China Flooding Piling Onto Pandemic: More Bank Problems & Massive Amounts of Crops Underwater?

published on August 2, 2020

The western mainstream media's coverage of the flooding in china continues to be either lackluster or complete and total garbage or non-existent so the flooding in china is absolutely enormous china in focus the youtube channel which

I've been following for a long time now when it was a tiny channel it's now over 500 000 subscribers on youtube also joshua phillip who does who has amazing sources they

Are talking to boots on the ground they're interviewing people inside china they are getting leaked government documents about the global pandemic how it's being handled how it was blundered and also

The flooding and the collateral damage that it's causing and it looks like according to one of my top sources in china who just sent me some more information a lot of crops in china are being

Devastated are underwater are destroyed from the massive amounts of flooding all over china there's also droughts too so not only is there flooding in many parts of china and there's a lot

Of buildings underwater and it's a complete and total mess and the chinese government's obviously not going to tell the truth about how many people died and the property damage the the

Poor people in china are not going to get compensated for the loss of their cars loss of their farms it's just i've seen interviews with farmers who lost

50 acres of rice it's just com totally sad but my uh one of my top sources in china was just telling me he thinks that at least half of the crops in china i

Believe rice is one of the main ones is gone so there's going to be enormous food shortages in china and that means china the chinese government is going to have to import unbelievable amounts of food now

They had african for those of you who are not familiar last year is starting in early 2019 there was the african swine flu and it devastated an enormous amount of the chinese pork population well

Apparently and i've seen videos on china in focus a lot of livestock was also killed in the flooding there's video i just saw on china in focus on their newest video that came out

A couple about an hour ago where there was a cattle that was just wiped away in the flood so i imagine that that's happened in a lot of different places and i think china is going to have to import

A lot more livestock as well as crops so potentially the price of some food food imports the amount of food imports that china is going to have to bring in and they were already importing an unbelievable amount of pork

For the last 18 or so months starting in early 2019 the uh the amount of food in terms of staple crops so normally china could feed itself with staple crops like rice and others

They didn't have to import nearly as much staple crops they were importing a lot of pork and beef chicken fish seafood but the staple crops in china were there was

No shortages of those but it looks like there's going to be big shortages of those in the not too distant future and there is not only lots of flooding but also droughts in different parts of china too

So there's a lot of distortions mother nature is acting like she's pulling a lot of keynesian economic levers not in a good way so my uh one of my top sources in china is warning that people

Here in the west expect potential much higher food prices in the not too distant future he is actually predicting that china may go the chinese government may go on a ppe

Equipment type of buying spree so he's saying remember how in we found that this information out that in december 2019 and january 2020 and february 2020 the chinese government

Sent agents all over the west here in the united states canada australia the european union to buy up the best n95 mass and ppe equipment also they prevented 3m and a lot of manufacturers from

Exporting the n95 mass out of china well he is predicting that the chinese government is going to go on a similar food buying spree so a lot of crazy things happening in china the us is also a mess but

The mainstream media again here in the west not covering it probably because the chinese government doesn't want the western media to cover it also because the election is coming up and it's just

It's good for ratings for the mainstream media here in the west just to just to bash trump all the time non-stop trump coverage meanwhile in the rest of the world the problems in china are going to potentially cause you

Much higher food prices and potentially shortages so we did have potential um we did have some short higher prices of beef and some shortages for a short amount of time but um over the last like three or four

Months when the pandemic was first getting going in the first six weeks or so and that calmed down thankfully but we could have that explode again if my source is right about how much of

The crops in china in terms of the rice and the other stable crops are destroyed it's going to be a mess which means that the chinese government is going to have to import a lot more

Protein animal protein livestock and also a lot more staple crops also this story came out five days ago from quartz by john ditrix hopefully i got that all that name pronounced all right

Chinese bank losses to exceed the us and western europe lenders the global pandemic is poised to set off trillions of dollars of bank losses a large chunk of which are forecast to implode at chinese lenders

Losses at global banks are projected to soar by 926 billion to from nine excuse me from 926 billion to 21 trillion through 2021 according to standard and poor's almost 400 billion of that increase is forecast

To come from chinese institutions compared with a 360 billion increase for those in north america so standard and poor's is projecting larger banking system losses in china than in the north america and western

