Sunday, February 14, 2016
Happy 50th Birthday to the Aussie Dollar
Born on Valentines Day 1966
The video below documents it's birth
Its vital stats at birth were:
AUD:USD exchange rate fixed at: 0.8929 ($1 bought just under 90c US cents)
Gold price in AUD: $39.65/oz
$1 in 1966 bought 0.78g of gold
But just we all started out being full full of vitality, 50 years has taken its toll on the Aussie.
Its current health stats are:
AUD:USD exchange rate: 0.7108 ($1 buys 71c US cents)
Gold price in AUD: $1742.40/oz
$1 today buys 0.018g of gold
Percentage rise in Aussie gold price since 1966: 4,294%
Purchasing power of the Aussie dollar expressed in gold has declined 97.7%
I wonder how long that last 2.3% of purchasing power is going to last?