Tuesday, June 5, 2012
Ponzicrats: What you Get When You Cross Gold + Melamine + Plutocrats
China Purchases A Record 100 Tons Of Gold In April From Hong Kong
Good luck with that. May be getting desperate, as they run out of ideas?
Gold may be seen as a good personal hoarding strategy for some, but only for local reasons that are always bad for the aggregate. It's basically giving into to private paranoia that further coordination won't be possible. For aggregates, it's better - by far - to hoard coordination capabilities.
Aka, Chinese economy in the final stages of the largest Ponzi scheme ever devised
Conclusion? There's evidence that it's been 3.5 billion years since life appeared upon planet Earth, and "2 steps forward, 1 step back" is still the reality.
China will be fine, eventually, but ONLY after all the Benedict Arnold Plutocrats run off to Switzerland with all the gold. Then the serfs can get on with organizing on a larger scale.