UK after brexit...GBP v THAI BAHT

[bomber]

10 minutes ago, nomad2019 said:

gold allways hard to sell back is it not ?

where to buy , dubai airport ?  

yarawat road ?

gold bars in 1oz ?

dont go to the UK to sell it after brexit,unless you want paying in goats/sheep and carrots

[nauseus]

27 minutes ago, nomad2019 said:

gold allways hard to sell back is it not ?

where to buy , dubai airport ?  

yarawat road ?

gold bars in 1oz ?

You asked what, not how,

[Naam]

2 hours ago, onera1961 said:

All my plans are based on 25USD/BHT in 2023. That will translate to 30GBP and 14AUD per BHT.

14 AUD per THB...

[bomber]

1 hour ago, bomber said:

total rubbish,the euro didnt exist until 1999 and the pound was worth €1.42 on the day it started,over 20% less than today,keeping the pound has cost the UK billions and it does not make it better to trade with the rest of the world at all,probably doesnt make much difference but certainly doesnt help,again all you folks come out with is other EU nations are in trouble,project fear x10 i call it,the worlds largest market is the EU its 50% of our trade on our doorstep,greece was a self inflicted financial disaster it paid its debt back and cost the UK nothing,their problem get on with it,out of the EU and if we are in the same position its over  to trump to rescue us and he would screw us much more than the EU ever would.

The United Kingdom National Debt Clock 2019 Counter __ nationaldebtclock.co.uk.html 46.09 kB · 5 downloads

 

[Perhaps2more]

43 minutes ago, bomber said:

total rubbish,the euro didnt exist until 1999 and the pound was worth €1.42 on the day it started,over 20% less than today,keeping the pound has cost the UK billions and it does not make it better to trade with the rest of the world at all,probably doesnt make much difference but certainly doesnt help,again all you folks come out with is other EU nations are in trouble,project fear x10 i call it,the worlds largest market is the EU its 50% of our trade on our doorstep,greece was a self inflicted financial disaster it paid its debt back and cost the UK nothing,there problem get on with it,out of the EU and if we are in the same position its over  to trump to rescue us and he would screw us much more than the EU ever would.

Pay attention please!  I said, "Trying to be in the Euro crashed UK economy in the late 80's. "   I did not say, the Euro started in the 80's.

The ERM, established some 10 years before, tied currencies' values to that of the German mark to bring stability to European markets and encourage trade.

It was a precursor to the creation of the single European currency.

 

The UK entered the ERM in October 1990, but was forced to exit the programme within two years after the pound sterling came under major pressure from currency speculators. The ensuing crash of 16 September 1992 was subsequently dubbed "Black Wednesday".

The property market crashed. Things got worse in 1989, with interest rates reaching 15 per cent in October.

 

***

UK imports from the EU were £341 billion (53% of all UK imports). ... The UK had an overall trade deficit of -£67 billion with the EU in 2017.

A surplus of £28 billion on trade in services was outweighed by a deficit of -£95 billion on trade in goods.

The UK had a trade surplus of £41 billion with non-EU countries. 

We lose money trading with the EU, in the long run we will be poor.

It is profitable trading with the non-EU countries.

 

[bomber]

9 minutes ago, Perhaps2more said:

Pay attention please!  I said, "Trying to be in the Euro crashed UK economy in the late 80's. "   I did not say, the Euro started in the 80's.

The ERM, established some 10 years before, tied currencies' values to that of the German mark to bring stability to European markets and encourage trade.

It was a precursor to the creation of the single European currency.

 

The UK entered the ERM in October 1990, but was forced to exit the programme within two years after the pound sterling came under major pressure from currency speculators. The ensuing crash of 16 September 1992 was subsequently dubbed "Black Wednesday".

The property market crashed. Things got worse in 1989, with interest rates reaching 15 per cent in October.

 

***

UK imports from the EU were £341 billion (53% of all UK imports). ... The UK had an overall trade deficit of -£67 billion with the EU in 2017.

