- advertisements -
Free lunch bitchez!
Anyway you look at it, the dollar is teetering on the edge and will soon be toast, and the fall will be rapid.
zai jian, my friends.
Wouldn't you have to make a relatively exact "call" when you write that option in terms of when the hong kong dollar is revalued? Moreover, what happens when all those Chinese need to start spending?
I'm keeping my cash savings in Singapore Dollars, made a lot of US dollar profits on that, but this maybe a good idea to diversify...
“GEITHNER SAYS ‘DARK FORCES’ WORKING AGAINST FINANCIAL REFORM”
Indeed Timmy... Indeed..
Denizens of the US/Eu seems like a bunch of turkeys a month before Thanksgiving.
-How's it going?
-Great! Look, more food, let's eat.
Dark forces indeed.....
Racism to blame for Obama's problems
Come Timmy, give yourself to the dark side (we've got cookies!) :>D
So how does one open an account, and keep it in Renminbi (or HK)? Is the Renminbi tradeable?
Thank you very much for that.
The contrarian take might be that hong kong is simply Detroit, before the AWU showed up.
I'd rather own the RMB. http://www.bocusa.com/portal/newsContent?newsId=64&lang=1
don't get too excited, read the fine print on exactly when you can access the money and where you can spend it.
Such comments could get you a bust in the mouth...:>D
Interesting article.... However,,, as an investment (even a place to park cash),,, take a look at the ETF. It's settling down a bit,,,,, not my cup of tea yet.
Ill take Can $
or Swiss F
as an investment (even a place to park cash)
as an investment (even a place to park cash)
if I were to park cash in any other vehicle than silver/gold, I would park it here:
Bitcoins are an interesting experiment, but there are risks.
1. If you park more than 10k and attempt to make a trade, you will likely move the market by 10% (see bid/ask chart on https://mtgox.com/trade/history)
2. Getting your money out isn't trivial. It's a multi-step process if you want cash.
3. Fees will be over 5% of the transaction.
That said, the currency has risen from USD$0.06/bitcoin to USD$9.00/bitcoin in 9 months, or an increase of 14,900%.
the greatest risk is bankers ordering gov't to make bitcoins "illegal" in the long term. However, should fiat go hyper soon, bitcoins will be a way to trade online with deflationary (appreciating) currency - a mirror image of inflationary (depreciating) fiat.
Competiting currencies of all types. Yay!
OT sort of... Here is a fascinating article about gold farming in China; that is trading virtual gold for actual currency.
some interesting parallels... monetary system debt slavery corruption
How can I open and account!?!
Last time we were in Beijing I glided into a Bank of China branch in Wanfujing and opened a Yuan account, using my passport and a small stack of red Maos. Nothing else necessary. My mother-in-law keeps the (1970's era) passbook. I plan to make good use of it.
Americans are locked down into the USD whereas mainland Chinese (not just HK) have had multiple currency options for decades.
Oh yes; and my wife's family had a solar water heater in the 1980s.
The vast majority of Americans will never know how played they are. That's because they don't travel, don't do independent research and are conditioned to depend on a host of Authorities to tell them what to do. And waiting to be told what to do next is the passive end of fascism.
i thought you were a Saxon? what happened to your Swiss Francs Saxon dog? Renminbi for mom? HAHAHAHAHAHA. Obviously this article is ridiculous. They DO indeed trade currencies in Hong Kong! Do they "trade gold however"? What was that? "Not with that worthless HKDollar" you say? In which case "we'll start our own variant of the CME then!" I say "excellent choice!" I'm glad "ours comes with rail lines attached." I wonder who came up with that idea? Something tells me "the Canadians were one reason."
Good work Sovereign Man!
I have an app ready to open a HK$ savings account in a HK-based international bank without visiting there. The only hesitancy I have had is the $200 processing fee. The minimum amount without ongoing fees is like US$1,300. The $200 is chump change in the grand scheme of things but $200 nonetheless. This article is leaning me to pulling the trigger.
Anyone else researching countries to open bank accounts in without needing to travel?
Isn't Everbank still a US bank with the potential to hold different currencies? I could be wrong.
You have inspired me to do my first fx
These markets that dont.float are the perfect place for a speculation because they are easier to frontrun, and political decisions are less complicated to assess than complex market phenomena.
How dare they!
....so when do we invade HK?
Questions: in establishing an offshore account you have to declare it here, but keep income offshore.
If you leave the gains there you declare it,but only pay the taxes on ltcg or int on that tax rate?
In hong kong the currency rate dividends or interest tax rate is -0-:?
and No cap gains tax?
so a revalu of HK/$ / to Yuan would be tax free?
Singapore corp tax rate is 12%;
Capital gains tax also -0-
By comparison I think C$ pro business conservative govt corp tax rate is 15% but the loonie is at 105 already.
Hong Kong could be a good play on a reval to
Yuan,...6.00 range eventually vs US,
5:50 Yuan/$ in 5 years...
the play wont be stocks /emerging markets, it will be currency deval/ revaluations as EU collapses and Yuan/Deutschemark/Swiss/ Gold Standard... emerges.
I like standing outside Chow Sang Sang and Chow Tai Fook stores on Nathan Road and drooling on my shoes.
If you're stopping over at Hong Kong Airport, locate the Chow Sang Sang store in the departure area, and buy a 50 or 100g gold slab. Better prices than the Chow Tai Fook store there, and nicer product IMHO.
So how can the HKMA maintain its passion and honesty to work for the good of the people while the FED rots thoroughly and reeks? Is it the culture?
10 cent spread on USD????!!!! 80c spread on AUD???!!! Maybe you should walk to the back of ChungKing Mansions for your FX.
Apart from your inability to find a good CCY dealer, good article.
Tips: tips [ at ] zerohedge.com
General: info [ at ] zerohedge.com
Legal: legal [ at ] zerohedge.com
Advertising: ads [ at ] zerohedge.com
Abuse/Complaints: abuse [ at ] zerohedge.com
Advertise With Us
Make sure to read our "How To [Read/Tip Off] Zero Hedge Without Attracting The Interest Of [Human Resources/The Treasury/Black Helicopters]" Guide
How to report offensive comments
Notice on Racial Discrimination.