4passiveprofit.com

mikey answers:

Hi
Yes and no.

Its not the same as the day trader scenario because the day trader actually has assets (shares) behind his stock certificates!

‘short selling’ is actually the purpose of fractional reserve banking – to create more money.

When fractional reserve banking is used, a bank must have 10% of what they are actually lending out. This is recognized as standard banking practice in many countries. So if they have $100 in cash, they can issue $1000 in bank loans. But when this $1000 is paid back, they still only have $100 cash, they can then lend this out as $1000 again, not as 10,000.

But here is why fractional reserve banking does suck:

because you are paying interest on the full $1000 of that loan, the bank is raking in all the profit and only having to pay a small amount of that back to its depositors, who only actually deposited $100.
On an 8% interest loan, the banks return is not 8%, its 80%.

And here is why fractional reserve banking really sucks:

90% of money can be (and probably is) created through fractional reserve banking, with interest charged on all of that.
Put simply, for every dollar there is an attached amount of interest that must be paid back, in dollars.
But, how can you ever pay back interest in dollars, when the person you borrowed from creates all the dollars, and is not willing to give you interest free loans?
You can only pay the interest by borrowing more money, with more attached interest. Never ending debt.

Bottom line: you can never get out of this cycle of debt without serious monetary reform, such as repealing the federal reserve act 1913 and having the government create its own, interest free money, as its given the right to in the constitution.

Hope this helps

mikey answers:

No, you cannot change the bank information once the return is accepted by the IRS. This is an anti-fraud measure.

If the account is no longer active your rebate will be rejected by the bank. When that happens it will be returned to the IRS. The IRS will then re-flow your rebate payment for payment by check that will be mailed to the address on your 2007 tax return. If you have moved since filing your 2007 return, file a form 8822 with the IRS to notify them of your new address. Also put in a change of address notice with the Post Office. The Post Office WILL forward rebate checks if you have a change of address on file with them.

mikey answers:

First off, “investment bank traders” are now largely a thing of the past (or soon will be). Proprietary trading has been declared illegal so investment banks are no longer allowed to hire traders to trade for the company’s account. Instead, the old trading departments are being spun off and labeled as asset management divisions or becoming hedge funds with close ties to their former parent companies. Secondly, the relative pay between bankers and traders doesn’t follow an overall pattern. Pay is based off of many things: experience, division, performance, etc. . .Initially, traders seem to make more than Investment bankers because traders are allowed to perform tasks which actually add value; they trade while the i-bankers do the grunt work on pitch books based off of financing put together by more senior bankers. Over time though, the bankers begin to take on more responsibilities and have greater upward mobility. Once you rise above the rank and file and can start doing some creative work with things like M&A (which is great because the pay-offs for the bank are huge while the risks are non-existent, unlike in trading).

I can’t tell you an average pay for traders since the numbers vary so much, but the following should give you a feel for the general amount of money available:
1. As a first year analyst (banker) Goldman will pay you around $120k (bonus and salary)
2. After 2 years as an analyst you become eligible for larger bonuses and generally receive a title to make you feel better (like vice president). . .last year the average for goldman sachs employees was just under $600k (salary and bonus)
3. After you move beyond the VP stage you become a Managing Director; at this level you are likely making right around $750-$800k (salary and bonus)
4. Finally, after being an MD for around 10 years, most people are offered the position of Partner. The average junior Partner makes around $1m-$3m and the average normal partner makes between $3-$6m.
6. In 2006, the CEO made $65m

When traders start out they have a relatively small salary but are eligible for large bonuses. The only really concrete number I have for this is that Lehman Brothers used to pay it’s traders $1m for every $20m they made for the company.

