Foreign Currency Exchange & Transfers Ltd.

Recession Dealt Us a Hand We Must Play Cunningly

2009-02-24T22:47:00.001Z

We have been dealt a hand which is very difficult to play with any sort of confidence. However, we must realize that hardly anybody is holding a good hand, and thus we are not necessarily down and out. From now on, it all comes down to skill and a little bit of luck.

Of course, it is all to do with money. In some cases the safety of it, but mostly the lack of it. Include the malady of housing and jobs into the equation, and this should be sufficient to give most people a king sized headache.

There is no percentage in moaning or being depressed. Hard times can often bring great opportunities and the sooner one looks for them, the better. How many times does one hear of needing luck to be in the right place at the right time? It is more likely, that great effort needs be made to make sure to be in that right place at the right time!

The ability to anticipate with a high degree of accuracy the pros and cons of whatever venture one wishes to succeed in, can only be achieved by taking the bother to become knowledgeable and well informed . Good anticipation is the key to win whether it is in tennis, chess, football, or in any kind of business. It is also important when needing to get out of problems.

People who do their jobs with feeling, care, and interest are the last ones who are made redundant because they are in the indispensable bracket and are released only if there is no other way. A good employee is always noticed. Although skill is vital, willingness also plays a major part.

On the housing front, if you are selling, you expect to get less than you would months ago. Equally, if you are a buyer, you expect to get a property much cheaper now than months ago. Since everyone has to live somewhere, in theory one thing should cancel the other. There are of course people who buy and sell or build houses as a business, and who have come to a halt at the moment. They did have a good run for their money nevertheless, and one cannot be on a winner all the time.

The difficulty of being able to borrow money with ease, or if at all, does have a huge bearing on the housing market or car market and many other cases, but on the other hand, it stops the ones who are reckless in their spending habits, albeit it does not help the economy where spending keeps the wheels turning.

Many will not be able to keep up the lifestyle to which they hooked unto. Some will have to go back to the spending limits which they knew all about before the boom days, while others will have to tighten their belts within limits they never experienced before. All will have to be resilient to difficult times in order to succeed.

One must come to terms with rising unemployment during a recession period, but it is essential to keep a positive outlook on things. The way forward has to be to recognize that the more knowledgeable one is, the more indispensable one becomes.

Time is always valuable. If you have less work and thus more free time, never waste it. Keep perfecting your skills, and this will propel you ahead of your competitors in due course.

Paul Dubsky
Paul Dubsky is director of Foreign Currency Exchange & Transfers Ltd. The company is focused on being able to offer really friendly currency exchange rates. We believe we are the only Foreign Currency Exchange company which offers special rates to Senior Citizens.

Taking Stock Of The Increasingly Disturbing Position

2008-12-16T21:00:00.003Z

The number of people who feel they have reached a problem incapable of a solution is growing. It is all to do with money and the falling house prices of course, but here one has to differentiate between several categories.

The young have complications, senior citizens have complications, the well off have complications, the less well off have complications, and the ex-pats have complications. All of these complications are subject to their own peculiarities and need separate understanding.

In the case of the young first time buyers, prices are getting lower almost by the day, so from that angle it is better news for them than it was some months ago. However, getting a mortgage is a formidable task and is harder than finding the right house. It may help to look at things from the point of view of the lender, who will not part with money providing he has funds to lend, without careful checking. This means giving correct information as to the income which must be adequate to repay the loan. The type and condition of the property plays a role because the lenders like to have as much security as possible in case of having to recover their money. Ten worthy reliable borrowers are better than a hundred iffy ones. Easy mortgages are a thing of the past, and getting the lender to lend is the biggest obstacle to jump.

Senior citizens, who bought their house more than twenty years ago, should have no problems. Properties in big towns went up so much that they might have sold and bought something cheaper in the countryside to pocket the difference. However, assuming they did, now that property prices have fallen and continue falling, they may have been better off had they stayed put without all the hassle. Some might have borrowed against their property to help the youngsters, but since their house would have gone up significantly before they got their loan, it would not have gone down to a level where they would land in the negative equity zone, so they will muddle through.

The well off brigade have either made more money and got out in time, or else lost some back and remain rich unless they entered the housing game very late and bought at rather high prices. Of course, they probably also suffered losses in other directions, and must now wait patiently for the markets to recover which may take quite a time. The fix will come, but there is no quick fix. Patience is the key, as good opportunities will emerge and to be ready to step in at the right time is essential.

The not so well off are usually very flexible. They have known good days and bad days and by and large are survivors. They are the good spenders when they are holding, and tighten their belts when things are going badly. There is a section on a fixed income that bowl along at a steady pace come what may, who neither get an abundance of thrills nor an abundance of disappointments.

Finally, there is an army of ex-pats who sold their houses in U.K. at the right time, and bought their new property abroad at a reasonably low price with a very high pound. Life was great, and those on a pension enjoyed the bonus of the very good exchange rate for years.

Now the prices of houses have also gone down, especially in Spain where most of the ex-pats have settled. The pound has greatly lost value against the euro, meaning the pension is thus worth much less. It is a double blow. Does the answer lie in selling the house abroad and buying one back home now that the prices have fallen and will fall further? This time the exchange rate would be on their side!

Paul Dubsky

Paul Dubsky is director of Foreign Currency Exchange & Transfers Ltd. The company is focused on being able to offer really friendly currency exchange rates. We believe we are the only Foreign Currency Exchange company which offers special rates to Senior Citizens.

Easy To Get, Hard To Let Go

2008-12-03T12:58:00.002Z

Lets take a couple and call them Mr and Mrs Brown. Like many thousands of others who had very little saved up, they could not fail to notice two things: money was simple to borrow, and houses went up in value by leaps and bounds. No way were they going to get left out of such an opportunity!

Before long, they found their house, easily obtained credit, and instantly saw their purchase gaining sizable value. They never felt so rich and their ego gained altitude. A new car was a must and a cocktail of new adventures was on the horizon, especially since the price of houses was rising more and more and there was no trouble in raising extra cash against the equity of their new property.

Thousands of couples like the Smiths were becoming the proud new property investors, thus driving the market up and up.

It was obvious that a dangerously high proportion of borrowers were given loans well beyond their means to repay. As a result, numerous mortgage lenders collapsed when the inevitable crash came. Such huge numbers of these subprime mortgages were set up, that it caused havoc and many banks were placed into difficulties when this class of borrower failed to make payments. Furthermore, lots of mortgages were sold on to various investors and hedge funds, making their life miserable to say the least.

Money gets hard to borrow when the banks have empty coffers. Desperate sellers start lowering their prices, but mostly this will not work because the real problem is not the price, but the inability of getting a loan which stops a sale. Naturally this type of situation can only make things worse. Negative equity sets in, bringing further complications.

It is sad to lose a house, but repossessions are on the increase. While it may help the letting market since people cannot live with mum and dad forever, it is not a permanent answer.

When banks have a shortage of money it is not only home buyers who suffer, but all types of businesses from large companies to small traders are hit. Automatically, this in turn sets problems for thousands of private individuals, who cannot keep up their mortgage payments as well as other obligations.

It seems that the old way of making sure a borrower is worthy of a loan, must be strictly observed. It may not please some, but in the long run it will restore sanity to both the borrower and the lender. Unless the two have a happy deal, there will always be a problem.

Paul Dubsky

Paul Dubsky is director of Foreign Currency Exchange & Transfers Ltd. The company is focused on being able to offer really friendly currency exchange rates. We believe we are the only Foreign Currency Exchange company which offers special rates to Senior Citizens.

The Deflation Rocket Is In Flight Right Now

2008-11-08T16:30:00.002Z

Deflation is the opposite of inflation. When there is a retreat in the level of prices things point to deflation. The actual extent of the damage to the economy may well be potentially much higher in case of deflation than inflation.

When collateral collapses, the Banks begin to wobble under the strain and of course the falling home values play a major role, and inevitably credit tightness looms. Naturally, any chance for growth is quickly dampened. It also follows, that with property prices sliding down further, the credit crunch becomes worse. Further down the road, this will discourage a rise in prices and encourage a drop in prices, thus creating a perfect climate for opening the door to deflation.

Banks will start piling money. In order to lure in more cash deposits, some might offer more attractive interest. On the horizon, a picture will emerge of endless heaps of products needing buyers. This will force the prices to go lower and lower.

It is unlikely that anybody will wish to invest in those circumstances, and the prospect of getting jobs will deteriorate.

Financial systems are sensitive to general tendencies or directions. Thus, any slight hint of changing conditions from good times to bad times can trigger confidence to change from good outlook to gloomy outlook. The lending appetite as well as the borrowing appetite shrinks, which means that ultimately the prices of goods fall.

The cocktail of debtors, creditors, consumers and producers laced with a negative trend, will set off a warning siren. Once the creditors begin to worry it is hard to contain their fears. The supply of money begins to dry up and cash is king.

When the supply of goods goes up quicker than the supply of cash, favourable conditions for deflation begin to gather. The ability to lend or borrow is a problem which seldom has happy endings unless a great deal of effort is given to solve it. There is no inoculation to make one immune to the disease of deflation because the component part of the disease is not necessarily always completely the same, albeit very close. Whatever happens, it will take quite a while to get rid of it.

The thing to be aware of is not to get into a situation which makes people wait and not buy because they think prices will go down. This makes for an acute spiral of lowering prices with no end in sight. As a result, the factories cannot make money and get into more and more trouble, and consequently redundancies start gathering pace.

Paul Dubsky
Foreign Currency Exchange & Transfers Ltd.

Making Right Decisions More Often

2008-08-10T23:33:00.003+01:00

Nobody can be right all the time, but many are making it more difficult to be right even some of the time.

The answer is because they tend to jump to conclusions too fast, and thus can misjudge a particular situation.

You can make a hasty decision fly, but you have to successfully land it. This applies to all kinds of examples. You may like the look of a particular car for instance, and your inner self will start making a case for having that type of car. You will often help the salesman to make the sale without knowing it by asking questions in a way to get answers you want to hear, such as: ' I take it the car does a good mileage to the gallon' or ' I presume that the resale value if quite good on this model ' or ' these are very reliable cars are they not?'

Instead, it would be prudent to have checked the facts about the fuel consumption of that car, how well does it hold the resale value, what was the report on the reliability of the model in question. Furthermore, getting to know out what other cars offer in value before making a decision is important. Flying on an instinct can be scary.

There are other instances where decisions are often made not in line with thinking ahead in a prudent way. Take the case of choosing a dolly bird for a wife. It may not be the best selection for a wife whose role must also be to devote serious time to the tedious task of housework, and possibly help in the running of a business.

It is mostly the serious quiet types that most rich businessmen prefer as wives, because it is more suitable for them, and also because in the long run, any other choice would end up almost certainly in problems.

The 'go along to get along' formula maybe a way to solve a few problems, but it is not a way on which to base all choices. To hope to make the right decisions in the field of share buying or currency trading for instance, one has to devote serious time to the study of such markets. Rushing things can limit making the right decisions.

It is easy to understand that an obese person would not be suitable to sell slimming biscuits, and that a good looking lady would be more suitable in selling beauty products. When it comes to dealing in special markets, it is not as easy to understand the good and bad points and well informed people have a distinct advantage. If you are not sure, consult the experts it is worth the money.

Many people have not landed the right jobs because in a hurry underlings have not made the right decision to put their name forward to be noticed. Wrong decisions are being made simply because the people making them lack the will power to go the extra yard.

Paul Dubsky
Paul Dubsky is director of Foreign Currency Exchange & Transfers Ltd. The company is focused on being able to offer really friendly currency exchange rates. We believe we are the only Foreign Currency Exchange company which offers special rates to Senior Citizens.

Like Sharks They Must Keep Swimming Or Else Sink

2008-08-02T23:55:00.002+01:00

It is well known, that sharks must keep swimming or they sink. In a similar way, lots of businesses, not least the banks, share that kind of problem.

