Forex Made Easy » bank

Is it possible for the US economy to ever recover with the federal reserve as our central bank?

admin — Tue, 20 Mar 2012 12:48:12 +0000

Question by : Is it possible for the US economy to ever recover with the federal reserve as our central bank?
How can the economy Truly recover if we are not trading a sound currency? Wont debt and inflation continue to raise with the printing of money? Really makes ya think…is it all set up to fail?
How can you Say the federal reserve notes are sound, when they have no substance to back it up? the notes are Only worth the paper they are printed on.

Best answer:

Answer by T-Bone
What makes a sound currency, though? Ultimately, a sound currency is one that is widely accepted by people for the settlement of transactions. The US dollar is the most widely traded currency in the world, and is the de facto reserve currency of most of the world’s nations. US treasury bonds are still seen as the most stable of investments by bankers, institutional investors, and governments.

The Fed has done a great job keeping the money supply and the rate of inflation balanced. The Federal Reserve backed US dollar is a sound currency by any measure, no matter what RON PAUL says.

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Q&A: Can I make a Paypal without a bank account?

admin — Thu, 15 Mar 2012 20:49:46 +0000

Question by steven n: Can I make a Paypal without a bank account?
Just need one for online currency trade basically, is there a way to make one without having a bank account? and if so, is there a way to deposit money into it without having a bank account, like a pre-paid card? Sounds stupid, but maybe there is.. lol

Best answer:

Answer by Lord Nagafen
no , you can’t

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Do I need an account with Bank of America in order to exchange foreign currency at one of their locations?

admin — Mon, 05 Mar 2012 20:49:49 +0000

Question by Victoria’s Secret Angels: Do I need an account with Bank of America in order to exchange foreign currency at one of their locations?
Do I? I have several thousand Mexican Pesos that I want to exchange for US dollars, but do I need an account with them? Can I Just go into a Bank of America location and trade my money?

Best answer:

Answer by Hollywood Princess
Bank of America charges a fee for check cashing if you do not have an account there, so they might take a percentage to trade them in, but they may not, might just want to go in and ask or call their toll free number.

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Q&A: How does a bank get new currency?

admin — Sun, 04 Mar 2012 08:46:55 +0000

Question by OPE: How does a bank get new currency?
I assume they have to buy it? A one-for-one trade? I wonder what the lead-time on bills is! Also- the government has to give vendors a sample, right? So they can program their machines to accept the nw bills? How does that work?

Best answer:

Answer by Aloysius
the government sanctions it and their printing presses make the bills/coins with the year on it and any other changes thats all there is to it.

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How do I trade in my bank notes for gold currency?

admin — Tue, 21 Feb 2012 04:47:38 +0000

Question by chefjosh87: How do I trade in my bank notes for gold currency?

Best answer:

Answer by Alex C
You cannot do this any longer as no country is on the gold standard reserve currency.

To attain gold you must buy it.

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Q&A: Trying to convert currency from US dollar into Israeli shekels. not going to Israel, HORRIBLE bank rates, help?

admin — Wed, 14 Dec 2011 06:29:22 +0000

Question by zzzzzzzzz: Trying to convert currency from US dollar into Israeli shekels. not going to Israel, HORRIBLE bank rates, help?
I am trying to convert about 610$ into Israeli shekels to protect against devaluation. I have checked around on yahoo answers and they all say convert when you go to Israel, but I am not going to Israel. I am not trying to play the currency game, I have never done currency trading before but I am trying to protect myself. What is the best way get shekels in the US? I checked online (Forex, XE, etc) exchange rates are 1$ = 3.5 shekels (average) I tried to go to the bank (Its Chase I have a account there and they said they will not charge me ) and the exchange rate there is 1$ = 3.05, ouch. the shekel-dollar converter is 0.33$ while online rates are 0.28 cents. I wish I had some shekels on me already

At the bank I was only going to get 1800 shekels (it was 1800 even, I think they are skimming money off the top the money didn’t match the 3.05) instead of 2100 shekels. and they spelled it sheqels instead of shekels. somebody was there who hadn’t done this before; maybe the messed up, but the machine showed Israel sheqels N

my questions
1. what is a good conversion rate.

2. where can I find that rate.

