China's largest private asset management company collapses! $400,000 to $700,000,000 per person

#Chinainsights#zhongzhi#Chinanews
Recently, a shocking thunderbolt exploded in China's wealthy circles: the Zhongzhi group has collapsed. Each has invested more than 3 million yuan or 400,000 U.S. dollars. There are 150,000 people impacted. The amount of money involved is 230 billion yuan, and the largest investment made by a single client is more than 5 billion yuan or 700 million U.S. dollars.

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[MirceaKitsune]

When you see a cold blooded mega-corporation issuing such a sweet loving and emotional statement, you know things are really really really bad.

[alhazred]

No sympathy for the financial planners and brokers who participated in such a corrupt system, but I do hope they get a head start running. The rich will find a way to get back their money, whether through abductions, ransoms, or organ extractions.

[ef]

There is no functional systems in place; banks, real estates, investments, When things go wrong, no one, no official, no government branch will take responsibility. You are on your own.

[sivx]

Whoever that one client who invested 700 mil dollars, good luck with getting back your money. It probably wont happen.

[Shineon]

Good! (Guaranteed 99% of those wealthy “clients” earned that money through corruption)……Let the Games Begin….

[CharlieBam]

Looks like an 08 is brewing in china. Overleveraged real estate firms going under, now a big investment firm (like Lehmen) defaults, central bank dropped rates. Exact scenario as 08 in USA unfolding

[tmaker]

There's things you don't play with in life and playing with people's money is the fastest way to upset people.

[takuan]

Oh my heart goes out for the super rich who have fallen on hard times now. They get a bit of their own medicine of destructive greed and corruption. They won't starve though like the common folks who have lost everything due to the CCP's insanity and don't even know where the next meal comes from or where to spend the next night.

[Charvo]

They must have bought a lot of Country Garden and Evergrande bonds.

[JoeMoyle]

The letter made me laugh out loud. The writer is so full of it.

[adamsimmons]

This video is a game changer, I have been looking for the best way to increase my income and start up my retirement, but I really do not know much about investments and trading stocks. I keep postponing every single day that passes, but I want to begin now. How should I start? What do I need to know?

[kodokami]

Mega floods, 70% unemployment rate, chipset banned, traitors in military, mortgage debts, trust fund mismanagement, the disasters go on and on, get your popcorn ready, let's celebrate!

[HKim]

I have a BA in Finance. Worked for a CFP in college.
I still have no clue what they were doing. Will need to rewatch it again.

[nfuryboss]

China's Lehman Brothers moment...

[Unknown.NotRegistered]

A Pyramid scheme of that scale? This is horrible news because most if not nearly all of that will never be recovered.

[jamesdallas]

The rich investors will feel better by reading Xi Jinping books.🙂🙂🙂🙂

[stevefanchar]

Absolutely outstanding they deserve everything they get

[svennielsen]

Same old story: when people have a surplus of money, they will start to speculate. Speculation is the best way to lose waste money. It eliminates the money, that people never should have had in the first place.

[mikeharrington]

This sounds rather like the FTX/Alameda empire's multiple rabbit holes

[dudet]

other people's money will always run out..