Go Back   Old Project Avalon Forum (ARCHIVE) > Project Avalon Forum > Project Avalon > Economy and Currency

Notices

Reply
 
Thread Tools Display Modes
Old 10-26-2008, 10:22 PM   #1
vesta
Avalon Senior Member
 
Join Date: Sep 2008
Location: Rural NSW, Australia
Posts: 141
Default Monday Morning Madness in Oz.........

Hi folks,

the market here in Australia is following the closing patterns of the US on Friday and taking a bit of a battering...here's a few links to peruse:

Dollar Dives as Investors flee to greenback,
http://www.bigpond.com/news/business...27/2401710.asp

Local Shares dive again amid Asian Rout,
http://money.ninemsn.com.au/article.aspx?id=652956

Australian Funds in Crisis after Bank Guarantee,
http://money.ninemsn.com.au/article.aspx?id=652712

since the majority of European and banks of the Americas are yet to start their new wk's trding this should be interesting to see the repercusions over there as well.

Blessings,

Vesta

Last edited by vesta; 10-26-2008 at 11:43 PM.
vesta is offline   Reply With Quote
Old 10-26-2008, 10:49 PM   #2
jonah70757
Guest
 
Posts: n/a
Default Re: Monday Morning Madness in Oz.........

Stay liquid stay safe until New monetary system is worked out!
  Reply With Quote
Old 10-26-2008, 11:32 PM   #3
Rocky_Shorz
Avalon Senior Member
 
Join Date: Sep 2008
Location: USA
Posts: 1,098
Default Re: Monday Morning Madness in Oz.........

in your first link it should say Flee "to" Greenbacks...
Rocky_Shorz is offline   Reply With Quote
Old 10-26-2008, 11:44 PM   #4
vesta
Avalon Senior Member
 
Join Date: Sep 2008
Location: Rural NSW, Australia
Posts: 141
Default Re: Monday Morning Madness in Oz.........

Thanks RS,

noted amd amended!

How many hrs b4 your mkts open now?

Blessings,

V.
vesta is offline   Reply With Quote
Old 10-26-2008, 11:51 PM   #5
Rocky_Shorz
Avalon Senior Member
 
Join Date: Sep 2008
Location: USA
Posts: 1,098
Default Re: Monday Morning Madness in Oz.........

I've been watching the Aussie Free fall, doesn't look good, is New Zealand Closed?

We have a dozen hours until we open
Rocky_Shorz is offline   Reply With Quote
Old 10-27-2008, 12:33 AM   #6
vesta
Avalon Senior Member
 
Join Date: Sep 2008
Location: Rural NSW, Australia
Posts: 141
Default Re: Monday Morning Madness in Oz.........

Hi RS, haven't seen anything from 'the land of the long white cloud', perhaps one of our peers from NZ can provide commentary on that?

Here is an update on the AUD ride @ the moment:
http://money.ninemsn.com.au/article.aspx?id=655534

It is unusual for me to be able to be on at this time as I'm usually at work and definitely unable to access this or any other forum from those premises....so being unwell as I am, today I am able to post updates as they come in instead of first thing in the a.m or after work in the P.M.

I think it will be interesting to see the freefall that I believe is about to occur.

I remember a visit to the US that I took with one of my kids back in 2002 and then we were getting about 0.51 cents to the USD - I don't know if it's headed back to that or..................

Guess it's time to strap on our parachutes and see were the prevailing winds will blow us to.

Fair winds RS, fair winds,

blessings,

Vesta.
vesta is offline   Reply With Quote
Old 10-27-2008, 12:53 AM   #7
mmerlinn
Avalon Senior Member
 
Join Date: Oct 2008
Posts: 26
Default Re: Monday Morning Madness in Oz.........

Quote:
Originally Posted by vesta View Post
Thanks RS,

noted amd amended!

How many hrs b4 your mkts open now?

