The AUD is in freefall!!! WHat do we do

Discussion in 'Currencies' started by SilverSanchez, Dec 18, 2013.

  1. TheEnd

    TheEnd Well-Known Member

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  2. Eureka Moments

    Eureka Moments Well-Known Member Silver Stacker

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    We're all over fudging the stats here.

    http://www.theaustralian.com.au/bus...s-rate-58-in-dec/story-e6frg90f-1226803110562

     
  3. TreasureHunter

    TreasureHunter Well-Known Member

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    Well, gold is good as a hedge after all...

    What are the causes of the AUD's decline?
     
  4. aleks

    aleks Well-Known Member Silver Stacker

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    Glen stevens opening his fat trap for one...
     
  5. mmm....shiney!

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

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    I remember a few months back willrocks and I having a discussion :) on the future of the AUD. He basically said it will decline to about USD0.85, his premise was that the RBA was intent on pushing the value of the AUD down.

    I said, "nonsense you neonate" Glenn Stevens has made it very clear that the exchange rate of the AUD is not a concern of the RBA's, their mandate is to control inflation, AUD to remain at parity with the USD or at worse USD0.95.

    Well............

    willrocks also convinced me to buy LTC when they were about $3, once I'd sorted the paperwork and opened an account with Coinjar and btc-e, well, let's just say LTC days of single figures were in the dust of the rearview mirror. :/

    To be fair to shiney!, Stevens has done a major backflip in policy direction IMO.
     
  6. mmm....shiney!

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

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    oops, wrong thread :lol:
     
  7. BiGs

    BiGs Active Member

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    Anything backed by the USD is a hedge against the falling Aussie dollar. US stocks/bonds, US property, gold/silver, etc. It is a good time to purchase silver as you have a lowish silver price, high GSR and a bearish Aussie dollar leveraging your gains in the long term. I wouldn't be surprised if we see the AUD/USD pair dip into the 50's in the next 5 years.
     
  8. FlashInThePan

    FlashInThePan Member

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    The fact that the USD index has dropped and the AUD has tanked further relative to the USD is extraordinary. Normally the AUD will strengthen.

    I seems plausible there are arrangements between central banks to maintain percentile relationships.
    It's certainly a nice idea to think we can all hold hands while we sink into the sinkhole together. :/
     
  9. mmm....shiney!

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

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    ^ Weaker than expected data from China.
     
  10. mmm....shiney!

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

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  11. Dynoman

    Dynoman Active Member

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    I believe gold around $2k by the end of the year, more importantly gold producers hammered close to death by market manipulation have created a once in a lifetime investment opportunity. AUD down, gold price firming, physical demand at an all time high, global fiat uncertainty, QE#? Time to invest in gold stocks. Sorry for those who were eight months prem on this.
     
  12. olifrated

    olifrated Active Member Silver Stacker

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    Which gold stocks to invest in though ??
     
  13. SilverSanchez

    SilverSanchez Active Member

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    Top Tier, cash rich, unheadged, profitable miners
     
  14. mmm....shiney!

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

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    http://finance.yahoo.com/news/australian-unemployment-jumps-10-high-010948081.html

    And remember this is in the face of rising costs for essentials. Broke governments, broke consumers, broke businesses? Now that's not a pleasant scenario.
     
  15. DanielM

    DanielM Active Member Silver Stacker

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    The shit storm a commeth
     
  16. Pirocco

    Pirocco Well-Known Member

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    What do we do?
    What was done?
    People sold AUD! :D
    That's what they did.
    What should we do now?
    Sell after them at the lower price?
    Buy before they buy back in again?
    Lord knows! :D
     

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