{"id":15698,"date":"2017-08-10T19:57:08","date_gmt":"2017-08-10T23:57:08","guid":{"rendered":"http:\/\/goldstocksforex.com\/?p=15698"},"modified":"2017-08-10T19:57:08","modified_gmt":"2017-08-10T23:57:08","slug":"china-is-the-biggest-credit-bubble-in-the-world-today-crescat-capital","status":"publish","type":"post","link":"https:\/\/thepatientinvestor.com\/index.php\/2017\/08\/10\/china-is-the-biggest-credit-bubble-in-the-world-today-crescat-capital\/","title":{"rendered":"China is the biggest credit bubble in the world today | Crescat Capital"},"content":{"rendered":"<p>From Nils Jenson at Crescat Capital:<\/p>\n<blockquote><p>History has proven that credit bubbles always burst. China by far is the biggest credit bubble in the world today&#8230;&#8230;.<\/p>\n<p>The Bank for International Settlements (BIS) has identified an important warning signal to identify credit bubbles that are poised to trigger a banking crisis across different countries: Unsustainable credit growth relative to gross domestic product (GDP) in the household and (non-financial) corporate sector. Three large (G-20) countries are flashing warning signals today for impending banking crises based on such imbalances: China, Canada, and Australia&#8230;.<\/p><\/blockquote>\n<p><a href=\"https:\/\/www.crescat.net\/crescat-capital-quarterly-investor-letter-q2-2017\/\"><img data-recalc-dims=\"1\" decoding=\"async\" class=\"alignnone size-full\" src=\"https:\/\/i0.wp.com\/thepatientinvestor.com\/wp-content\/uploads\/2017\/08\/web_01.jpg?w=525&#038;ssl=1\" alt=\"\" \/><\/a><\/p>\n<p>The trouble with credit bubbles is they always burst. The problem is we don&#8217;t know when. &#8220;Imminent&#8221; could mean next week or it could mean in 3 years time. Keep a close watch on the PBOC for signs that it has run out of options. They will kick the can down the road for as long as possible, but the time will come when that is no longer viable.<\/p>\n<p>Great Analysis, worth reading the entire report: <a href=\"https:\/\/www.crescat.net\/crescat-capital-quarterly-investor-letter-q2-2017\/\">Crescat Capital Quarterly Investor Letter Q2 2017 | Crescat Capital<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>From Nils Jenson at Crescat Capital: History has proven that credit bubbles always burst. China by far is the biggest credit bubble in the world today&#8230;&#8230;. The Bank for International Settlements (BIS) has identified an important warning signal to identify credit bubbles that are poised to trigger a banking crisis across different countries: Unsustainable credit &hellip; <\/p>\n<p class=\"link-more\"><a href=\"https:\/\/thepatientinvestor.com\/index.php\/2017\/08\/10\/china-is-the-biggest-credit-bubble-in-the-world-today-crescat-capital\/\" class=\"more-link\">Continue reading<span class=\"screen-reader-text\"> &#8220;China is the biggest credit bubble in the world today | Crescat Capital&#8221;<\/span><\/a><\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_mo_disable_npp":"","_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[57],"tags":[],"class_list":["post-15698","post","type-post","status-publish","format-standard","hentry","category-stock-markets"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.2 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>China is the biggest credit bubble in the world today | Crescat Capital - the patient investor<\/title>\n<meta name=\"robots\" content=\"noindex, follow\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"China is the biggest credit bubble in the world today | Crescat Capital - the patient investor\" \/>\n<meta property=\"og:description\" content=\"From Nils Jenson at Crescat Capital: History has proven that credit bubbles always burst. China by far is the biggest credit bubble in the world today&#8230;&#8230;. The Bank for International Settlements (BIS) has identified an important warning signal to identify credit bubbles that are poised to trigger a banking crisis across different countries: