Category Archives: banking

President Obama – Yuan Currency Manipulation, China RMB Rate

U.S. Senate Banking Committee Chairman Chris Dodd responds to reporters concerning his expectation of what President elect Obama will do concerning the China Yuan currency manipulation.

Buy China yuan while the American dollar is strong and wait for U.S. pressure legislatively to be applied during the Obama administration. Huge potential profits as the yuan gets released from captivity to rise to all-time highs.
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For those without much intestinal fortitude to ride the waves of change during this unprecedented global financial crisis, park your life savings in gold and watch the currencies of the world unravel after which you can reposition and relocate your fortunes in the appropriate currency of choice once stability returns to global financial markets. Gold has been a timeless and solid bet for savvy investors unwilling to risk their hard earned money. http://www.bullionvault.com/#paulfdavis

In June of 2007, despite pressure from the US Congress, the Bush administration refused acknowledge and cite China as a country that manipulates its currency to gain unfair trade advantages. Yet that finding was quickly challenged by a group of senators who said they would introduce legislation to make it easier for the United States to pursue economic sanctions against China for allowing its currency to rise in value more quickly against the dollar.

American manufacturers contend that China is undervaluing its currency by as much as 40 percent. Contributing to a recession and an unprecedented jobless rate in America, China yuan currency manipulation has produced a massive US-China trade gap exceeding an all-time high of $232.6 billion, one-third of America’s record deficit of $758.5 billion last year.

Expect a majority Democratic Congress and President elect Obama to take aggressive action against China for manipulating their currency and artificially keeping the yuan and RMB rate. The time for change has come and it will begin in the global economy as President Obama applies pressure with his economic team on countries like China who have manipulated their currency, held the yuan down, to profit handsomely at the expense of the U.S. economy.

The Obama administration will not mirror the passivity an complacency of the Bush administration, but rather take aggressive action to remedy the global market injustices and create a level playing field for all in the international markets. That being said, when the strategic economic dialogue is unveiled, as President Obama takes office on January 20. 2009, expect immediate pressure on China and Japan to stop the manipulation of their currencies.

China’s currency hit a new high against the American dollar on in June of 2007 when the United States’ congress began to increasingly demand China increase the value of the yuan more quickly. Once the People’s Bank of China complied and set the midpoint at 7.6282, the minute trading started the 7.63 barrier was instantly broken for the first time since China ended the peg to the US dollar in July 2005.

Although the China yuan is currently allowed to move 0.5 percent up or down the midpoint in a day, expect more pressure to be applied from the Obama administration and Washington upon China in the coming months. This will translate into record highs for those investing in China yuan, as its artificially low valuations break free and begin to rise to all-time highs.

Expect U.S. lawmakers, Chris Dodd, and the Obama administration to put unprecedented pressure on China to stop manipulating their currency and let the yuan rise to all-time highs. Once the controls on the yuan are lifted, the yuan a.k.a. RMB will hit record highs.

That being said, a very safe and wise long-term investment is the China yuan given the fact China holds over $1 trillion of U.S. debt and manufactures countless goods and products bought throughout America by salivating consumers lusting for Chinese items.

For more than half a century, US labor-intensive industry has mostly shifted overseas. Take the shoe industry for example. In 1976, in the US market 53 pairs of shoes per 100 pairs were domestically made. That figure dropped to 22 pairs in 1986; 11 pairs in 1996; and only only one and half pairs per 100 were domestically made in 2006.
Now, 98.5 percent of the shoes worn by Americans are imported. In 2005, the US imported 1.8 billion pairs of various kinds of shoes from China. The average American wore six pairs of shoes made in China.

American lawmakers are adamantly calling for punitive action against China if it fails to take faster action to let the yuan rise. Once President elect Obama enters the White House, expect immediate action against China to ensure compliance and a release of the yuan from captivity and Chinese governmental intervention.

http://ads.easy-forex.com/Gateway.aspx?gid=104994 – Buy China yuan while the American dollar is strong and wait for U.S. pressure legislatively to be applied during the Obama administration. Huge potential profits as the yuan gets released from captivity to rise to all-time highs.

