At Midnight U.S. east coast time Friday night-into-Saturday, China’s second largest Real Estate developer, EVERGRANDE, officially entered “DEFAULT” status on its massive global debt. This is the first Domino in the coming financial collapse, and it has just fallen, hard.
The China Evergrande Group is the second largest property developer in China by sales.
It is ranked 122nd on the Fortune Global 500.
It is incorporated in the Cayman Islands, a British Overseas Territory, and headquartered in the Houhai Financial Center in Nanshan District, Shenzhen, Guangdong Province, China.
According to Citibank as of Saturday June 4th, EVERGRANDE is more than 30 days past due on interest payments.
This means that hundreds of billions of Dollars will get removed from market makers and banks on Monday 6th June.
Most G20 nation banks, Money Market funds, some State pension funds will have direct or secondary counterparty exposure to this.
China Will only bail out China…by CCP takeover of Evergrande companies.
Foreigners are left holding the bag.
The Tribulation is commencing…
Please repent, carry your cross daily and accept the free gift of Jesus Christ’s Death on the Cross for payment for your sins.
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