AUD on the decline... Should I exchange now or wait? - Page 3 - TravelPUNK Backpacker College Student Budget Travel Message Boards!

**voyd** · 09-12-2008, 10:20 AM

Quote:

Originally Posted by SGRHewitt

I would speculate that its bad. However it does give investors relief in that with the U.S. government taking it over, there is little chance of them collapsing unless our economy 'depresses' overnight.

The house of cards is collapsing...

Cuz how can a gov $10 trillion in debt blow yet another $5 trillion to bail-out bankrupt moneylenders??? Seriously, the Feds are more in debt than these institutions they're taking over!

This country's funny money is a joke. We've slowly been hijacked and raped by financial terrorists since at least Roosevelt.

SGRHewitt · 09-12-2008, 11:26 AM

You better look as far back as Andrew Jackson... Ever since the Federal Reserve was created.

Sad thing is, so many countries have so much invested in us(US), that it will be such a financial burden on them if our markets suffer.

Saudi Arabia has said that they wouldn't mind oil barrels at $80 because of they have so much riding in the dollar.

...

In other news, the Australia dollar gained about 3/4 cents on the USDollar today.

**voyd** · 09-12-2008, 12:47 PM

Quote:

Originally Posted by SGRHewitt

You better look as far back as Andrew Jackson... Ever since the Federal Reserve was created.

True, and even further back beyond that...

But in recent history, FDR took our currency off the metals standard domestically in 1933.

Quote:

Before Roosevelt, the US paper dollars were 100% backed by gold, the US was on a Gold Standard, and there had been zero inflation for over a century!

From 1933 to 1971 foreign investors holding US dollars could freely exchange them for gold at the US Treasury at any time. This was the Age of Partial Gold, when the US dollar was not backed by gold internally domestically but from a foreign perspective it sort of was. Under the pre-1933 full Gold Standard, the US government and later the Fed couldn’t print money unless it had the gold to back it, so the US money supply grew very slowly and general prices remained stable.

In 1971 Richard Nixon, another absolutely horrible president who hated the US Constitution and betrayed the American people, totally severed the dollar’s link to gold. After his decree, not even foreign governments could exchange their dollars for gold.

And in 1971, Nixon finished by taking our currency off the gold standard worldwide.

Ergo:

Quote:

With Nixon’s final deathblow to sound American money, the Age of Fiat Paper was born. Now the (FRB ) could print unlimited amounts of inherently worthless fiat paper dollars all the time without suffering any immediate consequences.

As you can see, it's all been a downhill slide since the FRB and their puppets got into office...

Abe Lincoln tried to stop these bankers - and got killed.
JFK also tried to stop the FRB with EO 11110 - and got killed.
Ron Paul has tried to stop them as well - and has gotten blackballed by our media in the election.

So, this stuff has been in the works for decades now with lots of blood spilled, but most people never cared until it finally started hitting home when they realized their fiat FRB notes were becoming worthless...

**Dig** · 09-12-2008, 06:49 PM

Voyd-

You assumed that the US govt. just paid 5 trillion for freddie and fannie. That is not the case. They just assumed the debt for those companies and placed them into a concervitorship (that word is too big for me to spell right this many beers into the night). So a difference of 4.8-4.9 trillion dollars.

And no, Freddie and Fannie were not independantly owned, the were already regulated by the US govt. They were a publicly traded stock, but that does not mean they were independant of the govt.

This could have a stabalizing effect on our plumeting dollar vs. everybody. However, the CEOs of those companies are still getting mega-millions in severence packages

.

**Elizabeth** · 09-12-2008, 07:02 PM

anyone know what the predictions are for the euro over the next 6 months?

**BelfastFlyer** · 09-13-2008, 05:38 AM

from what I have read the euro should stay steady... but of course as its rumored that France, Spain (spain pretty much already is) and italy are going into recession this year so it may not stay so strong.

However if you want to compare the USA, UK and Europe - Europe has the better infrastructure to keep its head above water..

cattlikewoah · 09-14-2008, 04:40 PM

Quote:

Originally Posted by SGRHewitt

In other news, the Australia dollar gained about 3/4 cents on the USDollar today.

Yay?!
I'm not so sure it will stay that way...

