Off topic & off forex thread

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Old Jul 6, 2011, 2:46pm   #151
 
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Re: Off topic & off forex thread

Late reply I know .... but finally something I can actually advise on

Yes you can!

I would like to back-up 2Goldies's health advice which is spot on.

My own personal remedy when feeling really rough is:

1 x Max strength LemSip
1 x juice of organic lemon
1 x tea spoon decent honey (locally produced is better!)
12-15 x drops Bioforce echinacea
1 x shot 7 year old havana club

Thats right all in the same mug.

Rum can be replaced with Southern Comfort no problem!

Drink as hot as you can without burning your throat.

Tastes like sh£$ cos of all the lemon but works a treat.

Sorts the head out, the throat and the paracetamol and caffeine help the flu like symptoms.

Vitamin C is auto discharged by the body when it has enough so very difficult to overdose. I currently take 2g's everyday - even when not ill as preventative measure. Use the Magnesium Ascorbate version as its less acidic on the stomach!

And make sure you get enough Iron - as its crucial to the body to efficiently assimilate vitamin C.

Regards,
CS



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Originally Posted by mark120169 View Post
Can I take this daily with a few tots of neat Southern Comfort? This is my long time flu remedy!

M
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Old Nov 1, 2011, 12:26pm   #152
 
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Re: Off topic & off forex thread

Completely off topic (hence here) but to any of the PC Gamers amongst us who are into First Person Shooters I got Battlefield 3 last Friday and am playing it online when I can.

If anyone else has it (PC) version and wants to add me to their "EA Origin" and Battlelog friends my BF3 / Origin tag is..........................mark120169 , so you can send me a friends request and if playing at the same time maybe we can squad up on the same server.

As they say, boys don't grow up they just get more expensive toys!! Still fragging online since 2000!

M

p.s. Longest sniper head shot I got in stats is 247m with the SV98. !
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Old Jan 26, 2012, 8:27pm   #153
Joined Jun 2010
Re: Off topic & off forex thread

Just saw this interesting article in one of the email newsletters I get. Good overview of the current petrodollar system and its impact on currencies and commodities.



Tehran Pushes to Ditch the US Dollar

The official line from the United States and the European Union is that Tehran must be punished for continuing its efforts to develop a nuclear weapon. The punishment: sanctions on Iran's oil exports, which are meant to isolate Iran and depress the value of its currency to such a point that the country crumbles.

But that line doesn't make sense, and the sanctions will not achieve their goals. Iran is far from isolated and its friends - like India - will stand by the oil-producing nation until the US either backs down or acknowledges the real matter at hand. That matter is the American dollar and its role as the global reserve currency.

The short version of the story is that a 1970s deal cemented the US dollar as the only currency to buy and sell crude oil, and from that monopoly on the all-important oil trade the US dollar slowly but surely became the reserve currency for global trades in most commodities and goods. Massive demand for US dollars ensued, pushing the dollar's value up, up, and away. In addition, countries stored their excess US dollars savings in US Treasuries, giving the US government a vast pool of credit from which to draw.

We know where that situation led - to a US government suffocating in debt while its citizens face stubbornly high unemployment (due in part to the high value of the dollar); a failed real estate market; record personal-debt burdens; a bloated banking system; and a teetering economy. That is not the picture of a world superpower worthy of the privileges gained from having its currency back global trade. Other countries are starting to see that and are slowly but surely moving away from US dollars in their transactions, starting with oil.

If the US dollar loses its position as the global reserve currency, the consequences for America are dire. A major portion of the dollar's valuation stems from its lock on the oil industry - if that monopoly fades, so too will the value of the dollar. Such a major transition in global fiat currency relationships will bode well for some currencies and not so well for others, and the outcomes will be challenging to predict. But there is one outcome that we foresee with certainty: Gold will rise. Uncertainty around paper money always bodes well for gold, and these are uncertain days indeed.

The Petrodollar System

To explain this situation properly, we have to start in 1973. That's when President Nixon asked King Faisal of Saudi Arabia to accept only US dollars as payment for oil and to invest any excess profits in US Treasury bonds, notes, and bills. In exchange, Nixon pledged to protect Saudi Arabian oil fields from the Soviet Union and other interested nations, such as Iran and Iraq. It was the start of something great for the US, even if the outcome was as artificial as the US real-estate bubble and yet constitutes the foundation for the valuation of the US dollar.

