China’s banking system is just as Ponzian as the rest of the developed world, maybe worse. The next couple of months are a crunch zone: Watch this Reuters Insider video
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China’s banking system is just as Ponzian as the rest of the developed world, maybe worse. The next couple of months are a crunch zone: Watch this Reuters Insider video
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Although I do own some Gold shares I understand the thinking of some of the Gold bears out there……there are not many pundits who will show you a chart that goes back very far….this one goes back 600 years….you will have to draw the last “spike” to todays price as it only goes to year 2000….$2350 is a magic number that many bugs have predicted Gold will get to ….. doesn’t mean they are particularly bright….just that they can read.
http://www.sharelynx.com/chartsfixed/600yeargold.gif
But at least China makes something. In fact they make almost all the stuff the west buys. So even if they have weaknesses they are far ahead of the west who’s strength seems to lie in gambling on stocks instead of producing tangible goods that can be exported to other countries.
There are other signs, such as the halting of high-speed rail projects throughout China due to funding shortages:
http://www.economist.com/node/21534838