China May Have $5.8T in Hidden Debt with ‘Titanic’ Risks

Re:China May Have $5.8T in Hidden Debt with ‘Titanic’ Risks by lifeisstillgood on Tuesday October 16, 2018 @06:45PM (#18233947)

I think a large amount of bitcoin prices are attributed to western banks explaining to wealthy chinese how to transfer money out of the country on a large scale.

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Re:China May Have $5.8T in Hidden Debt with ‘Titanic’ Risks by Retric on Tuesday October 16, 2018 @07:23PM (#18234166)

Bitcoins don’t work for that. If you want to buy bitcoins with Currency X you need to find somone that wants to sell bitcoins for Currency X. Similarly if you want to sell bitcoins for Currency Y you need somone to buy them in Currency Y. Net result you can’t get large net cash flows unless people can exchange currency X for Currency Y.

PS: Bitcoin mining is another story, but it’s little different than building anything in China and selling abroad.

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Re:China May Have $5.8T in Hidden Debt with ‘Titanic’ Risks by adanto6840 on Tuesday October 16, 2018 @07:14PM (#18234105)

Sincerely asking: Are you serious? Do you have sources, good or otherwise (even rumors or talk of this topic)?

What exactly is it that you think is happening, if I may ask? Does a Chinese citizen, perhaps vacationing in the US, walk into BoA or WF and ask a wealth management advisor how to move money to their newly opened account there?

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Re:China May Have $5.8T in Hidden Debt with ‘Titanic’ Risks by lifeisstillgood on Wednesday October 17, 2018 @06:41PM (#18244459)

yes.

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