Is there a currency crisis with the GBP, Euro and AUD?

I would not say it's a crisis; the currencies are volatile because of the markets. The forex speculation is also a major factor.

Investors worldwide are divesting/selling foreign investments.
The $US was down, stocks and commodities are down, now
other currencies are falling.

Just a consequence of taking defensive positions with minimum
risk.

As for the UK, consumers and companies are minimising costs
and spending significantly. Unemployment is rising and companies
are contracting production etc. A whole wave of bankrupcies
looks to be imminent. Property values are still falling.

When other countries are also cutting back on foreign spending
and investments, then this time round there may not be much of
the usual upside to falling currency values.

Way toooo many changes to make economic projections with
any degree of certainty until after the US elections and the
global economic engines start to function reasonably.

Nobody has any real clue as to when things will actually bottom out
or an upturn may happen after that. The predictions that I have
heard seem to range wildly from 3 to 36 months. My guess lies
in the high end of those at best .... as far as ordinary people
are concerned.

Who knows??????

Here in Aus, our official inflation rate was posted last week at a massive 5%. Although it was predicted since the global collapse, it does little to contain peoples fears of an impending crisis.

House prices are falling, already by 10% in the last 30 days in certain areas, and senior economists can be heard to profess that the prices will fall by as much as 40% over the upcoming 12 - 18 months. Job losses have already started to eventuate, with some major employers heading into dark times. Again some economists have recently predicted that our unemployment rate will hit 15% over the next year and a half.

Our reserve bank has issued massive cuts in official lending rates to try and stimulate consumer spending, and some retailers are already quoting as much as 70% reduction in consumer spending compared with the same time last year.

I am a realist and aside from the expected volatility of all markets, I believe that we are in for a long and bumpy ride with this one, and I also believe that anyone glossing over the reality of where we are today, has a hidden agenda. The world economy is in serious trouble, and it all started with the greed of a select few. It is high time we, as a global community, took action against these people, and took greater control of our own money.

For starters, take a leaf out of my mothers book, "NEVER borrow money, and NEVER live beyond your means" This way you should NEVER experience financial issues of the kind most are facing now.

I agree with you on the worse part of it being played out. I've noticed that EUR/USA this week has not been as wild as it was in Oct. 2008. Hope it is all settling down, time will only tell...
Dave

Hey Derek

Believe it or not. But these swings are caused by a select few of international bankers who have cornered the market.

Basically a monopoly and we are all dancing to their music.

It's getting worse as they have stated in their documents. They are looking to create a world currency, and government.

Don't believe me, look for yourself and get empowered.

Best regards,
-Rob