We are talking about a robbery in the realms of tens of billions of unpaid tax while much of gas goes to China to build weapons to threaten Australian freedom, keeps the AUD high hollowing out other tradeables, and trashes carbon output targets with failed CCS.https://www.macrobusiness.com.au/2022/01/morrisons-gas-cartel-to-plunder-australia-indefinitely/
This snippet from that other site got me thinking. To keep the AUD high then the money being used to buy these exports must be staying in Australia. If it was converted into offshore currency immediately for transfer of profits then the net effect on the AUD would be zero and the foreign currency at the end of the chain would be the one being kept high. The way that it would increase the value of the AUD would be with increased demand to purchase AUD internationally but the transfer of the profits offshore would produce and equivalent supply of additional AUD to meet that demand resulting in no change in price or supply/demand ratios. If the profits remain in Australia then there would be a net increase in demand for AUD with the resultant increase in price compared to without that demand.
This begs the question, are the proceeds from mining actually keeping the AUD high and therefore remaining onshore or are they being sent offshore and having little or no effect on the level of the AUD. You can’t both have your cake and eat it claiming it is both being sent offshore and also keeping the AUD high.