Silver Stackers logo

Silver Stackers

Discussion forum for those
who love to stack precious metals

You are not logged in.

Announcement

Forum registration is temporarily disabled due to a spam attack.
  • Index
  • » Currencies
  • » Aussie dollar to drop below 66c - "benign" collapse ahead

#26 2014-09-13 00:34:46

JulieW
Silver Stacker
From: Australia
Registered: 2010-10-14
Posts: 10,966

Re: Aussie dollar to drop below 66c - "benign" collapse ahead

BxVUybjIYAE_EHo.png
Source: Past Performance

China's Qingdao port said it was investigating whether iron ore warehouse receipts were fraudulently used multiple times to raise finance from different banks, Xinhua news agency reported.

    …"I think it's (copper) got more downside to go," said analyst Vivienne Lloyd at Macquarie. "That (the probe) will have the effect of making the banks extremely cautious about to whom they will issue letters of credit."

    In another sign of concern, copper premiums in Shanghai fell after traders cited concerns about the probe at Qingdao, China's third-largest port.

    "If this is about financing, that's a lot of metal (that could be unravelled). Banks are concerned and nervous about it," said a New York trader.

Prima facie you'd think this might be bullish for iron ore prices but not if it freezes bank lending to traders, which will result in bankruptcies, shocks and dumping of what ore there is onto the market.

http://beta.macrobusiness.com.au/2014/0 … ven-exist/

Offline

#27 2014-09-13 09:18:52

willrocks
Silver Stacker
From: Yesterday
Registered: 2012-05-10
Posts: 7,590
Trades :   29 

Re: Aussie dollar to drop below 66c - "benign" collapse ahead


"You can ignore reality, but you cannot ignore the consequences of ignoring reality." - Ayn Rand

Offline

The following user says thank you for this post: SpacePete

#28 2014-09-13 19:14:33

col0016
Member
From: Australia, Melbourne
Registered: 2011-01-04
Posts: 2,628
Trades :   20 

Re: Aussie dollar to drop below 66c - "benign" collapse ahead

So are people here going to be buying $US since we're apparently going to significantly drop?

Offline

#29 2014-09-13 19:24:20

Holdfast
Member
From: Australia
Registered: 2009-10-15
Posts: 7,936
Trades :   

Re: Aussie dollar to drop below 66c - "benign" collapse ahead

.

Last edited by Holdfast (2014-09-13 19:30:19)

Offline

#30 2014-09-13 19:28:56

long88
Member
From: Melbourne
Registered: 2012-06-19
Posts: 760
Trades :   13 

Re: Aussie dollar to drop below 66c - "benign" collapse ahead

and park it in the us property.. producing income every month.



col0016 wrote:

So are people here going to be buying $US since we're apparently going to significantly drop?

Offline

#31 2014-09-13 19:37:03

SpacePete
Silver Stacker
Registered: 2014-03-01
Posts: 13,375
Trades :   122 
Website

Re: Aussie dollar to drop below 66c - "benign" collapse ahead

col0016 wrote:

So are people here going to be buying $US since we're apparently going to significantly drop?

Possibilities raised by various forum members from another thread: http://forums.silverstackers.com/topic- … e-10c.html

* USD
* Hard assets valued in USD
* Silver
* Gold
* Platinum
* USD ETF on the ASX
* Bitcoin
* CFDs
* HKD
* Mixed hedge portfolio: gold + silver + real estate/land + other currencies (of your choice) + other PM's (platinum/palladium) to diversify
* Shares in companies that make significant income from overseas


Catus amat piscem, sed non vult tingere plantas

Offline

The following user says thank you for this post: petey

#32 2014-09-13 21:30:15

SpacePete
Silver Stacker
Registered: 2014-03-01
Posts: 13,375
Trades :   122 
Website

Re: Aussie dollar to drop below 66c - "benign" collapse ahead


Wow... just wow:

But despite raking in billions of dollars from iron ore every year, WA mistakenly expected to be showered with even higher amounts of royalty revenues, and started spending before the proverbial chickens had hatched.

The state is now using debt to fund its high public-sector wages, its new football stadium and its riverfront redevelopment, and despite being at the epicentre of the decade-long commodities supercycle, no longer has a Triple A credit rating.

"The flow-on effect will hit all the other states, because as WA's royalty rates reduce, their share of the GST which they currently give up to the other states will start to pull back," he said.

"So all of a sudden Victoria, New South Wales, Tassie, Northern Territory, South Australia and Queensland will have to start paying back more GST revenue to WA as a result of the royalties falling in iron ore."

Former federal resources minister Martin Ferguson said a diverse range of businesses would also be feeling the impact from lower iron ore prices.

"It also flows through to business in the loss of jobs and the loss of purchasing power," he said.