Europe combined while an impending wave of soured loans isn't expected to cause a credit crisis the forecast demonstrates the economic pain that's anticipated from heightened unemployment and bankruptcies

China's outsized losses reflect the sheer size of its mammoth banking sector which in terms of its customer loans is as big as the us japanese german and united kingdom banking systems combined

Say s p analysts that's in so china's banking system is over at least 40 trillion dollars it is enormous it has exploded in size in the last 10 years many people are not aware of

How big the chinese banking system is the amount of credit kyle bass has talked about this extensively when the mainstream media actually lets him on for a couple minutes to talk and doesn't

Interrupt him and doesn't ignore the stuff he's he was warning about with hsbc bank a year ago in may 2019 so how much is hsbc bank shares down over the last year hsbc bank shares are

Down almost 44 minus 4344 kyle bass warned us a lot of people especially the mainstream media and wall street didn't listen probably because hsbc bank spends a lot

Of money running television commercials for their wealth management products people ask me how do you one one of my good friends who's a podcast listener asked me how do i tell what's really

Going on in china because a lot of the stuff is so manipulated even more manipulated than a lot of the economic data here in the us and other western countries and i tell him

Well one of the ways you can do that is you're not going to be able to see really the currency exchange rate is not going to give you proper signals so the it's 6992 chinese yuan to the dollar

You're not really going to see unless the currency just gets out of control but as of right now it's the chinese government and the people's bank of china has the currency exchange rate

Under control you're going to see this with hsbc bank shares so one way because hsbc hsbc bank has so much exposure to the asian economies especially mainland china

Mainland chinese real estate mainland chinese businesses hong kong real estate hong kong businesses hong kong banking excuse me hong kong banking sector so hsbc bank is probably a good indicator of the

Chinese economy now obviously there's a lot of other problems with hsbc bank but the majority of their revenues the majority of their profits are from china and hong kong the other way might be the copper price now the copper price

Has had an unbelievable rally since march 23rd round one it bottomed around two dollars eight cents a pound just below that according to the chart here on trading view and it's gone almost parabolic in

The last four months so it looks like on the it's rallied to over two dollars ninety cents a pound now the copper price so it's gone from around two dollars eight cents a pound

On march 23rd right around there to over two dollars ninety two cents a pound still going up right now i have the futures open in only four months now the chart does

Look like it might be forming a double top could be putting in a top and if the real chinese economy if things are going to be a lot worse so there's a lot of evidence

Anecdotal evidence and china infocus has has reported on this joshua phillip has reported on this china and censored has reported on this that there's a lot of smaller pandemic outbreaks happening again all over china

But if you add in all the flooding the chinese economy is going to have a lot of problems so i would not imagine that the copper price the stockpiling

Of copper by a lot of entities in china is probably going to slow down may stop a lot so i could see i'm not predicting this as a hundred percent because there's not a lot of guarantees left except for

Taxes uh politicians increasing taxes and trying to devalue currencies any way they can and change and governments changing the rules but i could see the copper price crashing again in the not too distant future

Time frame on that maybe maybe six months or less but then what's to stop more intervention and then trying to get the copper price to rally again the copper in my opinion the copper

Price has rallied way too much because the copper price is dependent upon the real economy whereas gold and silver are different well at least silver has its

Monetary component silver does has have its industrial demand component but gold is a monetary metal it's not the majority of gold demand is not from industrial purposes most gold demand is from central banks and

Investors and jewelry wow a lot of people watching and hardly any likes so please tap or smash the like button click tap or smash the like button so i would look for an indicator of how

Bad things are in china i would watch commodity prices because china buys a lot of commodities they are the main consumer of commodity commodities the main demand the main demand driver of many

Commodities whether that's copper oil coal a lot of different industrial metals and agriculture so if demand for those drops or if china goes on panic buying

Let's say my source in china is right about how much of the crops have actually been destroyed and livestock he says this over half that's his estimate that's how bad the flooding has been

So if he is right about that you're looking at much much higher food food and agriculture commodity prices in the months ahead and it's going to affect people in the west here at the supermarket and at the restaurant

Or delivery if you're getting uber eats ubereats or whatever they're merging now i think uber just bought i can't remember if they bought grubhub or ubereats these companies are merging they don't make any money anyway

There's actually a really funny article about pizza arbitrage that jim chanos was sharing it was hilarious okay comments 2001 lexa talanas every time we go to china you're amazed