I hope this was helpful. . .are you wanting to go to Wall Street?

mikey answers:

The main thing to understand is that banks create money via the issuance of credit. Usually when people think of a bank, they think that the bank takes your money as deposits and then simply lends it back out. That’s actually not quite the case. Banks use your deposits as the basis upon which they are allowed to create new credit. It’s hard for people to believe that things work like this but the reality is that if the bank has deposits of $1,000,000 then the bank is allowed to create money by issuing $10,000,000 in loans. The reason why banks want deposits is because, based on the criminal concept of fractional reserve banking, they can literally manufacture money out of thin air.
This is how the central banks (which are basically just cartels of the commercial banks in each respective country) of the world work. It is a system that has come under much scrutiny and criticism of late and rightfully so. It’s the reason why Henry Ford said this of banking:
“It is well enough that people of the nation do not understand our banking and monetary system, for if they did, I believe there would be a revolution before tomorrow morning.”
The history of banking in the US is one of much controversy and acrimonious fighting between the likes of Andrew Jackson and the Bank of the US. Part of the reason is because, as Andrew Jackson observed, the central banking model that was being posited would have the net effect of concentrating wealth in the hands of a few bankers.
You may do well to go to look up the Ludwig von Mises institute online and look at some of their really insightful books on money and banking. One such book is HOW PRIVATIZED BANKING REALLY WORKS. There are also videos online for which you may search. One is called “The Money Masters.”
The history and criticism over central banking and fractional reserve banking has too long been hidden from students such as you. There are powerful interests that would rather most people didn’t understand these concepts. I hope you will research more and I hope that this has been somewhat helpful for you.
Best,
E

mikey answers:

Better plans to help college students save would be awesome. Maybe a higher interest rate in savings accounts. College students struggle with all the fees they have to pay and any way to help them save up extra cash would be helpful. Also, maybe holding classes on how to file your taxes. It’s more educational when the person does it themselves rather than taking it to the local HRBlock. Being able to check our account online is always convenient, and if there’s some way to check it through text messaging that would be even better.

mikey answers:

Growth simply refers to how the money in your account accumulates rather than stays the same each and every month. Reserve is a generic term for a type of savings, whether short term or long term, bonds, etc. Reserve typically offers the highest return.

Hope this Helps.

mikey answers:

Names given to things ( eg. Passbooks) have very little meaning without context ( the particular school )
But giving out that detail would ruin your privacy, so the best solution is simply to ask someone… Teacher, fellow student, etc.

mikey answers:

I have answer to this. What is the SKR issued against? I need a few more details and the amount of money to be issued on the SKR before I can offer a certain solution.

mikey answers:

Bank – a financial institution that accepts deposits and channels the money into lending activities

Credit Card – a card (usually plastic) that assures a seller that the person using it has a satisfactory credit rating and that the issuer will see to it that the seller receives payment for the merchandise delivered

A home loan is a type of mortgage. Mortgage is a loan to purchase a property. A mortgage loan uses the property as collateral to guarantee repayment of the loan. The borrower gives the lender a lien against the property, and the lender can foreclose on the property if the borrower does not repay the loan per the agreed terms.

mikey answers:

My understanding is the ledger balance includes transactions that have not officially “cleared” the account. Most banks put a hold on certain deposits. So you may have a deposit that shows up in the ledger balance but does not appear under the available balance.

mikey answers:

You are correct—Toyota is in the news today due the finding that the beleaguered auto maker has been galloping through the streets of China while also doing really well in its homeland of Japan.

I’m a Toy fan and believe the company will easily weather the storm of the moment and again prevail as a global auto leader. Ford will enjoy increased market share but there’s plenty of room for both in an ever expanding industrialized world.

Len

mikey answers:

Sure. If you have $25,000 in your account or if you do it less that a certain number of times in a given period. I forget the exact numbers.

mikey answers:

So far, the gov is guaranteeing that you can’t lose money if you are a bank or broker. Individuals who buy stocks still can lose money.

I have 2000+ posts that will prob teach you everything you need to know about investing – at least the basics and some history.

You’ll have to add me to your “fans” list to see my posts.

mikey answers:

For the right mining company, buying their stock is a way to play the rise in gold, silver, etc.

