"But my point is this: this is a Ponzi scheme. The local Australians are now priced out of the Ponzi scheme. The scheme can only keep going buy finding new entrants. I am sure, one day, when Australia learns what happened"
For your Dandoff with the exception of gold everything is a ponzi scheme, that is, of course, because as long as there are CBs gold has an intrinsic value well above current and future prices.
As to the Sydney property market problem you have discribed you have got what you and your goldbug mates have all been asking for: - an environment in which transactions between private parties are free from state intervention. Laissez-faire! laissez-faire! cry the goldbugs. Oui, oui, merci beaucoup - say the Chinese.
And what you wnat now? Government intervention, of course.
