Singapore 'likely to be hit' if US defaults

[Windsor]

[h=3]Jul 29, 2011[/h] [h=1]Singapore 'likely to be hit' if US defaults[/h] By Aaron Low, Economics Correspondent


SINGAPORE is likely to be among the worst-hit countries in Asia should the United States default on its massive debts leading to a financial crisis, warned Credit Suisse yesterday.
This is because US banks account for almost 15 per cent of total domestic bank lending here, said the bank in a report.
In such a default cum credit crunch scenario, American banks would almost certainly withdraw their funds from the region, including Singapore, said Credit Suisse head of India and South-east Asia economics Robert Prior-Wandesforde.
'Should the US default and a credit crunch happen, it would make the fall of Lehman look like a picnic,' he added, referring to the collapse of Lehman Brothers investment bank in September 2008, an event that triggered the financial crisis.
US lawmakers have been locked in heated, partisan talks over raising a statutory limit on the US borrowings ceiling ahead of an Aug2 deadline.
If the US fails to raise this debt ceiling, it could default on its obligations - sending shock waves across global financial markets, said analysts.


http://www.straitstimes.com/BreakingNews/Singapore/Story/STIStory_696089.html

 

[Windsor]

bros...do your homework and not get caught with pants down. Scouts Motto "Be Prepared."

 

[GOD IS MY DOG]

no one will escape..................deep depression for all..................China will collapse like the Soviets..............

 

[Sperminator]

no one will escape..................deep depression for all..................China will collapse like the Soviets..............

Sorry bro God Is My Dog,

I really don't think it is deep depression for all, as there will be a group of people who created, and crafted this economic depression for massive profits, and pennies on stocks bargain prices.

After taking a look at the financial stories, explaning why USD will crash... it's all about profit.

From my point of view, there are 2 schools of thought.

CASE I : USD CRASH. This scenario is deadly, as 70% of the world trade uses USD as a medium of exchange, and at such short notice, it is very difficult to find an alternative currency to take it's place, and barter trading is difficult to manage, as you would need massive warehousing spaces to keep your bartered goods.

The world will be at a standstill, many things cannot move, and it will result in chaos, panic, rampage, revolts (which is happening in Europe, due to high unemployment rates, imagine if the unemployment rates were to be magnified, and globalized to 70% of the world... we are looking at mass hysteria...)

CASE II : USD inflated, and QE3 is a successful hoax, the ponzi scheme just gotten bigger, and everyone choose to live in the lie, and decide to agree to give USD legal tender just to avoid the CASE I scenario.

I would believe that CASE II may be a likelier case... I really don't want CASE I to happen...

If CASE I happens, China will be affected alot... however, I believe alot of businessmen overseas will consider using RMB as direct trading currency with China (right now, China is going all over the world, and opening up their RMB for global trading. They pitch this idea with BRICs, and also with ASEAN. Only last month, I've heard from some of my Indonesian friends that China Banks are allowing IDR (RUPIAH) to be changed to RMB directly. China is 瞒天过海 Deceiving the world, while crossing the seas... I believe when CASE I happens, China should have some major trading partners on standby to receive RMB to trade...

Please share with me your views if you don't agree, and give me a better view, that's what I know so far...

 

[Devil Within]

Idiots in the Fed will tell you that nobody can see the sub-prime coming, but in fact these people has warned their investor about the inevitable. Now listen to this expert about the next incoming crash.

http://www.youtube.com/watch?v=MukxtjCVc5o

<iframe width="640" height="390" src="http://www.youtube.com/embed/MukxtjCVc5o" frameborder="0" allowfullscreen></iframe>

 

[Devil Within]

Sorry bro God Is My Dog,

I really don't think it is deep depression for all, as there will be a group of people who created, and crafted this economic depression for massive profits, and pennies on stocks bargain prices.

After taking a look at the financial stories, explaning why USD will crash... it's all about profit.

From my point of view, there are 2 schools of thought.

CASE I : USD CRASH. This scenario is deadly, as 70% of the world trade uses USD as a medium of exchange, and at such short notice, it is very difficult to find an alternative currency to take it's place, and barter trading is difficult to manage, as you would need massive warehousing spaces to keep your bartered goods.

The world will be at a standstill, many things cannot move, and it will result in chaos, panic, rampage, revolts (which is happening in Europe, due to high unemployment rates, imagine if the unemployment rates were to be magnified, and globalized to 70% of the world... we are looking at mass hysteria...)

CASE II : USD inflated, and QE3 is a successful hoax, the ponzi scheme just gotten bigger, and everyone choose to live in the lie, and decide to agree to give USD legal tender just to avoid the CASE I scenario.

I would believe that CASE II may be a likelier case... I really don't want CASE I to happen...

Case II will not solve the problem, it will only delay case I and create a bigger case I in the future. Like you've said, it is a ponzi scheme, and like any ponzi scheme, the bubble will burst. It's only a matter of time and the longer it gets, the worst it will be when the crash come.

 

[Sperminator]

If Case I happens, here are my recommendations;

Stockup at least 1 month food in your homes, and stockup water, prepare weapons, and stock up small gold coins, small silver coins.

Why food? If there are no trading possible with USD, singapore will not be able to import food (however, not to worry, Singapore have warehouses fully stocked with food for a nation during emergencies / wars, can go to Fairprice for food

Why water? If 70% of people becomes jobless, they are unable to pay for utilities bill, and government will have to cut on water supply right?

Why Weapons? Because when there are everyone outside parading, smashing shops for food, water, etc... don't you think it's better for you to arm yourself? Luckily Singaporean men are trained in SAF, know how to use a rifle, gun, knife, etc... (PROTECT YOUR FAMILY, your trainings on learning how to survive, and kill is finally in use)

And finally, why gold coins / silver coins? When everything shit hits the fan, everyone will go medival, and hopefully during massive hysteria, everyone view gold and silver as valueables, valueable enough to exchange for food, water, equipments for survival.

If you have relatives with plots of farming land, can consider going to visit your relatives, and stay there long long time... and live off the lands.

If Case I happens, it will be the largest depression, called "THE GREATEST DEPRESSION" man kind have yet to see... and after that, there will be "THE GREATEST WAR", and after The GREATEST War, there will be a ONE WORLD BUILDING...

the unification of the world is well under way... who will unite the world... I hope to see that day.

 

[Conqueror]

Banned US Commercial about the national debt

[video=youtube;0zeTMyNs5aA]http://www.youtube.com/watch?v=0zeTMyNs5aA[/video]


Banned US Commercial about the national debt

 

[Conqueror]

Do I believe in anything ?

[video=youtube;l0jK1z6QGVQ]http://www.youtube.com/watch?v=l0jK1z6QGVQ[/video]



Do I believe in anything ?



[video=youtube;RsxNqOiI8-g]http://www.youtube.com/watch?v=RsxNqOiI8-g[/video]