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Gold/Mining/Energy : Big Dog's Boom Boom Room

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To: JimisJim who wrote (186877)	12/4/2014 2:48:28 AM
From: Elroy Jetson	Read Replies (1) of 206326

On reading the last post there's a chronology problem regarding myself and the Australian Dollar. When I was in Australia in 1997 the AUD was somewhere around $0.64 or so, but prices still seemed quite a bargain so I opened a bank account there - ultimately hoping to buy real estate, but that proved to be a problem if you don't have a residency permit to live there. When the Australian Dollar tumbled again to $0.49 or so, where it had been years earlier, that's when I wired a bunch of money to my accounts in Australia, in spite of not being able to use it to buy real estate. I moved some back to U.S. Dollars in 2007 when the AUD hit $0.90 which was too bad as the currency ultimately rose higher, but more importantly, interest rates there remained high while bank interest rates in America and most of the rest of the world tanked after 2008. Declining interest rates and a decline from AUD $1.10 prompted me to move the balance back to U.S. Dollars. Is there another currency I'd rather hold currently than U.S. Dollars? No. If you're there in person valuing a currency is in many ways a lot easier than valuing a stock.

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