Unsustainable credit &hellip; Continue reading &quot;China is the biggest credit bubble in the world today | Crescat Capital&quot;\" \/>\n<meta property=\"og:url\" content=\"https:\/\/thepatientinvestor.com\/index.php\/2017\/08\/10\/china-is-the-biggest-credit-bubble-in-the-world-today-crescat-capital\/\" \/>\n<meta property=\"og:site_name\" content=\"the patient investor\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/profile.php?id=61572934660810\" \/>\n<meta property=\"article:published_time\" content=\"2017-08-10T23:57:08+00:00\" \/>\n<meta property=\"og:image\" content=\"http:\/\/thepatientinvestor.com\/wp-content\/uploads\/2017\/08\/web_01.jpg\" \/>\n<meta name=\"author\" content=\"ColinTwiggs\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"ColinTwiggs\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"1 minute\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/thepatientinvestor.com\/index.php\/2017\/08\/10\/china-is-the-biggest-credit-bubble-in-the-world-today-crescat-capital\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/thepatientinvestor.com\/index.php\/2017\/08\/10\/china-is-the-biggest-credit-bubble-in-the-world-today-crescat-capital\/\"},\"author\":{\"name\":\"ColinTwiggs\",\"@id\":\"https:\/\/thepatientinvestor.com\/#\/schema\/person\/cb072791ac83e8bae585007c133d54a5\"},\"headline\":\"China is the biggest credit bubble in the world today | Crescat Capital\",\"datePublished\":\"2017-08-10T23:57:08+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/thepatientinvestor.com\/index.php\/2017\/08\/10\/china-is-the-biggest-credit-bubble-in-the-world-today-crescat-capital\/\"},\"wordCount\":185,\"commentCount\":0,\"publisher\":{\"@id\":\"https:\/\/thepatientinvestor.com\/#organization\"},\"image\":{\"@id\":\"https:\/\/thepatientinvestor.com\/index.php\/2017\/08\/10\/china-is-the-biggest-credit-bubble-in-the-world-today-crescat-capital\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/thepatientinvestor.com\/wp-content\/uploads\/2017\/08\/web_01.jpg\",\"articleSection\":[\"Stock Markets\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\/\/thepatientinvestor.com\/index.php\/2017\/08\/10\/china-is-the-biggest-credit-bubble-in-the-world-today-crescat-capital\/#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/thepatientinvestor.com\/index.php\/2017\/08\/10\/china-is-the-biggest-credit-bubble-in-the-world-today-crescat-capital\/\",\"url\":\"https:\/\/thepatientinvestor.com\/index.php\/2017\/08\/10\/china-is-the-biggest-credit-bubble-in-the-world-today-crescat-capital\/\",\"name\":\"China is the biggest credit bubble in the world today | Crescat Capital - the patient investor\",\"isPartOf\":{\"@id\":\"https:\/\/thepatientinvestor.com\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/thepatientinvestor.com\/index.php\/2017\/08\/10\/china-is-the-biggest-credit-bubble-in-the-world-today-crescat-capital\/#primaryimage\"},\"image\":{\"@id\":\"https:\/\/thepatientinvestor.com\/index.php\/2017\/08\/10\/china-is-the-biggest-credit-bubble-in-the-world-today-crescat-capital\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/thepatientinvestor.com\/wp-content\/uploads\/2017\/08\/web_01.jpg\",\"datePublished\":\"2017-08-10T23:57:08+00:00\",\"breadcrumb\":{\"@id\":\"https:\/\/thepatientinvestor.com\/index.php\/2017\/08\/10\/china-is-the-biggest-credit-bubble-in-the-world-today-crescat-capital\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/thepatientinvestor.com\/index.php\/2017\/08\/10\/china-is-the-biggest-credit-bubble-in-the-world-today-crescat-capital\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/thepatientinvestor.com\/index.php\/2017\/08\/10\/china-is-the-biggest-credit-bubble-in-the-world-today-crescat-capital\/#primaryimage\",\"url\":\"https:\/\/i0.wp.com\/thepatientinvestor.com\/wp-content\/uploads\/2017\/08\/web_01.jpg?fit=1176%2C763&ssl=1\",\"contentUrl\":\"https:\/\/i0.wp.com\/thepatientinvestor.com\/wp-content\/uploads\/2017\/08\/web_01.jpg?fit=1176%2C763&ssl=1\",\"width\":1176,\"height\":763},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/thepatientinvestor.com\/index.php\/2017\/08\/10\/china-is-the-biggest-credit-bubble-in-the-world-today-crescat-capital\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\/\/thepatientinvestor.com\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"China