When the cost per ounce from extraction to finished product, which does not usually vary, is much lower than the market price per ounce, the difference between the two is pure profit.

mikey answers:

Buy the book “The Successful Investor” by William O’Neil and read it over and over until you understand it. Otherwise you are not ready to be investing. You won’t know how much and when to get into certain positions, when to take profits or add more, and when to get out. You might get lucky, but chances are you will eventually lose, and lose big. The top ten I’d buy now are: CHK, JOYG, POT, RIO, FCX, AEM, V(when it comes out) ETF’s: USO, GLD, EWZ

mikey answers:

Pure profit margin is selling price minus material cost variable and fixed cost.

mikey answers:

Gross Profit / Sales = Gross Profit Margin
Gross Profit / 4,000 = 20%
Solve for Gross Profit
Gross Profit = $800

From this, you can also get Cost of Goods Sold
Sales – Cost of Goods Sold = Gross Profit
4,000 – Cost of Goods Sold = 800
Cost of Goods Sold = $3,200

mikey answers:

Profit = Revenue – Cost

Profit Margin = (Profit / Revenue) x 100

mikey answers:

Answer:

Just divide net income by the weighted average number of shares outstanding.

mikey answers:

Cost 100 – Mark up 50% – Sell Price 150 – Margin 50 – 33% of Sell Price

Cost 100 – Mark up 100% – Sell Price 200 – Margin 100 – 50% of Sell Price

No formula required. Just work it out.

mikey answers:

You can go to http://convertersoft.com to download a converter.
I personally use ultimate DVD + Video converter suite.
It works very well

mikey answers:

Hughes trans. They sell performance parts , i have used them before. Check out there Webb site. Hughesperformance .com

mikey answers:

Yea there is a guy online looking for it, cause someone stole his, where you at? He wants to come to your house and have dinner and a beer party BIKER STYLE!!! WE already turned you in buttplug, its only a matter of time now LOL

mikey answers:

1 leu(leu= Romanian currency that would be translated as lion but isn’t cause you don’t translate currencies) = 29 cents.

1 leu = 100 bani like $1=100 cents so 50 bani is only 14.5 cents. Disappointing, no? ))

mikey answers:

Http://www.runehq.com

Best site ever made for runescape users

mikey answers:

Still not earning any money. . Start now and reap huge profits…
No investment , no experience , just a desire to earn more is enough…

Go To http://www.nowmakemoneyonline.com To Earn 1000$ A day

mikey answers:

Id say sell food. EVERYONE likes food! During all lunch hours have a bake sale! But first, announce it loud on the intercom BEFORE you ave it, otherwise ppl wont bring money. Because idk bout you, but our cafe gives us like 1 or 2 deserts when we eat and most everyone has a sweet tooth. Sell cookies, brownies, etc. If baking stuff at home is too much of a hassle, ask the chefs/cooks if you could use stuff in their kitchen between classes. Like whenever you finish your work or have free period, go down there. Course you’ll ave ta buy some products: lotsa sugar, coco, creme, frosting, etc. Ask around if ppl have recipes for stuff that doesnt take alot of ingredients or $. And you’ll ave to make a profit so lets say it took 30 cents to make one brownie. Sell the brownie for… 50 cents and you”ll earn 20cnts each brownie (50-30=20).and sell food like pizza,popcorn,candy bars,cake/pie,etc. At sporting events and other school gatherings: parent/teacher conferences, dances, and so on. But be sure to give water free. Most ppl prefer soda so you could buy cans of soda and sell em each for 1.00. Thatd be a BIG profit. Especially at dances. If you dont giv free watr, ppl think ur all: GIVE ME MONEY OR YOU DIE!!! Plus theyll be more likely to come back for more water, than go to the fountain, and see delicious brownies and cookies and….root beer (i LOVE root beer!!!) and buy that. Speaking of my fav pop. Do a survey at school: whats your fav soda pop? Coke pepsi ROOT BEER! Mountain dew… (be sure to limit the choices 2-3) and do that with the food too: do you like brownies more than cookies? Cake over pie?

HOPE I HELPED!!!!!!!!!!!!!!!!!!!!!!!!!

mikey answers:

If your collections are vintage magazine titles in mint condition, private collectors will buy them, though I highly doubt you have them.

The comic magazines you have now will be worth even less than what you’ve paid for, so a sorry on that as well.

