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Japan is liquidating foreign assets into Yen, so they can spend it on rebuilding
I hope Japanese tax office start accepting foreign currency directly and spend it directly as well to shaft all those scumbags who are profiting from their disaster just now...
Yen gained over 4% on the pound today. What do you make of that?
On one hand that's much better situation if currency collapses and resource limited country has to import them from abroad.
But on another hand it also shows strength of the dirty spekulators who bet on Japanese subsidiaries taking hard earned money back to Japan - this would mean those companies will buy less materials, food etc - if there was an activity of earning money on blood this is the one...
Local authorities will be able to help first-time buyers struggling to get on the property ladder under a scheme which was launched today.
The initiative is aimed at people who could afford monthly repayments on a 95 per cent mortgage but do not have the big deposit that most lenders are currently demanding.
Under the scheme, local councils would step in and provide a security worth up to 20 per cent of the property's value, which would be held with the lender and on which interest would be paid, enabling the buyer to qualify for a lower mortgage rate.
The individual would still borrow up to 95 per cent of their property's value, while they would also own their home outright, unlike under a shared ownership scheme.
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