DELTA » October 18th, 2013, .HELLO FAMILY:
I WILL JOIN FRANKIE FRANKIE CC ON TUE AFTER BIBLE STUDY. I WILL GIVE YOU AN UPDATE , ALSO I WILL ANSWER ALL YOUR Q. LOVE YOU ALL…….DELTA
walkongstick : Guessing game starts on timing of Venezuela devaluation
By Andres Schipani in Bogotá and Robin Wigglesworth in London
Beauty pageants are to Venezuela what football is to Argentina or baseball to Cuba – a spectacle that allows people to forget their everyday woes. Yet at the Miss Venezuela competition last week, even the contestant from the capital Caracas had a gritty message for the audience, saying she wanted her country “to fight in the face of adversity”.
Not even under the lights could the brunette model dodge the reality that Venezuelans are battling an economic crisis that threatens the legacy of Hugo Chávez and his “Bolivarian revolution” and which is coming to the boil as the overvalued exchange rate drains foreign reserves.
Read More Link on Right
“The big warning sign for Venezuela is its plummeting foreign exchange reserves,” says Michael Riddell, a bond fund manager at M&G Investments in London.
The Opec nation’s $95bn of annual oil revenues mean default on its more than $45bn of foreign debt remains improbable. Nonetheless, analysts say the country could face financing issues, as only a small percentage of its foreign reserves are liquid.
Headline foreign reserves have fallen to $21bn from $30bn at the start of the year; furthermore, because of large gold holdings, only some $2bn of that is fully liquid.
Still, after including off-budget funds, such as a development fund that is partially Chinese financed and the foreign currency account of PDVSA, the state oil company, total available reserves are approximately $48bn, analysts estimate.
“Venezuela is not broke,” says Efraín Velázquez, president of the National Economic Council, a government watchdog. Instead, the country “has had inappropriate international reserves management”.
Frank26: Venezuela going down .......... Yesterday China Yuan up 20% to the dollar.
Call it a GCR or another word............. But it is HAPPENING.
KTFA, Frank.......... Amen.
walkongstick wrote on October 18th, 2013, .
Yuan gains popularity among global traders
Updated: 2013-10-18 17:16
GUANGZHOU -- The financial uncertainties conveyed in the US government shutdown have made the Chinese currency, renminbi, more popular among global traders, although the US Congress has passed a bill to end the debt ceiling deadlock.
Businessmen attending the ongoing China Import and Export Fair, or Canton Fair, in Guangzhou, capital of southern Guangdong Province, said they had encountered wider acceptance of the Chinese yuan among their overseas partners.
"Many overseas banks are now more willing to carry out renminbi business," said Zhang Qingfu, head of the Middle East and Africa overseas business division of Haier Group, China's largest home appliance manufacturer, adding that cross-border trades with China can now be settled in renminbi in many countries and regions.
Frank26: LOL...... That didn't take long ......... TADA!!!
DAME » October 18th, 2013, . Dear KTFA Members,
I have just completed a call with Frank and discussion regarding correspondence sent to him yesterday. He asked me to make this post to bring calm to concern that some may be having.
Please find Information regarding JPM/Chase that was issued by Forbes at 1:46 pm yesterday afternoon.
Frank had assured KTFA Members that the information circulating on JPM/Chase needed time to reveal itself and season. Some of you may have already read the information by now.
It strongly appears to us that Chase is only developing new ways to receive revenue in this damaged economy and not to control capital.
Please also keep in mind, this is a news agency that is providing information globally as being true and accurate.
No, JPM Isn't Banning International Wire Transfers, No Limits On Withdrawals Either
INVESTING | 10/17/2013 @ 1:46PM
Is JPMorgan Chase JPM -0.28% trying to control customers’ money by preventing wire transfers and limiting withdrawals?
That’s the fear after a couple of reports from Drudge and Zero Hedge noted a change in the bank’s withdrawal and wire transfer policies for small business checking accounts.
Chase says the fear is unfounded.
The reports are referring to a new $50,000 limit on monthly cash activity being imposed on small business checking accounts and a ban on outgoing international wire transfers on those accounts.
Small business customers received letters from the bank stating that the changes are effective November 17. “These changes will help us more effectively manage the risks involved with these types of transactions,” the letter states.
One report dubs Chase’s new rules “a war on cash and a war on small business and individuals” and says the new rules will lead to “a total cashless society that destroys all privacy and allows them to fine and fee the general population into serfdom.” Scary stuff.
The fear is that banks, and indirectly, the federal government have too much control over individuals’ money which sits in the form of deposits. Limiting withdrawals and keeping people from sending money overseas feels like capital control–a government attempt to prevent money from flowing out of the country. Think Iceland and Cyprus.
JPM says that’s not what’s happening here.
First, a quick visit to the bank’s business banking website shows that international transfers are still available–you just have to pay up for them.
The bank’s basic business account, Chase Total Business Checking, does not allow outgoing international wire transfers (it does allow them to come in) and cash activity is indeed limited to $50,000 per month. Cash activity means withdrawals and deposits. The account has a $10 monthly fee which is waived with a $1,500 minimum daily balance.
Need to withdraw or deposit more than $50k? You can but you’ll have to pay more in monthly fees to do so.
Upgrade to Chase’s Performance Business Checking and there’s no cash activity limit. Plus, you get two domestic wires transfers per month at no charge and international wires are available for an additional fee. Of course, there’s a $20 monthly fee that’s waived if you can maintain $50,000 balance.
Upgrade even higher to the Chase Platinum Business Checking and get four outgoing wires per month at no charge and reduced pricing on additional wires. Again, no cash activity limit here but the Premium account has a whopping $95 monthly fee that is waived if deposit balances are $100,000 or more.
But let’s get back to that basic business account. Chase says you can still exceed the $50,000 cash activity limit but do it four times in a rolling calendar year and you’ll get automatically upgraded to the next level account.
So, no, there is no cash activity limit in the Performance Business and Platinum level accounts but you’ll have to maintain higher balances to avoid the larger monthly fees.
It looks like theses changes are more about Chase looking to generate more revenue from fees than an attempt to control capital.
jdtolle » October 18th, 2013, . Choose to feel
When you don’t feel like smiling, that’s when a smile will absolutely do the most good.
When you don’t feel like laughter, that’s when a laugh can completely change your whole outlook.
You do not have to live at the mercy of your feelings. You can choose to be the master of those feelings and the master of your actions.
It doesn’t matter whether it is easy or hard, reasonable or unreasonable to choose the way you act and feel. You can do it anyway.
Don’t use your feelings as an easy excuse to do the wrong thing. Use them as a well-informed guide for doing what is good and right.
Pay attention to your feelings, learn from them, experience, enjoy and appreciate them. But don’t let them enslave you.
Go ahead, feel life intensely. And make the choice to be in control and to live with intelligent, positively focused purpose.
— Ralph Marston May All Have a Safe and Blessed Day