Don't believe the hype

Hello everyone.

Just a very quick post on the collapse in the Chinese stock market, and how it's being (mis)reported by mainstream media in China and in the West.

I'll assume all readers know that the Chinese stock market bubble has burst, and that the bursting is ongoing, with many stocks limit down today.

Reports in the media have all been saying the same things, which can be summarised as follows:

1. The Chinese government are doing all they can to stop the collapse.

2.The People's Bank of China is supporting the market, buying shares, helping brokers, and will do anything to keep it all propped up.

3. Interest rates are being slashed again to try to keep the bubble afloat.

4. Eventually, the Chinese will socialise the stock market and maybe the housing market.

Database confirms Max Keiser Guest statement (updated x 2)

Untitled

The biggest challenge of the BullionBars database is knowing what questions to ask of the data warehouse; at any given time there are a number of research streams in progress - but these do take time to build and mature. The biggest advantage (of having a huge chunk of data there) is the ability to run very quick random checks on anything bar-related. Today, Screwtape Files bolsters support for a particular story. Brought to my attention by Bron Suchecki this morning was a Max Keiser interview where guest Dominic Frisby makes a comment regarding Chinese gold bars (ref 20:30-21:15):

Dominic Frisby, Author/Writer

(edited for clarity) "... I had dinner about a year or two ago with the head of Gold at HSBC and one of the things that he described — and most of the world's gold goes through HSBC, at some stage — looking at the gold in his vault ... despite the fact that China is the biggest producer - he never sees bars, with Chinese stamps on them ..."

THIS OBSERVATION IS SUPPORTED BY THE DATA WE HAVE ON RECORD.