I might have to eat my words on complaining about the decision to take out the US$130M loan rather than a pay up front with the cash we have.
I didn't take notice that the loan was in US DOLLARS !!
As most of you know, with the US debt at $17 TRILLION, the US$ is weakening by the day with no end in sight - yesterday the US treasurer said they would increase buying of securities from $40B to $85B per month which translates into the government just printing more unbacked dollars, bigger debt and more inflation.
Just watch the AUD/USD exchange rate ($1.04 yesterday, $1.05 today) and see how the loan is already decreasing in AUD terms.
I might have to eat my words on complaining about the decision...
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