Sterling Slide Is Worst Since 1931

[MeetJohnDoe]

Whatever Spiderguy...you still didn't answer any of my points?

But what do I know...only that over the past few months the Pound has gone from around 70 Baht down to 50 Baht...while at the same time, the US$ has gone from 31/32 Baht up to 34/35

Maybe you should take some of your strong Bahts and buy up some of that now cheap property in the UK and help buck-up your own economy

[spiderman2]

Whatever Spiderguy...you still didn't answer any of my points?

I answered all your points

But what do I know...only that over the past few months the Pound has gone from around 70 Baht down to 50 Baht...while at the same time, the US$ has gone from 31/32 Baht up to 34/35

Yes but the weak pound is possibly a good thing if we are to start exporting more, because a few sex tourists get less bang for their buck in LOS is possibly not at the top of the UK economic policy. But its very bad for an exporting nation like Thailand to have such a strong currency at a time like this.

Maybe you should take some of your strong Bahts and buy up some of that now cheap property in the UK and help buck-up your own economy

Ive only 240 Bht in my pocket i couldnt get a doorbell for that, im about to change 200GBP at a rate of 51 bht and it does hurt a bit but i'll survice ive overcome greater tragedies in my life then a weak pound.

Besides why does it fill you with such joy that the British economy is in the sh7t??????? please answer this.

[Ricardo]

Typical yank reply. The yanks started this crisis and instead of being contrite, they shout and show off coz other countries are suffering because of them.

Don't you still owe us for "Lend-Lease"? Nope, recently completed repayment, I believe.

I wouldn't be talking trash when we pulled your <deleted> out of the Nazi fire You believe everything Hollywood puts out ?

We started it...seems to me the UK has it's own mega-subprime housing loan scandals and problems that have nothing to do with us! Got to agree, the UK has serious problems, that's 1 out of 3, I believe.

[jubby]

UK the same as Thailand? Really?

Maybe, but:

UK = Rule of Law, propert rights, enforcement of contracts...

UK = Civilian control of Armed Forces

UK = Independent judiciary

UK = Professional police force (I don't think they accept bribes as often as the Thai police do)

I'm not a betting man, but if I were and forced to choose between the UK or Thai economy, gee wiz, I might bet on the Brits

Its worrying but I'm not sure which I would choose. We (The Brits) have a so called 'New' economy based on Services, Financials, but mainly 'Hot Air' and Bullshit. We are F**cK%d !

UK = Highest level of personal Debt in the entire world according to the IMF.

I wonder how long it will take us to pay off the impending IMF Loan , thats assuming the IMF has sufficient Funds.

[jesimps]

Message to moderator:

Grateful you ban MeetJohnDoe, he's the most obnoxious b.....d I've seen on this website, and a racist to boot. I've a load of ammunition to fire back, but this website is normally very tollerant between the races and don't wish to start a war.

[bingobongo]

get ready kiddies.....that is a real pretty "death cross"...............tick tick tick to the brits, pain is coming to the island as well as to the expats in LOS paid in Sterling

DEATH CROSS: A crossover resulting from a long-term moving average breaking above its short-term moving average or support level.

As long-term indicators carry more weight, this trend indicates a bear market on the horizon and is reinforced by high trading volumes. Additionally, the long-term moving average becomes the new resistance level in the rising market.

US Dollar to Sterling

Edited December 21, 2008 by bingobongo

[Chaimai]

Message to moderator:

Grateful you ban MeetJohnDoe, he's the most obnoxious b.....d I've seen on this website, and a racist to boot. I've a load of ammunition to fire back, but this website is normally very tollerant between the races and don't wish to start a war.

If it becomes a vote, I am with jesimps. I have never come across a more inflammatory poster. The above adjective is accurate. I also suspect he is a reincarnation.

Edited December 21, 2008 by Chaimai

[mommysboy]

Oh contraire, I am assured by a poster in another thread that GBP will reach 75 Baht within six months and his source is the Minister of Finance, how to reconcile this disparity I wonder!

Well partly by realising this is a worst case scenario. It's more likely the low pound will secure fresh investment and boost exports. It could also lead to a shallower recession. It's a standard ploy used when debts are high and works.

The poor exchange rate is exacerbated by speculation, and we've experience massive volatility across all markets. Parity to the Euro is a joke, but one UK will end up laughing about the most.