Blessings,

V.
Markets open in U.S. in about 12-1/2 hours, about 930 EST (GMT-4 I think).

Quote:
The New Zealand market is closed for a public holiday.
http://money.ninemsn.com.au/article.aspx?id=655557

Last edited by mmerlinn; 10-27-2008 at 01:03 AM.
mmerlinn is offline   Reply With Quote
Old 10-27-2008, 12:58 AM   #8
vesta
Avalon Senior Member
 
Join Date: Sep 2008
Location: Rural NSW, Australia
Posts: 141
Default Re: Monday Morning Madness in Oz.........

Cheers, mmerlinn.

Should be a giddy-up kinda day, I'm feeling it in my waters and the north-westerly winds are blowing here at the moment - usually brings in some cranky weather with it, .....

Blessings,

Vesta.
vesta is offline   Reply With Quote
Old 10-27-2008, 01:06 AM   #9
vesta
Avalon Senior Member
 
Join Date: Sep 2008
Location: Rural NSW, Australia
Posts: 141
Default Re: Monday Morning Madness in Oz.........

Latest update on the AUD:

http://money.ninemsn.com.au/article.aspx?id=655564
Aussie dollar a 'whipping boy'
http://www.news.com.au/business/stor...-31037,00.html
Self-funded retiree left with $5 after fund freeze
http://www.news.com.au/business/mone...-14327,00.html
RBA steps in as dollar tumbles
http://www.news.com.au/business/stor...35-462,00.html

V.

Last edited by vesta; 10-27-2008 at 03:33 AM.
vesta is offline   Reply With Quote
Old 10-27-2008, 01:09 AM   #10
blastawaycas
Avalon Senior Member
 
blastawaycas's Avatar
 
Join Date: Oct 2008
Location: Middlesbrough United Kingdom
Posts: 229
Default Re: Monday Morning Madness in Oz.........

just under 8 hours in UK before the markets open and the fun begins thats if it kicks off at 9.00am gmt, should be intersting thanks forkeeping us posted cobber!!
blastawaycas is offline   Reply With Quote
Old 10-27-2008, 01:19 AM   #11
vesta
Avalon Senior Member
 
Join Date: Sep 2008
Location: Rural NSW, Australia
Posts: 141
Default Re: Monday Morning Madness in Oz.........

Hi BAC,

so by rights our mkts should close just as yours are opening for business, and the UK will be a few hrs b4 the US - will definitely post an update by then and will wait with interest to see how the day plays out around this blue ball....

Blessings,

V.
vesta is offline   Reply With Quote
Old 10-27-2008, 01:25 AM   #12
pineal-pilot-in merkabah
Avalon Senior Member
 
Join Date: Sep 2008
Location: england
Posts: 1,153
Default Re: Monday Morning Madness in Oz.........

they pull plug when dow hits 4000 or belowm i reckon... we hav a few weeks left?? whilst nato pokes sticks into syria and pakistan.... its all go
pineal-pilot-in merkabah is offline   Reply With Quote
Old 10-27-2008, 01:39 AM   #13
blastawaycas
Avalon Senior Member
 
blastawaycas's Avatar
 
Join Date: Oct 2008
Location: Middlesbrough United Kingdom
Posts: 229
Default Re: Monday Morning Madness in Oz.........

lets not forget shoving iran into a corner before it lashes out at on of those ships in the gulf.....it is so nicely falling into place....the PTB all the worlds leaders should forced to make the first cavalry charge, i wasquite shocked to read that the austrailian dollar has lost 80% it value over the japanese yen jeez thats quite frightening, i also read that Oz is down to one weeks supply of diesel fuel plenty of everything else but as your transportation infrastructure is run on diesel engined vehicals...hell food shortage and general mayhem
blastawaycas is offline   Reply With Quote
Old 10-27-2008, 02:03 AM   #14
vesta
Avalon Senior Member
 
Join Date: Sep 2008
Location: Rural NSW, Australia
Posts: 141
Default Re: Monday Morning Madness in Oz.........

here's a report albeit short on gold being the saving grace in the face of the falling mkts.....

http://money.ninemsn.com.au/article.aspx?id=655581

Since we of the wide brown plains rely heavily on long-haul transportation for the vast majority of food, the custard will hit the proverbial fairly quickly here for those with no access to any resources. You should see what the supermarkets are like the day b4 a public holiday, ppl are usually queued for 100's of metres with overflowing trolleys for just the fact that it's one day they won't be able to get a loaf of bread or a litre of milk.

