The Pound Sterling Goes Up Like A Rocket! :)

[fletchsmile]

BTW Let's not forget that the US entered WW2 when it thought it was in its own interest to do so, and not to "save other people's butts". A motif it has followed frequently in other conflicts since. My respect tho' to the people that gave so much... and I don't mean financial wealth.

that of course is incorrect. or were my history teachers wrong teaching that Japan attacked Pearl Harbor? was it the sixth fleet which attacked Osaka on dec7 1941?

I'd say your teacher was right with the facts. It's your interpretation where we differ. The US had many opportunities to enter the war beforehand, if it simply wanted to "save people's butts".

As you point out, they entered WW2 after being themselves attacked, i.e when they though it was in their interests to do so. Up til Pearl harbour they had decided it was not in their interest to enter WW2. After Pearl harbour they decided it was in their interests to enter WW2

Edited October 6, 2007 by fletchthai68

[Naam]

BTW Let's not forget that the US entered WW2 when it thought it was in its own interest to do so, and not to "save other people's butts". A motif it has followed frequently in other conflicts since. My respect tho' to the people that gave so much... and I don't mean financial wealth.

that of course is incorrect. or were my history teachers wrong teaching that Japan attacked Pearl Harbor? was it the sixth fleet which attacked Osaka on dec7 1941?

I'd say your teacher was right with the facts. It's your interpretation where we differ. The US had many opportunities to enter the war beforehand, if it simply wanted to "save people's butts".

As you point out, they entered WW2 after being themselves attacked, i.e when they though it was in their interests to do so. Up til Pearl harbour they had decided it was not in their interest to enter WW2. After Pearl harbour they decided it was in their interests to enter WW2

i did not interpret anything but stated a fact Fletch. but if it's of interest to you... my interpretation and knowledge of the situation is quite similar to yours and i add that Japan had hardly any other option than to act because the U.S.... well it's all in the history books.

[VegasVic]

BTW Let's not forget that the US entered WW2 when it thought it was in its own interest to do so, and not to "save other people's butts". A motif it has followed frequently in other conflicts since. My respect tho' to the people that gave so much... and I don't mean financial wealth.

that of course is incorrect. or were my history teachers wrong teaching that Japan attacked Pearl Harbor? was it the sixth fleet which attacked Osaka on dec7 1941?

Your history teachers were absolutely correct Dr. Nam! If the U.S. was only defending itself or acting in its self interest it would have entered the war in the Pacific against the Japanese, and would have left the European conflict to the Europeans to sort out Some of the other critical points that our friend Mr.Fletch seems to have convieniently left out is the fact that it was Chamberlin who appeased the Nazis and hence allowed the Third Riech to prosper and the fact that years before entering the fray in Europe the U.S. was sending arms and supplies to the allies via merchant ships, and the attacks on those quasai merchant vessels was the impetus that FDR gave as to why the U.S. should enter the European war! Had the U.S. focused in the Pacific and not entered the war on the European front its about a 50-50 proposition as to weather the brits would be speaking German or Russian today

[cdnvic]

Back on topic, today I saw $2.00CDN = 1 Pound Sterling. That's a historical low. Not doing well with the Euro either, only really making gains on the USD.

[fletchsmile]

Back on topic, today I saw $2.00CDN = 1 Pound Sterling. That's a historical low. Not doing well with the Euro either, only really making gains on the USD.

Really depends on your reference points, in terms of dates and currencies:

The 4 main traded currencies are USD/EUR/JPY/GBP. If you took say 1 Jan 2000 as a reference point, the only one GBP is not fairing well against is EUR.

CAD would come in the next tranche of 4 currencies in terms of importance: CHF, CAD, HKD, AUD. To be honest I don't really actively follow any of these as there is a dramatic drop in significance outside the main 4. AUD and CAD are doing well I believe. HKD you can ignore because of its USD peg (i.e GBP will be strong vs that too). CHF doesn't look anything special.

Regionally I am interested personally in SGD/THB/IDR. Against all those GBP is quite fairing well.

