Cesarnc's market talk, gossips, rumours & fun
- #781
- Dec 14, 2007 2:22pm Dec 14, 2007 2:22pm
- Joined Nov 2006 | Status: Shoot all the clowns.. Shoot'em all | 14,520 Posts | Online Now
- #782
- Dec 14, 2007 2:33pm Dec 14, 2007 2:33pm
- Joined Nov 2006 | Status: Shoot all the clowns.. Shoot'em all | 14,520 Posts | Online Now
- #784
- Dec 14, 2007 10:58pm Dec 14, 2007 10:58pm
- | Joined May 2007 | Status: Trader | 4,716 Posts
This week should be interesting, pound could take off either way......
And then we can all ride it until New Years Day.........
HOLLA
And then we can all ride it until New Years Day.........
HOLLA
- #786
- Edited 11:19pm Dec 14, 2007 11:18pm | Edited 11:19pm
- | Joined May 2007 | Status: Trader | 4,716 Posts
I think the pound will surprise everyone and make a rebound on Monday back up to the 2.05 area...
HOLLA
- #787
- Dec 15, 2007 3:24am Dec 15, 2007 3:24am
- Joined Nov 2006 | Status: Shoot all the clowns.. Shoot'em all | 14,520 Posts | Online Now
I think the pound will surprise everyone and make a rebound on Monday back up to the 2.05 area...
If not, then it will blow right past 2.0000.....
- #788
- Dec 15, 2007 7:12am Dec 15, 2007 7:12am
- Joined Nov 2006 | Status: Shoot all the clowns.. Shoot'em all | 14,520 Posts | Online Now
Elected Sexiest Movie Star 
http://www.angelina-jolie.com.ar/pic...ina-jolie5.jpg
Sexiest Moment
http://www.empireonline.com/images/point.gif
Beating the hell out of Brad Pitt in Mr and Mrs Smith and then banging the hell out of him by way of apology. http://i2.photobucket.com/albums/y28...miley_rock.gif
http://www.angelina-jolie.com.ar/pic...ina-jolie5.jpg
Sexiest Moment
http://www.empireonline.com/images/point.gif
Beating the hell out of Brad Pitt in Mr and Mrs Smith and then banging the hell out of him by way of apology. http://i2.photobucket.com/albums/y28...miley_rock.gif
- #789
- Dec 15, 2007 10:57am Dec 15, 2007 10:57am
- Joined Jul 2007 | Status: Never Give In | 2,518 Posts
If not, then it will blow right past 2.0000.....
HOLLA
If we keep on getting reports of the US economy is doing better than expected and inflation is creeping up, we should expect to see the stock markets to keep on selling off but the USD to strengthen against the majors.
The USD is setting itself up for a big fall in the month or two. If we all play it right, our comrades in arms on this thread could potentially make a killing.
I'll keep everyone posted on daily trend changes in the Euro Crosses. The Euro (imho) is the only currency that I find to be fundamentally strong at the moment. Keep an eye out for the following daily trend changes in the coming days:
EUR/CAD
EUR/USD (Has Already changed)
EUR/CHF (Still in a uptrend but may change if more EU downside)
EUR/AUD (still in a choppy downtrend but may change to an uptrend if the markets remain down)
EUR/JPY (Choppy uptrend due to UY strengthening and EU downtrend)
EUR/NZD (still in a uptrend mode but may change in a few days)
As in my experience and imho, when the daily trend changes and once a person is able to catch the trend change, the potential is from a minimum of 300 to 1200 pips or Even more if a person has the patience.
Take care and will stop by!
Enjoy your weekend!
Happy Holidays!
Ash
Humble Lifetime Member
- #790
- Dec 15, 2007 11:03am Dec 15, 2007 11:03am
- Joined Jul 2007 | Status: Never Give In | 2,518 Posts
Banks 'prey on customers in debt'
Banks are being accused of pressuring customers who have financial problems to take out expensive loans to try to ease their debts, the BBC has learned.
Some banks are repeatedly telephoning customers to try to get them to take out costly loans, against the advice of debt charities.
Citizens Advice said it had received many complaints about the increasingly aggressive tactics being used.
Banks say interest rate charges are up to them.
Continually telephoned
People find that even after they have been dealing with us they have found that they have been continued to be written to. They get aggressive letters and phone calls from their lenders.
Peter Tutton, Citizens Advice
The BBC's Breakfast programme has discovered some customers who have an agreed debt repayment plan with a debt advice charity are being put under pressure to take out loans, sometimes at a higher interest rate than they are already paying.
