Forex Legend George Soros And The British Pound Low Interest Credit Cards Learning About The Forex Trading System How To Save Money And Get Discount Automobile Insurance In Iowa
Anyone who trades forex would have heard of George Soros, the man who traded against the Bank of England and won. This story has been retold many times and is now stuff of legend. But now in 2007 when GBPUSD is over the 2.000 level from September 1992 once again, it is time to recall this legendary forex event. Remember September 19, Black Wednesday in 92, the day when the Bank of England withdrew and stopped pumping money to keep the sterling pound strong.
Events leading up to Black Wednesday as it was called: BoE joined the European ERM (Exchange Rate Mechanism), the predecessor to the EURO). This is when all the currencies locked at a fixed price range with 6% leeway. If the price goes below or above this range, the Bank of England must intervene and make sure the prices stay in this range. It’s easier to understand the event if it’s read in the chart on https://www.coolwebtips.com it joined, the economies of the UK vs. the rest of countries in the MRE were not in sync. The UK’s Domestic Interest Rate was too low compared to the rest of the stronger nations like Germany and France, which was much higher. This disparity was causing the fixed price range to unbuckle. With Germany enjoying a fairly healthy economy and UK entering it’s economic recession, speculators saw this fixed price range in disequilibrium, seeing the pound so high compared to the Deutsche Mark while it’s inflation and interest rising, they shorted in droves.
BoE refused to lower interest rates due to inflationary fears and cannot allow the GBP to be devalued according to the ERM policy. The event leadig to the yellow shaded area showed that BoE buying the Sterling Pounds to keep it high.
But the final blow-off came as it gets closer to the resistance area, George Soros and other speculators shorted even heavier, around $10 billion. Finally on that day at resistance, BoE announced they will no longer be part of the ERM and will not intervene with the currency and will let it float freely. On that news, the hard drop in the Pound can be seen on the chart: https://www.coolwebtips.com following months, he and his investors made one of the biggest and rarest winnings in Wall Street history. After this event, he was the man who “broke the Bank of England.” By judging the facts, Soros was lucky that BoE caved in before his $10 billion and other speculators run out as BoE has a much deeper pocket than anyone individual. This has to be remembered. Had BoE decided to continue intervening past the resistance, who knows what may have happened but certainly speculators who continue to short would have been with extremely heavy losses.
Using fundamentals (macro economic views) can be advantageous in recognizing the imbalances in the currency pairs but it must be a long term trade and with a very big account to withstand the corrections and even the wrong timing of the entries.
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Credit card usage is on the rise and it’s hard to know which credit card is right for you. If you follow a few simple guidelines, you can be sure to get the most out of your credit card. Beware of high interest rate cards as they can cost you more than you are willing to pay in the long run. Low interest credit cards are very prevalent and if you do some simple research, they can be a great financial tool.
When looking for a low interest credit card, be sure to read all the terms and conditions. Many low rates are just introductory and can rise significantly after the specified time period. Some can go up to 30 APR or more, so be sure to read the terms and conditions carefully. Most credit cards are variable after the introductory period and are based on your individual credit. Variable cards add a certain percentage point to the current prime rate, which is subject to change.
Most companies provide a 0% APR, Annual Percentage Rate credit card as an introductory offer. Many last six months, but some can last up to a year or longer. Again, beware of how high the subsequent interest rate goes up. These cards are great to transfer existing balances to so that you can save money and pay them off quicker. Just be careful not to fall into the trap of charging more than you can afford to pay off, simply because of the low interest rate.
A low interest rate credit card is beneficial to all people, regardless of your financial situation. Even if you are able to pay off the balance each month, you never know when an emergency will arise. Having credit readily available can be a lifesaver in a crucial time. Having a regularly used credit card is also good for your credit. It proves that you can use credit wisely and makes you a better risk. If you are not able to pay your card off entirely each month, having a low interest rate credit card versus a high rate card will save you hard-earned cash.
Before choosing a card, browse credit card companies’ websites. Many times, reward programs will be offered at no charge with which you can get cash back and discounts. Also, be aware of whether a company charges an annual fee. There are so many cards out there that, unless your credit is shaky, you can easily find a card with no annual fee. Most websites will allow you to apply online and some will give you a decision instantly. If you are not comfortable with applying online, you can also call and apply over phone.
Low interest rate credit cards are a valuable tool in anyone’s financial arsenal. If you are careful to consider all your options and read all the fine print, you can get a great card that is tailored specifically to your needs. Low interest rate credit cards are truly the best credit cards to hold.
You can never hide the fact that people need money. Money buys everything you need to live a comfortable life. You use it to purchase your everyday food, clothes to keep you warm, fuel for your car, and you use it to pay for bills.
Money is necessary in order for you to provide a comfortable life for your family. This is why you work, and this is why people put up businesses. It is true that earning money can be difficult for the average person. However, it is way better than depending on the government to provide you with food.
