China has made some horrendous mistakes as well which could summarised as the “100 DVD factories problem” , easy money has led to massive overcapacity which has destroyed pricing power , I’d like to see how the central authorities there deal with a credit implosion when they have to please millions of cranky peasants that were promised a slice of the action, they are just as likely to print money and build roads to nowhere so although its possible I’ll still think in terms of crappy fiat currencies v gold