"Declines in mining do have an Australia-wide impact. Think of the legal firms, the banks, environmental scientists, the airlines and the caterers, there is a huge multiplying effect."


Catus amat piscem, sed non vult tingere plantas

Offline

The following user says thank you for this post: mmm....shiney!

#33 2014-09-13 21:42:44

willrocks
Silver Stacker
From: Yesterday
Registered: 2012-05-10
Posts: 7,590
Trades :   29 

Re: Aussie dollar to drop below 66c - "benign" collapse ahead

I'm just putting this out there. We should all have a minute of silence to think about how the legal firms and banks will be affected:

"Declines in mining do have an Australia-wide impact. Think of the legal firms, the banks, environmental scientists, the airlines and the caterers, there is a huge multiplying effect."


"You can ignore reality, but you cannot ignore the consequences of ignoring reality." - Ayn Rand

Offline

The following user says thank you for this post: col0016

#34 2014-09-13 21:44:56

willrocks
Silver Stacker
From: Yesterday
Registered: 2012-05-10
Posts: 7,590
Trades :   29 

Re: Aussie dollar to drop below 66c - "benign" collapse ahead

Does anyone have some good strategies to short the AUD?


"You can ignore reality, but you cannot ignore the consequences of ignoring reality." - Ayn Rand

Offline

#35 2014-09-13 22:10:33

smk762
Silver Stacker
From: Westralia
Registered: 2014-09-04
Posts: 1,398
Trades :   15 

Re: Aussie dollar to drop below 66c - "benign" collapse ahead

WA public service is not highly paid, except a few at the top (just like large corporations). For the average worker, compared to the private sector, and FIFO miners in particular, they are underpaid. Most are struggling like anyone else. Over the last 3 years they've had a hiring freeze and made many people redundant, increasing the workload on those who remain, often tasked with duties previously done by those on higher pay levels. Departments that changed their name 2 years ago still can't afford uniforms with the new name and logo. When the previous General Agreement with the union expired, the government let it ride for over a year while "negotiating", and when a deal was finally reached, annual wage growth was less than inflation, job security made a thing of the past, and job satisfaction nothing but a memory.

But yeah, keep blaming the real workers for the inflated salaries of public service "executives", while abusing the rank and file for taking longer to provide services.


Note: No view / opinion I express is to be construed in any way as representative of entities which I may be associated with, including but not limited to employers, clubs, or charitable organisations. All commentary is made as a private citizen, regardless of the method of creative expression, and in accordance with personal integrity and my perception of the public interest. This disclaimer is to be applied perpetually and retroactively.Hi ASIO roll

Offline

#36 2014-09-13 22:23:50

long88
Member
From: Melbourne
Registered: 2012-06-19
Posts: 760
Trades :   13 

Re: Aussie dollar to drop below 66c - "benign" collapse ahead

just short it directly from fx broker..

willrocks wrote:

Does anyone have some good strategies to short the AUD?

Offline

#37 2014-09-13 22:32:08

SpacePete
Silver Stacker
Registered: 2014-03-01
Posts: 13,375
Trades :   122 
Website

Re: Aussie dollar to drop below 66c - "benign" collapse ahead

willrocks wrote:

I'm just putting this out there...

xVqHjlI.jpg


Catus amat piscem, sed non vult tingere plantas

Offline

The following 2 users say thank you for this post: mmm....shiney!, willrocks

#38 2014-09-13 22:44:21

long88
Member
From: Melbourne
Registered: 2012-06-19
Posts: 760
Trades :   13 

Re: Aussie dollar to drop below 66c - "benign" collapse ahead

mortage auction will start to appear more..

property that is not on the chinese investor interests will sell for less.

and we need to do our bid (patriot) to buy/spend more money to get the economy going.. take on more debt...

willrocks wrote:

I'm just putting this out there. We should all have a minute of silence to think about how the legal firms and banks will be affected:

"Declines in mining do have an Australia-wide impact. Think of the legal firms, the banks, environmental scientists, the airlines and the caterers, there is a huge multiplying effect."

Offline

#39 2014-09-14 00:52:41

mmm....shiney!
Silver Stacker
From: 昆士蘭
Registered: 2010-11-15
Posts: 15,735
Trades :   102 
Website

Re: Aussie dollar to drop below 66c - "benign" collapse ahead

smk762 wrote:

WA public service is not highly paid, except a few at the top (just like large corporations). For the average worker, compared to the private sector, and FIFO miners in particular, they are underpaid. Most are struggling like anyone else. Over the last 3 years they've had a hiring freeze and made many people redundant, increasing the workload on those who remain, often tasked with duties previously done by those on higher pay levels. Departments that changed their name 2 years ago still can't afford uniforms with the new name and logo. When the previous General Agreement with the union expired, the government let it ride for over a year while "negotiating", and when a deal was finally reached, annual wage growth was less than inflation, job security made a thing of the past, and job satisfaction nothing but a memory.