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For those without much intestinal fortitude to ride the waves of change during this unprecedented global financial crisis, park your life savings in gold and watch the currencies of the world unravel after which you can reposition and relocate your fortunes in the appropriate currency of choice once stability returns to global financial markets. Gold has been a timeless and solid bet for savvy investors unwilling to risk their hard earned money. http://www.bullionvault.com/#paulfdavis

# # #

Paul F. Davis is a world-changer who has touched over 50 countries, more than 50 islands, and 6 continents empowering people throughout the earth to live their dreams!

Paul is the author of 14 books and premier life coach building dreams, breaking limitations, and transforming individuals and organizations. Paul is a change master that knows how to play with pain, while elegantly and humorously navigating through transition to ride the waves of change.

http://www.PaulFDavis.com
RevivingNations@yahoo.com
407-967-7553

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Filed under banking, china, consumer advocacy, currency, manipulation, obama, president, wealth and prosperity, yuan

China to Diversify Foreign Currency Reserves, Dump Dollars, and Invest its $1 Trillion Elsewhere

China will soon begin to diversify its foreign currency reserves and dump dollars by the billions. As China invests its $1 trillion from trade surpluses elsewhere, other central and foreign banks will dump dollars. We holding dollars will lose much. 

China’s spectacular trade surplus and mighty strength as the lender of last resort to many nations including America, which owes $10 trillion in debt, are raising eyebrows as many investors are dumping dollars and buying China’s Yuan, a highly undervalued currency.

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[b]China’s plan to diversify foreign currency reserves is an unprecedented move away from the U.S. dollar.[/b]

The Chinese government announced the formation of a new agency to oversee investment of China’s $1 trillion in foreign currency reserves, representing a potent new force in international finance.

Finance Minister Jin Renqing offered no specifics about how much of the currency reserves would be made available to the investment agency. But analysts say the agency is expected to control one of the world’s biggest investment funds, and one that could singlehandedly alter the value of national currencies on a global scale. As China seeks more attractive investment earnings with its vast financial holdings and moves away from the devaluing dollar, expect the U.S. economy to take a nosedive. When it does (and already beforehand for savvy investors with sufficient foresight), watch for a run on the U.S. banks and widespread dumping of the dollar in favor of the Euro, Yuan, gold, and other safe havens.

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The Chinese government says one model for the agency was Temasek Holdings, the Singapore government’s successful investment agency, which manages an $84 billion global portfolio of investments.

China already has the world’s largest foreign exchange holdings, which is growing rapidly because of the country’s huge trade surpluses. According to the International Herald Tribune most of the reserves China now accumulates are conservatively invested in U.S. Treasury bonds and other government securities, which earn little return for China yet help to keep interest rates in the United States and other countries low.

The investment agency allows China to quickly diversify its foreign exchange holdings away from the dollar. Given the fact China and many Asian tigers loaning billions of dollars to the U.S. are disenchanted with America’s imperialistic foreign policy in Iraq, when disgust reaches its peak the dumping of dollars and non-renewing of loans to the U.S. could bankrupt the American economy.

China is ready to aggressively invest its huge trade surpluses as it seeks higher returns away from the dismal dollar. The impact of China’s emergence as a major global investor will be huge and a devastating blow to the U.S. economy as they progressively shift away from dollars in favor of more appreciating assets and higher yielding investments.

Rumor has it that China will soon begin dumping dollars by the billions. Before that happens, the American people would be wise to put their investments and protect their life savings in gold and other currencies such as the Euro and Chinese Yuan (which is greatly undervalued).

The biggest priority in these turbulent and troubling economic times is security, which the dollar no longer provides.