One HSBC customer, Simon Chandler, said that even though he had declined the bank's offer of a "managed loan", they had continually telephoned him to try and make him change his mind.
The interest rate on the managed loan is 13% - double what he is paying at the moment.
He said: "I have had multiple letters from HSBC saying they want to help people in financial difficulty - when clearly they don't.
"HSBC have agreed that the amount I can repay each month is acceptable. But the only way they will accept that repayment is if I enter in what they call a managed loan."
In a statement HSBC said: "As a responsible lender HSBC only offers a managed loan to customers when all other lending options have been exhausted. Mr Chandler's loan is flexible and affordable.
"Now back in full time employment he can make additional monthly payments when possible and his interest rate can be revised after a period of good repayment - typically just one year."
WHAT IS A MANAGED LOAN?
Only offered to customers in financial difficulty
Interest rate will be higher than for "good risk" customers
But the rate is lower than for "bad risk" customers
Offered over a longer term compared to normal loans
Interest rate can come down after a year
Citizens Advice (CAB) said it was aware of many cases in which people in debt have offered to make payments where the bank has asked for more than they can afford.
In some cases, customers had asked their bank to deal with a debt advice charity, yet they were still being sent aggressive letters and receiving pushy phone calls.
Aggressive letters
Peter Tutton from CAB said: "We see a lot of cases of people coming in who have tried to talk to their banks about arranged payments and they haven't been listened to, and they have been asked for more than they can afford.
"Typically people find that, even after they have been dealing with us, they have found that they have been continued to be written to. They get aggressive letters and phone calls from their lenders."
The banks' organisation, the British Bankers' Association (BBA), said banks were happy to work with debt advice charities.
However, it said they have to make their own judgement about the interest rate they charge and how much someone can afford.
Eric Leenders from the BBA said: "The work that banks do with intermediaries like money advice trusts are essentially negotiations - they are not necessarily conclusive."
Story from BBC NEWS:
http://news.bbc.co.uk/go/pr/fr/-/2/h...ws/7145579.stm
Published: 2007/12/15 10:23:33 GMT
BBC MMVII
Banks are being accused of pressuring customers who have financial problems to take out expensive loans to try to ease their debts, the BBC has learned.
Some banks are repeatedly telephoning customers to try to get them to take out costly loans, against the advice of debt charities.
Citizens Advice said it had received many complaints about the increasingly aggressive tactics being used.
Banks say interest rate charges are up to them.
Continually telephoned
People find that even after they have been dealing with us they have found that they have been continued to be written to. They get aggressive letters and phone calls from their lenders.
Peter Tutton, Citizens Advice
The BBC's Breakfast programme has discovered some customers who have an agreed debt repayment plan with a debt advice charity are being put under pressure to take out loans, sometimes at a higher interest rate than they are already paying.
One HSBC customer, Simon Chandler, said that even though he had declined the bank's offer of a "managed loan", they had continually telephoned him to try and make him change his mind.
The interest rate on the managed loan is 13% - double what he is paying at the moment.
He said: "I have had multiple letters from HSBC saying they want to help people in financial difficulty - when clearly they don't.
"HSBC have agreed that the amount I can repay each month is acceptable. But the only way they will accept that repayment is if I enter in what they call a managed loan."
In a statement HSBC said: "As a responsible lender HSBC only offers a managed loan to customers when all other lending options have been exhausted. Mr Chandler's loan is flexible and affordable.
"Now back in full time employment he can make additional monthly payments when possible and his interest rate can be revised after a period of good repayment - typically just one year."
WHAT IS A MANAGED LOAN?
Only offered to customers in financial difficulty
Interest rate will be higher than for "good risk" customers
But the rate is lower than for "bad risk" customers
Offered over a longer term compared to normal loans
Interest rate can come down after a year
Citizens Advice (CAB) said it was aware of many cases in which people in debt have offered to make payments where the bank has asked for more than they can afford.
In some cases, customers had asked their bank to deal with a debt advice charity, yet they were still being sent aggressive letters and receiving pushy phone calls.
Aggressive letters
Peter Tutton from CAB said: "We see a lot of cases of people coming in who have tried to talk to their banks about arranged payments and they haven't been listened to, and they have been asked for more than they can afford.
"Typically people find that, even after they have been dealing with us, they have found that they have been continued to be written to. They get aggressive letters and phone calls from their lenders."
