i agree that gold should be the winner in current situation.
but i doubt that china is that interested in investments in eurozone.
Long term, Europe will be filled with older and older, unproductive europeans and rising millions of muslims, with very little skills besides reproduction, making babies like crazy.
China position would be better when euro and $ will slide, so they can purchase more of western land.
the only thing which probably holds value for Chinese in America and in Europe is their land and natural resources. They can produce everything by themselves. Real estate, roads, bridges are just a bunch of cheap bricks and cheap labour, they can build huge amounts of these with chinese hands.
Western culture and catholic churches, museums also does not represent any practical economic value (besides tourism).
i guess vatican freaks out seeing much larger economic power (Asia)ready to take over the West, Roman system of finance, law, culture, and i hope spirituality.
I made money on this move, but it still burns my arse, clearly this is not a free market, I bet they phoned up their buddies at a few banks and warned them. "You know in the name of financial stability"
Can't have UBS or CS blowing up now can we, and the wankers on the desk didn't trade on it no, of course not.
Makes me want to puke, maybe anonymous and max keiser are right, centrally planned economy != Freedom
Good laugh here. Actually, Switzerland highly depends on the EU.
You're 100% correct, Switzerland depends on EU. Thats why i've said Swiss National Bank, not the whole Switzerland. of course, economies are interconnected.
The bad thing with Switzerland, Europe and U.S. is the high % of population employed in financial sector, which creates and produces NOTHING.
In Asia, population is working to produce some real things and thats how wealth and prosperity is created. The western world just prints worthless currencies and imports goods and oil. It cannot go ad infinitum.
Actually, only 9% of Swiss GDP comes from banking and it does not waste trillions on military and interest on debt, so Swiss will be in much better shape than other European countries for many years ahead. Fixed exch. rate won't change that.