Pound Starting To Stenghen.

[jerseyjim]

Have you legally agreed to the purchase? 4.25m is a lot for a house up there, must be a big one.

Don't know. It's too big a decision for me.

Help please! I am about to buy a house that we have been renting up in CM. Can any finance experts advise whether I should bite the bullet and buy now, or continue to rent for the next few months and delay the purchase, perhaps until after the UK election? I would be sending the money in Sterling. Property is Baht 4.25m. Thank you in anticipation.

Thanks. I am happy with the value. Big enough

[jerseyjim]

Help please! I am about to buy a house that we have been renting up in CM. Can any finance experts advise whether I should bite the bullet and buy now, or continue to rent for the next few months and delay the purchase, perhaps until after the UK election? I would be sending the money in Sterling. Property is Baht 4.25m. Thank you in anticipation.

I'm hard pressed to see GBP/THB get any stronger than it is at present in the short to medium term, as you're aware it is falling at present and it may well continue to do so for some time. Having said that, if you make your exchange now and buy your house you will likely show a paper profit on the exchange rate in a few months time as GBP/USD reaches its low point. But if you're buying your home as a home and as a place to live for many years, by the time you go to sell the exchange rates will likely be very different and it's possible that in say five or ten years time, you will show a loss on the exchange rate - do you really care about that though, if you're buying a home and not an investment, buy the place, live in it and be happy.

Good advice thanks. I have decided to use a mortgage facility I've arranged in Thailand rather than all the cash I have got lined up from UK. Then if the situation changes for the better I can then pay the Thai loan off later in the year. Wishful thinking, perhaps

[Abrak]

Only if you were thinking about taking a trip to Zimbabwe, planning a holiday were you?

I think the point is that, economically speaking, if there is a race to the bottom and you are outrunning Zimbabwe, you clearly deserve some credit.

You should not forget that only a few months ago, Bernanke, was setting the lead and looked almost impossible to beat - now he is hardly a contender. To be honest, to depreciate your currency against the Zimbabwe dollar is an achievement that few finance ministers would even dream is possible let alone achievable.

And I hope you realize that Zimbabwe will probably have to react to this sort of insult by shooting a few more farmers....

[MJP]

Help please! I am about to buy a house that we have been renting up in CM. Can any finance experts advise whether I should bite the bullet and buy now, or continue to rent for the next few months and delay the purchase, perhaps until after the UK election? I would be sending the money in Sterling. Property is Baht 4.25m. Thank you in anticipation.

I'm hard pressed to see GBP/THB get any stronger than it is at present in the short to medium term, as you're aware it is falling at present and it may well continue to do so for some time. Having said that, if you make your exchange now and buy your house you will likely show a paper profit on the exchange rate in a few months time as GBP/USD reaches its low point. But if you're buying your home as a home and as a place to live for many years, by the time you go to sell the exchange rates will likely be very different and it's possible that in say five or ten years time, you will show a loss on the exchange rate - do you really care about that though, if you're buying a home and not an investment, buy the place, live in it and be happy.

Good advice thanks. I have decided to use a mortgage facility I've arranged in Thailand rather than all the cash I have got lined up from UK. Then if the situation changes for the better I can then pay the Thai loan off later in the year. Wishful thinking, perhaps

That's a brillant idea. Good luck with it and enjoy!

If you're decorating, I recommend Berger 100% Acryllic. The Dulux here is brutal money.

[MJP]

ZanuLiebor!

In truth however . . . the ZWD has been USDollarised / ZARandised. It doesn't exist as an independent entity any more.

Interestingly Zimbabweans have been complaining about food inflation in the US Dollar.

Zimbabwean food inflation

The cost of food for a family rose an incredible 10 percent last month, the Consumer Council of Zimbabwe found when it did its rounds last week checking prices of the common items that make up the monthly "basket" for a family of six.

Which suggests that with a falling pound the UK should be experiencing food inflation at above 10%/higher than Zimbabwe

[mommysboy]

Is that Terry Wogan in the picture?

