Yuan bank accounts now available

Citigroup has just announced that it will offer customers of its London branches yuan-based bank accounts, for the first time ever.Is the yuan making a move towards reserve currency status?
Here are some facts
— Chinese banks get the green light to open branch offices in the U.S.
— Taiwan cut the U.S. dollar out of the middle in its trade with China
— London’s major banks enter into a joint effort with Beijing to make London a major yuan trading center
— Japan and China sign a deal to trade yuan directly, eliminating the U.S. dollar as an intermediary
— And now, Citigroup offering yuan-denominated bank accounts in London.

And we’ve even seen the International Monetary Fund and our own Treasury Secretary Geithner officially back Beijing’s bid to make the yuan a reserve currency.

ETfs vv. Etns

Those same investors can choose from more than 1,400 ETPs, a term that includes funds, trusts and unsecured notes, according to data compiled by Bloomberg. Exchange-traded notes, the equivalent of bonds, are unique among ETPs in that they aren't backed by a pool of holdings owned by shareholders. They represent merely a promise to pay a return, defined typically by an index.
Derivative-based ETPs and ETNs have swelled since they were introduced in 2006 to $58.8 billion, accounting for 4.9 percent of ETP assets in the U.S. The SEC in 2010 stopped approving new funds, including ETFs, that make significant use of derivatives, pending a review. The suspension doesn't affect products such as ETNs that aren't registered under the 1940 Investment Company Act.

The new asset protection strategy

Executive-liability insurance is often the first line of financial defense for executives and directors caught up in litigation such as investor lawsuits. For others without such coverage, asset-protection trusts are the way many insulate their wealth from claims.
"For a businessperson who's in a competitive environment in which you see a lot of business litigation, I would say it's prudent planning," said Duncan Osborne, a partner with Osborne, Helman, Knebel & Deleery LLP in Austin, Texas. "That lawsuit's coming sooner or later."
Wealthier households use the asset-protection trusts, umbrella insurance and holding assets through special corporations to shield their legacies if they're sued, according to estate planners such as Osborne. Trusts are "far and away the most popular strategy," said Joshua Husbands, a partner with Holland & Knight LLP in Portland, Oregon.
Trusts often are funded with liquid assets such as stocks and bonds, and may be appealing because individuals who establish them may also take distributions if they need to, while the assets are generally out-of-reach from future creditors. They won't offer protection if a defendant creates a trust after a potential claim has already arisen.
Directors and officers increasingly are being named in investor lawsuits. About 64 percent of federal securities class- action suits filed in 2011 named board members as defendants, compared with about 35 percent in 2008, according to New York- based PricewaterhouseCoopers LLP. Asset-protection trusts are sometimes used to supplement their liability coverage, also called directors and officers insurance.

Weapons-Grade Plutonium found???

After 50 years of searching, physicists have spotted the fingerprint of radioactive plutonium, revealing the secrets of this complex molecule behind nuclear weapons .Now after decades of searching, scientists working at Los Alamos National Laboratory and Japan's Advanced Science Research Center have cracked it. Koutroulakis and Hirsohi Yasuoka led a group that used plutonium dioxide cooled to near absolute zero to find the telltale signal of plutonium.

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Unemployment Declines

The U.S. unemployment rate in April was 8.1 percent, down from 8.5 percent in December. Lenders have begun to loosen the reins on credit as bank balance sheets have improved, a trend that will boost investment throughout the economy. Dont miss the recovery !!!!

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life settlement market improves

The Life Settlements market has survived the incredible downturn in financial markets. Large investors have snapped up distressed portfolios and money and liquidity is now returning to the secondary market in these alternative investments. The remaining players are stronger than ever!

july 9 2012 could this be the day of the great pc and mac crash?

A trojan that tricks computers -- both PCs and Macs -- into redirecting all their Internet traffic through malicious servers may crash millions of computers on july 9, 2012. The trojan, called DNS Changer, redirects your computer's DNS queries from your ISP's server to one created by the trojan's creators -- essentially hijacking all Internet traffic from your machine. That way, the bad guys can send you to hacker-created websites filled with ads whenever they want.If you want to check your Pc go to DNS checker website.

new type of reverse mortgage now available

The new federally insured Home Equity Conversion Mortgage, or HECM Saver, allows holders to establish a credit line but not draw on it unless the funds are needed. Payments on interest can be made when the holder chooses to do so or they can be deferred until the home is sold.This new type of reverse mortgage may help retirees preserve cash for portfolio investments. Unlike traditional reverse mortgages that provide a lump sum payment, the HECM can provide cash when needed, such as when the markets are down. This prevents the stockholder from having to sell stocks at a loss to get cash. The HECM can then be paid back when the markets recover.

Edelman Financial Group goes private!

The Edelman Financial Group annouces today thT IT is entering into a transaction with Lee Equity Partners to go private in a transaction valued at about $260 million, or $8.85 a share. Lee Equity, is paying a 43% premium over Friday's closing price for the wealth management company.
In a press release, the company said a special committee of its board of directors will solicit alternative transactions for the next 40 days to determine if they can obtain a better offer. Management of TEFG, who reportedly own 26% of the shares outstanding, have agreed to vote for the merger. Edelman's own wealth management firm, Edelman Financial Services, generates about 50% of the revenues and profits for the firm.