At the low prices for chinese produce the imported stuff are simply too expensive for most working-class people well if the if the produce is destroyed or a lot of it is destroyed and i'm seeing

Video interviews with farmers a number of farmers saying their crops are underwater showing that there was an entire field they're showing pictures of an entire field of corn

And the whole entire thing is underwater it's destroyed or rice so i've seen i've seen photos i've seen interview video interviews with the farmers posting on chinese social media

And then china in focus and ntd are then playing them and translating them it's just really sad so looks like the chinese government's gonna have to be importing a lot more

Food which means the prices on that food for importing it's gonna have to go up which would be stagflationary because people's everyday bills are going to go up if

Your food bill is going up and your income's not going up even that just adds to the stagflation case and china was already having stagflation problems they injected emergency liquidity it

Caused a stock market boom for what eight or nine days and then the stock market crashed after the mike pompeo speech there was enormous amounts of net capital outflows according to china in

Focus i haven't been able to confirm this with other sources so if anyone finds any other sources for this um shoot me an email that capital outflows in china reached a four-year

High nearly 140 billion dollars in capital in net capital outflows from in uh indirectly invested investment funds flowed out of china in just the second quarter

That's a lot of net capital outflows pablo asked did the three gorgeous damn break yet no it did not break yet but supposedly they opened a massive amount of the floodgates nine or so of them and they did not warn the townspeople in

The towns right below the three gorges dam because then the chinese government would have had to compensate them so instead they opened the floodgates didn't warn the townspeople

Their property was destroyed apartment buildings and condos were washed away and the chinese government the chinese communist party gets to say that it was a natural disaster

While they opened the floodgates and didn't warn the people and the people i guess some there's reports that some people that no we're never going to get a real number on how many people died

But there's reports that some people were asleep in their beds and they were electrocuted they either drowned or were electrocuted so from from an investment perspective i

Think copper prices rallied too much um if china the chinese economy gets worse the demand for commodities is going to go down

Except if my source who just sent me the information is correct then china is going to have to import a lot more agricultural commodities the soft commodities like corn and rice and livestock

But the other chinese demand for commodities like oil and copper and other base metals industrial metals the demand for those may start to slow down a lot if this is accurate

So watch the shares of hsbc bank kyle bass was warning us and we'll see what happens with the hong kong dollar because supposedly what they have 400 billion the hong kong monetary authority

Has 400 billion dollars to defend their currency peg but that one country two system uh is gone so we'll see what the chinese government and the people's bank of china decides to do with that 400

Billion dollars to defend the hong kong dollar peg i'm guessing it might have been stolen already feral android asks can't they convert their treasuries to dollars yes but that's only about a trillion

Dollars and there's a lot more dollar denominated problem dollar denominated debt problems inside the chinese economy so that won't perfectly solve their dollar their dollar shortage

Problem they actually need a currency swap but there's currency swap lines the chinese people's bank of china and chinese government need currency swap lines but there's no way they're going to get them

In this political climate we're in a cold war and then um china dumping a trillion dollars worth of treasuries considering what the fed's willing to buy i don't think that's gonna crash the

Dollar i mean you're gonna you're gonna hear the gold community talk about that but it's not gonna crash the dollar pain says the people always get screwed over by governments yes i agree it's not just the chinese communist

Party it's pretty much all government if you study history governments are brutal whether it's a king whether it's a dictatorship whether it's a warlord the history of governments is very

Brutal there's only been short periods of time throughout history where the government's actually behaved and they did not last a very long amount of time

Before waste fraud corruption and abuse and then governments go back to scoring the people over uh certain parts of china have flooding certain parts of china have droughts it is well documented there's pictures

And video all over the place so just because you're in one part of china that supposedly the weather is fine does not mean that everything's being made up

Okay well i don't see any super chats here i want to thank everyone for listening thank you very much to my over a thousand patreon account contributors there is a lot

Of content behind the pay while there's an audio podcast on chevron's new potential acquisition there's an updated dollar index chart that i just put out in the last couple days

Looks like there's still some support levels left in the dollar index we'll see what happens but the dollar is looking the dollar index the dollar on the dollar index is looking pretty weak

Still i think a lot of professional money managers do not own a lot of gold and silver exposure yet i think the majority of generalists these large big fishes professional money manager

