There is perhaps no other area where the tunnel-vision, hypocrisy, and corruption of the U.S. media is more visible than with respect to its nearly incessant China-bashing. Previous commentaries have exposed such vacuous drivel again and again and again.

While the subject matter of the Corporate media’s China-bashing varies month to month, regularly interspersed in this propaganda are numerous variations of “China’s economy is in a bubble.” Once again this week, this is a theme in the U.S. mainstream media . Once again, we see hypocrisy of epic proportions.

Chinese markets have rarely looked more like Vegas casinos. In recent weeks, investors have driven up trading volumes in China to astronomical levels, betting on everything from rebar to eggs. China traded enough steel in one day last month to build 178,082 Eiffel Towers and enough cotton to make at least one pair of jeans for every person on the planet.

Admittedly, numbers such as these should give any sober individual cause for concern. They are an obvious symptom of the global phenomenon of worthless, paper currencies being used to pump-up, manipulate, and destabilize our markets – to a degree never before seen in the history of our species. However, singling out China’s markets as being “prone to bubbles” represents hypocritical blindness on the part of the U.S. media which is too absurd to be accidental.

In the United States, there is a little thing called “the derivatives market”. The “notional value” of this market is somewhere in excess of $1.5 quadrillion – more than 20 times larger than the entire, global economy.

We’re no longer sure of the actual size of humanity’s single, largest bubble, because when this bubble first exceeded $1 quadrillion in notional value (back in 2010), the banking crime syndicate simply changed its “definition” of this so-called market, and overnight the (supposed) notional value shrunk by roughly 50%. The U.S. derivatives markets is the proverbial “mountain”, beside which China’s markets are mere mole-hills.

Of course what the Big Banks call the derivatives markets is not actually a “market”, at all. It is simply History’s largest (and most-illegal) book-making operation . In China’s markets, like all global equity markets, most of the trading involves (at least in theory) tangible assets: equitable interests in corporations, physical commodities, etc.

In contrast, with the derivatives book-making operation, the banker “bookies” do nothing but place bets on anything-and-everything. There are no proprietary interests involved. This is how/why this book-making operation could ever become 20 times larger than the global economy, upon which this so-called “market” is based. It is nothing but naked gambling.