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1.93's A$ to the Pound!!!

1.93's A$ to the Pound!!!

Old Mar 24th 2010, 11:34 am
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Default Re: 1.93's A$ to the Pound!!!

Originally Posted by wilf70
Freebo;thanks for pointer to article;very prescient--the question is;when will the manure hit the fan,rather than if it will.All the optimists[re this housing boom is different and we are in Australia away from your problems]should be forced to read this an then try to write an essay in refutation.Frankly I find our collective economic futures one of stark terror--which may[and I hope I'm wrong]be worse than the thirties and we have to go back much longer to get some 'feel' for the depths of the economic woes we are about to suffer[Germany under the Weimer??]Thanks
Glad you liked it, I found it very enlighening too. I also can't argue with any of that, although the "when" is always the 64(trillion?) dollar question. I've been reading kind of this stuff for years and have been moving some of my savings into Gold as a result (wish it had been more but I'm still accumulating).

As I've sold my house in the UK I won't be in a rush to buy one in Australia in the current conditions, but thats another story (and being fully discussed on another thread).
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Old Mar 24th 2010, 1:00 pm
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Default Re: 1.93's A$ to the Pound!!!

Nice article,

If all the content is true and I am assuming it is... hold onto your hat!
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Old Mar 24th 2010, 1:34 pm
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Angry Re: 1.93's A$ to the Pound!!!

Hang onto any article of clothing if it is half true,because we shall all be standing in line at the charity shops/garage sales if it predictions come to fruition
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Old Mar 24th 2010, 9:22 pm
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Default Re: 1.93's A$ to the Pound!!!

You seem to be assuming that the Chinese economy will behave exactly like a Western economy which gets thrown to the 'market' wolves.

China is NOT a free market. It's not allowed to behave like a Western economy. It's basically a dictatorship that can have restrictions placed on it by the State that no Western economy would face.

How would it behave in a global downturn.... well we have just had the worst economic downturn in 70 years. China seemed to do OK out of it
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Old Mar 25th 2010, 10:49 am
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Default Re: 1.93's A$ to the Pound!!!

Originally Posted by iamthecreaturefromuranus
How would it behave in a global downturn.... well we have just had the worst economic downturn in 70 years. China seemed to do OK out of it
All true, but it did dramatically scale back its purchases of commodies, personally I'm not sure we've just had the worst downturn in 70 years, I think we may still in it, and have just postponed its effects!
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Old Mar 25th 2010, 2:56 pm
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Angry Re: 1.93's A$ to the Pound!!!

The fact it is a state run dictatorship is a major part of its problem as the article highlights at some length---economic decisions are made for reasons of party convenience not economic utility
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Old Mar 25th 2010, 3:51 pm
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Default Re: 1.93's A$ to the Pound!!!

1.93 wow, aren't australian notes made from plastic?
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Old Mar 25th 2010, 10:33 pm
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Default Re: 1.93's A$ to the Pound!!!

Originally Posted by lambethdubai
1.93 wow, aren't australian notes made from plastic?
They certainly are. And I see that the exchange rate has now dropped to 1.63.

I guess there must be a shortage of plastic
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Old Mar 26th 2010, 2:00 am
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Default Re: 1.93's A$ to the Pound!!!

Originally Posted by lambethdubai
1.93 wow, aren't australian notes made from plastic?
They sure are. Yet another clever and innovative Australian invention.

Today, Australia is the leading country to issue banknotes printed on polymer substrates. Also the world's leading authority and prints for more than 20 other countries in the world.
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Old Mar 26th 2010, 4:16 am
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Default Re: 1.93's A$ to the Pound!!!

Originally Posted by DownUnderPaddy
They sure are. Yet another clever and innovative Australian invention.

Today, Australia is the leading country to issue banknotes printed on polymer substrates. Also the world's leading authority and prints for more than 20 other countries in the world.
It still stinks though... they should add some lavender oil to the notes.
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Old Mar 26th 2010, 4:18 am
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Default Re: 1.93's A$ to the Pound!!!

Originally Posted by lambethdubai
1.93 wow, aren't australian notes made from plastic?
They are, but I still managed to rip one in half this week.

AND the $2 coins are too small.

This country is intolerable
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Old Mar 26th 2010, 5:20 am
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Default Re: 1.93's A$ to the Pound!!!

Originally Posted by DeadVim
They are, but I still managed to rip one in half this week.

AND the $2 coins are too small.

This country is intolerable
and why are the 50c pieces so big?
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Old Mar 26th 2010, 5:38 am
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Default Re: 1.93's A$ to the Pound!!!

Originally Posted by Steve1977
and why are the 50c pieces so big?
to make the poms feel at home of course
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Old Mar 26th 2010, 5:40 am
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Default Re: 1.93's A$ to the Pound!!!

Originally Posted by MrCro
Just when we all thought it couldn't possibly get any lower, the £ has slipped into the high 1.93's today!

At this rate we won't be able to afford to move to Australia!
Oh dear. 1.93 seems a distant memory now. I am just one of many who will be kicking themselves right now.

MrCro did you do the move in the end?
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Old Mar 26th 2010, 5:41 am
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Default Re: 1.93's A$ to the Pound!!!

Originally Posted by DownUnderPaddy
to make the poms feel at home of course
No, we have small 50p coins now, big ones went years ago
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