Baht To Pound Or Keep The Baht?

[mommysboy]

Why do you think the UK will join the Euro - There would need to be a referendum and I would say virtually No chance .

I also think that the Baht is at a high level and pound at a low and think it probable that the pound will be gaining against the baht next year from these levels .

Hope you're right churchill, but I seem to remember reading that when the UK decimalized in 1971, there wasn't a referendum. Maybe going euro would warrant a referendum, maybe it wouldn't!!

Sorry mistresserika (spank me resoundingly if you will) but you are talking nonsense!

As for the pound/bt argument, well we've already got a thread running on that one, can't we merge this lesser thread with that one!

[12DrinkMore]

A lot in the UK still haven't accept decimalization , pints , lbs , stone , feet , miles etc etc

but I am sure converting to the euro would require a referendum .

It is now over thirty eight years since 15 February 1971. I remember eagerly receiving my set of coins at school. There is now no excuse for not being comfortable with the metric system. Anybody in the UK sitting back and saying "I don't understand" is on the losing side. Even though we still have the legacy of TV's being measured in inches, air conditioners in BTU's and beds in feet.

At the moment the UK would fail to meet to the entry requirements to the EUR anyway. Gordon would have a few issues to deal with:

The country's annual government budget deficit (the amount of money it owes) cannot exceed 3 percent of gross domestic product (GDP, the total output of the economy).

The total outstanding government debt (the cumulative total of each year's budget deficit) cannot exceed 60 percent of GDP.

In order to push down inflation rates and encourage more stable prices, the country's rate of inflation must be within 1.5 percent of the three best performing EU countries.

The average nominal long-term interest rate must be within 2 percent of the average rate in the three countries with the lowest inflation rates. (Interest rates are measured on the basis of long-term government bonds and/or comparable securities.)

The country's exchange rates must stay within "normal" fluctuation margins of the European Exchange Rate Mechanism (ERM) for at least two years.

Maybe before the IMF steps in he could claim clemency?

I don't believe there is any statutory requirement for a referendum, which means the elected lot can do what they want. And if Brown thinks that it will ensure Blair the Presidency of Europe, then we might possibly end up in the EUR very quickly. I'm sure a few entry criteria could be "overlooked". :D

[henryalleman]

I don't believe there is any statutory requirement for a referendum, which means the elected lot can do what they want. And if Brown thinks that it will ensure Blair the Presidency of Europe, then we might possibly end up in the EUR very quickly. I'm sure a few entry criteria could be "overlooked".

I don't think the European politicians don't like to have the 5th colony leading Europe.

The UK never was pro EU, they prefer to rely on their puppet master across the ocean.

When Sarkozy and Merkell liked to put stringent rules to regulate the banking sector, who was against it? Yes Brown and Obama. In the Uk and the US its bussiness as usual for the banks. They learned nothing yet.

That's why Blair will never be President of the EU, because the UK is a real pain in the neck for the EU.

The UK should realize that the EU is the future not their puppet master across the ocean.

If the Asian countries did'nt support the $ last week it would go down even further, and its a sign that many countries are planning to replace the $ as primary international currency.

[12DrinkMore]

I don't believe there is any statutory requirement for a referendum, which means the elected lot can do what they want. And if Brown thinks that it will ensure Blair the Presidency of Europe, then we might possibly end up in the EUR very quickly. I'm sure a few entry criteria could be "overlooked".

I don't think the European politicians don't like to have the 5th colony leading Europe.

The UK never was pro EU, they prefer to rely on their puppet master across the ocean.

When Sarkozy and Merkell liked to put stringent rules to regulate the banking sector, who was against it? Yes Brown and Obama. In the Uk and the US its bussiness as usual for the banks. They learned nothing yet.

That's why Blair will never be President of the EU, because the UK is a real pain in the neck for the EU.

The UK should realize that the EU is the future not their puppet master across the ocean.

If the Asian countries did'nt support the $ last week it would go down even further, and its a sign that many countries are planning to replace the $ as primary international currency.

Yep, I think you are right on all counts.

Except that Obamah is now looking more to Europe, the "special relationship" with the UK is declining fast. Remember Brown chasing after Obamah for some "face" time? All he managed was a quick meeting in a kitchen. Good on Obamah, Brown was never elected as Prime Minister and is an utter loser.

The "G4" has already been mentioned, namely G5 minus the UK. There are now very few politicians left in the UK with charisma or leadership, the Labour party has outspent their welcome and overspent their budget, as usual. The Tories are, to be honest, a very mediocre bunch. And across the entire board they have shown that they are all a bunch of fraudulent expense claimers. If they had been employed in private industry the majority would have been sacked, prosecuted and the tax man would be asking a few questions. However, our leaders have positioned themselves above the law that applies to the rest of us.

The political system is also antiquated, the non-elected house of Lords should be abandoned.

And to cap it all, look at the behaviour of the <deleted> when in session, it reminds me of braying donkeys and snorting pigs. Ridiculous, instead of trying to run the country in an efficient way, they fling mud and personal comments at each other. It is degrading to the whole country.

[pkrv]

As most will be aware the pound has dropped against the baht. I will be visiting the UK shortly and something I cant get my head around is whether to change 30,000 baht into pounds or just use the pounds from my UK bank account. Despite what's happened in the economic world I would rather keep the vast majority of my money in the UK……..but I don't mind spending that if changing baht to pound is a waste. I'm really scratching my head on this one……….can anyone shed some light??

Cheers

Hmm Back to topic...

The Op's original question actually has a number of answers.

1) If he is a retiree from the UK he will have to maintain a minimum funding in Thailand. If that fund is now sort of fixed IMO it would probably not be prudent to draw on it for a quick win in stirling, as you may have to top up your THB at a future unkown rate, which could be worse than today. IMO spend your GBP.

2) If there is an income in THB and/or there is more wealth than you need in Thailand, then sure IMO it makes sense to exploit the THB's strength - more bang for your buck. Then again what else are you going to do with your stirling in the UK, is it just sitting there? It could be a good time to run your GBP reserves down if you are coming over anyway?

[kiwiinasia]

Time to drop the pound completely and convert to some other base currency.

Maybe too late to get the best value but the pound is on a downward spiral that should last another 18 months unless Gordon Brown dies in which case it will rise for a week or two.