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qwertyu2
Joined: 13 Mar 2012
Posts: 93
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 Posted: Tue Jan 08, 2013 5:07 pm Post subject: Re: Japanese YEN at 27-month low. The right time to purchase |
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| stumptowny wrote: |
no checking account? what kind of account do I need for online transfers? any charges with that account type?
sounds great. a saved trip does mean a lot. its not the trip as much as the waiting that kills you at jp post. jppost is everywhere. it's their anality for detail that get you... the women yesterday was taking a while then gets up to ask for help in the back... I went to the 100yen lawson for grocery's and came back.. I have learned.. |
I opened my account via the internet, phone, and mail. If one goes to a branch office to open the account there will be a monthly charge, but no such charge if done by mail/online.
When you get the application packet there are various account options. I called their representative on the phone and explained what I wanted (direct depost, dollar/yen savings, foreign cash withdrawls) and they walked me through which accounts to apply for. Going through the mail took some time, but the process itself was pretty basic. There was a second round of paperwork to register the US bank account I planned to transfer money into, but that was also fairly straighforward.
https://www.citibank.co.jp/en/banking/ |
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stumptowny
Joined: 29 May 2011
Posts: 310
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| Posted: Wed Jan 09, 2013 5:28 pm Post subject: Re: Japanese YEN at 27-month low. The right time to purchase |
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| qwertyu2 wrote: |
| stumptowny wrote: |
no checking account? what kind of account do I need for online transfers? any charges with that account type?
sounds great. a saved trip does mean a lot. its not the trip as much as the waiting that kills you at jp post. jppost is everywhere. it's their anality for detail that get you... the women yesterday was taking a while then gets up to ask for help in the back... I went to the 100yen lawson for grocery's and came back.. I have learned.. |
I opened my account via the internet, phone, and mail. If one goes to a branch office to open the account there will be a monthly charge, but no such charge if done by mail/online.
When you get the application packet there are various account options. I called their representative on the phone and explained what I wanted (direct depost, dollar/yen savings, foreign cash withdrawls) and they walked me through which accounts to apply for. Going through the mail took some time, but the process itself was pretty basic. There was a second round of paperwork to register the US bank account I planned to transfer money into, but that was also fairly straighforward.
https://www.citibank.co.jp/en/banking/ |
much appreciated! I will look into it when my money boner fades.. I am in the midst of a wicked run in my FB stock.. the author of this topic made %15 in a year changing currency.. all good though I am up that in 7 days... glad I am not stuck waiting for the yen to move around... cheers qwerty |
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qwertyu2
Joined: 13 Mar 2012
Posts: 93
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| Posted: Wed Jan 09, 2013 11:23 pm Post subject: Re: Japanese YEN at 27-month low. The right time to purchase |
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| stumptowny wrote: |
| much appreciated! I will look into it when my money boner fades.. I am in the midst of a wicked run in my FB stock.. the author of this topic made %15 in a year changing currency.. all good though I am up that in 7 days... glad I am not stuck waiting for the yen to move around... cheers qwerty |
It's not so much waiting for the yen to move around as getting out while the getting is still good. |
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thomthom
Joined: 20 May 2011
Posts: 125
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| Posted: Thu Jan 10, 2013 10:23 pm Post subject: |
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| Huge drop in the Yen over the last 12 hours. It seemed mid-week that it had reached its lowest and started to rise... but now it's down to almost �144 to �1 and still falling. |
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stumptowny
Joined: 29 May 2011
Posts: 310
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| Posted: Fri Jan 11, 2013 3:04 am Post subject: Re: Japanese YEN at 27-month low. The right time to purchase |
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It's not so much waiting for the yen to move around as getting out while the getting is still good.[/quote]
no, it's the waiting when there's lots of money to be made elsewhere. 15% in a year is still solid. pulling the trigger on something as slow moving as the yen is not exactly confronting fear and greed like a day trader exiting a position... |
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qwertyu2
Joined: 13 Mar 2012
Posts: 93
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| Posted: Fri Jan 11, 2013 4:52 pm Post subject: Re: Japanese YEN at 27-month low. The right time to purchase |
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| stumptowny wrote: |
| no, it's the waiting when there's lots of money to be made elsewhere. 15% in a year is still solid. pulling the trigger on something as slow moving as the yen is not exactly confronting fear and greed like a day trader exiting a position... |
I'm not sure what you mean by waiting. I've been transfering yen out of my account almost as fast as my employer deposits it. Other than living expenses, I really don't see any reason to hold yen. It's not like I'm going to get anything by keeping it in the bank. |
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rxk22
Joined: 19 May 2010
Posts: 1629
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| Posted: Sat Jan 12, 2013 4:33 pm Post subject: Re: Japanese YEN at 27-month low. The right time to purchase |
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| qwertyu2 wrote: |
| stumptowny wrote: |
