Recently a huge turmoil has been in progress as most of you noticed on the foreign exchange markets, stock markets and in global economical view. So for the others that do not know the exact reason of that money-chaos situation, it is the US Dollar and US economy that changed and slowed the world financial growth. The thing is that for an year or so, USD is constantly falling in almost every FX pair (USD/EUR, USD/JPY, USD/AUD, etc) and that is for sure not normaly but is kind of aftermath of the bloodbaths America used to make around the world and the position of the Oil with respect to the U.S positions overseas. Anyway most of you could say, OK, the dollar is going down but it won't wound me because I am trading in EUR and I am in Europe, so me and my finances will remain untouched and unharmed. Well, almost true - in any case whatever financial moves you make with money overseas, the smartest thing to do is to use EUR or at least JPY because of their stable position right now and even in a long-term prediction forecast. But, there is almost no chance for your finances to remain unharmed in a long-term view because of the 100% sure opinion of economical experts that this USD crisis will surely slow the global growth and in any case "the party is over". But, again, please use EUR, GBP, JPY or whatever you like and do not get involved in deals which USD is a main currency.
Another thing that cannot be easily noticed if you are not dealing with corporate finance or large money operations overseas is the change of some money transfer companies' Terms and Conditions because of never seen before amount of Fraud worldwide. And this information by the way was not public, as I happened to reach it through several head central subagent executives dealing with opening new branches of Western Union. According to them, as internal reports show, the amount of fraudalent money transfers to the Eastern Europe, Asia and Africa exceeds the percentage of legal ones. That is the reason for Money transfer companies to tighten up the requirements and rules for international money transfers to insure that illegal money-laundering activities are not being done via their services, and of course for the security of legal money transactions overseas. A new tracking system is know to be developed in order for the money sender and/or receiver to be able to track the money from their source to their destination. There are of course other new things around the money transactions but we will all get informed as soon as they will make them public.
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