Watch out.........!!!!

CASH GRAB: Inactive bank accounts to be seized

Read more: http://www.news.com.au/money/banking/cash-grab-inactive-bank-accounts-to-be-seized/story-e6frfmcr-1226585867131#ixzz2M0DEIZuw

That is kind of funny

They figure if your just saving it must mean you dont need it

This will mean that accounts with anything from $1 upwards that have not had any deposit or withdrawals in the past three years will be transferred to the Australian Securities and Investment Commission.

= government of thieves!

Watch out.........!!!!

In 2011

CASH GRAB: Inactive bank accounts to be seized

Read more: http://www.news.com.au/money/banking/cash-grab-inactive-bank-accounts-to-be-seized/story-e6frfmcr-1226585867131#ixzz2M0DEIZuw

In 2011 the UK government passed the same thing basically but the cut off was after 15years. I put a link to an article mentioning it just yesterday over in the GBP to thb thread.

Heres that link

Last para

http://bbc.co.uk/news/business-21553883

Churchill's vid posting is spot on (and I think most posters that have been following this thread since *cough* late 2008) are knowledeable enough to know that:

We are indeed, in a race to the bottom.

In more ways than one.

Japan, US, and other nations.....

i'd be very happy should my portfolio show another 4½ years "race to the bottom" as it did since 2008

in more than three decades i never experienced such a long continous winning streak. needless to say that apart from some purchase of physical gold all the gains are just worthless fiat money.

Naam,

My portfolio has done well also. Very well. ALL of US have done well.

How long will it last? I have no idea. We....have no idea.

Churchill's vid posting is spot on (and I think most posters that have been following this thread since *cough* late 2008) are knowledeable enough to know that:

We are indeed, in a race to the bottom.

In more ways than one.

Japan, US, and other nations.....

i'd be very happy should my portfolio show another 4½ years "race to the bottom" as it did since 2008

in more than three decades i never experienced such a long continous winning streak. needless to say that apart from some purchase of physical gold all the gains are just worthless fiat money.

Naam,

My portfolio has done well also. Very well. ALL of US have done well.

How long will it last? I have no idea. We....have no idea.

i have no idea how long it will last and i admit that my winning streak has slowed down considerably. but then we all know that trees don't grow sky high.

^ I'm talking about a stall, contraction, or significant decline in the markets.

^ I'm talking about a stall, contraction, or significant decline in the markets.

Its time to show our crystal balls.

japanese money supply has been steadily increased over the past years, and again strongly in Jan 2013 (by about 2%):

http://www.tradingeconomics.com/japan/money-supply-m2

all the other indicators are also in a very bad trend:

http://www.tradingeconomics.com/japan/external-debt

http://www.tradingeconomics.com/japan/imports

http://www.tradingeconomics.com/japan/balance-of-trade

one has to look at the discussed context!

facts:

-increase of money supply did not cause a JPY weakening for years.

-JPY weakened since and because Abe came to power.

period!

Naam, you are changing your story.

At first you wrote Japan didn't increase money supply and then you wrote that them doing it continuously didn't weaken the JPY over years.

What you wrote the second time was true until 2007.

Maybe you need to reopen an economy book, but a growing GNP makes necessary an increase of money supply, because the economy needs more liquidity.

Japan's GNP has been growing steadily until 2007, and then the shit hit the fan.

Look at both stats on a graph showing 1994 until now.

Before 2007, you see GNP growing steadily and Money Supply growing steadily.

From 2007, you see GNP falling and Money Supply accelerating even more than before 2007.

I think the FX rates we saw from 2007 to 2012 in JPY are to be explained by the healthy Japanese financial system, because during that time nobody wanted USD EUR or GBP, so I guess many operators just parked their cash in JPY.

The last surge in 2011 seems somehow linked with Fukushima, but I have no direct explanation. Maybe to cheapen reconstruction imports and hedging some of the export shortfall.

But now it seems reality is catching up with BOJ policies.

Edited February 27, 201313 yr by manarak

Does anybody know where one can open an account in CNY in SEA?

http://thediplomat.com/pacific-money/2013/02/27/chinas-yuan-can-it-challenge-the-dollar/

Does anybody know where one can open an account in CNY in SEA?

http://thediplomat.com/pacific-money/2013/02/27/chinas-yuan-can-it-challenge-the-dollar/

Hong Kong.

