- Oct 28, 2014
The British pound is now $1.14. I wish I had some spare cash.
I was lucky when rebuilding my Norton just over 7 years ago when the Aussie $$$ was high and in line with the US $$$ and high to the pound and have also stocked up on a few things that do wear so now no need to buy parts, but things haven't changed with the oil companies oil prices dropped and Aussie $$$ low fuel cost should be low but the oil companies are still ripping us off and not pasting the flow on, greedy bastards and the Gov don't complain as they get their higher tax and GST that they put on fuel cost, we pay 50% tax on our fuel, tax and GST so the Gov double dips on fuel cost and the AAA who keep things in line don't have the balls to do anything about it.Exact opposite down here.
$1Aud = $0.57 Usd
$1Aud = $0.50Gbp
Not to go into the weeds here but the Federal Reserve (which is neither Federal or a Reserve) is busy printing money out of nothing. There is no backing for US currency but the US reputation since we were take off the gold standard. I will get off my soap box now.A financial "expert" answered that exact question yesterday on a TV news show - he said it's the "safest" currency because it is the world's only "universal" currency. He explained that it can be used in almost any country for major transactions - regardless of what the local currency may be. That makes it more valuable, especially in unstable times. He said that the longer this goes on/the worse it gets, the dollar will likely continue to improve against most currencies. Unless there is a total collapse of the USA banking system, whatever the virus does in the US won't have a negative affect on this.
NOTE: I'm just repeating what he said! I don't understand it either. I would have thought the dollar would tank like the stock market. My own financial expertise extends to...well basically nowhere.