To summarize, banks have ignored PBOC orders, the military is doing their own thing, and food prices are surging with few solutions available to the central government. They have a fixed asset bubble, a likely onslaught of bad loans in the offing, and millions of jobs tied to construction. Many Chinese are worse off and the military is more sympathetic to ordinary Chinese than the noveau riche. Inflation is nearing levels associated with social unrest. The situation is a powderkeg.

Guest Post: Is The Iron Fist Control Of China’s Central Government Coming Unhinged? | zero hedge

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