If you are planning on collapsing the dollar or the US economy as a whole, or you have projections that something like that may happen, you definitely want to have your money in a safe haven and invested abroad - hence an account in the Caymans that is heavily invested with Hussein’s comrades in China. The prospect is very scary!
You are getting it wrong. Romney was talking about Obama’s being a part of the federal pension system. The federal pension system makes investments just like mutual funds, including mutual funds. Those investments are many and varied, including Chinese and Cayman Island investments. These are not Obama personal investments; Romney was speaking to Obama’s pension fund which has such investments, just like many gov’t pension plans do. Nothing nefarious; Romney was just pointing out the hypocrisy of Obama speaking about Romney’s trust’s investment strategy, as the fed gov’t pension strategy is just the same.