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The Australian dollar hit new record highs of 90 US cents this week, after the domestic jobless rate fell to a fresh 33 year low.

The fall to 4.2 per cent in September - the lowest level since November 1974 - from 4.3 per cent in August, stoked speculation of another interest rate rise next month, pushing the unit higher. 

When the Australian dollar is doing well against the US dollar, this obviously means that the greenback is feeling, well, rather green. Texas Republican congressman and Presidential candidate Dr. Ron Paul is running on a policy that more people in America and here in Australia should be listening to and talking about. 

For once an aspiring leader of the free-world is actually leading by example and not by force and sees the U.S’s foreign policy as being one of the major sources of their economic woes. He has been voicing loudly that the Greenback’s value has been gutted because the U.S doesn’t have an export market anymore, instead it exports dollars to the world, which devalues the currency, and the world accepts it hand over fist. 

During the October 9^th Republican GOP Debate on MSNBC, Dr. Paul exemplified why he is gathering a groundswell of grassroots support all across America, raising more money on-line than any other Republican candidate, topping $5 million, as well as more donations from members of the armed forces than any of his fellow candidates, not surprising when he is the only anti-war Republican candidate. When asked about his feelings and questions on the bonanza that is the hedge funds market Paul said,”I think this is not a consequence of free markets. What is happening is a transfer of wealth from the poor and the middle class to the wealthy. This comes about because of the monetary system that we have when you inflate a currency or destroy a currency, the middle class gets wiped out so the people who get to use the money first, which is created by the Federal Reserve System, benefit. So the money gravitates towards the banks and to Wall Street. You see that’s why we have more billionaires today than ever before. Today this country is in a recession for a lot of people. Michigan knows about it, poor people know about it, the middle class know about it, Wall Street doesn’t know about it, Washington D.C doesn’t know about it, but it is because of the monetary system and the excess of spending. As long as we live beyond our means we are destined to live beneath our means, and we have lived beyond our means because we are financing a foreign policy that is so extravagant and beyond what we can control, as well as the spending here at home, and we are depending on the creation of money out of thin air, and it is nothing more than the debasement of currency. It’s counterfeit, and it is a natural, predictable consequence that you’re going to have people benefit from it and you’re going to have people suffer when you print money. So if you want a healthy economy you have to study monetary theory and work out why it is we are suffering, and everybody doesn’t suffer equally or this wouldn’t be so bad. It is always the poor people, people on retired incomes, that suffer the most, but the politicians and those who get to use the money first, like the military industrial complex, make a lot of money and they benefit from it”.  

So what happens here in Australia when someone gets hold of the economic reigns in the White House again? The horse may have bolted but Dr Paul seems to know how to get it back in the yard and locking the gate, by returning to a gold and silver standard. Something that Kennedy had put officially back on the books upon his discovery of the corrupt world federal reserve banking system and his refusal to no longer stand by idle, and something that no President since has been game to enact or overturn.

Small and medium enterprises across Australia can now access support and advice on improving business performance, through the newly created Australian Industry Productivity Centres.  These centres can help you source finance and receive specialist advice and technologies. They also offer services including:

• business reviews
• tailored advisory services
• technology and knowledge solutions
• international experts

To find out more visit>>

Investors in financial institution Rams face low discounted shares as Rams stock dropped 81% since listing in July.

Westpac have made an offer of $140 million for Rams name and home loan business.

The Company still has $15billion in partly unfunded mortgages, which are left in hands of shareholders, and also needs to refinance $4billion in loans.

Upon speculation that Westpac’s offer would be the best shareholders could hope for Stuart Wilson of the Australian shareholders association said that ,“One would hope that over the next few weeks other banks would take an interest in those assets to and force the price up”

The Australian Shareholders Association is claiming that Rams shareholders prospection did not properly specify that Rams were relying on the US credit market for funds. It started becoming known in August that Rams were a of victim the global credit crunch, a result of the US mortgage crisis. Shareholders are seeking legal advice.

Businesses in Victoria can now apply for a grant to help them create commercially viable technologies that will improve their environmental impact. The Enhancing Sustainability in New Investment program is aimed at companies across a range of industries from both regional and metropolitan Victoria.

