Well, I bought diversified holdings in bonds and I bought the Australian dollar when it was worth 47 cents. So let's see if these two ponies will take me for a ride! BTW, the cheap AUS DOLLAR was one of the big reasons the Australian economy has boomed. In modern economic terms, think of a cheap currency as a great way to export deflation if most everything else is in order for the new financial regimes.
Now as interest rates go up, so too will the value of the Aus$. The Australians certainly aren't happy about the big 'f you' the US just sent the Cairns group with its enormous agricultural subsidy program.
And for all the back and forth goings on with the US dollar, I can tell you, it's staying cheap versus the yen.
Charles J
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