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China Imploding Now! Triple Lutz Report #493 · Financial Survival Network

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You're listening to Carrie Letts's Financial Survival Network, where you get valuable information you
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and welcome this. It is Financial Survival Network. I'm your host,
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Carrie Letts, and it's time for another triple Let's report. Haven't done one
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in months, maybe maybe it's been a year. And the last one was
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about the Second Amendment case in the Supreme Court where the New York stayed against
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Rawn or Brewer. Can't remember the name in any events, we're talking about
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China. I've been a China follower for two decades now. I visited the
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country twice. I don't pretend to be an authority on it, but I
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do follow other people who are authorities. And Gordon Chang has been saying it
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was going to blow up, it was fake for better part of a decade.
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So we give Gordon Chang the stop Clock Award. Yeah, it's easy
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to say, well, you know, you look at an eighty year old
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person and it's easy to say, well, you know, you're probably going
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to die within the next decade, and the odds are you're going to be
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right. But hey, the reasons that Gordon stated, huge borrowing, huge
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debt bubbles, mal investment, housing, export driven, exploitative, mercantilistic model,
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all these reasons and more. China is in the process of imploding.
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Now now we'll talk about the reasons for the implosion. Like I said,
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printing money, hyper inflation. They have been acquiring gold and other resources,
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but they don't seem to have any inclination to want to back their currency by
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it. You heard a lot about the bricks nations, and now they've dded
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Saudi Arabia and Argentina who wants them, and a couple of other countries.
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Charles Nanner seems to think that the bricks are going to be something I don't
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because their largest economy is China's second. I guess the second largest is India
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and then Russia. And these bricks countries have performed over the past decade since
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the Great Financial Collapse horribly, especially China. China has had no real growth
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during that time. So let's take a closer look because China is supposedly the
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second the world's second largest economy, could be the first. That all depends
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how you judge. It had a monstrous boom for forty years. They opened
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up in nineteen seventy eight. In two thousand, I think it was two
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thousand, they were allowed into the World Trade Organization. A phenomenal string of
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economic growth. Although you know, there's as Churchill said, there's lies,
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they're damn lies, and then there's statistics. Well, you know, you
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can't believe the US government statistics, but normally you can drill down on them
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and tend to get some glimmer of the truth. Chinese statistics are completely manufactured,
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made out of whole cloth, so you can't believe anything that the Chinese
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put out. Nothing. So, yes, they've had an impressive string of
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success, economic success. Hundreds of millions of people have been lifted out of
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poverty, abject poverty. And when you think of poverty, you can't even
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imagine what it's like in these third world countries China included because China was once
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a third World country. Now it was on its way to becoming the first
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world country. Will see what happens. So what happened basically the current regime
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there by g pretty much meddled in everything. They didn't understand the reason for
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China's success over the past three and a half decades. They thought it was
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just China is great, and know that might be the case, China might
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be emerging great power. But it wasn't because China was great. It was
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because they unleashed the power of individuals, of entrepreneurs. Everyone in China was
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in business making money, and once they started to interfere in the economy and
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really stop the process, that unleashed this tidal wave of wealth creation. It
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was basically beforegone conclusion that this thing was going to bomb out. When you
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look back when they first started their their economic success, they just come off
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of the you know, the counter revolution, the great leap forward, and
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most of China's economy was done to was done through state owned enterprise. Is
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incredibly inefficient, corrupt, well, corruption is the rule of law in China.
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Okay, everybody is getting something, everybody's on the take in a lot
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of ways. It's not that much different from the United States. However,
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in the United States, the entrepreneur, the driving force behind a project,
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knows he's going to have to pay out somewhere between five to fifteen percent to
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let us charitably say, grease the wheels. In China, you might be
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paying the CCP, Chinese Communist Party officials, and local hanchas fifty percent.