is the biggest credit bubble in the world today | Crescat Capital\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\/\/thepatientinvestor.com\/#website\",\"url\":\"https:\/\/thepatientinvestor.com\/\",\"name\":\"The Patient Investor\",\"description\":\"Smart. Strategic. Unfiltered. \",\"publisher\":{\"@id\":\"https:\/\/thepatientinvestor.com\/#organization\"},\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\/\/thepatientinvestor.com\/?s={search_term_string}\"},\"query-input\":{\"@type\":\"PropertyValueSpecification\",\"valueRequired\":true,\"valueName\":\"search_term_string\"}}],\"inLanguage\":\"en-US\"},{\"@type\":\"Organization\",\"@id\":\"https:\/\/thepatientinvestor.com\/#organization\",\"name\":\"The Patient Investor Pty Ltd\",\"url\":\"https:\/\/thepatientinvestor.com\/\",\"logo\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/thepatientinvestor.com\/#\/schema\/logo\/image\/\",\"url\":\"https:\/\/i0.wp.com\/thepatientinvestor.com\/wp-content\/uploads\/2026\/03\/cropped-cropped-patience-bg-1-inverted-400x400-1.png?fit=250%2C250&ssl=1\",\"contentUrl\":\"https:\/\/i0.wp.com\/thepatientinvestor.com\/wp-content\/uploads\/2026\/03\/cropped-cropped-patience-bg-1-inverted-400x400-1.png?fit=250%2C250&ssl=1\",\"width\":250,\"height\":250,\"caption\":\"The Patient Investor Pty Ltd\"},\"image\":{\"@id\":\"https:\/\/thepatientinvestor.com\/#\/schema\/logo\/image\/\"},\"sameAs\":[\"https:\/\/www.facebook.com\/profile.php?id=61572934660810\",\"https:\/\/www.instagram.com\/colin_thepatientinvestor\"]},{\"@type\":\"Person\",\"@id\":\"https:\/\/thepatientinvestor.com\/#\/schema\/person\/cb072791ac83e8bae585007c133d54a5\",\"name\":\"ColinTwiggs\",\"image\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/secure.gravatar.com\/avatar\/876c4d990bb2af282291d5f3ff81533c6deccc0c607846086647ca3272fac0ca?s=96&d=mm&r=g\",\"url\":\"https:\/\/secure.gravatar.com\/avatar\/876c4d990bb2af282291d5f3ff81533c6deccc0c607846086647ca3272fac0ca?s=96&d=mm&r=g\",\"contentUrl\":\"https:\/\/secure.gravatar.com\/avatar\/876c4d990bb2af282291d5f3ff81533c6deccc0c607846086647ca3272fac0ca?s=96&d=mm&r=g\",\"caption\":\"ColinTwiggs\"},\"url\":\"https:\/\/thepatientinvestor.com\/index.php\/author\/colin58s\/\"}]}<\/script>\n<!-- \/ Yoast SEO plugin. -->","yoast_head_json":{"title":"China is the biggest credit bubble in the world today | Crescat Capital - the patient investor","robots":{"index":"noindex","follow":"follow"},"og_locale":"en_US","og_type":"article","og_title":"China is the biggest credit bubble in the world today | Crescat Capital - the patient investor","og_description":"From Nils Jenson at Crescat Capital: History has proven that credit bubbles always burst. China by far is the biggest credit bubble in the world today&#8230;&#8230;. The Bank for International Settlements (BIS) has identified an important warning signal to identify credit bubbles that are poised to trigger a banking crisis across different countries: Unsustainable credit &hellip; Continue reading \"China is the biggest credit bubble in the world today | Crescat Capital\"","og_url":"https:\/\/thepatientinvestor.com\/index.php\/2017\/08\/10\/china-is-the-biggest-credit-bubble-in-the-world-today-crescat-capital\/","og_site_name":"the patient investor","article_publisher":"https:\/\/www.facebook.com\/profile.php?id=61572934660810","article_published_time":"2017-08-10T23:57:08+00:00","og_image":[{"url":"http:\/\/thepatientinvestor.com\/wp-content\/uploads\/2017\/08\/web_01.jpg","type":"","width":"","height":""}],"author":"ColinTwiggs","twitter_card":"summary_large_image","twitter_misc":{"Written by":"ColinTwiggs","Est. reading time":"1 