Comments on: BOK Admits They are Propping up the Won…

By: Rory Daly

Rory Daly — Tue, 08 Jul 2008 06:32:24 +0000

ha ha #34.
I guess Wangkon is unaware that the IMF has launched an investigation into the “highly advanced” US financial system.
The US dollar moved from the gold standard to the gun (or nuke) standard back in the 70s.
Military power has been the underlying base for all economies since Ggugh and Euragh first dragged a mammoth back to the cave and told Gharaeugh to stand guard out the front.

By: The BOK Says, “Go Ahead, Make My Day…” | The Marmot's Hole

Tue, 08 Jul 2008 06:11:57 +0000

[...] upon news of this, Monday the won increased from 1,043 to a dollar to 1,032. As echoed earlier here, expect the won to continue to strengthen vs. the dollar as commodity prices rise. $150 a barrel [...]

By: Maharlika

Maharlika — Thu, 05 Jun 2008 05:41:58 +0000

#33

“highly advanced financial markets..”

as in the US could just print dollars at will?

By: WangKon936

WangKon936 — Thu, 05 Jun 2008 04:57:19 +0000

# 31,

The U.S. doesn’t need as big foreign currency reserves because it’s an extremely developed country and it had highly advanced financial markets.

Korea’s economy is recently developed yes, but they have comparatively primitive financial markets vs. the U.S. or Europe.

By: WangKon936

WangKon936 — Thu, 05 Jun 2008 04:53:51 +0000

# 29,

The 80’s were a long time ago and lots of countries get hand outs not just Korea. Japan gets a hand out through the Yoshida Doctrine. The U.S. gets a monetary hand out by establishing the Bretton Woods system and Saudi Arabia sits on a shit load of oil…

By: Maharlika

Maharlika — Thu, 05 Jun 2008 03:29:03 +0000

“reserves net of short term debt is only $99.5 billion”

That is higher than the total reserves of the United States which is something like 75 billion USD

By: Maharlika

Maharlika — Thu, 05 Jun 2008 03:27:48 +0000

“reserves net of short term debt is only $99.5 billion”

That is higher than the total reserves of the United States at something like 75 billion USD

By: jdog2050

jdog2050 — Thu, 05 Jun 2008 01:06:24 +0000

I remember having an argument with someone about a year ago that Korea is pretty much riding a wave of handouts from the international community, the US namely (they’ve got a half-free army, a shipping industry, a clothing industry from the 80’s). It’s all really tenous.

By: day4night

day4night — Thu, 05 Jun 2008 01:00:27 +0000

Hope I don’t come off as a know-it-all btw. What I know is the pain and stress of losing in the futures markets!

By: day4night

day4night — Thu, 05 Jun 2008 00:41:22 +0000

You’re in finance, right? Maybe you could do it. I had to lose a whole lot (of other people’s money, as a broker) before I learned to trade decently. I’d say don’t use a personal futures broker or sales trader (though a managed futures account could be good as a small part of a larger portfolio), study study study, focus on not losing money or else placing small purchased options trades where your risk is limited to the premium paid, and start very small. You’d also want to discover what trading styles suit your personality. Discipline and excellent risk management become of primary importance. The winners in the futures markets constantly feed on the capital of the uninitiated, and it’s more of a zero-sum game than stocks. You probably know all of this, but it’s what I pretty much tell anyone who shows interest in commodities. I personally don’t like physical commodity index funds because I think they’re unethical (as opposed to futures), unless you’re shorting them!

Interactive Brokers is one of my favorite online brokers, and in case if you have dealings with Korea they provide multi-currency accounts and an extremely cheap means of currency conversion compared to the banks, credit cards and other FX conversion rip-off artists.