The Australian Dollar (AUD) is now weaker than the American Dollar (USD), which means if you trade 1 AUD you get back .70 USD. Here's my idea/question: If you trade some USD to AUD while the AUD is weaker, and then wait for the exchange rate to come closer together, you essentially end up with more money at the end? This assumes that the weaker currency doesn't wildly inflate, but is this the right idea? Are there tax penalties in either the US or AUS for this kind of practice?....Is this money laundering? I'm not sure I understand money laundering, that might be a question for a different post though.
EDIT: Yes! I do understand currency trading, and for bonus points I understand money laundering too! Thanks all!
Submitted December 24, 2018 at 02:19AM by CraftyGrowth http://bit.ly/2EPzhTI
