IHeartPL
19 Sep 2011
IHeartPL
19 Sep 2011
Law / Bringing dollars to Poland, what interest rates can I negotiate? [32]
Tom morning when I wake up, I will open up my account and trade a doodey load of money off my couch that you've never even seen by googling it while sitting on gotomeetings talking to my employees (It's supposed to be in the 50's tomorrow, I don't much like the cold and won't travel to my office if I don't have to). 11 if i'm satisfied with how much I made, I take off and take a nap. I'll wake up around 3 and watch the market close or maybe not depends if I feel like it. Than, I will think about my month long trip to eastern and europe and how I'll enjoy it. I know hedge fund managers, FA's, stock brokers and even at one point worked for a Forex company (didn't like it) bottom line they don't think about this and don't do it (I enjoy traveling). I figured i'll try thinking outside of the box, while reading the charts I thought not only can I capitalize on the interest rate I will also convert at a time when I think the PLN has peaked and that's at about 1.25 EUR/USD. Than, let it ride for as long as possible before they either grow some balls (Germany) and others or dismantle the euro and I will buy back the dollars right before that happens. So, I'm too excited to sleep, figured i'd come on here pick some brains while watching Netflix. I'm liquid, liquiiieeed :) . Please, if you don't add to the discussion and just look to pry out personal information and than match a name for different amounts of money. Consider moving on. Thank you.
Tom morning when I wake up, I will open up my account and trade a doodey load of money off my couch that you've never even seen by googling it while sitting on gotomeetings talking to my employees (It's supposed to be in the 50's tomorrow, I don't much like the cold and won't travel to my office if I don't have to). 11 if i'm satisfied with how much I made, I take off and take a nap. I'll wake up around 3 and watch the market close or maybe not depends if I feel like it. Than, I will think about my month long trip to eastern and europe and how I'll enjoy it. I know hedge fund managers, FA's, stock brokers and even at one point worked for a Forex company (didn't like it) bottom line they don't think about this and don't do it (I enjoy traveling). I figured i'll try thinking outside of the box, while reading the charts I thought not only can I capitalize on the interest rate I will also convert at a time when I think the PLN has peaked and that's at about 1.25 EUR/USD. Than, let it ride for as long as possible before they either grow some balls (Germany) and others or dismantle the euro and I will buy back the dollars right before that happens. So, I'm too excited to sleep, figured i'd come on here pick some brains while watching Netflix. I'm liquid, liquiiieeed :) . Please, if you don't add to the discussion and just look to pry out personal information and than match a name for different amounts of money. Consider moving on. Thank you.
IHeartPL
19 Sep 2011
Law / Bringing dollars to Poland, what interest rates can I negotiate? [32]
Haha I wanted to make it simple, its 750k. So can we continue?
Haha I wanted to make it simple, its 750k. So can we continue?
IHeartPL
19 Sep 2011
Law / Bringing dollars to Poland, what interest rates can I negotiate? [32]
Lets say 100k and I convert to PLN right now at exactly 3/1 taking out any fees I end up with 300k. I know that if its a savings account, compounded daily they don't take out the "Belki Tax". But for this I want to look at the "lokaty" and the options are 1-14 days at 2.35%, 1 month at 3% and 6 months at 6% and I keep it there for 3 years.
Lets say 100k and I convert to PLN right now at exactly 3/1 taking out any fees I end up with 300k. I know that if its a savings account, compounded daily they don't take out the "Belki Tax". But for this I want to look at the "lokaty" and the options are 1-14 days at 2.35%, 1 month at 3% and 6 months at 6% and I keep it there for 3 years.
IHeartPL
19 Sep 2011
Law / Bringing dollars to Poland, what interest rates can I negotiate? [32]
I initially wanted to find out about what advantage / disadvantage lets say a 1 month lokata at 3% have over one that is 6 months at 6% and if I hold it for lets say a 3 year term but got off track. I'm having problems calculating this thing for some reason and the way its divided is over a 365 day term? and if you could help me out I'd appreciate it.
I initially wanted to find out about what advantage / disadvantage lets say a 1 month lokata at 3% have over one that is 6 months at 6% and if I hold it for lets say a 3 year term but got off track. I'm having problems calculating this thing for some reason and the way its divided is over a 365 day term? and if you could help me out I'd appreciate it.
IHeartPL
19 Sep 2011
Law / Bringing dollars to Poland, what interest rates can I negotiate? [32]
That scares me a bit. Cutting off these practices is easier said than done, since they're making more money than ever giving out loans. Would you know, where I could get information on the health status of Polish banks? Balance sheets?