Does anybody know where one can open an account in CNY in SEA?

http://thediplomat.com/pacific-money/2013/02/27/chinas-yuan-can-it-challenge-the-dollar/

Hong Kong.

Well known but HK is not in South East Asia (SEA).

A couple of chinese banks have recently opened in Laos, have they done so as well in TH/other SEA countries, and if so is it possible for a foreigner to open an account in CNY?

UK manufacturing suffers shock contraction

The Markit/CIPS purchasing managers' index (PMI) for manufacturing fell to 47.9 last month, from a downwardly revised 50.5 in January.

http://www.bbc.co.uk/news/business-21629528

Unless there's a one off outlying factor, that's a big fall.

Does anybody know where one can open an account in CNY in SEA?

http://thediplomat.com/pacific-money/2013/02/27/chinas-yuan-can-it-challenge-the-dollar/

Hong Kong.

Well known but HK is not in South East Asia (SEA).

A couple of chinese banks have recently opened in Laos, have they done so as well in TH/other SEA countries, and if so is it possible for a foreigner to open an account in CNY?

just forget about it cash CNY outside of Hong Kong. and even with an account in HK you are handcuffed and shackled by restrictions.

what you can buy without any restrictions are bonds denominated in CNY which pay interest in USD at the prevailing rate of coupon date.

Does anybody know where one can open an account in CNY in SEA?

http://thediplomat.com/pacific-money/2013/02/27/chinas-yuan-can-it-challenge-the-dollar/

Hong Kong.

Well known but HK is not in South East Asia (SEA).

A couple of chinese banks have recently opened in Laos, have they done so as well in TH/other SEA countries, and if so is it possible for a foreigner to open an account in CNY?

Is true, but has 'honorary' :-) status as only 2.5 hour flight away and if that's too far then Singapore. I think the question here goes further than opening a CNY account nearby but rather where one feels comfortable opening and keeping a bank account to do such things in the region. Do you really want to open a bank account with substantial funds in Laos?

Does anybody know where one can open an account in CNY in SEA?

http://thediplomat.com/pacific-money/2013/02/27/chinas-yuan-can-it-challenge-the-dollar/

Hong Kong.

Well known but HK is not in South East Asia (SEA).

A couple of chinese banks have recently opened in Laos, have they done so as well in TH/other SEA countries, and if so is it possible for a foreigner to open an account in CNY?

Is true, but has 'honorary' :-) status a

The negative economic data keeps coming in ; Europe unemployment up. Med continuing to deteriorate. Italian deadlock. US deadlock and spending cuts on the way along with already stalled economy. Britain bumbling in to triple dip, major chain stores going bust left right and centre. Japan still contracting and printing like there's no tomorrow. Yet there seems to be an over sense of safety and optimism in markets as if the worst is behind and the recovery and growth is due to take off any day now. Stocks at or close to highs and gold/ MPs undepressure. I'm cetrain ther will be a correction in stocks and rebound of the bull in PMs. Any time from now ;-)

Just one of many stories:

http://bbc.co.uk/news/world-europe-21643853

Edited March 3, 201313 yr by mccw

The power house of south America slowing dramatically also:

http://bbc.co.uk/news/business-21630930

Looks like Asia is only decent growth story left. I wonder where all those reported increasing exports are going? Maybe just taking over from other regions production still as the drive yo cut costs and remain competitive continues for companies dealing with consumers with less purchasing power.

China is still building ghost towns.

http://www.cbsnews.com/video/watch/?id=50142079n

i'd be very happy should my portfolio show another 4½ years "race to the bottom" as it did since 2008

March 2009: Nouriel Roubini predicts new lows in the next 18 months

"During the last recession, the economy bottomed out in November 2001 and GDP growth was robust in 2002 but the U.S. stock markets kept on falling all the way through the first quarter of 2003. So not only were the stock markets not "forward looking," they actually lagged the economic recovery by 18 months--rather than lead it by six to nine months.

A similar scenario could occur this time around. The real economy sort of exits the recession some time in 2010, but deflationary forces keep a lid on the pricing power of corporations and their profit margins, and growth is so weak and anemic, that U.S. equities may--as in 2002--move sideways for most of 2010. A number of false bull starts would occur as economic recovery signals remain mixed.

Thus, most likely, we can brace ourselves for new lows on U.S. and global equities in the next 12 to 18 months."

