@BitcoinBaby
more from that month
We should be going up very soon as Chinese Real Estate giant Evergrande has defaulted on its debt payment and the fear of the company’s payment default has led to a collectible slump in the financial market world over. Many believe the crypto market’s downturn over the past week was also influenced by the same as investors rushed to liquidate their crypto funds. However, the Chinese Central Bank has injected 120 billion Yuan nearly $19 billion into the banking system in hopes of bailing out Evergrande. #CryptoTrading
4 comments
So the Chinese are busy bailing out their "too big to fail" institutions? Do they also "print money" like the western nations do?
Of course they do and honestly I thought they would just let it crash and see the impact on the rest of the world as a benefit while the impact on china would be considered collateral damage
Yeah, their reaction puzzles me too. Maybe the western nations are paying them in some way to do this? I remember some conservative commentator once said that Taiwan is doomed because eventually China will say to the USA, "In the event of nuclear war, we're willing to lose 3 or 4 major cities. How many are you willing to lose?"
well glad i am not the only one puzzled