Hence I would't say USD is the only currency GBP is making gains against. BTW I also wouldn't say it is rocketing vs THB tho'.

Could summarise: USD weak; CAD strong: AUD strong; EUR strong. These are the main ones to talk about in terms of strength/wekaness at the moment if you happen to be interested in them. GBP for exampe doesn't look anything special, just the flip side of each of these.

Edited October 7, 2007 by fletchthai68

[Naam]

BTW Let's not forget that the US entered WW2 when it thought it was in its own interest to do so, and not to "save other people's butts". A motif it has followed frequently in other conflicts since. My respect tho' to the people that gave so much... and I don't mean financial wealth.

that of course is incorrect. or were my history teachers wrong teaching that Japan attacked Pearl Harbor? was it the sixth fleet which attacked Osaka on dec7 1941?

Your history teachers were absolutely correct Dr. Nam! If the U.S. was only defending itself or acting in its self interest it would have entered the war in the Pacific against the Japanese, and would have left the European conflict to the Europeans to sort out Some of the other critical points that our friend Mr.Fletch seems to have convieniently left out is the fact that it was Chamberlin who appeased the Nazis and hence allowed the Third Riech to prosper and the fact that years before entering the fray in Europe the U.S. was sending arms and supplies to the allies via merchant ships, and the attacks on those quasai merchant vessels was the impetus that FDR gave as to why the U.S. should enter the European war! Had the U.S. focused in the Pacific and not entered the war on the European front its about a 50-50 proposition as to weather the brits would be speaking German or Russian today

not exactly Vic. you seem to forget a major point. based on agreements of the "axis Berlin-Tokyo" Nazi-Germany declared war (december 11, 1941) on the United States after its japanese "brothers in arms" attacked Pearl Harbor and official declarations of war (Japan / United States) were exchanged.

[naklang]

Where are the USA's financial resources being allocated? Where are Europe's going? What has been the pattern of the last 50 years for percentage of GDP spent on defense for each?

Will Americans continue to lend political support to seeing their hard earned tax dollars go to weaponry instead of human services and infrastructure within its borders? Will Americans soon desire a more "European" social spending structure? Will America return to more of an isolationist policy as in the early 20th century? And if so, what are the implications for the world?

Again, if this happens, what kind of leadership can we expect from the Chinese, Russia etc.?

If this is a troubling thought, then I would suggest that the UK and Europe realize that there may be more in common with the USA and our way of life than the alternative.

This means action instead of lip service and caving in to violence and coercion by rogue/fringe elements bent on creating instability towards their own ends. History has shown that "appeasement" only encourages more violence as it has proven to be rewarding.

This global chess match is ugly business at times and we will not always agree on how to proceed. But lets not wait to strengthen our alliances only after global crisis is underway. It's an open invitaton for (use your imagination) when the UK, USA, and Europe are divided.

A militarily strong Europe and UK allied with the US still remains the best recipe for maintaining and advancing human rights and liberty in the world. Something that many of us take for granted, but is unknown to billions of human lives. Don't allow the current nastiness in Iraq poison the big picture.

[pkrv]

I don't care about any of this. I just want more baht for my USD!

Somehow I don't think that is going to happen.

BTW on the subject of old Empires the Spanish Empire was the first to fall as America declared war. All Spanish 'overseas' territory was ceased and held with the notable exception of Cuba (and Spain itself – prompting the overthrow of the royal family). With the absorption of the Spanish Empire the US is clearly an Empire, but these things are dead ducks.

[peter991]

Interesting news last night. The Reserve Bank of Australia announced that the Australian Dollar (AUD), which has been hovering around the 90c (AUD) to $US1 recently, will be 92c (AUD) to $US1 by Christmas this year and will rise to 95c (AUD) to $US1 by the middle of next year.

I know nothing about currency fluctuations - but as a regular traveller between Australia and Thailand I am affected by the amount of Thai Baht my Australian Dollar will buy.

I am curious as to HOW the Reserve Bank can say with confidence what the rate will be in 6 - 9 months time. Anybody with a crystal ball who wants to tip what the AUD to THB rate will be in the middle of 2008?