For the latter if circumstances arise that can cause interruption to normal activity, life support machinery is required pronto.

Banks need new depositors whose cash will help to pay out existing clients who, like it or not, need to take some of their cash out at times. Since the money from previous depositors Tom, Dick, and Harry is out earning interest, the funds have to come from somewhere to keep the show on the road.

Of course if Tom, Dick and Harry happen to be financially strapped for some horrible reason like a credit crunch, and start missing out on regular payments, headaches of major dimensions will flare up. That is the time to get going and get bailed out by the central bank, who will invariably fork out because after all, who wants to create waves more than is necessary and start a run?

Getting money out of Peter to pay Paul is not really the thing to do, but then, there is an art in doing the wrong thing correctly.

Naturally, it is a bit more complicated than that, and we do need the banks, albeit they need us. Banks play a major role in making business possible, and for deals to take place. It is unthinkable to manage without them. However, it is not pleasant to know, that we have to pray for their good health, which we could ruin without wanting to, and actually help to sink them as well as ourselves at the same time.

The lack of liquidity is of course the main culprit. The wheels of the liquidity providers have to be turning smoothly for them, so that they in turn, can function. Anything going wrong brings fear of safety, and can trigger an avalanche of failures. It does not matter how many safety nets there may be in place, to avoid trouble is hard.

Like the sharks which have to keep swimming or else they sink, one too has to keep active come what may, to keep afloat. It means determination at all levels to do without certain things, raise output as best as possible even if under difficult conditions, and stay cool. Such combination always produces winning results.

It takes only a little to upset the boat, but by the same ruling, a little extra effort can see it sail through to safety.

Remember that song Ya Gotta Have Heart? If you sing it every now and then, it works wonders!

Paul Dubsky
Foreign Currency Exchange & Transfers Ltd. The best currrency rates for overseas property buyers.

There Is Always a Limit With Luck

2008-08-01T23:55:00.002+01:00

Take luck and bad luck as two possibilities to be a recipient of. Call them A or B. The outcome of tossing a coin tails or heads brings two possibilities, again A or B.

Now, if you bet only once heads or tails, you have an even money chance of winning. This means that you have an even money chance of being lucky providing you win and walk away and play no more. You also have an even money chance of losing providing you walk away and play no more.

If you won you were lucky and if you lost you were unlucky. You took a chance and won, or you took a chance and lost.

There is luck, and then there is making the right or wrong decision not by chance but by reasoning. If making a decision by taking a chance and you win, than it is luck. If making a decision on the basis of working things out and you win, it is not luck but the consequence of making the right judgement. If you lose it is not bad luck, the cause is due to making a bad judgement.

People tend to mix luck arrived at by chance, with causing the right or wrong decision
based on their judgement. Often, many people work things out incorrectly and thus get an unwanted result, and automatically think themselves as being unlucky. Until they study more what they are into, they will keep on being unlucky.

Take a case where a man loses a five pound note and another man finds it. Here, the finder is plain lucky. The person who lost the five pound note was careless, not plain unlucky.

Being prepared for eventual good or bad developments may result in a loss or gain situation. More often than not, preparation and foresight determine the extent of luck or bad luck.

When professional gamblers or bookmakers lose at the races it is due to information or calculations nor being as good as they expected and not because of bad luck. When the ordinary punters win, it is due to luck based on purely taking a chance.

Well read, and well experienced foreign exchange operators are less likely to be unlucky than haphazard players.

A pilot has to fly lots of miles before he knows all the eventualities. A car driver, albeit he or she passes the driving test, cannot possibly know all the likely unexpected situations that can arise and often do arise, unless they have completed thousands and thousands of miles under all sorts of conditions.

Using the services of a good realtor, stockbroker, builder, accountant etc. may sound to some as not too important and many think they can do it on their own. Like the ordinary punter at the races, their success will be mainly based on luck. However, it is prudent to remember, that there is always a limit with luck. To get more mileage out of luck, the best way is to take precautions to avoid bad luck. Getting professional
advice and increasing your knowledge about whatever you are working on, is the best way forward.

Paul Dubsky

The best currrency rates for overseas property buyers.

Paul Dubsky is director of Foreign Currency Exchange & Transfers Ltd. The company is focused on being able to offer really friendly currency exchange rates. We believe we are the only Foreign Currency Exchange company which offers special rates to Senior Citizens.

Seeing Things Through Bewildered Eyes

2008-08-01T23:47:00.002+01:00

When we read certain statements or listen to comments on various things, we tend to accept them as the truth, albeit that not everybody believes in everything they read in the papers or believes everything some politician might say anywhere in the world.

For instance, there are many items of news coming through about the state of the economy as well as the financial positions of large companies and banks. It would be nice to know if things are not so good, bad, horrible, or desperate.

To get an answer to that, it would be necessary to believe someone, somewhere. Of course, one would have to accept that what one reads and hears is in fact the whole truth.

One could argue that even the law does not require the truth, just the appearance of it. After all, is it not reality, that most cases are settled on what is acceptable to both parties?

With that in mind, one could come to the conclusion that we are often being presented with an appearance of truth, and depending on the brilliance of the performance of the presenter, we swallow it hook, line, and sinker.

The appearance of truth as opposed to the real truth cannot be fairly quickly ascertained like the difference between a real diamond and a fake.

The answer lies in the ability to read in- between the lines. Such ability is something which one is not born with. It comes with a great deal of experience.

The one person you should be able to believe is yourself. If you formulate your own opinion based on knowledge you ascertain is correct, you are doing all that is possible to achieve the best result.

Your opinion may well be arrived at by having studied the problem in question at great length, as well as taking advice from several professional experts. Whatever way you eventually arrive to a conclusion, it will not be on the strength of reading various reports which may be put out in calming way. The sooner you work on mastering the art of reading in-between the lines, the sooner you may be on the track of more accurate versions.

The main concern is getting things right in the field of finance. Whether it is shares, foreign exchange, buying a house here or abroad, etc. it is not only the best deal that counts but also the best time it is prudent to do it There are instances where it is possible to miss the boat due to lack of information and not acting quickly enough to take advantage of favourable situations, or to prevent suffering losses by being able to envisage possible problems well in time.

Staying well informed at the cost of little time and money, can make a huge difference. Seeing things with bewildered eyes is always a formula for disaster.

Paul Dubsky

Paul Dubsky is director of Foreign Currency Exchange & Transfers Ltd. The company is focused on being able to offer really friendly currency exchange rates. We believe we are the only Foreign Currency Exchange company which offers special rates to Senior Citizens.

The best currrency rates for overseas property buyers.

The Possible Consequences of the Falling Housing Prices Fiasco

2008-05-30T00:11:00.001+01:00

The game was, to talk mum and dad to borrow on their house in town, which rose by leaps and bounds in price, and thus find a deposit to give the kid to put down on a house out of town. Assuming it was just about possible to find a decent house at a price without incurring financial difficulties in mortgage payments, it was not necessarily going to be in an area of one's choice. It was also likely, that a possible risk of undesirable consequences would develop in due course.

By this, it is meant, that many people went ahead and bought a property which they normally would not rush into buying, but were driven to do so, because of rising prices reaching more and more areas.

It followed, that many have moved into neighbourhoods not right for them and where they and their children would not really fit in.

Coming from a relatively posh neighbourhood into a lower grade one, can equate into a "them and us" attitude, thus creating a whole series of little problems which escalate into big problems.

As time went on, in many cases mum and dad would sell their house in town, with enough profit to pay off any mortgage and buy a house for cash near their kids.

During the period when housing went up in value, the kids were able to borrow more on their new house, so that they could live it up and buy a new car etc., and life was quite pleasant for a time. There comes of course the day, when all this has to be actually paid for, and with the arrival of the credit crunch, it is proving quite a task to deal with. If negative equity sets in, all the red lights come on.

Basically, this is the sort of situation many are facing right now. There is another wave of people with no kids, who sold their house when the yoyo was up and bought a cheaper house in the country, pocketing the difference as a nest egg for future times. All in all, they feel they got a good result so far.

Those who chose to buy and live abroad, are facing good or bad news regarding the currency values, and in some parts of the world, housing is also prone to price fluctuation.

Challenging times need a cool head and a positive attitude. Life is a game to be played as best as one can, and to play it well, there are a few tips to follow.

If you owe money that cannot be paid back in the way it was intended, it is no help to put things under the carpet, but come out with the truth straight away by going to an expert company that deals with this kind of problem. There are many good ones you can approach, and by letting them face the music on your behalf, will achieve a much better result for you and the people you owe. A formula will usually be found, which will be acceptable to both parties.

If things get as bad as repossession, there are experts to guide you through the
problems of this dilemma, often able to find a way of avoiding it, or at least delaying it.

Making money is not just about how much you earn, but what you do not need to spend. Every penny that can be saved, counts in the long run. It may go against the grain, but one really has to bargain wherever possible.

Whether dealing with an estate agent, a foreign currency exchange company, car sales representative, travel agent, and all places where larger sums are in play, it is imperative to get the best deal. Remember when you bargain, people take you seriously because they know you intend to do business.

A lot of money is being spent on food and petrol. By careful planning and knowing what you are actually needing to buy in the store instead of browsing and shopping willy-nilly, saves money. Remember, cutting down on journeys which can be covered on foot or by cycling, is healthy for your figure and bank balance.

People are only people. They know very well how things are, and know the difference between liberty takers and genuine situations where money is tight. It is wise to understand that the companies you may owe money to can be in difficulties themselves.

By being truthful and acting quickly, a lot of problems can be ironed out in an amicable way without losing a good name.

Paul Dubsky
Paul Dubsky is director of Foreign Currency Exchange & Transfers Ltd. The company is focused on being able to offer really friendly currency exchange rates. We believe we are the only Foreign Currency Exchange company which offers special rates to Senior Citizens. The best currrency rates for overseas property buyers.

Useful Phrases When Driving in French Speaking Countries

2008-05-16T15:33:00.002+01:00

Sometimes one wants to ask people how to get to somewhere, or where is this or that, and without knowing how to say it, life can be a little difficult.

Here are a series of likely phrases which may help in typical situations.

Excuse me, but can you tell me where I can find a petrol station? ( Excusez moi, mais pouvez vous me dire ou je peux trouver une station service?)

Your car may need some attention and you wish to ask: I need a mechanic to look at the car ( J’ai besoin d’un mechanicien a regarder ma voiture)

It may be a Sunday and you want to ask: Is there a garage open on a Sunday here? (Y at-il un garage ouvert le dimanche ici?)

If you have a flat battery you may need to ask: I have a flat battery have you a charger? ( La batterie est a plat avez-vous un chargeur?)

You are on your way to Paris and you want to know how far it is: How long does it take to Paris from here? ( Combien de temps faut-il pour Paris d’ici?)

You may want to be sure they take a credit card: Can we pay by credit card, we have not enough cash?( Pouvons nous vous payer par la carte de credit nous n’avons pas assez d’argent?)

You are looking for a toilet and say: Excuse me are there any toilets near here? (Excusez moi,y at-il des toilettes pres d’ici?)

You see a policeman (un agent de police) and you want to ask him: Is this the right way for the motorway?( C’est bien la direction pour l’autoroute?) Or you may ask him: Is there a motel nearby? ( Y at-it un motel pres d’ici?}.

You have arrived late at the hotel and you want to say: There were a lot of delays on the road ( Il y avait trops de bouchons sur la route) . You may wish to add :
On top of that the car stalled several times (En plus, la voiture a cale plusieurs fois.

The car may be dirty so you are looking for somewhere to have it washed and you
ask: Is there a place to wash the car: Y at-il une place pour laver la voiture?

If you see a sign that says: Impasse then it means a No Through Road. You may wish to know that (faire demi tour) means to turn back. Just in case you get a parking ticket, it is called (la contravention) and the traffic warden is called ( le contractuel).

