QUOTE(Hansel @ Dec 4 2016, 10:51 PM)
Well,.. now you are saying you do not have a crystal ball, but earlier you said there is not going to be stricter rules of capital control in the foreseeable future. You have started to contradict yourself even before the days start to go by. Why back down so fast ?
All that I have said earlier have been blanketed by my two main sentences, which I have also included into my signature at the bottom of my posting space. So,.. please do not harp again and again, and repeat unnecessarily what you have said of me earlier. Since you used the word allegation in your first 'hit' against me, I have been respectful enough to you to include those two sentences.
I will respect all who put in their opinions and comments, NOT only the ones from you. So, I have put in a caveat into my earlier postings, what else do you wish me to do ? You are the admin, if you don't like those postings, you know very well what to do with your keyboard. You do not need to repeat what you have indicated to me earlier.
You are OT'ing unnecessarily by repeating what I have adjusted !
It is a critical juncture for investors between : the door is closing and the door has closed. You are of the opinion that
everything is fine, and with
no possibility of further 'closures'. You kept telling the forummers that the central bank's steps are still mild, and
not too bad. You kept telling the forummers that
things were very much worse back in 1998, and things are better today.
I, on the other hand, am giving the forummers an alternative view. Then, this afternoon, you called my postings as allegations,.. sure, I respect that, hence I put in two sentences to be 'fair to the readers'.
I am relaying this message to the forummers : act first in preparation BEFORE the full closure comes, should it come. No point to delay and suddenly if it comes, regret why mitigation steps were never taken earlier. Events have happened once back in 1997/8, how would we know that such events will not repeat this time ? Anyway, forummers reading my posts are free to do what they think they should or should not do, even before I put in those two sentences.
By the way, what's wrong with taking quicker steps to take up some investments outside, as a form of diversification, even if the full closure does not come ? What's wrong with taking quicker steps to invest in a stronger currency outside ? What's wrong with doing all the above now since the motivation is there, seeing all these events taking place now ?
Now's the time to do so, since,... as you said, there is NO capital control in place, and if we follow the rules and provide the proper docs, it should not be a problem to TT out. If not to do now, then wait till when ??
Till the events of 1998 appear again ? Or,.. to trust what you said that 1998 will definitely not come again,.. and we don't have to do anything at all forever....
My point of view,...you can choose to do what you wished to !
As mentioned before, my pov is that if central banks want to impost capital control, it won't start with miniature move, it will be a blanket control.
You want to have control and plug the leak, you stop at the source and big tap, just like what had happened during 1998.
By stopping the small "tap" by only imposing restriction on borrowing to invest abroad, while no limit with no borrowing, is not a blanket capital control.
As mentioned before, one can opine the door may be closing soon, no problem, this is one's opinion,
but posting statement of "please move money quickly as can't even transfer fund out anymore" is a serious statement made.
QUOTE(Hansel @ Dec 3 2016, 01:51 PM)
Hence,... forummers,...
[B]please move quicker before you can't even transfer funds out anymor[/b]e,....
I don't think you get the message I want to raise. My message is simple.
There is no capital control in place currently, except 75% of exporter proceed issue.
There is no capital control in place for forseeable future, because I see the move is miniature, it really want to have capital control, it won't be like that, but start with a "bang" one just like what happened in 1998.
I may be wrong, this is my opinion, but I won't tell people should or shouldn't invest abroad.
I do not speculate what will be happening, nor saying 1998 crisis will or will not repeat.
I do not say thing is better or worst than 1998.
I just pointed out real example how capital control was imposed, not guessing or speculating.
Moving money abroad now due to speculating the door is closing is not a preparation but a speculating and panicking move.
Making investment decision is not through speculating whatever event may occur.
As mentioned before, this is a finance section not /k section, we expect forumer to post serious and more responsible statement definitely not this kind of statement.
We just do not want to see any uninformed forumer seeing this statement then thinking capital control is or will be definitely in place and asking, they cannot TT money out now? money locked in local bank? etc. <-- we already have some kind of similar posts.
As mentioned I do not have crystal ball, if the door is opening now, I said it is opening.
When the door is closed, then I said the door is closed.
Not all investment abroad are sound one, taking Lehman mini-bond as example. One is way better off with local good stocks or even FD vs the bond.
So please do not panic and rush in making any investment decision merely based on speculating the capital control must be in place or not.