A surplus of £28 billion on trade in services was outweighed by a deficit of -£95 billion on trade in goods.

The UK had a trade surplus of £41 billion with non-EU countries. 

We lose money trading with the EU, in the long run we will be poor.

It is profitable trading with the non-EU countries.

 

it seems the pound couldnt live with the big boys then and took a beating,now that sounds familiar,i would think its loss due to brexit today would easily surpass the costs of the 90s even after allowing for inflation,i agree its good having a £41 billion surplus with non-EU nations but its no use if your going to lose a huge chunk of trade with the EU regardless of whether we have a deficit or a surplus with them,a truck delivering is likely to raise £200-1000 of pounds just in fuel duty and vat alone,another thing i might add if we are doing so well with these non EU countries why was so much hype made about the trade deals then?,all seems fine if what your saying is correct,we are ticking just fine with the non EU nations and maintaining good trade with the EU nations albeit with a deficit which considering we barely manufacture anything these days isnt too bad,one more point the big producers china/germany/US will always feel the first blips in any forthcoming world recession yet brexiteers are on it like a ton of bricks to predict germanys/EU downfall,believe me if they cough then the UK sneeze's 

[Perhaps2more]

34 minutes ago, bomber said:

maintaining good trade with the EU nations albeit with a deficit

Good trade albeit with a deficit  ???

Now that is new logic to anyone in business. 

Whatever turns you on. Why not ?

[bomber]

Just now, Perhaps2more said:

Good trade albeit with a deficit  ???

Now that is new logic to anyone in business. 

Whatever turns you on. Why not ?

if you want you can stop it all and see where we end up,you could try growing our own banana's,oranges,grapes,kiwi's,let me know how you get on and while your at it try mass producing a pair of denim deans for £3.00 or a t-shirt for £1.50 and remaining profitable all from within the UK,you folks really are dreamers 

[Perhaps2more]

1 hour ago, bomber said:

if you want you can stop it all and see where we end up,you could try growing our own banana's,oranges,grapes,kiwi's,let me know how you get on and while your at it try mass producing a pair of denim deans for £3.00 or a t-shirt for £1.50 and remaining profitable all from within the UK,you folks really are dreamers 

Isn't that why we are trying to trade with the rest of the world? We can not do that under the EU rules.

All the products you mentioned are from outside the EU and all of them are within the Commonwealth.

Stay focus.

[bomber]

1 minute ago, Perhaps2more said:

Isn't that why we are trying to trade with the rest of the world? We can not do that under the EU rules.

All the products you mentioned are from outside the EU and all of them are within the Commonwealth.

Stay focus.

i was using randon everyday items for ease,commonwealth nations are not 21 miles from the UK therefore not going to replace eu made products easily,try telling toyota or nissan you would like them to make parts/components for their UK plants in hong kong or kenya or new zealand and they will laff at you and just move the factories to that area,like what brexiteer Mr Dyson did,these companies have said they would prefer us IN NOT OUT,now you stay focused and listen to the butcher and not the block

[Perhaps2more]

46 minutes ago, bomber said:

i was using randon everyday items for ease,commonwealth nations are not 21 miles from the UK therefore not going to replace eu made products easily,try telling toyota or nissan you would like them to make parts/components for their UK plants in hong kong or kenya or new zealand and they will laff at you and just move the factories to that area,like what brexiteer Mr Dyson did,these companies have said they would prefer us IN NOT OUT,now you stay focused and listen to the butcher and not the block

That's right, all the things you can think of (for ease or not) are made within the commonwealth and most things in your supermarkets are flown in or shipped in.

With regard to the factories they will build one where there is demand.

China and the US don't just trade with next door to become the world top 2 economies.

China is global. Chinese products are everywhere, Not your 21 miles for sure.

You can buy Chinese products globally because their government help them with the postage.

Eu also controls price to support their members that is why they can not compete effectively.

 

No surprise Dyson move headquarters to Singapore and factory to Malaysia. That is where the market is for Dyson in Asia not in the EU.

