Pound/Baht

[Naam]

The money being pledged to the IMF is to boost their bailout fund. Their role being to prop up/bail out the global economy. Consensus seems to be that next crises will stem from the Eurozone. Hence the conclusion being that any money pledged to IMF at present will be indirectly to prop up the Eurozone.

The US on the other hand has used the Euro Dollar swaps to finance the ECB and hence the Eurozone. This is reflected in no one batting an eyelid when the US didn't cough up or indeed sign the piece of paper in Washington at the IMF meeting.

Surely this (= the boost in IMF funding) is an indirect guarantee for the US money that has gone to Europe in the form of swaps. Because if the Euro and ECB slips then the IMF steps in and would in theory prop up the ECB allowing it to repay the Americans.

actual consensus is that we are already since four years in a crisis who's origins are not based on the present Eurozone problems. whether Greece or another one of the "PIIGS" make it, default or abandon the common currency won't be a tangible reason for a widening of the existing crisis and neither are Eurozone problems the reason that economic giants like the U.S. or Japan (as well as many others) have accumulated unsustainable public debt or that high-flying China might not have double digit growth rates for several years to come.

[thenervoussurgeon]

The only plausible reason I can find is that major banks and investors want to get out of the Euro. So maybe there is some kind of crisis afoot in the Eurozone.

http://www.telegraph...-save-euro.html

If we are then propping up the Euro to the tune of 10 billion and it seems banks etc maybe moving from Euro assets to GBP; it beggers the question as to whose money exactly we are lending them. Or more crudely have the government bribed entities to come and invest in GBP assets with their support to the Euro & IMF.with presumably the taxpayers money.

the 10bb UK is putting in the IMF collection box have nothing to do with propping up the €UR.

friendly advice: try to gather, compile and evaluate information from other sources than Telegraph and Daily Mail journàsslists.

If you belive that Naam ,you are not as smart as i thought , but then i believe you are German ,so as i believe a famous woman once said "well,he would say that wouldnt he"

[apetley]

I love optimists but prefer realists, the very best you can hope for at this stage of the procedings is low 50's, if you dig into it you'll see that 70 baht was unnatuarlly high and unsupportable hence, you will never, ever see 70's again.

12 years ago when the Baht collapsed the pound reached an amazing 140 and stayed there for a few months - 70's? Chicken feed, just hope the baht collapses gain!!!!!

Its never been near 140, closest was the mid 90's briefly in 1997.

Posted with Thaivisa App http://apps.thaivisa.com

[Naam]

I love optimists but prefer realists, the very best you can hope for at this stage of the procedings is low 50's, if you dig into it you'll see that 70 baht was unnatuarlly high and unsupportable hence, you will never, ever see 70's again.

12 years ago when the Baht collapsed the pound reached an amazing 140 and stayed there for a few months - 70's? Chicken feed, just hope the baht collapses gain!!!!!

did the Pound reach 140 Baht in the famous Hollywood movie "The Oklahoma Axe Murderer" or did you just make it up to get a reaction from Bendix or myself?

for the record: 12 years ago GBP's low vs. THB was 57.56 (may 24, 2000) and its high was 62.83 (dec 27, 2000).

[chiang mai]

I love optimists but prefer realists, the very best you can hope for at this stage of the procedings is low 50's, if you dig into it you'll see that 70 baht was unnatuarlly high and unsupportable hence, you will never, ever see 70's again.

12 years ago when the Baht collapsed the pound reached an amazing 140 and stayed there for a few months

Not on planet earth it didn't, 92 or 93 was the very brief low point and I refer to 1997 and the time of the crash.

Edited April 21, 2012 by chiang mai

[Naam]

If you belive that Naam ,you are not as smart as i thought , but then i believe you are German ,so as i believe a famous woman once said "well,he would say that wouldnt he"

let me tell you a secret... but don't tell anybody else please! i'm not as smart as the average Brit who spreads his/her economical wisdom in this forum. actually i'm not smart at all. my advantage is that i don't mind not being smart.

[Naam]

I love optimists but prefer realists, the very best you can hope for at this stage of the procedings is low 50's, if you dig into it you'll see that 70 baht was unnatuarlly high and unsupportable hence, you will never, ever see 70's again.

