Global Finance World Safest Banks
Egon von Greyerz and James Turk discuss how gold can preserve your wealth
Global Finance World Safest Banks
Currencysource.com – Currency Exchange Services: Keeping the Vigor in Money Circulation Worldwide
In the early 1800′s until the mid 1900′s, the value of currencies was weighed against the prevailing gold standard at the time. It was a common standard in which several countries assigned a physical value of gold against the legal tender in circulation. It was in the late 1800′s that the United States also practiced this gold standard and it was at this time that the U.S. dollar took over the British pound as the standard bearer.
Shortly after World War II, most major currencies used the U.S. dollar to peg their local currency. This happened as a result of the Bretton Woods Accord of 1944 wherein the United States, Britain and France agreed on pegging foreign currencies against the U.S. dollar. This move was done to prevent another financial collapse reminiscent of the 1930′s global depression. The Bretton Woods Accord offered several features:
1. Predetermined but flexible exchange rates
2. Creation of the IMF (International Monetary Fund)
3. Birth of the World Bank
Shaping the foreign exchange market
The late 1900′s marked significant changes that have molded the foreign exchange market to what it is today:
1. 1978 – IMF proposal to make currencies “free-floating”, allowing currencies to fluctuate without much intervention from concerned central banks
2. 1979 – the birth of the European Monetary System
3. 1998 – the Euro makes its first appearance which integrated the European Union’s currency into just one
The ForEx of today
With the advent of numerous means of communication and technology, currency exchange services of today have taken a whole new light. Gone are the days where physical exchange of money needs to take place. Nowadays, as long as a person is connected to the Internet or wireless communication, foreign currency exchange services and transactions can occur.
It’s no longer unusual to see a trader doing foreign exchange transactions in the comfort of his abode while sipping a hot cup of coffee. Modern technology has also made foreign currency exchange service transactions to happen at superfast speeds and any rise and fall on the exchange rate can already be monitored in real time. These developments have also enabled foreign trading to be done across countries.
Handy helpers
Nowadays, many companies and online services are available that offer excellent foreign currency exchange services in a safe, secure and hassle-free manner. Taking cue from modern technology practices, these companies offer foreign currency exchange services using the following modes:
1. Using the Internet – do your forex trading with a simple click of the mouse. Most online finance services present a secure and convenient way to do forex trading online
2. Wireless communication – use your handy mobile phone in doing your daily forex trading. A lot of finance service programs allow you to do foreign currency exchange services anytime, anywhere using your mobile phone
Foreign currency exchange services have surely come a long way from its roots in the middle ages. The changes over time have afforded us the advantage of enjoying forex trading in the most convenient, safest and hassle-free manner.
What lies in the future?
Knowing how modern times have molded the foreign currency exchange services that we know today, who knows what great changes are in store in the future? As marketplaces become more seamless everyday, the time will come that foreign currency exchange services can be done with a snap of a finger.
What is important now is that we have useful allies online that assist us in all our currency exchange service needs. It is like a friend that is always there, anytime, anywhere – ready to lend a helping hand when foreign currency exchange service transactions get to be too complicated for us to handle. Modern life is indeed so beautiful and amazing!
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Prepaid Offshore Debit Card: Take Control of Your Finances
The global financial crisis that has nearly incapacitated the economies of the world has brought insurmountable havoc and confusion to the still bewildered people, of all walks of life. Truly, none was spared by the dreaded menace. Thousands are losing jobs; inflation is at its peak and the dollar is slowly losing its worth; commodities are rapidly rising in prices; homeowners are being driven out of their homes; and bank accounts are being frozen – the world is in a serious financial hell, and America is in the center.
Financial control is nowhere near the hands of Americans, it can even be said that the financial crisis is controlling them. The Americans, that before couldn’t care less about budgeting, now need to plan their spending, or else they will not be able to survive these tough times. But they are finding peril on deciding what is best to do with the little money they have left. With the numerous bills that have to be paid, declining earnings and the ever persistent taxes, people are aware that they could lose everything in one fell swoop.
Amidst the crisis, one thing is being sought more than anything else, security over one’s finances. People are looking for better ways to ensure the safety of their precious money. Before, onshore banks and other onshore financial institutions were considered the safest place to keep money, but today is a different case. With the federal government already losing billions in insurances for bankrupt banks, the remaining banks have been granted the power to freeze bank accounts more easily than before. And so it seems, that money isn’t safe anywhere.
The Panama laws however, have brought new hope into the safekeeping of money. The primary cause for the creation of the Panama laws is to protect the rights, and the deposits of people keeping cash deposits on foreign banks, to encourage offshore banking. Under the Panama laws, offshore depositors cannot in any way be compelled by their home government to divulge any information regarding their offshore deposits. Also, the home government of the offshore banker cannot in any way look into the records of the offshore depositor’s offshore bank accounts. In other words, offshore bank accounts are now considered fully confidential.
With the government having no form of access, offshore banks accounts are therefore absolutely risk free of being frozen. And another unintended use of offshore bank accounts is what has gotten the attention of so many, that is, hiding money offshore. Since offshore bank accounts cannot be looked into by the offshore depositor’s government they are the most effective ways of concealing money, hence safely being able to not declare the activities from which such money came from. Thus, keeping money in an offshore bank account is an effective way of avoiding taxes.
The problem however, is how one would access his offshore bank account conveniently and cheaply. The solution is quite simple; have your offshore bank account linked to a prepaid offshore debit card. To make things easier, you may choose an offshore bank that offers a prepaid offshore debit card along with its offshore bank account.
The prepaid offshore debit card is the new king of the electronic payment system after beating the international debit card that has reigned for so long. The prepaid offshore debit card is a plastic card embossed with the MasterCard or Visa symbol that signifies its worldwide acceptance. It can be used in making payments the same way as a credit card, only better. Credit cards allow the cardholder to spend money he is yet to have, which he pays at a later date with hefty interests. Credit cards also have high monthly charges. Prepaid offshore debit cards however allow the cardholder to spend only up to the balance of the related offshore bank account, and charges no monthly or annual fees and has very minimal interests.
The prepaid offshore debit card can also be connected to a real or virtual offshore bank account. It is like a key that can be used to keep track of the offshore account as well as withdraw cash from it via any ATM outlet worldwide. Using a prepaid offshore debit card is generally safer that carrying cold cash and more convenient than using personal checks.
Prepaid offshore debit cards also offer the offshore cardholder the option to keep card anonymous, not embedding in the card any information about the holder, but rather a code or company name, in case the debit card is for business purposes. This greatly reduces the risk of identity theft and thus removes any threat of the card being used fraudulently by unknown third parties.
The most advanced prepaid offshore debit card providers have a SIM card in their packages. The said SIM card is linked to the offshore bank account and offshore debit card. It enables the holder to keep track and access his account through his mobile phone, providing the greatest convenience possible. Even better providers allow the holders to use the SIM card to make overseas calls and have the costs charged directly to the offshore bank account, at a very small fraction of the cost.
Hide your money in your very own offshore bank account now and keep track of it using your offshore debit card and offshore SIM card. Get the 2-GetCash offshore debit card now that comes with a virtual private offshore bank account and a SIM card. The SIM card not only offers 400 free call minutes but also allows access to your very own voice over internet protocol account that allows international calls at very low prices.
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