True, however it would fit a pattern. Also, I don’t think China is infected with the same magical infinite-debt fiat thinking as the west is. As much as we probably tried.
Sure, lots of gold bugs barking and for good reason.
Personally, I’m not a gold bug, though I do hold gold because debt based fiat in an exponentially population increasing, resource depleting world is a physical impossibility and an inherently unstable model. If it’s not gold, big money will flow to arable land and resources as our funny money becomes irrelevant. I don’t think we are there yet, so I’ll stick with gold, for now.
No matter which way you look at it you can’t have infinite growth in a finite world which our monetary system demands.
Or maybe we live in a virtual world and physics does not matter and infinite debt does mean infinite wealth. However, for now, I will stick with thermodynamics over our monetary systems needs.
*Disclaimer: I think 99% of economist are quacks and analogous to medieval court astronomers.
