Everthing You Worked For About To Vanish?

[OxfordWill]

Increasing the demands of an opposing argument in order to defeat it/ridicule the question/etc is a very old fallacy.

Edited January 27, 2009 by OxfordWill

[Naam]

Increasing the demands of an opposing argument in order to defeat it/ridicule the question/etc is a very old fallacy.

you posted two questions Will. nobody had a valid answer. enlighten us and point out where exactly you see an "opposing argument".

[OxfordWill]

argument, proposition, question. I ask a simple question and you attempt to inflate the gravity of the question in order to make it appear ridiculous. But your evil ways do not get past me, Dr. Naam.

[Naam]

argument, proposition, question. I ask a simple question and you attempt to inflate the gravity of the question in order to make it appear ridiculous. But your evil ways do not get past me, Dr. Naam.

to avoid my evil ways telling people "i don't know" you shouldn't have asked me but the local experts and prophets who will tell you in their benevolent ways in details when and how what currency will fare against any other currency. unfortunately some of the prophets were not quite correct by predicting AUD/USD at par and USD/GBP 2.40, both by end of 2008. now stop sulking as my heart is already bleeding with guilt.

[OxfordWill]

At which juncture, my mission is complete.

[Crash999]

quote: "you can have a tiny CNY account. about the size of a mosquito àrsehole."

does that indicate that one needs a million? or does it say you can only invest a very small amount? are you aware what the expression "tiny" means? are you able to estimate the size of a mosquito àrsehole? if yes, is it BIG or small. give me and yourself a break man! you are ridiculing yourself.

The limit in HK for converting is 20,000rmb (or approx 3k usd) per day per named account with no limit on the size of rmb accumulated. Tis possible to put up a standing instruction of transfer. Helpful if one wants to change, say, usd50k to rmb but of course usd1m would take a while.

Not sure why one would want to do such a thing, though....

[Naam]

Not sure why one would want to do such a thing, though...

perhaps instead of poking the nose because of boredom? for converting CNY back into a freely convertible currency the same restrictions apply of course.

Edited January 29, 2009 by Naam

[Owain]

may i suggest you learn to read AND comprehend what others are posting? i wrote

quote: "you can have a tiny CNY account. about the size of a mosquito àrsehole."

Hmmm. Wrong again it would seem.

The limit in HK for converting is 20,000rmb (or approx 3k usd) per day per named account with no limit on the size of rmb accumulated. Tis possible to put up a standing instruction of transfer. Helpful if one wants to change, say, usd50k to rmb but of course usd1m would take a while.

Not sure why one would want to do such a thing, though....

Edited January 29, 2009 by Owain

[Crash999]

Not sure why one would want to do such a thing, though...

perhaps instead of poking the nose because of boredom? for converting CNY back into a freely convertible currency the same restrictions apply of course.

Yikes... I shouldn't run my webcam when I surf the web!!!!

As for converting from RMB it's an easier process. I closed down a Bank of Communications bank account in Shanghai last year and simply TT'd the money to my account in Hong Kong.

[Naam]

Not sure why one would want to do such a thing, though...

perhaps instead of poking the nose because of boredom? for converting CNY back into a freely convertible currency the same restrictions apply of course.

Yikes... I shouldn't run my webcam when I surf the web!!!!

As for converting from RMB it's an easier process. I closed down a Bank of Communications bank account in Shanghai last year and simply TT'd the money to my account in Hong Kong.

what are the restrictions for foreigners opening accounts in China? a branch manager of OCB in Macau told me last year i couldn't open an account with them (neither Macau nor Shanghai) unless i had a residence, respectively a work permit and the same restrictions would apply to mainland Chinese who visit Macau as tourists (for them of course account in Macau only).

[Crash999]

what are the restrictions for foreigners opening accounts in China? a branch manager of OCB in Macau told me last year i couldn't open an account with them (neither Macau nor Shanghai) unless i had a residence, respectively a work permit and the same restrictions would apply to mainland Chinese who visit Macau as tourists (for them of course account in Macau only).

