scotartt on Thu, 20 Apr 2000 17:39:27 +0200 (CEST)

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Re: <nettime> A16 digest

> [ ... ] Australia is a client-state of the US economy. When Wall Street
falls so
> does the Aussie dollar.

This last sentence is a perfect inversion of the truth. The first sentence
is true for everywhere. 

When Wall St falls, the value of the aussie dollar goes up, as investors
take their money out of the uncertainty of the stock market and invest it
in 'quality' (ie low risk, low yeild) investments like Government Bonds. 
The US dollar usually falls after a stock market scare as money leaves
that economy. A low dollar means we earn more from exports, too, anyway,
its not "bad" for the currency to be "low" unless you are living
completely off your credit card and like to buy only expensive imported

It would really be handy for the left, if, perhaps, they bothered to learn
the basic details about the thing they continually declare to be their
enemy. It's irritating to say the least. 


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