Peter

[cdnvic]

Interesting news last night. The Reserve Bank of Australia announced that the Australian Dollar (AUD), which has been hovering around the 90c (AUD) to $US1 recently, will be 92c (AUD) to $US1 by Christmas this year and will rise to 95c (AUD) to $US1 by the middle of next year.

I know nothing about currency fluctuations - but as a regular traveller between Australia and Thailand I am affected by the amount of Thai Baht my Australian Dollar will buy.

I am curious as to HOW the Reserve Bank can say with confidence what the rate will be in 6 - 9 months time. Anybody with a crystal ball who wants to tip what the AUD to THB rate will be in the middle of 2008?

Peter

I laughed when the banks here were talking about a Canadian Dollar reaching $0.95 USD six months ago, now it's $1.03 so this time they may be on to something. Australia doesn't have much in the way of debt and the economy is pretty good so there's no reason why it shouldn't continue to gain while the US is running record deficits.

[stament]

Interesting news last night. The Reserve Bank of Australia announced that the Australian Dollar (AUD), which has been hovering around the 90c (AUD) to $US1 recently, will be 92c (AUD) to $US1 by Christmas this year and will rise to 95c (AUD) to $US1 by the middle of next year.

I know nothing about currency fluctuations - but as a regular traveller between Australia and Thailand I am affected by the amount of Thai Baht my Australian Dollar will buy.

I am curious as to HOW the Reserve Bank can say with confidence what the rate will be in 6 - 9 months time. Anybody with a crystal ball who wants to tip what the AUD to THB rate will be in the middle of 2008?

Peter

I laughed when the banks here were talking about a Canadian Dollar reaching $0.95 USD six months ago, now it's $1.03 so this time they may be on to something. Australia doesn't have much in the way of debt and the economy is pretty good so there's no reason why it shouldn't continue to gain while the US is running record deficits.

Can we get back on topic. The original thread was about STERLING GBP

Thanks

[pkrv]

GBPTHB=

The highest I saw was about 75, the long term average was about 65 we are now (on-shore rate) 69/70 ish. Because people are fiddling with the market it's difficult to predict where it will go - clearly being UK based I would prefer 75 but the reality is that when I make my next payment (10m) the rate will be, what the rate will be.

Edited October 12, 2007 by pkrv

[cdnvic]

Interesting news last night. The Reserve Bank of Australia announced that the Australian Dollar (AUD), which has been hovering around the 90c (AUD) to $US1 recently, will be 92c (AUD) to $US1 by Christmas this year and will rise to 95c (AUD) to $US1 by the middle of next year.

I know nothing about currency fluctuations - but as a regular traveller between Australia and Thailand I am affected by the amount of Thai Baht my Australian Dollar will buy.

I am curious as to HOW the Reserve Bank can say with confidence what the rate will be in 6 - 9 months time. Anybody with a crystal ball who wants to tip what the AUD to THB rate will be in the middle of 2008?

Peter

I laughed when the banks here were talking about a Canadian Dollar reaching $0.95 USD six months ago, now it's $1.03 so this time they may be on to something. Australia doesn't have much in the way of debt and the economy is pretty good so there's no reason why it shouldn't continue to gain while the US is running record deficits.

Can we get back on topic. The original thread was about STERLING GBP

Thanks

No problem. Today the STERLING GBP fell to all time lows against the CAD and continued to lose ground against the AUD.

[pkrv]

I think the OP was really talking about Sterling and Thai Baht, not Sterling vs. other currencies, but of course this is all interrelated.

In a sense all this is all a mute point. Due to the on-shore/off-shore issue you have to transfer (in this/my case Sterling) to Thailand. Given it takes 2/3 days to arrive and be converted god know what rate you will get, especially if you are transferring to a developer and not to your own Thai account.

For the moment GBPTHB= is not bad but not that good either, 68 ish? but come November when I transfer, it could be a whole new ball park and I will be contractually obliged to pay.

(Good news on CAD that should be doing well for the Baht.)