1.93's A$ to the Pound!!!
Mar 30th 2010, 11:27 am
#1546
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Joined: Jul 2008
Posts: 823
Re: 1.93's A$ to the Pound!!!
Given all of the discussion above;I'm going to be very controversial.Given the sentences handed out to the rio tinto people yesterday and the almost resounding silence from the Oz gov't---is this proof that Australia is now an economic/financial province of China in all but name.He who pays the price calls the tune??.China is the new Pacific colonial power arbitarily imposing its will.I throw this out with a view to discussion,not that I necessarily believe it.
Mar 30th 2010, 11:35 am
#1547
Lost in BE Cyberspace
Joined: Mar 2003
Posts: 9,397
Re: 1.93's A$ to the Pound!!!
Given all of the discussion above;I'm going to be very controversial.Given the sentences handed out to the rio tinto people yesterday and the almost resounding silence from the Oz gov't---is this proof that Australia is now an economic/financial province of China in all but name.He who pays the price calls the tune??.China is the new Pacific colonial power arbitarily imposing its will.I throw this out with a view to discussion,not that I necessarily believe it.
Mar 30th 2010, 12:20 pm
#1548
Account Closed
Joined: Jun 2005
Posts: 9,316
Re: 1.93's A$ to the Pound!!!
Given all of the discussion above;I'm going to be very controversial.Given the sentences handed out to the rio tinto people yesterday and the almost resounding silence from the Oz gov't---is this proof that Australia is now an economic/financial province of China in all but name.He who pays the price calls the tune??.China is the new Pacific colonial power arbitarily imposing its will.I throw this out with a view to discussion,not that I necessarily believe it.
There's only so far you can protest against another country's justice system. See Justice Hiller B. Zobel rebuke to Louise Woodward's parents for an example.
Last edited by MartinLuther; Mar 30th 2010 at 12:24 pm.
Mar 30th 2010, 12:24 pm
#1549
Bitter and twisted
Joined: Dec 2003
Location: Upmarket
Posts: 17,503
Re: 1.93's A$ to the Pound!!!
These guys were hung out to dry....can't let loyalty to staff (or citizens) get in the way of trade can we?
Mar 30th 2010, 12:40 pm
#1550
BE Forum Addict
Joined: Jan 2009
Posts: 1,872
Re: 1.93's A$ to the Pound!!!
Move back to the UK as a retiree.
Make a few quid, live back in the dull, dark, long winters.
As a retiree, living off investments at 0.5% interest rates.
Leaving behind all the things you came to Aus for and going back to all the things you left for
Just for a few quid
Stu
Make a few quid, live back in the dull, dark, long winters.
As a retiree, living off investments at 0.5% interest rates.
Leaving behind all the things you came to Aus for and going back to all the things you left for
Just for a few quid
Stu
Mar 30th 2010, 1:18 pm
#1551
Account Closed
Joined: Jun 2005
Posts: 9,316
Re: 1.93's A$ to the Pound!!!
1. You asked did house prices drop between 1990-91 recession yet interestingly you only provide figures from 1991. You then change your parameters to 1990-1996.
2. I have not once said it is a FACT that Australia will go into recession even though Glen Stevens declared Australia actually in Recession in April 2009 before the Government Stimulus began giving the effect of a 10% pay rise to all Australians.
3.I actually stated this; "In my opinion a recession will hit Australia and if so it has to be a fact that house prices will drop."
4. OK, I agree that house prices do not always drop during a recession so maybe not a fact. But, so much depends on their affordability during this time. During the 1990-91 recession, housing affordability was 3:1 based on a single income. The current figure if we use the average COMBINED household income is closer to 5:1 or 9:1 for single earner (SYDNEY Averages). The Government is forecasting unemployment to rise into 2010. The RBA raising interest rates to cool the Stimulus spending down. OZ$ strength making immigration less attractive=less demand......... I predict a fall in house prices.
