Rand weakens

[newBix]

Global recession is once again hitting headlines but according to our minister of finances everything is hunky-dory. When I listened to the "speech" I nearly cried and yet people where clapping hands and cheering?

I think March to April is going to be hell on our local economy as we cannot attract new money and once again there was no mention of any type of refinery of any kind.

Can our minister of finances not see that our export market needs work? Unrefined materials has no benefit to us as a Nation! Also we are MORE import dependent thus more money is going out then coming IN.


FUTURE OF OUR ECONOMY


We need fabrication facilities refineries and low cost product export. Or we are screwed!



rant defined as a loud bombastic declamation expressed with strong emotion and is for entertainment purposes only and does not reflect towards any political gain or loss or any association there off.

[Justloadit]

We need fabrication facilities refineries and low cost product export. Or we are screwed!

Yea, tell that to our unions and werkers, after all, according to them, the wekers are all being paid a pittance when you compare it to the CEOs. The sh!t is on the horizon, and coming at us at the speed of a sandstorm. So why do we need creative captains, they are all to expensive according to the unions, they can do abetter job with out them.

[newBix]

If you consider how much money is spend on bullshit I am surprised that we are still floating. The unions are making a handful every month why don't they start something like a refinery or factory or both. Why is job creation limited to the public, the wealthy and government?

Perhaps it is time for unions to do more than just talk?

[Phil Cooper]

It is SCARY what the Rand drop and gold price rise has done to Jewellery prices.

A client of mine asked for a new valuation on jewellery I insure for him. Professional did it - the items have risen between 250% and 400% in value in 3.5 years.....

Serious effect if jewellery is lost/stolen, and you need to replace it!

[newBix]

I don’t get it why do we need to buy petrol from other countries when we are perfectly capable to make it ourselves? Does anyone still remember what it is that SASOL do?

[PCAdeJ]

Hi,
sorry to highjack I have a question and this seemed like a relevant thread so;

I was wondering if anyone with an informed opinion has any insight to the Aus Dollar rand exchange in the short term? I need to bring in some $$$ but the Rand seems to have pulled back somewhat since the R10.05 mark it was at a few weeks ago... At R9.60 is it a good time or do I hold and hope for the best(haha or worst depending on your perspective)

Thanks,
PCAdeJ

[Dave A]

At R9.60 is it a good time or do I hold and hope for the best(haha or worst depending on your perspective)

What is your time window (just how long are you prepared to wait) ?

[PCAdeJ]

What is your time window (just how long are you prepared to wait) ?

Hi Dave,

Im looking at pulling back one million ASAP(although I'm willing to give it 3 months) and then another million in a year( as soon as the Oz money-market acc. will allow)

Ive made 10k by sitting on my hands since last week but I don't want to try time the market because from my limited economic understanding this level of exchange is above the natural equilibrium and "should" come down eventually, right?

Also Ive been looking into http://www.xe.com/ has anyone dealt with these guys for money transfers?


regards,

[Dave A]

The general pattern for the Rand is it weakens fairly rapidly, and tends to strengthen slowly.

The Australian Dollar, as you no doubt know, has been steadily strengthening against virtually all currencies at a pretty steady trot for quite a while now.

It probably comes down to whether you think the Rand may blow out again within your window, otherwise fluctuations are likely to be relatively trivial.

[xcorporation]

There is always more than 1 side to a coin.

If you need a union to make a public statement and the investors for that industry is your competition abroad in another country where you have investments.
It'll work out for you, because they will invest somewhere else, or other actions that might benefit you or your team's assets.

Now what happens when you loose international investors? they get replaced with local investors ... so it becomes a win win situation - depending which side of the road you sitting ...