1.93's A$ to the Pound!!!
#1531
Account Closed
Joined: Jul 2006
Posts: 14,188
Re: 1.93's A$ to the Pound!!!
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.
#1534
Re: 1.93's A$ to the Pound!!!
#1537
Re: 1.93's A$ to the Pound!!!
Inflation, I think.
More fun to juggle in the pocket too, madness.
More fun to juggle in the pocket too, madness.
#1538
Banned
Joined: Feb 2009
Posts: 1,855
Re: 1.93's A$ to the Pound!!!
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 10:44 pm.
#1539
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.
#1540
Account Closed
Joined: Jun 2005
Posts: 9,316
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.
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?
#1542
Forum Regular
Joined: Jul 2009
Location: Surfers Paradise, Gold Coast
Posts: 109
Re: 1.93's A$ to the Pound!!!
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?
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?
#1543
Re: 1.93's A$ to the Pound!!!
http://www.stratfor.com/weekly/20100...na_crunch_time
#1544
Forum Regular
Joined: Feb 2010
Posts: 181
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
#1545
Forum Regular
Joined: Feb 2010
Posts: 181
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.