The Pound Is Strengthening

[MJP]

Youre clearly a commie who thinks the govt should keep on spending money they havent got, this is not Cameron or Cleggs fault .. but just to keep you happy they spent 16billion pound in the last month that they havent got .. thatll keep the kids of today happy to know theyre paying for economic illiterate baby boomers to run after farmers girls.

Sorry to disappoint you,I have never been a "Commie" and never will be.

And if the Baby Boomers want to spend their hard earned Pensions running after Farmers girls,then its up to them,how they spend their money,.

After working 40 years plus,paying their Taxes and National Insurance, they owe the kids of today nothing.

Surely you don't begrudge them from having a little fun in their twilight years?

If you think the govt should keep on spending money they havent got youre either a socialist of the worst order or economically illiterate.

But its those born after the 2nd WW that have had a trillion pound spent on their retirement that those leaving school now are going to pay for, your generation havent paid enough into the system as to what youre taking out. The profit on your property will be getting paid for by kids born today a nice scam set up by your generation.

Well make your mind up!

First I was a "Communist ",now I'm a "Socialist"

Seems like your anger stems from probably having to pay for your own Private Pension, and seems like you don't own your own House.And no doubt you are too Young to contemplate all those years of hard work ahead of you.

Obvious you are a Typical Tory who has missed out on,making your fortune, and now is full of jealousy,for the Generations that worked hard,paid their dues,and now have their place in the Sun.

I say,Good Luck to them,maybe you can work as hard for all of your working life and join them one day. But I doubt you will ever get the point.

You seem to choose to forget too much in your viewpoints.

"We live in a Captialist Society"

1. The Generation you are talking about,paid into the Pension System,through NI Contributions (not to mention Taxes) so that the elder generation could have their comfortable Retirement, i.e the money got paid in,and the Pensioners drew their Pensions out, as set up,after the Second World War. Its not the Pensioners of todays fault that this may not continue,in its present form.

The original Pension Scheme was ill conceived in the first place, i.e money was paid in by those working,and Pensions were drawn out by those that were Retired,and with no Investment for long term growth. (most likely Criminal if a Private Company was to do the same today)

Our Generation was proud to pay for our Retirees Restful Years,and certainly,didn't whinge about it, we just did it!

2. The Capitalist system brought about ,high house prices, and the large increases over the years,with no control by the "Baby Boomer" Generation, so after a period of decades,struggling to pay a Mortgage,and not using cheaper Public Accomodation (Council Housing) years later,it was worth more than it was initially. All brought about by "Market Forces" (as Thatcher was so fond of quoting) Oh! and by the way,it was her vote buying that sold off most of our Council Housing stock,at a vastly reduced price,shrewd political move, eh?

So why blame people for Capitialising on their hard earned assets, what are they supposed to do? give the profits back to the (for the most part) feckless youth of today?

Now if you really want to have a whinge about something intrinsic to the Financial meltdown, try the Paper Shuffling Greedy Banking System.

Oh! can I be a Liberal in future?

We kind of do here. But certainly not in the UK. If the UK was capitalist there would have been no bailouts, no QE, no 'homeowner support', no career welfare option. It is and has been for decades, a socialist state and a corrupt one at that (I'd much appreciate Theycallmescooters input on this bit). Not pleasant for those of us that worked (brutally hard in tough businesses) only to be sold out on just about every front.

All politicians buy votes and this is at the absolute heart of the UK's problems which have been brewing for years. The last boom under Labour resulted in a national mental illness. Adults regressed to the mental state of spoilt children, there was no reality about the place at all.

Mental state.

[Englander]

Seems like your anger stems from probably having to pay for your own Private Pension, and seems like you don't own your own House.And no doubt you are too Young to contemplate all those years of hard work ahead of you.

I dont own a home as theyre ridiculously priced 200k for a 60m2 2 bed flat in an average area, im now back in Blighty after many years away and no one will rent to me as ive a kid (so babyboomers buy rental homes for pensions and wont rent them to people with family's) ... you ask me if im angry about the housing crisis fcuken right i am. Your age group have no idea what its like for those with average jobs who didnt buy in the boom, its nothing less then a national disaster. ( there are no council houses to fall back on, not that id live)

Obvious you are a Typical Tory who has missed out on,making your fortune, and now is full of jealousy,for the Generations that worked hard,paid their dues,and now have their place in the Sun.

