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USA fiscal deficit

Oops sorry I don't t really know about this. I am not in the finance line. Maybe you can ask the China banks in Singapore? There are quite a few branches here. I am not sure about HK dollar appreciation.

But Asia currencies will also go along with the Yuan rise. I was reading the Business times on 19 Dec 06 and William Thomson who is chairman of Private Capital Ltd, Hong Kong and senior adviser to Frank Templeton Institutional Hong Kong and Axiom Opportunities Fund, London made this comment," The Singapore dollar is the Swiss franc of Asia but with better economic management."

 

Thanks Livermore, but besides holding physical RMP in cash, is there a foreign currency account that allows us to hold money in RMP as a deposit account ? Also, if we buy HKG $ instead (these are available in the banks, as foreign currency account) - will it grow at the same rate the RMP grows ?

Thanks again,

 

I am looking at the US currency falling to say US$1 = S$1.50 by end of 2007. The US is in a dilemma. With US growth slowing down, an expected interest rate cut to spur the economy can accelerate the decline of the US dollar. If I remember correctly, I read in a report that 60 - 70% of US Treasuries are owned by China.Oil exporting countries have already reduced their holdings on the US dollar. If China does the same, the US dollar will come down even faster.

This would not be so good for Singapore being an export economy and US is still the largest economy in the world. Big brother China is now more of a export economy. But I believe with their massive foreign reserves which is the largest in the world, one day China will start importing even more from other countries. That would be good for Singapore and the rest of Asia.Finally we will see the Chinese yuan being the number one currency in the world.........

 

Tks ipunter for your information.:-)

 

Sorry about the rubber fingers earlier. I believe the US$ will weaken against China RMP in years to come and I am interested in buying the Chinese Currency. Can anybody out there advise how do I go about doing that ? Is there a bank account where I can buy into RMP ?

Thanks,

 

Hi, I b

 

Yeah.... US needs to see a shrink. They have tendencies towards  megalomania and melodramatic behavior

 

US needs to go see a doctor before they sneeze and affect the whole world............

 

I believe you can simply open a gold account with the bank eg. UOB, after which you can buy physical gold which will be held in custody for you at the bank. Transaction will be recorded in a gold passbook. I've previously done it with silver, but that was some years back. Try calling the bank to enquire or check the sites.

 

If there is a financial collapse it is better to invest into gold? Any advise please and how to open a account to trade.

 

The US is a giant and when a giant sneezes, tremors will be felt around the world. 

 

And the latest news is send more troops to Iraq. The 9/11, and all the wars on terror played a part in the deficit. A financial collapse can occur if the US dollar plunges down    

 

Do they have a choice?

 

The financial report of US Govt. Treasury /OMB report dated 15/12/06 shows that the fiscal deficit is 53 trillion dollars-the country is insolvent. What to do now? Print more money? or face a spectacular collapse?