The global financial meltdown has had an unexpected effect on the bankroll. The Aussie dollar has tumbled from nearly 1 US dollar down to under 70 cents in the space of about three months. This has increased the buying power of those dollars by nearly 50%, or AUD$1000. And I didn't even have to lift a finger. Of course the smart thing to do is probably to shift those USDs to AUDs, because I cannot imagine the Australian dollar dropping much further - it is surely massively undervalued right now. Of course, I wouldn't do that because that would put an end to the poker ride - at least for now.
I note that the dire Duplicate poker has folded, claiming to be a victim of the financial crisis. I almost considered depositing there for the ludicrously good kickback bonus. Luckily I didn't, but it got me to thinking - who is next? When major banks are dropping like flies, one has to wonder whether a few poker rooms have invested in the wrong places and will also become casualties of the meltdown. It's probably not a good time to have your whole bankroll in one place.
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Interesting times to say the least ... I've been thinking that poker sites are probably one of the safer havens.
I'm not sure how their debt levels are but you'd think that they are raking in so much that they are as close as you'll get today as a safe haven.
(Disclaimer: Not to be taken as financial advice. Past performance is not a reliable indicater of future performance, especially one hand to the next)
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