Im not sure where hes going, but this week, Reserve Bank Deputy
Governor Guy Debelle promised you hed go fast, go hard and not
Thats not the sort of comment you want to hear from your local
But what does it even mean?
Debelle wants to print money, rescue the Australian government
from going broke, and cut interest rates to zero.
Only if its needed, of course.
Which begs the obvious question.
What sort of financial crisis could Australia be facing that
requires its central bankers to go fast, go hard and not die
I think I have the answer for you.
Ive just issued an alert to my UK readers about Australias
coming economic crisis.
Itll be similar to Ireland and Cyprus crash in 2008.
But first, the good news.
Unlike many countries that had a crisis in 2008, Australia still
has its own currency.
That means the exchange rate can absorb a huge amount of any
This was denied to the likes of Portugal, Ireland, Italy, Greece
and Spain. They were stuck in the euro. And the euro didnt go down
much to help those countries recover.
Not only that, Europes central bank has a huge amount of rules
about what it is allowed to do.
It cant favour some countries because this would come at the
expense of others.
The Reserve Bank of Australia has no such restrictions.
It could go fast, go hard and not die wondering all day
long. A bit like Zimbabwes central bank.
Put these two considerations together and you realise the
The Aussie dollar is in for a crash if Australia gets into
So, all you need to do is get your money out of Aussie
foreign currencies and foreign stocks are a great example.
Its surprisingly easy to protect yourself from a local
But protect yourself from what exactly?
Australia is heaven.
Theres no doubt about it. My family visited a dozen countries
looking for a home before deciding Australia is the place to
According to Credit Suisse Global Wealth Report for 2018,
Australians are the wealthiest people in the world.
And not by a small margin.
The median Australian is more than five times as wealthy as the
median German. And more than twice as wealthy as the median Briton.
(Those are my former hom...