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1.93's A$ to the Pound!!!

1.93's A$ to the Pound!!!

Old Mar 26th 2010, 8:00 am
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Default Re: 1.93's A$ to the Pound!!!

Originally Posted by wilf70
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
The very fact that its a State run dictatorship also means that the guy writing the article can have really no idea at all what would actually transpire in China...

Western style economic theory may dictate that you take a certain course of actions based on the economy... China's dictatorship doesn't need to, and almost certainly wouldn't, follow that same path. They would take the path that suited "The Party" and to Hell with the consequences.
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Old Mar 26th 2010, 8:28 am
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Default Re: 1.93's A$ to the Pound!!!

Originally Posted by gmralston
No, we have small 50p coins now, big ones went years ago
Wow, Kangaroo Point *fond memories of the Story Bridge Hotel* is it still there?
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Old Mar 26th 2010, 8:31 am
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Default Re: 1.93's A$ to the Pound!!!

Originally Posted by freebo
Wow, Kangaroo Point *fond memories of the Story Bridge Hotel* is it still there?
yes its still there..
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Old Mar 26th 2010, 8:53 am
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Default Re: 1.93's A$ to the Pound!!!

Originally Posted by rinkerdink
Nice article,

If all the content is true and I am assuming it is... hold onto your hat!
For those that found the last article interesting, here's another...

http://dianchu.blogspot.com/
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Old Mar 26th 2010, 10:35 am
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Default Re: 1.93's A$ to the Pound!!!

Originally Posted by freebo
Wow, Kangaroo Point *fond memories of the Story Bridge Hotel* is it still there?
Yes they will never get rid of that, there would be an uproar. Never been in but walk past it every now and then, it's classic Queenlander style and in good nick too.
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Old Mar 26th 2010, 10:44 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
But what about the £2 coin? What's the point of having it twice the size and twice the weight of the £1 coin? May as well just carry 2 £1 coins.
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Old Mar 26th 2010, 10:57 pm
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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?
Inflation, I think.

Originally Posted by MartinLuther
But what about the £2 coin? What's the point of having it twice the size and twice the weight of the £1 coin? May as well just carry 2 £1 coins.
More fun to juggle in the pocket too, madness.
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Old Mar 26th 2010, 11:41 pm
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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.
You get a few oz bashers on the forum sometimes saying OZ has never invented anything or contributed anything much to the world, but in fact for a country of only 20m that has only been around for 200 years it has very much so. Theres a very long list of OZ inventions. Yes OZ invented the plastic banknote and sold the technology to a few overseas countires that make them also, they last alot longer then paper notes and your less likely to accidently destroy them and they are much harder to counterfeit then paper notes.

Last edited by mohogony; Mar 26th 2010 at 11:44 pm.
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Old Mar 26th 2010, 11:44 pm
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Default Re: 1.93's A$ to the Pound!!!

It's all down to inflation: when inflation demands a coin a bit further up the value scale the instinctive thing is to make it larger - but at some point the wheelbarrow rears its ugly head, so the next one "up" is made smaller. In time there's a complete mishmash of coinage.
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Old Mar 27th 2010, 12:00 am
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Default Re: 1.93's A$ to the Pound!!!

Originally Posted by Wol
It's all down to inflation: when inflation demands a coin a bit further up the value scale the instinctive thing is to make it larger - but at some point the wheelbarrow rears its ugly head, so the next one "up" is made smaller. In time there's a complete mishmash of coinage.
The 2p piece is another useless coin. Twice the size and twice the weight of a penny. The 20p is beauty in itself and yet most people appear to hate them.


Just thinking about the 1p coin which looks like the old 2c coin. If the 2c coin was uneconomic to produce 10 years ago how come they're still producing the penny when it's only worth 1.6c. The mint must be losing a mint producing pennies and tuppences.

And while I'm at it. What's the gig with the Euro coins. Why did they make them look the same? And so many?
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Old Mar 27th 2010, 8:35 am
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Default Re: 1.93's A$ to the Pound!!!

Originally Posted by gmralston
Never been in but walk past it every now and then, it's classic Queenlander style and in good nick too.
walking past it is nice, but going in and drinking beer is nicer.
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Old Mar 27th 2010, 8:44 am
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Default Re: 1.93's A$ to the Pound!!!

Originally Posted by MartinLuther
The 2p piece is another useless coin. Twice the size and twice the weight of a penny. The 20p is beauty in itself and yet most people appear to hate them.


Just thinking about the 1p coin which looks like the old 2c coin. If the 2c coin was uneconomic to produce 10 years ago how come they're still producing the penny when it's only worth 1.6c. The mint must be losing a mint producing pennies and tuppences.

And while I'm at it. What's the gig with the Euro coins. Why did they make them look the same? And so many?
I'd be very interested to know how many of these 1's and 2's are sitting in oversized bell's whisky bottles, or blackpool's slot machines lol!
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Old Mar 30th 2010, 11:48 am
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Default Re: 1.93's A$ to the Pound!!!

Originally Posted by freebo
For those that found the last article interesting, here's another...

http://dianchu.blogspot.com/
Even Stratfor are now writing about the problems facing China, again this is relevant to the value of the AUD, as Australia's biggest commodity market is China

http://www.stratfor.com/weekly/20100...na_crunch_time
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Old Mar 30th 2010, 12:03 pm
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Default Re: 1.93's A$ to the Pound!!!

Thanks freebo--very interesting;sums up our collective view.Basically,when is the cr-p going to hit the fan??-sooner or later.I think the US imposition of tariffs will be the trigger.thanks
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Old Mar 30th 2010, 12:15 pm
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Exclamation 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.
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