I personally will be spending this f/n's pay pkt on dried goods and non-perishables to stock up the pantry a little further. ( Though of late the shelves have been more & more sparse, particularly the rice and legume sections, someone else must be having the same thought drats).

We are in for some interesting times in the very near future dear friends,

blessings,

V.
vesta is offline   Reply With Quote
Old 10-27-2008, 02:15 AM   #15
blastawaycas
Avalon Senior Member
 
blastawaycas's Avatar
 
Join Date: Oct 2008
Location: Middlesbrough United Kingdom
Posts: 229
Default Re: Monday Morning Madness in Oz.........

well vesta i not really in a position to give you any advice just to offer the best of british when the poop does hit the fan you have my sympathies, ok for us brits we love queueing!!, thanks for the updates your top of the pops for that
blastawaycas is offline   Reply With Quote
Old 10-27-2008, 02:24 AM   #16
vesta
Avalon Senior Member
 
Join Date: Sep 2008
Location: Rural NSW, Australia
Posts: 141
Default Re: Monday Morning Madness in Oz.........

Cheers BAC,

and here's another for you:

http://money.ninemsn.com.au/article.aspx?id=655597

I think it's going to be valuable to look at these updates from earlier time zones and see the impact, ( or not), as the mkts open around the globe. I'll be interested to see how things begin to play out in several mkts over the next 48hrs....gives this globe an opportunity to turn once for all of us and then see how things are panning out!

Just glad really that I'm in a rural area and won't have to run the gamut as some will in the cities - one can only imagine how nasty it may get... sending lots of love and light that this won't be the outcome though!

V.
vesta is offline   Reply With Quote
Old 10-27-2008, 02:26 AM   #17
Genevieve
Avalon Senior Member
 
Join Date: Sep 2008
Location: southern part of western australia
Posts: 86
Default Re: Monday Morning Madness in Oz.........

Yep Vesta - i just popped into Bunnings this morning to buy a heap of seed potatoes!!! Gonna get them planted this afternoon - to complement the rest of the vegie patch. Figuring i might need more space to grow even more food in the near future i converted another front garden bed into a vegie patch last week!!

It certainly wont go to waste. I've long been an advocate of "localising" food anyway. It seems ridiculous to me to buy produce from the other side of this country or the other side of the world for that matter because it is a few cents cheaper!!

These certainly are interesting times.
Genevieve is offline   Reply With Quote
Old 10-27-2008, 02:48 AM   #18
vesta
Avalon Senior Member
 
Join Date: Sep 2008
Location: Rural NSW, Australia
Posts: 141
Default Re: Monday Morning Madness in Oz.........

Hi Gen,

good on you lovely for getting into the gdn this arvo, I'm afraid I'm loathe to go outside too much at the moment as my allergies have flared up really badly, (why I'm not at work as the drugs I took really knocked me out and I slept away most of this morning), and I am trying to avoid aggravating the situation too much! Obviously I have to do a few things, like go out to the water tank since it's not plumbed into the house but anything else is rethought for today at least....

Agreed, have always thought it a huge shame that we as a nation have not been able to undertake at a local level more of our own viable food production, harkens back to the slow food movement and the commonsense of eating to the seasons rather than demanding product that is lesser quality all yr round!

Our fore-founders had it right - if you wanted to eat out of season then preserve, pickle, smoke, dry or do without!!!

On my shopping list I will be keeping an eye out for an ezi-yo yoghurt maker, we will hopefully still be able to get milk locally and my family loves yoghurt...have started re-organising my veges and the fruit trees in my small orchard are coming along nicely at the moment. Neighbours have chooks so barter should work there.

