Once upon a time when I was in the Middle East, I caused quite a stir with all these arab chicks here walking without my shirt through Umm Al Quwain(Name of a town not A JAMIE OLIVER DISH) I thought that I was creating this stir and being followed by all these nuns in black(could even have been suic.... mad women for all i know) and maybe their men are also always covered up so they could just have been a bit man hungry, but and this is a BIG BIG but(BUT) alas they were not following me, they were pointing me out to the polisie.
Now you dont want to f... with the polisie here. They dress like soldiers and act like soldiers and they speak no english. Conversation went like this (me) Salaam Muleikem (Polisie) Salaam fzfsrtdhhhsdyys bgtahhsust jjyststss............ and that was it convesration over. Of course non of the suicide nuns following could speak english (or afrikaans ) eitherso I sat down on a rock and watched this animated conversation going on between the nuns and the polisie. Thank heavens I dont smoke anymore because I could have done apack of twenty during this chit chat.
Finally the polisie made me put my shirt on and wrote me a ticket(this was also in arabic) so i did not have a clue what it was and all he said to me(that I understood) was Jabal Ali(A town near me)
Then they all left. It was like being at a boks vs lions match and opening my eyes and I was alone...weird stuff
So, next day I went to Jebal Ali with my ticket and went nervously to the jabal ali polisie stasie.
Seventeen cops is jalebas all sitting behind a desk area made for 4 and all waiting for me one adventurous dutchmen(adopted jew-thanks SK) facing them. Golda Meier and old one eye would have been proud of me. It was like the battle of Masada.
I plucked up(No plucked not f....)my courage, steeled my girth, flexed my muscle, and said in my loudest and most agressive voice.....WIE DE FOK IS IN BEHEER HIER MANNE!
Well you could have bowled me over, they all except for the last jelebah standing immediatelt left and went outside to do their work and the poor shivering snot nosed little snivelled cur behind the desk started babbling away as if I had struck him down and kept saying something like jeffe jeffe xchhghd cbdgdhshyevcf bjsgdayn1
i spun around and you will never never guess what was behind me. This massive photo next to the Sheikh of Abu dhabi, the sheikh of Dubai and the sheikh of Ras al Kheimah was aphoto of the new head of the armed forces for the whole of the UAE sheikh bubblegum something, AND he looked just like MOI with his white beard and they thought I was him
Now I have been known to rise to the occassional occasion, and I steeled my girth once more, flexed my muscle (Remember at my age their is only one muscle left) and looked old snivel nose in the eye, reached into my pocket which really scared the poor brace polisieman and took out my ticket
I leaned over the counter
I gave him the ticket and whispered in his ear....him leaning forward to hear me....
i said...........
"jou fokken dom poepal, skeer heirdie ding op of ek gaan my finger in jou gat steek, jou belly button gryp in you inmekaar trek"
He took the ticket, tore it up and winking at me said "Ja Baas"
eeeish
..
So now we seeing UK inflation jumping at least 0.3% more than expected by analysts.
Consumer prices rose 3.7% from a year earlier, despite expectations of a more modest increase to 3.4%.
Inflation has remained stubbornly above the government's 3% limit for ten months in a row and will probably accelerate further with the recent increase in VAT. The increase in prices within the UK means that the pressure is growing on the Bank of England to begin raising interest rates from a record low of 0.5%. Will this happen...well it would be interesting see what kind of gumption they have.
The BoE face a difficult balancing act in tempering rising inflation against weak economic growth. Speculation of an interest rate increase over the coming months is supporting the Pound and we may see a sustained move higher over the coming days.
The Bank of England have adopted a wait-and-see approach for the past year, but the MPC is losing some credibility for allowing inflation to remain above the government's upper limit of 3%.
Thanks to the Market Analysis by Adam Solomon from TORFX.
What is it that makes me continously searching for some financial answers - every single day.
As an expat what do i need?
Transfer some money home, use a forex broker, get a great rate and NOT PAY TRANSFER FEES!