The banks' organisation, the British Bankers' Association (BBA), said banks were happy to work with debt advice charities.
However, it said they have to make their own judgement about the interest rate they charge and how much someone can afford.
Eric Leenders from the BBA said: "The work that banks do with intermediaries like money advice trusts are essentially negotiations - they are not necessarily conclusive."
Story from BBC NEWS:
http://news.bbc.co.uk/go/pr/fr/-/2/h...ws/7145579.stm
Published: 2007/12/15 10:23:33 GMT
BBC MMVII
Humble Lifetime Member
- #791
- Edited 5:43pm Dec 15, 2007 11:12am | Edited 5:43pm
- Joined Jul 2007 | Status: Never Give In | 2,518 Posts
[quote=Ash;1761109]Banks 'prey on customers in debt'
Banks are being accused of pressuring customers who have financial problems to take out expensive loans to try to ease their debts, the BBC has learned.
I can tell everyone that a certain US Bank also does this. I know, because I had worked for a certain US Bank (sorry, don't want to get my ass sued for disclosing unscrupulous practices)for a few months and they utilized every single means at their disposal (legally and walking a fine line of not so legal) to get customers to take out loans at rates as high as 16.99% per annum even when customers could not afford to manage these loans.
In the wise words of ConfuAsh
::
What goes around comes around.
When the banks dance with the devil, they should expect to get burned.
P.S. The only reason the banks charged the maximum of 16.99% was because that was the highest they could charge by law. If they could get away with charging the client more, they would.
Banks are being accused of pressuring customers who have financial problems to take out expensive loans to try to ease their debts, the BBC has learned.
I can tell everyone that a certain US Bank also does this. I know, because I had worked for a certain US Bank (sorry, don't want to get my ass sued for disclosing unscrupulous practices)for a few months and they utilized every single means at their disposal (legally and walking a fine line of not so legal) to get customers to take out loans at rates as high as 16.99% per annum even when customers could not afford to manage these loans.
In the wise words of ConfuAsh
::What goes around comes around.
When the banks dance with the devil, they should expect to get burned.
P.S. The only reason the banks charged the maximum of 16.99% was because that was the highest they could charge by law. If they could get away with charging the client more, they would.
Humble Lifetime Member
- #792
- Dec 15, 2007 2:58pm Dec 15, 2007 2:58pm
- | Joined May 2007 | Status: Trader | 4,716 Posts
[quote=Ash;1761115]
And I hope they do.........
I know of a couple of banks that wouldn't leave me alone......I ended up changing my phone number and adding it to the do not call list. Banks make money off of that interest, they could care less about how long it takes to pay them. They are hoping you make the minimum payment. Solution: all cards are paid off, only pay for things in cash. Now my bank account is growing......
HOLLA
Banks 'prey on customers in debt'
Banks are being accused of pressuring customers who have financial problems to take out expensive loans to try to ease their debts, the BBC has learned.
I can tell everyone that a certain US Bank also does this. I know, because I had worked for a certain US Bank (sorry, don't want to get my ass sued for disclosing unscrupulous practices)for a few months and they utilized every single means at their disposal (legally and walking a fine line of not so legal) to get customers to take out loans at rates as high as 16.99% per annum even when customers could not afford to manage these loans.
In the wise words of ConfuAsh
What goes around comes around.
When the banks dance with the devil, they should expect to get burned.
I know of a couple of banks that wouldn't leave me alone......I ended up changing my phone number and adding it to the do not call list. Banks make money off of that interest, they could care less about how long it takes to pay them. They are hoping you make the minimum payment. Solution: all cards are paid off, only pay for things in cash. Now my bank account is growing......
HOLLA
- #793
- Dec 15, 2007 4:15pm Dec 15, 2007 4:15pm
- | Commercial User | Joined May 2007 | 1,464 Posts
Ash
No idea where you get this info, but is really looking good, keep it coming,
imran
No idea where you get this info, but is really looking good, keep it coming,
imran
Greetings from Jolly Ole England. Haven't traded since being stopped out on Wed. I still have my short on GU open from 2.108 open. Some say it will go up, some say it Will go down. I'm holding on to it, expecting it to break 2.0 as the daily is still in a bearish mode). Things aren't looking too rosy around the globe. Stock market down on Friday but UY up. Go figure. The Japanese are probably happy.
If we keep on getting reports of the US economy is doing better than expected and inflation is creeping up, we should expect to see the stock markets to keep on selling off but the USD to strengthen against the majors.