[MJP]

Is that Terry Wogan in the picture?

[neil324]

All these lovely pictures, i see many posters go on HPC.

[MJP]

All these lovely pictures, i see many posters go on HPC.

Shhhh! They're doing all the work!

Do you really think I could do all this searching with an internet connection now running at 50kbps! It's hard enough.

[ChiangMaiFun]

19:42:14']

am I missing something?

The chart implies that you are now getting an ever decreasing number Zimbabwean Dollars for your Pound.

ah that explains it... useful...

Only if you were thinking about taking a trip to Zimbabwe, planning a holiday were you?

I was being sarcastic... <deleted> has Zimbabwe got to do with GBP vs. THB?

[MJP]

19:42:14']

am I missing something?

The chart implies that you are now getting an ever decreasing number Zimbabwean Dollars for your Pound.

ah that explains it... useful...

Only if you were thinking about taking a trip to Zimbabwe, planning a holiday were you?

I was being sarcastic... <deleted> has Zimbabwe got to do with GBP vs. THB?

Well, comment has been made that following an opinion poll in The Times showing Brown is in for a win (possibly), the markets would rather exchange Pounds for Zim Bucks, showing a greater confidence in Robert Mugabe than 'The Dear Leader'.

I found that quite amusing.

EDIT: Does anybody understand the

tag things on this forum? . . . I can't for the life of me make it work beyond about four or five posts.

[ChiangMaiFun]

Well, comment has been made that following an opinion poll in The Times showing Brown is in for a win (possibly), the markets would rather exchange Pounds for Zim Bucks, showing a greater confidence in Robert Mugabe than 'The Dear Leader'.

I found that quite amusing.

EDIT: Does anybody understand the

tag things on this forum? . . . I can't for the life of me make it work beyond about four or five posts.

Oh ok... and no i dont understand the quote tags either - bit arcane for me - if my post is not accepted I just delete some of it at the begining

[MJP]

Well, comment has been made that following an opinion poll in The Times showing Brown is in for a win (possibly), the markets would rather exchange Pounds for Zim Bucks, showing a greater confidence in Robert Mugabe than 'The Dear Leader'.

I found that quite amusing.

EDIT: Does anybody understand the

tag things on this forum? . . . I can't for the life of me make it work beyond about four or five posts.

Oh ok... and no i dont understand the quote tags either - bit arcane for me - if my post is not accepted I just delete some of it at the begining

Yes, that's what I do. I leave an unsightly mess.

Okay. How do we get rid of this lunatic Labour government and do Bungle and George actually have a plan?

[12DrinkMore]

EDIT: Does anybody understand the "quote" tag things on this forum? . . . I can't for the life of me make it work beyond about four or five posts.

They are quite easy. Here are the rules

1. They always come in pairs.

2. To open you use "quote" inside the square brackets [ ]

3. To close you use "/quote" inside the square brackets [ ]

4. The forum only allows you to include a maximum of four quotes in one post

[MJP]

EDIT: Does anybody understand the "quote" tag things on this forum? . . . I can't for the life of me make it work beyond about four or five posts.

They are quite easy. Here are the rules

1. They always come in pairs.

2. To open you use "quote" inside the square brackets [ ]

3. To close you use "/quote" inside the square brackets [ ]

4. The forum only allows you to include a maximum of four quotes in one post

That's what it is. There. In bold. That. Yes.

[teletiger]

Even to the staunchest of Labour supporters, the thought of another 5 years of Brown at the helm will be too much.

Didn't Kinnock go into the election with a big lead?

Next days headlines..."You didn't really think we'd vote in a ginger Welsh midget, did you?"

Hung parliament? Good idea. Hang 10 a day. Keep the public spirits up.

Regards.

[mommysboy]

Like many on this thread who feel that UK residents could do with a stint of hard 'production' in a factory or such like, I guess it's the service sector that really counts at present, hence good news:

http://www.telegraph.co.uk/finance/currenc...sion-fears.html

I am a Labour supporter by inclination, but first a patriot and a moderate. I don't think the Tories are effective at all. Labour may get in by default. It would be different if there was a Thatcher, etc, but there isn't, end of....

