The Evergrande affair – potential New Year shockwaves
Thinking of potential sadness into 2024.
What about the possible global fall-out that could shake around the world come the end of next January when the bosses and advisers of the mega-property empire, known as Evergrande, has to appear for the eighth time in the courts before Judge Linda Chan.
Answers and new schemes are required for submission to stave the total collapse of the $300bn indebted colossus.
Creditor Top Shine Kong is gunning for Evergrande, one of the major Hong Kong/Chinese property development groups, to be placed into the hands of the liquidators KPMG.
The aftershock could well prove to be felt globally if Evergrande does eventually fall, especially without the visibility of any Chinese Government support.
Gold - roof-raising
As I noted a couple of weeks ago, I have been a long-time fan of gold.
The last week has seen it edge toward record highs, with $2,135 being scored last Monday.
It fell back but, I remain convinced that it will break even higher again than last night’s close of around $2,046.
Bitcoin – on the climb too
Not that I will ever touch this particular ‘currency’ I have also noted the recent heady stretch in the ‘value’ of the crypto exchanges.
With the continual discussion of even the Bank of England considering launching into the digital currency – the whole arena ‘frightens’ me.
As international money launderers, drug dealers, total crooks and the like have helped to decimate the accounts/wallets of various crypto players – it really is not for me.
Please be careful, though, if it is for you.
Do not get sucked in by the wonder headlines of fortunes being made.