Kyle Bass says it’s a massive “can’t pay,” plus expect this to propel gold even higher and one of the reasons gold is at 6 years highs.

A MASSIVE “Can’t Pay”
August 7 (King World News) – Kyle Bass:  “Chinese companies circulating at least $200 billion of IOUs as real payments dry up. The Chinese property developers are going to detonate. In an economy of $13 trillion, $200 billion is a MASSIVE “can’t pay” amount. US banks lost roughly $800 billion in financial crisis.”

To Be Clear…
Kyle Bass continues:  “This piece says the number is now $675 billion. To be clear, instead of selling the USD they have in “reserve”, they use forwards to hide the real dollars running…ALA South Korea in 97-98. (See below).

What Is China Hiding?

Another Record Low