Chinese Interest Rates Are Spiking Again, And Jim Chanos Thinks We're Witnessing A 'Bit Of A Banking Crisis'

While the Fed's decision to taper back its monthly asset purchase program to $75 billion has received a lot of attention, many have overlooked the news out of China.  The seven-day repurchase rate was up to a six-month high of 7.6% in Shanghai on Friday. It closed at 7.06% on Thursday. The People's Bank of China [PBoC] injected money through short-term liquidity operations on Thursday. We already saw a severe credit crunch in China back in June, and some are worried that we're going to see a re...