03-06-2011, 12:45 PM
Judging by China's history, dealing with China scares the crap out of me. I had a customer who was an admiral with Navy intelligence during WWII and the aftermath of. I would plan my PM's at his house for the entire day because I just loved sitting with him and listening to his views on China and Russia. He met and married his wife in Russia where he was posing as a Russian diplomat. This guy attended dinners with Stalin.
Anyway, he also lived in China for 15 years as an agent. He was there during the evacuation of missionaries when China closed it's doors to the world. He has several books written about his experiences in China as well as in Russia, but the Chinese accounts are absolutely brutal. He and I had a discussion on China when the military let loose on protesters in Tianimen Square. The Admiral said he was not at all surprised by China's reaction. This man, who is considered one of the foremost informed American's on the Chinese from a political and militaristic standpoint, believed that the Chinese are about the most bigoted race of people on Earth. His opinion was that the Chinese would only tolerate other races long enough to obtain updated technology and then isolate themselves again once the outside world became too influential on the Chinese people. History proves out the Admirals opinions of the Chinese.
What I am getting around to is that if history serves as a standard, China will at some point once again oust all outside influences from China and close it's doors to the rest of the world once again. If this happens again, it will most likely be Taiwan that China will use as a portal of trade to the rest of the world, as Hong Kong was in the recent past.
If this does happen, and I believe it will, I just hope it is not as brutal as the previous times China has closed out the rest of the world. If you think that Muslim beheadings are brutal, just wait till you see what the Chinese do to people they no longer want around.
...seek, and ye shall find;..
So always seek the Truth, not just what you want to believe to be true…
Ecclesiastes 10:2 NIV
03-06-2011, 12:54 PM
It may be 50 years old many out of country banks are FDIC backed.
I responded to to your post because you said I was wrong,no insurance,why do you think I cited Russia. ect.
03-06-2011, 01:01 PM
Very good point.
Originally Posted by coolperfect
But my thinking goes to quell the volatility of the Forex exchange.
03-06-2011, 01:21 PM
. Forex the place that eats little guys like us for lunch?You don't play that do you?
Originally Posted by the mojo
03-06-2011, 01:32 PM
Nope,I like to keep my backside attached to my body.
Originally Posted by coolperfect
But the sharks will be looking for fresh meat from the latest sucker.
03-06-2011, 03:46 PM
Trump? Don't make me chuckle -
Trump is an ignorant and pompous blowhard, just a self-promoting shill for himself. His nickname should be Sound-Bite-Charlie.
Here's some quotes from that article link:
Trump: " . . . Well, you have to understand, Neil, I know China. I know many of the people in China . . .
"many of the people" There are about 1400 million Chinese people. I wonder how "many" of them Trump knows? Say he know one million people - is that "many" of 1400 million?
He will say anything that sounds good and get his name in the headlines. He's a jerkoff publicity hound who acts like a cheap used car saleman.
TRUMP: Neil, we have all the power, because if we ever say we’re going to tax you 50 percent for all of the things that you sell to this country, you could pay off your treasury bills in a short period of time.
This is, of course; nonsense again -
The US's present debt is about $14,216, 240,000,000.
The annual GDP of China is less than 6 trillion dollars. If you assume that ALL of it comes to a US - a 50% tax will yield a 3 trillion dollar annual tax revenue to the US Treasury. And incidentally raise consumer prices . . . . about 50%. I doubt that will impact retail sales.
At that rate it would take about 4 million years to pay the debt down to zero - assuming we never borrowed another dollar or paid any interest.
CAVUTO: Let’s say you’re with Tim Geithner and his Chinese counterpart what, and you’re talking man-to-man there. What would you do if you were Tim?
TRUMP: The first thing I would do is, you better start worrying about currency, because what you’re doing is, with this cheap currency, you know what’s happening with us. OK? So, number one.
WHAT??? Does the effing man even speak English?
"OK? So that's number one.
And he says they are laughing as us Now?
Don't make me chuckle at this knuckle-head.
The only thing I am relatively sure of is this: The Chinese Are Lying.
Just exactly like the Saudi's and their so-called "oil reserves". And I the only man with a pencil and some basic math skills?
Read more: http://www.foxnews.com/story/0,2933,...#ixzz1FqgVPBNq
QUOTE=gtt;9569392]I just don't know GA, China is not Japan. They have a crap load of natural resources, people and brains. I DO hope you are right, though! Do you put much stock in Trump's views? If he has had the dealings with the Chi-coms he say he's had, it gives me great pause![/QUOTE]
The conventional view serves to protect us from the painful job of thinking.
03-06-2011, 04:30 PM
This is kind of related. I hear the Chinese are considering renaming the mall to the obama health care mall as it's big, it's beautiful, it doesn't work and it's unbelievable expensive.
"The American Republic will endure until the day Congress discovers it can bribe the public with the public's own money.
- Alexis de Toqueville, 1835