A Tired Old Subject I Know

[MJP]

Serious problems ahead for the British pound

Some seriously bad news in the past few days.

[saakura]

What are the credentials of the author? So many different theories being bandied about. While we should be careful and keep ourselves informed, one should not panic and go into a depression. This report is from someone who is promoting his book "How to profit from a collapsing dollar" and also linked to some kind of outfit selling gold bonds, so read the article from that perspective. Invest your savings, however modest, into a diversified portfolio.

[crazygreg44]

Invest into the BAHT, it s going up and up and no end in sight !!!!

[MJP]

Invest into the BAHT, it s going up and up and no end in sight !!!!

I know. I'm being an old doom monger.

I did actually, an awful lot when it was 76. In fact all of it back then when I was young, rich and in love. How times change, eh? I was never handsome.

Four things really.

1. Coalition looking dodgy with The Telegraph reporting Lib Dems (Edit: okay Vince Cable) threatening to collapse the coalition. Daily Telegraph reporters Holly Watt and Laura Roberts went undercover to find out what Vince Cable really thinks of the coalition.

2. This usual growth revision stuff . . . UK economic growth revised down versus this US economic growth revised up to 2.6% for third quarter

3. This horror! UK government borrowing hits record high

4. UK banks exposure to Ireland.

Only the threat of BoE IR's rising 6 fold (to a massive 3%!) within the next six months was it (?) might soften this a bit. If France is losing its AAA, how in the name of Daisy Duke does the UK keep its?

I do agree all currencies are in trouble including the Baht with the adverse effects of its strengthening on hotmoneybubbles^TM/exports in the east-west debt recycling model of GlowballiZation^TM blah de blah. Central Banks? You just can't find the staff these days.

Edited December 22, 2010 by MJP

[inthepink]

Erroneous post - sorry.

Edited December 22, 2010 by inthepink

[Naam]

Quid vs. Som Tam does not look good:

[thaimate]

So this guy was Saying that the dollor was going to collapse ,now he is saying it wont but the pound will , when he changes his mind again ,what will be the next to collapse?

[MJP]

So this guy was Saying that the dollor was going to collapse ,now he is saying it wont but the pound will , when he changes his mind again ,what will be the next to collapse?

I think he's saying the Pound will be the first to become actual toilet paper (Tesco Value of course), followed by USA Andrex.