Week 35.1 The Power of Forex
Last week can’t really recall exactly when, I decided to collect some cash from few of my customers first and then use the cash to do the bank wire. It’s the same thing. I ended up in the bank late at around 3-4 pm. Then the clerk today me, that I have to wait longer because she need to download the forex rate again into her computer because the rate has changed. I ended up paying RM55/- extra due to the forex changed. Has she have type a little bit faster I would have safe the RM55/-.
Then I checked, apparently if I did my TT in the morning, I could easily safe about RM200-RM300/-. There is no need for me to work so hard selling at all. Since USD is on the rise, it may be wise to do your bank wire ASAP. Vice-versa. However, other factors also have to be considered. For example, if there are pending undelivered orders, it may be wise to wait for the order to be shipped out first before paying for the second order.
ya is true, it is going to be more and more hard to do in foreign currencies moving forward, is going to be more violent more volatile and central banks starting to lose control to the market. Remember the market always have more cash than central bank. Hedge funds all combined have more cash than central bank FOREX reserves.
ReplyDeletethe government is losing control as for precious metal traders I see more and more irrelevant selling physical to spot price, because it can be 40 today 27 tomorrow, 35 the next day as hot money rushes in and out electronically.
physical should be delinked to paper market or attached with higher premium.
we are witnessing a currency war (thats y the FOREX went crazy) , later we will witness a trade war , later we may end up in depression / hyperinflation ... then we will end up in a war ... then a world war.
ReplyDeleteI need to reiterate here paper money is really useless, other than being instant liquid widely acceptable to pay off debt, roll over and restock your inventory for business continuation.
for normal perople it is the most useless worthless creation of mankind, it is a toxic and must not be hoarded at extraordinarily high level. sooner or later, the WESTERN politicians have to print or they will all be thrown out of offices or risk their countries turning into a revolution.
I must say once you embarked on fiat currencies backed by debt for 40 years, there is no longer a chance for austerity measures. The only way out is keep printing until the money dies. We already passed to point of return ...
when buying gold and silver, you MUST BUY PHYSICAL, and you need to look at it as a very long term investment, but buy slowly dont overcommit in a go (you will die very fast) ... the long term bull trend is intact, people are rushing to cash now because normal people have poor financial management and greedy, many are gambling in COMEX GLD and SLV with borrowed money and margin. Especially SLV.
ReplyDeleteIf you are not gambling on margin, I really dont think there is anything to worry ... days should go on as normal.
This is secular bull market. The precious metal market will recover. The only thing need to worry now is where to find physical at affordable price ... Last but not least, dont try to buy US DOLLAR (especially now) ... you can get hurt very fast.
In secular bull, is for best you look at investment pricing this way. Cheap and expensive. Better dont color the down arrow in red, just name it cheap. when it went up, just name it expensive not green.
ReplyDeleteThe red made you missed the cheap entry point because of fear, the green made you buy into peak because it is colored green.
You cannot blame anyone on this because traffic light brainwashed us everyday when we are driving, red == STOP, green ==GO. In investment the green sometimes == GO TO HOLLAND , the red sometimes == OPPORTUNITY.