AUD to hit US$1.70?

Discussion in 'Currencies' started by Ouch, May 9, 2011.

  1. Clawhammer

    Clawhammer Well-Known Member Silver Stacker

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    ex-mate?
     
  2. Big A.D.

    Big A.D. Well-Known Member Silver Stacker

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    ex-emu, ex-motorbike, rehabilitated mate.
     
  3. mmm....shiney!

    mmm....shiney! Administrator Staff Member Silver Stacker

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    Could use them as toothpicks :D
     
  4. jnkmbx

    jnkmbx Well-Known Member

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    Ever since I was little, I was upset that Australia's manufacturing industry was dying.

    My dad would say "Australia doesn't make anything anymore".
    I asked "why not dad?"
    "Because greedy people send our jobs overseas. It's cheaper to pay a bunch of workers in China than it is to pay us."


    It suxorz. :(
     
  5. mmm....shiney!

    mmm....shiney! Administrator Staff Member Silver Stacker

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    Yep, and now our fed gov will increase the intake of skilled migrants to meet employment shortages in regional areas (mostly mining). Why not employ the local people who already live there? I know why, it's cheaper to import a bunch of workers from China than it is to train the locals.

    http://www.minister.immi.gov.au/media/cb/2011/cb165287.htm
     
  6. fishball

    fishball New Member Silver Stacker

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    +1. I find it absolutely unbelievable that they would do such a thing...

    I have mates who would willingly move to rural areas to get some jobs but they're having trouble finding jobs yet here we are importing more people wtf!?

    Skilled immigration would make sense if we needed rocket scientists or doctors...but cheap miners from China...WHY?

    Australia is fast becoming a corporate shill.
     
  7. Ouch

    Ouch Active Member

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    My feeling is that we are just following in the path of the US. Whilst they exported jobs overseas by relocating manufacturing plants to China, in our case since we can't move mines overseas we have to bring in the cheap labour. Destruction of the middle class leading to only two classes: the poor and the rich.
     
  8. errol43

    errol43 New Member Silver Stacker

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    After reading all the posts on the subject of AU$, could someone explain why, to my limited knowledge, a lot of the contracts in the mining industry are mad in US$ ? If the AU$ reaches $1.7o against US$, does not that mean we get a much lower price for our ore which means the government collects less taxes which means that Julia & Tony can't keep giving the goodies out to us poor sheeple who hold out our hand?

    Regards Errol43
     
  9. Lovey80

    Lovey80 Well-Known Member

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    I look at these things as the vicious cycle of governments working of FIAT fractional reserve banking systems. It starts with governments and reserve banks printing ever vast amounts of money (inflation), by the time it hits us (higher consumer prices) we are all jumping up and down about the cost of living, unions et al jump on the band wagon and drive minimum/all wages higher, costs of production rise significantly, eventually it becomes easier to offshore the labour at a cheaper rate and ship the same products back. Every time we have bureaucratic driven inflation (not simple supply and demand that levels itself out) we export our jobs along with it. Ouch is on the money in my opinion.

    It's not about what governments do to make an economy diverse. It's more what they DON'T do that has it's advantages. But of course they will always have their fingers in the pie distorting what could be fantastic industries setting up shop here but are prohibited by such policies and are forced to look elsewhere. The renewable energy idea I posted was just an example I put up because it is a hot topic of today and the governments solution is to kill off long term jobs for a quick cash injection via tax. I didn't actually mean it to turn into a AGW or renewable energy debate sorry OP.

    Cheers

    Chris

    P.S. On the Nuke energy thing. I never supported a Uranium argument for or against. However there are more areas than Kakadu to mine the stuff. I think Kakadu would be on the wish list of the majority of Australians to keep as pristine as it is today.......Thorium on the other hand?????? Crack on people and faster the better!
     
  10. Big A.D.

    Big A.D. Well-Known Member Silver Stacker

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    I'm aware of a few mining companies that are starting to use currency baskets as a hedge against exactly this sort of thing.
     
  11. Shaddam IV

    Shaddam IV Well-Known Member Silver Stacker

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    It does suck indeed that we can't support a manufacturing industry in Australia. Mind you there is a reason for it - Australians expect high wages and working conditions and holiday entitlements, including for unskilled workers. The reality is that there are only two industries that can support such a population, and then only in boom times: Public servants and the service industries.
     
  12. Lovey80

    Lovey80 Well-Known Member

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    Thats what the world refers to as the US Dollar standard. There is a lot of talk about the USD on a certain downward spiral at present and there would be very few that would make a good argument against that. IMO the USD is only as good a value today because of this. The day you see commodities especially Oil denominated in anything other than USD you will see or will already have seen the USD worth nothing.... Zimbabwe anyone?
     
  13. SpacePete

    SpacePete Well-Known Member Silver Stacker

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    To infinity and beyond for the extraordinary AUD? Global currency expert Savvas Savouri was a little over optimistic it seems, but there are still 3 months for his prediction of AUD $1.70 to come true. The greenback is still far from being relegated to a museum though.
     
  14. long88

    long88 Member

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    at least bullion baron pick the top of audusd.

    "my guess is as good as your guess"

    who have the clearest crystal ball of the future
     
  15. JulieW

    JulieW Well-Known Member Silver Stacker

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    I think compared to the US dollar, eventually Monopoly Money will look good.

    More on the link.
     

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