Thursday, November 21, 2013

Bitcoin Could Destroy the Dollar and PBOC

Two stories from today's headlines. 

Bitcoin Could Destroy the Dollar

PBOC Says No Longer in China’s Interest to Increase Reserves

China is an early adopter of Bitcoin.  The rush is on and those that get there first with the most win.  Winning is dominating in a winner take all game.  Or should it be called taking all from someone that is an easy mark identified by arrogance, over confidence and so focused on extraction thinking they are at the top of the food chain?  

Does China play Macduff to USA Macbeth.  

Who plays the role of the witches?  

 Now come the apparitions. Each is an illusion created by the Witches to lure Macbeth to his destruction, but they can only do so with the help of Macbeth himself. As with horoscopes, everything depends on the interpretation, and we tend to interpret by the light of our own hope and fears.

It is an old story.

Chinese are very clever people.  I have said that before in many prior entries.

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