By 1975 all of the members of OPEC agreed to sell their oil only in US dollars. Every oil-importing nation in the world started saving their surplus in US dollars so as to be able to buy oil; with such high demand for dollars the currency strengthened. On top of that, many oil-exporting nations like Saudi Arabia spent their US dollar surpluses on Treasury securities, providing a new, deep pool of lenders to support US government spending.

The "petrodollar" system was a brilliant political and economic move. It forced the world's oil money to flow through the US Federal Reserve, creating ever-growing international demand for both US dollars and US debt, while essentially letting the US pretty much own the world's oil for free, since oil's value is denominated in a currency that America controls and prints. The petrodollar system spread beyond oil: the majority of international trade is done in US dollars. That means that from Russia to China, Brazil to South Korea, every country aims to maximize the US-dollar surplus garnered from its export trade to buy oil.

The US has reaped many rewards. As oil usage increased in the 1980s, demand for the US dollar rose with it, lifting the US economy to new heights. But even without economic success at home the US dollar would have soared, because the petrodollar system created consistent international demand for US dollars, which in turn gained in value. A strong US dollar allowed Americans to buy imported goods at a massive discount - the petrodollar system essentially creating a subsidy for US consumers at the expense of the rest of the world. Here, finally, the US hit on a downside: The availability of cheap imports hit the US manufacturing industry hard, and the disappearance of manufacturing jobs remains one of the biggest challenges in resurrecting the US economy today.

There is another downside, a potential threat now lurking in the shadows. The value of the US dollar is determined in large part by the fact that oil is sold in US dollars. If that trade shifts to a different currency, countries around the world won't need all their US money. The resulting sell-off of US dollars would weaken the currency dramatically.

So here's an interesting thought experiment. Everybody says the US goes to war to protect its oil supplies, but doesn't it really go to war to ensure the continuation of the petrodollar system?

The Iraq war provides a good example. Until November 2000, no OPEC country had dared to violate the US dollar-pricing rule, and while the US dollar remained the strongest currency in the world there was also little reason to challenge the system. But in late 2000, France and a few other EU members convinced Saddam Hussein to defy the petrodollar process and sell Iraq's oil for food in euros, not dollars. In the time between then and the March 2003 American invasion of Iraq, several other nations hinted at their interest in non-US dollar oil trading, including Russia, Iran, Indonesia, and even Venezuela. In April 2002, Iranian OPEC representative Javad Yarjani was invited to Spain by the EU to deliver a detailed analysis of how OPEC might at some point sell its oil to the EU for euros, not dollars.

This movement, founded in Iraq, was starting to threaten the dominance of the US dollar as the global reserve currency and petro currency. In March 2003, the US invaded Iraq, ending the oil-for-food program and its euro payment program.

There are many other historic examples of the US stepping in to halt a movement away from the petrodollar system, often in covert ways. In February 2011 Dominique Strauss-Kahn, managing director of the International Monetary Fund (IMF), called for a new world currency to challenge the dominance of the US dollar. Three months later a maid at the Sofitel New York Hotel alleged that Strauss-Kahn sexually assaulted her. Strauss-Kahn was forced out of his role at the IMF within weeks; he has since been cleared of any wrongdoing.

War and insidious interventions of this sort may be costly, but the costs of not protecting the petrodollar system would be far higher. If euros, yen, renminbi, rubles, or for that matter straight gold, were generally accepted for oil, the US dollar would quickly become irrelevant, rendering the currency almost worthless. As the rest of the world realizes that there are other options besides the US dollar for global transactions, the US is facing a very significant - and very messy - transition in the global oil machine.

The Iranian Dilemma

Iran may be isolated from the United States and Western Europe, but Tehran still has some pretty staunch allies. Iran and Venezuela are advancing $4 billion worth of joint projects, including a bank. India has pledged to continue buying Iranian oil because Tehran has been a great business partner for New Delhi, which struggles to make its payments. Greece opposed the EU sanctions because Iran was one of very few suppliers that had been letting the bankrupt Greeks buy oil on credit. South Korea and Japan are pleading for exemptions from the coming embargoes because they rely on Iranian oil. Economic ties between Russia and Iran are getting stronger every year.

