(Here is part of what I wrote:
Algebra! It is the curse of me. To this day, I do not understand: x+y=z! Huh?
The odd thing is, my dad was an electrical engineer; thus, algebra was easy for him.
My wife, also, understands algebra. She uses it everyday at her commercial interior design firm.
I even have an uncle who has a phD from HAAV-VAARD who I know understands algebra, too!
But, most of you, are probably just like me. Algebra is a foreign language -- much like currency exchange.
I bring this up because, like you, I read that China devalued it's Yuan. (Please do not try or even think of attempting to explain this to me. I am lost just thinking about it.)
So, as of this AM, one Yuan is equal to $0.16 US.
I suppose this is good. However, since I know very little about currency exchanges, I can only assume that the Chinese government did this to prevent anymore money from leaving China. With the Yuan devalued, I guess it buys less foreign property and/or goods. Am I right or wrong?
So, since this investor's money is coming through China, I don't understand the algebra of it.
How does depositing money into China, thus turning it into Yuan, help you acquire a Las Vegas Resort for less while also gaining more in value?
One day, I will probably understand. But, I am not going to just sit around waiting for the answer to come to me.
I ask because I just received notice from my Co-Broker Partner who lives and works in Australia that the Chinese Government is (essentially) halting any more Chinese firms from investing further in USA Real Estate.
Why? Your guess is as good as mine. From what I've read, the Government fears a cash shortage if anymore Yuan's are converted to Dollars and they leave the country.
(This relates to the algebra problem I mention above. =) )
Anyway, as I sit hear wondering just when this crack down on money exiting China (?) will end, I am hoping to between now and then, my survival mode keeps me aloft.)
The only thing I think right now is closing something.
Did I mention I listed a motel casino? Give me a call if interested in the details.
To Contact David Howes try: davidATdavidhowesDOTnet OR; 7 0 2 5 01 9 3 8 8 AND Please #Follow David on Twitter: @DavidAHowes Have a nice day!