Best way to make money? Attend school, because knowledge is the most powerful arsenal for your survival in the real world, and if you skip classes now you’re going to regret it ten years later.

As that saying goes – the pen is mightier than the sword.

mikey answers:

It should say who you are to make the money order out to, check your form that you filled out and in small print probably it will be there

mikey answers:

There are various ways to monetise your site, for instance there are a couple of companies that will pay you a regular income for hosting three banner adverts on an approved website – just submit three URL’s to them and they will send you some HTML code to add to the site if they approve it.
Other ways are all various forms of advertising, there is a company called Linkworth who will suggest advertising rates to you based on the hits your site receives. They notify potential advertisers and may offer your some additional adverts.
For a fuller description, please visit the ‘monetise’ section of my website here:

http://www.livewyre.net/monetise.php

Hope this helps

mikey answers:

Http://www.cambridge.org/catalogue/catalogue.asp?ISBN=0521850134
(search for A History of Central Banking in Great Britain and the United States)

http://en.wikipedia.org/wiki/Economic_history_of_Britain (search for economic history of Great Britain)

mikey answers:

Use the card to your advantage. Get one that doesn’t charge you till the statement date. Charge things on it and make sure you pay them off before the due date, you don’t pay a cent of interest and you use their money for almost a month, “Interest Free”, it’s not always about them soaking you if you use them the right way!

mikey answers:

7 years

mikey answers:

Well, Wikipedia might be a good place to start and it is in the public domain.

mikey answers:

Here are some websites that you can start with:

http://www.answers.com/topic/banking-in-india

http://www.chillibreeze.com/articles/BankinginIndia.asp

http://en.wikipedia.org/wiki/Banking_in_India

mikey answers:

They may not have the perfect round shape of having them piped, but the dough should puff and rise anyways, since it’s the butter that makes the dough so airy. I’ve used large freezer bags as piping bags — just cut a larger opening in the corner and it works fine, since you’re just concentrating the dough in a little blob, not anything fancy for decoration.

mikey answers:

Yes you can , lower heat, that’s all.

mikey answers:

I don’t think so

mikey answers:

Skip the wine and have a Guinness stout with dessert.

mikey answers:

A profiterole, cream puff (US) or choux à la créme is a choux pastry balls filled with whipped cream, pastry cream, or ice cream. The puffs may be decorative or left plain or garnished with chocolate sauce, caramel, or a dusting of powdered sugar.

The term profiterole is traditionally used for small versions filled with whipped ice cream and topped with chocolate although the usage varies and can include other fillings.

ズ丂╋乇ﾚﾉｲﾑ

mikey answers:

I have positions in over a dozen stock, most (but not all) or which are long.

I also have positions in over a dozen stock options, most (but not all) of which are parts of spreads.

My hot stock picks would be most likely to be financial companies that have been oversold.

mikey answers:

Haven’t you noticed? It’s done nothing but drop. It started dropping when Obama got into the race. It will probably keep dropping to about 6500 before its done. Sure there will be up days, but it is going to trend down for a while.

The wealthy are taking their money and leaving the country before the new Obama super tax gets pushed through. All those promises he made will be paid for by us working fools that elected him.

Obama told us that we wouldn’t see one dime increase in taxes. He didn’t want to say that it was going to be a dime a minute deal. It will be thousands a year for each of us.

mikey answers:

You should have received regular documentation, including confirmation of the number of shares you own, and your own exclusive shareholders number, either from the company, or from a stock exchange sponsoring agent. You should also have received dividend payments. If none of this has happened, it’s possible that Meyers & Co. Have purchased the stock in their own name, and you have now lost your money.
If you have been getting dividends, and they were paid to you through Meyer & Co., this confirms what I have suggested.

mikey answers:

Siri SirisXM 52wk high 2.75 low 0.05 now, you have to look it up it’s still on the Nasdaq around .40

mikey answers:

I think you have to play real go-go names if your time frame is that short. Look for mergers that might occur or short those that break-down. Commodities and Tech are where there’s lots of interest. You should also look at the earnings calendar and try to play possible outperformance.

mikey answers:

There are already services like this, usually called “Western Union”, but in today’s world of Online Banking, wire transfers, and Internet Services like Pay Pal, I am not sure one more would be that beneficial, although, in certain markets the name MoneyGram may be significant. You really need to test the area (s) that you are interested in and see what the people think. A marketing research is likely a good tool to use for this.

mikey answers:

100% scam.

