and you saw it today ???? AUD has been stronger than USD from last 6 months...

guy_tensed · Apr 8, 2011 3:06 PM

i was watching as it was gaining on the US $ but just now found out that it overtook it

newton123 · Apr 8, 2011 3:25 PM

So has canadian $$ Too much capitalism is what is happening to US economy. This is what happens when capitalism does not work as described in book. dumba$$ are fighting in the senate on whether or not to spend little money on single mothers or students while not questioning once whether they can cut anything on Millitary.

sidster · Apr 8, 2011 3:37 PM

sidster bro, It's not the capitalism at all. It's exactly the opposite. U.S has long abandoned the principles of capitalism. What we know today as capitalism in U.S is not a free market economy but a fascist corporatism where the big corporations are in collusion with the government. The recent so called "Bail Outs" are the prime examples of this fascist corporatism, the biggest financial heist by the white collar criminals in the history of mankind. In true capitalism, failure is rewarded with liquidation and bankruptcy but what did the government do, they bailed out those failures with our taxes. They were "too big to fail". Corporatism is socialism for the corporation. But in the bigger scheme of the things, the ultimate goal here is to destroy the U.S dollar and remove the dollar as the World Reserve Currency and this is all a design to create a One World Central Bank headed by the IMF/ World Bank/ Bank of International Settlement to further consolidate and dominate the world economic system in fewer hands of the International Banking Elites like the House of Rothschilds / Rockefellers et al. I have been following the decline of dollars for quite many years and I have personally dumped the possession of all my savings in dollars. Currently I have 70% in physical Gold and Silver (Not Gold ETFS) in my portfolio. The U.S Dollar is the next Zimbabwean Dollar. Unless we don't destroy the Federal Reserve Bank and fiat monetary system and start a sound monetary policy backed by Gold and Silver, the U.S economy will be completely doomed. Like you said, start with cutting the military budget and dismantle some 700 plus U.S bases all around the world. This should be the first step to save the U.S economy.

Nas · Apr 8, 2011 4:28 PM

Nas bro, I am saying the same thing. Capitalism has already failed some 25 years ago. Now what we have is a phoney capitalism. The only way this capitalism can survive is by spendiing and spending as much as its needed. If they stop spending, this country will come to halt. Spending is the only way it can keep on going. Its a death vs slow death. If there was a true capitalism in US, the government bail outs should not have occured. If the bailouts had not occured god knows when and in what manner the world would have gone down and then revived. Yes, they can cut on Millitary but once they cut it they will not remain as the bully of the world and the world would not listen to them. What is holding other countries from not to trade Oil in Dollars?? Its the American dominance that is holding that together, once that dominance is gone, forget about passing unfair international laws. I guess this is how the profit taking model comes to failure. As the profit takers grow larger and bigger, they become so powerful that the rule of "free market" no longer governs them. They become bigger than the free market, the government, and the "invisible hand" becomes thier "right hand".   Last edited: 09-Apr-11 10:54 AM

sidster · Apr 8, 2011 5:17 PM

A NAS, but you are aware that oil is still traded on USD ? And some countries in the EU are talking about thrashing the euro. Forget about currencies being backed by gold and silver and forget about USD being

pichas · Apr 8, 2011 5:22 PM

Backed by gold, those days are long gone. As far as I see its still capitalism, all the things produced are done for profit and they are cutting jobs and buying less and investingless just for the purpose of making profit which in turn is making people lose their jobs left and right. Lets put it this way, the USA stopped producing and the whole world is suffering. Its like there is no market. The us can print as much dollars as it wants, and military spending has little impact on the us economy. You always amaze me with your post s nas, please enlighten us more with your wisdom. And instead of citing what was on the news for the past two years, please explain us and use some easy words.( everytime I read your posts the words are hard, very hard; but don't tell me my English is poor)

pichas · Apr 8, 2011 5:31 PM

The Reason Aus$$ is rising , its not just because of USA, & seems like it is going to go higher up,It will have a serious impact on Export as aus$$ rise: Unemployment rate in Australia fell to 4.9 percent in March -beating forecasts for 5.0 percent, Investors borrowing low-interest Japanese yen and sell them for higher-yielding assets such as the Australian dollar. Another reason behind the aussie's rise is the fact that the Australian economy have moving quite well in comparision to other countries Turmoil in arab nations such as Libya and uncertainty about the future of nuclear power in Japan has boosted the prospects for Australia's substantial natural-gas reserves Recent  jobs data supported the Australian central bank's view that the nation's economy will accelerate this year as well.

crazyNep · Apr 8, 2011 6:35 PM

Fed is printing money and what we are seeing right now on foreign exchange Is a sign of an inflation. That is all.

dolphin · Apr 8, 2011 6:44 PM

The other thought is, how else would USA pay the 14 Trillion debt. Would they ever be able to pay that? How long will it keep on paying interest on that debt? Here are my few specs, World War III - Destroy all the debt holders and restart a new game on the sand board. Lower the US Dollar value to a level where India, China and Japan will sell their Dollar holding at a 50% - 80% loss back to US. Imagine if the dollar plummets 50% - 80% from where India, China, Japan and the rest of the world has bought dollar at  and then US buys it back at less than half price. Create a new resource or technology and sell the product to the rest of the world to pay the debt. Revolution in green energy or Technology. Keep on playing the same game that is going on. The game of  "Lagyo" .  Similar to tol ko dada  who says " Lagyo" to his neighbourhood "Bhatti Pasal" but never ever pays back. Last edited: 09-Apr-11 11:26 AM

sidster · Apr 9, 2011 11:02 AM

 I might be wrong but Australia is in a housing bubble that is just about to burst, much like in the US back in 2008.

riten · Apr 9, 2011 11:16 AM