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1.93's A$ to the Pound!!!

1.93's A$ to the Pound!!!

Old Feb 24th 2010, 9:54 pm
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Default Re: 1.93's A$ to the Pound!!!

Originally Posted by renth
Buy gold.
Even now?
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Old Feb 24th 2010, 9:57 pm
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Default Re: 1.93's A$ to the Pound!!!

Originally Posted by paulry
Even now?
Absolutely, on the dips. Mainly as "protection" rather than necessarily an investment that might make you a huge profit (although I believe it will).
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Old Feb 24th 2010, 10:08 pm
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Default Re: 1.93's A$ to the Pound!!!

Originally Posted by renth
Absolutely, on the dips. Mainly as "protection" rather than necessarily an investment that might make you a huge profit (although I believe it will).
CreditSuisse talking about gold on this video (4:35 mins into it):

http://www.youtube.com/watch?v=19Q-BHf5Atc

They stated more or less what I was thinking - that it could be another bubble.
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Old Feb 24th 2010, 10:14 pm
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Default Re: 1.93's A$ to the Pound!!!

Ooh not gold. CNBC said that Gold is ready for a bit of a crash. Commodities generally not looking good at the mo. Long term though it may be worth a punt.
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Old Feb 24th 2010, 10:32 pm
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Default Re: $US 1.05 to the Pound

Originally Posted by Budawang
Unlike the UK, their banks were much more conservative than The City and they weathered the GFC quite well. No comparison with the UK.
That's why UBS is a basket case then... And Credit Suisse not much better.

Don't believe everything you read. Other than RBS, HBS and Northern Rock british banks actually did quite well. Barclays is flying, HSBC is sound and the whole building society area is doing OK.

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Old Feb 24th 2010, 10:53 pm
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Default Re: 1.93's A$ to the Pound!!!

Originally Posted by paulry
No, we're just old gits!
I am only 23 ish
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Old Feb 25th 2010, 12:43 am
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Default Re: 1.93's A$ to the Pound!!!

Originally Posted by paulry
They stated more or less what I was thinking - that it could be another bubble.
Possibly, but it will always have "value". Look at Argentina in the late 90's. The middle classes got cleaned out by the financial crisis apart from those holding gold/silver and US dollars.

If there is a hyper inflationary depression in the UK it will be the same people who emerge unscathed (although this time the US dollar is looking dodgy too).

Maybe don't put all your equity in gold but maybe between 20% and 50% as insurance. The rest in Aussie dollars.

Last edited by renth; Feb 25th 2010 at 12:47 am.
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Old Feb 25th 2010, 12:50 am
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Default Re: 1.93's A$ to the Pound!!!

Originally Posted by renth
Possibly, but it will always have "value". Look at Argentina in the late 90's. The middle classes got cleaned out by the financial crisis apart from those holding gold/silver and US dollars.

If there is a hyper inflationary depression in the UK it will be the same people who emerge unscathed (although this time the dollar is looking dodgy too).

Maybe don't put all your equity in gold but maybe between 20% and 50% as insurance. The rest in Aussie dollars.

And speaking of Argentina, what's likely to happen to the pound if hostilities start in the South Atlantic again? Most of South America seems to have taken offence at British oil exploration around the Falklands, and I see that we have quietly dispatched a submarine to the area and bolstered the air defences on the islands.

Maybe Brown thinks that he can emulate Thatcher and get re-elected on the back of another campaign in the south Atlantic...?


S
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Old Feb 25th 2010, 1:09 am
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Default Re: 1.93's A$ to the Pound!!!

Originally Posted by Swerv-o
And speaking of Argentina, what's likely to happen to the pound if hostilities start in the South Atlantic again? Most of South America seems to have taken offence at British oil exploration around the Falklands, and I see that we have quietly dispatched a submarine to the area and bolstered the air defences on the islands.

Maybe Brown thinks that he can emulate Thatcher and get re-elected on the back of another campaign in the south Atlantic...?


S
As Amazulu said, just let them know there are a couple of hunter killer subs ITA and it's all good.
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Old Feb 25th 2010, 1:29 am
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Default Re: 1.93's A$ to the Pound!!!

Originally Posted by Swerv-o
and I see that we have quietly dispatched a submarine to the area

Well, you found out about it and broadcast it on BE. So now the whole world knows.


If you've got any more UK military secrets that you want to reveal, at least start a new thread.
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Old Feb 25th 2010, 6:54 am
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Default Re: 1.93's A$ to the Pound!!!

Originally Posted by renth
Possibly, but it will always have "value". Look at Argentina in the late 90's. The middle classes got cleaned out by the financial crisis apart from those holding gold/silver and US dollars.

If there is a hyper inflationary depression in the UK it will be the same people who emerge unscathed (although this time the US dollar is looking dodgy too).

Maybe don't put all your equity in gold but maybe between 20% and 50% as insurance. The rest in Aussie dollars.
Definately there's a lot to be said for speading risk and gold might be one place to spread to. But not right now.

http://www.businessweek.com/news/201...ty-demand.html

And the US dollar is looking even dodgier these days:

http://www.telegraph.co.uk/finance/c...=finance2402am
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Old Feb 25th 2010, 7:49 am
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Default Re: 1.93's A$ to the Pound!!!

Originally Posted by renth
Buy gold.
+1
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Old Feb 25th 2010, 7:54 am
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Default Re: 1.93's A$ to the Pound!!!

Originally Posted by 77hil
Ooh not gold. CNBC said that Gold is ready for a bit of a crash. Commodities generally not looking good at the mo. Long term though it may be worth a punt.
Generally a good rule of thumb is listen carefully to what CNBC say and do the opposite.

A couple of months ago George Soro's called Gold a bubble, its just been revealed he then doubled his (already large) stake. Of course it could fall short term but its currently in a 10 year bull run, its outperformed just about every investment class going over that period. I know it could fall from here, but I bought a litte more recently and plan to continue doing so.

http://www.kitco.com/charts/popup/au3650nyb.html

As Renth said above holding Gold is mainly for protection, its actually paper currency that changes its value against Gold rather than the other way round. I also think it it could go up a long way from here, albeit with big volatility. All major countries and the IMF hold reserves in Gold, the UK & US can create as much currency as they like, the supply of Gold is finite and its been a store of wealth for 000's of years.

Last edited by freebo; Feb 25th 2010 at 8:23 am.
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Old Feb 26th 2010, 4:59 pm
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Default Re: 1.93's A$ to the Pound!!!

So today we have better than expected UK GDP and the pound drops like a stone against all major currencies currently 1.7001
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Old Feb 26th 2010, 7:41 pm
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Default Re: 1.93's A$ to the Pound!!!

Originally Posted by DownUnderPaddy
oooohhhh....so close. Got to 1.7056 before rallying back a little in the last hour or so.
Surely it's going to break into 1.6x territory real soon ?
boom...through the 1.70 mark a few hours ago (even if only briefly) !
Down to 1.699

Where to next ?
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