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So then you have to cut back on every single ass back to the project
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in order to attempt to earn a profit, and that includes screwing subcontractors and
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cheating on the specs of the job. But that's another thing that we're going
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to get into. The point is that once the Chinese Communist Party again became
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the dominant party in the country's economy, that's when things really started to head
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downhill. And now we fast forward to today floods, natural disasters. I
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mean, China makes Florida and California look like totally safe and secure places the
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way things work there. They've just had these enormous floods. Beijing was getting
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flooded along with a ghost city that she's personal project. So what do they
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do. They don't like try to preserve people, save people, don't.
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They go and they blow up dips and they flood the water. They let
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the water create a path forward into lesser provinces and don't give any warning,
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people are getting killed, their properties destroyed. It's just an unbelievable situation.
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Haven't seen that happen in the United States yet. Maybe it will at some
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point. You could argue what happened in Maui was part of some nefarious plot.
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I haven't seen evidence to that effect, but it's certain. It certainly
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is worthy of exploration. But in China there's no exploration necessary. It's like,
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to save Beijing, we destroy the outlying provinces and the people are enraged.
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And then when there's a disaster in China, it's not like the United
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States, where it's on the news twenty four to seven until the next disaster
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comes. No, you see a couple of references to it, and then
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the CCPs totally censors it. So what we're seeing is the infrastructure. Everybody's
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raving about the Chinese infrastructure. It's stayed in the art. It's amazing,
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it's incredible, and they're building tunnels, bridges and all that, except the
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under the corrupt model, all of the CCP half the money gets blown on
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raft. In the United States, maybe it's fifteen to twenty five percent,
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but the project gets done. When there's a bridge collapse in the United States
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on a major highway or a minor highway. It's all over the media.
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Everybody is outraged. We've got to do something about it. The America's infrastructure
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is crumbling. Blah blah blah. Yeah, infrastructure has issues, for certain,
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but the infrastructure in the United States is far outliving its expectant life.
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In China, not the case. They have regular bridge collapses and then when
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there's a flood, everything comes down. In Beijing. After the flooding,
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sinkholes are opening up all over the city, all over the place. And
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sinkholes are a common phenomena because they overpump, over exploit the groundwater, causing
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subsidence. Subsidence of the soil causes building collapses. So you just have to
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go onto YouTube. And a lot of this had been censored and really kind
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of throttled for years. But now all of a sudden, I guess Google
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leaving China. They don't have such an interest in the Chinese model enduring,
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and now they're all over YouTube and all over Google as well, and you
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need to go take a look at a few of them, just to see.
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One show that I really love is China Fact Chasers these two guys had
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written around the country in motorcycles, exploring ghost cities, poverty, all this.
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Finally they had to flee China because their lives and their families were in
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danger. But it's really a great show. It's part of a larger show.
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I think it's called the China Show that they also do highly recommended.
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But the point is their infrastructure, brand new infrastructure. They show pictures.
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They go into a building and you know, every free stairwell in a high
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rise in the United States has to have a fire hose, or at least
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one per floor, depending on the size of the structure. In China,
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they had a similar rule. Except when they did the inspection of these fire
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hoses and they turned the thing to see the water pressure, turned the valve
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on, nothing happened, and then they would like pull it off. They
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just broke it off. Literally, it was connected to nothing. Storm grates
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that are supposed to take away stormwater. They pull up in the grate and
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it's the grates just there. There's nothing else there. It's what this China
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Chaser's Guide calls China is the land of short cuts and facades. So they
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go through safety theater, but there is no real safety there. And you
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see these floods. One tunnel got flooded in a province a couple of years
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ago, thousands of people died. You never read about it. The CCP
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never admitted it. When there's a disaster, the CCP, rather than going
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to the aid of their citizens, basically stifles them, shuts them down and
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make sure that no bad news can get out there. But the people know.
