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golfitobob
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Not much to tell. Born in NY, NY in 1955 and at age 7 my Jewish dad thought I should go with him to the brokerage house. Not tee ball or pop warner football. Such is life. All I know is the market for 49 years and am now retired at 53 ( now 56) and 3 years living in Panama an 5 before in Costa... More
  • China flexes new military muscles an send US & the world a message ! Wen, talks tuff an their OPEC bartel deals are putting the US dollar reserve stsus ever closer to an end. tic tic tic tic  6 comments
    Nov 18, 2011 2:42 AM
    http://www.reuters.com/article/2011/11/18/us-asean-china-idUSTRE7AH0DQ20111118


    Remember, BRICS don't use dollars amongst themselves. US Congress is meeting now an concerned as estimates of Yuan going global within 5 years. As, usual there slow an they make be to far off. As China trades goods for oil an gets around the need for US dollars they are able to dump more. Opec is also doing this on all dollar rallies an buying gold ! Keep you eyes open as blind patriotism an a dash of stupidity is keeping the USA in the dark !  Warning !    gb
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  • jrbillig
    , contributor
    Comments (6) | Send Message
     
    so buy physical gold?
    19 Nov 2011, 07:23 AM Reply Like
  • golfitobob
    , contributor
    Comments (2346) | Send Message
     
    Author’s reply » jr, gold is good,but, many commodity based currencies are good too.
    The Yuan or Real, Norway Kronor or even Australia or Canadian dollars.

     

    I like many have a Yuan account ! Also I live by the border in Costa Rica an Panama as have a Colone account in Costa Rica.

     

    There are many ways to get out of dollars. As Warren Buffet also said get out. US multinational stocks work well,but, I like 10 year bonds in Foreign countries an just bought 10 year Brazilian bonds yielding 12.3 % an they deposit the interest into our Brazil bank account which is paying 6.13 % interest ,so, it is compounding an in Real ! The Real will grow as the Fed continues to print ! gb
    19 Nov 2011, 08:05 AM Reply Like
  • jrbillig
    , contributor
    Comments (6) | Send Message
     
    gb, thanks, do I have to open accounts in foreign countries? For example if I open a cayman account, can I accomplish some of the things you have mentioned? or do I have to open one in Brazil? thank you for the advice. I believe that US is not in good shape, and want to deversify into some of the things you have mentioned.
    19 Nov 2011, 04:49 PM Reply Like
  • golfitobob
    , contributor
    Comments (2346) | Send Message
     
    Author’s reply » jr, you can go to most US large cities an open A Yuan account. BOC has many branches in the US an accounts are insured as any other bank. You might find Brazilian banks in the US too. There are Canadian banks in US cities too,but if you do travel it would be a good idea. As far as Cayman there too small a country for my taste an the US an IRS are pressuring them hard. We saw when a UBS worker leaked info and thousands of Americans were in trouble. I say do it legally as it is a 1 page document once a year an it goes to Detroit an not the IRS if you travel ........ bob
    19 Nov 2011, 05:31 PM Reply Like
  • jrbillig
    , contributor
    Comments (6) | Send Message
     
    thanks, bob. appreciate it.
    19 Nov 2011, 06:47 PM Reply Like
  • golfitobob
    , contributor
    Comments (2346) | Send Message
     
    Author’s reply » http://bit.ly/vQSjiX

     

    jr, here is a chart of Colone exchange rates. I opened a CD at my wifes credit union an the rate is 16% The colone/dollar was 597 ! Now look as dollar has tanked ! I am getting over 30% with the 16 and 17% dollar drop. Costa Rica has pegged it to 500 minimum or the dollar would drop more !

     

    The same thing with my Brazil 10 year bond an 6% bank account as REAL has gained value. Even my YUAN account in NY has gained 7% this year ! chao ,bob
    19 Nov 2011, 06:53 PM Reply Like
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  • ALL at SA, much love an luck to all. Starting B&B construction an dream starts full time.. Be care full an bewhere! Things have changed GB!
    Nov 22, 2011
  • Kudoos to George Maniere for LYB call. He was right an it did adjust ,so, div was gone before a move could be maid ! Didn't listen !
    Nov 22, 2011
  • S&P makes another mistake ! Corrects fast ! http://reut.rs/rRiCy4 Note: Brazil 10 yr safer & ovwe 12% & bank pays 6% DEAL & Real strong
    Nov 22, 2011
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