Also, and by the way, does anybody think that Brown's standing has gone up since the tough guy revelations? Personally, the thought of him grabbing one of these faceless bureaucratic twits (with an 'a') by the lapels gave me hope.

[MJP]

Like many on this thread who feel that UK residents could do with a stint of hard 'production' in a factory or such like, I guess it's the service sector that really counts at present, hence good news:

http://www.telegraph.co.uk/finance/currenc...sion-fears.html

I am a Labour supporter by inclination, but first a patriot and a moderate. I don't think the Tories are effective at all. Labour may get in by default. It would be different if there was a Thatcher, etc, but there isn't, end of....

Also, and by the way, does anybody think that Brown's standing has gone up since the tough guy revelations? Personally, the thought of him grabbing one of these faceless bureaucratic twits (with an 'a') by the lapels gave me hope.

No, I think Brown is and always has been unsuitable for public office.

That said, if you were to select individual MP's on the basis of suitability for government many would come from the Labour backbenchers/rebels.

You are right, Britain does need a Thatcher now. Bungle and George don't inspire any confidence at all. If you cleared all the crap out of the Labour Party, selected people like Frank Field and perhaps a few from the LibDems like Vince Cable . . . you might have a chance.

Edited March 3, 2010 by MJP

[MJP]

[MJP]

Oanda, FX 'Heat Map'.

[Abrak]

Oanda, FX 'Heat Map'.

Try 01/12/09 and look at THB.

[churchill]

Fitch says UK sovereign credit profile has deteriorated

■UK needs stronger fiscal adjustment

■UK and global outlook uncertain

■Among larger AAA sovereigns, urgency greatest for UK, Spain and France

■But UK still within tolerance of AAA rating

■Uncomfortable with fiscal adjustment path set out by UK authorities

Comments have pressured sterling, cable down at session low 1.4950.

http://www.forexlive.com/92353/all/fitch-s...as-deteriorated

[syd barrett]

GBP is fully expected to reach 1.20 GBP=1 US$ by the end of 2010

That would mean at current rates 1 GBP= 39 baht by the end of 2010

Source:

Saxo Bank

[chiang mai]

GBP is fully expected to reach 1.20 GBP=1 US$ by the end of 2010

That would mean at current rates 1 GBP= 39 baht by the end of 2010

Source:

Saxo Bank

Syd, you sound like me nine months ago, best be careful else they'll start referring to you as a doom monger.

But yes, sub 40 is going to be difficult to avoid, sadly.

[Bagwan]

There is to be a 'pause' in QE.

Let's see what happens when they stop printing and buying their own bonds to 'finance' the fantasy economy. I think they have created a 'black swan generator' . . . if you read Taleb.

Bond strike anyone? Followed by a currency collapse?

Who knows these days.

I am afraid to say you are correct. the UK economy has been built on sand since that traitor M Thatcher and her stooge Kieth Joseph sold the crown jewels, and the USA is not far behind !

Blair and Brown have been in power for how long? And if you are correct, have done nothing to change the situation?

Loss making industries were closed , and rightly so. No sense in propping them up as the country bleeds to death. Companies worldwide have shifted production to where costs are less than in house, but you can't move steel production, coal mines and ship building overseas. Rule No. 1 in business - if you can't make a profit, then don't do it.

Please give us another 12 years or so of so called Tory mis-rule.

BTW Scargill lived in a house worth more than 1 mil sterling 30 years ago that was in his wife's name. Some socialist.

[ChiangMaiFun]

GBP is fully expected to reach 1.20 GBP=1 US$ by the end of 2010

That would mean at current rates 1 GBP= 39 baht by the end of 2010

Source:

Saxo Bank

Syd, you sound like me nine months ago, best be careful else they'll start referring to you as a doom monger.

But yes, sub 40 is going to be difficult to avoid, sadly.