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The people know. The CCP looks like it's on its deathbed. In
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China, every dynasty has ended with a great flood. Will it be the
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collapse of the Three Gorges Dam could very well be, since I did my
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report on it. There was actually a YouTube that came out that actually detailed
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the shotty construction and the way they cheated. Shotty construction in China is called
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tumfu drag construction. So the walls are made of tofu and it's got to
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do when when you make tofu and you cook it, you have these dregs
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that are useless. They don't have any flavor anyway. Tofu drag. That's
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all you need to know. China is the tofu drag country. There structure
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shot China does best when a Western company like Apple or whomever goes there,
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sets up a factory, sets standards, and gets product, and then they
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inspect the product and they throw out whatever didn't comply. Or when Tesla opens
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up a factory in China, that's when China right now has done best.
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And that's not too belittle the Chinese people, but the Western countries cannot tolerate
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the level of fraud and corruption that the Chinese and the Asians do. That's
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just the fact. Then we look at their real estate marketing. Nobody's buying
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property. Foreclosures in China a whole different animal than here. It's like they
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foreclose on your house and then you still got to pay the debt off,
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so you know you're still on the hook. It's called recourse. In the
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US, certain states are recourse, certain states are non recourse. But after
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the gcf A foreclosure crisis, basically even the states where there's recourse, they
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don't chase the debtor for it. In China, they'll lock you up.
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They have debtors prisons in China. So China, their housing market is on
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the it's collapsing before your very eyes. We had ever Grande and country Garden.
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Now which was twice the size of Ever Grande. And the top ten
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top ten real estate companies in China have collapsed or will collapse probably within the
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next month. Then we've also got you know, the perils of Pauline here.
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It just keeps getting worse and worse. The banks are on the balls
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of their you know what, the banks have limited daily withdrawals. The banks,
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a lot of them have collapsed, and there is no FDIC, there's
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no Federal Reserve printing money out for the poor will begotten depositors. No,
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they're just on their own, and they're starting to protest about it. So
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banking industry is on its way out. It's bad here in the United States.
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In the US, look, we've got a banking crisis that started and
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as continuing to unfold, and hundreds of banks potentially will cease to exist if
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the Federal Reserve doesn't and its policy here of ever increasing interest rates. This
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remains to be seen. I don't know how much long are there going to
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go. Nick Santiago on my show, has been detailing this. He was
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spot on. He called for higher interest rates. He was about six months
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early, but he knew it was going to happen higher interest rates. Well,
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in China, they're cutting interest rates. They've got deflation, and so
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you've got infrastructure collapse, real estate market which is anywhere from twenty five to
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thirty percent of China's GDP. You've got banking collapse right and left that you
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don't hear about. And of course export, the export boom is gone,
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aarn investment is gone. There are investors are not putting money into China anywonger
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for good reason. And their exports are down double digit month over a month.
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You can expect that China is going to see mass unemployment right now,
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their youth unemployment, the state says it's twenty plus percent. The reality adjusted
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figures it's closer to fifty percent. Hey, you think we have useless degrees
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in the United States, like puppetry, English literature, blah blah blah.
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Well, advanced degrees in China have turned out to be useless. People getting
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engineering, masters, doctorates, what are they doing. They're doing Uber and
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door dash food delivery services. So you've got implosion of the educational industrial complex.
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People are still trying to go to school, good schools there, but
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they're seeing that the fruits of their labor don't exist, so you can expect
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that mass dropouts, mass closures of Chinese universities. Hey, a lot of
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times we like to issue in the West propaganda about the East, and it's
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not true. It's unfounded, like Russia is losing the war. I don't
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think Russia's winning the war. I don't think they're losing it. But if
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you watch the Western propaganda, you expect that Zelenski will be a you know,
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taking over the Kremlin next week, and it'll be putting a silver steak
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or a wood spike through Putin's heart. I don't think it's quite that dire.
