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Korean Job Discussion Forums
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TheUrbanMyth
Joined: 28 Jan 2003
Location: Retired
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 Posted: Fri Nov 28, 2003 8:46 pm Post subject: |
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| Manner of Speaking wrote: |
I hope the won DOES tank. A year ago I put $5000 worth of won into a Canadian dollar bank account, so I have loonies if I need them. I don't send any money home, so it doesn't hurt, and if it does, the country'll clear out and I'll have LOTS of new job opps.  |
If the won does tank though, those lots of new job opps will disappear. And too many people are here because they couldn't get anything better. They're not going anywhere. See "Illegal teachers" thread |
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funplanet
Joined: 20 Jun 2003
Location: The new Bucheon!
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| Posted: Sat Nov 29, 2003 10:44 pm Post subject: |
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Yep, GMAT and RR are correct concerning the Chinese Yuan...I have a nice chunk sitting in the Bank of China and am waiting for the day for the Yuan to be "untied" and allowed to float....the Chinese are hoping for a historical free float of between 6.5 to 5.2 Y to the $...all indications are that it will settle in that range...even if it settles at 7Y to the $ I will make a NICE PROFIT....
I have been speculating with the Euro and am ready to cash in a very healthy profit with it just passing 1.20E to the $....hehehehe...laughing all the way to the bank so to speak... |
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Manner of Speaking
Joined: 09 Jan 2003
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| Posted: Sun Nov 30, 2003 2:29 pm Post subject: |
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| TheUrbanMyth wrote: |
| Manner of Speaking wrote: |
| I hope the won DOES tank. A year ago I put $5000 worth of won into a Canadian dollar bank account, so I have loonies if I need them. I don't send any money home, so it doesn't hurt, and if it does, the country'll clear out and I'll have LOTS of new job opps. |
If the won does tank though, those lots of new job opps will disappear. And too many people are here because they couldn't get anything better. They're not going anywhere. See "Illegal teachers" thread |
The illegal "teachers" will be the first ones on the plane because the ONLY reason they are here is for the money. And, like the last currency crash, a lot of Koreans will come home to study English from abroad, because they can no longer afford to be overseas. I wish I had stayed here during the last currency crisis, I would have been better off.  |
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coolsage
Joined: 28 Jan 2003
Location: The overcast afternoon of the soul
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| Posted: Mon Dec 01, 2003 7:12 am Post subject: |
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| Correct me if I'm wrong, but as I understand the tax laws in Canada, if you invest money earned overseas in Canadian RSP's, stocks, etc.. you are liable for Canadian income tax rates on that income earned overseas. Does anyone have more current info on this? This goes to 'non-resident status'. The rules change, and our friendly Embassy is not helpful on this one. |
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gmat
Joined: 29 Jan 2003
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| Posted: Mon Dec 01, 2003 7:25 am Post subject: |
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Well done, funplanet
Yes, now is the time to load up on Chinese assets, (with the possible exception of the Shanghai real estate market which could be a little too risky for some people).
Did/Do you work in China? |
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RR
Joined: 28 Jan 2003
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| Posted: Mon Dec 01, 2003 6:13 pm Post subject: |
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RR's Quote:
My prediction is the Yuan will be raised, or floated, no sooner that 2 years from now, and probably a lot longer.
On what do you base your prediction? Rigorous empirical analysis, sound understanding of the fundamentals, or your hazy recollection from some media reports? |
Chill out loser boy, it is just an ESL forum.... no one is claiming to be an economist.... relax..
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RR's Quote:
Do you know that it is the stated, public policy of the US Fed. Bank to push the dollar lower?
Please... |
This is a known fact. I have read it in the Economist and in the NY Times.
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RR's Quote:
As for Canadians, Austalians, NZ's, all 3 countries have had historically weak currencies for like 5-10 years now.....
Do explain. |
Those currencies have been at historic lows to the dollar over the last ten years or so..... that's all I meant.
Can't speak for JaeBae... but man Basil.... look into lithium
RR |
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jaebea
Joined: 21 Sep 2003
Location: SYD
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| Posted: Mon Dec 01, 2003 11:17 pm Post subject: |
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I'm guilty as charged, but before I die quietly...
Sorry for speaking my mind, but RR and I were just talking and speculating.. and after all, isn't that what money markets are all about?
I'm not speaking from of any real authority, I'm just talking up what *I think* would/should happen.
Now whether or not it will happen is completely out of my hands, but will my 2c influence others? I doubt it. Pretty much everyone here takes what's said with a grain of salt, and I'm quite sure no-one will bank their savings and possessions over what some idiot posted on an ESL board in relation to currency.
If you participated in a thread about something that I have a little bit of knowledge in, say IT or computer science, and I found it misleading or misinformed, I'd try my best to correct any errors or give out disclaimers.
Please, if I'm using poor judgement, feel free to tell me where I'm going wrong, so I don't make a fool out of myself again. Otherwise, just relax. :)
jae. |
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Basil Brush
Joined: 13 Apr 2003
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| Posted: Tue Dec 02, 2003 10:28 am Post subject: |
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RR. Don't get me wrong. The purpose of my post, Thu Nov 27, 2003 8:40 am, wasn't to personally attack you. The post's purpose was to point out some areas of concern. Your post was pretentious, false, and misleading. And it could have been discussed elsewhere. The main points of your post were:
Taking others work and crediting it as your own;
Stating falsehoods;
Misleading others.
Now, if you can reference the offical US policy is a weak dollar, that would be more credible than saying that you saw it in a magazine or newspaper. Furthermore, it pays to be careful what you say or write, as people may get the wrong impression, perhaps a foolish or weak one, and act.
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Jaebae, not being pedantic, Money markets are not FX markets.
Financial markets are summed up well in this.
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| I'm quite sure no-one will bank their savings and possessions over what some idiot posted on an ESL board in relation to currency. |
That's worth discussing to be honest...
Whether it be in IT, Computer Science or Economics. The rules are the same. Quote your sources. Give alternative views. Be prepared to discuss your arguments with others. Indeed, talk about something you know, or at best, you give the impression that you don't know what you're talking about. Then as you say, you look a fool, when someone catches you out. |
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RR
Joined: 28 Jan 2003
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| Posted: Wed Dec 03, 2003 9:35 am Post subject: |
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Basil,
Obviously you are either:
1) Insane
2) A troll
3) A bit of both
In any case, I will no longer be responding to you.
Advice: Grow up, relax.
RR |
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