The fog (le brouillard) can be a nuisance and the flood (l’inondation) is another hazard. You may want to know that mud is called (la boue).

When people tell you to keep going straight on, they say (Tout droit).When they tell you to turn left: ( Tournez a gauche) when they say turn right: (Tournez a droite) and when they say turn to turn right at the next lights: (Tournez a droite au prochains feux).

You may need to find a bank and ask, is there a bank here? (Y at-il une banque ici?)
You may need to know the exchange rate (Le cours du change).

Sometimes, one wants to confirm one is on the right road for Paris let us say: Is this the right road to Paris: (C’est bien la route pour Paris?) If you want to say: I am sorry to trouble you: (Je suis desole de vous deranger).

In case you want to know what the rush hour is in French, it is (les heures d’affluence).

You will not need your medical insurance (une assurance maladie) if having the flu (avoir la grippe), but you may, if you have a heart attack ( une crise cardiaque ).
In case you need to find a local pub, you will have to ask for (le bistro du coin).

Paul Dubsky

Paul Dubsky is director of Foreign Currency Exchange & Transfers Ltd. The company is focused on being able to offer really friendly currency exchange rates. We believe we are the only Foreign Currency Exchange company which offers special rates to Senior Citizens.

The Evils of Inflated Credit

2008-05-16T15:22:00.003+01:00

The questions of currency and credit are closely interlinked. The inflation of credit does not necessarily lead to inflated currency, and deflated credit does not necessarily lead to deflation of currency, provided the balancing act is done carefully. A spanner in the works can cause all sorts of problems.

It could be argued that the inflated credit, a phenomenon which came in handy some ten years ago, helped the wheels to go round particularly creating rising costs in house prices, notably in the UK and USA. This is the culprit, which is now causing a sharp reversal towards a deflated credit period.

For instance, if an inflated credit situation made for house prices to rise to start with, an unsound currency period can follow, and thus carry the evils further.

Is it reasonable to expect that it is safe to extend credit to someone when that someone is borrowing constantly somewhere else against mere IOU notes? If currency was to follow the same path, it would become very unsound.

When problems start to build up in the private and public sector, steady and determined self denial is prescribed as a medicine. However, the condition of the world today is one, which cannot allow uncontrolled severe restrictions on expansion of credit with an easy heart. What is likely to be needed is justifiable expansion of credit which sanctions the demands of the manufacturing and trading sections in particular. Such credit of course, cannot be given without careful monitoring, since the tax payers cannot be expected to bail out banks if unworthy allocation of credit is continued.

Mostly, people are interested in the housing front. We are getting to the point where houses are hard to sell because the lenders might have problems as well as the borrowers. Often, a house would sell and is just the one the buyer wants, but he cannot get it because he cannot sell his house, as money is not made available to his buyer. Where it was possible to find a solution in the past, today it is not all that easy.

In other words, it is not the price of the house that is necessarily the problem, but the difficulty of finding someone who will give approval to lend, as well as possibly someone who actually has the money to do so.

If everybody had their houses fully paid for, cash indeed would be king, and business would be brisk. To find a buyer and a seller who both have their houses fully paid for and have cash to spare, can and does happen, but not often. That type of buyer and seller is the dream for the real estate companies, because they know that the only hurdle needed to jump, is whether the buyer likes the house and not whether he will get the money to be able to purchase it.

So, is it all gloom and doom or is there a way out? In due course things will improve like they mostly do, but until that can happen maybe it is best to fasten our safety belts for a bumpy ride. Things were good for many years and now there is a price to pay for that easy credit given so freely.
The boat is in high waves with more on the way, but it will sail into calmer waters as time goes by. Everybody will be that much wiser, and any damage will be eventually repaired. After all, things do run in cycles.

Paul Dubsky

Paul Dubsky is director of Foreign Currency Exchange & Transfers Ltd. The company is focused on being able to offer really friendly currency exchange rates. We believe we are the only Foreign Currency Exchange company which offers special rates to Senior Citizens.

When Adrenaline Addiction Takes Over

2008-04-09T22:44:00.001+01:00

There are certain people born with a natural tendency for impulsiveness. Quite
a number of these tend to lean towards gambling, the driving reason often being adrenaline addiction.

When the central nervous system needs more stimulation, it seeks to find bigger thrills to feed on.

It is known that forex trading can provide huge thrills, and to approach this business allowing the adrenaline addiction to dictate, can turn out to be very costly.

When muddy data play a part in forming an opinion, and added to this, decisions are made spurred on by adrenaline addiction, it can be a formula for disaster.

Adrenaline addiction can make people sacrifice quality to get instant results. This can lead them to take steps which are not properly planned, and more often than not, result in failure. In forex trading one must beware of this problem.

Many executives and leading political figures are prone to this kind of addiction, which explains why at times, they tend to make certain hurried regrettable decisions. Adrenaline addicts are not frowned upon like some alcoholics, but are given full marks for being constantly on the go, and praised for their relentless efforts to try and achieve their goal.

Bookmakers and casinos are rescued time and time again, by shrewd punters, who when thinking clearly are hard to beat, but when under pressure, allow adrenaline addiction to take over, and start making erratic decisions which costs them dearly.

We have all seen some very high wired tennis stars, boxers, film stars, and footballers, who thrive when constantly in the limelight, only to dwindle to serious boredom when out of it, which in turn, leads to ther thrill seeking that can have serious overtones.

The bottom line is to stay in control and keep cool at all times. You have to slow down sometimes to win.

The ability to create and sustain adrenaline may be of help to propel an executive or sportsman forward, but it can backfire. Wear and tear on nerves and tissues will eventually be the result.

Adrenaline is what our body fabricates to give us a boost to meet a challenge. When there is a crisis, adrenaline turns up because there is a need to make a fight of it

There are people who just will not let go and must be buzzing non stop. They will be on the phone all the time, make notes and calculations. Even if they seem to be relaxing, they are planning their next moves. Hyperactive people are constantly in action, but can eventually start getting burnt out and become bored. At that point, they will tend to seek those higher and higher thrills, in order to get the adrenaline going,
since smaller challenges will not be good enough to get it produced. It is only a matter of time before they are in danger of getting into troubled waters.

It is not all that hard to become an adrenaline junkie, and although on the face of it, to be hyperactive would seem to be beneficial in some line of business but as I said, it can bring about hurried decisions and mistakes. In the business such as forex, banking, betting, bookmaking, driving etc. making even one mistake, can be catastrophic.

The possibility of what adrenaline addiction can cause, must never be underestimated and must be borne in mind, especially by those who are in positions where there is no room for mistakes.

Paul Dubsky
Paul Dubsky is director of Foreign Currency Exchange & Transfers Ltd. The company is focused on being able to offer really friendly currency exchange rates. We believe we are the only Foreign Currency Exchange company which offers special rates to Senior Citizens.

The Probability of Negative Equity Scene

2008-03-23T15:12:00.001Z

When a situation arises, that the market value of the owner occupier's property falls below what his mortgage is, it is a negative equity situation.

By making it possible in the first place to purchase the house because of easy loans, many have gone ahead and bought. They were happy, because the property was rising in value, and it was even possible to keep borrowing more money against it.

Naturally, business was booming, money was being spent on all sorts of things like cars, televisions, holidays, etc.

A general sense of well- being and confidence emerged. All governments love this kind of state of affairs, and everybody is happy.

When things begin to change dramatically, it brings problems of huge proportions. It likes to be seen by many, as a general problem rather than a personal one.

Negative equity, one of the boom and bust economy consequences, is bad news
as it can also lead to many other problems. The feel good factor is gone, and worry sets in. Less money on the table means fewer goods are purchased, which calls for less demand to produce them, thus less jobs. Many mortgage payments are not being kept up, and repossession dangers come into the equation.

All this can lead to other far reaching repercussions, which in turn can have an effect on many who are not even in the negative equity trap.

There are a number of people, who believe that the shortage of money factor does not always lie in the inequality of opportunity, but often in the inequality of performance. They believe, it is vital to raise the output of personal effort to make ends meet, rather than making it a problem which everybody else must automatically pay for, apart from some cases, where hardship will set in, come what may.

While the remarkable ease to obtain credit was promoting plenty of business and everything was buzzing, it also sucked in an army of people who were not really ready to take on the responsibilities in paying back money borrowed.

Negative equity can lead to social troubles. Also, whenever personal debt starts growing with no visible way out, it causes the problem of loss of consumer confidence.

Recently tax payers have been forced to pay towards the propping up of one financial institution already, and who is to say there will not be repeat performances.

The signs are, it will be more difficult to borrow money, even for worthy customers. Businesses will find it harder to get the credit they need, and all sorts of difficulties will follow.

The irresponsible lending which caused so called happiness, will now result in pain to lender and borrower.

Now let us look at things with less gloom. Firstly, there is the group of people who bought their houses at prices which were relatively low, assuming of course that they have not been topping up their mortgage loans on the strength of the rising prices of property. They would have some way to go before getting into a negative equity territory just yet.

Then there is the other group who bought their houses at an already spiralled upwards price, and are in a more dangerous position.

It is to be noted, that albeit repossession is of course a threat if payments are not kept up, and that some companies start getting worried even after a couple of months of arrears. They can take action by going to the County Court to get a possession action so that they can sell the house and recover their money. Of course there is normally a period of writing and offer making, and solicitors start writing etc., which extends the time before anything does happen.

Most of all this can be avoided, if proper action is taken early. There are a number of expert companies which handle these situations remarkably well. You can argue on terms with the mortgage companies for a start. There are ways how you can rent back your own home, in other words remain in your home as a tenant, and various other ways to pursue.

It is always prudent to be prepared to meet problems or find a way to get out of their way. It may be better to get a smaller house or a flat while there is time. It may be better to sell and move abroad while there is time. Every individual has different problems and possibilities.

There are some very helpful estate agents both here and abroad with nice deals on their books which might be good to consider. To get foreign money, there are some really good foreign currency exchange companies who will give better rates of exchange than most high street banks should one wish to sell and buy abroad.

By being prudent in the future, by extra hard work and looking for the best bargains, things will in due course get sorted out. They will not get sorted out by borrowing to get out of trouble, without a clear reason and plan how to pay it all back.

Paul Dubsky

Paul Dubsky is director of Foreign Currency Exchange & Transfers Ltd. The company is focused on being able to offer really friendly currency exchange rates. We believe we are the only Foreign Currency Exchange company which offers special rates to Senior Citizens.

A possibility of the arrival of negative equity. The problems that negative equity can bring. Avoid repossession by making early plans. Irresponsible borrowing not the answer. Maybe there is still time to sell and get something smaller or look abroad.

Memo on Recession, Housing, and Inflation

2008-03-23T15:04:00.002Z

When recession starts creeping in it will become noticeable. Spending on households gets smaller and smaller as incomes get smaller. Business in general gets slowed down, and when that happens, unemployment starts going up. The consumer has less money to spend and gets worried, and any major outlays will tend to be delayed as much as possible. The consumer hangs on waiting for better times.

It does not mean that everybody earns less, but many will. What does make an impact is the feeling of having to be more careful about spending.

Naturally, consumer confidence starts to tumble, as a gloomy point of view takes over. It does not help to see reports of subprime crumple and other financial horror stories.

On the housing front, it is also a time to ponder, since most people are governed lately by the rising or falling value of their homes. Many have been dependent on the continuation of the increasing market price of their house and got used to this magic phenomenon which enabled them to get so many things they could not afford otherwise.

The financial standing of people is not always best measured by what amount they have in the bank, but their steady earning capabilities, and the competence of the control of their funds as well as their reliability. Thousands of instances occurred, when people have won fortunes or inherited them, only to wind up in a big minus. These are the most vulnerable people, because quick money came their way, and good luck to them, but they have problems to keep up their new style of living if something goes wrong. To fall into money is one thing, but to keep it, is another. Finding a way out is always hard, but at least there is a lesson to be learnt, and that is, when you get into money, do not be in a hurry to spend it all without making sure you can really afford it. Keep enough money to ride out a possible storm.

