Tuesday, 22 July 2014

Enhance The Value of The Local Currency Transactions

Treasures Media - Follow-up: Said financial expert Ali Fukaiki importance of adopting measures trade in local currencies across the border for its role in facilitating the smooth flow of traffic of goods and goods across international countries that adopt this process.

He added that cross-border trade in local currencies in vogue among the countries of the world, pointing to the importance of activating the measures adopted in the present time in the trade of the country during the current situation you need to supply the domestic market of goods cover the growing domestic demand.

He pointed to the presence of several international agreements to be adopted commercially in the world like her and what was approved by the agreement between the governments of Turkey and Iran from trade in local currency for the two countries, as well as between Malaysia and its neighbors using local.

He said in China rely many foreign projects, particularly the Japanese use the Chinese currency, the local of the (yuan) and a way to settle the payment obligations urgent and those adjustments less susceptible to the vagaries of the process in foreign currency exchange rates and to avoid the margins of the difference required by the conversion process through the dollar.

The Fukaiki has between in an earlier statement that what happened to trade actively across the border in (spend Klar) and (Haj Omran) in the Kurdish north and is happening now in the Mehran and Shalamcheh south vivid example of this trade, which resulted in the accumulation of reserves, cash Iraqi significantly with the bankers and traders Iranians, Syrians and Turks and others promoted the acceptance of these Iraqi dinar confidence in him over the past five years, which did not happen to him such confidence before that over the past half a century earlier.


Wednesday, 25 September 2013

New $100 Bills Worth Up to $15,000

When the Federal Reserve Board releases its new, redesigned $100 bills on October 8, how much do you suppose they'll each be worth? For some of them, much more than $100.

Depending on their serial numbers, their value to currency-collectors could go as high as $15,000 each, according to the Boston Globe.

The Globe explains that collectors view certain 8-digit serial numbers as "fancier" (meaning more rare, and thus more collectible) than others. The fanciest numbers, according to collectors, include ones exceptionally low: A new $100 bill with the serial number 00000001, for example, might fetch up to $15,000.

There will be more than one such bill, because each issuing Federal Reserve Bank prefaces the serial number with a letter code designating which bank produced the bill.

Other types of "fancy" numbers are highly sought after. These include "ladders," which have their numbers in sequence (e.g., 87654321), "repeaters," which have two sets of the same four digits (e.g., 41124112), and "solids," which have eight of the same digit (e.g., 44444444).

Dustin Johnston, director of currency for Heritage Auctions in Dallas, tells the Globe that other kinds of bills, regardless of their denomination or age, may also be collectible, depending on the fanciness of their serial numbers.

Got a fancy-numbered bill? To find out what it's worth, you can contact Heritage Auctions or another auction house specializing in currency; or you can consult CoolSerialNumbers.com, which maintains a regularly-updated want list of numbers being sought by collectors.

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Wednesday, 18 September 2013

Will US Federal Reserve Ease Back on Stimulus

Eyes across the globe will be trained on Washington on Wednesday as the Federal Reserve concludes its two-day meeting.

US Federal Reserve chairman Ben Bernanke is expected to announce an end to the central bank's extraordinary stimulus efforts.

Fed watchers believe that the bank will begin to slow down its purchase of $85bn of bonds monthly.

This would indicate that Fed officials think the US economy is back on track.

Markets have been primed to expect a slowdown in the bank's efforts at quantitative easing, in a move known as a "taper", ever since Mr Bernanke hinted at a pullback in front of Congress in June.

"A small taper seems to be what the market is expecting," says former Fed economist Joseph Gagnon, who thinks the central bank will pull back its bond purchases to somewhere between $70bn and $75bn monthly.

But the challenges confronting the Fed are vast as it tries to navigate a completely new situation: how to return to normal, five years after the housing market collapse and subsequent recession forced the bank into new and untested stimulus tools.

In the middle-class suburb of Wayne, New Jersey, both the impact of the Fed's policies over the past few years and the conundrum the bank currently faces are fully on display.

They'll Never go Lower

To see the Fed's stimulus efforts in action, look no further than David and Julianne Philp.

They've lived in the same quaint white house on a leafy side street in Wayne for the past 17 years.

In the middle of the recession, David lost his job.

"By 2009, I'd been out of work for about 14 months and we needed to save money," says David.

So, after seeing an advertisement about low mortgage rates - rates that were lowered as part of the Fed's initial efforts to stimulate the economy, in the wake of the housing market collapse - David and Julianne decided to refinance their home.

"The rate went from 5.25% in 2009 to 4.5%," says David, which allowed the couple to stay afloat during those lean years.

"After we refinanced in 2009, we thought, 'Well, they'll never go any lower than that,'" says David.

But of course, rates did go lower, because of the Fed's extraordinary efforts to lower longer-term mortgage rates by buying mortgage-backed securities as part of quantitative easing.

Once more, the couple did the maths - and figured out that another refinancing effort could help them.

This time around, the rate on their 30-year mortgage was lowered to 3.785%, which allowed them to save more than $300 a month on mortgage payments. Additionally, they could pay off credit card debt that had accumulated during the recession.

"We just wanted to get back on our feet, feel good about our money situation and start saving," says Julianne.