The companies you talked about are trading with the EU for the deficit. They are having jobs but not creating wealth.

It's time for them to rethink and change direction, learn from the top 2 world best economies. They are global not Stick with the EU.

People in Asia prefer UK products. That is not the same within the EU. 

 

[Naam]

51 minutes ago, Perhaps2more said:

You can buy Chinese products globally because their government help them with the postage.

goodness gracious!

[nauseus]

6 hours ago, bomber said:

it seems the pound couldnt live with the big boys then and took a beating,now that sounds familiar,i would think its loss due to brexit today would easily surpass the costs of the 90s even after allowing for inflation,i agree its good having a £41 billion surplus with non-EU nations but its no use if your going to lose a huge chunk of trade with the EU regardless of whether we have a deficit or a surplus with them,a truck delivering is likely to raise £200-1000 of pounds just in fuel duty and vat alone,another thing i might add if we are doing so well with these non EU countries why was so much hype made about the trade deals then?,all seems fine if what your saying is correct,we are ticking just fine with the non EU nations and maintaining good trade with the EU nations albeit with a deficit which considering we barely manufacture anything these days isnt too bad,one more point the big producers china/germany/US will always feel the first blips in any forthcoming world recession yet brexiteers are on it like a ton of bricks to predict germanys/EU downfall,believe me if they cough then the UK sneeze's 

Big boys? Like Soros you mean.

[Brunolem]

10 hours ago, bomber said:

total rubbish,the euro didnt exist until 1999 and the pound was worth €1.42 on the day it started,over 20% less than today,keeping the pound has cost the UK billions and it does not make it better to trade with the rest of the world at all,probably doesnt make much difference but certainly doesnt help,again all you folks come out with is other EU nations are in trouble,project fear x10 i call it,the worlds largest market is the EU its 50% of our trade on our doorstep,greece was a self inflicted financial disaster it paid its debt back and cost the UK nothing,there problem get on with it,out of the EU and if we are in the same position its over  to trump to rescue us and he would screw us much more than the EU ever would.

The United Kingdom National Debt Clock 2019 Counter __ nationaldebtclock.co.uk.html 46.09 kB · 8 downloads

Are you working for MSNBC? 

[SheungWan]

And you've been buying Sterling already? Ooh never mind. Maybe next time?

I have found Transferwise very useful to break up a transaction into smaller parts. About halfway there. Its a bit odd having a Brexiteer anticipating Sterling going down further but never mind. Although the risk of no-deal Brexit pushes Sterling down one needs to offset the possibility of it not happening and that would mean a Sterling bounce. So each individual wanting to make a transaction needs to take a position that they are comfortable with. On a longer term basis don't feel comfortable with Sterling. Haven't done so for some time.

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[SheungWan]

i have 75k eur in euro bank, would you advise me to lift the euro after brexit , as GBP will certainy drop
i have set up an alert on XE
 
or put my euro into something else

It depends what that EUR is for. Do you actually need it in Sterling at any point in the near future? Maybe I might feed it into Sterling 20k per year to top up my ISA.

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[Chivas]

18 hours ago, nomad2019 said:

i have 75k eur in euro bank, would you advise me to lift the euro after brexit , as GBP will certainy drop

i have set up an alert on XE

 

or put my euro into something else

No I'd leave it exactly where it is !

[SheungWan]

Pay attention please!  I said, "Trying to be in the Euro crashed UK economy in the late 80's. "   I did not say, the Euro started in the 80's.
The ERM, established some 10 years before, tied currencies' values to that of the German mark to bring stability to European markets and encourage trade.
It was a precursor to the creation of the single European currency.
 
The UK entered the ERM in October 1990, but was forced to exit the programme within two years after the pound sterling came under major pressure from currency speculators. The ensuing crash of 16 September 1992 was subsequently dubbed "Black Wednesday".
The property market crashed. Things got worse in 1989, with interest rates reaching 15 per cent in October.
 
