Pound Sterling

[Zstarx]

There will be another general election within 12 months,the Lib/Dem vote will collapse trhen a clear cut result,tories in

I agree, the Tories will find their way in, whether thats a good thing or not I don't know.

Surely they couldn't do any worse

[RabC]

Just be glad you government (or really the people) had the sense to stay out of the Euro zone!!! Look for the Euro - Dollar rate to go to parity within 6 months.

But I really pitty the German expats and visitors to TL...hoodwinked by the French and their own politicians a decade ago to give up their Deusch Marks for the Euro, and link their economic future with a bunch of speed-thrift nations like Greece and Spain (and Italy for that matter). There could easily be a trillon-euro bailout of the southern European countries coming in a few months time...financed by the only ones with any money...the Germans!

Dont ever feel sorry for the Germans or French the whole EU debacle is down to both of them. They are now seeing their just reward for their Federal Europe Ideals and I really hope they choke on it.

[chiang mai]

Interesting how the markets behave, the Pound was falling quite heavily against USD and reached a low of 1.44 as news that a hunh Parliament was confirmed. Then Nick Clegg made the anouncement that he thought that the Conservatives should be the first party given a chance to form a government (with the Lib/Dems) and instantly, the Pound reversed and gained two cents and has continued to rise since, easy to see what the markets want to have happen and what will happen to the Pound if the Cons. and Lib/Dems do a deal, whoosh, stellar.

[patrickinpattaya]

There will be another general election within 12 months,the Lib/Dem vote will collapse trhen a clear cut result,tories in

I agree, the Tories will find their way in, whether thats a good thing or not I don't know.

Surely they couldn't do any worse

I'm not so sure, big businesses may be better off but what about the smaller businesses like mine! out of our hands now. Moving to Thailand seems more like an option for me at the moment.

[chiang mai]

There will be another general election within 12 months,the Lib/Dem vote will collapse trhen a clear cut result,tories in

I agree, the Tories will find their way in, whether thats a good thing or not I don't know.

Surely they couldn't do any worse

I'm not so sure, big businesses may be better off but what about the smaller businesses like mine! out of our hands now. Moving to Thailand seems more like an option for me at the moment.

Funny how we all have different experiences, I started a small business in the UK in 1989 which subsequently thrived under a Tory government. It was only when Labour came to power later that I started to get squeezed and moved it and me East to Hong Kong, granted by that time the business was no longer small, but it wasn't big either. My experience of operating a business under Labour was that they were prepared to sacrifice my growth for their revenue and I was never happy where the money was going.

[patrickinpattaya]

Your right, we all have differant experiences and opinions. I've never worked under a Tory government so it's unkonown ground for me personally. I suppose knowledge dispells fear, I'll have a better understanding next time round.

[wileycoyote]

I think that things will get better from Monday:

If Angela Merkel wins her election in Rhine-West Phalia

David Cameron goes to the Queen to ask permission to form a government,but it will takes agaes to get back up to decent rate of exchange to the baht

[Spalpeen]

Hopefully. I have debts in UK and earn Baht. Dropping pound is great for me!

This is the reason why Sterling is about to bomb. The UK government owes vast amounts of money and all of its' debt is denominated in Sterling. It also pays huge amounts of interest, also in Sterling. The whole point of staying out of the Euro is that the UK govt. retains the option of devaluing the currency. A large part of the Greek problem is that they should be devaluing now but they can't because they're in the Euro.

Once the dust settles on the election whoever is in government will start to aggressively sell Sterling and buy other currencies. This drives down the size of the debt. Inflation will be allowed to rise because this also shrinks the debt. Meanwhile a devalued pound makes imports more expensive, reducing the balance of payments deficit, and at the same time makes UK exports cheaper and therefore more competitive.

The only reason this hasn't happened already is that no one wanted to rock the boat before the election. The UK is in just as much trouble as Greece but the UK has retained its' AAA credit rating because the markets understand that the UK has the option of devaluing.

The pound is going to bomb. It's a no brainer. 1GBP/40THB within three months.

[chiang mai]

Hopefully. I have debts in UK and earn Baht. Dropping pound is great for me!