I say,Good Luck to them,maybe you can work as hard for all of your working life and join them one day. But I doubt you will ever get the point.

Never voted Tory, theyre as in to taxing and spending like the last lot, well almost ......But im mid 30s and i made a fortune selling property in the overseas market (the irony), i now work in the oil game and earn a very good salary so my money making ability and willingness to do what work is necessary cant be in question ... Also i just moved back from Thailand through choice i didnt need to wait until old age.

"We live in a Captialist Society"

In many areas the govt employs 40% of the workforce, and bails out banks and homeowners, its not capitalist, besides Britain has cross the line socially into becoming a soft police state.

2. The Capitalist system brought about ,high house prices, and the large increases over the years,with no control by the "Baby Boomer" Generation,

No it didnt it is a Ponzi scheme that is now propped up by the state via QE and 0% interest rates that was initially funded by never ending lines of credit, and restrictive planning laws ... it couldnt be further from capitalist.

So why blame people for Capitialising on their hard earned assets, what are they supposed to do? give the profits back to the (for the most part) feckless youth of today?

You are the one saying the governement should keep on spending money it hasnt got, yet you call the Youth of the day feckless!

But no enjoy your profits in the sun but just remember your generation and the one before have fcuked the country up big time and run off with all the loot leaving your grandkids to sweep up the mess.

PS if you go to Ex Communist nations the communist parties are politely called socialist.

PPS I did reply to all most your points but had to delete them as i used too many quote boxes.

Edited January 27, 2011 by Englander

[Ricardo]

Also, Quantitative Easing II soon to set sail. Here she is in all her glory.

Surely she's the 'S.S. Titanic', not the 'QE2' ? Dive, Dive, Dive !

[MJP]

Also, Quantitative Easing II soon to set sail. Here she is in all her glory.

Surely she's the 'S.S. Titanic', not the 'QE2' ? Dive, Dive, Dive !

At some point the bond markets scuttle her.

[tvaddict]

I'm not an economist but from my understanding it seems the following (below) is true...

and so I'm asking those more informed than I for predictions

with all the various factors at play what will actually happen to the exchange rate this year?

THB v GBP

in the UK...

austerity measures just starting to hurt

reduced consumer confidence

0.5 % GDP contraction last quarter

high chance of double dip recession

inflation rising

temptation to raise interest rates to curb inflation but fear of further contraction

in Thailand....

GDP last year at record high growth

4% GDP growth prediction for 2011

consumer confidence high

inflation rising too fast

likely interest rate rise

political social troubles ahead

oil prices likely to rise this year

so where will it go by mid year -say July 2011

my prediction - 45

I ask as this week has seen a dramatic rise form 46 to 49 and It's puzzled me!

predictions please?

[Forkinhades]

85

[MJP]

85

[bartender100]

The moment i see B50 i am bringing some cash over from the UK. Much better than i had planned for.

[MJP]

The moment i see B50 i am bringing some cash over from the UK. Much better than i had planned for.

Jim Rogers and George Soros are probably thinking exactly the same thing.

[Englander]

in the UK...

austerity measures just starting to hurt

Austerity measures have been greatly exaggerated, theyre taking us back to 2008 levels of public spending, after this it was just Broony the loony going on a mass spending spree to bribe the voter.

Theyll still be spending 50% of GDP whilst taking 41% of GDP in tax ... im no mathematician but those 2 numbers dont cancel each other out .. looks like we are in it for the long haul.

Edited January 30, 2011 by Englander

[inmysights]

Dont hold your breath on a large rise in GBP to Baht exchange rate,after all it is a Seasonal Adjustment.

Right now we are coming to the end of the Thai Peak Holiday season,and as usual the Pound seems to strengthen,but in fact,there is less revenue from Tourism,so less need for Baht Manipulation,by the BOT.