Blessings to you and yours,

V.
vesta is offline   Reply With Quote
Old 10-27-2008, 02:56 AM   #19
vesta
Avalon Senior Member
 
Join Date: Sep 2008
Location: Rural NSW, Australia
Posts: 141
Default Re: Monday Morning Madness in Oz.........

Some more to chew the fat on:

Gold rises on more Govt Intervention
http://money.ninemsn.com.au/article.aspx?id=655607

FOREX Forecasts don't favour AUD
http://money.ninemsn.com.au/article.aspx?id=655608

Global Mkt:ASIA Shares fall on recession , YEN firm
http://money.ninemsn.com.au/article.aspx?id=655610

Nikkei up on techs after 26-year low, banks weigh
http://money.ninemsn.com.au/article.aspx?id=655686

V.
vesta is offline   Reply With Quote
Old 10-27-2008, 03:16 AM   #20
vesta
Avalon Senior Member
 
Join Date: Sep 2008
Location: Rural NSW, Australia
Posts: 141
Default Re: Monday Morning Madness in Oz......... IMF outlines new rescue plans

http://money.ninemsn.com.au/article.aspx?id=655694

Middle East mkts also discussed in this report.

V.
vesta is offline   Reply With Quote
Old 10-27-2008, 03:29 AM   #21
Rocky_Shorz
Avalon Senior Member
 
Join Date: Sep 2008
Location: USA
Posts: 1,098
Default Re: Monday Morning Madness in Oz.........

1100 points of swing today in Hong Kong within the first hour, down 5%...

Doesn't look like a good start for the week...

Looks like a good day to play Shorts... oh wait, they shut em down last week...

I liked how Japan opens the market for 2 hours, slams the door on a positive note and everyone heads out to drink Sake...

When they get back, everyone is ready to buy...

Maybe we should make Wall Street like Vegas, everyone sits in a Chair and gets served strong free drinks to keep the money flowing in...
Rocky_Shorz is offline   Reply With Quote
Old 10-27-2008, 03:35 AM   #22
vesta
Avalon Senior Member
 
Join Date: Sep 2008
Location: Rural NSW, Australia
Posts: 141
Default Re: Monday Morning Madness in Oz.........

For the latest in today's good news:

World depression unlikely - OECD
http://www.news.com.au/business/stor...81-462,00.html

Enjoy the read!

V.
vesta is offline   Reply With Quote
Old 10-27-2008, 03:42 AM   #23
Rocky_Shorz
Avalon Senior Member
 
Join Date: Sep 2008
Location: USA
Posts: 1,098
Default Re: Monday Morning Madness in Oz.........

Japan just opened after 1 1/2 hour break and it dropped into the negative within minutes...

They should have given them a little more time for sake...
Rocky_Shorz is offline   Reply With Quote
Old 10-27-2008, 03:52 AM   #24
Rocky_Shorz
Avalon Senior Member
 
Join Date: Sep 2008
Location: USA
Posts: 1,098
Default Re: Monday Morning Madness in Oz.........

This just came up from TOKYO (Reuters)...

Quote:
He said the Group of Seven rich nations would soon issue a joint statement. The finance minister, Shoichi Nakagawa, said the statement would be issued on Monday and say that the group will cooperate appropriately on foreign exchange markets.
Rocky_Shorz is offline   Reply With Quote
Old 10-27-2008, 03:56 AM   #25
vesta
Avalon Senior Member
 
Join Date: Sep 2008
Location: Rural NSW, Australia
Posts: 141
Default Re: Monday Morning Madness in Oz.........

LOL!!!

Obviously the sake isn't strong enough......... or they weren't drinking for long enough - what an idea, no wonder a friend of mine in this game has spent most of the last mth alternating from the foetal position under his desk to drinking his way thru 18 holes each day!

V.
vesta is offline   Reply With Quote
Reply

Thread Tools
Display Modes

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is Off

Forum Jump


All times are GMT. The time now is 06:46 PM.


Powered by vBulletin® Version 3.8.4
Copyright ©2000 - 2021, Jelsoft Enterprises Ltd.
Project Avalon