Of course, there are those who have been careful with their money, and to them many opportunities will unfold to purchase property at rock bottom prices. They are undoubtedly only waiting for the right moment to pounce and will gain eventually.

There are others, who have made investments which have lost in value. They have not spent their money recklessly, but are victims of circumstances which may change later. Mostly, these people can wait and will be back in good shape ready to fight on.

Looking to spot inflation is not too hard. The Retail Price Index is a good pointer to the inflation position. This is taken once a month.

The R.P.I. is arrived at by taking a numerous lot of prices and ascertain as to what extent there has been a price move. The items selected will generally be important such as food and other everyday necessities.

When you notice the phone bill, the electricity and gas bill, and various items on your shopping bill go up, you are looking at the arrival of inflation.

In other words, we know that your money will not go as far as it did before.
Inflation can start eating into your savings, so make sure that your invested money makes at least enough to counter this.

Of course, gloom comes but it also goes. At all times be sure you get the best you can for your money whether it is buying a house or currency or a car or whatever.

There are many foreign currency exchange companies, so find the one which gives you the best exchange rates. It is well worth the few phone calls. The same thing goes for buying a house, so do not be afraid to make an offer thinking it might be on the low side, you never know your luck. With cars or anything else, the principle is the same, look for value.

Paul Dubsky

Paul Dubsky is director of Foreign Currency Exchange & Transfers Ltd. The company is focused on being able to offer really friendly currency exchange rates. We believe we are the only Foreign Currency Exchange company which offers special rates to Senior Citizens.

Recession can be noticed when it comes. Confidence begins to tumble. Former increase of house prices may not be there forever watch what you spend. When inflation sets in, you will know about it soon enough.

Useful Tips on Driving in France

2008-03-02T22:55:00.001Z

Every year, thousands of foreign drivers will take to the French roads. Many will be on holiday, some will be coming to France on business or to purchase a property, some will be passing through on the way to other destinations. All will be exposed to certain different driving requirements to adhere to.

Quite a number of people tend to disregard certain points thinking that the chances of getting caught are slim, and anyway thinking they are foreigners, they imagine that they can be excused.

Do not underestimate the chances of getting a fine, as radar checks are numerous. You can even lose your licence if you exceed the speed limit by 25 k/h and speeding fines are imposed on the spot. So keep to the limits and enjoy your trip rather than have any problems.

It is worthwhile to remember that when the roads are wet, the speed limit is reduced.

On the motorway the limit of 130k/h is reduced to 120k/h when conditions are wet. On the dual carriage way the limit is 110k/h and reduced to 100k/h when conditions are wet. Keep watching for the various signs such as going through towns where the 50k/h sign will appear.

Don't get caught without wearing your seat belts in the front, as well as making sure the passengers at the back are wearing them too.

Remember that the minimum age allowed to drive in France is 18.

As far as the headlamps are concerned, yes they must have converters, and when the visibility conditions are not good, you are required to keep the dipped headlights on.

As for the roundabouts, the priority is given to the vehicles coming from your left.

You may also find it useful to know some of the following expressions and words:

To be out of petrol = Tomber en panne d' essence
To break down = Tomber en panne
Switch the engine off = Coupez le moteur
No entry = Sens interdit
Tyre = Pneu
Keep going straight on = Continuez tout droit
Petrol station = Poste d' essence
To have a puncture = Crever
I will arrive late = J' arriverai tard
It would be better to take the car = Il vaudrait mieux de prendre la voiture
To move towards = Se diriger vers
It is not serious/ do not worry about it = Ce n' est pas grave
To set off = Se mettre en route
To come back = Revenir
To leave = Partir
To arrive = Arriver
To go = Aller
The battery = La batterie
Wheel = Roue
At the wheel = Au Volant
Brake = Frein
Driving licence = Permis de conduire
To drive too fast = Aller trop vite
Crash one' s car into = Faire rentrer sa voiture dans
To crash into = Rentrer dans
There is no hurry = Rien ne presse
To come = Venir

Paul Dubsky
Paul Dubsky is director of Foreign Currency Exchange & Transfers Ltd. The company is focused on being able to offer really friendly currency exchange rates. We believe we are the only Foreign Currency Exchange company which offers special rates to Senior Citizens.

Foreign drivers and French roads, on holiday, on business, the need to observe driving requirements, heavy speeding fines, many radar checks.

Useful Words to Know When Buying a Property in France

2008-02-14T15:40:00.002Z

Often, even if one knows a foreign language well enough to understand and to be understood, there are times when certain expressions here and there might cause a certain amount of difficulty in remembering them.

In conjunction with the task of looking for a house, and subsequently finding one, it is important to be familiar with the expressions and words which are likely to be used at that time.

For this reason, set out below, are a number of words to help those who might find them useful, and thus make life that little bit easier for both the buyer and the seller.

1. Buyer = Acheteur
2. Deed of Sale = Acte Authentique De Vente
3. Estate Agent = Agent Immobilier
4. Cash = Argent Liquide
5. Lift/Elevator = Ascenseur
6. Proof of Ownership of the Property = Attestation De Propriete
7. Lawyer = Avocat
8. Bath = Bain or Baignoire
9. Suburb = Banlieu
10. Building = Batiment
11. Office = Bureau
12. Land Registry = Cadastre
13. Country = Campagne
14. Cellar = Cave
15. Carpenter = Charpentier
16. Shopping Centre = Centre Commercial
17. To do one's shopping = Faire ses Courses
18. Central Heating = Chauffage Central
19. Air Conditioning = Climatisation
20. Seaside = Bord De Mer
21. Corridor = Couloir
22. Courtyard = Cour
23. Mortgage = Hypotheque
24. Double Glazing = Double Vitrage
25. Bus Station = Gare Routiere
26. Train Station = Gare
27. Renting of houses = Location des maisons
28. Ceiling = Plafond
29. Plumbing = Plomberie
30. Power Socket = Prise Electrique
31. Sitting Room = Salon
32. The Grounds = Terrain
33. Roof = Toit
34. Entrance Hall = Vestibule
35. View = Vue
36. Town Planner = Urbaniste
37. Basement = Sous Sol
38. North = Nord
39. South = Sud
40. East = Est
41. West = Ouest
42. Window shutters = Volets
43. Seller = Vendeur
44. Attic = Grenier
45. Sunrise = Lever du Soleil
46. Sundown = Coucher du Soleil
47. Place to park = Endroit pour se garer
48. Post Office = Bureau de Poste
49. Take possession of = Prendre Possession de
50. Swimming pool = Piscine
51. Mains = Canalisation
52. Neighbour = Voisin
53. Neglected = Mal Tenu
54. In Good Condition = En bon Etat
55. Wall = Mur
56. Orchard = Verger
57. Landlord = Baileur
58. Right of Way = Droit de Passage
59. Housing Estate = Lotissement
60. Maintenance = Entretien
61. Paving = Dallage
62. Shower = Douche
63. Freezer = Congelateur
64. A Will = Testament
65. Building Site = Chantier
66. Deposit = Acompte
67. Workshop = Atelier
68. Slate Tile = Ardoise
69. GDF = Gas de France
70. EDF = Electricite de France
71. Lease = Baid
72. Heating = Chauffage
73. Chipboard = Agglomere
74. Planning Permission = Permis de Construire
75. To make bigger = Agrandir
76. Furniture = Meubles
77. Aerial = Antenne

There is of course a good chance that the estate agent and the solicitor and others one has to talk to when buying a house, speak English. If their English is not all that good, it will be nice to know as many words as you can.

Paul Dubsky

Paul Dubsky is director of Foreign Currency Exchange Services Ltd. The company is focused on being able to offer really friendly currency exchange rates. We believe we are the only Foreign Currency Exchange company which offers special rates to Senior Citizens.

Time to Evaluate the Possibility of a Change of Trend

2008-02-06T21:58:00.000Z

Quite a number of shrewd American investors have been buying foreign stock these last couple of years, and made good returns in the process. It was a good decision, especially since the dollar started to fall and fall.

Of course, nothing lasts forever, and there is a whiff in the air of a change in the attitude towards the dollar. This is not without some reason albeit, that many think it is nonsensical to consider that the dollar should begin to appreciate.

The malaise with which USA has been dogged for some time now, is starting to reach the shores of other countries, notably Europe. It was inevitable that the problems of USA would affect others. The position of interest rates, falling house prices, the lot.

These consequences might be beneficial for the dollar, and those shrewd American investors may well decide to cut back on their investments abroad, and return to their currency with a profit while they can, because a rising dollar value would cut into their profit. This may be just one reason of several, to start a reversal trend.

For one thing, the British pound in particular, has been valued too highly, and whatever injections of support it has been getting, cannot last forever. Also, the high position of the euro is not easy to live with much longer.

It is well known that many factors have pointed to dollar weakness, and there are numerous people who will think the currency must weaken again in the long run.

It would certainly be nothing new, to see things turn out in a manner contrary to the book. The foreign currency game is prone to surprises. However, there are times when surprises, when put under the microscope, are in fact events which should have been seen as very real possibilities. Those, with that little extra foresight, may well be tempted and step in early by siding with the dollar.

So, is this the moment when the gamble might pay off and the dollar appreciation start?
Everybody would like to know the definite answer to that, and the best way may be is to ask the question whether the dollar has reached the bottom.

This is the point where the gambling bit comes in. The answer is not too easy this time. The prize is certainly a big one, because if caught at the right time, the dollar might earn big money. However, if caught wrongly, how much more could it fall?

So the question is, are we facing the possibility of making a lot or losing a little. Put that way, it seems that the odds favour taking a chance with the dollar albeit, with your fingers firmly crossed.

If you are going to take a plunge, make sure you get the best attention and the best exchange rates. For this, make several calls to the various foreign currency exchange companies and select the one who offers the best deal. Almost without exception, they offer better exchange rates than the High street banks, and do not charge any extras.
They will not run away with your money, as they would have nowhere to run without being instantly caught. Your money is sent to their bank and transmitted directly and at once, to your bank.

These days, movements of funds are carefully noted, because of money laundering risks, and all British companies dealing with any money transfers etc., must be licensed by H.M. Revenue and Customs, and display the Registration Number issued to them, which can be easily verified. Similarly, other countries have their own precautions in place.

Paul Dubsky

Paul Dubsky is director of Foreign Currency Exchange Services Ltd. The company is focused on being able to offer really friendly currency exchange rates. We believe we are the only Foreign Currency Exchange company which offers special rates to Senior Citizens.

Many American investors bought foreign stock making profit as the dollar kept falling. Now they are selling some of the foreign investments. Is this the time side with the dollar?

Forming an Opinion Which Way Your Chosen Currency Might Go

2008-02-02T00:12:00.000Z

It is known that currencies react to a series of events such as inflation, interest rates, the state of the economy, and so forth. Because of this, it is vital to keep evaluating the various data, in order to form an opinion of the direction the currency of your choice might be heading.

Let us look at inflation and what it actually means. It is not about a particular model of a boat or a motorcycle, or certain services costing more money, which could be due to business enterprise success or failure, but about a widespread increase in prices throughout the country.

The rate of the inflation is based on a calculation of the average price change right across the economy. This is usually taken over a period of a year, hence the term annual inflation.

If there is an annual inflation rate for a particular month, say March this year of two per cent, it would mean that the prices in general were 2 per cent higher this March, than in the same month last year. Therefore, a blend of usually purchased items costing GBP100 last March, would be costing GBP102 this March.

To get the right reading, prices are taken all over the country in many sectors like the supermarkets, big stores, travel and insurance firms, etc.

There are other issues which set the level of inflation in the economy, but the fundamental causes of inflation have to do with the extent of demand in the economy, and can be narrowed down to how much cash can be spent in relation to what can be produced.