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The Chinese government announced the formation of a new agency to oversee investment of China’s $1 trillion in foreign currency reserves, representing a potent new force in international finance. China’s spectacular trade surplus and mighty strength as the lender of last resort to many nations including America, which owes $10 trillion in debt, are raising eyebrows as many investors are dumping dollars and buying China’s Yuan, a highly undervalued currency.

http://www.bullionvault.com/#paulfdavis

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Finance Minister Jin Renqing offered no specifics about how much of the currency reserves would be made available to the investment agency. But analysts say the agency is expected to control one of the world’s biggest investment funds, and one that could singlehandedly alter the value of national currencies on a global scale. As China seeks more attractive investment earnings with its vast financial holdings and moves away from the devaluing dollar, expect the U.S. economy to take a nosedive. When it does (and already beforehand for savvy investors with sufficient foresight), watch for a run on the U.S. banks and widespread dumping of the dollar in favor of the Euro, Yuan, gold, and other safe havens.

http://www.bullionvault.com/#paulfdavis

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The Chinese government says one model for the agency was Temasek Holdings, the Singapore government’s successful investment agency, which manages an $84 billion global portfolio of investments.

China already has the world’s largest foreign exchange holdings, which is growing rapidly because of the country’s huge trade surpluses. According to the International Herald Tribune most of the reserves China now accumulates are conservatively invested in U.S. Treasury bonds and other government securities, which earn little return for China yet help to keep interest rates in the United States and other countries low.

The investment agency allows China to quickly diversify its foreign exchange holdings away from the dollar. Given the fact China and many Asian tigers loaning billions of dollars to the U.S. are disenchanted with America’s imperialistic foreign policy in Iraq, when disgust reaches its peak the dumping of dollars and non-renewing of loans to the U.S. could bankrupt the American economy.

China is ready to aggressively invest its huge trade surpluses as it seeks higher returns away from the dismal dollar. The impact of China’s emergence as a major global investor will be huge and a devastating blow to the U.S. economy as they progressively shift away from dollars in favor of more appreciating assets and higher yielding investments.

Rumor has it that China will soon begin dumping dollars by the billions. Before that happens, the American people would be wise to put their investments and protect their life savings in gold and other currencies such as the Euro and Chinese Yuan (which is greatly undervalued).

The biggest priority in these turbulent and troubling economic times is security, which the dollar no longer provides.

http://www.bullionvault.com/#paulfdavis

http://ads.easy-forex.com/Gateway.aspx?gid=104994

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Filed under america, American economy, american people, bailout, banking, bankruptcies, china, China yuan, death of the dollar, debasing the dollar, Diversify, dollar, dollars, Dump, dumping dollars, dying dollar, economic stabilization, euro, eurozone, finance and economics, financial, financial markets, financial meltdown, Foreign Currency Reserves, gold, greenback, U.S. economy, u.s. mint, us dollar, wall street, wall street woes, wealth and prosperity, worldwide financial meltdown

Record Foreclosures, Financial Opportunities, and Investment Strategies

[b]Record Foreclosures Across America![/b]

Beyond the immediate profits in investing in China’s Yuan (the world’s most undervalued currency for a nation who is America’s lender of last resort), the mighty Euro now used in 37% of all foreign currency exchange, and gold the monetary safe haven for centuries…

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Make money buying foreclosures

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The Mortgage Bankers Association is scratching its head wandering what to do with itself after the National Delinquency Survey released the ugly details of record breaking foreclosures sweeping across the United States. California and Florida are the leaders of the losers with the government of California itself currently seeking emergency bailout funds from the federal government as it approaches bankruptcy.

Widespread mismanagement of federal, state, and local government revenues is coming back to bite us!

Nevertheless as the delinquency rates continue to rise, there are some financially profitable investments out there. Let us not forget the old adage to “buy low and sell high”.

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Foreclosed properties are causing savvy investors to salivate across the nation. Even novices with no investment property experience are awaking to the wonderful deals and joys of leveraging other people’s money.