12 years ago when the Baht collapsed the pound reached an amazing 140 and stayed there for a few months

Not on planet earth it didn't, 92 or 93 was the very brief low point and I refer to 1997 and the time of the crash.

there was a day or two in january (i think it was 25th) 1998 when one could get 55.xx cash Baht for one Dollar and 97.xx for a Pound.

[Chivas]

I love optimists but prefer realists, the very best you can hope for at this stage of the procedings is low 50's, if you dig into it you'll see that 70 baht was unnatuarlly high and unsupportable hence, you will never, ever see 70's again.

12 years ago when the Baht collapsed the pound reached an amazing 140 and stayed there for a few months

Not on planet earth it didn't, 92 or 93 was the very brief low point and I refer to 1997 and the time of the crash.

there was a day or two in january (i think it was 25th) 1998 when one could get 55.xx cash Baht for one Dollar and 97.xx for a Pound.

I do recall that at that exact time there were huge differences between what banks were exchanging hard cash for.

I got 89.8 from I think City Siam at the time and when I got back down to Soi 8 guy was just saying that he had got 94+ from Thai Farmers.

[CRUNCHER]

The only plausible reason I can find is that major banks and investors want to get out of the Euro. So maybe there is some kind of crisis afoot in the Eurozone.

http://www.telegraph...-save-euro.html

If we are then propping up the Euro to the tune of 10 billion and it seems banks etc maybe moving from Euro assets to GBP; it beggers the question as to whose money exactly we are lending them. Or more crudely have the government bribed entities to come and invest in GBP assets with their support to the Euro & IMF.with presumably the taxpayers money.

the 10bb UK is putting in the IMF collection box have nothing to do with propping up the €UR.

friendly advice: try to gather, compile and evaluate information from other sources than Telegraph and Daily Mail journàsslists.

If you belive that Naam ,you are not as smart as i thought , but then i believe you are German ,so as i believe a famous woman once said "well,he would say that wouldnt he"

The quote was "well he would wouldn't he". The woman was the English call girl Mandy Rice-Davies.

What that, or being German,has to do with the value of the pound is not clear to me.

[Chivas]

I love optimists but prefer realists, the very best you can hope for at this stage of the procedings is low 50's, if you dig into it you'll see that 70 baht was unnatuarlly high and unsupportable hence, you will never, ever see 70's again.

12 years ago when the Baht collapsed the pound reached an amazing 140 and stayed there for a few months - 70's? Chicken feed, just hope the baht collapses gain!!!!!

Why are trolls like this allowed to remain on a forum ??

[chiang mai]

Let's get back on track please.

[Chivas]

Let's get back on track please.

So you are suggesting that clear out and out trolls should be ignored ??

Nothing to do with getting back on "track".....

[mommysboy]

does anybody still remember the 'learned' clowns who forecasted here in early 2009 GBP @ USD 1.20 or even lower and caused panic among the Brits in Thailand?

I most certainly do, the foremost red noser predicted a rate of 35-40 baht to the pound.

[chiang mai]

does anybody still remember the 'learned' clowns who forecasted here in early 2009 GBP @ USD 1.20 or even lower and caused panic among the Brits in Thailand?

I most certainly do, the foremost red noser predicted a rate of 35-40 baht to the pound.

Indeed that was me MMB, thankfully we only reached 45, but 45 wasn't a bad guess given we were at 60+ at the time - as I recall I said 10% either way! Others who shall remain nameless championed the cause for it always pushing much higher than it ever did, it'll return to 70 they said, dreamers! Watching that decline over so many months was painful for many of those who live here, so much uncertainty about whether they would be able to stay or not and where it was all going to end, many had to leave. BTW, haven't seen you for a while MMB, been away?

[cmsally]

Also affecting this is the predictions/news of possible UK interest rate rise soon, as well as IMF trying to pressure ECB to cut rates. Another factor which encourages investing and therefore value of currencies.

[chiang mai]

Also affecting this is the predictions/news of possible UK interest rate rise soon, as well as IMF trying to pressure ECB to cut rates. Another factor which encourages investing and therefore value of currencies.

Also affecting this is the predictions/news of possible UK interest rate rise soon, as well as IMF trying to pressure ECB to cut rates. Another factor which encourages investing and therefore value of currencies.

