thanks dlux big read 15 tonnes really hit it down - though that isnt stopping the market rushing back towards $440 US oz and probably $450 again by the end of next week - only 83 tonnes to go then the ETF is outta gold and up she goes. Could take 6 months but they wont hold it back
In terms of the US debt - well as the US$ drops they are able to export more - the US trade balance should go to surplus when the asians run out of money to keep the US$ up then of course all their Trillion $ surpluses of US$ will have to be given up to the US in terms of more inportation of US goods and services.
This will be the balancing point and in my opionion each of these cartel and central bank moves only delay the inevitable - as for australia well we are already in slowdown mode - what needs to happen now is to reduce imports or have the AUS$ go back to 60c US$ and likewise against other global currencies and that will increase revenues from exports - the RBA would be well advised to cut itnerest rates adn the howard government to really alter negative gearing rules on property just enough to cool any subsequent property and inflation cycle
Of course cutting the corparate tax rate to 30% or even 25% would help - GST up to 12% and cut income taxes by about 3%
More money for port expansions - allow GM crops - to boost yeilds - tax breaks for R and D and of course tax breaks for mining explorers
Of course this is all dreming but fun times ahead.
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