Many secrets to foreclosures can be easily learned, after which you too can be making tens of thousands of dollars. Working smarter rather than harder is what my dad taught me.

Foreclosure Profit Finder – a unique step by step system to profit buying foreclosures; find the ideal and most profitable homes; how to talk to sellers using our scripts; write up the contractual paperwork to tie up and secure the property; sell / assign or flip your deal to a hungry investor for cash; create a stream of income; and flip houses using our savvy investing system.

Discover how ordinary guys become wealthy from foreclosures without using their money or credit to make extraordinary profits!

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Paul F. Davis is a world-changer who has touched over 50 countries, more than 50 islands, and 6 continents empowering people throughout the earth to live their dreams!

Paul is the author of 14 books and premier life coach building dreams, breaking limitations, and transforming individuals and organizations. Paul is a change master that knows how to play with pain, while elegantly and humorously navigating through transition to ride the waves of change.

A savvy real estate investor, entrepreneur, and currency speculator Paul knows how to create opportunities and transcend turbulent economic times.

http://www.PaulFDavis.com

[b]Record Foreclosures Across America![/b]

Make money buying foreclosures – https://paydotcom.com/r/28053/paulfdavis/20767128/

The Mortgage Bankers Association is scratching its head wandering what to do with itself after the National Delinquency Survey released the ugly details of record breaking foreclosures sweeping across the United States. California and Florida are the leaders of the losers with the government of California itself currently seeking emergency bailout funds from the federal government as it approaches bankruptcy.

Widespread mismanagement of federal, state, and local government revenues is coming back to bite us!

Nevertheless as the delinquency rates continue to rise, there are some financially profitable investments out there. Let us not forget the old adage to “buy low and sell high”.

https://paydotcom.com/r/28053/paulfdavis/20767128/

Foreclosed properties are causing savvy investors to salivate across the nation. Even novices with no investment property experience are awaking to the wonderful deals and joys of leveraging other people’s money.

Many secrets to foreclosures can be easily learned, after which you too can be making tens of thousands of dollars. Working smarter rather than harder is what my dad taught me.

Foreclosure Profit Finder – a unique step by step system to profit buying foreclosures; find the ideal and most profitable homes; how to talk to sellers using our scripts; write up the contractual paperwork to tie up and secure the property; sell / assign or flip your deal to a hungry investor for cash; create a stream of income; and flip houses using our savvy investing system.

Discover how ordinary guys become wealthy from foreclosures without using their money or credit to make extraordinary profits!

Learn the foreclosure secrets only seasoned veteran real estate brokers know and refuse to share with even their friends.

https://paydotcom.com/r/28053/paulfdavis/20767128/

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Filed under america, American economy, american people, bailout, banking, China yuan, euro, financial, foreclosures, greenback, investment, money, opportunities, real estate, strategies, worldwide financial meltdown, yuan

FBI Mortgage Fraud Task Force – Implications for Real Estate Property Appraisers in Florida

The FBI provided insight into the breadth and depth of mortgage fraud crimes perpetrated against the United States and its citizens, Florida being first and foremost on the list. Current mortgage fraud projections, issues, and hot spots in the troubled U.S. economy have enormous implications to the banking industry and real estate property appraisers in particular.

[b]Mid-State Appraisals founder Paul Davis is a trusted and reputable property appraiser[/b] frequently called upon by Central Florida’s banks, homeowners, and real estate investors to assess property values. A builder for over 20 years and also a real estate broker, Paul Davis brings a wealth of knowledge to the table as an appraiser.

http://www.midstateappraisals.org

midstateappraisals@earthlink.net

A combined effort between banks and real estate property appraisers is needed to adequately identify, prevent, report, and thwart mortgage fraud activity. The FBI’s Financial Crimes Criminal Investigative Division (CID) and Financial Crimes Intelligence Unit are aggressively and cooperatively reporting the latest developments and pertinent data to empower the nationwide mortgage fraud task force.

