Why not try changing your AUD FOR Yuan/Renembi. I believe that you can now do the trade in Australia. Is this correct? Regards Errol 43
There's some posts about here on that same topic. They're probably over a year old, which is when you should've traded. Anyway, China Bank, HSBC, Citibank etc will allow you to open an RMB account, trouble is errol, bumpkins have to travel to a metrop city to do it. Even China Bank in Brisvegas, when I visited in 2012 wouldn't do it, had to go to fkn Sydenee, girl behind the glass door reckoned that they were going to do it in Briz in 2013, but I lost interest and decided to spend my money on fishing gear and alcohol.
Been too busy trying to keep the pirate ship afloat..Had to scuttle some ballast this year.. It is never too late my friend...Will set sail for China immediately. Regards Errol 43
How about converting it to US dollars. The dollar is so oversold on a global basis, from what I've read we still face a massive dollar rally that will wipe out the short dollar positions. Then converting back to Australian dollars for a profit since it will be at around 80c or so.
Well this makes sense because Yellen is going to everything in her power to keep the USD Numero Uno......For now anyways......2014 is going to be INTERESTING!!!!!!!
So what has actually caused the sudden AUD drop? Lack of confidence? Investors bailing? I am still learning about currencies? Starting to spend more time in this section now.
You buy usd.. park it in the property.. earn monthly rental which is about 10% nett. Now sell the property or refinance it (if possible). Then basically you still have your golden goose that still laying eggs.. and you get your capital back in a higher exchange plus profit. The best bet of the century... pity it is all gone now. Aud is dropping.. price going up.. yellen is on your side... thx yellen & bernanke..
Source: Zero Hedge USD still a bit on the short side. Give it another few years. http://www.treasury.gov/resource-ce...ocuments/Appendix 1 Final October 15 2009.pdf
Yep, The jobless rate has remained at a four-year high of 5.8 per cent as 22,600 jobs were shed from the economy. Analysts had expected the unemployment rate to remain stable at 5.8 per cent, with 10,000 jobs added to the economy. The Australian dollar fell half a cent to 88.39 US cents after the data was released. (Source: SMH) Edit: Interesting that the currency markets reacted pretty significantly, but the ASX All Ord's barely moved
Those figures don't look good, especially the widening gap between part and full time. Look as a bad as the AUD chart above, gold over AUD1400 now. How does a part time working population play the debt game?
The widening gap isn't the problem.. it would be worse if they were both heading downward. This is the interesting bit.. Part time can mean as little a couple hours a week, or it could be more people are now working more hours, but still considered part time (either with 2 jobs, or 30 hours week rather than 20 hours a week) Either way, that segment of the population are much less likely to feel secure enough to take on future debt. I think the currency movement seems a slight overreaction. wouldn't surprise me to see it come back a bit.
Sorry, meant to quote, rather than thank. Looks cheap, but think its got further to drop over this year. Glen still keeps blabbing that he wants it lower (and rightly so, its to high for our economy at the moment) 12 month forecast would be 80-86c from me
Yep.. that's it... wait for the AUD to tank and ... then exchange it.. lol.. yep.. that's how to (lose fiat) do it Sell Low (buy high) or you do it round... #MadHattersTeaParty 1for1
Your government workers need to take lessons from our guys. Stop counting a lot of the unemployed and your unemployment rate goes down. It really is that simple.
