I am starting to build a small silver stack but with the Aus dollar back up to 76 US cents is it a good time to stack USD? (should have done this a couple of years ago I know). I think that the Australian economy will be smashed if China had economic issues or if there were larger economic issues in the world. Long term though I think Australia has the brightest future of all; great living standards, huge natural resources etc. What does anyone else think?
I would buy Bitcoin instead, is mainly priced in USD and seems to trade fairly independent of the Forex markets. If AUD crashed and BTC held the same you would benefit from the swing and would be holding something that is not going to be inflated away.
Good time to swap aud to usd. I did a swap for a kilo silvar bar to usd500 recently. I would be interested in getting some actual usd cash as well atm instead of aud. Also its good time to get some more liquid silver
Just a few months ago everyone was saying the AUD would crash, USD is going to the moon!, quick, buy USD now!, it will be the only currency still standing. They might be proven right with hindsight in the medium term, but it's basically just a gamble either way, no one really knows.
The odds of bitcoin crashing and leaving you holding nothing are vastly higher than a currency crash.
That is true, it's also true that mathematically bitcoin must continuously go up in value(USD) or risk crashing to zero, while the USD on the other hand mathematically can only crash to zero. Just depends on you appetite for risk and your time frame.
Sure, but the world economic system doesn't work on pure mathematics. Both bitcoin and fiat currency both only work if people have faith in it. Almost everyone has faith in fiat currency, and almost everyone uses it. Very few people as a percentage of the population either trust or use bitcoin, or even have a clue what it is. I'd stick with fiat for the medium to long term for most of my cash. Bitcoin is a nice little gamble, but only a fool would bet the farm on it.
Never saying to bet the farm but all fiat currencies work on pure mathematics; (enough new currency must be loaned into the system on a continual basis to cover the interest only component of all serviceable debt or deflation will destroy (currency + debt) leaving even a higher percentage of debt vs currency) every single fiat currency will always crash to zero, so in contrast to that every asset will go to infinite value over a long enough time frame. I was actually looking at USD atm but I'm going to be putting most I what I have into Bitcoin instead, with the view to cash out back to AUD by the end of this year. More USD printing on the cards, possible negative interest rates, new US president, Bitcoin block reward halving, Possible stock market and housing market top. Current exchange rate is: USD/AUD: 76.07 Current Bitcoin price is: USD $409.04, AUD $537.72 If I'm wrong your welcome to tell me you told me so come the end of this year
Yours never worked anyway, as well as everyone else's too! There is only one trusty crystal ball and it mine. I got it from Switzerland.
its a bad idea now, since USD was sought after back in 90s and early 2000. when devaluation of local currencies were very conman Having Russian Rubles at rock bottom may be better, since some people can still trade them and fly to Russia to spent the cash and bring back some nice bars to make profit in here. If you try to go to the USA, being molested really would put you off.
Stacking Rubles is an interesting idea. I thought about it a bit and as silver is pegged to the US dollar then stacking silver is also like stacking US dollars. Another reason to stack. But now I am thinking about Rubles.... :|
if your intention of stacking is just to spent it, then gold is accepted in almost any country. many countries rejected us dollars, ie can not be converted as easily as before.
USD sits on decade high: AUD sits on decade average: Usually it's best to stack what sits decade low.