But yeah, keep blaming the real workers for the inflated salaries of public service "executives", while abusing the rank and file for taking longer to provide services.

You wouldn't be a public servant by any chance smk?  smile


3<

"Every day is ordinary, until it isn't."

Offline

#40 2014-09-14 01:07:02

boston
Silver Stacker
From: Australia
Registered: 2009-07-06
Posts: 3,995

Re: Aussie dollar to drop below 66c - "benign" collapse ahead

smk762 wrote:

WA public service is not highly paid, except a few at the top (just like large corporations). For the average worker, compared to the private sector, and FIFO miners in particular, they are underpaid. Most are struggling like anyone else. Over the last 3 years they've had a hiring freeze and made many people redundant, increasing the workload on those who remain, often tasked with duties previously done by those on higher pay levels. Departments that changed their name 2 years ago still can't afford uniforms with the new name and logo. When the previous General Agreement with the union expired, the government let it ride for over a year while "negotiating", and when a deal was finally reached, annual wage growth was less than inflation, job security made a thing of the past, and job satisfaction nothing but a memory.

But yeah, keep blaming the real workers for the inflated salaries of public service "executives", while abusing the rank and file for taking longer to provide services.

I have worked in the public service and can state that I was receiving circa 50% more in wages than the private sector. This was for an entry level job.

I also did much less work in the public service than the private sector.

Edit: I also had a complaint against me for working too hard - True story! It really makes you wonder.

Last edited by boston (2014-09-14 01:26:14)


Light travels faster than sound. This is why some people appear bright, until you hear them speak...

Offline

#41 2014-09-14 01:08:04

JulieW
Silver Stacker
From: Australia
Registered: 2010-10-14
Posts: 10,966

Re: Aussie dollar to drop below 66c - "benign" collapse ahead

Incidentally, an article in the Herald Sun today reports that the Defence Dept has 76,187 credit cards (est. 77,000 employees) and ticks up approximately half a billion a year on them.

Mind you they do have limits. 35k for domestic travel and 50k for international.

Offline

#42 2014-09-14 02:59:19

smk762
Silver Stacker
From: Westralia
Registered: 2014-09-04
Posts: 1,398
Trades :   15 

Re: Aussie dollar to drop below 66c - "benign" collapse ahead

Guilty as charged, but nowadays it's not like it was. When I started there were some slackers for sure, most that were pushed towards redundancy or early retirement. It's been downhill for the last 3 years. Maybe I'm just a sucker that likes taking on higher duties without higher pay, but our staff level has been decimated and no-one's being promoted. No doubt some depts get it worse than others, but it's far from easy street on my block.


Note: No view / opinion I express is to be construed in any way as representative of entities which I may be associated with, including but not limited to employers, clubs, or charitable organisations. All commentary is made as a private citizen, regardless of the method of creative expression, and in accordance with personal integrity and my perception of the public interest. This disclaimer is to be applied perpetually and retroactively.Hi ASIO roll

Offline

The following user says thank you for this post: mmm....shiney!

#43 2014-09-14 03:12:24

JulieW
Silver Stacker
From: Australia
Registered: 2010-10-14
Posts: 10,966

Re: Aussie dollar to drop below 66c - "benign" collapse ahead

smk762 wrote:

Guilty as charged, but nowadays it's not like it was. When I started there were some slackers for sure, most that were pushed towards redundancy or early retirement. It's been downhill for the last 3 years. Maybe I'm just a sucker that likes taking on higher duties without higher pay, but our staff level has been decimated and no-one's being promoted. No doubt some depts get it worse than others, but it's far from easy street on my block.

I have a few friends who'd fervently disagree.

To put it in a word or two: hierarchical middle managers.

Offline

#44 2014-09-14 03:26:25

SpacePete
Silver Stacker
Registered: 2014-03-01
Posts: 13,375
Trades :   122 
Website

Re: Aussie dollar to drop below 66c - "benign" collapse ahead

smk762 wrote:

Guilty as charged, but nowadays it's not like it was. When I started there were some slackers for sure, most that were pushed towards redundancy or early retirement. It's been downhill for the last 3 years. Maybe I'm just a sucker that likes taking on higher duties without higher pay, but our staff level has been decimated and no-one's being promoted. No doubt some depts get it worse than others, but it's far from easy street on my block.

Interesting to hear about big staff level reductions. Happening where I work too (private sector). Everything is cut to the bone. Entire floors cleared of people over the past 3 years - people cut or moved offshore. Things won't get better.

Do you still at least have fixed work hours? Back when I had had a public sector job, pay was shit but the hours were good. Anything over standard hours and we got overtime pay or time in lieu.


