You are viewing a single comment's thread from:
RE: Stocks And Bonds Are At A Major Crossroad, Something Has To Give. By Gregory Mannarino
My understanding is that a large part of the money fleeing into cryptocurrencies, especially Bitcoin, is the Chinese trying to get their cash out of China before it is too late since the Chinese government is restricting the flow of the yuan out of China. I don't understand why they are restricting the flow?
I know that the Chinese are having money laundering issues. It is one reason for elevated housing prices in places like Vancouver B.C. They are hiding the money by parking it in housing. Then Canada started increasing the tax on foreign purchases of housing. They did this in an attempt to deflate the price increases. So they want to park their money somewhere so it started working itself into crypto.