As mortgage fraud crimes escalate, the burden on federal law enforcement increases. With the anticipated upsurge in mortgage fraud cases, the FBI employed additional strategies to proactively address the crime problem. The FBI works with the Department of Justice (DOJ)-Mortgage Fraud Working Group on a number of mortgage fraud related issues, including the creation and finalization of standard loss valuation criteria associated with mortgage fraud violations, and assisting the banking industry with the construction of a centralized repository of mortgage-related documentation.

The valuation criteria and mortgage related documentation is where real estate property appraisers and their appraisals provided lenders are going to increasingly be monitored and regulated in the near future.

Currently the FBI has mortgage fraud working groups or task forces in 32 field divisions across the country. The FBI divisions stationed in Florida are based out of Miami and Tampa. Moreoever the FBI continues to encourage the use of undercover operations as an effective technique to address mortgage fraud.

The recent stock market crashes across global markets have strongly affirmed, mortgage fraud if not dealt with has the potential to cripple the American economy and all foreign economies closely connected to it. Suspicious Activity Reports (SARs) from financial institutions indicate an increase in mortgage fraud. SARs increased 31-percent to 46,717 during Fiscal Year (FY) 2007. The total dollar loss attributed to mortgage fraud is unknown. However, 7 percent of SARs filed during FY 2007 indicated a specific dollar loss, which totaled more than $813 million.

Subprime mortgage issues remain a key factor in influencing mortgage fraud directly and indirectly. The subprime share of outstanding loans has more than a doubled since 2003 putting a greater share of loans at higher risk of failure. Additionally, during 2007 there were more than 2.2 million foreclosure filings reported on approximately 1.29 million properties nationally, up 75 percent from 2006. The declining housing market affects many in the mortgage industry who are paid by commission. The FBI says during declining markets, mortgage fraud perpetrators may take advantage of industry personnel attempting to generate loans to maintain current standards of living.

Many of the key industry personnel often involved are real estate property appraisers valuing the homes and properties prior to bankers signing off on loans.

Data from law enforcement and industry sources identify the states most affected by mortgage fraud during 2007 and indicated that the top 10 mortgage fraud states for 2007 were Florida, Georgia, Michigan, California, Illinois, Ohio, Texas, New York, Colorado, and Minnesota.

The downward trend in the housing market provides an ideal climate for mortgage fraud perpetrators to employ a myriad of schemes suitable to a down market. Several of these schemes have emerged with the potential to spread as the recent rise in foreclosures, depressed housing prices, and decreased demand place pressure on lenders, builders, and home sellers. Emerging and re-emerging schemes for 2007 included builder-bailouts, seller assistance, short sales, foreclosure rescue, and identity thefts exploiting home equity lines of credit.

Fraudulent practices have become dreadfully systemic within the mortgage industry, as unrestrained mortgage fraud has bankrupted some of the best and longtime solid financial institutions. If the FBI fails to quickly regulate, enforce, and imprison fraudulent professionals within the banking and real estate industry, expect to see the dollar tank along with the U.S. economy. After which consumers will only be able to buy gold, Euros, or China’s Yuan to protect their life savings and investments.

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Real estate property appraisers therefore may be the last line of defense to maintain accountability and accuracy before straw buyers succeed in excessively borrowing beyond the market value of a property’s worth and thereby jeopardize the security of loans throughout the banking industry.

Real estate property appraisers must like never before show due diligence when representing their fiduciaries the banks and report to legal authorities any manipulative and coercive attempts by lenders and borrowers to adjust property valuations they sign off on in their appraisal reports.

