US Default Will Kill Many Here?

[Gendut]

I don't think Singapore are holding as much USD as before already.. Just look at last wk or the wk before (should be), where MAS announce record loss due to currency exchange.. I think much of currency already diversify to emerging countries.

 

You're right. The past rigorous effort at bringing in RMB trades into Singapore will ensure convertibility. But thats not a done deal yet.

 

I suspect the Chinese are wary at how close we are with the Americans. The only relatively safe treasury is Yen and Yuan. I don't see other emerging economies that can hold S$ up in the event USD collapses. In fact I smell vultures and it may be sooner than later.

[Acieed]

Exactly. But U.S. cannot go to war, they need somebody else to go to war, e.g. China or Europe. The U.S. became a Superpower after Europe and Asia were battered from WWII, and all the funds and talents rapidly move to the U.S. Then they can come back as the savior and pick up the reward.

 

Not only more volatile, its MOST volatile.

 

We only have 127 tonnes of gold which is only 1.5% of our reserves. We really are holding so much cash, probably USD. s--t this is a time bomb. The only problem is the vultures do not know how much USD and Euro MAS is holding. Otherwise an attack on the Sing$ is a big possibility.

 

Added to that is the insistence that we be a very open economy. When there is good times, we do very well. In a bad global economic climate, we will suffer first and suffer the worst. The 2008 recession reflected that very clearly. I'm not sure that we will not do a currency control ala Mahathir-style eventually.

 

I'm contemplating emptying out my CPF before s--t hits the fan.

 

Also the only way out for US is a war that can recoup their previous glory. But for the time being I do not see any cause that US may use to justify war. But knowing how creative Americans are, I'm sure they will think of something.

Edited August 3, 2011 by Acieed

[Yewheng]

You're right. The past rigorous effort at bringing in RMB trades into Singapore will ensure convertibility. But thats not a done deal yet.

 

I suspect the Chinese are wary at how close we are with the Americans. The only relatively safe treasury is Yen and Yuan. I don't see other emerging economies that can hold S$ up in the event USD collapses. In fact I smell vultures and it may be sooner than later.

 

But japan earthquake.. tsunami that hit Nuclear power plants and till now... there is still bits of earthquake happening there. And just today Japan wants to step up against strong yen.

 

http://www.channelnewsasia.com/stories/afp...1144759/1/.html

 

So if like this means, Japan may not be that safe treasury it is now...

 

If the tsunami do not hit the nuclear power plants... Japan will not have so big problem also.

 

Now problem is Power consumption for Japan must be cut.. which hurts Japan economy. Like that how?

Edited August 3, 2011 by Yewheng

[Joseph22]

But japan earthquake.. tsunami that hit Nuclear power plants and till now... there is still bits of earthquake happening there. And just today Japan wants to step up against strong yen.

 

http://www.channelnewsasia.com/stories/afp...1144759/1/.html

 

So if like this means, Japan may not be that safe treasury it is now...

 

If the tsunami do not hit the nuclear power plants... Japan will not have so big problem also.

 

actually, i think the tsunami actually help Japan in some way. they had been in bad financial bad stage for quiet a few years liao. i though that the natural disaster might help them do a restart and start afresh.

 

for earth quake, they always have it all year round, so its not a major concern i believe.

[Yewheng]

actually, i think the tsunami actually help Japan in some way. they had been in bad financial bad stage for quiet a few years liao. i though that the natural disaster might help them do a restart and start afresh.

 

for earth quake, they always have it all year round, so its not a major concern i believe.

 

than power consumption how?

[Nhyone]

Personally, I think it's the end for US, but this kind of thing takes a long time to play out -- decades, even centuries. Just like the Roman Empire.

 

In year 2000, the US holds "just" US$5.6 trillion in debt. In 2010, it is US$13.5 trillion. In 2020, it'll be US$30 trillion, but by then, does it matter any more?

 

If you look further back, say 1980, the US debt was a "mere" US$1 trillion. From this alone, we can see that fiat money is worthless in the long term. Better buy something tangible.

[Joseph22]

than power consumption how?

 

 

they just have to rebuilt the infrastructure. this in itself is a business too.

[Gendut]

Do you believe when I say nothing can kill off the Japanese? Thier deficit is >200% GDP. For 2 decades they have stagnated. Now I see it more clearly, the atomic bomb did not do it, nothing can.

 

Among the races in the world, they are unique. Their insularity and dogged determination to remain Japanese will see them thru any crises.

[Acieed]

They are implementing "Super Cool Biz" with pride even though it is now the hot Summer there, everywhere they have air-conditioning a few degrees above the usual. If Singapore implements this, I'm sure a lot of people will cry father cry mother.

 

Do you believe when I say nothing can kill off the Japanese? Thier deficit is >200% GDP. For 2 decades they have stagnated. Now I see it more clearly, the atomic bomb did not do it, nothing can.

 

Among the races in the world, they are unique. Their insularity and dogged determination to remain Japanese will see them thru any crises.

 

[Joseph22]

Do you believe when I say nothing can kill off the Japanese? Thier deficit is >200% GDP. For 2 decades they have stagnated. Now I see it more clearly, the atomic bomb did not do it, nothing can.

 

Among the races in the world, they are unique. Their insularity and dogged determination to remain Japanese will see them thru any crises.

 

sound like Chinese and Jews. hack sound like every other race.

[Sabbie]

s--t man, markets dropping like crazy, there goes my money....sigh

[Gendut]

sound like Chinese and Jews. hack sound like every other race.

 

Please do not equate Japs with Chinese. They are two very different breeds.

[Plim72]

Not only more volatile, its MOST volatile.

 

We only have 127 tonnes of gold which is only 1.5% of our reserves. We really are holding so much cash, probably USD. s--t this is a time bomb. The only problem is the vultures do not know how much USD and Euro MAS is holding. Otherwise an attack on the Sing$ is a big possibility.

 

Added to that is the insistence that we be a very open economy. When there is good times, we do very well. In a bad global economic climate, we will suffer first and suffer the worst. The 2008 recession reflected that very clearly. I'm not sure that we will not do a currency control ala Mahathir-style eventually.

 

I'm contemplating emptying out my CPF before s--t hits the fan.

 

Also the only way out for US is a war that can recoup their previous glory. But for the time being I do not see any cause that US may use to justify war. But knowing how creative Americans are, I'm sure they will think of something.

 

most volatile, i agreed..i want to believe this time it's different. All the mighty highly valued FTs which our gov always advocate start migrating here and bring together their wealth, businesses and bottomless spending power to our little red dot ha...all well ends well, for the swiss of the east... wake up!! look likely another bloody night ahead good luck guys

[Joseph22]

Please do not equate Japs with Chinese. They are two very different breeds.

 

yeah most are cross breed between chinese and Native Japanese.

[Without_a_car]

If Iran takes over OPEC and start pricing oil in RMB, RMB can take over USD as reserve currency.

[Yewheng]

s--t man, markets dropping like crazy, there goes my money....sigh

 

I keep give waring and you still trade.. -_-

[Yewheng]

Looks like when US currency crisis happen Peter Schiff video clip going to go to history book again

 

[Yewheng]

 

[:(]

Edited August 3, 2011 by Yewheng