minute"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/thepatientinvestor.com\/index.php\/2017\/08\/10\/china-is-the-biggest-credit-bubble-in-the-world-today-crescat-capital\/#article","isPartOf":{"@id":"https:\/\/thepatientinvestor.com\/index.php\/2017\/08\/10\/china-is-the-biggest-credit-bubble-in-the-world-today-crescat-capital\/"},"author":{"name":"ColinTwiggs","@id":"https:\/\/thepatientinvestor.com\/#\/schema\/person\/cb072791ac83e8bae585007c133d54a5"},"headline":"China is the biggest credit bubble in the world today | Crescat Capital","datePublished":"2017-08-10T23:57:08+00:00","mainEntityOfPage":{"@id":"https:\/\/thepatientinvestor.com\/index.php\/2017\/08\/10\/china-is-the-biggest-credit-bubble-in-the-world-today-crescat-capital\/"},"wordCount":185,"commentCount":0,"publisher":{"@id":"https:\/\/thepatientinvestor.com\/#organization"},"image":{"@id":"https:\/\/thepatientinvestor.com\/index.php\/2017\/08\/10\/china-is-the-biggest-credit-bubble-in-the-world-today-crescat-capital\/#primaryimage"},"thumbnailUrl":"https:\/\/thepatientinvestor.com\/wp-content\/uploads\/2017\/08\/web_01.jpg","articleSection":["Stock Markets"],"inLanguage":"en-US","potentialAction":[{"@type":"CommentAction","name":"Comment","target":["https:\/\/thepatientinvestor.com\/index.php\/2017\/08\/10\/china-is-the-biggest-credit-bubble-in-the-world-today-crescat-capital\/#respond"]}]},{"@type":"WebPage","@id":"https:\/\/thepatientinvestor.com\/index.php\/2017\/08\/10\/china-is-the-biggest-credit-bubble-in-the-world-today-crescat-capital\/","url":"https:\/\/thepatientinvestor.com\/index.php\/2017\/08\/10\/china-is-the-biggest-credit-bubble-in-the-world-today-crescat-capital\/","name":"China is the biggest credit bubble in the world today | Crescat Capital - the patient investor","isPartOf":{"@id":"https:\/\/thepatientinvestor.com\/#website"},"primaryImageOfPage":{"@id":"https:\/\/thepatientinvestor.com\/index.php\/2017\/08\/10\/china-is-the-biggest-credit-bubble-in-the-world-today-crescat-capital\/#primaryimage"},"image":{"@id":"https:\/\/thepatientinvestor.com\/index.php\/2017\/08\/10\/china-is-the-biggest-credit-bubble-in-the-world-today-crescat-capital\/#primaryimage"},"thumbnailUrl":"https:\/\/thepatientinvestor.com\/wp-content\/uploads\/2017\/08\/web_01.jpg","datePublished":"2017-08-10T23:57:08+00:00","breadcrumb":{"@id":"https:\/\/thepatientinvestor.com\/index.php\/2017\/08\/10\/china-is-the-biggest-credit-bubble-in-the-world-today-crescat-capital\/#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/thepatientinvestor.com\/index.php\/2017\/08\/10\/china-is-the-biggest-credit-bubble-in-the-world-today-crescat-capital\/"]}]},{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/thepatientinvestor.com\/index.php\/2017\/08\/10\/china-is-the-biggest-credit-bubble-in-the-world-today-crescat-capital\/#primaryimage","url":"https:\/\/i0.wp.com\/thepatientinvestor.com\/wp-content\/uploads\/2017\/08\/web_01.jpg?fit=1176%2C763&ssl=1","contentUrl":"https:\/\/i0.wp.com\/thepatientinvestor.com\/wp-content\/uploads\/2017\/08\/web_01.jpg?fit=1176%2C763&ssl=1","width":1176,"height":763},{"@type":"BreadcrumbList","@id":"https:\/\/thepatientinvestor.com\/index.php\/2017\/08\/10\/china-is-the-biggest-credit-bubble-in-the-world-today-crescat-capital\/#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/thepatientinvestor.com\/"},{"@type":"ListItem","position":2,"name":"China is the biggest credit bubble in the world today | Crescat Capital"}]},{"@type":"WebSite","@id":"https:\/\/thepatientinvestor.com\/#website","url":"https:\/\/thepatientinvestor.com\/","name":"The Patient Investor","description":"Smart. Strategic. Unfiltered. ","publisher":{"@id":"https:\/\/thepatientinvestor.com\/#organization"},"potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/thepatientinvestor.com\/?s={search_term_string}"},"query-input":{"@type":"PropertyValueSpecification","valueRequired":true,"valueName":"search_term_string"}}],"inLanguage":"en-US"},{"@type":"Organization","@id":"https:\/\/thepatientinvestor.com\/#organization","name":"The