But if we go anywhere near 40 it's so damaging to the Thai economy - tourism etc. at least from England - I can seeing it dipping next year or two but not staying there for a decade

[chiang mai]

GBP is fully expected to reach 1.20 GBP=1 US$ by the end of 2010

That would mean at current rates 1 GBP= 39 baht by the end of 2010

Source:

Saxo Bank

Syd, you sound like me nine months ago, best be careful else they'll start referring to you as a doom monger.

But yes, sub 40 is going to be difficult to avoid, sadly.

But if we go anywhere near 40 it's so damaging to the Thai economy - tourism etc. at least from England - I can seeing it dipping next year or two but not staying there for a decade

The tourism contribution element from the UK is such a small number that it really won't matter or impact Thai GDP in a meaningful way, but I agree that ex-rates may not stay that low for a decade, or could they!

[12DrinkMore]

The tourism contribution element from the UK is such a small number that it really won't matter or impact Thai GDP in a meaningful way, but I agree that ex-rates may not stay that low for a decade, or could they!

Thailand is moving its focus towards Asian tourism. I am meeting more tourists from China, Singapore, Malaysia and Australia (which also counts as the Asian economy) than in previous years. But anyway tourism accounts for less than 10% of Thailand's GDP.

I wish I had more time for these forums, but there is a discussion going on about why the "surplus" nations (and Thailand is one of them) should allow their currency to appreciate against the "trade deficit" nations, such as the EUR, GBP and USD lot. I do not profess to be an expert and also find it very difficult to work out how the whole world's economy fits together, but this premise seem reasonable to support the argument that a continuation of the current situation, where basically the exporters are lending money to the importers so they can buy more good from the exporters, is untenable.

Currently Thailand is running a surplus, and, if you agree that this is not good for the long term, then you have to accept that either prices will rise or the THB will continue to appreciate, or both.

And, taking the UK as an example, to allow wages and prices to fall is total anathema to the government, which is very keen on pumping in some inflation to inflate off the debts, so further declines in the currency can only be expected. The question, if you agree with this, is how quickly will the GBP fall and to what level before inflation takes a hold and wages can rise in order to pay of the debts. Is this going to be a slow decline over years and years, or are we going to experience a series of downward 10% lurches, as indeed, we have been having?

Maybe all the UK supporters have left this forum, or the remaining ones have realised how bad the situation is and are no longer shouting for the GBP, but at the moment all the talk is that we will see THB 40 per Quid and MAYBE an improvement in a few years.

Hmmm, I just wonder whether this pessimistic stance, which would not long ago have been flamed, has been reluctantly accepted as the destiny of the Great British Pound.

Edited March 9, 2010 by 12DrinkMore

[teletiger]

BTW Scargill lived in a house worth more than 1 mil sterling 30 years ago that was in his wife's name. Some socialist.

The working class can kiss my arse, I'm a commissar at last.

Regards.

[whichschool]

Loss making industries were closed , and rightly so. No sense in propping them up as the country bleeds to death. Companies worldwide have shifted production to where costs are less than in house, but you can't move steel production, coal mines and ship building overseas. Rule No. 1 in business - if you can't make a profit, then don't do it.

But since our nation shut down the shipbuilding yards those minor economies known as France and Japan have managed to create huge profitable shipbuilding industries with the gap we left ... My father worked at Swan Hunters in the 60s70s80s and recently was in a position to find somewhere for the company he works for to get 2 ships built, he ended up getting them done in Holland as there were government subsidies making it financial suicide to get them made in England, when at this company he met some Geordie lads who said theyd done no work for several months, now as the company wasnt making money it made him wonder who was propping it up! ie the Dutch govt.

Dyson was making a profit in the UK he shipped it all overseas to make more profit ... what is your theory on this, whilst im a capitalist, im against globalists as its ruining our country and society.

PS The banks needed propping up recently in the long run this is in the benefit to the economy, maybe the now dead British industry just needed time to adjust.

Edited March 9, 2010 by whichschool