FRIDAY, NOVEMBER 12, 2010 - G20 NEW Rules for PPP Acceptance: CASH AND AU ONLY!!!
Earlier this afternoon (Fri: 11.12.2010), we were informed that the G20 has just closed the door on using financial instruments such as BG's, SBLC's MTN's to obtain lines of credit. The new rule essentially is, the only acceptable collateral for entry into a program is Cash and AU (Gold). Nothing else.
The rationale is that lines of credit have become more and more difficult to fund, as available money has been dried up. The banks are out of money, and therefore no LOC's are trustworthy to support the necessary liquid capital required of a trader.
I speculate that the only sources of lines of credit will be those private owners of tremendous amounts of cash, who think outside the box and decide to let their capital work harder.
To those who are trying to help clients utilize instruments to get into trade, the door has just closed.
More Info here: http://preconstructioncatalysts.wordpress.com/
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Lynn M. Miller, LMA, LLC
Business Development & Consultation
*The Professional with a Flair!*
Phone: 718.506.2329 - Fax: 718.228.7331
lynnmiller@lmallc.com
Lynn M. Miller, LMA, LLC
Business Development & Consultation
*The Professional with a Flair!*
Phone: 718.506.2329 - Fax: 718.228.7331
lynnmiller@lmallc.com
Posted via email from LMALLC By SocialNetGate
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