Part 3/9:
Hayes elaborates on the ongoing Chinese property bubble, describing it as the largest in human history. He predicts that any forthcoming monetary stimulus in China will dwarf the stimulus packages seen during the COVID-19 pandemic. This sentiment reveals a potential influx of liquidity that could impact global markets, presenting both risks and opportunities for crypto investors.
Moreover, he addresses how the Chinese government’s high level of control over the credit system creates a unique set of challenges. If the credit bubble bursts, the ramifications could be seismic, leading to widespread consumer destitution and decreased demand for various commodities, including crypto assets.