Patient Investor Pty Ltd","url":"https:\/\/thepatientinvestor.com\/","logo":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/thepatientinvestor.com\/#\/schema\/logo\/image\/","url":"https:\/\/i0.wp.com\/thepatientinvestor.com\/wp-content\/uploads\/2026\/03\/cropped-cropped-patience-bg-1-inverted-400x400-1.png?fit=250%2C250&ssl=1","contentUrl":"https:\/\/i0.wp.com\/thepatientinvestor.com\/wp-content\/uploads\/2026\/03\/cropped-cropped-patience-bg-1-inverted-400x400-1.png?fit=250%2C250&ssl=1","width":250,"height":250,"caption":"The Patient Investor Pty Ltd"},"image":{"@id":"https:\/\/thepatientinvestor.com\/#\/schema\/logo\/image\/"},"sameAs":["https:\/\/www.facebook.com\/profile.php?id=61572934660810","https:\/\/www.instagram.com\/colin_thepatientinvestor"]},{"@type":"Person","@id":"https:\/\/thepatientinvestor.com\/#\/schema\/person\/cb072791ac83e8bae585007c133d54a5","name":"ColinTwiggs","image":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/secure.gravatar.com\/avatar\/876c4d990bb2af282291d5f3ff81533c6deccc0c607846086647ca3272fac0ca?s=96&d=mm&r=g","url":"https:\/\/secure.gravatar.com\/avatar\/876c4d990bb2af282291d5f3ff81533c6deccc0c607846086647ca3272fac0ca?s=96&d=mm&r=g","contentUrl":"https:\/\/secure.gravatar.com\/avatar\/876c4d990bb2af282291d5f3ff81533c6deccc0c607846086647ca3272fac0ca?s=96&d=mm&r=g","caption":"ColinTwiggs"},"url":"https:\/\/thepatientinvestor.com\/index.php\/author\/colin58s\/"}]}},"jetpack_featured_media_url":"","jetpack_sharing_enabled":true,"jetpack_shortlink":"https:\/\/wp.me\/p9tQ4n-45c","jetpack_likes_enabled":false,"jetpack-related-posts":[{"id":14117,"url":"https:\/\/thepatientinvestor.com\/index.php\/2016\/09\/13\/credit-bubbles-and-gdp-targeting\/","url_meta":{"origin":15698,"position":0},"title":"Credit bubbles and GDP targeting","author":"ColinTwiggs","date":"September 13, 2016","format":false,"excerpt":"In 2010 Scott Sumner first proposed that the Fed use GDP targeting rather than targeting inflation, which is prone to measurement error. Since then support for this approach has grown, with Lars Christensen, an economist with the Danish central bank, coining the term Market Monetarism. Sumner holds that inflation is\u2026","rel":"","context":"In &quot;Banks &amp; Interest Rates&quot;","block_context":{"text":"Banks &amp; Interest Rates","link":"https:\/\/thepatientinvestor.com\/index.php\/category\/economy\/the-fed-banks-interest-rates\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":1325,"url":"https:\/\/thepatientinvestor.com\/index.php\/2011\/10\/13\/roubini-moving-from-the-post-bubble-post-bust-economy-to-growth-credit-writedowns\/","url_meta":{"origin":15698,"position":1},"title":"Roubini: Moving From the Post-Bubble, Post-Bust Economy to Growth | Credit Writedowns","author":"ColinTwiggs","date":"October 13, 2011","format":false,"excerpt":"It is not only the U.S. economy that is in peril right now. \u2026Europe is struggling to prevent the sovereign debt problems of its peripheral Euro-zone economies from spiraling into a full-fledged banking crisis\u2026 Meanwhile, China and other large emerging economies\u2026 are beginning to experience slowdowns\u2026Nor is renewed recession the\u2026","rel":"","context":"In &quot;China &amp; HK&quot;","block_context":{"text":"China &amp; HK","link":"https:\/\/thepatientinvestor.com\/index.php\/category\/countries-regions\/china-hk\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":7326,"url":"https:\/\/thepatientinvestor.com\/index.php\/2013\/03\/27\/forget-too-big-to-fail-kill-the-fractional-reserve-banking-system\/","url_meta":{"origin":15698,"position":2},"title":"Forget too-big-to-fail: Kill the fractional reserve banking system","author":"ColinTwiggs","date":"March 27, 2013","format":false,"excerpt":"Interesting discussion on Bloomberg about currency-backed deposits and equity-funded loans. The fractional reserve banking system is the primary cause of instability and asset bubbles in the global