AUD

When Aussies get a tax refund, they are so glad. Nuts! That means the ATO took too much of your money from the previous year and just hand it back to you, without interest. I kept asking my nurses to give me $1000 and then at the end of the year, I will refund the $1000 with a little interest but they won't. Of course, the interest will be below market rate to account for my "effort" but it is still better than what the ATO refunded.

The same applies to the AUD. The lower it is, the BETTER! Yet most Aussie nuts want a high value AUD, especially because they will be traveling or will be buying overseas goods. The nation as a whole is much better off if it can SELL goods. Just look at China, with its yuan pegged at a lower value and its resultant wealth accumulation.

Ah.... we live in a Clever Country!

The rise to over USD$1.03 is not good news...