Speaking of Euros, I'm wanting to purchase some flights through Aegean Air... When should I do this? How's it looking against AUD?

**voyd** · 09-15-2008, 12:33 PM

Quote:

Originally Posted by Dig

Voyd-

You assumed that the US govt. just paid 5 trillion for freddie and fannie. That is not the case. They just assumed the debt for those companies and placed them into a concervitorship (that word is too big for me to spell right this many beers into the night). So a difference of 4.8-4.9 trillion dollars.

Right, but if those companies cannot recoup all the money they are owed on all their overextended, ridonkulous subprime loans (as they unlikely will be able to), then the taxpayers will be left holding their bag. Trickle-down debt.

Look, just today, Lehman Brothers and Merrill Lynch both went under and the DJIA has tanked 400 pts. Lehman being the #4 investment bank in the oountry! Fact is, greedy a-holes have been profiteering off Americans behind closed doors and sucking this country dry at great risk to us. Now, while they have become fabulously wealthy, the rest of us will pay the price.

I know money matters are complex and not "sexy," but it's the lifeblood of a nation. And we've been sucked dry for the last several decades (and more), with little care. Cuz election after election, we ignore the realistic accountants like Ross Perot or Ron Paul, in favor of popularity contests. And while we've been focusing on Muslim "terrorists," we've been ignoring all the financial terrorists manipulating our money right at home...

Ignorance is bliss, until your reality check. And that check is in the mail now, folks!

SGRHewitt · 09-23-2008, 07:11 AM

From its high of 1USD to 1.25AUD, the USD is now worth only $1.18. More than two months ago yes, but I don't see the dollar strengthening anytime soon.

I have heard analysts say that Ford/GM could be next in the Fed bailout.

I just need the damn dollar to hold strong for a couple of more months. I have little hope though.

SGRHewitt · 10-05-2008, 11:45 PM

Wow, lowest I've seen the AUD to the USDollar. 1USD = 1.33 AUD

Crazy when just three months ago they were nearly 1:1. Here is to hoping it holds out to January, but in three months time it varied this much. So it could just do the exact opposite

.

**aliz** · 10-06-2008, 12:33 AM

I know, buying stuff from US sites online is suddenly hurting significantly more than it was a few months ago. ah, at least I went to NY when the exchange rate was good!

**maracle** · 10-06-2008, 06:28 AM

This is really working out for me perfectly, I have to pay a couple thousand AUD for my visa app today and it is a lot fewer USD now than it was last time I had to make a payment!

SGRHewitt · 10-06-2008, 07:30 AM

Quote:

Originally Posted by maracle

This is really working out for me perfectly, I have to pay a couple thousand AUD for my visa app today and it is a lot fewer USD now than it was last time I had to make a payment!

Didn't realize you were going to Australia as well? Where you heading? And for how long?

**maracle** · 10-06-2008, 08:05 AM

I've been applying for a residency visa, so I wont be going for a year or two...I've submitted all the paperwork but they don't even look at them for 9-10 months.

SGRHewitt · 10-06-2008, 09:23 AM

Quote:

Originally Posted by maracle

I've been applying for a residency visa, so I wont be going for a year or two...I've submitted all the paperwork but they don't even look at them for 9-10 months.

Ah I see. Liked it so much that you want to move there? Did you have to do the whole 'point' system, where you get points based on age/education and such?

**maracle** · 10-06-2008, 09:56 AM

Right...it takes a long time to do it though!

SGRHewitt · 10-06-2008, 02:08 PM

Yeah, I keep coming up short when I take the test deal. I guess it comes down to my degree probably not meaning much over there, 'travel and tourism'. Granted I've only done it for shits, but who knows maybe one day...

**aliz** · 10-06-2008, 04:34 PM

Quote:

Originally Posted by maracle

I've been applying for a residency visa, so I wont be going for a year or two...I've submitted all the paperwork but they don't even look at them for 9-10 months.

ooh, I didn't know this! exciting!

**raoulduke** · 10-06-2008, 05:40 PM

It's about time more TPunks started coming to Australia.

**MolsonGirl** · 10-07-2008, 12:13 AM

I'm thinking about staying here permanently... after about 6 months in England.