To insure my life, in case I die!
Make sure I have a will.
Make sure I have a pension.
Insure my possessions.
Make sure I have medical insurance.
If possible buy a home and get a decent mortgage, whether it is in my new land as an expat mortgage or at my home country as a normal home loan.
And I need a good sounding board through social media such as facebook on finding out questions that crop up at 3am somewhere!
So when I know these answers, at least i can focus on making money and at least living a normal life.
So moving and transferring your money and forex between countries in these markets ... you better know whats happening and get your slice!!!
Cameron said in a speech yesterday that "the overall scale of the problem is even worse than we thought." The Prime Minister is seeking public backing for cuts that will be the steepest since the 1980s, as he lays ground for the June 22nd budget in which the Chancellor is set to unveil reductions needed to reduce the deficit, which has expanded to 11.1% of GDP, the most among the Group of Seven nations.
The fact that the Pound has continued gaining versus the single currency perfectly illustrates the inherent weakness in the Euro, which has also fallen under $1.20 versus the Dollar to the lowest level in four years. European stocks have fallen again this morning, while the FTSE 100 Index has also retreated, amid escalating concern that the sovereign debt crisis engulfing much of Europe will spread and slow the global economic recovery.
Asian stocks also slumped and U.S futures fluctuated, after the non-farm payrolls data on Friday disappointed investors and prompted speculation that the U.S economy may be heading towards a slowdown, amid faltering government support and persistently higher unemployment. The economy rebounded strongly from the worst financial crisis since the Great Depression in the fourth quarter of 2009 but the risks to the recovery are growing, as the debt crisis in Europe escalates.
The Pound was up 0.3% against the Dollar by the close of trading last night at $1.4490, leaving its decline since the start of the year at 10%. The FTSE 100 Index also closed 1.2% lower last night and the decline in global stocks will strengthen the lower yielding currencies like the Japanese Yen and U.S Dollar, as investors look to hedge against risk.
Neil Mellor, a currency strategist at Bank of New York Mellon Corp, said that gains by the Pound will prove to be a "temporary correction" and the UK currency is still "lower than where we were through the course of last week." Analysts at Bank of Tokyo-Mitsubishi UFJ Ltd have advised investors to buy currencies considered to be the safest because the global recovery will slow as governments focus on budget cuts.
Lee Hardman, a foreign exchange strategist at the bank said that "escalating global sovereign debt concerns are prompting governments globally to re-focus attention on fiscal consolidation, diverting attention away from supporting global growth. We continue to prefer remaining defensively positioned safe haven currencies such as the Yen, Dollar, and Swiss Franc."
Risk sentiment will remain the primary driver of the foreign exchange market today and a tentitative rally in stocks could help push the Pound back above $1.45 against the Dollar, before renewed selling later in the U.S session as equity markets come under further pressure. The UK currency has strengthened to a fresh 18-month high against the Euro, coming close to the significant 1.2195 level.
EUR/USD
The Euro slumped to a fresh four-year low against the U.S Dollar yesterday, as the slump in global stock markets and the sovereign debt crisis in Europe raised concern about the sustainability of the global economic recovery. The single currency also fell to an 8-year low against the Japanese Yen, as investors flocked to the relative security of lower-yielding assets.
The Euro declined even as a report from Germany showed that factory orders unexpectedly increased for a second month in April, driven largely by a weaker Euro that has fueled demand for exports. Orders rose 2.8% from March, when they surged 5.1%, as the debt crisis in Europe pushed the single currency down 20% against the Dollar in just six months.
John Doyle, a strategist at currency-trading firm Tempus Consulting Inc, said that "the data was not enough to prop up the euro. Until the European debt crisis cools somewhat, the data will continue to be overlooked. Every time you see stocks fall, people are shedding riskier assets." The Euro dropped 0.4% against the Dollar on the day to 1.1923, the weakest level since March 2006.
Market Analysis by Adam Solomon
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