Tuesday, Dec 01, 2009

The Silver Bullett

BBC: Australia raises rates for third straight month

Australia's central bank has raised interest rates for a third month in a row. In a widely expected move, the cost of borrowing increased to 3.75% from 3.5%. Analysts said further rate rises were on the cards. "The level of interest rates is still historically very low," said Craig James at the Commonwealth Bank of Australia. He predicted rates would hit 4.25% by February or March next year.

Posted by jack c @ 01:08 PM (1480 views)
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9 Comments

1. hpwatcher said...

The UK has a far greater need to raise interest rates....but don't expect it to happen....UK government are going for broke, all or nothing, 5h1t or bust!

Tuesday, December 1, 2009 02:23PM Report Comment
 

2. crunchy said...

"5h1t or bust!" I used the same succinct blunt term months ago and still I have not had any one reason to think otherwise.

Tuesday, December 1, 2009 02:32PM Report Comment
 

3. str 2007 said...

I haven't researched any further than googling Australian Savings Accounts - which brought this up :-

http://www.money-au.com.au/banking/savings-accounts-compared.php

Don't know the implications of opening an Australian account from here.

How safe would your savings be ?

I assume your money would need to be in Aussie dollars and how is that likely to fair against Sterling ?

Tuesday, December 1, 2009 02:52PM Report Comment
 

4. crunchy said...

3. str 2007 said...I assume your money would need to be in Aussie dollars and how is that likely to fair against Sterling ?

IMHO the US dollar is going to hell in a handbasket and thus sterling with it. I am sure some may disagree.

Personally I would just load up on more silver, long term, but I'm never right! lol : )

Tuesday, December 1, 2009 03:16PM Report Comment
 

5. stillthinking said...

Take a look at Steve Keen here,

http://www.debtdeflation.com/blogs/2009/12/01/debtwatch-no-41-december-2009-4-years-of-calling-the-gfc/

This is about the crash generally and debt deflation, but looks at Australia in comparison to the US.

Tuesday, December 1, 2009 04:24PM Report Comment
 

6. mark said...

this is a very clever move they are attracting cash from around the world into their ozzy banks, i know several people who have moved large sums to Ozland..

Tuesday, December 1, 2009 07:14PM Report Comment
 

7. Skeptical_first_time_buyer said...

@4 Foget silver, Petrobras for the long term. Brazil has lots of oil, and needs it less than everyone else.

Gold and silver are already high, and I don't doubt they'll go higher, but only medium term.

Tuesday, December 1, 2009 08:42PM Report Comment
 

8. crunchy said...

7. Silver is still a bargain and that's why I mentioned it. How high is high? I will tell you, it's when the music stops and not before.

Tuesday, December 1, 2009 10:04PM Report Comment
 

9. crunchy said...

7. Try shorting gold and silver if you would like my point to be made more painful.

Tuesday, December 1, 2009 10:15PM Report Comment
 

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