China's fast-and-loose financial practices have caught up with the country and now threaten to bring…
by: JD Heyes
China’s fast-and-loose financial practices have caught up with the country and now threaten to bring down the world’s No. 2 economy.
According to video clips posted to social media, the Chinese government is deploying tanks and armed troops to surround banks in order to prevent citizens from withdrawing their money and collapsing the cash-strapped financial institutions.
One post on Twitter noted: “BREAKING: Tanks have been deployed on on the streets of China to protect the banks — Due to the Henan branch of the Bank of China declaring that people’s SAVINGS in their branch are now ‘INVESTMENT PRODUCTS’ and can’t be withdrawn.”