I just finished reading that article by Andew Sentance, I thought the article was about him trying to tell he world that he was right all along and that Posen, who recently admitted publically was wrong, I don't really think it had anything to do with interest rates and I don't believe they will rise any time soon - the interest rate futures market has reduced the timing of the next rate increase from early 2015 to Nov 2014, still to late to be helpful to savers.

[Naam]

does anybody still remember the 'learned' clowns who forecasted here in early 2009 GBP @ USD 1.20 or even lower and caused panic among the Brits in Thailand?

I most certainly do, the foremost red noser predicted a rate of 35-40 baht to the pound.

Indeed that was me MMB, thankfully we only reached 45, but 45 wasn't a bad guess given we were at 60+ at the time - as I recall I said 10% either way! Others who shall remain nameless championed the cause for it always pushing much higher than it ever did, it'll return to 70 they said, dreamers! Watching that decline over so many months was painful for many of those who live here, so much uncertainty about whether they would be able to stay or not and where it was all going to end, many had to leave. BTW, haven't seen you for a while MMB, been away?

actually i referred to an American TV-member who used to pop up whenever an exchange rate trend developed and presented horror news to Brits and continental €uropeans based on his "insider connections with GS".

[Naam]

I love optimists but prefer realists, the very best you can hope for at this stage of the procedings is low 50's, if you dig into it you'll see that 70 baht was unnatuarlly high and unsupportable hence, you will never, ever see 70's again.

12 years ago when the Baht collapsed the pound reached an amazing 140 and stayed there for a few months - 70's? Chicken feed, just hope the baht collapses gain!!!!!

Why are trolls like this allowed to remain on a forum ??

he's not necessarily a troll. hallucinations can be caused by a variety of stuff ingested by a variety of means such as swallowing, snuffing, smoking, intravenous, subcutane... even anally

[thenervoussurgeon]

The only plausible reason I can find is that major banks and investors want to get out of the Euro. So maybe there is some kind of crisis afoot in the Eurozone.

http://www.telegraph...-save-euro.html

If we are then propping up the Euro to the tune of 10 billion and it seems banks etc maybe moving from Euro assets to GBP; it beggers the question as to whose money exactly we are lending them. Or more crudely have the government bribed entities to come and invest in GBP assets with their support to the Euro & IMF.with presumably the taxpayers money.

the 10bb UK is putting in the IMF collection box have nothing to do with propping up the €UR.

friendly advice: try to gather, compile and evaluate information from other sources than Telegraph and Daily Mail journàsslists.

If you belive that Naam ,you are not as smart as i thought , but then i believe you are German ,so as i believe a famous woman once said "well,he would say that wouldnt he"

The quote was "well he would wouldn't he". The woman was the English call girl Mandy Rice-Davies.

What that, or being German,has to do with the value of the pound is not clear to me.

yes i know ,and think about it,its not hard.

Edited April 22, 2012 by thenervoussurgeon

[thenervoussurgeon]

Cruncher ,also do try and read the posts ,Naam was not even talking about the value of the pound ,but the fact that the 10 billion we would pour into the imf was not to prop up the euro .of course it isnt!! thus as he was German ,"he would say that wouldnt he"

ps no hard feelings Naam

Edited April 22, 2012 by thenervoussurgeon

[chiang mai]

And what all of that has to do with Pound/Baht escapes me, perhaps we can refocus on the topic.

[Naam]

Cruncher ,also do try and read the posts ,Naam was not even talking about the value of the pound ,but the fact that the 10 billion we would pour into the imf was not to prop up the euro .of course it isnt!! thus as he was German ,"he would say that wouldnt he"

ps no hard feelings Naam

at my age, feeling that something is hard, can be a blessing. but now back to GBP THB. we don't want Chiang Mai get angry, do we?

[cmsally]

http://uk.reuters.com/article/2012/04/13/markets-sterling-idUKL6E8FD3IC20120413

General view is its on the up, but maybe some profit taking.

I don't go with the interest thing either. But I do think things are making investors a bit nervous in S Europe.

[nong38]

The last I looked its over 49 but will it get to 50 by the end of the week? What are the odds, when I came out last year it was at 49.5, almost time to go back!

