MrCro

I wonder how many millions of £'s and other currencies are waiting to come into Oz which have been left in Uk etc by people who have already emmigrated but are waiting for better exchange rates?

koalakim

As of next Friday we'll have a few bob to bring over when the house settles!

We've been here almost 3 years and feel ready to buy so it is just our luck that things have turned.....

I've been doing millions of calculations as to what is best to do so for the moment we are going to find the best instant access account in the UK (A&L offshore 3%) and watch the rates carefully. I calculated that it would take me 5 years of saving the lump sum to get back 0.50 cent difference in rate....lord knows how much house prices will have gone up in that time!

But then Oz is doing so well it obviously doesn't need our money....

mecheng

I can only dare to imagine.....

chilliman

ALOT!!!

renth

Don't forget to include paying tax on any forex gains you make in your calculations when you eventually bring the money over.

BadgeIsBack

Twist the knife, why don't you?

Wol

Wouldn't worry too much: after the proven roaring success in the Stimulus Package - which has kept growth going - the obvious next step will be to continue and increase it. Print even more money, hand it out to everyone and growth will continue unchecked - Nirvana! So none of us will have to have any income other than the cheques from the government which will come thick and fast.

I can't see any flaw in this argument..............................

renth

Apart from the fact the Australian government hasn't been "printing money" unlike the British or US governments.

Wol

Print it today, go into debt for tomorrow - same difference.

renth

I'm not sure I agree with that. Whilst I question the wisdom of Rudd taking the country into debt over the stimulus measures which in my opinion will simply delay the inevitable rather than cancel it I don't believe it's the same as increasing the money supply as they have done in the UK and USA. Which I believe will result in massive inflation at best and at worst a currency crisis for either the USD or GBP.

The cynic in me thinks that the US actually wants hyperinflation to get rid of their massive debts and to eventually replace the US Dollar with a new currency - the Amero.

iamthecreaturefromuranus

If that's a representation of you in your avatar then you need to reduce the strength of what ever it is you're smoking.

Wol

>>The cynic in me thinks that the US actually wants hyperinflation to get rid of their massive debts and to eventually replace the US Dollar with a new currency - the Amero.<<

Whether they *want* it or not, you are right: inflation will *have* to occur to reduce the massive debt burdens.

Avoiding taking the medicine last year hasn't cured anything - the disease is till in the body in one form or another. The medicine we will have to take is going to taste just as, or more, nasty in the future.

renth

Hahaha! well, we'll just have to wait and see what happens. I don't think my views are particularly loony though. They would have been 2 years ago but after all we have seen going down since the GFC began nothing surprises me anymore.

I do think the US Dollar is toast though, seriously.

renth

Agreed. I think more and more people are realising this, you just have to look at the price of the ultimate financial insurance - Gold and Silver to confirm.

iamthecreaturefromuranus

US Dollar is certainly struggling at the moment, but it would take a huge change in mindset for the world economies to ditch the greenback as the global trading/pricing currency. If the dollar does indeed go belly up, then the upheaval to world trade would be huge.... it would also mark the end of the "American Century"