China's Slow-Motion Sleight Of Hand Shatters

``[China] should have stayed out of all markets. Just like western central banks. All interference by governments and central banks can only make things worse, a fact at best temporarily hidden by the distortions they force upon markets. And we shouldn't forget that expectations for China as the world's economic savior determined western central bank ‘thinking' to a large extent over the past decade. Like so many others, central bankers too are incapable of spotting a Ponzi when it's staring them in the face.''