China heeds Jonny Chevreau's advice about diversification, and its holdings of Ponzi Nation securities

Jonny Chevreau is the guy who fashions himself as the "Wealthy Boomer" in the Financial Post, whatever that means, and based on whatever qualifications that involves, beyond ego itself.

Perhaps it means that he works for the Financial Post as some kind of shill for the Harper government to help the government expropriate Canadians wealth. If that weren't the case then why would he have attacked the victims of Harper's income trust policy as opposed to attacking the totally lame and fraudulent foundations on which that policy was based......as Diane Francis chose to do?

The best piece of Jonny's brand of shill journalism was the one entitled: Earth to income trust investors: Don't blame Ottawa for your investing blunders

This was a treatise on why the money lost on income trusts was investors' fault, and nothing to do with the government having said one thing and doing the exact opposite. Part of Jonny's reasoning was that these investors weren't diversified enough and that income trusts were Ponzi schemes. So the question for Jonny is how exactly does one diversify against the lies of the Harper government?......move out of the country?

I met with Jonny shortly after this article of his was written and told him that a person could be 100% invested in income trusts and still be adequately invested, since at the time there were over 235 different income trusts, spanning many diverse industries and because income trusts themselves are a form of diversification, since they embody the attributes of both debt and equity.

That was to no avail, as the guy was too busy writing his next piece on behalf of the Harper government, by misportraying who CAITI was and what or mission was, and on whose behalf.

I am glad to say, however that it appears that China has taken Jonny's wise advice, and decided perhaps a little diversification away from the true Ponzi nature of US Treasuries perhaps is actually a wise thing. They must have gotten this from the Wealthy Boomer/Shill Journalist:



China Uneasy About Proportion of Holdings in U.S. Treasuries

SHANGHAI, March 13 -- Chinese Premier Wen Jiabao said Friday that he is "worried" about the country's vast $1 trillion holdings in U.S. Treasuries and that China will pursue a policy of diversification when comes to its future foreign exchange holdings.