If investors acted like idiots when they originally bought all those
high risk, sub-prime, US mortgage securities what makes you think they
would act any more intelligently today? :-)
Chuck Norcutt
Andrew Fildes wrote:
> Same thing happened in Australia - AUD dropped from almost parity at
> 96 US¢ to 60¢, despite the fact that we have similar financial
> controls, a healthy economy, relatively, and banks that don't go
> bust. Bloody annoying. With Aus. and RSA it's partly due to the drop
> in demand for commodities like minerals as well.
> This used to be called the Earthquake Tokyo scenario - the idea that
> if the Japanese suffered a serious disaster, they'd pull their money
> back home and markets around the world would collapse.
> My B&H account won't be seeing much activity for a while.
> Andrew Fildes
> afildes@xxxxxxxxxxxxx
>
>
>
> On 04/11/2008, at 1:38 AM, Dawid Loubser wrote:
>
>> Yet, our currency has tumbled against the US dollar because all the
>> investors are pulling money out
>> of emerging markets, and pooling it back in the U.S. Very unfair,
>> since our economic sector is so much
>> healthier than the US or EU's!
>
>
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