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Message: <blockquote data-quote="vantexan" data-source="post: 2802076" data-attributes="member: 24302"><p>The Chinese consider copper semi precious and use it as collateral on loans.  They have many warehouses full of copper that, came out a few years ago, that serve as collateral for multiple loans.  The fear was, and still a possibility, that a big enough loan could be defaulted on and the copper collected on it, leaving many other huge loans with no collateral. Whole system could collapse causing a worldwide collapse.  So in regard to your statement, China has a long way to go before understanding and implementing a banking system that actually supports capitalism.</p></blockquote><p></p>