vrudny,
since you are so well versed, I have a question on shorting. Since you have some account in China, could you think of using a foreign account to short QQQQs. This would sound like a safer way for me, since either the US stock market goes down, or the dollar drops (or both). This way you wouln’t have to fight an uphill battle against inflation, should it occur. I understand that put options, if they are available on foreign exhanges, wouldn’t be any better, since they might already price in the additional risk of dollars. But shorting on a foreign exchange should be easily possible. Any experience on that?