Australian Dollar closed at a New All time High against the US-Dollar

Dear PGM Capital, Blog readers,
Today Wednesday July 27th 2011, the Australian Dollar closed at an all time high of,
USD 1,1026 for AUD 1.00.

In the last 5 years the Australian Dollar has appreciated with more than 25% against the USD as can be seen from below chart, this makes the Australian Dollar together with the Canadian Dollar, the Brazilian Real and Swiss Franc one of the strongest currencies of the world in this new millenium.

Commodity Rich Australia with an HDI ranking in the top 4 during the last 5 years has the best of both world to excel in the current knowledge age in which 5 new billion new capitalists are emerging from physiological needs to safety needs and above in accordance with Maslow Hierarchy’s of Needs.

Due to this we believe that the Australian Dollar will stay strong in the years to come and have all the potential to appreciate more against the USD and the EURO.

Our advice to our clients is to hold beside a long term portfolio, savings accounts in the AUD, CAD and CHF

We hope to have informed you satisfactorily and are looking forward to be at your service

Your sincerely

Eric Panneflek
Chairman

One thought on “Australian Dollar closed at a New All time High against the US-Dollar

  • If we add up the news items concerning currency appreciation versus the US dollar (Swiss Franc, Auss $, Braz real, Can $, Yuan) the message is quite clear: the time for the US dollar as the world currency is disappearing, and will be replaced by several currencies. This will have an enormous impact on the way the world will do business in the near future. It also means that as a means of investment the US$has lost its attraction, which, consequently, will see a flight of investment away from the US. As money always seeks another place to go, the emerging economies will see a wave of investment coming their way. To be a witness, at my age, of a world empire’s demise is a sad and instructive experience. I can only hope that the world will take notice and will learn from this. But then again, if there is one thing man has proved to be, that is a damn slow learner when it coalesces with greed. And that’s why I believe in gold and other precious metals,because they are the measuring instruments of man’s greed & foolhardiness.

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