economy, allowing banks to create money out of thin air. Credit expansion above the rate of real GDP growth has only two possible\u2026","rel":"","context":"In &quot;Banks &amp; Interest Rates&quot;","block_context":{"text":"Banks &amp; Interest Rates","link":"https:\/\/thepatientinvestor.com\/index.php\/category\/economy\/the-fed-banks-interest-rates\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":23187,"url":"https:\/\/thepatientinvestor.com\/index.php\/2020\/12\/12\/a-stock-market-bubble-of-epic-proportions\/","url_meta":{"origin":15698,"position":3},"title":"A stock market bubble of epic proportions","author":"Colin Twiggs","date":"December 12, 2020","format":false,"excerpt":"A great deal has been written in recent years about real estate bubbles, stock market bubbles and even bond market bubbles. But there is really only one kind of bubble \u2014 that is a debt bubble. Without low interest rates fueling rapid debt growth, any form of bubble would wither\u2026","rel":"","context":"In &quot;Banks &amp; Interest Rates&quot;","block_context":{"text":"Banks &amp; Interest Rates","link":"https:\/\/thepatientinvestor.com\/index.php\/category\/economy\/the-fed-banks-interest-rates\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":14201,"url":"https:\/\/thepatientinvestor.com\/index.php\/2016\/09\/19\/warning-sign-of-china-bank-crisis-business-insider\/","url_meta":{"origin":15698,"position":4},"title":"Warning sign of China bank crisis | Business Insider","author":"ColinTwiggs","date":"September 19, 2016","format":false,"excerpt":"From Engen Tham, Reuters: Excessive credit growth in China is signaling an increasing risk of a banking crisis in the next three years, a report from the Bank for International Settlements says. The credit-to-gross-domestic-product gap, an early warning of financial overheating, hit 30.1 in China in the first quarter of\u2026","rel":"","context":"In &quot;China &amp; HK&quot;","block_context":{"text":"China &amp; HK","link":"https:\/\/thepatientinvestor.com\/index.php\/category\/countries-regions\/china-hk\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":14694,"url":"https:\/\/thepatientinvestor.com\/index.php\/2016\/12\/19\/chinas-day-of-reckoning-the-market-oracle\/","url_meta":{"origin":15698,"position":5},"title":"China&#8217;s Day of Reckoning | The Market Oracle","author":"ColinTwiggs","date":"December 19, 2016","format":false,"excerpt":"From Michael Pento: Therein lies China's dilemma: Allow the yuan to intractably fall, which will increase capital flight and destroy its asset-bubble economy. Or, raise interest rates to stabilize the currency and risk collapsing asset bubbles that will crumble under the weight of rising debt carrying costs. China embodies a\u2026","rel":"","context":"In &quot;China &amp; HK&quot;","block_context":{"text":"China &amp; HK","link":"https:\/\/thepatientinvestor.com\/index.php\/category\/countries-regions\/china-hk\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]}],"_links":{"self":[{"href":"https:\/\/thepatientinvestor.com\/index.php\/wp-json\/wp\/v2\/posts\/15698","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/thepatientinvestor.com\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/thepatientinvestor.com\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/thepatientinvestor.com\/index.php\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/thepatientinvestor.com\/index.php\/wp-json\/wp\/v2\/comments?post=15698"}],"version-history":[{"count":0,"href":"https:\/\/thepatientinvestor.com\/index.php\/wp-json\/wp\/v2\/posts\/15698\/revisions"}],"wp:attachment":[{"href":"https:\/\/thepatientinvestor.com\/index.php\/wp-json\/wp\/v2\/media?parent=15698"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/thepatientinvestor.com\/index.php\/wp-json\/wp\/v2\/categories?post=15698"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/thepatientinvestor.com\/index.php\/wp-json\/wp\/v2\/tags?post=15698"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}