Is The British Pound Doomed

[mommysboy]

Can I please ask for links to sites that quotes numbers when you state them.

If you make any claims to GDP, CPI make sure you understand how they are made up.

Replacing a steak with a hamburger in the CPI, just does not make sense.

This linking/referencing business is quite tricky isn't it, as evidenced by your own lack of it, but I assume you are referring my recent posting.

Try re-reading it. I'd be only too happy if someone could come up with some definitive figures !!!- that's the problem. I think my posting was clear on that.

[AlexLah]

I think I linked to the IMF source in another post.

What do you mean my lacking of posting links?

And indeed the only stuff we can link to is controlled by the big bankers and government, how we now it is true?

We don't

[lannarebirth]

Can I please ask for links to sites that quotes numbers when you state them.

If you make any claims to GDP, CPI make sure you understand how they are made up.

Replacing a steak with a hamburger in the CPI, just does not make sense.

http://www.shadowstats.com/

[mommysboy]

I think I linked to the IMF source in another post.

What do you mean my lacking of posting links?

And indeed the only stuff we can link to is controlled by the big bankers and government, how we now it is true?

We don't

OH GAWD!!!

[AlexLah]

Sorry, what do you mean by saying Oh God?

[churchill]

A positive view

British Pound: Evidence that a Strong Rally is around the Corner

http://www.dailyfx.com/story/bio2/British_...6876333713.html

[AlexLah]

Is there evidence that the UK will produce goods and increase their exports to be higher then their imports?

Is there evidence that the UK will spend less and save more to be able to pay off their debts?

[Naam]

Is there evidence that the UK will produce goods and increase their exports to be higher then their imports? Is there evidence that the UK will spend less and save more to be able to pay off their debts?

it is rather difficult to show evidence concerning the future except if "Britania rules the [Elliott] waves"

[AlexLah]

Slap, slap slap!

Go away you evil Klingon, (Alex waiving flyswatter through the air).

[The Philosopher]

Sorry, what do you mean by saying Oh God?

Oh God can be expressed for many reasons and taken in many context for example:

Oh God! I am really scared

Oh God! After waking up in Pattaya after being pissed the night before and you have no money left and don't remember a thing

Oh God! That was brill after waking up in Pattaya and remembering everything

Oh God! Take a look at that

Or in this case Oh God this post is getting boring

[teletiger]

Oh God, El Galacticos got hammered 4-0 last night.

Regards.

[Gary A]

Asking a friend, "I was short 10,000 baht this morning". "What happened"? The friend said, "You had a great time". Reaction, "Oh thank God, I thought maybe I lost it".

[elliss]

Is The British Pound Doomed

We are all doomed.

all western currrencies ,

are fkcd , big time . for a long time.

[sanmiguel]

The British economy will bounce back as it always has done, hence sterling will be so strong you'll all be stars with the ladies once again.

The Swiss govt have slightly devalued their currency this week so theyre workers are priced more competitively, mid to long term it is in the interest of British workers to have a weak pound, thus enabling us to compete in manufacturing and grow this sector when it picks up.

Please will you fukwits who say Britain doesnt manufacture anything do a bit of research you'll find youre very wrong.

Besides we've only got at most another 14 months of Gordon and Nuliebour corrupt incompetent thieves so things are looking up.

[12DrinkMore]

Please will you fukwits who say Britain doesnt manufacture anything do a bit of research you'll find youre very wrong.

Maybe a few examples might help. I've been looking and can't find very much.

Besides we've only got at most another 14 months of Gordon and Nuliebour corrupt incompetent thieves so things are looking up.

14 months of further idiocy. Do you really think that is cause for optimism? Think of the damage these loonies can still do.

[lannarebirth]

I think George Bush and company came up with "TARP" in their last 14 weeks. Never underestimate the damage these <deleted> can do. Now America is looking forward to 4-8 years of someone who will spend any amount of money to avert the "economic catastrophe" that is lurking around every corner. You thought capitalists were bad? Wait till gargantuan government gets ahold of you. At least the capitalists gave you a chance to get out if you were thinking clearly.

[Merangue]

Please will you fukwits who say Britain doesnt manufacture anything do a bit of research you'll find youre very wrong.

Maybe a few examples might help. I've been looking and can't find very much.