Here's an interesting article about a leaked report from Goldman Sachs, good read.
businessinsider.com/goldman-the-worlds-going-to-hell-heres-how-to-cash-in-2011-8
That scares me a bit. Cutting off these practices is easier said than done, since they're making more money than ever giving out loans. Would you know, where I could get information on the health status of Polish banks? Balance sheets?
Here's an interesting article about a leaked report from Goldman Sachs, good read.
businessinsider.com/goldman-the-worlds-going-to-hell-heres-how-to-cash-in-2011-8
IHeartPL
19 Sep 2011
Law / Bringing dollars to Poland, what interest rates can I negotiate? [32]
You're knowledgeable, I hope everything works out for you, in my case I'm betting that a systemic bank failure doesn't happen as it has in other countries not now or hopefully ever. Countries who haven't went through that already (Poland), hopefully will learn off of the mistakes of others (Ireland) and even the US. Nip the problem in the butt and prevent what overspending eventually does to an economy. By the way, looking at the credit % offered in Poland is a complete and disgusting rip off or maybe a common practice in European countries and i'm just not used to such high % credit but people shouldn't allow it, although I'm not sure how hard or easy it is to get credit. Easy = failure at those rates, tougher standards for giving out credit will perpetuate a healthier economy and keep the private debt low.
You're knowledgeable, I hope everything works out for you, in my case I'm betting that a systemic bank failure doesn't happen as it has in other countries not now or hopefully ever. Countries who haven't went through that already (Poland), hopefully will learn off of the mistakes of others (Ireland) and even the US. Nip the problem in the butt and prevent what overspending eventually does to an economy. By the way, looking at the credit % offered in Poland is a complete and disgusting rip off or maybe a common practice in European countries and i'm just not used to such high % credit but people shouldn't allow it, although I'm not sure how hard or easy it is to get credit. Easy = failure at those rates, tougher standards for giving out credit will perpetuate a healthier economy and keep the private debt low.
IHeartPL
19 Sep 2011
Law / Bringing dollars to Poland, what interest rates can I negotiate? [32]
I own properties and will add 1 more soon, I'm looking for something more liquid at this point and Poland has comparatively healthy economy and Debt/GDP ratio. Although, not sure if the Euro will collapse at this point and may not be known for some time, I would love to earn some Lomza beer money. Just trying to figure out, what has a better pay off, Finance was my major in college but i have been out of school for some time and I worked directly in Brokerage and not Banking so I forgot the whole compounding concept. (Ashamed) Thanks for taking your time to respond if everyone is as nice as you guys, I may just have to stay in Warsaw and start looking for work haha.
I own properties and will add 1 more soon, I'm looking for something more liquid at this point and Poland has comparatively healthy economy and Debt/GDP ratio. Although, not sure if the Euro will collapse at this point and may not be known for some time, I would love to earn some Lomza beer money. Just trying to figure out, what has a better pay off, Finance was my major in college but i have been out of school for some time and I worked directly in Brokerage and not Banking so I forgot the whole compounding concept. (Ashamed) Thanks for taking your time to respond if everyone is as nice as you guys, I may just have to stay in Warsaw and start looking for work haha.
IHeartPL
19 Sep 2011
Law / Bringing dollars to Poland, what interest rates can I negotiate? [32]
I should have been more clear, It's going to be a bank to bank transfer, I will not be stashing the cash in my underwear as it is way more than 10k. Now, 1 percent for USD sounds about right, as far as PLN goes, it seems a 1 month will yield about 3%. However, I'm confused about the way its calculated a bit, the money could sit there for 10 years for all I care so the term isn't an issue. So, when I finally convert to PLN is it better to go with a 3% 1 month, over a long term period OR lets say 6 months at 6%. It seems to my that over a longer term period for lets say 2 years + the shorter the term the bigger the pay off? Am I looking at this right? or a 6% every 6 months for a longer term period has a bigger pay off?
When you say 1/4, are you talking about 100, 1M?
I should have been more clear, It's going to be a bank to bank transfer, I will not be stashing the cash in my underwear as it is way more than 10k. Now, 1 percent for USD sounds about right, as far as PLN goes, it seems a 1 month will yield about 3%. However, I'm confused about the way its calculated a bit, the money could sit there for 10 years for all I care so the term isn't an issue. So, when I finally convert to PLN is it better to go with a 3% 1 month, over a long term period OR lets say 6 months at 6%. It seems to my that over a longer term period for lets say 2 years + the shorter the term the bigger the pay off? Am I looking at this right? or a 6% every 6 months for a longer term period has a bigger pay off?
When you say 1/4, are you talking about 100, 1M?