Image: Jonny O'Callaghan

Image: Jonny O’Callaghan

Are speculative shorts signaling a bottom in gold, and are the Chinese preparing for a public wave 3 flood into the gold market?

 

 

eagle_sale

  1. Mammoth, you are right, in that you have to be very careful in China.
    There are 2 circles in china for every individual and their moral guiding compass. This is a general statement and is pretty much as a result of how they have been influenced by their confucian and buddhist culture over the last 2000 years.
    The first circle is that of friends and family and the golden rule found in Christianity “love thy neighbor as you love thyself” is highly promoted in this circle.
    There is another, yet 2nd circle in which everyone else, foreign, chinese, or other exist. In this circle it is morally permissible to lie, cheat, steal, or impair members in this circle for monetary or social gain. 

    That is why although the Chinese economy is growing and come a long way, it has come at a great environmental cost, as well as the cost of losing a positive relationship with foreign trading partners, as it steals $200-$300 billion a year in Intellectual Property. 
    With that said, you can tell any Chinese person that there are 2 paradigms in China, and they will bow down to you and wonder how you know the Chinese culture so well and they are Strong vs Weak and Rich vs Poor. 
    Anything that makes you look stronger or richer is “good” and anything that makes you look weak or poor is “bad”. This is partly due to someone I still admire but to a lesser degree than before, Deng Xing Ping and his proclamation of all that is rich is good and should be strived for in the late 1970s. No longer was it a crime to WANT things. No longer was it a crime to be different than your neighbor in the way you dress, the way you shop, and the way you spend money. You could now be a distinct member apart from the whole.
    Now, the prima facie CCP which deep down internally love Capitalism for how immensely wealthy it has made them and how much “face” it has given them in maintaining control will not be able to do anything to stem the darker sides of capitalism.

    I know many of my Libertarian friends will be quick to point out that capitalism points to morally good choices, but that however only happens in the backdrop of a culture that is influenced by its norms and history. 

    • I agree with your comments on Chinese culture but at times it almost seems as if there are 3 circles:  #1 is family and friends; #2 is Chinese not in #1; and #3 is non-Chinese.  Similarly, it is not acceptable to cheat anyone in group #1.  It is acceptable but frowned upon to cheap those in group #2.  It is encouraged to cheat those in group #3.  I dunno… maybe I am reading this into it?
       

  2. Oh Boy! MY old sport of choice! Mountain biking! Hearing the name Ned Overend was a ‘flashback’ moment!
     
    That aside, I enjoyed the introduction to those guys, Doc … they seem to have great ‘attitude’ … Thanks!

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