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Chinese property developer Evergrande defaulted in 2021 and recently filed for bankruptcy protection in the United States. But it wasn’t until today that the company’s stock resumed trading after 17 months of absence from the Hong Kong stock exchange. The results were about what you’d expect.Shares of the world’s most indebted property developer plunged as much as 87% on its open on Monday, trading for the first time since March 21, 2022.Shares fell to as low as 22 Hong Kong cents on Monday, compared to its last close at 1.65 Hong Kong dollars per share on March 18, 2022.The resumption...

Tyler Durden 01/23/2015 Submitted by John Rubino via Dollar Collapse blog Yesterday the European Central Bank acknowledged that the currency it manages is being sucked into a deflationary vortex. It responded in the usual way with, in effect, a massive devaluation. Eurozone citizens have also responded predictably, by converting their unbacked, make-believe, soon-to-be-worth-a-lot-less paper money into something tangible. They’re bidding gold up dramatically.(snip)