Evergrande and China's crypto ban

China has banned crypto again today.
How many times will the market react to the same news… seems infinite.

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Governments do not like anything that highlights the fallacies they rest on. Likely the Chinese are just trying to distract from having indulged that [fraud in a transaction] that is “fiat” and the Evergrowing scandal that is rocking their own economics.

Not that I disagree entirely - there’s a lot wrong with cryptocurrencies but the point is in reverse: there is no value in cryptocurrency until they are realised - and without law; government; or weapons of war, propping it up in the way done for fiat, then cryptocurrency boundary is defacto at that exchange with fiat or real world goods and utility. Everything internal to cryptocurrency till that point is an illusion - a hope of what might be realised in future.

Communism can’t exist without full control of the citizens, without control it would fall like a house of cards. It has nothing to do with fiat or frauds, they worked on the decision way in advance. Maybe the timing to release the information could be linked with an attempt to divert focus on Evergrande.

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Just because it’s under the umbrella of China being communist, doesn’t suggest it is attributable to the fundamentals of what communism is.

Evergrande is about property debt in a world awash with the illusion of fiat - of course it’s a fraud! They would be meeting their payments otherwise. The comparison with Lehman Brothers is because those at the leading edge push the limits of what is possible, in a world without limits, and then they are heading into a small wave of reality pushing back.

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That reply just feels empty and lacking of substance.

What is that, a superlative competition? Seems like nothing more then regular empty defense with meaningless empty words, defending communistic countries. Just because you can construct a sentence with record breaking use of beautiful sounding words, that don’t mean anything, if it has no logical attachment to reality.

The article by HappyBeing backing my claims from my earlier posts, so I am not alone.

China’s cryptocurrency crackdown comes at a very opportune moment | Science & Tech News | Sky News

Evergrande will be allowed to fail and the parasites behind it will suffer the losses whether they are Chinese or foreign predatory capitalists.
The CPC leadership have taken the decision to reign back the unfettered (and thus unsustainable) growth in the economy of China from ~10% pa to ~6%. The wannabe oligarchs will be taught a lesson. If round-eyed capitalist parasites suffer as well, what’s not to like? In any case China will not give the world a chance to gloat at a “Chinese Lehmann Bros moment”.

But puhlease dont let that get in the way of your kneejerk Cold War responses - as outdated as they are frankly childish.
Grow up and deal with the realities, a planned economy is leading the world and all the “freedom-loving” huffing and puffing is simply that.

It’s an illusion to the crock of shite that is Western economics - print money and expect others to fill the gap… which the Chinese have latched on to in part, as the competition is a race to the bottom or a game of chicken, I can’t quite tell.

Seems like you are looking to prove what you believe; so, I’ll leave it there.

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To me it feels like they are probably friends with the people in the government, would not surprise me if they are rewarded and not punished. To get rich in China it is probably similar to Russia, you need to be friends with the ones in the top positions of the government.

Yes, always leave when you are on the losing side, but blame it on the winner, many people use that strategy.

The things you write in your comments are illusions. There is no point to go on when you go full communist style argumentation, pulling rabbits out of the hat faster than a magician on coke.

Sod it – I’ll just carry on ignoring your idiocies.

Same applies to capitalism. Who’s going to protect the private property and make rules to protect the money flows? Nature? God? It’s still a system of control, but those inside it can’t always see the guardrails or the electric fences.

A better way to put it would be a system can’t exist without broad consent of its citizens. I know China a bit, and while a lot of people rail against the CCP (I would) that’s far from a universal position, and most people just want stability given the country’s long history of violent upheavals.

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My comment was on the whole system. If the people are allowed to choose and think for themselves, then they would demand influence aka democracy, then communism would fail.

Same in Russia, North Korea and other communist countries, without controlling peoples thoughts and actions, communism fails.

As in most countries 75-80 of population don’t care, accepts the way things are.

Russia hasn’t been communist for 30 yrs now - Do try to keep up.

Have a nice day and when its time for bed, don’t forget to check under it for nasty reds.

Communism is not based on what you name things, it is based on actions. People in the government, close to or friends, owns all companies and wealth. They still march in parades every year celebrating Lenin, Stalin. No free elections and kills opposition and media who oppose Kreml’s words. They are still communists or could maybe also be called champagne communists.

Communism = No free market, weak or no laws supporting owning companies and similar assets.

Proof please.
And its the Communists who are complaining about the recent Russian elections…

PS How did that lovely mentally-deficient poster-boy Navalny get on?

Now dont forget your bed-check tonight… Otherwise you could wake up minus a horse ;->

Yes, minus a horse would be great, don’t need a horse in my bed

yawn yawn yawn

You are making me want my bed -
No I won’t need to look under it before I kip…

How I wish fish rose so easily to the bait…

We laff…

Haha, argumentation with commies.

they tell you to show proof, you show proof, they run or start talking about something else.

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