***
UK imports from the EU were £341 billion (53% of all UK imports). ... The UK had an overall trade deficit of -£67 billion with the EU in 2017.
A surplus of £28 billion on trade in services was outweighed by a deficit of -£95 billion on trade in goods.
The UK had a trade surplus of £41 billion with non-EU countries. 
We lose money trading with the EU, in the long run we will be poor.
It is profitable trading with the non-EU countries.
 

Looks like more than one Hard Brexiteer needs to take an Economics 101 course in international trade. Childish assumptions about trade being a zero-sum game. Intellectual laziness to the fore which isn't surprising really as there is only one topic they genuinely care about. And it ain't economics.

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[Perhaps2more]

1 hour ago, SheungWan said:

 1 ) Childish assumptions about trade being a zero-sum game.

 2 ) there is only one topic they genuinely care about. And it ain't economics.

1 ) These are not assumptions, and not predictions that you've been chanting. They are facts and you can check them. 

2 ) Doesn't that sound like you? Just read your comments.

[whiteman]

the sky is falling run for the hills bangkok bank today 37.99 to the pound only one way downnnnnnnnnnnnnnnnnnnnnnnnnnnnnn

[jastheace]

On ‎7‎/‎10‎/‎2019 at 5:01 PM, Kinnock said:

Yes - so Scotland may leave the UK and join the EU so Europe can subsidise them in the same way it props up Greece.  Perhaps the savings from not supporting Scotland is one way Boris can deliver on his lies about extra funds for the NHS?

and Europe can maintain the controversial 'Barnett Formula' for Scotland too, thus saving the rest of the UK more money. winner winner pad thai dinner

[jastheace]

On ‎7‎/‎10‎/‎2019 at 9:18 PM, Chelseafan said:

If only the rest of the UK could have a referendum asking if we wanted Scotland to remain part of the UK ????

 

 

has no-one except me ever heard of the 'Barnett Formula' 

pls wiki it or BBC website has good info. Scotland IS subsidised by England. Fact. referendum ? yes, bring it on, let all UK have a say, not just Scots.....

[nauseus]

4 hours ago, jastheace said:

has no-one except me ever heard of the 'Barnett Formula' 

pls wiki it or BBC website has good info. Scotland IS subsidised by England. Fact. referendum ? yes, bring it on, let all UK have a say, not just Scots.....

Is that to do with hair restoration?

[SheungWan]

has no-one except me ever heard of the 'Barnett Formula' 
pls wiki it or BBC website has good info. Scotland IS subsidised by England. Fact. referendum ? yes, bring it on, let all UK have a say, not just Scots.....

The whole lot subsidised by London if we are going to play that game. We call it the M25 Formula.

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[soalbundy]

On 7/12/2019 at 8:01 PM, nauseus said:

Project Fear is alive, ongoing and can't be dismissed. But remainers also avoid and deny the real prospect of a Euro crisis and consequent EU crisis. 

I don't think that is true, the EU seems to run from one crisis to the next but what is important is that they have always managed to overcome them. The Euro is a political construction and not a home grown currency, it was thought that the necessary convergence of all financial levels would then slowly but surely come under one hat which would be needed for a well functioning ECB and for a viable European Finance ministry, this hasn't happened, Germany is one of the biggest blockers of a federal finance system due to the well known lack of fiscal discipline in the Southern countries so it is amazing that the Euro is so strong and resilient despite the chaos that often arises in European politics. It is fair to say that despite everything those countries, especially the somewhat earlier backward ones (Poland as an example) that have the Euro are stronger for it and have stronger industrial bases and higher living standards than before (yes I know, high youth unemployment etc. who is to say they wouldn't have had this anyway, you can't keep devaluing your currency ad infinitum because you lack fiscal discipline). The Euro won't fail, it is a strong currency, remember at its inception it was something like 90 cents to the Dollar. There is political will behind it and something like 340 million people who use it everyday, it is the second most used currency in the world. If you read the financials you will see that the pound always matches itself on the Dollar and the Euro, never the other way round.

