When everyone said don't buy American dollars I did and I'm going to make a profit There still up the sh#t but people will go to America when fleeing everything else including gold. Buy when people tell you not to and sell when people tell you to buy.
I actually made a profit on US$ last year, they're the big dog and will have a few false fight backs over the coming years before it all most likely comes crashing down. A risky investment though given they're current situation.
Haha, playing forex and pretending you know what's going on is like playing the pokies and having that ' winning feeling'. It's a joke. Can you explain with any certainty what the AUD and USD will do next week? Next month? There are three variables, all of which change and not necessarily in a proportional or related fashion: - USD value - AUD value - the value of goods You can measure the values against each of these three variables, or even other variables like other currencies. All the while, these are being affected by economic performance, speculators, traders, central banks, QE, politics, media sentiment, liquidity, legislation, trade relations, etc... and rarely by fundamental market forces as the market is hugely distorted. So good for you, you spun the roulette wheel and it came up red. Why did it come up red?
Yea! You can buy more Australian dollars with your US dollars, but the Australian dollars you end up with will be able to buy less. Spend it quick, spend it in Australia.
You may be happy now but it's when you get out that will determine the success of your venture into USD. Whether it's before it becomes confetti or not.
Let's look at it this way: Stocks down. Silver down. Gold down. Real-estate down. American dollars up. Greyhound semen up. People can yell at the top of there lungs about were pm's should be and were it's going but look at were they are. People can tell others were the American dollar should be but your right it's when you exit but I like having that option. Disclosure. I hold all of the above.
Incidentally I apologise for any condescending tone earlier - I was having a fun day. But here I go again... Based on the bold above, does that make you a contrarian? And if you are a contrarian of a site full of, well contrarians, does that make you mainstream as fk? Okay, i'm definitely being a douche now.
ive just opened a demo account with GFT markets last 2 weeks. this week ive been fiddling with forex. this is me: quickest way to go broke out of a casino
Hang on to them a bit longer too. You made a good decision. I was so close 3 months ago when I was changing some money as a wedding gift but I just couldn't do it.
In malaysia, HSBC is offering some weird financial product, hedged vs AUD. Gives return of 4% p.a. but will return capital (in AUD) if AUD dies 35% vs Malaysian ringgit. (win win for hsbc) Got called last month by hsbc Australia, offering credit etc. Struck up a conversation and got them to comment that AUD is overvalued (internal analysis). Signs of things to come? maybe, who knows.
I looked at forex for a millisecond and decided that I didn't have enough money to make it worthwhile trying to guess 'red or black'. Good luck if you've made a few dollars. Personally the risk for me would be too high. In 2008 the RBA jumped in with billions to stop the AUD if free fall. I think it went to 65c (?) or so. Next time I think the AUD could be more safe haven, along with canada, brazil, singapore et al. either way it doesn't really matter. If the euro survives at parity, the GBP won't be far behind and that's pretty much a baseline for a single currency try. Some sort of giant change is coming out of all this once we exit the eye of the storm.
US dollars or Singapore dollars are a good hedge against our dollar when theres another crash the AUS dollar will get hammered, we saw it again in the last 2 weeks with markets getting wobbly we got dropped like a hot potato I think that when Europe gets owned into fiscal oblivion theres going to be a flee to the US dollar and US bonds which will be the "blow off top" of the US bubble economy, until then US dollars might be a decent bet on preserving some purchasing power as funny as that sounds, atleast its extremely liquid