Types that have tens of billions or hundreds of billions in assets under management i think most of them do not have that one percent exposure to gold silver gold or silver or

Precious metal stocks and eric sprott has been predicting that they will add i think the two thousand dollar an ounce gold number is a very important psychological number and

I was talking on twitter yesterday about a giffen good and for those of you not familiar with a giffen good it is a rare good where normally in we're normally um with supply and demand fundamentals

Price is price regulates supply and demand so if the price of a good goes up demand actually decreases and supply increases but gold and silver may be

Rare giffen goods where if the prices of gold and silver actually break psychological numbers so if gold goes to 2 000 or over 2 thousand dollars an ounce

And silver goes to 30 or 40 or 50 those for silver i think it's tougher to tell what number would be a psychological barrier for gold i think that number is 2 000 dimitri speck actually

Wrote a book i think in 2013 called the gold cartel and he is from germany and has good contacts in the german banking and financial system and he was talking about how

The european union politicians and ecb tech and technocrats people at the ecb and technocrats were going crazy back in 2011 when the gold price was over one thousand nine hundred dollars and they were

Calling the federal reserve and the us treasury to manipulate the gold price back down so if you want to read more about that it's in his book the gold cartel by dimitri speck s p eck

You can pick it up on amazon the gold antitrust action committee talked about it and the people there in europe and at the fed and treasury were were worried that about gold

Getting to that psychological number of two thousand dollars an ounce so that's why they pulled all those tricks back in 2011 they changed the margin requirements they did a bunch of games to

Get the hedge funds and the people long futures contracts not um driving the price a lot higher out of the market so i think for for gold the main psychological barrier

Is that two thousand dollar number once regular people like davey daytrader and the robin hood people once they see 2000 gold they're gonna get very interested in gold

Um silver it's tougher to tell what number is a psychological barrier but i'm more convinced that it's two thousand dollar gold because that's what what what the uh people in power were saying

In 2011 according to the book from dimitri speck that the people in the european union the technocrats the people at the ecb were terrified of gold hitting 2000 and lots of people just buying even more

Gold so they told the us trip they called up the us treasury and the fed the federal reserve back then and said you have to knock the gold price back down you have to manipulate it

So yes it would be nice to see a little bit of a correction in gold and silver prices but who knows was in the short term anything can happen and we've been waiting many of us who've been in the golden

Silver markets for 10 years or more have been waiting for a move like this this is the move we thought would happen a while ago christopher says the psychological number for silver's 50

The hunt brothers number you may be right okay i have a super chat from jonathan who is also a patreon account contributor one over one of over a thousand paying only five

Dollars a month for a lot of content behind the paywall there is over a hundred articles audio podcasts and technical analysis charts behind the paywall for my patrons okay why are the stocks

Holding why the stocks holding for gdxj and sga are completely different when they are both junior etfs so they're only they're juniors only in name um because there's so much interest in

By high frequency trading hedge funds in trading those and day traders that they have to add larger and more liquid stocks so if you look at the holdings for like the silj which is the junior

Silver miners etf it used to only have smaller smaller more illiquid stocks with lower trading volume years ago when my friend andrew chanin first started it

Years ago with pure funds but now if you look at the holdings for silj it's got the older uh smaller producers like um coeur d'alene and heckler which are not the largest silver miners they're

They're old silver miners but they're kind of mid tiers so they're called senior producers but they're more of a mid-tier they're nowhere near production levels like afres neo

Which is the world's largest primary silver producer i don't think they're anywhere near the pan american silver levels so like the holdings for these etfs that are claimed to be juniors a lot of them

Don't actually have juniors in there is for it's for liquidity trading purposes to help the hedge funds and the high frequency trading um professional traders day traders

So that's why they put the larger older stocks in there if you want real exposure to juniors on the sprott junior gold miner etf used to have more juniors i haven't looked at the allocation recently

But it does change the sprott junior gold miner one sgdj i think is the symbol so that they're supposed to update their holdings frequently okay super chat from dominique nieto

Thank you for the five dollar super chat well 499 if not in okay if you are not in minors yet best to get in now or wait for a pullback or partial now and hope for a

Pullback um in my opinion i think it's good to have at least somewhat of a position but i would i would not buy the majority of my positions at these prices i would wait

