...There is a massive leak in the financial system caused by the undervaluation of the Chinese yuan. The Fed expands liquidity to support the system as needed according to their instruments. But the leak causes hundreds of billions of dollars each year to leak out of the system to China, other undervalued Asian economies, and to the other countries that supply raw materials, capital goods, and luxury goods to China or their vassal or tributary states...
Financial Panics and Scandals
For many years, we have kept a running log of financial panics, scandals, and failures. We have updated the list several times each year with new incidents, or with significant historic events. Suggestions for historic additions are welcome, particularly for major historic incidents or events in Asia, Australia/Oceania, South America, or Africa. The following link is to the latest update.