Then there's China. Iran's energy resources are a matter of national security for China, as Iran already supplies no less than 15% of China's oil and natural gas. That makes Iran more important to China than Saudi Arabia is to the United States. Don't expect China to heed the US and EU sanctions much - China will find a way around the sanctions in order to protect two-way trade between the nations, which currently stands at $30 billion and is expected to hit $50 billion in 2015. In fact, China will probably gain from the US and EU sanctions on Iran, as it will be able to buy oil and gas from Iran at depressed prices.

So Iran will continue to have friends, and those friends will continue to buy its oil. More importantly, you can bet they won't be paying for that oil with US dollars. Rumors are swirling that India and Iran are at the negotiating table right now, hammering out a deal to trade oil for gold, supported by a few rupees and some yen. Iran is already dumping the dollar in its trade with Russia in favor of rials and rubles. India is already using the yuan with China; China and Russia have been trading in rubles and yuan for more than a year; Japan and China are moving towards transactions in yen and yuan.

And all those energy trades between Iran and China? That will be settled in gold, yuan, and rial. With the Europeans out of the mix, in short order none of Iran's 2.4 million barrels of oil a day will be traded in petrodollars.

With all this knowledge in hand, it starts to seem pretty reasonable that the real reason tensions are mounting in the Persian Gulf is because the United States is desperate to torpedo this movement away from petrodollars. The shift is being spearheaded by Iran and backed by India, China, and Russia. That is undoubtedly enough to make Washington anxious enough to seek out an excuse to topple the regime in Iran.

Speaking of that search for an excuse, this is interesting. A team of International Atomic Energy Agency (IAEA) inspectors just visited Iran. The IAEA is supervising all things nuclear in Iran, and it was an IAEA report in November warning that the country was progressing in its ability to make weapons that sparked this latest round of international condemnation against the supposedly near-nuclear state. But after their latest visit, the IAEA's inspectors reported no signs of bomb making. Oh, and if keeping the world safe from rogue states with nuclear capabilities were the sole motive, why have North Korea and Pakistan been given a pass?

There is another consideration to keep in mind, one that is very important when it comes to making some investment decisions based on this situation: Russia, India, and China - three members of the rising economic powerhouse group known as the BRICs (which also includes Brazil) - are allied with Iran and are major gold producers. If petrodollars go out of vogue and trading in other currencies gets too complicated, they will tap their gold storehouses to keep the crude flowing. Gold always has and always will be the fallback currency and, as mentioned before, when currency relationships start to change and valuations become hard to predict, trading in gold is a tried and true failsafe.

2012 might end up being most famous as the year in which the world defected from the US dollar as the global currency of choice. Imagine the rest of the world doing the math and, little by little, beginning to do business in their own currencies and investing ever less of their surpluses in US Treasuries. It constitutes nothing less than a slow but sure decimation of the dollar.

That may not be a bad thing for the United States. The country's gargantuan debts can never be repaid as long as the dollar maintains anything close to its current valuation. Given the state of the country, all that's really left supporting the value in the dollar is its global reserve currency status. If that goes and the dollar slides, maybe the US will be able to repay its debts and start fresh. That new start would come without the privileges and ingrained subsidies to which Americans are so accustomed, but it's amazing that the petrodollar system has lasted this long. It was only a matter of time before something would break it down.

Finally, the big question: How can one profit from this evolving situation? Playing with currencies is always very risky and, with the global game set to shift to significantly, it would require a lot of analysis and a fair bit of luck. The much more reliable way to play the game is through gold. Gold is the only currency backed by a physical commodity; and it is always where investors hide from a currency storm.

The basic conclusion is that a slow demise of the petrodollar system is bullish for gold and very bearish for the US dollar.
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Old Jan 26, 2012, 9:59pm   #154
 
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Re: Off topic & off forex thread

Quote:
Originally Posted by goldfinger777 View Post
Just saw this interesting article in one of the email newsletters I get. Good overview of the current petrodollar system and its impact on currencies and commodities.



Tehran Pushes to Ditch the US Dollar

The official line .....
Good summation, and Ive thought this was the reason why Saddam Hussain ended up on the end of a rope - invade your neighbour is one thing, but try to sell oil in Euro? What else could son of Bush do but declare war.?