I would hope for a pullback and i don't buy all my positions at once so if there's a pullback i buy some if there's a larger pullback i buy more that's how i accumulated a lot of sandstorm gold shares

Over the years so when sandstorm gold crashed down to i had some shares of sandstorm gold um a decent amount of shares and then it crashed a lot in 2015 and 2016 and i was doing my homework i was

Speaking with management i was listening to the conference calls i was looking at the assets the deals that they were doing and projecting cash flows and the stock like everyone hated it people

On seeking alpha there was probably a dozen articles about that they were going to go bankrupt and i bought a lot of shares and i said if i'm right the shares are going to go up a lot in a few years

And that's what's happened i don't know if there's going to be deals like that i think a lot of capital is rotating into juniors right now i think the juniors the higher leverage higher cost

More debt on the balance sheet miners and the juniors are starting to outperform on a relative basis safer companies like sandstorm gold okay excellent super chat question from another patreon account contributor

Dmitry schmerkovich thank you for the ten dollars so um my friend my friend chris who covers the silver market i interviewed a couple weeks ago he interviewed uh andrew mcguire

Recently and andrew mcguire is involved with providing information i think for the jp for the us department of justice the ricoh case against the jp morgan metals traders and andrew mcguire is claiming that the

Us department of justice uh people that are prosecuting the ricoh case and as as of now from what i've heard they're still moving the case forward they were told that excuse me the us

Department of justice people told the jp jp morgan to reduce their uh silver short position so if that is true that means they're gonna they're not gonna be able to play as many games

To smash silver so if if that is true then silver has less of a blockade stopping it to thirty dollars or thirty five dollars so we'll see they could always change the rules they

Could always come up with new ways to get around the regulators of the prosecutors um i've been in this markets in these markets and i'm using air quotes because the gold and silver markets are so

Heavily the paper markets are so heavily manipulated for over a decade so they're i'm sure they can come up with new rules changes or new ways to slow things down but yes i am very surprised they haven't

Smashed things so i think dimitri to answer your question i think it has to do with the us department of justice the ricoh case because over the last two years there's

Been a number of lower and mid-level traders precious metal traders and managers arrested and the us department of justice is still supposedly moving the case forward now if they come out with a press

Release saying that they've they're dropping the charges i would suspect then that the manipulation will go back to normal levels pretty quickly but i have not seen anything saying that

The manipulation oh chris marcus is my friend's name my bad sorry i'm just late at night getting tired i interviewed chris marcus about his new silver book

In the last couple weeks so you can go back into the archives if you're new to my channel or miss that interview he has a new book out on silver where he actually spoke to bart bart chilton one of the cftc commissioners

Who admitted that gold and silver are manipulated but said the other people at the cftc wouldn't when uh agree to it so you needed i think three out of the five

Cftc commissioners to admit that it was manipulated to start prosecuting and going after the manipulators and clearly that wasn't going to happen because at that time with that silver investigation that silver price

Investigation guess who the head of the cftc was gary gensler who was a very uh former very high up at goldman sachs and he was involved uh jim rickards

According to one of his books said that he looked through trades on long-term capital management and copied a bunch of trades and then also gary gensler in 2016 he was hillary clinton's campaign finance

Manager so i don't think he believes in government transparency and ending corruption because literally he was hillary clinton's campaign finance manager

In 2016 and he was the he was the head of the cftc during the silver manipulation investigation so yeah i am surprised there hasn't been as much intervention but the people in the silver market who

Pay more attention to this than i do are they believe what andrew mcguire is saying for now okay everyone thank you for listening the articles will be in the information and description section so if you want

To see more of the quartz article also have an article from bloomberg news about panic selling gripping the chinese stock market after us tensions worsen and then a bloomberg article from a few days ago about kyle bass copycats

Snapping up bearish hong kong dollar call options also i highly recommend listening to mike pompeo's speech about how us policy is going to change against the chinese communist party and

The chinese government the speech was supposedly written by a chinese dissident someone who was in re-education camps and eventually got out so i would recom i highly

Recommend listening to pompeo speech now it is just words and i judge people by their actions more than their words or if their words match or if their actions match their words but the word sounded pretty good

They were written by a chinese dissident so we'll see what happens now if joe biden wins the november election i think he's on the chinese government's payroll so all of this talk about standing up to

The chinese government that could end very quickly if joe biden wins the election

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