Very interesting article. I've been reading about China's "rumored" accumulation of gold for awhile now. They certainly appear to have more respect for it than we or and other major country currently has.

While not a regime to be admired to any degree, in fact quite the opposite, they are also not stupid, especially in terms of economics. While I don't believe their totalitarian system is viable in the long run, they are a huge economy and make us look like pikers in terms of "crony capitalism" (I hate that term as I revere the word "Capitalism", but its usage has become so commonplace I have had to accept it).

It's also no accident they they are also starting their own "world bank", the AIIB (Asian Infrastructure Investment Bank), and, in spite of finger-wagging admonitions from The Fed and Obama administration, almost all of our allies, not to mention enemies, have joined as members. Hedging their bets on the future of the US dollar?

In fact, the easier thing to list is the major countries who have NOT joined: the US, Japan (my guess is primarily because their long-running rivalry and hatred of the Chinese), and Canada. (And I believe Canada is wavering).

In no way can this be a good thing for us or The West. Thanks yet again, Mr. Obama.


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