25 Apr '13, 7pm

Bitcoin's newest supporter: A crackpot Chinese conspiracy theorist with 1.6 million followers on Sina Weibo

Bitcoin's newest supporter: A crackpot Chinese conspiracy theorist with 1.6 million followers on Sina Weibo

We’ve explored some reasons why the Chinese might be inclined to embrace Bitcoin. But there may be a new one: Song Hongbin , an influential Chinese pseudo-economist with 1.6 million Sina Weibo followers is now singing the virtual currency’s praises. Song made his name writing the best-selling Currency Wars books, a series that blends shopworn anti-Semitic conspiracy theories with Chinese monetary exceptionalism, explaining how a cabal of private banks have for centuries controlled the major Western financial institutions, and how China should respond. Despite aiming for Niall Ferguson, Currency Wars lands more in Dan Brown territory. Still, the books—especially the first one—proved wildly popular in China in the immediate aftermath of the financial crisis, as its criticism of derivatives trading seemed prescient. In 2009, reports of government officials and business leader...

Full article: http://qz.com/76444/a-wildly-popular-chinese-conspiracy-t...

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