Dually Licensed Jeannie
Dually LicensedForum Replies Created
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Bought silver two years ago at $26 and sold it at $22. Oh well 😔 😟 🙁
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Copper versus Silver. Silver is priced in troy ounces. Copper is priced by the pound. Here’s an informative video about Silver versus Copper.
https://youtu.be/woVhmUpJhvs?si=AR_tbjCuGBxaoeNbhttps://youtu.be/woVhmUpJhvs?si=AR_tbjCuGBxaoeNb
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Silver is still a great buy at $32.00 per ounce. Does it matter if silver price per ounce will surpass $1,500.00 per ounce?
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Silver price per ounce broke out today. Silver price per ounce is $31.77.
https://www.youtube.com/live/X4mgJgvhBkw?si=o3SFGM-dPuf981Ki
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Silver broke out today at $31.77 per ounce. The largest single day increase per ounce of Silver in one day.
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Absolutely adorable 😍
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What is the United States Dollar (USD)?
The United States Dollar (USD) is the official currency of the United States and is used widely around the world as a standard currency for international transactions. It is issued and regulated by the Federal Reserve, the central bank of the United States. The USD is denoted by the symbol “$” and the international currency code “USD.”
Does the Dollar Have Any Credibility?
Yes, the U.S. dollar has significant credibility for several reasons:
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Global Reserve Currency: The USD is the world’s primary reserve currency. Central banks and financial institutions around the world hold large reserves of dollars. This status is supported by the size and strength of the U.S. economy and its financial markets (HousingWire).
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Stability and Trust: The dollar is considered a stable and reliable currency. The United States has a long-standing history of economic stability, robust legal and financial systems, and a strong track record of managing its monetary policy.
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Wide Acceptance: The USD is widely accepted for international trade and finance. Many global commodities, such as oil, are priced in dollars, making it a crucial currency for global commerce.
Does the World Respect the U.S. Dollar?
The U.S. dollar is highly respected worldwide for its stability, liquidity, and reliability. It is the most widely used currency in global transactions and is often preferred for trade and investment due to its widespread acceptance and the trust in the U.S. financial system. Many countries peg their own currencies to the dollar to stabilize their economies.
Is the Dollar Going to be Worthless in the Coming Months or Years?
While it is impossible to predict the future with absolute certainty, the likelihood of the U.S. dollar becoming worthless in the near future is very low. Here are a few reasons:
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Economic Fundamentals: The U.S. has one of the largest and most diverse economies in the world. Its economic fundamentals, including GDP, employment rates, and productivity, provide a strong base for the value of the dollar.
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Monetary Policy: The Federal Reserve actively manages the money supply and interest rates to control inflation and stabilize the economy. This proactive approach helps maintain the dollar’s value over time.
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Global Demand: The demand for dollars remains high due to its role as a global reserve currency and its use in international trade. This demand supports the dollar’s value.
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Historical Precedent: Despite facing various economic challenges over the decades, the dollar has remained resilient. The U.S. has managed through inflation, recessions, and other economic pressures without the dollar losing its status as a global benchmark currency.
However, it’s important to stay informed about economic policies, geopolitical developments, and market conditions that can influence currency values. Diversifying investments and staying aware of global economic trends are prudent strategies for managing potential risks.
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From my understanding, the Federal Reserve Board does not actually print money. The responsibility for printing physical currency lies with the Bureau of Engraving and Printing (BEP), which is a bureau of the Department of the Treasury. Similarly, the U.S. Mint, also part of the Treasury Department, produces coins.
Roles Explained:
- Bureau of Engraving and Printing (BEP): The BEP prints paper money (Federal Reserve Notes) and also produces other security products, such as portions of U.S. passports.
- U.S. Mint: The Mint manufactures coins that are used as legal tender in the United States.
The Federal Reserve’s role in the process involves more abstract forms of money creation, primarily through monetary policy:
Federal Reserve’s Role:
- Monetary Policy: The Federal Reserve controls the supply of money in the economy through monetary policy tools, including setting interest rates and through open market operations (buying or selling government securities to influence the money supply and interest rates).
- Distributing Currency: While the Federal Reserve does not print money, it does handle the distribution of currency. The Federal Reserve Banks issue currency to the public through financial institutions, manage the amounts of currency and coin in circulation, and take damaged currency out of circulation.
In summary, while the Federal Reserve does not physically print money, it plays a crucial role in managing the monetary system and regulating the amount of money in circulation through its monetary policy actions.
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If you are a victim of identity theft, you can dispute to the three credit bureaus and to the creditor after you file a police report. Identity theft can occur during the mortgage loan process if proper precautions aren’t taken. Here are some common ways it can happen and steps to protect yourself:
Phishing Scams Scammers may send emails appearing to be from your lender, real estate agent, or title company to trick you into providing personal information or account logins. Never click on links or attachments from unsolicited emails.
- Mail Theft Sensitive mortgage documents containing your personal data could be stolen from your mailbox by thieves. Use secure mail delivery options when possible.
- Data Breaches If the lender, title company, or other vendor experiences a data breach, your information could be compromised. Monitor your accounts closely.
- Public WiFi Risks Avoid submitting sensitive mortgage information over unsecured public WiFi networks that hackers could potentially access.
- Insider Threat A dishonest employee at the lender or other company could illegally access and misuse your personal data for identity theft.
To protect yourself:
- Never provide personal information unless you initiate contact
- Use strong passwords and enable two-factor authentication
- Monitor your credit reports regularly
- Opt for secure electronic delivery of documents when possible
- Consider credit monitoring services or freezing your credit
- Be wary of any unsolicited mortgage-related communications
Staying vigilant about protecting your sensitive information, monitoring your credit/accounts, and only sharing data through verified secure channels can help prevent identity theft during the mortgage process. Yes, you can still apply for a mortgage if you have been a victim of identity theft, but there are some important steps you’ll need to take:
File a report with the Federal Trade Commission (FTC) and get an Identity Theft Affidavit. This official document will help prove to lenders that you were a victim.
Place a fraud alert or freeze your credit reports with the three major credit bureaus (Experian, Equifax, TransUnion). This will make it harder for thieves to continue opening accounts in your name.
Get copies of your credit reports and go through them line-by-line. Dispute any fraudulent accounts or inaccurate information directly with the credit bureaus.
Provide a personal statement to mortgage lenders explaining the identity theft situation upfront when you apply. Include copies of supporting documents like the FTC affidavit.
Consider getting a credit monitoring service to keep an eye on your credit going forward during the mortgage process.
Be prepared for additional scrutiny – lenders will likely require more documentation from you to verify your identity and information.
The mortgage underwriting process may take longer due to the additional verification required. You’ll need to demonstrate that you have cleared up any fraudulent items and re-established good credit in your own name.
It’s also a good idea to check your credit reports periodically during the mortgage process to ensure no new fraudulent activity has occurred.
While being a victim of identity theft creates extra hurdles, being upfront and following the proper identity restoration steps can help you successfully obtain a mortgage. Communication with your lender is key.
Here is a blog about identity theft: https://gustancho.com/identity-theft/
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This reply was modified 11 months, 1 week ago by
Sapna Sharma.