The USD is setting itself up for a big fall in the month or two. If we all play it right, our comrades in arms on this thread could potentially make a killing.
Keep an eye out for the following daily trend changes in the coming days:
EUR/CAD
EUR/USD (Has Already changed)
EUR/CHF (Still in a uptrend but may change if more EU downside)
EUR/AUD (still in a choppy downtrend but may change to an uptrend if the markets remain down)
EUR/JPY (Choppy uptrend due to UY strengthening and EU downtrend)
EUR/NZD (still in a uptrend mode but may change in a few days)
As in my experience and imho, when the daily trend changes and once a person is able to catch the trend change, the potential is from a minimum of 300 to 1200 pips or Even more if a person has the patience.
Take care and will stop by!
Enjoy your weekend!
Happy Holidays!
Ash
- #794
- Dec 15, 2007 5:24pm Dec 15, 2007 5:24pm
- Joined Nov 2006 | Status: Shoot all the clowns.. Shoot'em all | 14,520 Posts | Online Now
[quote=Turtle;1761240]
You would be amazed about what banks do in Brazil to trap you in. Actually, even supermarket chains have already gone into the credit market. They hunt you like a dog in the stores and offer you no earning statement $5,000 credit. ID and good will would make it.
Or course they are ahead of the curve and when you turn the corner, they will be there, coming in a monster truck to get'ya
And I hope they do.........
I know of a couple of banks that wouldn't leave me alone......I ended up changing my phone number and adding it to the do not call list. Banks make money off of that interest, they could care less about how long it takes to pay them. They are hoping you make the minimum payment. Solution: all cards are paid off, only pay for things in cash. Now my bank account is growing......
HOLLA
Or course they are ahead of the curve and when you turn the corner, they will be there, coming in a monster truck to get'ya
- #795
- Dec 15, 2007 5:35pm Dec 15, 2007 5:35pm
- Joined Jul 2007 | Status: C.E.O of BWR Investment firm | 4,736 Posts
Just Trade It
- #796
- Dec 15, 2007 5:37pm Dec 15, 2007 5:37pm
- Joined Jul 2007 | Status: Never Give In | 2,518 Posts
Best thing to do, if someone has time, is to report these lending institutions to their State Attorney General's office, the better business bureau, local newspapers and especially their local congressman's office, since imvho everyone will be more than happy to put these lending institutions in the meat grinder with what's going on. Imvho opinion, they would want to make a name for themselves in this volatile environment.
[quote=Turtle;1761240]
[quote=Turtle;1761240]
And I hope they do.........
I know of a couple of banks that wouldn't leave me alone......I ended up changing my phone number and adding it to the do not call list. Banks make money off of that interest, they could care less about how long it takes to pay them. They are hoping you make the minimum payment. Solution: all cards are paid off, only pay for things in cash. Now my bank account is growing......
HOLLA
Humble Lifetime Member
- #797
- Dec 15, 2007 5:38pm Dec 15, 2007 5:38pm
- | Joined Mar 2007 | Status: Fundamentally Technical | 4,446 Posts
Patience + Humility + Study = Success
- #798
- Dec 15, 2007 5:46pm Dec 15, 2007 5:46pm
- Joined Jul 2007 | Status: Never Give In | 2,518 Posts
[quote=cesarnc;1761311]
If I remember correctly, dog's were getting credit cards in the mail at one time. Think it was in the 90's.
You would be amazed about what banks do in Brazil to trap you in. Actually, even supermarket chains have already gone into the credit market. They hunt you like a dog in the stores and offer you no earning statement $5,000 credit. ID and good will would make it.
Or course they are ahead of the curve and when you turn the corner, they will be there, coming in a monster truck to get'ya
Think it was in the 90's.
Humble Lifetime Member
- #799
- Dec 15, 2007 6:24pm Dec 15, 2007 6:24pm
- Joined Jul 2007 | Status: C.E.O of BWR Investment firm | 4,736 Posts
I'm all C/J
I'm LONG A/J, For about 2.5 to 3 minutes before I would be short again, But I would keep going long in that pair (of legs)
http://www.stars-celebrites.com/photos/J/jolie04.jpg
Just Trade It
- #800
- Dec 15, 2007 10:12pm Dec 15, 2007 10:12pm
- | Membership Revoked | Joined Mar 2005 | 4,703 Posts
If I Go Broke Trying Then I Will die happy.