This is the reason why Sterling is about to bomb. The UK government owes vast amounts of money and all of its' debt is denominated in Sterling. It also pays huge amounts of interest, also in Sterling. The whole point of staying out of the Euro is that the UK govt. retains the option of devaluing the currency. A large part of the Greek problem is that they should be devaluing now but they can't because they're in the Euro.

Once the dust settles on the election whoever is in government will start to aggressively sell Sterling and buy other currencies. This drives down the size of the debt. Inflation will be allowed to rise because this also shrinks the debt. Meanwhile a devalued pound makes imports more expensive, reducing the balance of payments deficit, and at the same time makes UK exports cheaper and therefore more competitive.

The only reason this hasn't happened already is that no one wanted to rock the boat before the election. The UK is in just as much trouble as Greece but the UK has retained its' AAA credit rating because the markets understand that the UK has the option of devaluing.

The pound is going to bomb. It's a no brainer. 1GBP/40THB within three months.

So much nonesence, do you have these dreams often.

[ESB7]

Interesting how the markets behave, the Pound was falling quite heavily against USD and reached a low of 1.44 as news that a hunh Parliament was confirmed. Then Nick Clegg made the anouncement that he thought that the Conservatives should be the first party given a chance to form a government (with the Lib/Dems) and instantly, the Pound reversed and gained two cents and has continued to rise since, easy to see what the markets want to have happen and what will happen to the Pound if the Cons. and Lib/Dems do a deal, whoosh, stellar.

Cofidence and patience

[Thongkorn]

I think a lot of the UK problems stem from the EEC, being told from France and Germany sorry the EEC, We must do this we must do that, We must except people from other parts of the EEC, And subsidise them on benefits. It does not matter who is in Government when you Dont have control of your borders along with a lot of other laws forced upon the UK, This is not an excuse for the UK just one of the big problems of the UK, It is a good job that the UK is not in the Euro monetary Zone because watch as a few more country's go Greek. Spain, Portugal, Ireland,Then there is the new members who want there piece of cake,So the UK money about to bomb does not look so bad, Give it a few months and the £ will be back. I have seen other rescission and a hung parliament before and the UK is still about 5th in the world economy's list, Most of the unsettled markets are just jittery as expected.

[ESB7]

The word on the Wharfe is dump Euros and it is already trading at just plus of 40 baht, £ is set to benefit

[Spalpeen]

Hopefully. I have debts in UK and earn Baht. Dropping pound is great for me!

This is the reason why Sterling is about to bomb. The UK government owes vast amounts of money and all of its' debt is denominated in Sterling. It also pays huge amounts of interest, also in Sterling. The whole point of staying out of the Euro is that the UK govt. retains the option of devaluing the currency. A large part of the Greek problem is that they should be devaluing now but they can't because they're in the Euro.

Once the dust settles on the election whoever is in government will start to aggressively sell Sterling and buy other currencies. This drives down the size of the debt. Inflation will be allowed to rise because this also shrinks the debt. Meanwhile a devalued pound makes imports more expensive, reducing the balance of payments deficit, and at the same time makes UK exports cheaper and therefore more competitive.

The only reason this hasn't happened already is that no one wanted to rock the boat before the election. The UK is in just as much trouble as Greece but the UK has retained its' AAA credit rating because the markets understand that the UK has the option of devaluing.

The pound is going to bomb. It's a no brainer. 1GBP/40THB within three months.

So much nonesence, do you have these dreams often.

Yes. So often in fact that I've made enough money from spreadbetting on Forex over the last ten years to retire early from my day job and live a comfortable life in Thailand. I shifted my stash here three years ago and got 67 to the pound. Now I would need to pay just 47 to get it back. That's a result.

Look at www.igindex.co.uk if you are interested in this sector.

(P.S. "Nonsense" not nonesence)

[jori]

It's akin to being a pauper in a foreign land.What was historically a cheap destination to visit and live in now is the reverse,I am not prepared to have to run to virtually stand still financially,there are many other places that offer far more value to live in than Thailand.

Everyone seems to be sleepwalking to a financial disaster.The pound will be in the Baht 30s before long.

[raro]

the forum for the armchhair greenspans is here...http://www.thaivisa.com/forum/Jobs-economy-banking-business-i-f13.html

topic moved