I dont see the slight rise in the £ to Baht exchange rate, as a sign that the British Government is doing much to overcome the UK financial difficulties with only one Policy,so im not surprised at the latest lack of recovery figures.

i.e.... Reduce Goverment Spending,especially for those unfortunates who have to live on Public Benefits.

'a commie' LOL!

Cut/ Cameron and Slash/ Clegg are aptly named,thats the sum total of their idea of a positive effect on long term recovery,......Cut & Slash and nothing but talk of penalising the greedy Banks,up to now.

Sigh, Its the same old story I have heard from Politicians all my life,the Big Guys F*** up and the little Guys pick up the checkbin.

Youre clearly a commie who thinks the govt should keep on spending money they havent got, this is not Cameron or Cleggs fault .. but just to keep you happy they spent 16billion pound in the last month that they havent got .. thatll keep the kids of today happy to know theyre paying for economic illiterate baby boomers to run after farmers girls.

'a commie' LOL! You a Septic'? :)Oh just spotted your nik. You a Limey/Septic wannabe?

Edited January 31, 2011 by inmysights

[MJP]

Dont hold your breath on a large rise in GBP to Baht exchange rate,after all it is a Seasonal Adjustment.

Right now we are coming to the end of the Thai Peak Holiday season,and as usual the Pound seems to strengthen,but in fact,there is less revenue from Tourism,so less need for Baht Manipulation,by the BOT.

I dont see the slight rise in the £ to Baht exchange rate, as a sign that the British Government is doing much to overcome the UK financial difficulties with only one Policy,so im not surprised at the latest lack of recovery figures.

i.e.... Reduce Goverment Spending,especially for those unfortunates who have to live on Public Benefits.

'a commie' LOL!

Cut/ Cameron and Slash/ Clegg are aptly named,thats the sum total of their idea of a positive effect on long term recovery,......Cut & Slash and nothing but talk of penalising the greedy Banks,up to now.

Sigh, Its the same old story I have heard from Politicians all my life,the Big Guys F*** up and the little Guys pick up the checkbin.

Youre clearly a commie who thinks the govt should keep on spending money they havent got, this is not Cameron or Cleggs fault .. but just to keep you happy they spent 16billion pound in the last month that they havent got .. thatll keep the kids of today happy to know theyre paying for economic illiterate baby boomers to run after farmers girls.

'a commie' LOL! You a Septic'? :)Oh just spotted your nik. You a Limey/Septic wannabe?

Again, in English this time please.

[Englander]

Dont hold your breath on a large rise in GBP to Baht exchange rate,after all it is a Seasonal Adjustment.

Right now we are coming to the end of the Thai Peak Holiday season,and as usual the Pound seems to strengthen,but in fact,there is less revenue from Tourism,so less need for Baht Manipulation,by the BOT.

I dont see the slight rise in the £ to Baht exchange rate, as a sign that the British Government is doing much to overcome the UK financial difficulties with only one Policy,so im not surprised at the latest lack of recovery figures.

i.e.... Reduce Goverment Spending,especially for those unfortunates who have to live on Public Benefits.

'a commie' LOL!

Cut/ Cameron and Slash/ Clegg are aptly named,thats the sum total of their idea of a positive effect on long term recovery,......Cut & Slash and nothing but talk of penalising the greedy Banks,up to now.

Sigh, Its the same old story I have heard from Politicians all my life,the Big Guys F*** up and the little Guys pick up the checkbin.

Youre clearly a commie who thinks the govt should keep on spending money they havent got, this is not Cameron or Cleggs fault .. but just to keep you happy they spent 16billion pound in the last month that they havent got .. thatll keep the kids of today happy to know theyre paying for economic illiterate baby boomers to run after farmers girls.

'a commie' LOL! You a Septic'? :)Oh just spotted your nik. You a Limey/Septic wannabe?

Come live in this totalitarian anti-tax haven where govt directs you at every stage ... youll see im right.

I was speaking to a Chinese lad who is doing a Phd in Chemistry at Huddersfield Uni and even he said he cant wait to get back to China as he feels he has more freedom their, and no fears of being beaten by feral youths for being nothing more offensive then a student.

