Originally Posted by
Skol
'China increasingly holds the cards'
Goldbugs revile America and ridicule the recent political deadlock, democracy's not perfect but sure beats the hell out of communism where the leaders are a collection of geriatric 'yes men' sitting around clapping each other and singing 'The East is Red'.
Pollution causes 470,000 premature deaths each year in China
You guys can back China with your money but I won't be. When the Vietnam war was on there was the domino theory that one country after another would fall and become communist, it was Stalin's (and subsequent leaders) and Mao's firm belief and craving that the entire world would end up a communist paradise , but in fact 20 years later the domino theory worked in reverse and communism became virtually extinct with the exception of North Korea, Cuba and China. Cuba will be the next domino to fall, probably once the Castro dictators are 6 feet under. 98,000 US citzens visited Cuba in 2012.
If there's one place on Earth the numbers are being doctored it's probably China, corruption is endemic
Why do you think there's so many Chinese diaspora? (locally known as the asian invasion) Anyone with money in China owns a house (and bank accounts) overseas to educate the kids and have a bolthole in case it goes pear-shaped in the Middle Kingdom, there's hundreds of thousands of riots there very year, it's a state secret exactly how many, but because westerners aren't killed we don't have the actual numbers since 2010, when there were 180,000 riots and strikes, an average of just under 500/day. How many were killed in Tianenmen Square is still a state secret.
There's a chance China will implode and become the next Yugoslavia.
Shanghai Composite Index
1 year +6%
2 years -10%
5 years +15%
S&P500
1 year +18%
2 years +46%
5 years +80% (92% incl dividends)
The gold bubble's burst but the goldbugs still hanker for the good ol' days of $1,920 while losing their moolah, in the meantime those that have bet on the US stockmarket have made money and will continue to do so.
I own an AMP mutual fund that's heavily weighted toward the USA, as of 2 months ago it was up 21% for the last year, gold's down 26%.
Using the WSJ mutual fund screener, in the last year, the average precious metals equity fund is about -48%, the average large cap fund was +15-20%.
The goldbug proclivity to despise the USA has cost them very dearly.