5. Let's just see how this whole thing unfolds and revisit it in Feb-Mar 2010. I will be the first to say I was wrong!
2. I have not once said it is a FACT that Australia will go into recession even though Glen Stevens declared Australia actually in Recession in April 2009 before the Government Stimulus began giving the effect of a 10% pay rise to all Australians.
3.I actually stated this; "In my opinion a recession will hit Australia and if so it has to be a fact that house prices will drop."
4. OK, I agree that house prices do not always drop during a recession so maybe not a fact. But, so much depends on their affordability during this time. During the 1990-91 recession, housing affordability was 3:1 based on a single income. The current figure if we use the average COMBINED household income is closer to 5:1 or 9:1 for single earner (SYDNEY Averages). The Government is forecasting unemployment to rise into 2010. The RBA raising interest rates to cool the Stimulus spending down. OZ$ strength making immigration less attractive=less demand......... I predict a fall in house prices.
5. Let's just see how this whole thing unfolds and revisit it in Feb-Mar 2010. I will be the first to say I was wrong!
Mar 30th 2010, 10:06 pm
#1552
has lost The Game
Joined: Apr 2005
Location: Chippendale, Sydney
Posts: 8,735
Apr 11th 2010, 6:47 am
#1554
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Joined: Feb 2008
Location: Hope Island, Gold Coast
Posts: 1,920
Re: 1.93's A$ to the Pound!!!
Not saying its going to happen but...
"George Soros says further devaluation an option for the next UK govt" http://www.bloomberg.com/apps/news?p...3SK8lHoI&pos=7
"George Soros says further devaluation an option for the next UK govt" http://www.bloomberg.com/apps/news?p...3SK8lHoI&pos=7
Apr 11th 2010, 11:29 am
#1555
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Thread Starter
Joined: Jun 2008
Posts: 730
Re: 1.93's A$ to the Pound!!!
Not saying its going to happen but...
"George Soros says further devaluation an option for the next UK govt" http://www.bloomberg.com/apps/news?p...3SK8lHoI&pos=7
"George Soros says further devaluation an option for the next UK govt" http://www.bloomberg.com/apps/news?p...3SK8lHoI&pos=7
And you can bet during that 1992period he had many doom and gloom comments for sterling published in the papers etc!!! Nice to have that sort of power!!!
Shame he doesn't have billions sat in £'s and wanting to emigrate to Oz as he would talk up the rate for all of us then!!!
Apr 11th 2010, 11:53 am
#1556
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Joined: Feb 2008
Location: Hope Island, Gold Coast
Posts: 1,920
Re: 1.93's A$ to the Pound!!!
Soros will always talk down a currency he has an interest in - read the article he made $1billion in 1992 being short on the £!!! He'll be heavily invested against £ now too!
And you can bet during that 1992period he had many doom and gloom comments for sterling published in the papers etc!!! Nice to have that sort of power!!!
Shame he doesn't have billions sat in £'s and wanting to emigrate to Oz as he would talk up the rate for all of us then!!!
And you can bet during that 1992period he had many doom and gloom comments for sterling published in the papers etc!!! Nice to have that sort of power!!!
Shame he doesn't have billions sat in £'s and wanting to emigrate to Oz as he would talk up the rate for all of us then!!!
I'll keep stacking my Gold for now, all currencies are going to zero.
EDIT - Saw the image below recently, summs it up wonderfully I think
It comes from a 3 part story called "The Sultans of Swap"
Last edited by freebo; Apr 11th 2010 at 12:21 pm. Reason: Added image
Apr 11th 2010, 3:14 pm
#1557
BE Enthusiast
Thread Starter
Joined: Jun 2008
Posts: 730
Re: 1.93's A$ to the Pound!!!
makes sense to talk down gold whilst buying it - creates dip in price = perfect buy in time.
then talk it up when you have filled your position.
I've been talking down the aussie dollar but doesn't seem to work for me - but then I tell my mates and not Bloomberg!!!
Oh to be Soros for a few months
then talk it up when you have filled your position.