I don't know why the bt is so high even against the dollar. One suspects a heavy fall, although in the short term my gamble is on 48bt to the pound before a massive run on the bt. The pound will gain least, perhaps mpoving to 60bt in the next few months. I think the dollar could wel rise 45-50 against the bt

[whiterussian]

dump the euro... dump the bhai tart

buy swiss franc or sterling.

sorry not log, but only way i could show the lines pointing to 1:1 spooky, almost like manipulation

we can always sell Canada to the Ruskies if we need a cash injection

Edited December 21, 2008 by UKWEBPRO

[mommysboy]

dump the euro... dump the bhai tart

buy swiss franc or sterling.

In a few weeks yes, but first the speculators will be getting all they can out of the massive swing. We're going through crazy times and there is a determination that these currencies are going to test historical lows.

But yes for sure.

[Rinrada]

Roll on the Hols ...gi-us a break......

USD1 USD : 1............... 33.32

USD5 USD : 5-20.......... 33.66

USD50 USD : 50-100 .....34.10

GBP United Kingdom .....50.66

EUR Euro Zone .............47.81

bangkok+bank/personal+banking/foreign+exchange/fx+rates/default.htm

[LaoPo]

get ready kiddies.....that is a real pretty "death cross"...............tick tick tick to the brits, pain is coming to the island as well as to the expats in LOS paid in Sterling

DEATH CROSS: A crossover resulting from a long-term moving average breaking above its short-term moving average or support level.

As long-term indicators carry more weight, this trend indicates a bear market on the horizon and is reinforced by high trading volumes. Additionally, the long-term moving average becomes the new resistance level in the rising market.

US Dollar to Sterling

Hmmmm......a(nother) bear market -on the horizon- WITHIN the present most devastating bear market since decades ?

That's a strange bear market since we all know that the markets will go down much further: Dow, down to 7000 from the present 8,579 ?

That would mean another -18,5%

Personally, wouldn't be surprised if the Dow would go lower than 7,000.

Sorry, off topic and back to the Sterling, or what's left of it.

LaoPo

[flying]

get ready kiddies.....that is a real pretty "death cross"...............tick tick tick to the brits, pain is coming to the island as well as to the expats in LOS paid in Sterling

I always expect you to say something like..............

MUAHAHAHAHAHAHAHAAH BWAHAHAHAHAAHAHA After a paragraph like the one above

Edited December 21, 2008 by flying

[MJP]

GBP fails every health check

The pound just won’t stop falling. As of Friday morning, the UK currency was down 5% against the euro over a week, and 17% since mid-October. This decline is all too justified.

. . .

http://www.livemint.com/2008/12/21222043/B...y-heal.html?h=B

[chiang mai]

Interesting to read what Roger Bootle has to say on the subject, a partial quote follows:

"The pound is bound to go down, isn't it? Well, isn't it? No, it isn't. As a matter of fact, on this occasion I do not have a very strong view one way or the other. The historical record shows that most of the time it is incredibly hard to know in which direction currencies are going to move, never mind how far they will go, or when. Indeed, a study conducted some while back by the Bank of England concluded that anyone wanting to know whether an exchange rate was going to go up or down would be better off flipping a coin than listening to what economists have to say. I doubt whether the taxi drivers are any better".

The full article is here - http://www.telegraph.co.uk/finance/comment...l-continue.html

[MJP]

Interesting to read what Roger Bootle has to say on the subject, a partial quote follows:

"The pound is bound to go down, isn't it? Well, isn't it? No, it isn't. As a matter of fact, on this occasion I do not have a very strong view one way or the other. The historical record shows that most of the time it is incredibly hard to know in which direction currencies are going to move, never mind how far they will go, or when. Indeed, a study conducted some while back by the Bank of England concluded that anyone wanting to know whether an exchange rate was going to go up or down would be better off flipping a coin than listening to what economists have to say. I doubt whether the taxi drivers are any better".

The full article is here - http://www.telegraph.co.uk/finance/comment...l-continue.html

I'm hoping for that technical strength from a rush back into commodities. Arran suggested it in the other thread.

Right. Who knows? But as you well know, CM, having a system is important. The ability to move on currency rapidly if there is a bounce and the means of daily monitoring.

Thanks again for your advice. Very much appreciated.

