Four2atous: Zimbabwe…..We expect more foreign investors to knock on our doors this year because of this policy, which backs the recently promulgated Special Economic Zones Act.= http://www.thezimbabwedaily.com/features-opinion-analysis/103675-editorial-comment-let-the-good-times-roll-in-2017.html
Four2atous: Greg Hunter/ Jim Sinclair interview….minute 5:00=
Angel: China Gets Strict on Forex Transactions to Stop Money Exiting Abroad
January 2, 2017, 10:08 PM EST January 3, 2017, 3:34 AM EST
The State Administration of Foreign Exchange, the currency regulator, said in a statement Dec. 31 that it wanted to close loopholes exploited for purposes such as money laundering and illegally channeling money into overseas property.
While the regulator left unchanged quotas of $50,000 of foreign currency per person a year, citizens faced extra disclosure requirements from Jan. 1.
The annual limits for individuals’ currency conversions reset at the start of each year, potentially aggravating outflow pressures that intensified in 2016 as the yuan suffered its steepest annual slump in more than two decades.
An estimated $762 billion flowed out of the country in the first 11 months of last year, according to a Bloomberg Intelligence gauge, pumping up residential property markets from Vancouver to Sydney. Some money also spilled across the border into Hong Kong insurance products.
Key elements of the new requirements:
-Customers must pledge money won’t be used for overseas purchases of property, securities, life insurance or investment-type insurance. While such rules aren’t new, citizens previously didn’t have to sign such a pledge
-Customers must give a more detailed account of the planned use of funds, such as business travel, overseas study, family visits, medical treatment, merchandise trade or purchases of non-investment insurance policies, including the timing, by year and month
-Violators of foreign-exchange rules will be be added to the currency regulator’s watch list, denied foreign-exchange quota for three years and subjected to anti-money-laundering investigations
-Customers must confirm compliance with restrictions on money laundering, tax evasion and underground bank dealings
-Customers must now confirm they aren’t lending or borrowing quotas to or from other citizens.
The measures may curb enthusiasm for purchases of dollars and ease pressure for capital outflows, according to Zhao Yang, chief China economist at Nomura Holdings Inc. in Hong Kong.
The yuan fell 0.1 percent to 6.9554 per dollar on Tuesday, approaching an 8 1/2 year low.
SAFE also warned of the potential risks from investing in foreign assets, adding that yuan deposit rates are “significantly” higher than overseas equivalents.
Investors face “significant uncertainty and risks” on the returns from foreign-currency holdings, SAFE said. Banks should make spot checks on individuals’ foreign-exchange reports, penalizing those who provide false information or illegally move money abroad, it said.
“How Trump Will Drain the Swamp” – by Etheric Blue on January 3, 2017
Today we are another day closer to the Electoral College rubber stamp on Trump’s Presidency. Today is also the day Speaker Ryan is reelected to guess what? Speaker of the House! Oh my!
Live Speaker election: Just one defection for Ryan, four for Pelosi
As Fulford has mentioned, the US is under military leadership. A soft coup with the face of it Donald Trump. Don’t you know that this is the face of the White Hats, White Knights and Republic? The public non the wiser for it. Trump will now take steps to undo every unconstitutional executive order, shut down the Fed and move to restore the Constitutional Republic. Guess what? That also means releasing the RV/GCR.
Did I not tell you this all along? Ryan would not be President? Furthermore, no release of spendable funds until after Inauguration Day.
Alex Jones tells you how Trump will drain the swamp and about Trumps Administration Picks
And if you want a nice explanation of the Trump and White Hat Coup.
Here is the Steve’s take on Rex Tillerson – hardly a bad guy.