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The 10g conversion limit has had a massive impact on the currency market and those that thought this would cause a gold shortage due to the inablitity to convert have found out the reverse effect and this has caused a significant currency shortage.

The main issue is that the major currency sellers like the Reserve Bank have been unable to sell - due to the 10g handcuff and the currency has risen. Also the major money market traders who have traditionally maintained market postions around the world are now limited to only being able to unwind 10g a day of those postions. So basically we are getting a build up of currency in certain individuals hands that can not be off loaded. At the same time with so much currency in their hands traders are reluctant to bid for gold hence the large spreads on offer.

This problem happening right round the world has also seen the withdrawl of importer market offers - due to the fact that suddenly everyone has to focus on selling on their home market to acquire currency to pay for wages and RMs.

After taking some time out to consider the problem I believe I have come up with a solution. With manger work and land purchases in local currency there is nothing that changes the fundimental that the value of the Australian Currency should be around 0.008/125 with an aim to be lower given the competitive advantage this offers in acquiring land purchases. In order to maintain this level as MoF I will be offering through the Reserve Bank of Australia the ability for Australian Citizens and orgs of Australian Citizens to acquire currency at this level.

In order to keep our competitive advantage I will be keeping such deals private however - if you are an Australian Citizen and wish to acquire currency please send a PM to Reseve Bank of Australia. The process will be simple and easy to follow.

Savonrepus
MoF