Shanghai composite tumbles 6.5% in a single trading session [FXI]

Getting hardly a mention in the news, a major Chinese index saw 6.5% of its fake paper value evaporate overnight based on observations by the market that wealth funds were selling the big Chinese banks.  Because of this, perhaps it's time to look at the FXI ETF chart, shown below.

What I see is a motive run into late 2007, a massive 3 wave decline into late 2008 and now a 3 wave rally back up to the 61.8% fib of green A.  If it leaves off here it will have formed a 3-3 pattern which begs for a 5 wave downward move into green C/blue 2 in order to complete a flat correction to blue 1.  Don't think for a second that this cannot happen.  The Chinese economy is a paper tiger, one big mass of over the counter, uncontrolled leverage.  When it goes bust, it will leave a mark not only on China but on the world.

It's during downward 3rds and Cs where low sentiment opens the "leaders" up to the possibility of wars.  Everyone wants to blame someone else for their own boom/bust economics when the one and only culprit for all of this is the use of a fraudulent money supply, and the elite know this.  So don't buy into any stories about this one being a currency manipulator or that one not playing fair.  The whole system is a big scam, an illusion of wealth.  If you are going to be mad at someone about the coming collapse, aim your anger at anyone supporting the use of fraudulent money be they federal reserve, corrupt members of congress or leaders of the banking system.  They truly deserve what is coming to them.