Gold and Silver Juniors, Mid-tiers and Producers Message Board

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Gold/Mining/Energy : Gold and Silver Juniors, Mid-tiers and Producers

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To: AreWeThereYet who wrote (66395)	8/6/2009 5:46:41 PM
From: Earlie	Read Replies (1) of 78409

Hi AreWeThereYet: Banking in China is somewhat different than what we see on this side of the pond. In essence, the banks obey central government directives. Over the last year , huge loans have been "approved" for favoured companies that produce solid products but that have saturated overseas markets. As is the case here, this is simply "print money" that is being poured into a deep bottomless pit. Making things worse, every local jurisdiction has a long list of companies that expect to receive similar treatment. Sounds familiar? (g) The Chinese banks were in lousy shape going into this mess. New lending to companies with poor sales possibilities simply deepens the pit. The Chinese Government publishes data that is easily found on the web. Their deficits are growing dramatically. Best, Earlie

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