I've been talking down the aussie dollar but doesn't seem to work for me - but then I tell my mates and not Bloomberg!!!
Oh to be Soros for a few months
Apr 11th 2010, 4:47 pm
#1558
Banned
Joined: Apr 2008
Posts: 592
Re: 1.93's A$ to the Pound!!!
Well Crow-man,
Just got back to Blighty, just a short stay due to personal circumstances, should be heading back to Oz later this year!!!!!!!!!
But i tell yeh, if you are planning on eating and drinking spending your pound peso's, well me old mate, it ain't gonna be cheap for yeh!!!
If i was you, i would eat and drink as much as you can while you are here in the UK, you know, get real fat, then when you get over there to Oz, go on the wagon and go an a diet. It will save you a fortune, and will save us lot having to read your comments about how expensive Oz is!!!!!!!!!!
It ain't cheap spend the UK peso, that is a given!
Keith
Just got back to Blighty, just a short stay due to personal circumstances, should be heading back to Oz later this year!!!!!!!!!
But i tell yeh, if you are planning on eating and drinking spending your pound peso's, well me old mate, it ain't gonna be cheap for yeh!!!
If i was you, i would eat and drink as much as you can while you are here in the UK, you know, get real fat, then when you get over there to Oz, go on the wagon and go an a diet. It will save you a fortune, and will save us lot having to read your comments about how expensive Oz is!!!!!!!!!!
It ain't cheap spend the UK peso, that is a given!
Keith
Apr 11th 2010, 7:15 pm
#1559
BE Enthusiast
Thread Starter
Joined: Jun 2008
Posts: 730
Re: 1.93's A$ to the Pound!!!
Well Crow-man,
Just got back to Blighty, just a short stay due to personal circumstances, should be heading back to Oz later this year!!!!!!!!!
But i tell yeh, if you are planning on eating and drinking spending your pound peso's, well me old mate, it ain't gonna be cheap for yeh!!!
If i was you, i would eat and drink as much as you can while you are here in the UK, you know, get real fat, then when you get over there to Oz, go on the wagon and go an a diet. It will save you a fortune, and will save us lot having to read your comments about how expensive Oz is!!!!!!!!!!
It ain't cheap spend the UK peso, that is a given!
Keith
Just got back to Blighty, just a short stay due to personal circumstances, should be heading back to Oz later this year!!!!!!!!!
But i tell yeh, if you are planning on eating and drinking spending your pound peso's, well me old mate, it ain't gonna be cheap for yeh!!!
If i was you, i would eat and drink as much as you can while you are here in the UK, you know, get real fat, then when you get over there to Oz, go on the wagon and go an a diet. It will save you a fortune, and will save us lot having to read your comments about how expensive Oz is!!!!!!!!!!
It ain't cheap spend the UK peso, that is a given!
Keith
welcome 'back'
I've decided that I will be taking as little pesos as possible and getting a job to earn some of those platinum coated A$'s!!!!
bit of a pisser having worked for myself for so long but there you go.
Hope you guys brought back some A$'s, you'll be like millionaires around here Rodney!!!!
May 3rd 2010, 12:10 pm
#1560
Melbourne - NE suburbs
Joined: Jun 2008
Posts: 1,032
Re: 1.93's A$ to the Pound!!!
I've found some answers to my questions in this article.
UK pound drops on hung parliament fears
The pound has tumbled to a 10-month low as fears grow the UK will have a hung parliament in the forthcoming election.
http://news.bbc.co.uk/1/hi/business/8543007.stm
UK pound drops on hung parliament fears
The pound has tumbled to a 10-month low as fears grow the UK will have a hung parliament in the forthcoming election.
http://news.bbc.co.uk/1/hi/business/8543007.stm
Think it will make any diff to the rate ?
May 2 , 2010
UK Election 2010: Hung Parliament Still Most Likely Outcome
http://news.suite101.com/article.cfm...utcome-a232579