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Lol the AUD has lost 99% of its value against gold !

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Kimu

2,837 Posts.

157

04/01/24

17:03

Post #: 71728773
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Originally posted by Dentie: ↑

Currency is liquidity alright - but at what cost?

We have all heard how Canberra wants cash gone...

https://www.abc.net.au/news/2022-10-19/more-bank-branches-atm-close-nationally-apra-2022/101550794

Here's the currency supply (M0)...

The AUD has already lost 99% of its value against gold... Core Consumer Prices are still ripping upwards...
I don't know about Ozzie, but when the big "C" was on a few years ago - there were so many outlets here in NZ that flatly refused to accept cash. Given the above, it wouldn't surprise me if Ozzie didn't just outlaw it full stop.

I agree totally with your sentiment, but the currency I will be holding is a little bit heavier than paper.

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Lol the AUD has lost 99% of its value against gold !
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