When demand shoots up above what can normally be produced in normal circumstances, this upward pressure creates a rise in costs and prices. When the demand is down, this creates a downward pressure in costs and prices. To keep inflation controlled, it is required to keep a balance between the demand and output situation. When you have an excessive demand to the supply position, you have a formula to generate an inflation climate. This is the reason for stability as a goal.

Lowering interest rates may well see a rise in output, but only for a limited period. If both demand and output have been strongly increased and then suddenly fall, it is called boom and bust.

It is also useful to keep an eye on the extent of the employment and unemployment figures. These can indicate the size of the economic movement as well as the weight of labour demand, increases of wages, and of prices.

Do not forget to take notice of the (CPI) Consumer Price Index which is an important measure of inflation.

Watch also the balance of trade situation. A trade surplus is a positive balance of trade, namely the exports are bigger than the imports, whereas a trade deficit is a negative balance of trade with imports being larger than exports.

There are a number of other points that can be looked into of course, but the main ones are important to keep in mind at all times.

A number of people follow the charts, and keep an eye on what the position was year after year.

There is no known magic formula as such, to positively determine the direction of any currency pair, but being informed as much as possible, goes a long way to narrow the odds against you.

Paul Dubsky

Paul Dubsky is director of Foreign Currency Exchange Services Ltd. The company is focused on being able to offer really friendly currency exchange rates. We believe we are the only Foreign Currency Exchange company which offers special rates to Senior Citizens.

Currency direction, the inflation rate, fundamental causes, the supply and demand consequences, consumer price index, employment and unemployment

More Words and their Meaning Relevant to the Foreign Exchange Scene

2008-01-29T23:07:00.000Z

There are many instances when we hear or read numerous words and phrases, but are rather uncertain of their exact meaning. The foreign exchange is only one part of the financial world of many sections, each of which seems to have its own expressions and jargon, as if it was all designed only for those with professional or specialised knowledge of the subject.

Of course, other trades have their own language, like the legal boys for instance.
It is not too difficult to get to know what it all means, and if one can learn some of the important words and expressions, it makes life that much easier.

Here are a few expressions you will run into, the answers to which you may find useful:

World Bank: The bank consists of IMF members, and helps by making loans to member countries, particularly when money from the private sector is not offered.

Bank Rate: This refers to the rate at which a central bank will lend to its domestic banks.

Basis Point: One per cent of one per cent

Cable: The foreign exchange market reference for the USD/ GBP

Consumer Confidence: This is an indicator of economic conditions run by the Conference Board. All over the country, some 5000 consumers are surveyed monthly, the degree of confidence being associated with the volume of consumer spending.

Covered Call: The Foreign Exchange Market uses this name for the rate USD/GBP

Cross Rate: This is a rate between two currencies of which neither is the USD

CHIPS: Clearing House Interbank Payments System.

Disposable Income: Money earned after tax.

Eurodollars: USD on deposit in a bank outside of USA.

LIBOR: London Interbank Offered Rate.

Liquid Assets: These are various assets which can be quickly converted into cash.

Easing: A price decline.

Economic Indicator: Data indicating economic growth, taking into account for example, retail sales, employment, rates, etc.

Liquidity: The competence of a market to undertake sizable transactions.
Resistance Level: A summit of a price level at which point the supply is greater than the demand.

Bull Market: A period of time when prices are seen to be rising.

Bear Market: A period of time when prices are seen to be falling.

Market Rate: Is the up- to- date quote of a currency pair.

Pip: refers to the 4th decimal point i.e.0.0001 of any foreign currency.

Fill Price: This is the price at which the order for buy or sell was executed.

Households Survey: The number of people that are employed, the labour force in general, and the rate of unemployment.

Paul Dubsky

Paul Dubsky is director of Foreign Currency Exchange Services Ltd. The company is focused on being able to offer really friendly currency exchange rates. We believe we are the only Foreign Currency Exchange company which offers special rates to Senior Citizens.

The foreign exchange world has certain expressions and words of its own. It is useful to know what they mean and some are explained for you to make life easier.

On Making Risk Less Risky

2008-01-23T00:14:00.000Z

Bearing in mind, that risk itself is similar to taking a journey towards a target you are not sure to reach safely, it is fair to assume that the less knowledge we have about a particular thing we wish to engage in, the greater the uncertainty we will face.

To get the odds in our favour to reach our goal successfully, we need to study the following four points first.

1.What could be a possible cause of derailment of our proposed investment.
2.What are the things that could stand in the way of reaching a successful outcome.
3.What are the valid arguments for, and against, the probability of success or failure.
4.What is the extent of our awareness of the risk we are taking, or are we making a decision under partial ignorance.

Applying these tests before making a decision is important. Since it not easy to know the answers to all the questions, many people do not bother and tend to be guided by their intuition.

To play the forex market by intuition, to back horses by intuition, to play in casinos by intuition, all this of course, is a formula for disaster.

If the more information we have about what we need to know provides a greater chance of success, then we must make it our business to get it. Knowledge and
information, are the odds you need in your favour. Whatever the investment, it is not prudent to make a decision under ignorance. If you cannot accumulate enough information about the investment you want to make, stay away from that deal and wait for another.

Of course, there are different types of investments, and therefore information and knowledge has to be pertinent to the particular investment.

If we are talking about horses racing, we would need to know about the state of the going, meaning does the horse like soft ground, or hard ground, does it run better on a left hand turn track or a right hand turn track, what distance is it best at, what draw has it got, who is the jockey, what opposition is it running against etc.

When we are talking about a football game, there are equally a series of questions that have to be answered. Are all the star players in the team, are they playing at home,
against whom are they playing, and so forth.

Playing the markets is a game based on a great deal of skill, but sometimes there are certain conditions which demand extreme caution, because any amount of skill can be derailed by events not always available for consideration in good time.

Currency markets are vulnerable to a large number of factors which must be taken into account, especially when volatile conditions are present.

One can either study the particular field, or be guided by experts and consultants who like some doctors, can be good, or extra good, but it is still better to take their advice than to do it alone. Of course if you only have a small cold, there is probably no need for a doctor. In the case of a major illness, you turn to the doctor. By the same ruling, if you invest very small money, you tend to use your own brains, but when playing in hundreds of thousands, it is prudent to seek the best help one can get, or certainly gather a great deal of knowledge and information before making a move.

By careful process in gathering as many odds in your favour before firing, you will find that things will turn out more profitable, and certainly less risky.

Precaution is an enemy of risk. Everybody knows that it is wise to take precaution, but not all take it. The few that do all they can, are wealthier and healthier, than the many who tend not to bother.

Paul Dubsky
Paul Dubsky is director of Foreign Currency Exchange Services Ltd. The company is focused on being able to offer really friendly currency exchange rates. We believe we are the only Foreign Currency Exchange company which offers special rates to Senior Citizens.

Some Knowledge On Having a Bank Account in France

2008-01-18T09:40:00.000Z

If you have a bank account in France, it may be advisable to note the following:

Never issue a cheque without sufficient provision in the bank to meet it. If the cheque is not met, the matter will be reported and the Banque de France can impose a ban called Interdit Bancaire. This means that for 5 years you would not be allowed to issue cheques.

Do not write open date or post dated cheques.
When paying by card in France you are using the ( CB ) Carte Bleu payment.

The savings account = compte d' epargne.
The long term savings account = compte d' epargne logement.
The tax exempt savings account = codevi
The current account = compte courante
An overdraft = decouvert
The clearance of a cheque = encaissment
The ATM machine = distributeur or guishet automatique
The balance = solde
The statement of account = releve de compte
The permission to debit your account the provider is asking = titre inter bancaire de payment ( TIP )
Interest rate = taux
Account holder = titulaire
Transfer of funds to some other account = virement
Detailed particulars of your account and bank = releve d'identite bancaire ( RIB )
Direct debit = prelevement automatique

If you are repaying a mortgage in France, make sure that you keep up the payments
in time. This applies also to any other loans you might have, because to get black listed does not take too long.

Mostly, foreigners who open a bank account in France are those who wish to buy a property there. It is imperative to have an account because there are so many things to be paid when one owns a house. Water, gas, electricity, not to mention other payments before one even moves in.

For instance, you must pay the French notary who deals with the matter of exchange of contracts as well as all the searches regarding the property. One must bear in mind that he does not work for the buyer or the seller, but works for the State. Never be late in paying him.

Still talking about money, it might be worth your while to give serious time to understand the French inheritance law. There is a big difference regarding this subject compared to other areas of the world, and before doing anything else, make sure you really study the situation.

Here is a list of some of the big banks in France: Le Credit Agricole, Banque, Populaire, BNP Paribas, Caisse d' Epargue, Credit Mutuel, Societe Generale, HSBC, Barclays.

Paul Dubsky

Paul Dubsky is director of Foreign Currency Exchange Services Ltd. The company is focused on being able to offer really friendly currency exchange rates. We believe we are the only Foreign Currency Exchange company which offers special rates to Senior Citizens.

Duck and Dive but Not with Borrowed Money

2008-01-14T01:10:00.000Z

For a currency deal you need a buyer and a seller. As soon as they do a trade, there will be a winner and a loser.

Let us take a Mr. Brown and a Mr Smith both residing in the U.K. thus their home currency being Sterling. They have enough cash funds on deposit with which they wish to trade. They will not need the money urgently, and can afford to wait for a substantial time should they be unlucky enough to hold a currency that might begin to depreciate.
Both are ducking and diving, happy to work on a small profit.

So, let us assume Mr. Brown bought dollars. To start with, the dollar appreciated against the euro and so he sold his dollars. Mr. Brown made a profit, probably a small one, but nevertheless a profit. He cashed in the profit he made, and he placed the balance of euros now held, on deposit to earn him interest.

On the other hand, Mr. Smith who bought euros is making a loss. However, at this stage he is only making a loss on paper, because he has not sold his euros as yet. He decides to hold on to the euros hoping they will appreciate, and waits. As it happens, the euro gains in value, and actually Mr Smith is now ahead. He waits a little longer to see if the euro will appreciate further, and there is another move up. This makes Mr. Smith decide to take a profit and he sells his euros. He cashes in his profit and the balance of the dollars he is holding, is placed on deposit to earn him interest.

But the currency market never sleeps and money values fluctuate all the time. Thus, from minute one of depositing their money, either Mr. Brown or Mr. Smith will see their euros or dollars in constant action, destined to go up or down in value. Again one of them will see his currency go up or down.

Because their home currency is GBP into which they eventually want to return, they are also watching the position of Sterling in relation to the two currencies they are holding.

Mr. Smith, who is in dollars, notices that Sterling is suddenly taking a heavy fall. He is now interested for Sterling go down more and more, because he can see his way out of trouble by changing his depreciated dollars into a possibly even more depreciating Sterling. Of course, if his dollar should appreciate and the Sterling slip further, he would sing all the way to the bank that much quicker.

It can be seen that it was not just a race between the dollar and the euro, but that due to a big wave, a third currency came suddenly into play throwing a lifeline to Mr. Smith.

Unexpected events are detrimental to some, but beneficial to others.
Often, taking little profits, it is thus possible to duck and dive especially if one is clever enough to notice when these small waves tend to occur, and therefore accumulate some nice money.

Of course abnormal conditions can arrive, as we have seen lately. All of a sudden it is not little waves, but huge waves that come. One extra large unexpected wave can do the damage. It is then, that the gain or loss to Mr. Brown or Mr. Smith can be heavy, wiping out swiftly any profits which one or the other might have accumulated over a lengthy period of ducking and diving. Naturally the lucky man holding the right currency is extremely pleased at that point.

Since it can take a longish time for the loser to get out of trouble before the cycle turns, he has to be prepared for it. For this reason, it is vital not to make investments of this kind with borrowed money, but only with money one can spare. To recoup in due course, one must be patient ad not be upset I having to wait.

When conditions are very volatile, it is dangerous but can be profitable. Not everybody dares to enter that arena. At the moment, the gentle opportunities of rocking up and down are hard to find, but not impossible, a lot depending on which currency one is holding.