[b]Mid-State Appraisals founder Paul Davis is a trusted and reputable property appraiser frequently called upon by Central Florida’s banks, homeowners, and real estate investors to assess property values. A builder for over 20 years and also a real estate broker, Paul Davis brings a wealth of knowledge to the table as an appraiser.[/b]

http://www.midstateappraisals.org

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Filed under america, america & politics, American economy, american people, bailout, banking, bankruptcies, confronting corruption, conspiring to defraud, consumer advocacy, consumer fraud, deflation, dollar, dying dollar, economic stabilization, economy, euro, fbi, finance and economics, financial markets, financial meltdown, gold, wall street, wall street woes, wealth and prosperity, worldwide financial meltdown

Secure Investments Considering World’s Best Banking Systems as measured by World Economic Forum

The World Economic Forum has identified the world’s soundest banking systems across the globe. Vital information for any consumer and investor to know in these devastatingly uncertain and turbulent times.

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Canada has the world’s soundest banking system. Good news for me considering my wife is Canadian. Should this Yankee need to flee for a financial safe haven (and free health care), Canada will be a great option.

Closely behind followed Sweden, Luxembourg and Australia. As financial crisis and bank failures shake world markets, the survey by the World Economic Forum provided some enlightening and startling information about arrogant and seemingly (now questionably) economic super powers such as Britain and America.

Britain, which once ranked in the top five, has slipped to 44th place behind El Salvador and Peru, after a 50 billion pound ($86.5 billion) pledge this week by the government to bolster bank balance sheets.

The United States, where some of Wall Street’s biggest financial names have collapsed and been crippled in recent weeks, rated only 40, just behind Germany at 39, and smaller states such as Barbados, Estonia and even Namibia, in southern Africa.

The World Economic Forum’s Global Competitiveness Report is worth earnestly heeding and considering before investing in nations whose banking systems are problematic and given to systemic failures.

As for me, I’m extremely bearish on the dollar. Despite short-term gains based on momentary hype, patriotism, and the global credit crunch …look for the central and foreign banks across the globe to dump dollars and buy gold, Euros, Chinese yuan, and Japanese yen. The day of dollar dominance is over!

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My advice to investors, follow the lead of the Central and foreign banks. Beware of listening to the U.S. media’s propaganda machine. The world is disenchanted with America thanks to the war in Iraq and U.S. military imperialism to prop up the dollar as OPEC’s currency of choice. America’s longtime arrogance is coming to an end with the death of the dollar.

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When the dollar dies, look for the global economy to say good riddance.

The top 20 ranked banking systems are:

1. Canada

2. Sweden

3. Luxembourg

4. Australia

5. Denmark

6. Netherlands

7. Belgium

8. New Zealand

9. Ireland

10. Malta 11. Hong Kong

12. Finland

13. Singapore

14. Norway

15. South Africa

16. Switzerland

17. Namibia

18. Chile

19. France

20. Spain

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Filed under america & politics, American economy, american people, bailout, banking, bankruptcies, banks governors, confronting corruption, conspiring to defraud, consumer advocacy, consumer fraud, dollar, wealth and prosperity, worldwide financial meltdown

Protect Your Savings, Learn from Foreign Central Banks and the Super Rich

In uncertain economic times as these when U.S. banks, government institutions, and the FDIC itself is nearing bankruptcy… don’t be unwise and bet on big brother to take care of you. Let’s not forget the United States of America is the world’s largest debtor nation with $10 trillion and counting amassing billions in interest daily.

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Given America’s troubling foreign policy by which it irritates and alienates many of the nations holding its debt and Treasury bills, it won’t be long before the nations of the world and OPEC say no more and opt for other currencies over the dollar.

Be discerning and diligent to guard your hard earned assets and protect your life savings. Learn from the foreign central banks governing monetary policy of nations and the super rich, who diversify their currency reserves and are increasingly adding their holdings of gold, Euros, and Chinese yuan while dumping dollars.

http://www.bullionvault.com/#paulfdavis

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Filed under American economy, american people, banking, bankruptcies, banks governors, central banks, confronting corruption, currency, death of the dollar, debt arbitration, debt negotiation, dollar, economic stabilization, economy, financial markets, financial meltdown, foreign, greenback, money, protect your savings, rich, wealth and prosperity, worldwide financial meltdown