I'm bloody glad I bought American dollars.

Discussion in 'Markets & Economies' started by Dusty, May 17, 2012.

  1. Dusty

    Dusty Active Member Silver Stacker

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    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.
     
  2. THUCYDIDES79

    THUCYDIDES79 New Member Silver Stacker

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    Couldnt you at least wait til the USD was at least 10% stronger than AUD before being glad?

    :)
     
  3. Sultan Pepper

    Sultan Pepper Member

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    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.
     
  4. Dusty

    Dusty Active Member Silver Stacker

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    O it will be :)
    I bought when the aus dollar was at it's hightest.
     
  5. Nedsnotdead

    Nedsnotdead Active Member Silver Stacker

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    what price did you buy at and when/what price will you be selling at?
     
  6. Dogmatix

    Dogmatix Active Member

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    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?
     
  7. DanDee

    DanDee Active Member Silver Stacker

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    Because it didn't come up black. That's about the only reason you can be sure of.
     
  8. fishball

    fishball New Member Silver Stacker

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    But he's in the black :p
     
  9. Jislizard

    Jislizard Well-Known Member Silver Stacker

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    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.
     
  10. Guest

    Guest Guest

    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.
     
  11. Dusty

    Dusty Active Member Silver Stacker

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    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.
     
  12. Dogmatix

    Dogmatix Active Member

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    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.
     
  13. phillis

    phillis New Member

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    ive just opened a demo account with GFT markets last 2 weeks. this week ive been fiddling with forex. this is me:

    [​IMG]

    quickest way to go broke out of a casino
     
  14. Dogmatix

    Dogmatix Active Member

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    ^^^ LMAO

    That picture cracks me up - love it :lol:
     
  15. Dusty

    Dusty Active Member Silver Stacker

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    Short answer, I bought into American dollars and it's performing :)
     
  16. metalzzz

    metalzzz Well-Known Member

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    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.
     
  17. jpanggy

    jpanggy New Member

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    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.
     
  18. JulieW

    JulieW Well-Known Member Silver Stacker

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    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.
     
  19. Wout

    Wout New Member

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    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
     

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