AUD/USD Exchange

[Malifice]

Pretty close to records against the Pound and the Euro too.

Which begs the question, what are you all still doing in the Southern Hemisphere?

Dont look at me man.

It hit 1.10 while I was in the USA.

Good times.

 

[Fire]

Flashed up about a cent an hour ago on the high inflation news.

New record high at 1.106 ish.

The RBA have to start raising rates.

 

[Scotland]

Is raising interest rates really going to stop the currency rising against the USD?

 

[Fire]

Is raising interest rates really going to stop the currency rising against the AUD?

no, its goign to worsen the problem ans send it higher.

However, consider that inflation is well over target and rising with the dollar. Theoretically, the rising purchasing power of the dollar should have a dampenign effect on inflation.

IMO, this is all being underplayed ans something is seriously wrong. If the RBA keeps holding then we are going to have an inflation crisis.

 

[Fire]

Gutless RBA.

Simply gutless.

 

[Scotland]

I don't think increasing the cash rate now would really provide much benefit to the economy. If we want to get the AUD to rise further then it wouldn't hurt, mind.

 

[Mitchell Madness]

So, are the US getting a n extension on their loans, or are the getting more loans?

if it is the latter, wouldnt it be a negative on their economy, and see their dollar weaken more?

 

[Fire]

So, are the US getting a n extension on their loans, or are the getting more loans?

if it is the latter, wouldnt it be a negative on their economy, and see their dollar weaken more?

Its the latter, and yes.

Particularily since they will most likley end up funding it by printing more money, debasing their currency in the process.

 

[Fire]

I don't think increasing the cash rate now would really provide much benefit to the economy. If we want to get the AUD to rise further then it wouldn't hurt, mind.

No, it woudln't help the economy. But it would help inflation.

 

[Mitchell Madness]

Its the latter, and yes.

Particularily since they will most likley end up funding it by printing more money, debasing their currency in the process.

Thats what i thought, however, the US media is adament of it strengthening their economy

 

[Fire]

Thats what i thought, however, the US media is adament of it strengthening their economy

And it probably will, until the next debt is due.

Nothing will stop the US from printing. It costs 1.5 trillion dollars sourced form outside the government to pay for the deficit every year. Thats a phenomenal amount. To put that in perspective, if you were to add up every coin and note in US demonimation on the planet, you would end up with a number between 700-800 billion, or just over half of that deficit. Of course, that doesn't count all the electronic money, which AFAIK they don't even attempt to do.

This amount of money is being freshly minted. Nothing will stop the US dollar from being printed, because nothing else can fund the deficit. While this is good for the economy in the sense that liquidity is still being pumped into the economy, and debts are being paid, and projects are being funded, it does of course spiral. As history has always shown.

We are witnessing the death of the monetary system as contemporary generations know it as. There is no way out from here.

 

[Ghostwriter]

AUD in freefall.

 

[Malifice]

AUD in freefall.

Jeese what a plunge.

 

[Worldheroxx]

This is messed up I live in argentina but get paid in aussie dollars. All big expenses here like rent are in US dollars. In 2008 in the original crisis it fell so fast i lost about 30 % of my money in 2 months.

Now it seems the same thing is going to happen again?? everywhere im reading says its a 'double dip' repeat of 2008.

All big expenses here like rent are in US dollars. I think i ll go today and buy a few thousand of $$ of US dollars

 

[Bigs]

I'm loving it... living in China, getting paid in RMB... and finally some good news... though I'd be willing to think that it'll reverse long before I can cash out...

 

[Ghostwriter]

Can't believe some economists were predicting a rate rise, even 2 this year.

 

[Worldheroxx]

jesus christ it will be below $1 by the end of the day at this rate

 

[Worldheroxx]

Why is it every crisis the aussie dollar tanks, while the money in these third world joke countries stays the same, or actually strengthens

It makes no sense to me at all

 

[Fire]

Why is it every crisis the aussie dollar tanks, while the money in these third world joke countries stays the same, or actually strengthens

It makes no sense to me at all

Because we are seen as a high risk commodity currency.

 

[Worldheroxx]

What does that mean exactly for someone who knows nothing about finance stuff ?

 

[Ghostwriter]

Could see a 98 handle before the day is out, this is hilarious.

 

[Ghostwriter]

Below parity.

 

[Worldheroxx]

i've starting stockpiling US dollars. If the aussie dollars goes down to .70 again i ll make a killing and if it goes back up to 1.10 it wont be a great loss. Now i just need a safe place to keep them all as i dont have any bank account capable of deposing us money

 

[Malifice]

****s sake.

Wrong time to be in London, and not just the riots.

 

[Cousin Jed]

Meant to buy last week. Gutted