Now, they can repaint their home, go out to dinner and begin saving for the future college tuition of their two daughters, aged nine and 12.

"This was our first summer in a long time when were able to not worry," says Julianne.

A Dramatic Increase

The US economy was also relatively worry free this summer, with job growth holding relatively constant at 160,000 a month and good, if not great, GDP figures.

The Fed's efforts to boost consumer spending by keeping mortgage rates low and then lower seems to have worked, as the Philps and others like them recover from the wounds of the recession and begin to find themselves with extra cash on hand.

But the question remains: is the US economy strong enough to continue to grow without the Fed's extraordinary efforts?

Wendy Nastasi, the mortgage broker who helped the Philps with their refinancing, worries that the tap might be prematurely turned off.

"We've seen a dramatic increase in mortgage rates, almost overnight," says Ms Nastasi.

Over the summer, the rate on a 30-year fixed mortgage rose one percentage point, and already the number of US homeowners looking to refinance has plunged from 17% in early 2013 to just 2% today.

"You're going to see what improvements we're seeing in the housing market stall," cautions Ms Nastasi.

This stall could have a knock-on impact.

"If you have fewer mortgage refinancings, that suggests that households will have less cash than otherwise to spend on a variety of goods and service," says John Lonski, chief economist at Moody's Capital Markets.

Mr Lonski says that since consumer spending makes up two-thirds of US economic activity, a slowdown in refinancing could have profound effects.

I've Been Out of Work Nine Months

So this is the tightrope walk that the Fed must negotiate.

On the one hand, Mr Bernanke and his fellow central bankers worry about keeping their foot on the accelerator for too long, potentially leading to higher inflation.

But take their foot off too soon and they risk prematurely slamming on the brakes of a fragile US recovery.

"Personally, I think it is too soon to taper, because the economic data have been disappointing and inflation is below target," says Mr Gagnon, who is now at the Peterson Institute for International Economics, a think tank in Washington DC.

"But I think several members of the committee are nervous about buying so many bonds."

At the Park Wayne Diner, just a few minutes away from the Philps' house, the difficulties of the situation are on full display.

Owner John Stoupakis says that business has been good, but not great.

"I think the economy is going to be better, but it's not where it's supposed to be - here, business has been off," he says as he surveys his busy, if not bustling, dining room.

Diner patron Jerry Eisenberg says he's impatient for the Fed to stop its stimulus efforts.

As a retiree, he says low interest rates have hurt his savings.

"We could feel a little more freer to spend [if rates were higher]," he says.

"To make money on savings, you have to take risks now."

But for others, the situation remains grim.

"I haven't worked in nine months, I'm looking for anything that will pay me," says 30-year-old Travis Nonn.

"If the economy's improving, you can't prove it by me."

Thursday, 4 July 2013

Stocks Offer Surprising Strength, So Far

The United States will be celebrating Independence Day on Thursday -- and investors may choose to celebrate that the U.S. stock market didn't slump on Wednesday. 

In fact, stocks recovering from early selling, and the major averages all finished with modest gains. 

Crude oil (-CL), however, closed above $100 a barrel in New York for the first time since May 3, 2012, on speculation that political turmoil in Egypt would push prices higher. And motorists are likely to pay more at the pump as a result. 

The positive finish for stocks may have surprised some. Futures trading overnight had suggested a nasty open because of Egypt and its effect on oil prices, and European stocks were off more than 1%. 

But the catalysts were bullish: improving jobless claims in the United States and some cheer on the part of business that a mandate for employers with more than 50 workers to provide health insurance has been put off a year.

Gold, Silver Rise; Oil Rises on Egypt Tension

Gold and most other metals closed higher Wednesday, as escalating tensions in Egypt pushed the price of crude oil and other energy futures higher.

Gold for August delivery rose $8.50, or 0.7 percent, to settle at $1,251.90 an ounce Wednesday. Silver and copper also rose, but platinum and palladium fell.

Silver for July delivery rose 39.1 cents, or 2 percent, to $19.689 an ounce. July copper rose 3.2 cents, or 1 percent, to $3.1740 a pound.

July platinum fell $21, or 1.5 percent, to $1,345.30 an ounce and September palladium fell $3.20, or 0.5 percent, to $685.70 an ounce.

Crude oil rose to its highest level in more than a year as Egypt's political turmoil escalated and U.S. supplies fell. Egypt's military ousted embattled President Mohammed Morsi, suspended the country's constitution and called early elections.

Benchmark oil rose $1.64 to $101.24 a barrel on the New York Mercantile Exchange. It rose to $102.18 a barrel earlier, its highest price since last May.

U.S. crude supplies fell by 10.3 million barrels from the previous week, the Energy Department reported, more than three times the drop that analysts had expected.

In other energy futures trading, natural gas gained 4 cents to end at $3.69 per 1,000 cubic feet, heating oil added 5 cents to finish at $2.95 per gallon, and wholesale gasoline rose 5 cents to end at $2.84 per gallon.

Wheat and soybeans rose. Corn ended flat.

Wheat for September delivery rose 6.75 cents to $6.65 a bushel. Soybeans for November delivery rose 8.25 cents to $12.5075 a bushel. Corn for December delivery was unchanged at $5.0275 a bushel.

U.S. markets will be closed Thursday for Independence Day.