Discussion in 'Access Norton Pub' started by seattle##gs, Mar 19, 2020.
The British pound is now $1.14. I wish I had some spare cash.
Hey great I need some engine parts for my 750 S project.
Exact opposite down here.
$1Aud = $0.57 Usd
$1Aud = $0.50Gbp
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.
It's a good time for me to move money from my US accounts to NZ.
it makes no sense. the world is an total mess and the american dollar move up against all other major currencies, even though USA is in the same craphole with the rest of the industrialized nations... and you can't blame this on Trump , so mr financier! what gives?
GB should improve in the future after pulling out of the beggars colony. The US is going to take a big dive with all of this closing down because of the virus.
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.
Every currency cant tank... there has to be a major with an upside and there is no more Deutsche mark and who wants it to be the Yuan?
One thing that has come out of this here in Aussieland is business that stopped making or buying Aussie products and importing cheap made products from China but still selling it at high prices here so they get greedy and to make more profits and now China stopped shipping their products and now the wheel on the bus is starting to fall off, it has woken up a lot of companies that have gone down that road and they are running out of stock they can't get and a lot might be put out of business and I bet they don't care about their work force although they have made big profits from cheap imports selling it for high prices.
The Gov and banks are stopping business loans for 6 months so they can ride it through but no such luck for the working man who might be out of work and have home loans to pay off, I wonder if the big banks will help them.
I feel sorry for all the casual work force there are over 3 million casual worker in Aussieland out of 24 million people who will have no benefits at all when they get put off.
The total panic has sent all the funds into the $, all the helicopter money released to keep the markets fed with liquidity will eventually fuel inflation. The $ is not where you want to be when that goes off.
If you are in dollars it is indeed a good time to buy UK. If you have brass balls it is a good time to buy stock as well.
...but your out look better be LONG term.
Ill stick to Norton and Triumph parts this week!
Oh and if you are in USD a great time to ring up TTI and get a proper box.
Now THAT is some sensible talk ...!
We were planning to be in the UK (Bath) for 5 months, beginning May 20 so we have shifted some USD into GBP for our time there. Of course, at the moment, it seems quite possible...maybe even likely...that there won't be any such traveling allowed on May 20...
We are thinking that if traveling is resumed by mid-summer, we'll still make the trip and return in Jan. We have often said we should spend one Christmas in Bath; maybe this is the year! But we wouldn't go any later than mid-summer.
Possibly a good time to buy telecom / isp stocks I reckon.
One does wonder how long the lock down will go on for. How the world can not work and still pay bills is beyond me and I suspect beyond the toffs who run the shop.
I think after a month or so people will just go about their lives and ignore the dire warnings. We shall see.
Better make that steel balls
I've thought "this must be the bottom" three times in the last three weeks and bought more of my best stocks and bonds. Been proven wrong all three times!
The Power of Procrastination: I too meant to make a move but due to inertia didnt get to it. I get the last laugh on my mother.
However lacking X-ray vision and pretty much any vision at all I cannot tell when the panic will pass and although the market always
rises long term at my age long term is getting to have a new meaning.
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.
Gold Standard? I thought you were talking about Nortons.....