How does China having a lot of gold lead to instability? I though it would be a good thing having reserves of wealth it gives them room to manouver and stimulate the economy? I am not sure what your point is about oil - my point would be is that a low oil price tends to stimulate economic growth.
PS: I would rather have some 'systemic instability' than a depression. The governments and central banks had to intervene the way they did to avoid one. Another way of putting it is that because we have had a Great Depression it meant that we didn't have another one. Ie the lessons had been learnt.
