China is sitting on vast reserves of foreign currency. But there could be a case for a potential Great Depression in this country. The US (in the 1920s) and Japan (in the 1980s) were sitting on huge piles of cash, but these reserves eventually proved useless in protecting these countries from a great bust.
At a recent Barron’s Roundtable discussion in New York where a number of prominent strategists and portfolio managers had gathered, India—the world’s second-most populous country, with more than a billion people and an economy that is growing at around 8% per annum—wasn’t mentioned once.
Billionaire George Soros’s Soros Fund Management LLC has more than doubled its holding in the biggest gold exchange-traded fund in the fourth quarter after bullion advanced 8.9% to a record. The $25 billion New York-based firm became the fourth- largest holder in the SPDR Gold Trust, adding 3.728 million shares valued at $421 million.