The program will support technologies and processes that have benefits for the environment including:

• improving energy efficiency
• reducing greenhouse gas emissions
• saving water
• reducing waste.

For further information or to apply for the Enhancing Sustainability in New Investment program, visit http://www.businessnewsaustralia.com.au/government-news/

THE Australian dollar yesterday soared to its highest level in 18 years, amid forecasts the mining boom is about to receive a new head of steam.

The dollar rose almost a cent to push above US89c and is expected to break through US90c over the coming weeks.

Breaking through the US89c mark at 10.30am (AEST), the dollar traded between a low of US88.76c and a high of US89.26c - its highest level since February 10, 1989, when it reached US89.50c. The rise in the dollar will put pressure on the Australian export industry but will leave consumers better off as the cost of imported goods and services comes down.

The rise in Australia’s currency is mainly the result of a dive in the US dollar against all world currencies as investors get nervous about the possibility that sub-prime mortgage defaults will cause a recession.

The Australian dollar has not risen appreciably against the euro since early 2005, although it has moved sharply against the yen, rising from 87.8 yen to the dollar to 101.6 yen in the past two weeks.

With most of Australia’s trade priced in US dollars, the benefits will flow directly to consumers. Clothing and footwear, electronics and hardware stores will immediately gain from imports cheaper, on average, by 20 per cent than they were a year ago.

On average, about 12 per cent of the goods consumers buy are imported, while about the same amount is subject to import competition.

The rise in the value of the Australian dollar will offset the rise in world oil prices, which has been at record prices of about $US83 a barrel in recent weeks.

The rise in the currency will, however, threaten the profitability of manufacturing, with an Australian Industry Group study finding that most manufacturing exports are unprofitable at exchange rates above US85c.

Consumers will gain in other areas as well. University tertiary entrance scores, for example, are likely to be lower as a result of the lack of competition from overseas students. Holidays in Queensland will be easier to book because of a drop in bookings from Japan.

The continued strength of the dollar will attract foreign investment in Australian shares although ANZ chief economist Saul Eslake warned there would come a point at which investors decided the market was fully valued. The appreciation of the dollar represents a challenge for superannuation fund managers, who stand to lose on their international investments as the dollar continues its rise against other currencies.

The US dollar is falling against world currencies because of the weakness of its economy and the recent cut in its interest rates. It is trading at its lowest level against the euro since the latter was introduced in 1999 and is close to an all-time low relative to the currencies that were merged into the euro. The Australian dollar is also gaining because of forecasts that commodity prices will continue to rise.

Attention is focused on the iron ore and coal negotiations with Chinese and Japanese importers. Citigroup chief commodities analyst Alan Heap said the iron ore contract price would have to double to catch up with the spot market, where the price of a tonne of iron ore recently soared to $US115 a tonne. The current Australian contract price is $US55 a tonne.

Mr Heap said there was no sign of Chinese buyers building stockpiles to safeguard their supplies against higher prices.

Spot prices for coal are also rising, with steaming coal prices at $US100 a tonne, up from about $US70 a tonne a year ago.

Copyright 2007 News Limited

Our finance broking business has operated for over a decade and during that time we have seen the industry change and develop from an inconspicuous one with no threat to the major lenders (the banks) to where finance brokers are now providing nearly 40% of new loans.

 While there a many large firms of brokers we have deliberately remained small (only three of us) so we can provide that personal service that the banks once provided. Unfortunately there are still some “cowboys” out there looking to make a quick buck and then disappear.

We have access to loans for just about every situation although the majority of our lending is in residential property loan for owner occupiers and investors with first home buyers a specialty. Our intention is to provide some news and lending information which may be of interest to home and commercial property buyers.

Should anyone wish to contact us this may be done through our website www.apvsydneyfinance.com.au

There has been a lot of news coverage on the sub – prime mortgage market crisis in the USA over the last week or so and recently how it is starting to affect things here is AUS.

Is this just media hype?  How will it affect things here in AUS, especially for those running their businesses with a Low Doc Loan?

The flow on affect here is AUS it seems could affect the interest rates on some low doc loans, not by the reserve bank but from the lenders themselves.

Seeing the non conforming lenders are also looking to tighten their belts over loan applications how might this affect someone wanting to finance a new business venture?

We welcome your comments on this topic so please feel free to post a word or two

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