Forget the Canadian dollar, the Australian dollar is close to parity as well

[jaykrue]

From http://www.abc.net.au/news/stories/2007/10/01/2047661.htm

The Australian dollar has opened at almost 89 US cents this morning, after peaking at a new 18-year high against the declining United States dollar.

The local currency peaked at 88.94 US cents this morning - its highest level since February 1989.

The rally came as the US dollar plummeted against its major trading currencies, with its trade weighted index dropping to its lowest level since the US Federal Reserve launched the data series in 1973.

That weakness has been driven by the likelihood of another interest rate cut in the US, and further poor prospects for the country's housing market.

Currency analysts say the Australian dollar is likely to trade within a range of 88.5 and 88.9 US cents today, in what is expected to be a muted session because of the public holiday in some states.

At 10:30am AEST, the dollar was buying 88.93 US cents.

My bet's on the Aussie dollar reaching parity by Xmas or (at the latest) January. Also, I expect another Fed cut to try and stem the problem but I think it's more symptomatic of a fiat system reaching critical mass before imploding the clusterfcuk known as the whole US economy. I tell you guys right now, when the US dollar reaches parity with the Zimbabwe dollar (about 1.00 USD=29,997.00 ZWD), it's time to move to Europe... and even then I don't know if that will help. Time to stock up on commodities because cash isn't king anymore, at least not in the US.

 

[Ikohn4ever]

just bring over a bullfrog, that will fuCk up things over there for awhile

 

[CocheseUGA]

If you're smart, you'll be investing in GBP right now. It's not going to come back down for awhile, which makes buying anything from over there a serious bitch.

 

[mykevermin]

The new retro fashions, ladies and gentlemen.

 

[CrimGhost]

[quote name='mykevermin']

The new retro fashions, ladies and gentlemen.[/QUOTE]

I don't see an onion on his belt.