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Politics : High Tolerance Plasticity -- Ignore unavailable to you. Want to Upgrade?

To: Edmond Katonica who wrote (8456)	9/21/2001 3:31:12 PM
From: Tommaso	Respond to of 23153

Well, Edmond, I do see that the Aussie and US current account balances are about the same in terms of GDP: about 4% right now. You therefore may well be correct that there's reason to worry that the Australian dollar might not appreciate much against the US dollar. I can't really understand what's going on with Aussie gold companies and how serious it is for the country as a whole. Apparently much or most or possibly all their gold production was sold ahead at much lower prices, especially given the decline of their currency. These troubles also seem to be affecting their banks. When I look at a five year chart of the Aussie dollar in terms of the US dollar, however, the decline is so extreme that it may be about time for a recovery. It does look a lot like the charts for precious metals--though there is a lot more to Australia than precious metals. Still figuring!