“After China’s stocks crashed in June, the government put more than $400 billion at the disposal of a little-known state agency, the China Securities Finance Corp., headed by an academic and bureaucrat named Nie Qingping. Four weeks into the new role, the picture emerging from Nie’s published books and commentaries, as well as interviews with fellow academics, is of a professor with 25 years of experience watching stock manias — who still got blindsided by China’s latest crisis. Since China Securities Finance started buying on July 6, a measure of volatility in stocks has surged to nearly a 20-year high. On July 27, the Shanghai Composite Index plunged 8.5 percent, the most since February 2007.”
Did you like this?
Tip Freedomwat.ch Staff with Bitcoin
Tip Freedomwat.ch Staff with Bitcoin
Related posts:
Russia pulls out of decade-old drug control agreement with U.S.
Glenn Greenwald: Major opinion shifts, in the US and Congress, on NSA surveillance and privacy
France Considers Scrapping Its 35-Hour Working Week
Deutsche Telekom to follow Vodafone in revealing surveillance
Ron Paul: Bitcoin could 'go down in history as destroyer of the dollar'
Former North Chicago police chief accused of stealing seized drug money
Italy’s Beppe Grillo Pushes For Euro Referendum
The U.S. economy is roaring, but the yield curve is flattening. What gives?
China Shows How to Destroy a Market
Kerry: U.S. has firm evidence sarin gas was used in Syria attack
GCHQ intercepted foreign politicians' communications at G20 summits
Russia arrests 10 people for commemorating ‘Prague Spring’
Researchers Retract Report That Linked Bitcoin Creator and Silk Road
Chris Christie's Attack on the Civil-Liberties Wing of the GOP
Rand Paul: 'I Ask That We Begin The End Of Mandatory Minimum Sentencing'