Yawn! Okay, what's up? Oh, yen moving minuscule amounts. Who cares? It was 250 to the $1, then 80 to the $1 [couldn't borrow $1m in yen to buy MSFT back then damn - banks said no], Pound = $1 parity parties were being prepared, then cancelled. Up and down, round and round. Inflation reaching 6% was going to destroy the world [1960s]. It hit 20% or so here in the 80s. Still nice here.
Just be in the right place. Sell the gold. Buy Q.com. Hold! Wait for Steinbrecher boxes and new spectrum paradigm with cdma2000 to make you rich. Gold will just sit there for another 10 bn years, doing nothing. Money will meltdown faster than a snowball in hell.
Ramsey, I reckon you are talking your book! You are too long in the tooth for this Chicken Little stuff.
Meanwhile:
1] 2GHz Spectrum auction delayed in NZ due to moaning by entrenched mobile operators who claim they need to see the form of 3G. Maybe not auctioning now until March! Competitors say they are just protecting their profits.
2] Telstra in Australia will run 800MHz cdmaOne cellular alongside GSM to replace analog 31 Dec 1999. BIG political problems caused by stupid GSM decisions by Labour government a few years ago. GSM can't provide the coverage of cdmaOne in rural and marine areas - see issue 353 Infotech Weekly www.infotech.co.nz page 18 [not out yet on Web].
Looks like the end of the road looming for GSM in NZ and Australia.
3] Iridium phones NZ$6000 and per minute prices NZ$5 per minute. Give or take a bit, according to NZ Herald, page C3, 13 July. That is about US$3000 and US$2.60. [Ed: no mention of monthly charges, but I guess there will be some]
"In Australia, they will pay around $A90 [$107][Ed: that is about US$55] a month and a lower call charge, although, as Mr Herring [Ed: he's the marketing and and sales director of the local operating franchise, Iridium Pacific] points out, there will always be a differential between calls within a country and to other countries, reflecting interconnection and last-mile transmission costs."
All quiet on the Western Front!
Meanwhile, Dubai crude oil down to US$11.25 per barrel. That's GOOD for those who are confused about falling oil and other commodity prices. Cheap things are good. Deflation is good [but you won't be allowed to enjoy it - your mattress stuffing is going to be devalued, diluted, inflated and generally nicked off with].
Look at the discount on oil which USA is enjoying. Poor Japan - has to sell a lot more Toyotas and Sonys to pay for a barrel of oil. Very good for USA economy and stockmarket. USA thrives on oil. Japanese, like Koreans, have to cancel overseas trips, stay home, work and buy cdmaOne phones.
Mqurice
[18 days to go] |
