Fed clears China's first US bank takeover

Discussion in 'Financial Cents' started by Quigley_Sharps, May 10, 2012.

  1. Quigley_Sharps

    Quigley_Sharps The Badministrator Administrator Founding Member

    Nother nail in the coffin...
    Guit_fishN likes this.
  2. Brokor

    Brokor Live Free or Cry Moderator Site Supporter+++ Founding Member

    No! It's a good thing! Competition is the spirit of a free state! [peep]

    Yeah, let's count the tally, shall we? China -owns large chunk of our "debt". China gets foot in door with purchase of bank to be operated in the USA (reportedly only 1% of total banking as of 2012 A.D.)....China has most of our jobs, China is scurrying to buy as much of the worlds resources as possible (ever see where Nestle ships its water?), including rare earth metals. Population count? Military? Space program?

    Doesn't look good. [shtf]
    Cephus likes this.
  3. RightHand

    RightHand Been There, Done That RIP 4/15/21 Moderator Moderator Emeritus Founding Member

    Feds Clear China's 1st US Bank Takeover

  4. CATO

    CATO Monkey+++

    Instead of FRNs, will they start exchanging for yuans?

    "I yuan Mao money back!"

    I yuan enough mao-nee to buy a tank of gas...what's the exchange for that?

  5. Brokor

    Brokor Live Free or Cry Moderator Site Supporter+++ Founding Member

  6. smithcp2002

    smithcp2002 Monkey+++

    That's it, what is the exchange rate for lead?
    STANGF150, oldawg and Quigley_Sharps like this.
  7. scpn

    scpn Monkey+++

    Any connection?

    I was up late Thursday night after work and heard some financial news on CBS news about a well known financial company declaring bankruptcy or something (I regognized the company name but can't recall it). That made me think it was time to take action (a la Sept 2008). So I was up early Friday, heading to withdraw most of what little I had in the bank to bury in the woods (it's what grandma would have done). Apparently the indicators weren't too bad on Friday but I didn't take any chances! Is this bank takeover by China another omen that the long-rumored big crash is near? Is another rush on ammo looming?
  8. ghrit

    ghrit Bad company Administrator Founding Member

    The one thing you can count on with Chinese banks is scrupulous honesty. As traders going back milennia, the one thing that carried them along was trust. But you better read the fine print of the agreements and know who gets to interpret things.

    That said, banks can and do manipulate value, and the bigger they are the more power to manipulate they have. The camel's nose is in the tent with this taking a share of a subsidiary US bank.
    STANGF150 likes this.
survivalmonkey SSL seal        survivalmonkey.com warrant canary