Besides we've only got at most another 14 months of Gordon and Nuliebour corrupt incompetent thieves so things are looking up.

14 months of further idiocy. Do you really think that is cause for optimism? Think of the damage these loonies can still do.

http://www.esrcsocietytoday.ac.uk/ESRCInfo..._tcm6-13363.ppt

[endure]

Please will you fukwits who say Britain doesnt manufacture anything do a bit of research you'll find youre very wrong.

Maybe a few examples might help. I've been looking and can't find very much.

Besides we've only got at most another 14 months of Gordon and Nuliebour corrupt incompetent thieves so things are looking up.

14 months of further idiocy. Do you really think that is cause for optimism? Think of the damage these loonies can still do.

http://www.timesonline.co.uk/tol/comment/c...icle5897706.ece

[chiang mai]

Is there evidence that the UK will produce goods and increase their exports to be higher then their imports?

Is there evidence that the UK will spend less and save more to be able to pay off their debts?

There is indeed evidence that Brits are turning from borrowings to savings on a fairly large scale, albeit this is an enforced move on the part of many people - and no I don't have a link to support this claim but I'm sure if you are sufficiently interested you can Google away and verify that claim. But perhaps more interesting for me at least is the news that there is a growing mass of short positions being built against the Euro in the expectation that the Euro is ready for a substantial fall. That combined with news that the Swiss Franc is to be devalued leads me to think that the Pound is not as badly off as one might think, not good but not that bad either.

[mommysboy]

Sorry, what do you mean by saying Oh God?

Oh God can be expressed for many reasons and taken in many context for example:

Oh God! I am really scared

Oh God! After waking up in Pattaya after being pissed the night before and you have no money left and don't remember a thing

Oh God! That was brill after waking up in Pattaya and remembering everything

Oh God! Take a look at that

Or in this case Oh God this post is getting boring

I wrote "Oh Gawd" in exasperation to AL's postings - as in 'what's the point in trying"

[Naam]

Is there evidence that the UK will produce goods and increase their exports to be higher then their imports? Is there evidence that the UK will spend less and save more to be able to pay off their debts?

But perhaps more interesting for me at least is the news that there is a growing mass of short positions being built against the Euro in the expectation that the Euro is ready for a substantial fall. That combined with news that the Swiss Franc is to be devalued leads me to think that the Pound is not as badly off as one might think, not good but not that bad either.

where, pray tell, do i find these kind of interesting news?

[chiang mai]

Is there evidence that the UK will produce goods and increase their exports to be higher then their imports? Is there evidence that the UK will spend less and save more to be able to pay off their debts?

But perhaps more interesting for me at least is the news that there is a growing mass of short positions being built against the Euro in the expectation that the Euro is ready for a substantial fall. That combined with news that the Swiss Franc is to be devalued leads me to think that the Pound is not as badly off as one might think, not good but not that bad either.

where, pray tell, do i find these kind of interesting news?

The news about the Swiss Franc emerged mid week and was discussed at length in either the Telegraph or The Times, unsure. The following quote is from Reuters:

"The Swiss franc fell to a near three-month low against the euro, after its biggest ever one-day drop against the single currency on Thursday on news the Swiss National Bank sold francs to halt deflation.

The move left some analysts wondering if it was the first shot in a currency war for trade competitiveness".

The article in question suggested that a currency depreciation war was due/underway.

As for Brits being better savers than borrowers these days: that was also from one of the two British papers listed above and appeared many weeks ago and was an extract from a report by the Building Societies Association, if I can find it I will post it.

[Naam]

Is there evidence that the UK will produce goods and increase their exports to be higher then their imports? Is there evidence that the UK will spend less and save more to be able to pay off their debts?

But perhaps more interesting for me at least is the news that there is a growing mass of short positions being built against the Euro in the expectation that the Euro is ready for a substantial fall. That combined with news that the Swiss Franc is to be devalued leads me to think that the Pound is not as badly off as one might think, not good but not that bad either.

where, pray tell, do i find these kind of interesting news?

The news about the Swiss Franc emerged mid week and was discussed at length in either the Telegraph or The Times, unsure. The following quote is from Reuters:

"The Swiss franc fell to a near three-month low against the euro, after its biggest ever one-day drop against the single currency on Thursday on news the Swiss National Bank sold francs to halt deflation.

