- Joined
- Oct 28, 2014
- Messages
- 1,873
The British pound is now $1.14. I wish I had some spare cash.
Exact opposite down here.
$1Aud = $0.57 Usd
$1Aud = $0.50Gbp
Damn
Oh and if you are in USD a great time to ring up TTI and get a proper box.
Better make that steel ballsIf you have brass balls it is a good time to buy stock as well.
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.