[bendix]

did the Pound reach 140 Baht in the famous Hollywood movie "The Oklahoma Axe Murderer" or did you just make it up to get a reaction from Bendix or myself?

for the record: 12 years ago GBP's low vs. THB was 57.56 (may 24, 2000) and its high was 62.83 (dec 27, 2000).

It will get no reaction from me Naam. I distinctly remember those months well. In fact, 140 was chicken feed. I distinctly remember getting 180 baht to the pound. Or was in Vietnamese dong? I always get the two mixed up but not that it really matters. It's all fixed by the Bank of Thailand, innit?

[how241]

I love optimists but prefer realists, the very best you can hope for at this stage of the procedings is low 50's, if you dig into it you'll see that 70 baht was unnatuarlly high and unsupportable hence, you will never, ever see 70's again.

Same with the Dollar at 40-45 Baht. Never again.

[Naam]

did the Pound reach 140 Baht in the famous Hollywood movie "The Oklahoma Axe Murderer" or did you just make it up to get a reaction from Bendix or myself?

for the record: 12 years ago GBP's low vs. THB was 57.56 (may 24, 2000) and its high was 62.83 (dec 27, 2000).

It will get no reaction from me Naam. I distinctly remember those months well. In fact, 140 was chicken feed. I distinctly remember getting 180 baht to the pound. Or was in Vietnamese dong? I always get the two mixed up but not that it really matters. It's all fixed by the Bank of Thailand, innit?

it's indeed all fixed by the Bank of Thailand. rumour has it that the BoT even fixed two metric pounds for one kilogram.

[Naam]

I love optimists but prefer realists, the very best you can hope for at this stage of the procedings is low 50's, if you dig into it you'll see that 70 baht was unnatuarlly high and unsupportable hence, you will never, ever see 70's again.

Same with the Dollar at 40-45 Baht. Never again.

never say never!

[mommysboy]

does anybody still remember the 'learned' clowns who forecasted here in early 2009 GBP @ USD 1.20 or even lower and caused panic among the Brits in Thailand?

I most certainly do, the foremost red noser predicted a rate of 35-40 baht to the pound.

Indeed that was me MMB, thankfully we only reached 45, but 45 wasn't a bad guess given we were at 60+ at the time - as I recall I said 10% either way! Others who shall remain nameless championed the cause for it always pushing much higher than it ever did, it'll return to 70 they said, dreamers! Watching that decline over so many months was painful for many of those who live here, so much uncertainty about whether they would be able to stay or not and where it was all going to end, many had to leave. BTW, haven't seen you for a while MMB, been away?

Oh well, tumultuous times and we all revised predictions again and again as events unfolded, and the previous thread was not the most convivial as I recall. Now, I'm not one to blow my own trumpet, but I will anyway, and point out I was the only one to see the whole picture, ie, that Euro land was in the cart too.

To the present, I can't see much of a rally myself. as we know Merv the Swerv and Big Dave have a habit of 'saying the wrong thing' where the pound is concerned, and I suspect the treasury wants to see a weak pound for a couple more years yet. Also any rally wouldn't be the result of strong fiscal reasoning, more a case of winning by default: if you'll pardon the expression.

I think we'll see the pound hover around 50 for some time to come, but over a longer period the trend will be towards 55.

I agree with Naam, never say never where exchange rates are concerned, the pound has traded from 30 to upper 80's over the years, thus it is not impossible to reach 70 again, although I think we could not see this until the end of the decade if at all.

Not been posting much, as have been surprisingly successful in my own small way, and hence have been very busy. Health not too good either so tend to be on Health Forums with the other snivelling patients.

[PattayaParent]

did the Pound reach 140 Baht in the famous Hollywood movie "The Oklahoma Axe Murderer" or did you just make it up to get a reaction from Bendix or myself?

for the record: 12 years ago GBP's low vs. THB was 57.56 (may 24, 2000) and its high was 62.83 (dec 27, 2000).

It will get no reaction from me Naam. I distinctly remember those months well. In fact, 140 was chicken feed. I distinctly remember getting 180 baht to the pound. Or was in Vietnamese dong? I always get the two mixed up but not that it really matters. It's all fixed by the Bank of Thailand, innit?

it's indeed all fixed by the Bank of Thailand. rumour has it that the BoT even fixed two metric pounds for one kilogram.

Surely a pound is not a metric measure?

Unless you mean the metricised pound sterling?