When I opened my Bank of Communications account my company sorted everything out for me- so I'm not sure what was needed, but knowing how bureaucratic China can be I wouldn't be surprised if all of that and more was required. I couldn't (officially) work until my physical was done, including HIV test. And I couldn't (officially) move into my rented apartment until I had registered as a foreigner with the local police.

The easiest route would be to open a foreigner account in HSBC Hong Kong. Unless you're a US citizen you can do almost everything over the Internet (foreign exchange, money transfers, equities, mutual funds, gold, etc) and the bank in general is very efficient. Coming from China (and before that Thailand) I'm always thrilled when my somewhat unusual requests get done quickly and exactly as I had requested.

[Kharzi]

Brown wants to join the Euro, always had. However never will happen because most British do not want it.

BTW Ireland, Italy, Greece, and Spain are on verge of collapse with the EURO.

What utter gibberish. Perhaps you are confusing Brown with Blair who had no doctrinal objections to the euro membership but this was always thwarted by Brown at the Treasury on the very good grounds that qualification was unlikely and not in the best interests of Britain. In fact, the only good thing the Caledonian beast has achieved is keeping Britain out of that basket case of a currency. This has nothing to do with democracy as you seem to imply and everything to do with the premise that one size does not fit all.

Ireland is Iceland but ironically membership of the euro will save it.

[Naam]

what are the restrictions for foreigners opening accounts in China? a branch manager of OCB in Macau told me last year i couldn't open an account with them (neither Macau nor Shanghai) unless i had a residence, respectively a work permit and the same restrictions would apply to mainland Chinese who visit Macau as tourists (for them of course account in Macau only).

When I opened my Bank of Communications account my company sorted everything out for me- so I'm not sure what was needed, but knowing how bureaucratic China can be I wouldn't be surprised if all of that and more was required. I couldn't (officially) work until my physical was done, including HIV test. And I couldn't (officially) move into my rented apartment until I had registered as a foreigner with the local police.

The easiest route would be to open a foreigner account in HSBC Hong Kong. Unless you're a US citizen you can do almost everything over the Internet (foreign exchange, money transfers, equities, mutual funds, gold, etc) and the bank in general is very efficient. Coming from China (and before that Thailand) I'm always thrilled when my somewhat unusual requests get done quickly and exactly as I had requested.

Crash, thanks for the info (account in China), it confirms what i was told in Macau. as for opening a bank account in HKG i see no problems as my bank is present there too. but due to the restrictions (CNY 20k per day in as well as out) it doesn't make any sense. i only buy assets which i am able to sell minutes later without restrictions (except profit or loss).

[samui04]

Brown wants to join the Euro, always had. However never will happen because most British do not want it.

BTW Ireland, Italy, Greece, and Spain are on verge of collapse with the EURO.

Ireland is Iceland but ironically membership of the euro will save it.

BTW, i'm really annoyed about the inclusion of Italy on the "bad euro" list....

Our banks are still private, no mortgage problems....

We have no oil but we are not bankrupt like UK.

[Crash999]

Crash, thanks for the info (account in China), it confirms what i was told in Macau. as for opening a bank account in HKG i see no problems as my bank is present there too. but due to the restrictions (CNY 20k per day in as well as out) it doesn't make any sense. i only buy assets which i am able to sell minutes later without restrictions (except profit or loss).

I agree with you on that one. To clarify, right now there's no limit to getting out of CNY- but in future should the government ever need to reduce or stop outflows I'm sure there'd be no hesitation in slapping restrictions in place with no advance warning or exceptions.

Now's not the time to be investing in China. It may be a moderately positive picture on the exterior but no one (except a privy few) knows the real picture. Lots of factory closings, sudden escalation in unemployment and crime, drop in asset values, etc all happening quietly right now.