a country like usa can print fiat currency and no one can question them about it,with no gold or precious metal backing backing it, subprime lending down,so no country would want ti invest in us markets ,making the value of us dollar go down and with unscrupolous countries selling offf their forex reserves ,countries holding on to the dollar will be the ones lost ,so if india holds on to the dollar which is falling in value , will nothing but paper in our hands ,we must thru govt entiries and govt bked fierms invest in the african nations by helping them in stabilising their economy and political turmoil, or india should buy gold as the future is to be predicted ,gold will be the great equaliser
RE:india save yourself
by sanjay bhardwaj on Dec 19, 2007 01:47 PM Permalink
clifton officially speaking usa has the biggest gold reserve ... they print currency against precious metal holding that is the reason all trust dollar ..... even if the euro becomes strong people might not trust it since even poor countries in europe like poland, romania, kososvo, etc can print euro ... uro can be used as bench mark for pricing but people will prefer dollars when it comes to expecting payment ...
RE:india save yourself
by cynic on Dec 19, 2007 11:47 AM Permalink
that is only as long as world expects dollar as the default currency, if gulf countries, china switch to euro then dollar will become worthless. But you are right India needs to use its foreign exchange reserves as a weapon of war and buy up some strategic pies in US companies like how the Gulf guys are doing.
RE:india save yourself
by Bhola on Dec 19, 2007 11:57 AM Permalink
They wont switch to Euro, hasnt happened, EUROPE DONT HAVE THE MILITARY MIGHT AS YET OF AMERICA.
OIL is traded in DOLLARS. Dollar is accepted worldwide NOT EURO.
EUROPE itself is dependent on USA for security and nuclear umbrella, as of now they cant do on their own. RUSSIA bullies european countries even today and gets very high prices for its gas. European Union has to develop military muscle to defend itself against RUSSIA who are increasingly assertive. UNTIL THEN DOLLAR will rule.
USA invests billions in new weapons and systems, When rest of the world is making missiles, USA is investing hugely in laser weapons which no missile can match. Laser travels at speed of light.
China is all big nothing inventive or innovative. just a big mass. CRAP aircraft or weapons.
RE:india save yourself
by cynic on Dec 19, 2007 12:17 PM Permalink
such simplistic notions about military might. Let me tell you one thing, at the time of last crusades it was the muslim world more advanced, better weaponry etc, but westerners won, situation is now reversed. And btw US cannot stop China from developing its weapons etc, coz the US depends on China for cheap imports and if China does not export cheap stuff to US, US will collapse.
RE:india save yourself
by Firelite on Dec 23, 2007 02:27 AM Permalink
And china will also collapse. Today America is the No. 1 Importer of chinese goods. Once they stop how do u think they will feed the workers who worked on the factories.
RE:RE:india save yourself
by Bhola on Dec 19, 2007 12:23 PM Permalink
US AUTOMOBILE PRODUCTION AS OF 2007 -8 million units. and yes even Toyotas hondas and merceds are produced right in the USA.
RE:RE:india save yourself
by cynic on Dec 19, 2007 12:42 PM Permalink
western giants like Google were forced to agree to Chinese diktats if they were to be allowed to do business, so much for economic clout of europeans and US.
RE:india save yourself
by cynic on Dec 19, 2007 12:40 PM Permalink
really, there were riots this year too, European union is a soft target for muslim extremists. They belive in pacifism, they are going to suffer for it. Very soon France will have 50% muslims,
RE:india save yourself
by Bhola on Dec 19, 2007 12:33 PM Permalink
European Union has a nominal gross domestic product of (US$16.6 trillion) amounting to 31% of the world's total economic output. It is also the largest exporter and the biggest trading partner to many countries including very large markets such as India and is one of the top trade partners for many others such as China. 163 of the top 500 largest corporations (measured by revenue, the Fortune Global 500) are headquartered in the EU.
EUROPEON UNION is going to have a president in 2009.
RE:india save yourself
by cynic on Dec 19, 2007 12:30 PM Permalink
china will take another 20 years to come up to western standards, Warren Buffett certainly thinks so. As I said only US remains strong among western countries, other western countries are just so much hype. Very soon in most of the states muslims will outnumber whites lol, it is already happening in France 23% are muslims and yet the whites dont want to have any children.
RE:RE:india save yourself
by Bhola on Dec 19, 2007 12:44 PM Permalink
GOOD FOR CHINESE, they dont get to enjoy 35 hour work weeks seen in France. I surely dont want to be born as a Chinese.
RE:RE:india save yourself
by Bhola on Dec 19, 2007 12:34 PM Permalink
you missed an important point.. SUCH BARBARIANS MUSLIMS WERE THRASHED by French Police, and remarkably not even a single one was killed. such is their efficiency.
RE:RE:india save yourself
by sanjay bhardwaj on Dec 19, 2007 01:47 PM Permalink
clifton officially speaking usa has the biggest gold reserve ... they print currency against precious metal holding that is the reason all trust dollar ..... even if the euro becomes strong people might not trust it since even poor countries in europe like poland, romania, kososvo, etc can print euro ... uro can be used as bench mark for pricing but people will prefer dollars when it comes to expecting payment ...
RE:RE:india save yourself
by rashmin pawar on Dec 30, 2007 01:42 AM Permalink
Indian companies are global only in the eyes of Indians. Elsewhere in Europe/US their products are looked upon as inferior in quality. There is little or no brand building in India nor quality consciousness. Indian companies only cater to CIS, Asia and Africa and are not marketable in US and Europe due to quality reasons. I have never seen an Indian product been sold in any of the stores in the US (except for some American branded sweatshirts which are made in India/Pakistan/Bangladesh) unlike chinese products which flood the markets here. Even Indian s/w professionals are only considered as unprofessional laborers but are hired as they are cheaply available. However, India is growing, FX is flowing in. dunno whether thats hot money (very likely due to active international hedge funds)or whether really its long term capital?
RE:india save yourself
by Yasawant on Dec 19, 2007 03:57 PM Permalink
Why Gold? Why not synthetic crude (some are looking at $200 a barrel)? Why not Swiss Franc or Euro or Yen? Why not a basket of currencies? Why not Remninbi or Loonie or Aussie? Is US already a dead economy?
RE:india save yourself
by Sathya Ramanan on Dec 23, 2007 12:50 PM Permalink
Everyone will agree that Western people changed the world in the last 100 years starting with Machineries, Automobiles, Electricals, Electronics, Computers, Internet, Mobiles etc. But there is always some saturation for any invention. We have invented a lot of things and now the invention will become slow in the future and mass production industry will be growing more and taking these inventions to all the people around the world (For eg. TATA is planning for a 100K INR for a car). This means western countries growth will be slowed down and countries like China, India will have more growth in the near future. I don't think of anything big invention will happen other than alternative fuel. This doesn't means the quality of life of an Indian or Chinese improve. We all be more rich in terms of numbers (any currency) thats all. You can see in papers and tell that you earn equal to a guy in London or New York and live in a house worth 300K USD or 100k BP. But still we need to struggle for good water, good food etc in our daily life.