[misterman21]

The pound is being intentionally brought down by Lord Mandelson so we kow tow to the demands of Europe to accept the Euro. It is now n par with the Euro and looks only to be getting worse. I give it a couple of years before Britain is just another European state with everything decided in Brussels. Already 80% of al laws brought into power came from the EU. Is funny because I can only ever remember voting for a common market not to join a European superstate ? If ever we get a party with the balls to give the people a vote on weather to leave this fiasco the sooner we can go back to running the country ourselves.

The Pound is not on par with the Euro my friend (at least not yet) As far as your conspiracy theories involving Lord Mandleson, I will let your countrymen comment on that one! The BOE will have no choice but to lower rates to 0% within the next 3 months, as the U.K. is in dire straits and they are quickly running out of water to throw on the fire! As for the EU, if Trichet does not start cutting rates more substantially soon it is possible that the EU could start to unravel all on its own

WRONG !!!! As of yesterday 100 pounds got you 97 EURO S so I would call that being on par with the Euro My friend. And Its o conspiracy theory just good old fashioned British politics My friend. something as an Amercian would know nothing about.

Exactly! However, please excuse the dumb sleepers who shout conspiracy theory to everything that comes to light which they find uncomfortable or falls outside what they understand through their outdated belief system!

Ignorance, the purest form of evil - Plato

[think_too_mut]

some people had either lousy maths teachers or derive their information from the neighbour on the barstool next to them

What's wrong with the guy on the next barstool? Why is his knowledge inferior to that of the Financial Times or the Wall Street Journal?

Those sad fcuks (in so called "finest press") had no clue what was happening and going to happen, same as anyone in the beer bars, bar girls included.

I remember, end of 2006, an article in the Financial Times titled "Make it 2 Ferraris" where they glorified the Wall Street criminals and their bonuses.

The tone was - you on the parqet, have no brains that Goldman Sachs secretaries and assistants do. If you had, you would have been taking home half a million instead of 40K a year.

Or, another one that should be blindfolded and shot in the back of his head, Rick Wagooner of GM. The moron has presided of the greatest value destruction machine in history - with GM he has shreaded 65 billion US$ over 4 years. Hey, nearly 2 billion a month!

My old friend, tatooed, overweight ,old and bald Dietrich, an ex-sheet metal worker from Dresden now retired and with alcohol problems could not have done that even if given a flame-throwing device and shown the mountain of money, which 65 bil US$ is.

Edited December 22, 2008 by think_too_mut

[Naam]

some people had either lousy maths teachers or derive their information from the neighbour on the barstool next to them

What's wrong with the guy on the next barstool? Why is his knowledge inferior to that of the Financial Times or the Wall Street Journal?

wrong is when the guy next to you on the barstool claims that 2 plus 2 equals 3.8 or (depending on the ambient temperature) 4.2

[Rinrada]

Did a beer cruise last week (company joli) to Calais/St Omer .....bus from Islington.....onto the Boat /Bar....R/T and had a great day out but not many punters....easy....

Calais /St Omer was almost empty and 4 of us spent the afternoon in a local boozer which the Le Patron appreciated....no customers ....

then off to the Hyper for the hooch but nobody bought any ...same price as Angleterre.......

Back on the Boat and au voir la Belle France...see you again....one day.........dont know where ..dont know when but I am sure...etc.........

[mijan24]

As of yesterday 100 pounds got you 97 EURO

tourist rates at the exchange booths.

taxexile - Then this means there is a better rate for others, where do you obtain this better rate may I ask?

Lets not talk theoretical forex online that is simply an exercise in statistics.

[chiang mai]

As of yesterday 100 pounds got you 97 EURO

tourist rates at the exchange booths.

taxexile - Then this means there is a better rate for others, where do you obtain this better rate may I ask?

Lets not talk theoretical forex online that is simply an exercise in statistics.

If you take a look at the attached link you will see that the spreads in country are significant, add to those the overseas element and the range of rates on the same exchange are huge.

http://bankexchangerates.daytodaydata.net/default.aspx

[whatawonderfulday]

Yeah...what ever happened to all that talk about London being the new world capitol of finance and edging out NYC

What was it that comes after hubris...oh yeah...the fall...in this case...A BIG ONE!

That's what happens when some little folks in UK try to play with the big boys...you get squashed...you can't try to be a world financial capitol when you are not a world class and sized economy...you can't backstop such ambitions with an economy that's only 1/5th the size of the USA!

I think you misinterpreted somewhat:- London's apsirations were to be the worlds financial money laundering capital - in that it appears to have succeeded.