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Forex - AUD/USD slightly lower after Swan comments

Published 06/24/2013, 09:32 PM
Updated 06/24/2013, 09:33 PM

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Swan must be a dill if he believes that the Fed is really going to wind back their money printing program. I mean does he not understand that the only game in town is to devalue the huge debt the US owes its Chinese creditors?. To put Swan into context I need to state that I emailed him 2 years ago and warned him about the huge risk of betting Australia's future on the mining boom and specifically with the high price which China was paying (around $190 a ton). Shortly thereafter Swan fronted the national media with comments about "crazies" who were talking down the economy. The price for iron ore is now trading around $115 and the Chinese economy looks to be in trouble with a bubble waiting to burst.. I do not appreciate Swan's comments on the back of his past performance and the "recovery" is yet to be realised.
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