Oz falling from high
Jun 2nd 2011 | 1:37 am
#121
Rhino with a big horn!
Joined: Feb 2011
Posts: 3,117
Re: Oz falling from high
I agree that gold is a more substantial token than fiat notes (you can't make audio connections out of paper) but it is still a token.
Jun 2nd 2011 | 7:36 am
#122
BE Enthusiast
Joined: Sep 2004
Posts: 938
From: London - but only until I can afford to move back to Sydney
Re: Oz falling from high
People complain about the housing market being a ponzi scheme, it's nothing compared to the gold. What can you actually do with gold? You can't buy anything with it apart from maybe in some Asian countries or exchange it on the black market. Try offering it for sale other than in small quantities to the mint or a jewelers and you'll soon attract some interest from the authorities. Only thing it's good for is jewelry and making good headphone connections, and even gold jewelry is a bit chav these days.
Jun 2nd 2011 | 9:11 am
#123
Lost in BE Cyberspace
Joined: Oct 2005
Posts: 16,623
From: Hill overlooking the SE Melbourne suburbs
Re: Oz falling from high
It's not anti Australian to feel negative about the economy. If you think it is then you are a fool and riding for a fall. It's perfectly rational to feel that the economy may have had it's day in the sun and be on the way down. I guess that you would categorize me as anti Australian because I'm back in the UK but contrary to that I'm very pro Australian I just recognize the problems and am making plans to avoid them because I have options to do that.
My view is that we have not had a spate of live-in 'I hate it all' for awhile.
There were times when there was at least one or two very angry people...now we have a few grumblers...and their situation is known.
Jun 2nd 2011 | 2:38 pm
#124
BE Enthusiast
Joined: Jul 2008
Posts: 823
Re: Oz falling from high
You cannot walk into a car dealers with a gold bar and buy a car, whereas you can with a bag of cash.
Jun 2nd 2011 | 3:16 pm
#125
Not allowed opinions.
Joined: Nov 2009
Posts: 4,565
From: Sydney
Re: Oz falling from high
That's not my point. My point is gold is the biggest longest running ponzi scheme. It has no value other than perceived, and you can't really do a lot with it, unlike a house say which you can at least live in.
You cannot walk into a car dealers with a gold bar and buy a car, whereas you can with a bag of cash.
You cannot walk into a car dealers with a gold bar and buy a car, whereas you can with a bag of cash.
1. Rarity and cost of extraction
2. Commercial application in the electronics industry
3. Doesn’t corrode. Ever.
Jun 2nd 2011 | 3:24 pm
#126
BE Forum Addict
Joined: Jul 2010
Posts: 2,442
From: Melbourne
Re: Oz falling from high
You cannot walk into a car dealers with a gold bar and buy a car, whereas you can with a bag of cash.
As soon as the reserve bank prints more cash, the cash in your hand is worth less. You think prices actually go up?
Jun 2nd 2011 | 3:39 pm
#127
Rhino with a big horn!
Joined: Feb 2011
Posts: 3,117
Re: Oz falling from high
At the end of the day gold is still a token. It's rarity has been the reason it has been the choice on token for much of the past. It is no different to a big round stone from Yap (albeit more portable).
Last edited by Rambi; Jun 2nd 2011 at 3:42 pm.
Jun 2nd 2011 | 4:21 pm
#128
Banned
Joined: Aug 2008
Posts: 22,348
Re: Oz falling from high
Hmmm....This seemed true in the old days when I first joined BE. Working class people moving to Australia in general with professionals feeling hard done by at times...and it took me a while to realize that there are more IT people on the board than I first realized..no surprise there...
I heard you. You didn't say people were being anti- Australian [on the economy] I took it to mean that the board had it's fair share of anti-Australia stances or views...
My view is that we have not had a spate of live-in 'I hate it all' for awhile.
There were times when there was at least one or two very angry people...now we have a few grumblers...and their situation is known.
I heard you. You didn't say people were being anti- Australian [on the economy] I took it to mean that the board had it's fair share of anti-Australia stances or views...
My view is that we have not had a spate of live-in 'I hate it all' for awhile.
There were times when there was at least one or two very angry people...now we have a few grumblers...and their situation is known.