Catus amat piscem, sed non vult tingere plantas

Offline

#45 2014-09-14 04:28:09

smk762
Silver Stacker
From: Westralia
Registered: 2014-09-04
Posts: 1,398
Trades :   15 

Re: Aussie dollar to drop below 66c - "benign" collapse ahead

Time in lieu still active. No overtime except during summer if there is a really bad fire.
The stereotype of lazy overpaid public servants is outdated in WA for the front line workers.
CSIRO was hit hard - http://www.news.com.au/finance/economy/ … 6937209145
It's been as bad or worse for most other departments (excluding defense).


Note: No view / opinion I express is to be construed in any way as representative of entities which I may be associated with, including but not limited to employers, clubs, or charitable organisations. All commentary is made as a private citizen, regardless of the method of creative expression, and in accordance with personal integrity and my perception of the public interest. This disclaimer is to be applied perpetually and retroactively.Hi ASIO roll

Offline

#46 2014-09-14 04:44:18

mmm....shiney!
Silver Stacker
From: 昆士蘭
Registered: 2010-11-15
Posts: 15,735
Trades :   102 
Website

Re: Aussie dollar to drop below 66c - "benign" collapse ahead

smk762 wrote:

Time in lieu still active. No overtime except during summer if there is a really bad fire.
The stereotype of lazy overpaid public servants is outdated in WA for the front line workers.
CSIRO was hit hard - http://www.news.com.au/finance/economy/ … 6937209145
It's been as bad or worse for most other departments (excluding defense).

Slash it, slash it, slash it, slash it, slash it.  big_smile


3<

"Every day is ordinary, until it isn't."

Offline

The following 2 users say thank you for this post: hawkeye, bordsilver

#47 2014-09-14 05:16:39

hawkeye
Silver Stacker
From: Perth, Australia
Registered: 2010-11-10
Posts: 3,337
Trades :   25 

Re: Aussie dollar to drop below 66c - "benign" collapse ahead

The thing that I find funny about people in the public sector is that they pay taxes.  As if somehow they are helping to pay for themselves.

It's kind of like Apple charging their customers twice as much and then giving half of it back and saying "look how generous we are to our customers".

Last edited by hawkeye (2014-09-14 05:20:14)

Offline

The following user says thank you for this post: willrocks

#48 2014-09-14 05:50:27

hawkeye
Silver Stacker
From: Perth, Australia
Registered: 2010-11-10
Posts: 3,337
Trades :   25 

Re: Aussie dollar to drop below 66c - "benign" collapse ahead

smk762 wrote:

Time in lieu still active. No overtime except during summer if there is a really bad fire.
The stereotype of lazy overpaid public servants is outdated in WA for the front line workers.
CSIRO was hit hard - http://www.news.com.au/finance/economy/ … 6937209145
It's been as bad or worse for most other departments (excluding defense).

Depends in which part of the public sector you are in I guess.  The reality is though, taken as a whole, you're way too expensive.

Last edited by hawkeye (2014-09-14 05:51:04)

Offline

#49 2014-09-14 05:58:10

smk762
Silver Stacker
From: Westralia
Registered: 2014-09-04
Posts: 1,398
Trades :   15 

Re: Aussie dollar to drop below 66c - "benign" collapse ahead

Yeah, but if we didn't there would be outrage. Strangely no-one blinks twice at the tax free pensions for judges politicians.
http://www.theaustralian.com.au/nationa … 6613680013


Note: No view / opinion I express is to be construed in any way as representative of entities which I may be associated with, including but not limited to employers, clubs, or charitable organisations. All commentary is made as a private citizen, regardless of the method of creative expression, and in accordance with personal integrity and my perception of the public interest. This disclaimer is to be applied perpetually and retroactively.Hi ASIO roll

Offline

#50 2014-09-14 06:02:16

JulieW
Silver Stacker
From: Australia
Registered: 2010-10-14
Posts: 10,966

Re: Aussie dollar to drop below 66c - "benign" collapse ahead

smk762 wrote:

Yeah, but if we didn't there would be outrage. Strangely no-one blinks twice at the tax free pensions for judges politicians.
http://www.theaustralian.com.au/nationa … 6613680013

This:

THE federal government has decided to exempt state judges and politicians from its planned tax on defined-benefit pensions in order to avoid the risk of a constitutional challenge.

The government is also considering legal advice on whether the risk of a challenge justifies extending the exemption to the federal judiciary.

So why not a constitutional challenge from the rest of the poor bunnies hit with the planned tax?

NR where is this petition for a referendum you spoke about?

Offline

  • Index
  • » Currencies
  • » Aussie dollar to drop below 66c - "benign" collapse ahead

Board footer

Powered by FluxBB