China is a communist country. Their actual debt is hidden in local governments. They dictate how much they have to spend but don't give them a revenue source to support that spending.
Posted on 11/03/2024 5:15:56 AM PST by delta7
Your source is the International Monetary Fund? The country with the world’s largest DEBT (yes, the good old USA) is by far the largest contributor to the IMF. Why should our “quota” be almost three times that of China. I trust the “professionals” running the IMF about as much (which is NOT AT ALL) as I trust the “professionals” running the United Nations.
“The collective West is also mired in unpayable debt….the US debt 125 percent of GDP, Russia only about 17 percent. The future is not to bright for the West.”
Russia is small potatoes.
China, the MAJOR PLAYER, is more than 250%. Higher than the US.
https://www.reuters.com/graphics/CHINA-DEBT-HOUSEHOLD/010030H712Q/
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“Your source is the International Monetary Fund? “
And your source is?
You have no idea. You don’t even know the numbers.
“The country with the world’s largest DEBT (yes, the good old USA) “
That is so very false!
“Why should our “quota” be almost three times that of China.”
So we can get almost 3x the votes.
China is a communist country. Their actual debt is hidden in local governments. They dictate how much they have to spend but don't give them a revenue source to support that spending.
China is a communist country.
————
Yes, and no.
communism /kŏm′yə-nĭz″əm/
noun
A theoretical economic system characterized by the collective ownership of property and by the organization of labor for the common advantage of all members.
China is evolving, property ownership is now allowed, departing from true Communism.
“ The new Civil Code (CC) of China, which will enter into force on 1 January 2021, consists of 7 parts. With this series of articles we inform about the essential legal provisions and new regulations in the new Civil Code. This article is focused on some aspects of the second part of the Civil Code – Property and Possession.…..
Private property:
Every natural person is entitled to hold the ownership of real estate such as houses and apartments and movable goods such as their legal income, vehicles, commodities of daily use, manufacturing equipment, raw and semi-finished products.
The State, the collectives and every individual may make investments under the law to establish limited liability companies, joint stock companies or other enterprises…”
https://www.roedl.com/insights/china-civil-code/part-2-property-law
I never claimed you made a false statement.
I simply pointed out that GDP is traditionally expressed in several different formats, which you did not use.
Since the BRICS countries have almost 8X times more people than the G-7 countries, comparing GDP on a 1 to 1 basis is meaningless.
Better?
China is run by communists. Their actual debt is hidden in local governments. They dictate how much they have to spend but don’t give them a revenue source to support that spending.
“I simply pointed out that GDP is traditionally expressed in several different formats, which you did not use.”
He gave no GDP numbers. He just pulled out a Statisca statement. We have no idea of the validity since Statisca does not provide the source data or the source of the data.
Statisca is just a code that scrounges for data.
To buy metals ETFs or not to buy ETFs? I’m not a financial advisor or even offering any kind of advice just my opinion. It is true that gold and silver have been riding high lately however most of us don’t “invest” in metals, no, we consider it a safe place to put some of our money. As far as ETFs are concerned better in my opinion to own and hold the real thing not some numbers on a computer screen. I think having at least a portion of your cash portfolio in gold and silver is a great idea. Set goals and stack until you achieve those goals. It probably will take time. I read somewhere that if you have 16 oz of gold that puts you in the top 20% of people with any gold at all. That’s about $45K worth of gold in today’s market.
Article: “The statutes stipulate that no one can request an audit of the stocks, nor demand delivery of shares of gold bars purchased online. “
Fact: Independent public accountants and bullion auditors have access to the gold vaults,
Fact: “Any investor wishing to exchange the Trust’s shares for physical gold would have to come to the appropriate arrangement with his or her broker and an Authorized Agent.”
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