| no, it's the waiting when there's lots of money to be made elsewhere. 15% in a year is still solid. pulling the trigger on something as slow moving as the yen is not exactly confronting fear and greed like a day trader exiting a position... |
I'm not sure what you mean by waiting. I've been transfering yen out of my account almost as fast as my employer deposits it. Other than living expenses, I really don't see any reason to hold yen. It's not like I'm going to get anything by keeping it in the bank. |
Very true. Though bank interest rates have sucked for a good long time. Japanese bank interest rates are absurdly close to 0 |
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currentaffairs
Joined: 22 Aug 2012
Posts: 828
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| Posted: Wed Jan 16, 2013 6:39 am Post subject: |
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| Personally, I think the Yen will go to 170-180 to the pound. It was always artificially low at 130-140. I remember back in 2008 it was up to 240 to the pound, so it is now balancing out. |
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thomthom
Joined: 20 May 2011
Posts: 125
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| Posted: Thu Jan 17, 2013 12:38 am Post subject: |
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| currentaffairs wrote: |
| Personally, I think the Yen will go to 170-180 to the pound. It was always artificially low at 130-140. I remember back in 2008 it was up to 240 to the pound, so it is now balancing out. |
�240 to �1? Jesus. I googled the historical exchange rates to even see if that were true. And it was. I'm no economist, but surely that must have been due to the convergence of a very strong pound and very weak yen, before the global economic crisis. The pound and the UK economy are so weak today. |
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rxk22
Joined: 19 May 2010
Posts: 1629
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| Posted: Fri Jan 18, 2013 1:56 am Post subject: |
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| thomthom wrote: |
| currentaffairs wrote: |
| Personally, I think the Yen will go to 170-180 to the pound. It was always artificially low at 130-140. I remember back in 2008 it was up to 240 to the pound, so it is now balancing out. |
�240 to �1? Jesus. I googled the historical exchange rates to even see if that were true. And it was. I'm no economist, but surely that must have been due to the convergence of a very strong pound and very weak yen, before the global economic crisis. The pound and the UK economy are so weak today. |
oh it was nuts. Had an English friend. To him Cigarettes were something like a quarter of the price. |
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OneJoelFifty
Joined: 06 Oct 2009
Posts: 463
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| Posted: Fri Jan 18, 2013 3:38 am Post subject: |
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| rxk22 wrote: |
| thomthom wrote: |
| currentaffairs wrote: |
| Personally, I think the Yen will go to 170-180 to the pound. It was always artificially low at 130-140. I remember back in 2008 it was up to 240 to the pound, so it is now balancing out. |
�240 to �1? Jesus. I googled the historical exchange rates to even see if that were true. And it was. I'm no economist, but surely that must have been due to the convergence of a very strong pound and very weak yen, before the global economic crisis. The pound and the UK economy are so weak today. |
oh it was nuts. Had an English friend. To him Cigarettes were something like a quarter of the price. |
That was when I came to Japan (from England) for a three week holiday. I returned home with amazing stories of the nomi- and tabe-hodai prices, preaching the gospel of karaoke. Ah, those were the days. |
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qwertyu2
Joined: 13 Mar 2012
Posts: 93
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| Posted: Sat Jan 19, 2013 2:55 pm Post subject: |
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| OneJoelFifty wrote: |
| That was when I came to Japan (from England) for a three week holiday. I returned home with amazing stories of the nomi- and tabe-hodai prices, preaching the gospel of karaoke. Ah, those were the days. |
I think we'll be seeing those days again. When we do the important thing will be to have some sort of income stream outside the yen. |
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rxk22
Joined: 19 May 2010
Posts: 1629
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| Posted: Sun Jan 20, 2013 9:05 pm Post subject: |
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| OneJoelFifty wrote: |
| rxk22 wrote: |
| thomthom wrote: |
| currentaffairs wrote: |
| Personally, I think the Yen will go to 170-180 to the pound. It was always artificially low at 130-140. I remember back in 2008 it was up to 240 to the pound, so it is now balancing out. |
�240 to �1? Jesus. I googled the historical exchange rates to even see if that were true. And it was. I'm no economist, but surely that must have been due to the convergence of a very strong pound and very weak yen, before the global economic crisis. The pound and the UK economy are so weak today. |
oh it was nuts. Had an English friend. To him Cigarettes were something like a quarter of the price. |
That was when I came to Japan (from England) for a three week holiday. I returned home with amazing stories of the nomi- and tabe-hodai prices, preaching the gospel of karaoke. Ah, those were the days. |
Haha, I guess that is what it was like to be an American in the 1950's. Everything is just so cheap! I missed out on those days, and not having any Pounds either  |
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qwertyu2
Joined: 13 Mar 2012
Posts: 93
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| Posted: Thu Apr 04, 2013 4:13 pm Post subject: |
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| So, how did that whole "buy yen" in Dec. 2012 thing work out? |
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teacher4life
Joined: 22 Apr 2012
Posts: 121
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| Posted: Mon Apr 08, 2013 12:43 am Post subject: |
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| YEN COLLAPSE IMMINENT! SELL YOUR YEN TODAY, EVEN IF YOU HAVE TO BUY ZIMBABWE DOLLARS! |
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