This Iranian oil bourse story has run for a while though, so it may be moving on a bit now if other countries are beginning to be sick of being effectively taxed by the US, forced to hold ever worthless dollars just to buy oil.

Could you imagine if the US was a company, forever diluting it's share value by printing more dollars? It's share holders would rightly be storming the plush company offices and making off with the B.O.Ds heads on sticks. SO a rude awakening seems due for the Americans, as if they don't have enough problems.

But having said that, the worry is not that the dollar is backed by the printing press, the worry is that the dollar is backed by Nuclear Weapons, and a possible Romney or Gingrich presidency won't do anything to move the minute hand any further away from midnight...
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Old Jan 26, 2012, 10:04pm   #155
Joined Jun 2010
Re: Off topic & off forex thread

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Originally Posted by peterf1966 View Post
Good summation, and Ive thought this was the reason why Saddam Hussain ended up on the end of a rope - invade your neighbour is one thing, but try to sell oil in Euro? What else could son of Bush do but declare war.?

This Iranian oil bourse story has run for a while though, so it may be moving on a bit now if other countries are beginning to be sick of being effectively taxed by the US, forced to hold ever worthless dollars just to buy oil.

Could you imagine if the US was a company, forever diluting it's share value by printing more dollars? It's share holders would rightly be storming the plush company offices and making off with the B.O.Ds heads on sticks. SO a rude awakening seems due for the Americans, as if they don't have enough problems.

But having said that, the worry is not that the dollar is backed by the printing press, the worry is that the dollar is backed by Nuclear Weapons, and a possible Romney or Gingrich presidency won't do anything to move the minute hand any further away from midnight...
Yes unfortunately there are very few places to hide once nuclear war kicks off... having said that, didn't Gingrich say something recently about colonising the moon by 2020...
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Old Jan 27, 2012, 12:01am   #156
 
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Re: Off topic & off forex thread

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Originally Posted by goldfinger777 View Post
Yes unfortunately there are very few places to hide once nuclear war kicks off... having said that, didn't Gingrich say something recently about colonising the moon by 2020...
yeah - what a dreamer, they have no launch vehicle capabable of getting to the moon - unless they refurbish the Saturn 5 lying in bits at KSP? Perhaps Newt wants to build a bunker there?
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Old Jan 27, 2012, 9:33pm   #157
Joined Jun 2010
Re: Off topic & off forex thread

Interesting story here about Plimus (who provide credit card merchant services for many Forex EA vendors). They've now stopped providing services for most (if not all) Forex EA sellers.

An Update Regarding Plimus • Forex Reviews and Articles • MellyForex

Can't say I'm surprised, but it probably will lead to far fewer "Money back guarantees" being offered by vendors. Or there will simply be so many terms attached that the guarantees will be worthless.

Of course there will always be alternatives to Plimus but the credit card companies are gradually pushing back more on more on certain types of "retailers" so will be interesting to see how much longer the EA sellers continue accepting credit card payment. Many will probably go PayPal only.
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Old Jan 27, 2012, 11:10pm   #158
Joined Dec 2008
Re: Off topic & off forex thread

The chargeback rate is massive compared to the 'norm' on this type of transaction.

If the vendor fails to provide the purchaser with a refund if the product is 'faulty' (this can cover a whole host of reasons), then the issuer (i.e. the bank which issued the card used in the transaction) is legally obliged to give the money back to the card holder. The bank then goes back to the scheme provider (i.e. Visa, MasterCard etc.) and claims the money back from them. (The purchaser would never go directly to the scheme provider as mentioned in the article because there is not direct relationship between the two).

Either the banks, scheme providers or both have decided that they don't want the overhead of dealing with the above average number of chargeback requests for this type of transaction.

If the providers start using PayPal more and customers still request a high number of chargebacks, PayPal will soon realise that they too are processing more and more chargebacks and pull the plug as well as it will generally cost PayPal more to process the transaction than it would a bank because PayPal are 3rd party card issuer.

Perhaps the cheque will make a comeback?
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Old Feb 16, 2012, 10:58pm   #159
 
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Re: Off topic & off forex thread

As this is the Off Topic & Off Forex thread I thought that I would post this here as it is something that I have been introduced too and something that I have put some of my investment capital into!

