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Strategies & Market Trends : Mish's Global Economic Trend Analysis -- Ignore unavailable to you. Want to Upgrade?

To: regli who wrote (52613)	6/19/2006 11:42:30 PM
From: Moominoid	Read Replies (1) \| Respond to of 116555

I think that China is really "riding the tiger" - they didn't think about how to get off when they got on.

To: regli who wrote (52613)	6/20/2006 12:42:21 AM
From: RealMuLan	Read Replies (2) \| Respond to of 116555

>>How many dollars does China want to accumulate when they know they cannot actually use them for anything productive.<< China does NOT want to accumulate any clown bucks! it is those speculators who are gambling RMB appreciation are forcing China to accumulate! At least 1/3 (maybe higher) of China's foreign reserves are short-term foreign debt = hot money, they can turn on a dime and decide to go out. What if China has NO enough to meet the demand when those hot money want to withdraw? Do I need to tell you? Yes, it is highly inefficient for a poor country like China to have to keep that high amount of foreign reserves, but that is the result of the STUPID policy in the last 2-3 decades, especially since joining WTO. So China can only slowly undo the damage and play it safe. A currency crisis of 1997 style could bring the death to MILLIONS of Chinese!

To: regli who wrote (52613)	6/20/2006 10:29:09 AM
From: mishedlo	Read Replies (1) \| Respond to of 116555

World's agricultural legacy gets a safe home Vault on Arctic isle would protect seeds The high-security vault, almost half the length of a football field, will be carved into a mountain on a remote island above the Arctic Circle. If the looming fences, motion detectors and steel airlock doors are not disincentive enough for anyone hoping to breach the facility's concrete interior, the polar bears roaming outside should help. The more than 100 nations that have collectively endorsed the vault's construction say it will be the most secure facility of its kind in the world. Given the stakes, they agree, nothing less would do. Its precious contents? Seeds -- millions and millions of them -- from virtually every variety of food on the planet. Crop seeds are the source of human sustenance, the product of 10,000 years of selective breeding dating to the dawn of agriculture. The "doomsday vault," as some have come to call it, is to be the ultimate backup in the event of a global catastrophe -- the go-to place after an asteroid hit or nuclear or biowarfare holocaust so that, difficult as those times would be, humankind would not have to start again from scratch. Cornerstone for the Fort Knox of seeds Once just a dream -- albeit a dark one, attractive only in comparison to the nightmare that would precede its use -- this planetary larder is about to become a reality. Today, on the barren Norwegian outpost of Svalbard, the prime ministers of five nations and a small throng of other officials will lay the cornerstone for what will be, in effect, the Fort Knox of seeds. ... ... msnbc.msn.com What a waste of money. How much is this boondoggle supposed to cost? looming fences, motion detectors and steel airlock doors .... protection from what? Who is going to attack the place? Mish