In the currency game anything can happen, and it does.

It is strange, but when you desperately need to win, it will seldom happen. The time one wins, is when one is not desperate to win.

If you keep your head you can have plenty going for you in the foreign currency trading. The key is to play with your own money and not with borrowed money because you cannot be sure what will happen and when. There are chances of getting out of trouble when things go wrong if you have the time to wait. Sometimes a big wave can slow you down or help you, but if you are ready for the worst, the odds are you will survive and make money.

Impatient willy-nilly investors in this game do not last long. Patient ones can get out of trouble if under pressure, and fight on with good chances to do well in the long run.

Paul Dubsky

Paul Dubsky is director of Foreign Currency Exchange Services Ltd. The company is focused on being able to offer really friendly currency exchange rates. We believe we are the only Foreign Currency Exchange company which offers special rates to Senior Citizens.

A currency deal brings a winner and a loser, trade with money you can afford not with borrowed money, it is fine to take small profits but watch out for danger waves, only patient investors can survive.

Some Words and Some Knowledge Regarding the Foreign Exchange Market

2008-01-09T21:55:00.000Z

Whether you call it Forex or Fx, you are talking about the Foreign Exchange market. This is where the trading of currencies, one against the other, is done. To have an idea just how big the action is, add all the stock exchanges in the world together and the Foreign Exchange will still be bigger!

When you consider that various speculators, hedge funds, governments as well as companies, plus countless private investors who take part, it is hardly surprising that this market is so strong and that the estimated daily average turnover of the foreign exchange market is over 3 trillion US Dollars.

By far the most asked for rate is the SPOT RATE. This transaction has to be settled within two business days.

With London, New York, Tokyo, Frankfurt and Sydney as the chief trading centres, the action hardly ever closes.

When you are at an auction and you put your hand up, it means you are bidding for something at a certain price. In a similar way, the word BID refers to the price at which the buyer is prepared to buy the currency.

The OFFER means the price at which an amount of currency the seller is ready to sell.

A LIMIT ORDER is when you give instructions the buy or sell a currency at a predetermined exchange rate.

When international banks buy and sell between themselves, the bid and exchange rates are called INTER- BANK RATES.

The difference between the bid and ask price of a currency is the SPREAD.

STOP LOSS is when an order is given to purchase or sell a currency at a price level set by the client on a particular trade which if reached, will close out the particular position at the stated price.

TRANSACTION DATE is the date on which a foreign exchange trade is being done.

The date which foreign exchange contracts settle is called the SETTLEMENT DATE.

Every currency has a three letter code such as for the Euro (EUR), for the British Pound (GBP), for the US Dollar (USD), for the Japanese Yen (JPY), for the Australian Dollar (AUD), for the Swiss Franc (CHF), for the Canadian Dollar (CAD). Actually, these are the major trading currencies and all commonly traded currencies are called the MAJORS.

CABLE is a name given to the US Dollar/British Pound rate in the foreign exchange market.

EFT is the Electronic Fund Transfer which is the transfer of money between banks.

When there is a quote in currency pairs, remember that the first currency is called the BASE currency. The second currency is called the COUNTER currency. As an example when you get a quote GBP/USD at 1.96 it means that for one GBP you will get 1.96 USD. So for ten thousand pounds you will get nineteen thousand six hundred US Dollars.

The many foreign currency exchange companies which you can find on the internet will gladly give you a quote, and by phoning around you can find the best currency rates. They will be better than a high street bank is likely to offer and they will give you a very fast service. Furthermore, most of them will not charge you any commission or the cost of the electronic bank transfer.

Paul Dubsky

Paul Dubsky is director of Foreign Currency Exchange Services Ltd. The company is focused on being able to offer really friendly currency exchange rates. We believe we are the only Foreign Currency Exchange company which offers special rates to Senior Citizens.

The meaning of foreign exchange words, description of the forex market, the currency rates of the foreign currency exchange companies.

Keeping in Touch with Some Basics How Banks Operate

2008-01-05T18:43:00.000Z

There are some people who may wish to know a little about what banks are all about, especially when these financial institutions have had to swim in rather troubled waters just lately.

Banks are here to make money. It is hard to manage without them, and it is hard for them to manage without us. On the face of it, this looks like a marriage made in heaven. However, since all marriages are based on absolute trust and hate turbulent situations, and because these two features seem to be coming into play, it is not surprising that this is causing a certain amount of concern to depositors.

Basically, a client places money into his account. The bank will lend that money to other clients and make a profit on the deal. If the client banked say $10000, the bank can lend $90000 out because they must maintain a 10 per cent cash reserve ratio. In other countries, the cash reserve ratio requirement can be higher or lower. Any country can decide to alter the cash reserve ratio if needs be.

There is nothing to stop a bank to set aside more than the required minimum, meaning having excess reserves. It is not particularly rewarding for banks to do this, since they get no interest on that money, albeit they can channel it out on short and overnight terms to banks which need to maintain their minimum reserve ratio.

Getting back to that $90000 the bank can lend out, and let us say grant overdrafts but creating of course a liability factor, as the bank has to pay out whenever the various borrowers issue their cheques.

The position of the bank is that it has a total cash sum of $10000 received.
However, it has lent out deposits of totalling $90000. Add this together and you get a figure of $100000 representing total assets which are the $90000 in overdrafts plus the original $10000 cash received, which of course includes the required 10% reserve.

What took place is that the bank granted loans worth $90000 giving birth to money which did not exist before, based on the $10000 received in cash and locked in the safe.

People do not put in all the money on the same day, and they do not take out all the money on the same day. Cash in form of bank reserves is there to meet some withdrawals that may possibly be required. Banks have been managing quite well with small cash reserves in their safe, because they hold a number of liquid assets which they can sell for instant money. It is better for them to earn more money out of these liquid assets than having cash. Bankers are clever enough to know what kind of mixture of investments they should hold not to be caught with their pants down.

As well as lending money both short and long term, banks place investments in other areas. For instance, apart from the liquid assets, they can purchase long term government bonds and other securities. However, without cash reserves it is not possible to give birth to additional money unless breaking the rules.

Of course banking is far more intricate than that, but at least one can grasp some basics, and understand why, when a spanner is thrown into the works due to whatever reason, hiccups can follow.

Paul Dubsky

Paul Dubsky is director of Foreign Currency Exchange Services Ltd. The company is focused on being able to offer really friendly currency exchange rates. We believe we are the only Foreign Currency Exchange company which offers special rates to Senior Citizens.

Bank investments, the meaning of cash reserve ratio, concern for depositors, excess reserves, birth of money, liquid assets, government bonds.

Let Us Not Forget the Pendulum Factor of the Foreign Currency Exchange

2008-01-03T16:38:00.000Z

Last year is gone and buried. Many have seen better years and are anxious to see what will develop now.

A big percentage of investors in the foreign currency exchange game will be focused on two runners only, namely the US dollar and the euro. Of course, there plenty of other runners to select from, but those two are bound to be in the spotlight.

While the pendulum might still have a little room to go against the dollar, it is getting uncomfortably near the point of return when it starts on the swing back journey.

It is now, that it would be prudent to find the best foreign currency exchange company to select from. Quite a number are available on the internet. Find out who gives the best currency rates and get acquainted so that you can be ready to spring into action as the time is coming when things will start popping.

One thing you must remember about the foreign currency exchange companies, they are only too happy to see you make right decisions. They are not there in the role of a guesser, but as a tool for getting you the best currency rates as quickly as possible. If they were not good at it they could not survive.

To know the exact point of the pendulum return, it is necessary to be a clairvoyant. There is no clairvoyant who can give results before the event takes place, because there would not be any bookmakers left. I can confidently report, that there are plenty of rich bookmakers in the world.

So it boils down to taking a calculated risk as to when the pendulum will swing back.
Before taking such a risk, especially in the foreign currency exchange, it is prudent to have some odds in your favour.

Granted that the pendulum might have a little room left to keep going against the dollar, but at this stage of the game it takes a bold person to purchase euros at such a high price even if there could still be some room left for a profit. On the other hand, the dollar is cheap and when it comes to life, not if, there will be room for substantial gain.

Since the odds favour the fact that a pendulum has to swing back sooner or later, the answer is plain to see. Of course it takes nerve and courage, but those are necessary ingredients which point to big money.

Incidentally, the pendulum swings also when it comes to the property market. Make sure you are ready and in touch with a realtor you feel happy with. There are many good ones who have fantastic properties on their books right now.

It is worth mentioning that an analysis as to how most millionaires have amassed their fortunes in the past, shows that property was always the main factor.

The formula we are all aware of says buy cheap and sell high. It does not say buy cheapest and sell highest because there is no way to really know the cheapest and highest points.

I would say the important thing is to make the decision when the time looks good enough to spot a winner, and go for it.

I remember a friend of mine who, in his prayers, used to ask God to guide him to a winner and also asked him to make sure for it to be a big priced one!

Greed can often spoil the best of chances.

Paul Dubsky

Paul Dubsky is director of Foreign Currency Exchange Services Ltd. The company is focused on being able to offer really friendly currency exchange rates.

Foreign currency exchange, the swinging pendulum factor, the US dollar and the euro, foreign currency exchange companies, odds in favour, nerve and courage,realtors and fantastic property, purchasing at the right time, being greedy can be detrimental.

Greetings

2007-12-31T16:03:00.000Z

We wish all blog and website readers a Happy New Year and good luck in getting the best currency rates!

Paul Dubsky
Foreign Currency Exchange Services Ltd.

Some of the Roles the Official Bank Interest Rates Play

2007-12-29T22:34:00.000Z

The average person regards bank interest rates as a vehicle for making money cheaper when they go down, and making money more expensive when they go up.

People are mostly concerned about how much more or how much less they will have to find to for their mortgage and automobile payments, etc.

However, there are other roles the official bank interest rates play.

When a country increases its official bank rate, those with money on deposit earn more cash for it. It does not mean only the locals, but overseas investors start placing their money into that country as well. For that to happen, they are obliged to purchase the currency in question, which requires selling a currency they hold. It also means that those who were thinking about selling their domestic currency before the rate increase, may well change their mind since they would now hope to be able to earn more money by staying put.

Thus, a scenario might develop creating more buyers than sellers, prompting the currency to appreciate.

However, there are two sides to that, because the speculators might figure it may not be prudent to invest money into the country just because its interest rate was raised. They may interpret that situation in a different way, and have their own ideas about the position of that particular currency. Therefore, the currency which anyway might not have been the flavour of the month, can become the recipient of a rather negative sentiment, and consequently even start depreciating.

Every country needs to trade, and goods have to be manufactured and exported to earn foreign money. Of course to make things, you have to buy raw materials to make them. If your currency is weak, the raw material will become expensive since the foreign currency has to be bought to get that material. However, if your currency is too strong, the goods will be expensive to export.
.
Finding the right balance and not overshooting one way or the other takes time and particularly if a series of other factors keep coming into the equation, thus causing all sorts of volatility. As can be imagined, not many businesses are keen to se going on for too long.

The central banks purchase and sell currencies in order to keep things in some sort of shape they would like to see. These kind of treatments and interventions can push the value of the currency up or down for a certain limited time.

Being able to understand the full role of the official bank interest rates and the reasons for their introduction, can be of value for both the foreign currency and property investors.

If playing these markets, remember that to make a profit it is important to use the best tools for the job. In the case of foreign currency needs, the various companies that provide really excellent service offering cheaper rates than the high street banks do, can be found with ease on the internet. By phoning around, one can soon discover the best currency rates going.

In the case of property, approaching the realtors is cheapest in the long run. They know their business well, and will not get involved with properties which have minus points attached to them without letting you know all about it. Having lots of good properties on the market, they do not wish to get involved with problematic ones. Knowing what is good and what is not so good is worth plenty, particularly these days.