—Nouriel Roubini on March 12, 2009

Dow: 7,170

Dow Today: 14,254

August 2012: Marc Faber warns of S&P 500 bear market after 2012 presidential elections

Bloomberg TV

"I think that we may still rally somewhat into August – mid-August, end of August – and then probably we'll have a tougher second half. In other words, September, October, and November could be somewhat tougher months...The high was this year on April 4 at 1422. I think it's possible, based on the few stocks that are strong and the rebound candidates, that we will exceed that high – maybe move to 1450 or even 1500...I think these lows could be exceeded and I think it may be October or November – or after the U.S. election – we could essentially have a decline of around 20 percent in the market."

—Marc Faber on August 6, 2012

Dow: 13,117

Dow Today: 14,254

What the hell....they all did it:

http://www.businessinsider.com/dow-jones-idiot-maker-rally-2013-3#march-2009-john-mauldin-say-bulls-will-get-their-hopes-crushed-over-the-summer-1

All the while Warren Buffett was aware of one of his cardinal rules:

"Over the long term, the stock market news will be good. In the 20th century, the United States endured two world wars and other traumatic and expensive military conflicts; the Depression; a dozen or so recessions and financial panics; oil shocks; a flu epidemic; and the resignation of a disgraced president. Yet the Dow rose from 66 to 11,497."

Roubini and Faber (and a bunch of others) will always be presented "learned gurus" no matter how wrong their predictions are. but nobody really knows why except "in <insert year> he predicted correctly <insert what was correct> and that's why..."

the same goes for Jim Rogers because freaking near fully twenty years ago he made 600 million dollars under the guidance of Soros when bringing Sterling down and out of the EMU.

i don't have a kitchen with an attached lab for testing. so i eat with a good appetite what is put on the table.

Leberknodelsuppe?

Talking of food on the table.....the Chinese were dumping money at Mit Mai, a Yunnanese restaurant in CM last Friday.

It was the first time I have ever seen Chinese tourists in there, and suddenly it was full of them, I mean full.

There is definitely a CM thing happening for the Chinks, and blue number plates are appearing.

I am told the Chinese are risk takers, so it conceivably,repeat conceivably, could have a big impact on the property market there. Is anywhere else more suitable to become for China what Spain was for Britain and Germany?

That wasn't the only thing the Chinese were dumping.....

Swedish furniture giant Ikea pulled a batch of almond cakes from its restaurants in 23 countries on Tuesday after Chinese authorities said they contained coliform bacteria, normally present in faecal matter.

http://www.rawstory.com/rs/2013/03/05/ikea-pulls-almond-cakes-after-finding-bacteria-associated-with-feces/

When the Attorney General of the United States admits some banks are simply too big to prosecute, it might be time to admit we have a problem -- and that goes for both the financial and justice systems.

http://www.huffingtonpost.com/2013/03/06/eric-holder-banks-too-big_n_2821741.html

I'm cetrain ther will be a correction in stocks and rebound of the bull in PMs. Any time from now ;-)

A broken record of certainty.

Roubini has made a career out of doomladen predictions which are quickly forgotten as he makes yet another one at the next stop on the conference circuit. Marc Faber is wedded to the inflation story.

Edited March 8, 201313 yr by yoshiwara

Wrong Turn: 'My portfolio has done well also. Very well. ALL of US have done well.'

Actually no. Many bailed out with the end of the world team screaming blue bloody murder and now they are sooo angry that what has happened hasn't followed the hysterical script. So either they live in the real world or get further sucked into the fantasy one.

Edited March 8, 201313 yr by yoshiwara

""""The United States is roughly $17 trillion in debt, but President Barack Obama says theres no reason to worry.

Speaking with ABC News correspondent George Stephanopoulos this week, Pres. Obama downplayed concerns of an impending financial catastrophe, claiming quite to the contrary that the country is on track to turning the economy around.

"We don't have an immediate crisis in terms of debt," Pres. Obama told Mr. Stephanopoulos during an interview that aired Wednesday on the television program Good Morning America.

"In fact, added the president, for the next 10 years, it's gonna be in a sustainable place."

Others arent so sure.

Pres. Obamas claim is indeed an optimistic one, but is it all that accurate? For starters, the Congressional Budget Office admits that, yes, the deficit may be slightly less in the coming months than what weve seen throughout the Obama administration so far, but in ten years time things arent likely to shape up all that wonderfully. The CBO projects a deficit of $845 billion a fantastic figure when compared with the deficits exceeding $1 trillion that have occurred since Pres. Obama took office but the size of that sum wont be shrinking for long. The CBO expects the deficit to take an upward turn again as soon as 2015, with a total of $7 trillion expected to be added to the national debt during the next decade.

