China is NOT sending bitcoin to the moon. The sobering reality of the recent stimulus.

https://i.redd.it/60pt1bfyqqqd1.jpeg - this is a headline summary of the recent "stimulus package" in China.

https://www.investors.com/news/china-stocks-baba-cat-fcx-climb-on-more-beijing-stimulus/ - addressing buybacks and cash handouts. You would very likely have to be demonstrably impoverished to qualify for cash stimulus. Like so poor you don't even have a toilet to poop in.

The latest reported China stimulus measures include unspecified "living allowances," cash handouts to the poor ahead of Oct. 1, which marks the 75th anniversary of Communist rule.

Additionally, Shanghai's government plans to give out 500 million yuan in consumption vouchers for dining, accommodation, cinema and sporting events, according to the Xinhua news service.

Beijing also reportedly plans to recapitalize six big state banks with about $1 trillion in yuan, or $142 billion.

The amount of money being used is just one fifth of the first round of stimulus/bailouts that the major banks on wall street were given back in 2008, when George Bush gave them 700 billion near the end of his second term as president. Wouldn't you think the amount of cash put in people's hands in China would be far less than that amount?

Bloomberg announced yesterday that the amount to be printed and handed to people is roughly 22 billion for a country with a population 5 times larger than the United States. Source: https://prnt.sc/Op62CzyyADwx - I would link to to the Bloomberg article in question if it didn't have a paywall set to it.

By comparison, Americans got 814 billion USD in stimulus payments to their bank accounts (source: https://prnt.sc/7jkIUHEv6pjM). please note: I'm under the impression that since it was 476 million payments, this number assumes total money printed and gifted to Americans in both rounds of stimulus in America, If we assume that this figure includes the 2000 they got later, then this would mean that approximately 40% of that figure (or in other words almost 326 billion) was given to Americans when the pandemic first hit.

So, how does this help the average Chinese bitcoiner? Very little. At best, the most "helpful" part of the stimulus is the cut to mortgage rates because that decreases the amount of money a Chinese consumer has to spend to service a bank loan taken out to buy a house or car. It makes money less tight in a household. In a household where there is loose capital, this might help a bit more, but that's it.

If we were going "by the book" with regards to what personal loans can be used for in China, I can post the English regulations from three different banks here, but I'm not going to post an entire steven king novel.

https://www.icbc-ltd.com/ICBC/EN/PersonalFinance/PersonalLoan/PersonalCreditLoan/

https://icbc.com.cn/en/column/1438058389145272639.html

https://www.boc.cn/en/pbservice/pb2/200806/t20080625_1324001.html

The TL;DR for all 3 of these is "You have to demonstrate that you have a business you are trying to launch / start." To qualify for a loan you'd need proof that you rented some kind of real estate to house the business (think office space for an office or a ground-floor garage to start a restaurant or bar or something like that), and then the loan that you get helps you pay for things like renovations, buying business-necessary equipment, etc. etc.

Whereas in America you can get a bank-loan using a new car as collateral and maybe the bank loan cannot be worth more than half of the kelly blue book value of that car (the latter part I'm not sure of, but the first part I am sure of).

Thanks for coming to my ted talk.

EDIT: The reason I made this post is because a few weeks ago people were circling around and worshiping a Forbes article and Arthur Hayes stating money printing would go to the people. Most of the "stimulus" can be demonstrated this analogy: The U.S. government giving food stamps to a single mom who can barely pay rent while living in partially-subsidized housing. Stimulus does not always mean cash getting handed out to the people. It's not like I have absolutely nothing useful to state about the situation.