The move left some analysts wondering if it was the first shot in a currency war for trade competitiveness".

The article in question suggested that a currency depreciation war was due/underway.

As for Brits being better savers than borrowers these days: that was also from one of the two British papers listed above and appeared many weeks ago and was an extract from a report by the Building Societies Association, if I can find it I will post it.

i strongly beg to differ especially because "devaluation" was mentioned in the earlier posting. "analysts wondering" suggests a "currency depreciation" is speculation.

[JimsKnight]

IMHO the Pound will loose even more against the Dollar and the Euro. The devaluation was simply because Britain has no more important production like the Euro zone and the US. The British simply bet on the wrong horse when they switched from production to the banking sector. Everywhere where there is a strong banking sector they are hurt the most if they don't have a strong back up like Switherland or Singapure. The UK nearly sold all their gold reserves a couple of years ago for very small money. If the Uk would have joined the Euro it would have been feathered up by the other countries of the European Union.

It can happen as well that the Dollar and the Euro go down but then the pound will follow the same way.

AFAIK Not 'almost all the gold was sold', about 60% was flogged at fire-sale prices by 'golden' Gordon Brown!

We still have 40% left.

Edited March 14, 2009 by JimsKnight

[chiang mai]

Something not quite right with the ability to quote and respond, hence, this post in response to Naam's lat post:

In which case you must beg less strenuously because the terms "devaluation" and "depreciation" broadly imply the same measure, but let's not get caught up in semantics here, the Swiss currency is reducing in value and the race is now on to see which one reaches a floor closest to the Pound first.

[sanmiguel]

As for Brits being better savers than borrowers these days: that was also from one of the two British papers listed above and appeared many weeks ago and was an extract from a report by the Building Societies Association, if I can find it I will post it.

I believe that more are paying their debts off (read it from a decent source recently..i forget where). With interest rates now at next to nothing and with probable high rates of inflation just around the corner the government are making sure people will no longer save, so we can invest it in Gordons new economy i.e. Imported goods in Shopping Malls.

Ive been a saver for the last several years as ive been waiting for property to crash, this very healthy nest egg is going to be spent in the next year buying a property as i'm worried it'll be eaten up by inflation, and i dont think property is going to crash as much as i anticipated ......... im sure many are thinking in a similar fashion.

[sanmiguel]

Something not quite right with the ability to quote and respond, hence, this post in response to Naam's lat post:

In which case you must beg less strenuously because the terms "devaluation" and "depreciation" broadly imply the same measure, but let's not get caught up in semantics here, the Swiss currency is reducing in value and the race is now on to see which one reaches a floor closest to the Pound first.

Strange goings on with the Swiss theyre banking industry is about to become less secretive -

http://www.thisismoney.co.uk/investing-and...=moretopstories

Along with their govt devaluing their currency -

http://www.rferl.org/content/Switzerland_B...cy/1509618.html

They must be deeper in the sh7t then theyve let on so far.

[lannarebirth]

Something not quite right with the ability to quote and respond, hence, this post in response to Naam's lat post:

In which case you must beg less strenuously because the terms "devaluation" and "depreciation" broadly imply the same measure, but let's not get caught up in semantics here, the Swiss currency is reducing in value and the race is now on to see which one reaches a floor closest to the Pound first.

Strange goings on with the Swiss theyre banking industry is about to become less secretive -

http://www.thisismoney.co.uk/investing-and...=moretopstories

Along with their govt devaluing their currency -

http://www.rferl.org/content/Switzerland_B...cy/1509618.html

They must be deeper in the sh7t then theyve let on so far.

There is an incredible amount of Eastern European debt denominated in CHF. Local currencies have been plunging of late and more and more borrowers would appear to be unable to service the CHF denominated debt. Hadn't heard about the "devaluation", but it makes sense.

[sanmiguel]

There is an incredible amount of Eastern European debt denominated in CHF. Local currencies have been plunging of late and more and more borrowers would appear to be unable to service the CHF denominated debt. Hadn't heard about the "devaluation", but it makes sense.

I used to sell property in Bucharest, and many of the mortgages were in CHF at interest rates of about 10% for property that was the most overpriced ive ever seen anywhere in the world in relation to the average wage, surely most of this will be written off.

[churchill]

Things must be serious IF the Swiss had to devalue their currency to help out Eastern Europe .