Am I reading this right is DOMACOMS CEO promoting USD demoninated loans for SMSF's in what he is quoted as saying in article in todays "* Report.https://unauthorised investment advice/tech/its-been-great-for-us-asx-fintechs-are-benefiting-from-the-banking-crisis/
As Follows:
"Property investment platform Domacom (ASXCL) chief Arthur Naoumidis says “it’s been great for us, it’s absolutely fantastic”.He wants to muscle in on property lending as the banks tighten conditions for retail borrowers and stop lending to self-managed super funds (SMSFs) entirely.
Domacom allows individuals and SMSFs to invest in property as a syndicate.They’re planning to access cheap offshore funding so those syndicates and SMSFs can use the debt to buy property, rather than raising the whole sum.“At the moment it’s money for jam. They can borrow money at 3 per cent in the US and loan it out at 6 per cent in Australia.”
Someone better remind DOMACOMS CEO, re the Australian Dollar/ Swiss Franc Crisis of the the 1980's that brought down a lot of Australian Farmers when the Australian Dollar Collapsed. A 2 cent fall in the Aussie Dollar would have an impact of nearly 3% on the principal borrowed and the USD interest owed.
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Am I reading this right is DOMACOMS CEO promoting USD...
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