Your Questions About Paper Trading Free

Helen asks…

Is it legal to take gold bullion out of Costa Rica?

I have a small amount of precious metals I got in Costa Rica legally, for work I did. It is legal to take it into the USA and Canada but it must be declared on entry. Is it legal to carry it out, especially now that C.R. has signed the free trade law? What restrictions, if any, are there? I also no loonger have the papers showing how <i got the metals, is this likely to be a problem?

John answers:

Gold bullion is real, honest money…and, many say, the best form of money the world has ever known. It really depends on how much you have and whether it is in bullion, ingots, jewelry or artifacts. Each has it own value and you will have to declare it when entering the US. And if you do not have documents declaring what value it was worth in trading labor for gold, customs will put a value on it.

Gold is considered legal tender, and if that amount is over $9,999.00 customs will report it to the IRS and you will also be taxed on it. It will also probably raise a red-flag, since gold is used as tender/currency in illegal transactions (drugs, guns etc) unless you again have a legal document that says else wise.

If your amount is under $10,000, and it is in some type of Government issue, like the Krugerrand Gold Coins, or bars, you should have no problem taking it out of CR.

Michael asks…

Is our federal government in a secret agreement with Mexico to receive their immigrants?

It appears that Mexico has decided to send all of their criminals, deadbeats, and undesirable citizens to the United States. And our government agreed to accept these people so that they can become cheap labor to do “the jobs that Americans don’t want to do.” (I love that phrase!)
Maybe this “agreement” is not so secret. It actually began with President Clinton’s North American Free Trade Agreement, (NAFTA). (That was just one of his many ineternational blunders.) And now it is being accelerated by President Bush. If things keep going the way they are America will have no sovereignty left. What do you think? Is the Mexican government and the U.S. government in a shady agreement here, or is this just a bunch of people who happen to be over running the Southern border at the same period of time? Why aren’t the two governments doing more to stop this than just pushing paper around in Washington? Give me your opinion and why you feel the way you do.

John answers:

Probably….why do you think they’re having hearings today on Ramos and Campion? It was the Mexican Gov’t that instituted the investigation…..

“……..no criminal investigation of the agents began until after the Mexican consulate complained the agents violated Aldrete-Davila’s civil rights by shooting him without warrant…..”

“…..The hearings were called after Rep. Dana Rohrabacher, R.-Calif., ranking member on Internal Organizations, Human Rights, and Oversight of the House Foreign Affairs Committee, expressed concern about possible foreign influence in the prosecution.

The government has not disclosed all communications between the Mexican Consulate and the U.S. Government concerning the Ramos-Compean case…..”

Ken asks…

whats the most complicated and interesting political issue going on right now?

i’m doing a paper on this and i want to make it as hard as possible so none of the generic like abortion death sentence economy immigration drugs free trade etc. thanks!!

John answers:

Russian influence on recent elections and the possible destruction of the constitution of Kyrgyzstan.

David asks…

What are some of the benefits of Trade?

I’m having trouble gathering statistics that show the benefits of free trade, whether it be intra-national or international. I’ve found a lot of stuff from previous years, but the catch is I need information dated within the last year to use in my paper. Does anyone know some good websites where I can find data supporting free trade and how it benefits nations/people that is also published within the last year?

Thanks

John answers:

Enhances the domestic competitiveness
Takes advantage of international trade technology
Increase sales and profits
Extend sales potential of the existing products
Maintain cost competitiveness in your domestic market
Enhance potential for expansion of your business
Gains a global market share
Reduce dependence on existing markets
Stabilize seasonal market fluctuations

William asks…

Isn’t it terrible that the world is moving on without America?

While everyone sits around and cries about the money. We already put other nations in control of it.

It is too late to listen. The damage is done

When you have a $763.6 billion trade deficit, much of which is with one country that unfairly subsidizes many of its industries what do you do? You fight back.

This is the story of the United States and China, a story of one way free trade, unfair government subsidies by the Chinese, and the American paper industry that has suffered from it. And this is a story of the US government finally starting to wake up.

China has been subsidizing its key industries for years in total violation of WTO agreements, giving them an unfair predatory edge and making it near-impossible for US industries to compete.

John Engler, president of the National Association of Manufacturers, was quoted in a recent CNNMoney article talking about the subsidy practices of the Chinese, “Many manufacturers tell me that Chinese products sell for less than the cost of the raw materials in the product, meaning that they are likely being subsidized.”

China wielded its unfair trade advantage in the open access it had to the US market, which imported 20% of its paper products in 2005. As such, American industries including Dayton, Ohio based NewPage took notice and demanded that a tariff be put on the estimated $224 million of paper goods from China coming into the US, to make the trade fair.

U.S. Commerce Secretary Carlos Gutierrez announced at the end of March that a tariff of 10.9 to 20.35 percent would be put on “coated-freepaper coming from China into the US. The tariff aims to ‘level the playing field’ between the unfair practices in China towards the US and reverses a 23 year old non-tariff policy on cheap goods coming from non-market countries, CNNMoney reports.

More importantly this is a first step. American industry can not compete with unfairly subsidized industries from countries like China. The result of further inaction would see US industries being put out of business due to unfair predatory foreign competition as well as a continued growing dependence on foreign creditors purchasing American debt to finance the booming trade deficit.

Contact your local Congressman and let them know that American industries, just like the paper industry, are worth protecting from unfair overseas competition. America has to get beyond just talking tough about China and implement a tit-for-tat policy plan that reprimands China for their unfair actions.

Any new policy will be tough to get off the ground however, due to China’s influence via their US debt holdings, their powerful lobby within the business community, and 1.2 trillion in US currency reserves- by which they can buy any American company that gives them much competition. As a result of this, America at every level is finding it extremely difficult to compete. Ask your congressmen what they are going to do about it.

John answers:

A lot of what is said here is true. Although realistically, I’m not certain China did “level the playing field” through unfair tariffs. The trade imbalance was more due to China not having a middle class economically as strong as America’s middle class.Their middle class was not capable of matching American buying power, in addition to being a more savings oriented society, then get it now, pay later, like America has adopted.

Much had to do with China’s economic stimulus, was much better macro managed and effective than ours. Obama was community organizer with no economic experience and his top economic adviser was a micro-economist not a macro guy.

This problem is playing out in full now. Obama seems dazzled by the brilliance of Larry Summers when the reality of Larry Summers is that he is a rabid Keynesian who doesn’t know how to do anything other than stimulate the demand side of the economy while the supply side of the economy withers and dies.

Meanwhile, Treasury Secretary Geithner is no more than a competent bureaucrat when in this time of crisis what is needed is someone with extraordinary skills. Of course, the third part of that brain trust is the dollar-debasing Bernanke. So many smart people making so many dumb choices — it boggles the mind.

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