The next ‘Lehman Moment’

Daily Reckoning/James Rickards

Repost from 10-6-2021

photo image of pagoda on reverse of the Panda gold coin“The happy talk out of Wall Street would have you believe that the Evergrande financial collapse in China is under control and that responsible parties have taken steps to avoid a ‘Lehman moment’ in Chinese capital markets. Almost everything about that narrative is factually wrong. It’s Wall Street happy talk at its finest …”

USAGOLD note: Rickards walks us down the darker corridors of China’s developing financial crisis and raises the prospect of a more dangerous world as a consequence. Accompanying China’s recent travails is rapidly rising demand for physical gold as a safe haven and store of value. In that respect, perhaps China is shining a light down that dark corridor ……

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