Erskine Bowles and Alan Simpson, the two economists behind the National Commission on Fiscal Responsibility and Reform, or Bowles-Simpson Act, say that recent disagreements between parties in Washington suggest Democrats and Republicans will be unlikely to iron out a deal this year that will help diminish the debt. Although Pres. Obama seems optimistic about the economic future even when accounting for rampant bipartisan bickering others arent so sure.

"They haven't done any of the tough stuff, any of the important stuff," Bowles told ABC News Jonathan Karl last month. "They haven't reformed the tax codethey haven't done anything to slow the rate of health care, to the rate of growth of the economy, they haven't made Social Security sustainably solvent. There's about $2.4 trillion more of hard work we've gotta do."

Pres. Obama told Mr. Stephanopoulos that thats a good start, though, and said this weeks that its important to recognize is that we've already cut $2.5- $2.7 trillion out of the deficit.

"If the sequester stays in, you've got over $3.5 trillion of deficit reduction already, added the president.

The presidents statement is one that assumes the best that the sequester budget cuts will continue as scheduled and the economy will turn itself around in only a matter of a few years. Republicans and Democrats will get along during further financial debates and a national emergency wont empty out Americas bank account.

Adding to ABC, Alan Simpson isnt sure things will work out as the president plans.

"Ten thousand [Americans] a day are turning 65," he told the network. "This is madness. And life expectancy is 78.1, and in five years will be 80. Who is kidding who? This will eat a hole through America."

As more Americans reach an age where government-paid entitlements kick in, welfare programs will increasingly dry out whats left of the countrys checkbooks. Republicans by-and-large want to see yet more cuts to social welfare programs, but thats something that the president says his allies are unlikely to agree with.

Ultimately, it may be that the differences are just too wide, Mr. Obama told Stephanopoulos this week. It may be that, ideologically, if their position is, We cant do any revenue, or, We can only do revenue if we gut Medicare or gut Social Security or gut Medicaid, if thats the position, then were probably not going to be able to get a deal.

And what happens then? That wont create a crisis, the president told ABC. It just means that we will have missed an opportunity. I think that opportunity is there and Im going to make sure that they know that Im prepared to work with them. But, ultimately, it may be better if some Democratic and Republican Senators work together.

Should both sides of the aisle come together to reach an agreement regarding spending plans, Pres. Obamas prophecy of a sustainable economy in ten years time may very well come true. In order for that to happen, though, long-time opponents will have to put differences aside and agree on a package that Democrats and Republicans alike will favor. If history is any precedent, such an outcome is all too unlikely.

How likely is that? senior Obama adviser Dan Pfeiffer asks the New York Times. I cant say very likely there are strong structural forces in the Republican Party working against it. But if you try and fail you still have an opportunity to build bonds of trust that could be helpful on other issues.

Rep. Paul Ryan (R-Wisconsin), the one-time vice presidential candidate and current chairman of the House Budget Committee, says his Republican Party is working on a federal spending plan that could save the country $5 trillion during the next decade, but in doing so the president will have to forfeit his hallmark health care law, something all but certain to fail. For now, though, Rep. Ryan says he is open to negotiations.

I think there are things that we can do that dont offend either partys philosophy, Rep. Ryan told Fox News over the weekend.

Meanwhile, even White House press secretary Jay Carney isnt as optimistic as his boss. During a media briefing on Wednesday, Mr. Carney admitted that "everybody" recognizes there is a "long-term debt challenge." The president, however, just wont call it a crisis.""""

-RT

The United States is roughly $17 trillion in debt, but President Barack Obama says theres no reason to worry.

What Obama says & what Obama does is never the same

If there is no need to worry I wonder why he just bought 2,717

armored vehicles to patrol US streets?

Not to mention at a cost of $$$$$

But he did also purchase recently 1.6 BILLION Hollow point ammo for

the same Dept Of Homeland Security

Yeah no reason to worry

does make one wonder what the heck they are expecting?

I like in the video how they describe the awesome capabilities

then say you know in case we have to serve a warrant on a home !!

What ever became of the National Guard?

http://www.forbes.com/sites/ralphbenko/2013/03/11/1-6-billion-rounds-of-ammo-for-homeland-security-its-time-for-a-national-conversation/

http://www.youtube.com/watch?v=fyqch-KI5gI