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China financials (Brad Setser must-read again)

Non-LatAm post.

Want an example of why reading SinkingAlpha is a waste of time? If so read this lump of drivel about the latest noises from China about introducing a new, non-dollar world reserve currency. By some miracle the conclusion is to buy gold, silver and oil. A total waste of time. SinkingAlpha's model as a blog aggregator really makes little sense when the few good contributors can also be read at their own sites and the many mediocres have no other outlet. Honestly, why bother?

Now compare the tosh to the latest excellent analysis from Brad Setser about the same issue. In fact, scratch this thought. Instead of reading each article once, read Setser's article twice as you'll learn a lot more in the same space of time.