In conclusion and for your information, here are some official bank interest rates of the more important areas of the currency world:

Australia AUD 6.75 per cent, last change 6 Nov 07
The Reserve Bank of Australia next meeting 7 Feb 08

Canada CAD 4.25 per cent ,last change 4 Nov 07
Bank of Canada next meeting 22 Jan 08

European Union EUR 4 per cent, last change 6 June 07
European Central Bank next meeting 10 Jan 08

Japan JPV 0.50 per cent, last change 21 Feb 07
Bank of Japan next meeting 22 Jan 08

New Zealand NZD 8.25 per cent, last change 26 Jul 07
Reserve Bank of New Zealand next meeting 23 Jan 08

Switzerland CHF 2.75 per cent, last change 14 Sep 07
Swiss National Bank next meeting 13 Mar 08

United Kingdom GBP 5.50 per cent, last change 6 Dec 07
Bank of England next meeting 10 Jan 08

USA USD 4.25 per cent, last change 11 Dec 07
Federal Reserve next meeting 30 Jan 08

Paul Dubsky

Paul Dubsky is director of Foreign Currency Exchange Services Ltd. The company is focused on being able to offer really friendly currency exchange rates. We believe we are the only Foreign Currency Exchange company which offers special rates to Senior Citizens.

The role of the official bank rates, mortgage and auto payments and knowing the
official bank rate increase and decrease consequences. The need of purchase of foreign currencies, investment and payment for raw materials, the need to trade,
the need to find the right balance, Central bank intervention. The official bank interest dates of some important areas of the currency world.

Another Fine Mess We Are Facing and How to Get Out of It

2007-12-28T17:02:00.000Z

In the financial world, the safety belts are being fastened as we are getting sucked into storm conditions for starters, and tornadoes as the main course.

Those, holding vulnerable securities and burdened by other such exposures like holding the some depreciated foreign currency or property, will wish at the moment they rather invested in products like tranquilizers or worry beads.

I suppose that here is gold one could get into, but it is a bit late in the day for some people since the price is pretty high already.

If one has the patience to wait, currency and property usually regain lost ground in due course, and actually huge money has been made in selecting this type of investment at crucial times. It may be profitable to keep that in mind..

Therefore, the many who are stuck holding a depreciating foreign currency must hang on for their day to come. Those, who own a property also depreciating in value, face the same problem. Right now, the only loss they are facing is that they could have bought the foreign currency at a lower price, and that they could have bought their property at a lower price. However, that is a different kind of loss to the one they would have if they sold now. One is the loss of opportunity to buy cheaper, and the other is an actual money loss.

For those who are not involved in holding any depreciated investment, the chances of making money by exploiting some of the opportunities both existing and coming up, must be a rather pleasant thing to contemplate.

It may be prudent to study the property and foreign currency markets, in order to be ready to step in at any time.

With the currency or property business, it is possible to get into a minus position due to unexpected situations and many investors can get caught. However, it is not unusual to crawl out of trouble time and time again with a nice profit into the bargain, providing one does not give way to loss depressions. Keep cool.

There are a number of realtors, who are ready to show some terrific deals, and there are a number of foreign currency exchange companies well able to take care of their clients and offer them tasty exchange rates which most banks will not wish to match.

I have known smart operators who prefer to buy property when the prices are low rather than high. I also have seen many successful operators buying some currency that has been quite weak and not in much demand.

I wonder if that old famous formula they follow is the proven one of buying low, and selling high!

Paul Dubsky

Paul Dubsky is director of Foreign Currency Exchange Services Ltd. The company is focused on being able to offer really friendly currency exchange rates. We believe we are the only Foreign Currency Exchange company which offers special rates to Senior Citizens.

Stormy conditions in the financial world and how to get out of it. Depreciating foreign currency or property often regains in value and can make a profit. Buying low and selling high still work

Being a Calculated Risk Speculator or Just a Gambler

2007-12-26T01:29:00.000Z

He or she, who is known to gamble on horses, or dogs, or other sporting events etc., is often branded a persona non grata in certain circles.

However, if a person speculates on buying and selling securities, foreign currency, or property, their classification would point to a persona grata.

Both cases are of course a form of gambling dressed in different clothing. In both cases, there is a possibility of risk loss or the possibility of bigger gain. The need to arrive at an opinion without having positive evidence to back it up is equally there. So is the problem that complete facts are hardly ever disclosed, to enable the finding of a certainty.

In spite of these hurdles, in the case of property and foreign currency buying or selling, the chances of getting it right are better as opposed to finding the outcome of a horse or a dog race, or a football game. Getting involved is also less of a worry, because even if you get it wrong, you still have that house or that other currency you bought. The result is over only when you say, since these investments can eventually regain value, and actually show a profit. Backing losers in racing and other forms of gambling can mean that for the serious or occasional gambler, the money is dead and buried.

Of course, some gamblers attach a lot of importance to the thrill effect of their bets. There is no doubt that betting on sport events, cards, or many casino games can be thrilling, but so is the constant movement of the value of currencies. That wheel goes round and round nonstop, but you can get on and off whenever you like. There are many foreign currency exchange companies ready to let you operate, offering very good rates.

Never think of a bookmaker as an enemy whom you have to beat, your selection may be the one he also wants to win. Also, remember your foreign currency exchange office as a friend that makes it possible for you to play at good currency rates. You are putting your wits against a market that has no financial interest in your winnings or losses.

A realtor has equally no interest to see you lose any money. On the contrary, he likes you to be happy with the purchase of your property. Even if the prices should go against you, he knows that in due course things will change.

A speculator in the foreign currency game increases the chances of success by keeping in touch with as much relevant data as possible, which means that there is never a dull moment. The same applies to a property speculator. By having to constantly study the market and world affairs, the person becomes necessarily rather well read and interesting to talk to. Amongst other things, that gambler is a persona grata.

These days, more and more gamblers turn to the forex game. It keeps them amused as well as thrilled. Instead of a horse or a tennis star etc., they are the actual performer. There is little doubt that the well prepared person has the chance to prevail.
The currency market is not a geared slot machine. It has inexhaustible money to hand out if you get things right, and does not care if you keep winning, should you be clever enough.

Who knows, you might be champion material.

Paul Dubsky

Paul Dubsky is director of Foreign Currency Exchange Services Ltd. The company is focused on being able to offer really friendly currency exchange rates. We believe we are the only Foreign Currency Exchange company which offers special rates to Senior Citizens.

Being a calculated risk speculator or being just a gambler. Difference between a persona grata and a persona non grata. Property and foreign currency speculations are more secure propositions than a gamble on horses or such like. A loser can turn out a winner. The more you study the more chance to prevail.

Calculating the Probability and Possibility of Success of an Investment

2007-12-23T01:40:00.000Z

The probability of a specific outcome and presumption that the outcome result is measured in terms of the odds is fine providing the odds are the true odds.

The odds are numbers designed to show, what the speculator will receive for his outlay when betting on a certain event. It does not matter whether the event is a horse race, or price fluctuation on the foreign exchange currency market.

To be guided by odds formulated by bookmakers is to be guided by their necessity to balance their books because of the public weight of money invested for a particular result to happen. This is their key to the measurement of the odds.

To presume that odds formulated this way is a pointer to a winner is a delusion. Only true odds can do that.

So what are the true odds as opposed to just odds created by the market/bookmaker?

Supposing there is a horse running in a race which is called Father Xmas, and because it is Xmas time, a lot of people will back it, liking the name. Their money will create a demand, and the odds will shorten. These are not true odds representing the winning chance of the horse. These odds are market oriented odds which do not represent the actual capability of the selection.

So what are the true odds needed in your corner to point to achieving a good result?

It is the process of weighing up what will not happen rather than what will. Finding out the real form of the selection based on a series of past performances under various conditions and a host of other data will direct us in the right direction. It means engaging serious attention to any minute point and having the ability to go by that.

Applying this to foreign currency, means that one cannot be constantly under the spell of how the market behaves, but must take the numerous circumstances into account to form an overall picture.

There are times when governments support their currency which might appreciate as a result, but often only for a very short time. That sort of thing does not necessarily signal to buy that currency, and does not represent true odds. However, a temporary following of a trend can often be productive, and spotting it early can mean getting true odds in your favour.

Realizing that certain currencies tend to behave differently at holiday times is most important. Currencies even tend to behave differently at certain times of the day. Learning to spot this is helpful, and is a plus.

The days when certain important data is being released are imperative to bear in mind.
Also are the days, when important people are due to make a speech.

Negative news about the currency you wish to beat can be positive news for the currency you are holding.

Looking for the negative points about the currency you are opposing can be sometimes more productive than looking for the good points about the currency you are holding.

Ideal conditions are when the positive data lifts your currency, and the negative data drags down the other currency at the same time. Now, you are set to fasten your safety belt with great pleasure. That is also the time, when the foreign currency exchange game is like any other game, only more so.

I have often maintained that bookmakers seek to have the odds in their favour, and I do not know of any poor bookies. It is prudent to always follow their example.

The foreign currency market is very strong and full of players. There is never a shortage of money to take out for the well informed, and there is a bottomless black hole for the reckless punters to throw their money into, especially the ones with certain systems.

I used to know a fellow who rarely wrote letters home to his folks, but did send brief telegrams saying system going well please send more money.
Remember, that one of the odds in your favour is to deal with the foreign currency exchange companies who are cheaper than the high street banks. You can bet on that

Paul Dubsky

Paul Dubsky is director of Foreign Currency Exchange Services Ltd. The company is focused on being able to offer really friendly currency exchange rates. We believe we are the only Foreign Currency Exchange company which offers special rates to Senior Citizens.

Calculating the probability of investment success, what are the true odds and the false odds in your favour, market oriented odds, playing the forex, when to buy foreign currency, many things to take into account.

Look For The Best Deal, Save Big Money

2007-12-23T01:34:00.000Z

The average person's foreign exchange transaction is in having to change their currency into that of the country they wish to visit. This they do by going to the high street travel agent, Post Office, or bank. They do not worry too much about saving on the exchange rate for the relatively small amount in question.

There comes a time when they may wish to make a much larger transaction abroad such as buying a car or a boat, but mainly a house. This of course is a different cup of tea, and it is much cheaper to use the services of foreign currency exchange companies who can arrange cheaper quotes than the high street banks, therefore making it possible to save considerable money.

It is important to keep things simple and easy to understand.

Take an example of a Mr Smith wanting to buy a property in France. He needs to have a sum to cover the cost of the house and a sum to cover the other payments such as agent's fees etc. He adds it all up and comes to a total amount he will need to have in the foreign currency in this case the Euro. He has to get the required Euros. He now begins to realize that the price of the house also has a cost of the currency exchange rate to consider.

More than likely he will go to his bank to see what amount of Sterling they will require from him to purchase that foreign currency and send it to the seller. It is at this point he ought to be prudent. It is a good idea to go to the bank and get a quote as to how much it would cost to buy the required Euros and to have them sent to their destination. However, Mr Smith should spend a little time checking with some of the foreign currency exchange companies and get a quote from them too! Mr. Smith may find that he could save himself a nice few thousand because the rates that he could get will be undoubtedly cheaper than those from the high street bank. In short, a buyer like Mr. Smith might find the best way to proceed as follows:

1. Open a bank account in the country and place where he is buying the house. This is quite easy and the local estate agent will be pleased to introduce him to a bank.

2. Try to find the best currency exchange rate from the many companies that deal in foreign exchange. After finding the best deal, have the currency sent directly to his account at the bank abroad.

It is worth a few phone calls to very likely save big money. Currency rates change all the time and you have to bear that in mind, so the question is what is the percentage you would be charged above the live rates.

Live rates are easy to find free on the internet. You cannot get access to buy at these rates and there will always be a difference between the live rates and the rates you will get quoted. However, the degree of this difference is what you are after. It pays to check to find a good deal. To be fair you have to say what amount you are requiring to change because this may make a difference to the rate you will get. Obviously, if you are talking about ten thousand as opposed to hundreds of thousands this will count.