That is a fake website pretending to sell cheap merchandise and is run by a scammer.

YES, you CAN and WILL be scammed by paying with Western Union or moneygram. There is NO way to avoid being scammed if you follow through with paying with that method.

Any site that advertises merchandise cheaper than the official manufacture’s website is a fake site shipping gosh awful crappy knock-offs or simply collecting cash and not even bothering to ship fakes.

The pictures on the site look like the real merchandise because those pictures ARE of the official merchandise. Those pictures were stolen from the official manufacture’s website. If you receive anything at all, which is doubtful, it will not resemble those pretty pictures at all.

The payment options say it all, Western Union and moneygram, only anonymous cash payments.

Western Union and moneygram do not verify anything on the form the sender fills out, not the name, not the street address, not the country, not even the gender of the receiver, it all means absolutely nothing. The clerk will not bother to check ID and will simply hand off your cash to whomever walks in the door with the MTCN# and question/answer. Neither company will tell the sender who picked up the cash, at what store location or even in what country your money walked out the door. Neither company has any kind of refund policy, money sent is money gone forever.

In all seriousness, when something goes wrong, what will you do? Send an email that is ignored and blocked? Send chat requests until you are ip banned? Call internationally and speak fluent Chinese?

The UPS, TNT and DHL icons are there only to take up space, that site only ships with EMS, the Chinese post office, good luck getting the “tracking number” they give you to work on the EMS website. You will need even more luck trying to contact EMS when your tracking stops and your “package” is lost somewhere.

You could then be really lucky, your “package” is discovered, seized by “customs” and all you need to do is pay even more money via Western Union or moneygram to the “custom’s official” who uses a free email address just like that site has a free email address as its contact information.

Free email addresses are easy to open and close completely anonymously.

mikey answers:

Whoa there.

First of all, why does your grandma want to make loan payments through Moneygram (which charges a fee) instead of through her bank (which is free)? Before you write any letters, I think it would be wise to investigate this further.

My parents (when they were still alive) where forever getting suckered into budget pays, EZ loans, and whatnot that charged them anywhere from 5%-38% in fees and interest. If you don’t feel comfortable discussing your Grandma’s loan payment situation with her, have your parents step in and help.

So getting back to your request, there are no sample letters for this kind of transaction. What your Grandma is wanting to do is cancel her existing direct debit plan with the bank since she intends to make future loan payments using a third party money service. Period. That’s all the letter needs to state.

mikey answers:

Personally I would say Bank transfer as there is more traceability in this money. In Moneygram there is no recourse at all, and Paypal – well limited with individuals.

However, given the amount of scams online for this kind of thing, I would check with your bank for advice how to minimise the risks and to tread carefully when sending money to someone you don’t know.

mikey answers:

If the individual online prefers payment via paypal, Western Union or moneygram, he is a scammer and aren’t going to accept any other kind of payment. He is either selling gosh awful crappy knock-offs or simply collecting cash and not even bothering to ship fakes.

Western Union and moneygram do not verify anything on the form the sender fills out, not the name, not the street address, not the country, not even the gender of the receiver, it all means absolutely nothing. The clerk will not bother to check ID and will simply hand off your cash to whomever walks in the door with the MTCN# and question/answer. Neither company will tell the sender who picked up the cash, at what store location or even in what country your money walked out the door. Neither company has any kind of refund policy, money sent is money gone forever.

Paypal can only get your money back if there is money left in the scammer’s paypal-linked bank account. Scammers know this and will immediately withdrawal your money and disappear. No money in the scammer’s bank account means absolutely no possibility of refund for you.

Your bank can only get your money back if there is money left in the scammer’s bank account. Scammers know this and will immediately withdrawal the money you transferred. No money in the account means absolutely no possibility of you getting your hard-earned cash back.