Australian dollar

[poyai111]

Ever the optimist - I think the time is ripe for the Generals and Hi So class to cash in big time on their American dollar purchases, devalue the Thai baht and reap the harvest. Say a devaluation of 20% - not a bad harvest if you are an insider.

[Naam]

1 hour ago, poyai111 said:

Ever the optimist - I think the time is ripe for the Generals and Hi So class to cash in big time on their American dollar purchases, devalue the Thai baht and reap the harvest. Say a devaluation of 20% - not a bad harvest if you are an insider.

what stopped you doing the same?

[Cadbury]

More grim news for the AUD. The Reserve Bank has announced it is prepared to take drastic action should the Australian economy falter, which it likely will.

They are contemplating cutting the official interest rate a further 0.5% mid next year and then perhaps to 0% if the economy continues to weaken. 

The consequences are crystal ball stuff but assuredly will not be good for expats.

 

https://www.smh.com.au/politics/federal/cash-rate-could-fall-to-zero-as-rba-fights-to-meet-forecasts-20190801-p52d1f.html

Edited August 10, 2019 by Cadbury
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[IsaanAussie]

The immigration requirement prompted me to move over to Thai banking. Glad I did. With the planned cash limitation law, the existing law that allows the govt to grab your money, and the trend to negative rates, Australian banks are not a safe place to be.