Money is sent by electronic transfer and banks charge for this usually between 25 and 35 pounds when sending money abroad bank to bank. The foreign currency exchange companies do not usually make a charge because they already calculate it within the rate of exchange in their quote, which is very fair since they will invariably give a better quote for currency rates than the high street bank who will charge the transmission cost as well!

Foreign currency exchange companies know that they are cheaper than the high street banks. Can you imagine that they could exist if they were not cheaper? Apart from that they are more focused on this type of business because they are specialists in this field.

When you go to a restaurant it is the chef that matters. When you go to a hairdresser it is the cutter that matters. When you go to a garage it is the mechanic that matters. With the foreign currency exchange companies you have personal attention to your particular needs by a specialist. Above all, you can save money.

Paul Dubsky

Paul Dubsky is director of Foreign Currency Exchange Services Ltd. The company is focused on being able to offer really friendly currency exchange rates. We believe we are the only Foreign Currency Exchange company which offers special rates to Senior Citizens.

Foreign currency exchange rates companies are cheaper than the high street banks. It pays to find the best deal. Because currency rates fluctuate, look for the percentage charged above the live rates to get your answer. Live rates are easy to find on internet.

Knowing Some Words Used in Electronic Money Transfers

2007-12-23T01:12:00.000Z

Electronic money transfers are not only used in connection with foreign currency exchange payments, but in a host of other payments especially when larger amounts are involved such as property, cars, boats, in fact anything.

Nowadays, EUROPEAN CROSS BORDER PAYMENTS are made easier for the parties to send, thanks to the use of IBAN which means International Bank Account Number for short.

IBAN is a bank code which identifies the account number and additional characters,
thus avoiding possible mistakes..

It must be noted however, that its validation is no guarantee that the account number or bank code is correct or that it exists.

It is the responsibility of the account owner to notify their IBAN to the party they wish to deal with.

The IBAN is given for the account by the bank serving that account, and should only be taken from that bank. It prevents getting possible incorrect IBAN details, as this can cause delay in receiving payment. Nobody wants any delays when making foreign currency exchange payments.

Companies dealing with international money transfers are very exact and are eager to change one currency against the other as fast as they possibly can, to complete the deal and show their clients how smoothly and quickly they perform.

The bank identification code BIC is another abbreviation, which you will come across.

BIC is a way of being able to identify financial institutions so that the process of telecommunication in financial institutions/banks is facilitated.

In order to make a payment, it is required to quote the IBAN and BIC. The use of IBAN became compulsory since July 2003.

Most people have heard of the abbreviation SWIFT, which stands for Society for Worldwide Interbank Financial Telecommunication

SWIFT is a global provider of secure financial messaging service. It is this service that foreign currency exchange companies use to move the money bank to bank. It is also the same service constantly used to move millions of pounds and other currencies by countless other financial institutions. It is fast and safe.

CHAPS or in short The Clearing House Automated Payment System is an electronic same day value payment in sterling, and within the United Kingdom.

It is to be remembered that banks make a charge for the electronic payment transfers.
In contrast, almost all foreign currency exchange companies do not make a charge for outward electronic payment transfers.

When making foreign exchange currency transfers you will simply need to fill in a form, which the company you select to do the business with will provide. The few above mentioned details, serve only to inform those, who wish to know what certain abbreviations actually stand for, plus a little explanation here and there.

Paul Dubsky

Paul Dubsky is director of Foreign Currency Exchange Services Ltd. The company is focused on being able to offer really friendly currency exchange rates. We believe we are the only Foreign Currency Exchange company which offers special rates to Senior Citizens.

Explaining about the meaning of several abbreviations used when wishing to transmit currency internationally or otherwise by way of electronic transfer. Explaining a little as to what are the roles and benefits of the systems used in electronic transfers of money.

Knowing Some Basics Concerning the Foreign Exchange Market

2007-12-23T01:08:00.000Z

We come face to face with our local money every day. The time will come when some of us will need to make or receive a payment in a foreign currency.

To jump this hurdle, we go to the bank to handle the currency exchange, or to a number of foreign currency exchange companies we can find on the internet, who will invariably quote far better rates of exchange. Believe me they will, they could not exist if they did not offer a better deal.

You do not have to be a mechanic to know some essential words about a car like the steering wheel, the hand brake, clutch pedal, the engine etc. But you do need to know these fundamental words to be able to understand what they refer to when becoming a car driver otherwise life would be hard.

Similarly, it is important to know a little about the foreign exchange market so that when the day comes and you will need to buy foreign currency to get that house of your dreams or anything else abroad, you are not at a disadvantage.

The FOREIGN EXCHANGE MARKET also called FOREX or FX, has no trading centre.

Unlike the London Stock Exchange or the New York Stock Exchange centres, it has no fixed abode, but manages very well and is extremely active.

There are hundreds of brokerage companies and banks, who deal between themselves including big corporations. Put these on one level. On another level, there are smaller agents who handle the buying and selling of the foreign currencies, going by the rates as signalled by Reuters or other agencies. These rates are aligned to the actual events taking place non stop in the market.
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The difference between these two levels is a wholesale and retail classification as existing in other trades. When the media talk about the foreign exchange market, it is the wholesale level they refer to.

Foreign exchange currency institutions have better access to obtaining a more advantageous rate of exchange than the ordinary small company or the man in the street.

The foreign exchange market operates 24 hours per day.

BID is the rate at which a dealer is ready to purchase the base currency.

OFFER is the rate at which the dealer is ready to sell the basic currency.

The difference between the BID and ASK price is called the SPREAD.

The MARKET MAKERS make the profit from the spread. They make no commission.

BASIC CURRENCY is the currency against which the other currencies are quoted.

BULL MARKET refers to a price rising market.

BEAR MARKET refers to a declining price market.

BOTTOM: a description of a price decline meeting heavy support against further price decline.

CABLE: When the steel cable was connected under the Atlantic in 1850 thus linking USA with UK enabling telegraph transmission between the London and New York Exchanges, it was called ATLANTIC CABLE. Satellite and optic cables are now used, and the word CABLE refers to GBP/USD currency pair rate.

CROSS RATES: This refers to currency pairs where the USD is not included like GBP/EUR or GBP/JPY

MARGIN refers to a deposit in cash required to cover the possibility of loss the client may encounter trading the foreign exchange.

MARGIN CALL refers to a requirement for additional money, to make up the minimum cash deposit needed to cover any losses the client may encounter trading in the foreign exchange market.

VOLATILITY refers to the extent of price fluctuation.

There are of course, many more terms used in the foreign currency business, but you have here a selection which will help you to know some of the basics.

Good luck.

Paul Dubsky

Paul Dubsky is director of Foreign Currency Exchange Services Ltd. The company is focused on being able to offer really friendly currency exchange rates. We believe we are the only Foreign Currency Exchange company which offers special rates to Senior Citizens.

Summary of the basic terms used in the foreign currency exchange market, for those who will one day face the need to buy or sell foreign money.

Forget the Soft Landing, Aim for High Altitude

2007-12-23T01:01:00.000Z

There is an element of a gamble in whatever we do. Whether it is buying foreign currency or property, crossing the road, driving a car, betting the horses, or even getting married!

In each case, the aim is to be a winner and successfully accomplish the task aimed at. Yet many think, that it is not what you win, but what you do not lose as the best policy to follow.

Applying this attitude to foreign currency buying or property acquisition is fine if you belong to the dilly-dally brigade who wait for the best time to act. The trouble is that to them, like to an old spinster, the best time always arrives too late.

A friend of mine plays the horses. As soon as he places a bet he is convinced he backed the wrong horse. After losing a couple of times, his only concern is to try and get his money back. The soft landing plan comes into operation, and any thought of a will to win is not even contemplated.

Nobody is perfect, and nobody can be a winner all the time. When under pressure, with luck not in your corner, it is imperative to start again and build what might have been damaged, by taking proper advice to get out of trouble.

The realtor knows the property game and will guide you to find the right house for you quicker than you are likely. The foreign currency exchange office will strive to get you the best currency rates. Like for a good football team, it needs a good manager and this is the key to making money. Successful people do not wait too long for things to happen. More often than not, they make them happen by selecting the right people to help.

To be adventurous may not be always prudent, but being inactive and drifting with the tide, is an unlikely way to reach the road to riches particularly in the currency and property business where usually substantial amounts of money are involved.

Taking action when things look tricky, often made millionaires. Somehow, there seems to be an air of opportunity looming in the shadows for the currency and the property trade especially in USA, with the dollar low to a basket of currencies like the pound, and the housing so attractively priced, albeit that on paper it may not look quite that way right now.

But then, how many times have we heard people say they wished they had the pluck to step in at a time when buying looked so attractive but missed the bus!

Paul Dubsky
Paul Dubsky is director of Foreign Currency Exchange Services Ltd. The company is focused on being able to offer really friendly currency exchange rates. We believe we are the only Foreign Currency Exchange company which offers special rates to Senior Citizens.

Buying property or foreign currency and not waiting too long to miss good
opportunity. Being in good hands with realtors and foreign currency companies who know their business well.

Recognizing Good Opportunity and Seizing It

2007-12-23T00:51:00.000Z

This formula is especially important when dealing with the foreign currency exchange and real estate business. There comes a time when it is prudent to buy and when it is prudent to sell. There is not much point in making a deal to fly on a wing and a prayer.

It takes lots of patience and courage to focus on a good proposition and back it with money. The key is to start with the odds in your favour. For instance many Brits for whom the property has risen to unbelievable heights are coming to a conclusion that there is a fresh opportunity to make money on the horizon
Sell your property high in Britain while you can, and buy property low in USA while you can.

On the face of it, there certainly seems a lot going in their favour. Not only is property in America offered at mouth watering prices, but you get over two dollars
for one pound which makes it a win double. Add to this, the possibility that in due course the situation could turn seeing the property prices go down in the U.K and rise
in the USA., you could see a real ball game!

If you are one of those people who are thinking of buying a property in America, of course having the odds in your favour is not just in buying a property right, equally important in buying your foreign currency at the best rates. The price of purchasing your dollars makes the price of the property that much cheaper. Many people already know that the high street banks do not offer as good foreign currency rates as nearly all foreign currency exchange companies do. Some buyers still have to find that out for themselves and the easiest way is to phone around and secure the best foreign currency rate on offer. Remember you are buying money, not a car or boat or a gold watch. You are not getting something which is nicer or faster, lighter or heavier. You are buying money, so get it at the best price you can! There are many foreign currency exchange companies ready to help and give free quotes. Some may be cheaper than others, so it is up to you to find the best deal to suit you. That is the correct way in any business.

Getting the odds in your favour also means selecting a real estate company that you feel comfortable with, meaning one that has the suitable people to explain the many things you have to know before and after you buy. But then, U.S. realtors are well known to be very helpful and friendly and before you know it, you would all be on first name terms.

Talking about friendly and helpful people, they do not come any better than the ones running the foreign currency exchange companies. Straight away you will feel you are not a number but a person who is important to them.

Finally, it is well to note that good luck has nothing to do with good odds. You generally make your own luck by making the right decisions as far as getting the odds in your favour. Bad luck is slipping on a banana skin, whilst good luck is in avoiding to step on it in the first place. So when you see a good opportunity, go for it when the odds are in your favour, bearing in mind that one of the ways in keeping them there, is watching out for even the minor negative things along the way. Everything counts.

Paul Dubsky

Paul Dubsky is director of Foreign Currency Exchange Services Ltd. The company is focused on being able to offer really friendly currency exchange rates. We believe we are the only Foreign Currency Exchange company which offers special rates to Senior Citizens.

Recognizing a good opportunity and seizing it but keeping the odds in your favour. Time may be right to buy property in USA and sell in Britain. Sell high in England buy low in USA. With rates still at over two dollars to the pound this looks attractive to the Brits. One day the market could turn the other way round giving fantastic opportunity to make huge profit.