3. any other fees involved that I should look out for.

thank you for your help and sorry about the poor grammar
gotchya on the exchange rate thing, I thought that the fee was charged as a percent of total money converted. I kinda thought $ 500-$ 3000 was the norm as far as currency exchange, I don’t know a lot of people with $ 10,000+ who are not investors. with the Israel thing I don’t pretend to be a expert but wasn’t that a different currency dealing with inflation? like the old shekel or something.

If I am trying to counteract inflation what would you opinion be on what to buy with that money. I am not buying a third of a ounce of gold but any other ideas would be appreciated.

note: I will be away and will not respond for another 6-24 hours, I’m not dissing anyone
gotchya on the exchange rate thing, I thought that the fee was charged as a percent of total money converted. I kinda thought $ 500-$ 3000 was the norm as far as currency exchange, I don’t know a lot of people with $ 10,000+ who are not investors. with the Israel thing I don’t pretend to be a expert but wasn’t that a different currency dealing with inflation? like the old shekel or something.

If I am trying to counteract inflation what would you opinion be on what to buy with that money. I am not buying a third of a ounce of gold but any other ideas would be appreciated.

note: I will be away and will not respond for another 6-24 hours, I’m not dissing anyone

Best answer:

Answer by Matt
Why on earth would you want to do this?

First off, currency trading small amounts is going to eat you alive because you are paying broker fees both ways, even if it is not a flat fee. The spread between what you see on line and what the bank is paying is that fee.

Then you have inflation. consumer inflation is pretty similar between the US and Israel now, but historically, Israeli inflation has been off the charts. If it spikes again, then you are going to be losing serious money (though with only 610 at play, there is only so much you can lose). Do you really think that the Israeli government is a better long term bet that the US government?

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How can i open a bank account in another country for stock and forex trading? (non-resident)?

admin — Sat, 10 Dec 2011 02:25:12 +0000

Question by Saif Tauheed: How can i open a bank account in another country for stock and forex trading? (non-resident)?
how can i open a bank account in another county for forex and stock trading! I am an indian here fx trading is illegal so I am looking for some countries that offer to open bank account without being the resident ir even staying at that country and i need to trade and invest from that bank account and do all the transcations from that account, please let me know if it is possible?

Best answer:

Answer by Raysor
The FX dealer will usually have facilities.

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What bank in tulsa can you trade currencies?

admin — Fri, 09 Dec 2011 09:29:12 +0000

Question by Night Rider: What bank in tulsa can you trade currencies?
I am going to trade my $ to Does the bok bank in downtown offer currency exchanges?

Best answer:

Answer by thecharleslloyd
All of them will change your money.

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Where can I trade in currency from Central Bank of Bahrain and Bank Negara Malaysia?

admin — Sun, 20 Nov 2011 15:29:07 +0000

Question by Top Notch: Where can I trade in currency from Central Bank of Bahrain and Bank Negara Malaysia?
My brother was in the army and brought me money from places he’s been so I can see what it looks like and I was wondering where can I trade the money in at for USD? I live in Bakersfield, California…

Best answer:

Answer by _
visit the website of the embassy of Bahrain : http://www.bahrainembassy.org/

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when one opens a forex trading acct. who is the market maker for the currency pairs, the bank that the trading

admin — Fri, 18 Nov 2011 00:29:11 +0000

Question by michaelpc12: when one opens a forex trading acct. who is the market maker for the currency pairs, the bank that the trading
does business with or is it a whole system of average prices for the currencies in question

Best answer:

Answer by StopSpending
Can’t say in general, but it’s clear that you trade only with Deutsche bank if you use their service.

“3. PRICES AND OPEN POSITIONS

3.1 We will provide you with “bid” and “offer” prices in respect of currencies through our Trading Station or Dealing Desk. The prices that we quote are determined by us and usually represent a mark-up or markdown of inter-bank dealing rates. Each price shall be effective and may be used in a dealing instruction prior to the earlier of its expiration time and the time, if any, at which it is otherwise withdrawn by us. A price may not be used in a dealing instruction after such time. Each price shall be available for use in a dealing instruction for a transaction with a principal amount not to exceed a maximum determined by us. You acknowledge that these prices and maximum amounts may differ from prices and maximum amounts provided to other customers of ours and may be withdrawn or changed without notice. We may in our sole discretion and without prior notice to you immediately cease the provision of prices in some or all currency pairs and for some or all value dates at any time.”

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