Announcement

Collapse
No announcement yet.

Exchange rate...Please explain.

Collapse
X
 
  • Filter
  • Time
  • Show
Clear All
new posts

  • Exchange rate...Please explain.

    Can someone simply explain US & AUS exchange rate. My example. I dig up a pure gold nugget up in Australia and on today' s exchange rate it's only worth $560us. However If I dug up the same gold nugget in America it's worth $1000...Why has $440aud gone to silicon heaven, I mean GOLD is GOLD in any universe. Why isn't it equally valued.
    This is really doing my head in.
    Gemini2544's 4th Pinball meet Saturday 21/03/2020

  • #2
    Oh, so you've only just realised that we are mere minions to the USA and UK.

    Comment


    • #3
      The value of gold is in US dollars like many world products like barrels of oil however this regarding oil is broken down even further. Brent Sea oil is in pounds sterling where as Texas Oil is in US dollars however they convert to the same amount. Diamonds are the same only it is Pounds Stirling as the Poms own the diamond industry.

      Comment


      • #4
        The reason why Colonel Gaddafi was killed by the USA pretty sure it was gold or oil he wanted to trade in a dif currency think it was oil though.

        Comment


        • #5
          Pretty sure i read somewhere Libya had more gold per capita than the UK and another reason he wanted to change currency anyway it cost him his life.

          Comment


          • #6
            Still does not explain why the Gold price is not equal internationally.
            Gemini2544's 4th Pinball meet Saturday 21/03/2020

            Comment


            • #7
              Originally posted by Gemini2544 View Post
              Still does not explain why the Gold price is not equal internationally.
              I don't understand - the price of Gold in US$ is the same everywhere. The markets are too efficient for it not to be. Why do you say it's not equal?
              Livin' a lie.....

              Comment


              • #8
                Originally posted by Gemini2544 View Post
                Can someone simply explain US & AUS exchange rate. My example. I dig up a pure gold nugget up in Australia and on today' s exchange rate it's only worth $560us. However If I dug up the same gold nugget in America it's worth $1000...Why has $440aud gone to silicon heaven, I mean GOLD is GOLD in any universe. Why isn't it equally valued.
                This is really doing my head in.
                your example is plainly wrong so the whole thing falls to bits.

                if you dig up a pure gold nugget up in Australia and on today' s exchange rate it's only worth $560us then its also worth 560 us in America not 1000..

                the missing bit thats in your head is probably a conversion from usd gold value price to AUD money . you lose on the currency after conversion not the actual gold

                Comment


                • #9
                  better explanation is Now Pinball Machines have gone up 20%
                  Australian Distributors for Planetary Pinball, Chicago Gaming, American Pinball.
                  Your one Stop Shop For New Pinball & Arcade Games.

                  Comment


                  • #10
                    Originally posted by Ballypinball View Post
                    better explanation is Now Pinball Machines have gone up 20%
                    If that is what is happening I think they will be holding onto them for a very long time. I suspect Stern would be laying people off right now if not in the next week. I see no reason what so ever why the pinball industry would be isolated from what is going on.

                    Comment


                    • #11
                      Originally posted by Ballypinball View Post
                      better explanation is Now Pinball Machines have gone up 20%
                      Gold can be traded as currency and an investment whereas pinballs are neither one of these. Gold dug up from the ground will be worth its weight regardless of USD or AUD it will always balance out through currency conversion as cost per ounce. Just keep it quiet if you dig some up.

                      Comment


                      • #12

                        Comment


                        • #13
                          I don't understand why our AU$ is at 58c US$. Surely USA is just as f*cked as Aust (if not more) with Covid19. We are being told that we produce 3x enough food, we still have minerals in the ground and we seem to be managing the problem better than some other countries.
                          Is someone able to explain this in simple terms so a layman like me can understand why this is so.
                          I know the world is pretty f*cked up right now, but I don't understand why this makes our AUD so low. We are all on the same planet, each country is facing the same problems...

                          Comment


                          • #14
                            My limited understanding is is all about where the money is being invested around the world - wherever investors can 'park' their money so it both grows and at the same time remains safe? (and by money I mean billions and trillions). Everything is driven by the almighty dollar.

                            Our economy booms when there is demand for our resources by other countries (no-one's buying our resources in the same quantities as 5+ years ago - eg China's slow down in growth). Investors look to cash in on a booming economy and where the Government and markets are stable Vs other economies which are in decline or unstable or under performing. War for instance, or the threat of war, sees investors looking for safe havens.

                            At the moment there is less money being invested into Australia than in previous years as investors instead shift their money to markets that offer a better and safer return. Remember that with Australia's small population (around 24mi) and small economy by world standards, to compete on the world stage we have to be a significant exporter of resources /products/services that the world wants. If that demand is not there then all we have to offer investors is a small but stable economy and government. It would be different if we had an economy that was ten or twenty times the size then we would be better placed and less at risk to market forces.

                            You would do the same if a large bank offered you a better return on your investment than your current small bank. You would withdraw your money from your current small bank and move it over to the better performing larger bank. Your old bank suffers a decline in their 'value' ($AUD) while the new bank's value ($US) goes up with the new investment. Truth is they were both still good / sound banks but one is seen as a better performer when it comes to getting a higher return.

                            Greedy bastard investors...... no more toilet rolls for them.

                            Comment


                            • #15
                              A few weeks ago i had to email Steve young and say I want to pay the bill now. Lucky I did because a day later the dollar dropped. Went from bad to worse.
                              But a low Aussie dollar is great for exports eg wool and grain.

                              Sent from my AGM A8 using Tapatalk

                              Comment

                              Users Viewing Topic: 0 members and 1 (guests)
                              Working...
                              X