"Art market ablaze. See WSJ today on China, and eleven simultaneous Damien Hirst shows in Gargosian galleries. Flight from cash?"
As I have suggested many times, the RMB is expanding faster than any currency on earth, 35% of GDP last year.
As the consequences are realized with respect to the Chinese central banking stupidity there will be a flight from the RMB into nearly any other form of asset.
The same will happen to EUR as people seek to escape a collapsing currency .
As the collapse progresses a large number of Australians will also seek to escape AUD