[badge]

Its always the same cycle; left wing>right wing>left wing>right wing... in government of course

"The Pound Is Strengthening Interest rates to rise in Britain?"

No. No time soon at least.

The front end of the yield curve unequivocally sets CBs base rates, and right now short term UK treasury notes are almost suggesting a mere 0.25% rate hike, in no sooner than 9 months.

[Englander]

Its always the same cycle; left wing>right wing>left wing>right wing... in government of course

Its left wing then further left then left again and so on. Just see how tax has risen since the turn of the 20th Century, you an find links on google .. it confirms my statement above.

[thaimate]

Its always the same cycle; left wing>right wing>left wing>right wing... in government of course

"The Pound Is Strengthening Interest rates to rise in Britain?"

No. No time soon at least.

The front end of the yield curve unequivocally sets CBs base rates, and right now short term UK treasury notes are almost suggesting a mere 0.25% rate hike, in no sooner than 9 months.

The latest news is that interest rates almost certain to rise in may and be at 1.25% by years end , Boe making the right noises for once.

[MJP]

Its always the same cycle; left wing>right wing>left wing>right wing... in government of course

"The Pound Is Strengthening Interest rates to rise in Britain?"

No. No time soon at least.

The front end of the yield curve unequivocally sets CBs base rates, and right now short term UK treasury notes are almost suggesting a mere 0.25% rate hike, in no sooner than 9 months.

The latest news is that interest rates almost certain to rise in may and be at 1.25% by years end , Boe making the right noises for once.

Your 52 is looking good. But they need to raise rates in a timely fashion and that window is surely closing.

[bartender100]

Universal Currency Converter

1.00 GBP = 50.0312 THB

First time over 50 for a long time

[chiang mai]

Its always the same cycle; left wing>right wing>left wing>right wing... in government of course

"The Pound Is Strengthening Interest rates to rise in Britain?"

No. No time soon at least.

The front end of the yield curve unequivocally sets CBs base rates, and right now short term UK treasury notes are almost suggesting a mere 0.25% rate hike, in no sooner than 9 months.

I'm with Badge on this point plus I don't see 50+ lasting very long at all, sorry.

[Naam]

Universal Currency Converter

1.00 GBP = 50.0312 THB

First time over 50 for a long time

Thai banks don't use "Universal Currency Converter" when converting transfer into Thai Baht... and neither do they use "xe.com" which is often mentioned here.

:jap:

[The Philosopher]

The pound's fortunes will be tied closely to expectations of a first rate hike from the long-standing record low of 0.5%. And they in turn will be tied to the progress of the UK's economic recovery and the course of inflation data.

Most economists and the markets are pricing in a small rate hike late in the year - but unexpectedly high growth and / or inflation could see a move before then.

The eurozone debt crisis is a double-edged sword for sterling: it will keep the euro weak but also dampens European demand for UK exports and therefore endangers the British economic recovery.

It would also disturb the financial markets and continue the flight of investors to the safety of the dollar. But a third round of quantitative easing from the Fed would limit the dollar's strength.

In a survey of City analysts by Hargreaves Lansdowne, forecasts for the pound at the end of 2011 ranged from €1.05 to €1.35, with the majority predicting the pound would rise above €1.25.

Versus the dollar, forecasts ranged from $1.40 to $1.80, with 36% predicting the pound will make progress above US$1.60 and an equal proportion expecting sterling to slip back below US$1.50. The remaining 27% predict sterling will stay in the $1.50-$1.60 range.

Read more: http://www.thisismoney.co.uk/news/special-reports/article.html?in_article_id=520374&in_page_id=108#ixzz1CtwpYvfl

[chiang mai]

Versus the dollar, forecasts ranged from $1.40 to $1.80, with 36% predicting the pound will make progress above US$1.60 and an equal proportion expecting sterling to slip back below US$1.50. The remaining 27% predict sterling will stay in the $1.50-$1.60 range.

Read more: http://www.thisismoney.co.uk/news/special-reports/article.html?in_article_id=520374&in_page_id=108#ixzz1CtwpYvfl

Which is a bit like guessing that the sun will rise and set, somewhere between the hours of 03:00 and 21:00!