Jun 2nd 2011 | 4:22 pm
#129
Proudly Deplorable
Joined: May 2003
Posts: 24,249
From: Alloha snack bar
Jun 2nd 2011 | 5:45 pm
#131
Fighting my corner
Joined: Aug 2005
Posts: 11,948
From: Adelaide, South Australia
Re: Oz falling from high
No it's not.
Moody's had predicted -1.7% and now they're telling us the actual contraction was only -1.2%.
So that's better than predicted.
Moody's had predicted -1.7% and now they're telling us the actual contraction was only -1.2%.
So that's better than predicted.
Jun 2nd 2011 | 5:54 pm
#132
Frequent Flyer Member
Joined: Jun 2007
Posts: 10,994
From: Melbourne
Re: Oz falling from high
No it's not.
Moody's had predicted -1.7% and now they're telling us the actual contraction was only -1.2%.
So that's better than predicted.
Moody's had predicted -1.7% and now they're telling us the actual contraction was only -1.2%.
So that's better than predicted.
http://www.businessday.com.au/busine...602-1fiwp.html
Speaking to senators as official statistics were released showing a rebound in coal and iron ore exports and a lift in consumer spending, Martin Parkinson said Treasury had always expected the March quarter downturn reported on Wednesday, although it had been "marginally larger" than it predicted.
Like I said, my much worse was based on the -0.4% which was the average call the previous week.
Jun 2nd 2011 | 6:01 pm
#133
Fighting my corner
Joined: Aug 2005
Posts: 11,948
From: Adelaide, South Australia
Re: Oz falling from high
You can pick and choose your sources. How about The Treasury?
http://www.businessday.com.au/busine...602-1fiwp.html
Speaking to senators as official statistics were released showing a rebound in coal and iron ore exports and a lift in consumer spending, Martin Parkinson said Treasury had always expected the March quarter downturn reported on Wednesday, although it had been "marginally larger" than it predicted.
http://www.businessday.com.au/busine...602-1fiwp.html
Speaking to senators as official statistics were released showing a rebound in coal and iron ore exports and a lift in consumer spending, Martin Parkinson said Treasury had always expected the March quarter downturn reported on Wednesday, although it had been "marginally larger" than it predicted.
Like I said, my much worse was based on the -0.4% which was the average call the previous week.
Jun 2nd 2011 | 6:12 pm
#134
Frequent Flyer Member
Joined: Jun 2007
Posts: 10,994
From: Melbourne
Re: Oz falling from high
It's not better either.
Have I done something wrong? Sorry for keeping an eye on these things. It's actually quite difficult to find reference to the previous weeks consensus...this is the best I can do. Apologies.
http://www.perthnow.com.au/business/...-1226067115443
Early this week, the median market forecast was for GDP contraction of 0.4 per cent in the March quarter, for an annual expansion of 1.7 per cent in the year to the end of March, according to an AAP survey of 13 economists.
No menting of Camping.
The average call? From what source? Harold Camping?
http://www.perthnow.com.au/business/...-1226067115443
Early this week, the median market forecast was for GDP contraction of 0.4 per cent in the March quarter, for an annual expansion of 1.7 per cent in the year to the end of March, according to an AAP survey of 13 economists.
No menting of Camping.
Jun 2nd 2011 | 6:22 pm
#135
Account Closed
Joined: Jul 2006
Posts: 14,188
Re: Oz falling from high
"Marginally larger" is not "much worse than predicted."
The average call? From what source? Harold Camping?
The average call? From what source? Harold Camping?
It's not better either.
Have I done something wrong? Sorry for keeping an eye on these things. It's actually quite difficult to find reference to the previous weeks consensus...this is the best I can do. Apologies.
http://www.perthnow.com.au/business/...-1226067115443
Early this week, the median market forecast was for GDP contraction of 0.4 per cent in the March quarter, for an annual expansion of 1.7 per cent in the year to the end of March, according to an AAP survey of 13 economists.
No menting of Camping.
Have I done something wrong? Sorry for keeping an eye on these things. It's actually quite difficult to find reference to the previous weeks consensus...this is the best I can do. Apologies.
http://www.perthnow.com.au/business/...-1226067115443
Early this week, the median market forecast was for GDP contraction of 0.4 per cent in the March quarter, for an annual expansion of 1.7 per cent in the year to the end of March, according to an AAP survey of 13 economists.
No menting of Camping.
