All this ruminating about Wall Street and how this or that will happen is like talking about the fly that's irritating you rather than the man with the bat standing over you.

Instead of worrying about what Wall Street may or may not do and what effect it will have on this or that is navel gazing.

Imagine if you have an altogether new asset class, call it whatchamagig. And now you're all excited because it's new and suddenly has gained followers and value. And you are wondering how the buying selling of whatchamagigs is going to be be done now that everyone who sells stocks and bonds is interested. Whether the new buyers and sellers of whatchamagigs are going to start selling them the way they currently sell stocks, bonds, commodities and derivatives. You're worried that they are trying to fit it in with these other assets.

Even more, you start to fear that when responsible democratic governments see that their role of managing their economies for the benefit of their citizens may be undermined, it may be a bad move.

So you start to worry that it will be regulated and published standards and protections will start to be applied and these will have to be paid for and and and.

But now let's look behind the curtain: it's the wizard of whatchamagigs! AHA!!!! There's really ONLY ONE guy creating them and controlling the entire infrastructure.

Scary, right?

No. Not a problem. Just don't look behind the curtain. China will just keeping running Oz for the benefit of the world... as it sees it.