People have ambitions that requires hard work. Depending on welfare alone can never make your dreams come true.
If you are a regular person, who earns a decent salary but still wants to earn extra cash in order for you to afford that dream vacation you saw in a TV ad or perhaps buy that huge TV you have always wanted, you should consider investing your savings.
Investing your savings can only mean two things. Either you can make it grow, or lose it all. It may have some risks but if you do it right, you can really make a lot of money and afford those things you never thought you can ever have.
One great way to invest your money in is by investing it in the largest, most liquid financial market in the world. This kind of market is called the Forex market. In this market, you simply have to buy and sell currencies of the world with hopes of making a profit. The point of all this is that you have to buy low and sell high in order to make a profit out of your investment. Here’s a clearer explanation on what traders do in the Forex market. For example, when a trader purchases a particular currency at a cheap price, the trader will expect the value to rise. Once the value of the particular currency he or she sells rises as expected, you can sell it at a much higher price, hence, getting your investment back together with the profit.
Trading in Forex will require you to trade in pairs. Because you purchase currency, you sell another at the same time. There are a lot of currency pairs in the Forex market. However, the most commonly traded currency pairs in the Forex market are: USD/GBP, USD/JPY, USD/CHF, and GBP/USD. These four are the most popular currency pairs traded in the Forex market and where people are more likely to gain income.
Although trading in the Forex market can really give you the chance of earning a lot of money, it is also a fact that you can also lose a lot of money. This is because Forex is traded on margin. For example, with a 1 percent margin, your 1000 dollars can give you leverage of 1000 dollars. This means that your rate of return will be 100 percent of each percentage change upwards. However, your loss will also be equally great if the market conditions went against you.
This is why you have to have the proper skills and knowledge about the Forex market before you begin to trade. Also, you need to understand that when you invest in this market, make sure you can afford to lose what you invest. This is not necessarily attractive but if you want to make money, you also have to be prepared to lose money.
If you are an inexperienced Forex trader, you should consider hiring a Forex broker and analysts to guide you in your money-making venture. You can also consider opening a dummy account or taking a Forex trading course in your local business school or in online schools.
Knowing the basics in Forex trading can be very beneficial. So, try and look for some time where you can practice your trading skills and strategies in dummy accounts or attending Forex trading courses.
These are the things you should know about Forex trading and the Forex market. If you want to go and earn that money you need for whatever reasons, try investing in the Forex market. If you do it right, you can be sure that you can earn a lot of money through Forex trading.
Always remember that on whatever things you invest in, whether it would be a business or in the world’s largest financial market, you should always consider that there would always be risks involved.
Technically, if you live in Iowa you don’t have to buy automobile insurance if you have a spotless driving record – and if you own your vehicle free and clear. The problem is, if you get in an accident and you do not have insurance you must be able to prove that you have the financial resources available to take care of all injuries and damages that result from the accident or you can lose your driving privileges entirely.
For most people it just makes sense to purchase discount automobile insurance and not risk the possibility of not having the financial resources available to pay for an accident out of pocket if the need arises. On top of that, if your vehicle is being financed then your lender will most assuredly require that you purchase automobile insurance.
So now the question really becomes, how can I save money and get discount automobile insurance in Iowa? Fortunately there are several simple things that almost any Iowa driver can do to help keep insurance costs under control.
Start with your own driving habits. Don’t speed and don’t drive recklessly. Any ticket for a moving violation and your automobile insurance rates will start edging up.
If you are convicted of a DUI (Driving Under the Influence) or a DWI (Driving While Intoxicated) your automobile insurance rates could soar sky-high and stay there for at least 3 years – maybe longer. If you have multiple convictions for DWI or DUI you may be forced to find high-risk insurance at an astronomical cost.
If you are under 25 and have the option stay in school and maintain at least a 3.0 grade point average. This should qualify you for a Good Student Discount and save you at least 5% on your monthly premiums.
Similarly, older drivers, those drivers over 55, may be able to take a special driver’s refresher course. Passing such a course can save you 10% or even more on your monthly premium – but talk to your agent as not every insurance company offers this option.
If you only drive a very limited number of miles each week talk to your agent about getting a limited-mileage policy. This can save you a fortune every year.
If you drive an older car or a “junker” with no real value then you should probably cancel any collision or comprehensive coverage you have since your insurance company won’t pay off on the car even if you pay for the insurance.
Your deductible can make a huge difference in how much you pay for automobile insurance each month. Determine how much – realistically – you can afford to pay out of your own wallet any time you get into an accident. The more you can afford to pay yourself – in other words, the higher your deductible – then the less you will be asked to pay each month for your insurance.
O.K. – it’s time to get online, compare policies between companies, and save money and get discount automobile insurance here in Iowa. It can be done and now you have the information needed to do it – just keep in mind that if you really and truly want to find the very best price for your insurance then you need to take the time to make your comparisons on at least 3 different websites before making your final choice..
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