Yes but Asia was the best bargain ever. eg. Laos: Bottle of ice cold Coke 6 cents. Bottle of ice cold Beer 40c. Three course French meal (restaurant still there) $2.40. Ounce of legal marijuana 50c. btw I overstated my visa and my welcome as I watched the country fall into collapse - official bank rate 650 kip to a dollar. Black market rate 9000 kip to a dollar. Gold shops had screaming, shouting crowds 5 deep buying anything available for the flight. Border checkpoints jam packed with the departing wealthy with gold bangles and chains at the ready for bribes. Front seats at the revolution. The most exciting time of my life in retrospect. I went back last year. Just a pale memory survives.
Looks like Australia's foreign reserves is about to dump. Seems like the AUD really wants to be under 70c, but the RBA is trying to keep it stable. Australia Foreign Exchange Reserves
Yep, Looks like the RBA has been selling of FX and other assets since late 2017 to support the AUD. Strangely they are back to buying gold. https://www.rba.gov.au/statistics/frequency/reserve-assets.html
Australia is one of the few countries with a falling foreign exchange reserves. And of that it seems to be the one falling the fastest. Expect to be back at 60c soon?
I think for the next month the AUD will be more significant the spot prices. When it falls, metals will skyrocket.
https://www.abc.net.au/news/2020-12...to-surge-due-to-covid-recovery-steel/13008130 "Nothing to see here folks!"