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But clearly the intentions of the war by the Russians have failed because it's
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still going on nearly two years later. But that's just an example of Western
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propaganda propaganda. This is not propaganda driven. What's happening in China. What's
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happening in China is clearly fact based. We're seeing it all over. So,
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Gordon Chang, you were spot on, but you were just about fifteen
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years too early. So it's always better to be right than to be wrong
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at the right time. So if you just stuck with it, you would
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have been fine. You shouldn't have been making predictions as to the timeframe,
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but we love you anyway, Gordon. So what's going to happen, Well,
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implosion of China is going to be. It's going to have effects felt
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all over the country. The question is is the implosion going to implode because
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of political instability, chaos, rioting, civil war or is it going to
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be economic collapse that's going to happen no matter what. Is it going to
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be an economic collapse that that just leads to a new regime and maybe things
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can continue on somewhat. But it's going to affect you because so many of
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the products you and I purchase are produced in China, all of your electronics,
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all of the stuff. This microphone I can tell you was actually it's
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a cloud microphone and it was produced in the United States, but I wouldn't
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doubt if it's got Chinese components, particularly medications, all of the generic medications,
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if they don't, half of them come from China and the other half.
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A lot of the precursors to those drugs are produced in China. Of
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a lot of building materials. So we're going to have this decoupling in this
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deglobalization not so much a result of intent, but as a result of economic
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collapse, and it's going to affect every single country in the world to a
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greater or lesser degree, because China was the world's factory. And hey,
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don't get me wrong, China makes a lot of products. I'm sitting around
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my office here looking at all the great products we have. But they make
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a lot of garbage too, And they have no respect for intellectual property right
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now, intellectual property is considered a property class by most of the world,
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and you're supposed to get royalties and they just rip it off. These are
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facts. I don't make this stuff up. So point is, collapse is
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coming. It could be here tomorrow, it could be here in six months.
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The political situation, they cannot deal with it. They are in no
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position to keep printing money, and they don't seem to want to because they
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don't really care about their citizens suffering. Not that we do here in the
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West. But at least our founding documents showed a care and a consideration for
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the country citizens that current execution of these documents of our government clearly doesn't have.
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But at least we had the right intention. They never had it in
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China, so a lot of things. I suggest you buy at least six
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months to a year worth of medications, even if you're not sick. Buy
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up a bunch of antibiotics because they could be very difficult to get. The
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other question is will a global health scare coincide with China's collapse? To keep
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to keep the people, to keep the sheeple in their place. I just
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don't know. I mean, I know, I hear more mask at choose
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its type style masking taking place, even though we've got meta studies after meta
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studies that show or it'd certainly question the efficacy of the prophylactic capabilities of masking
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for upper respiratory infections. Don't know about that. That's the ambit of conspiracy
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theorists. But just share with you a new shirt that I got. I
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wish I had it here. I show you now. It says I identify
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as a conspiracy theorist. My pronouns are told you so anyway, I'm telling
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you now, it's just like the thirties, but I think the consequences are
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going to be far worse. There are many more people in the world now.
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The farm urbanization has taken people off the farms we have, like in
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the United States, like two or three percent of our total population works on
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farms, and they're productive. I'm not going to talk about the quality of
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the so called food that they produce, but you know, hey, you
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go to McDonald's, you get your big mac with cheese and fries and your
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coke. Not that that's food, but it passes for food in many places
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in the world. So these are just things you need to be aware of.
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I'm telling you this is coming. It's not propaganda. Coincided with the
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war Ukraine. Will China seek to divert attention by invading Taiwan? I don't
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think so. China's targets to target rich environment. They can't attack Taiwan by
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surprise. Taiwan will know it's coming. Taiwan's been digging in for decades now.
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I'm not convinced that it's going to happen. I think saber rattling kind
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of blackmailing the world is really the way to go for them, and that's
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what they've been doing all along. But hey, what's going to happen?
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I can't tell you. I don't know. It all depends whether it's a
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peaceful transition in China or a violent transition. Tyrants are not known for voluntarily
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letting go of power. So that's it for today. Spend another triple lets
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report, carry Lets signing off. Thanks for listening to carry Lets's Financial Survival
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Network, your solution to today's trying times. For the latest, go to
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