Evergrande Default Confirmed
Evergrande, the largest property developer in Communist China, has now officially defaulted. The company’s assets have been seized by the Communist Chinese Party (CCP) but are only worth a fraction of what investors — many of them overseas — originally gave the company.
With the default, global financial contagion is now imminent, says Mike Adams of Natural News. We might see a series of investment companies, banks, hedge funds and other firms going belly up or facing tight financial constraints.
Already, over the weekend, the rolling uncertainty walloped the cryptocurrency markets. Some of these currencies lost nearly 20 percent in one night, and some two trillion dollars vanished in the bubble. We’re likely to see other markets — stocks and bonds, for instance — also heavily whacked, with margin calls made.