[blake911]

The pound strengthened gradually for a month to over 50 and suddenly dived last night back to 47.5.....was this an error on Google Currency Coverter or is there an explanation? As I live and work in Thailand and send money back to my UK bank account this is good news for me but I realise it's bad for tourism which could affect my career in the long term. The pound / baht seems to fluctuate so much I think I'll negotiate my next contract in US dollar. Can't see the rate dropping much below 30.

[makescents]

The pound strengthened gradually for a month to over 50 and suddenly dived last night back to 47.5.....was this an error on Google Currency Coverter or is there an explanation? As I live and work in Thailand and send money back to my UK bank account this is good news for me but I realise it's bad for tourism which could affect my career in the long term. The pound / baht seems to fluctuate so much I think I'll negotiate my next contract in US dollar. Can't see the rate dropping much below 30.

Yahoo and XE say 49, although it's Bangkok Bank you should check when wiring in money which is 48.98.

[skybluestu]

Lets hope they raise the interest rates tomorrow!

http://uk.finance.yahoo.com/news/Forex-focus-sterling-turns-tele-3345900371.html

[12DrinkMore]

Lets hope they raise the interest rates tomorrow!

http://uk.finance.ya...3345900371.html

Dream on, Merv will be doing another "copy and paste" job on his previous letters to explain why inflation is currently above the 2% goal, but is expected to succumb to deflationary pressures in the next twelve months.

There are two massive issues that Merv has on his shoulders.

1. The holy "Great British House Price", which cannot, under any circumstance, be allowed to suffer sudden deflation. A sloooow decline is sooooo much more preferable. Otherwise the peeps might become more than a little upset at their "investment" cum "supplemental income stream" cum "pension" loosing its entire value.

2. The UK banks have to dish out another round of huge bonuses, otherwise all that "talent" might desert the hallowed square mile of London's financial district. The best way of keeping those fuc_kers happy is to keep supplying them with an endless amount of interest free money, paid for by the UK taxpayer, to speculate, creating and maintaining bubbles in the "fantasy world" of finance.

You see, the underlying issues have NOT changed abd so there will be no change in the MPC decision. Hold the rates at the current level.

And read it here for the first time.

The banks have to "rebuild their balance sheets" after the financial debt driven crisis. Now, how do you suppose the fuc_kers can rebuild a balance sheet, where is the money supposed to come from? Look in the mirror and you will cotton on very quickly. Yep, got it in one, so bend over a bit further and they'll stuff it further up yer arse.

Edited February 9, 2011 by 12DrinkMore

[MJP]

Lets hope they raise the interest rates tomorrow!

http://uk.finance.ya...3345900371.html

Dream on, Merv will be doing another "copy and paste" job on his previous letters to explain why inflation is currently above the 2% goal, but is expected to succumb to deflationary pressures in the next twelve months.

There are two massive issues that Merv has on his shoulders.

1. The holy "Great British House Price", which cannot, under any circumstance, be allowed to suffer sudden deflation. A sloooow decline is sooooo much more preferable. Otherwise the peeps might become more than a little upset at their "investment" cum "supplemental income stream" cum "pension" loosing its entire value.

2. The UK banks have to dish out another round of huge bonuses, otherwise all that "talent" might desert the hallowed square mile of London's financial district. The best way of keeping those fuc_kers happy is to keep supplying them with an endless amount of interest free money, paid for by the UK taxpayer, to speculate, creating and maintaining bubbles in the "fantasy world" of finance.

You see, the underlying issues have NOT changed abd so there will be no change in the MPC decision. Hold the rates at the current level.

And read it here for the first time.

The banks have to "rebuild their balance sheets" after the financial debt driven crisis. Now, how do you suppose the fuc_kers can rebuild a balance sheet, where is the money supposed to come from? Look in the mirror and you will cotton on very quickly. Yep, got it in one, so bend over a bit further and they'll stuff it further up yer arse.

Seen 'Project Merlin'? It's the stuff of revolution to be honest.

Seen the trade deficit . . . 9.25Bn quid last month! Just keeps getting wider. It's all part of the manufacturing export led recovery see.