USD-AUD

[celco]

Anyone else out there getting the S H I T'S with the exchange rate and for those financial types are us poor buggers from downunder going to see any reversal in the current trends.

[Luke SkyToddler]

As long as the US keeps printing money it hasn't got, and as long as the mining boom keeps the aussie economy roaring, I'd gamble on things getting a lot worse for you before they get better

[halas]

Hey Dato,

Don't think the Oz banks have it made. They are over leveraged like the rest of 'em on debentures.

I do agree, however, on the bubble you speak of. Bring it on!

halas

[moggiee]

Unless you have a burning need to send AUD home, it may well be worth turning your "Gulf currency" into USD and leaving it offshore. Then, when the US economy eventually picks up, you can convert it to AUD.

[Luke SkyToddler]

In principle you're correct sittingidly but you're extremely naive if you don't think the commodities markets are also being blatantly manipulated by mega corporations

Google "JP Morgan silver market manipulation" for a start. Every fool amateur investor in the world has been piling into gold for the last couple of years now, I think the price rise is largely driven by herd mentality and like all things where that happens it's gonna come badly unstuck when the herd eventually stampedes elsewhere.

Primary industries yes, precious metals not convinced, property still got a way to fall before I'd touch it again.

If you have an Aussie passport then go buy a forest or a farm, or an equity stake in a syndicate that owns one if you can't afford to buy outright.

[samjetblaster]

Sucks.......JH

[Chocks Away]

USD vs AUD?
Yep, $1.08 right now, great for a USA holiday or Aussie purchase of some USA dirt, god knows there's plenty of houses available
Long term predictions don't have it stabilising over $1.00 for long though, so just got to ride it out I guess. Just pissed I don't have the cash to make a few lil'trades on that ratio!
Pity the Euro went pear-shaped as that was "looking the goods" and a good currency to base oil etc off instead of the USD, until Greece et all, played their honesty cards.
Will be interesting to see how EK/EY etc handle it, to attract the drying-up pool of experienced pilots to the sand. Cathay already have 7 weeks bonus.
Alot more to come, eyes wide open

[saywhat]

These geniuses have made soooo much money in the market, they still fly aeroplanes....................

[Antman]

[Antman]

Silvers even better, if you can find it.

UT’s $1 Billion Dollar Gold Buy
Apr 18, 20110 Comments


Exclusive Gold Update |Michael Byrd, Editor |The Austin Report

In one of the most remarkable turn of events in Gold history, the University of Texas endowment fund managers announced they have taken delivery of $1 Billion Dollars worth of physical Gold!

UT took delivery of 6,643 actual bars of Gold Bullion, or 664,300 ounces– a quite unusual transaction for any university, one that may set a trend for soaring physical Gold demand in 2011. Note that the investment was not in a Gold ETF or individual Gold mining shares or in Gold futures– but in real, physical Gold Bars. This is exactly the approach the Austin Report has repeatedly recommended to our readers– take possession of your Gold.

Moving 5% into Physical Gold
On Friday, Gold prices hit an all-time high of $1,486 an ounce as the University of Texas Investment Management Co., revealed that 5% of its $19.9 Billion endowment was in actual bars of Gold bullion in a New York bank vault. Yes, 5% of their total assets was moved into Gold.

Well over a year ago, The Austin Report predicted waves of institutional demand were still ahead, demand that would move Gold prices to new levels. Our opinions were based on the research of Shayne McGuire and his latest Gold book, “Hard Money, Taking Gold to a Higher Investment Level.” Shayne is convinced that institutional money, who traditionally owned far less than 1% of their assets in Gold, would eventually be forced to double their ownership of Gold as a hedge for their Stocks, Bonds, and U.S. Dollar investments. He’s often told us that when that day arrived, it would mark a new era for Gold and $10,000 an ounce Gold would not be out of the realm of possibility. (He’s not forecasting $10,000 Gold, but saying it’s time to consider the real possibility that the value of the Dollar may fall precipitously.)

Remember, these are not “Gold Dealers” or “Gold Bugs” or “End-of-the-World Gold Buyers”. These are some of the smartest money managers on the planet who see Gold as the safest place to park their money as an insurance policy against inflation and the debasing of the U.S. Dollar. Institutional money stepping up to buy Gold right now are willing to move in at the $1,500 an ounce price level.

A New Monetary System Coming
The University of Texas’ $1 Billion Dollar bet is a clear indication to us at the Austin Report that the world may be on the verge of ushering in an entirely new monetary system. The U.S. Federal Debt has spiraled out of control and the Federal Reserve continues to print new, almost infinite amounts of paper dollars, inflating away Americans buying power.

Just as central banks in China, India, Russia and many other nations view Gold as a monetary reserve protection against the falling dollar. Major academic institutions and state retirement funds are looking for new asset classes like precious metals and commodities to produce returns that can be put to work as a source of funds for college operating expenses and retirement.

Gold as the Ultimate Hedge
The University of Texas decision to own 5% of their assets in Gold was influenced by a successful hedge fund manager in Dallas, Kyle Bass, who made a fortune shorting sub-prime mortgage securities on the eve of the financial crisis. Kyle Bass is a personal friend of staff members of the Austin Rare Coins & Bullion and his insights have been extremely valuable to us in forecasting the recent rise in both Gold and Silver.
Mr. Bass is on the Texas endowment’s board of directors, and reflects the view of several leading hedge fund managers such as George Soros, John Paulson, and Gold enthusiasts Frank Giustra and Thomas Kaplan.

Bass was quoted on Friday explaining that “Central banks are printing more money than they ever have, so what’s the value of money in terms of purchases of goods and services. I look at Gold as just another currency that they can’t print any more of.”
Gold Poised for an Outbreak

Our opinion is that this latest move by the University of Texas will give many institutional money managers the confidence to dramatically increase their holdings in Gold. A core holding of no less than 5% in Gold may soon be the norm for many institutional investment managers and retirement funds.
If you personally own no Gold, there’s still time to protect your life savings and profit handsomely from the next wave of soaring institutional investor demand and rising Gold prices.

[Laker]

sittingidly,

1 in a gazillion? Dude if you have it all figured out then go make a couple hundred million a year running a hedge fund instead of busting your as# at EK for peanuts. Would Warren Buffet ever say the chances he could be wrong are "1 in a gazillion?" Are you the smarter than the self-made richest man in the world?

Now is probably an ideal time to buy property in Las Vegas. Are you suggesting that the US is on an irreversible downward slide? I think that is highly doubtful. Once the Iproducts, boeings, googles, microsofts, starbucks, mcdonalds, etc of the future are developed overseas then you might be onto something. I'm just a pilot but I would suggest it's a losing trade to bet against the US market over the long term.

[ODMEA]

Lebanon owns 1% of the Worlds Gold Reserves

Lebanon owns 1% of the Gold reserves in the world @ Diran Afarian’s Blog

[donpizmeov]

Sent money to Oz today and got a rate of 4.025!!!! Less than half the rate I was getting when I joined.
At least I will be able to fondly look back at today's rate in a few months time when the AUD hits 1.20!!!
Bring on the election year for a quick short term adjustment!

The Don

[Alconguin Crusader]

At least you Aussie's are getting currency protection and getting a little extra in your paycheck.
I still think it is unfair as we all live in Dubai and we all work for EK but yet some pilots get more money than others. We all have to put up with the inflation in Dubai and your currency protection at least buys a few more beers and groceries.

[Baileys]

The next stage is the taxi driver will be telling me how he's dumping USD. You what that means then.

[ferris]

Going home....

http://http://finance.ninemsn.com.au...t-1-70-by-2014

Hedging, anyone?