July 2, 2020

China's Gold Problem

China recently discovered that some of their gold backed securities were backed by fake gold.  And then there's a new swine flu bubbling up in China in addition to intensifying lock-downs in Beijing over the COVID virus. There's also the border fight flare up with India. That's all not to even mention the new Chinese laws announced to govern crackdown on Hong Kong and it's effect of causing many nations to react to the laws by becoming harder on China. And there's also massive flooding and the potential that the Three Gorges Dam might fail due to shoddy construction. As bad as things are in the U.S., China is really, really messed up.

If you have not heard about the gold situation, these two videos explain it well.

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