[jastheace]

11 hours ago, SheungWan said:

The whole lot subsidised by London if we are going to play that game. We call it the M25 Formula.

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yes, you're not far out. London and 4 counties surrounding the capital have GDP exceeding rest of the UK. controversial statement ? yes, will be but remains factual. sorry SNP, keep pushing for indy2, got my vote !

[nauseus]

17 minutes ago, soalbundy said:

I don't think that is true, the EU seems to run from one crisis to the next but what is important is that they have always managed to overcome them. The Euro is a political construction and not a home grown currency, it was thought that the necessary convergence of all financial levels would then slowly but surely come under one hat which would be needed for a well functioning ECB and for a viable European Finance ministry, this hasn't happened, Germany is one of the biggest blockers of a federal finance system due to the well known lack of fiscal discipline in the Southern countries so it is amazing that the Euro is so strong and resilient despite the chaos that often arises in European politics. It is fair to say that despite everything those countries, especially the somewhat earlier backward ones (Poland as an example) that have the Euro are stronger for it and have stronger industrial bases and higher living standards than before (yes I know, high youth unemployment etc. who is to say they wouldn't have had this anyway, you can't keep devaluing your currency ad infinitum because you lack fiscal discipline). The Euro won't fail, it is a strong currency, remember at its inception it was something like 90 cents to the Dollar. There is political will behind it and something like 340 million people who use it everyday, it is the second most used currency in the world. If you read the financials you will see that the pound always matches itself on the Dollar and the Euro, never the other way round.

Well, we shall see how resilient it is, sooner than later, I expect.

Edited July 19, 2019 by nauseus

[soalbundy]

Just now, nauseus said:

Well, we shall see how resilient it is sooner that later, I expect.

For the EU it isn't really a sooner or later problem, you overestimate the importance the UK has for the EU, yes there will be short term upheavals in certain industries but with a home grown customer basis of 500 million these will be overcome, more important will be the rearranging of political alliances in the EU. The UK was an important ally with the austerity block above all with Germany, with the UK gone fiscal discipline will be harder to push through. I read German newspapers everyday, there is hardly a mention of Brexit it's all about their own politics or EU policies. Certain British politicians are mentioned Boris, May, Hunt for example but there isn't the hysterical side taking or even a sense of urgency that Brexit has in all the British newspapers, no wonder the UK is sick of it all.

[Brunolem]

53 minutes ago, soalbundy said:

 it is amazing that the Euro is so strong and resilient despite the chaos that often arises in European politics. 

 

The Euro won't fail, it is a strong currency, 

You are only telling half of the story, forgetting that without the extraordinary, and unsustainable, policies of the ECB, the euro would have already failed. 

 

In order to keep it going, the ECB had to move into negative rates territory and to resort to permanent QE. 

 

As I wrote earlier, this is like keeping a patient alive under respiratory assistance and constant injections of antibiotics. 

 

So, technically the patient, the euro, is alive, but it is certainly going nowhere. 

 

Capitalism, at least true capitalism, cannot work without savings, and savings cannot work with negative interests. 

 

In the end, something has to give, like pension funds for example, who need some serious fixed income in order to pay the increasing numbers of retirees. 

 

The EU and the euro are simply living on borrowed time... kicking the can down the road... 

[Perhaps2more]

4 minutes ago, soalbundy said:

but with a home grown customer basis of 500 million these will be overcome,

You are saying; they will retry selling to the market they're already in but couldn't sell before? They will rearrange and overcome everything, unlike us.

Nice to have faith in them, at the same time, thinking the UK will not be able to rearrange, overcome anything. We will just fall over after leaving the EU and live in abject poverty.

At the moment we pay in to the EU more than getting back, and we buy from them more than selling to them. 

About 2.4 billion people (not a small market compare to the EU) - live in the Commonwealth's 53 countries. And most of them are under the age of 30.

Queen Elizabeth II is the Head of the Commonwealth. UK news sometimes tell about some of the royal family visit and exchange visit between ministers, some precontracts were signed. That wouldn't be printed in the German newspapers, I think.