Is it MLM, HYIP, pyramid, Ponzi? I don't know but I suspect not, you should make up your own mind.

Most will be sceptical I know, I was at first - and good luck to them if they miss out - but you have to speculate to accumulate and I have done just that. I have taken the initial risk and now I am reaping the rewards. My initial investment is growing daily as I get paid 2% and will grow further as I compound these profits.

There is a lot more to this program than meets the eye with the basic 2% per day, there are several other forms of money-making methods - some long term, some short. I have not studied these yet, but will do so in the near future I assure you.
I have made withdrawals without any problems. In fact one of the strategies they recommend is for you to get to the breakeven point where you have withdrawn your initial investment and then really go for it with the compounding.

If it is something that people here would be keen to explore further I can setup a new thread for this topic.

There is only one flaw I have spotted so far - their websites could do with the assistance of a graphic designer!! But it works even though it takes bit of getting used too but not too long!

They also have daily webinars and conference calls for people to find out more about the programme and how things work, there are also recorded ones on their site.

There are a lot of get rich quick scheme’s out there but so far this seems not to be one of them as it has been going since 2010.

After a short period of education and fact-finding I have placed $1000 into this. Am I worried? No. Am I making money? Yes and no - because not until I reach breakeven with the funds transferred back into my personal account will I make money. I am approaching this point daily as I withdraw a percentage of profits and re-invest (compound) the rest and based on how things are going so far I am looking at topping my initial investment up!

The link to their website is here JustBeenPaid - "You've Just Been Paid!".

You will need Personal Pro account at AlertPay if you want to fund your account. It’s pretty similar to PayPal, I funded my account direct from my bank account without any issues!

Any questions just let me know!
-Steve
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Old Feb 18, 2012, 6:46pm   #160
Joined Jun 2010
Re: Off topic & off forex thread

Just got a link to a free downloadable Forex ebook in Richard Hill's Forex Roundup email.

No idea whether it's any good, haven't looked at it yet.

Here's the link anyway:

The Ultimate Bootcamp To Forex Trading - FREE Guide
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Old Feb 20, 2012, 2:56pm   #161
Joined Jun 2010
Re: Off topic & off forex thread

Quote:
Originally Posted by fwloop View Post
As this is the Off Topic & Off Forex thread I thought that I would post this here as it is something that I have been introduced too and something that I have put some of my investment capital into!

Is it MLM, HYIP, pyramid, Ponzi? I don't know but I suspect not, you should make up your own mind.

Most will be sceptical I know, I was at first - and good luck to them if they miss out - but you have to speculate to accumulate and I have done just that. I have taken the initial risk and now I am reaping the rewards. My initial investment is growing daily as I get paid 2% and will grow further as I compound these profits.

There is a lot more to this program than meets the eye with the basic 2% per day, there are several other forms of money-making methods - some long term, some short. I have not studied these yet, but will do so in the near future I assure you.
I have made withdrawals without any problems. In fact one of the strategies they recommend is for you to get to the breakeven point where you have withdrawn your initial investment and then really go for it with the compounding.

If it is something that people here would be keen to explore further I can setup a new thread for this topic.

There is only one flaw I have spotted so far - their websites could do with the assistance of a graphic designer!! But it works even though it takes bit of getting used too but not too long!

They also have daily webinars and conference calls for people to find out more about the programme and how things work, there are also recorded ones on their site.

There are a lot of get rich quick scheme’s out there but so far this seems not to be one of them as it has been going since 2010.

After a short period of education and fact-finding I have placed $1000 into this. Am I worried? No. Am I making money? Yes and no - because not until I reach breakeven with the funds transferred back into my personal account will I make money. I am approaching this point daily as I withdraw a percentage of profits and re-invest (compound) the rest and based on how things are going so far I am looking at topping my initial investment up!

The link to their website is here JustBeenPaid - "You've Just Been Paid!".

You will need Personal Pro account at AlertPay if you want to fund your account. It’s pretty similar to PayPal, I funded my account direct from my bank account without any issues!

Any questions just let me know!
-Steve

You should get a prize for even admitting that you've put money into something like this.... well done for posting...
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