Pound Hits 50, How Long Will The Trend Last?

[Naam]

i wish i was a Brit, owned Sterling and could therefore kneel down before going to bed and pray "Dear <insert deity>, please consider the centuries and make the Pound buy 50 or more Baht again!"

I have a few samples in pristine condition that I could sell to you, if you wish?

Baht?

[thenervoussurgeon]

i wish i was a Brit, owned Sterling and could therefore kneel down before going to bed and pray "Dear <insert deity>, please consider the centuries and make the Pound buy 50 or more Baht again!"

Keep taking the medication Naam, it's all rosy in Europe and for the euro while you do. Plenty of time to come back to reality and in your dreams you can be joined by 12drinktomuch

why would i care about bloody Europe and why would i care about the €UR? all my life i have been a cosmopolitan in each and every respect. it's not me who lives in Nakhon Nowhere needing medication to cure hallucinations of "century old currencies" as well as "failed ones" or compensate for wet dreams and frustration by making uneducated and unfounded ridiculous claims and then trying to divert with even more ridiculous and irrelevant comments

Whatever

[12DrinkMore]

Keep taking the medication Naam, it's all rosy in Europe and for the euro while you do. Plenty of time to come back to reality and in your dreams you can be joined by 12drinktomuch

No, it is not all rosy in Europe. Nobody around here ever said it was.

You cannot blame the currency for the mess.

It is the politicians who lied.

In the case of Greece, they all lied with the help of Goldman Sachs.

It is the bankers who through greed ignored common sense and took the rating agencies as arse-covering, lending huge amounts to to people who could not and will not pay it back.

So, to reiterate, and this is the discussion, it is not the EUR that caused the problems, it is the bunch of fuc_kers who saw a way to make themselves a bit of cash, and ignored the clearly stated constraints that were put on countries when they took on the responsibility of using the EUR as their currency.

I am not happy about it, I have lost money.

Don't shoot the messenger, look to where the real culpability is.

Edited May 25, 2012 by 12DrinkMore

[exeter]

I see that the Spanish Banks are in the mire tonight, Bankia asking for 19B Euro's from the Government ( who own a lot of it anyway) and 4 more have been down rated by a credit agency, things are going well for Euroland. It at least makes sterling and the dollar look like safer havens at this moment in time which could help the exchange rate a trice, lets hope so, the rate depends where you look and today I was seeing 49.26 to the £, if it keeps rising it will make my day and there can be many more.

[yoshiwara]

Keep taking the medication Naam, it's all rosy in Europe and for the euro while you do. Plenty of time to come back to reality and in your dreams you can be joined by 12drinktomuch

No, it is not all rosy in Europe. Nobody around here ever said it was.

You cannot blame the currency for the mess.

It is the politicians who lied.

In the case of Greece, they all lied with the help of Goldman Sachs.

It is the bankers who through greed ignored common sense and took the rating agencies as arse-covering, lending huge amounts to to people who could not and will not pay it back.

So, to reiterate, and this is the discussion, it is not the EUR that caused the problems, it is the bunch of fuc_kers who saw a way to make themselves a bit of cash, and ignored the clearly stated constraints that were put on countries when they took on the responsibility of using the EUR as their currency.

I am not happy about it, I have lost money.

Don't shoot the messenger, look to where the real culpability is.

The continuing problem is essentially not a banking problem, but a political problem. States (Greece is an extreme example) are running state sectors which are unaffordable against receipts stripped of debt maintenance. This is not the case with Spain, whose problem is more that of a busted property sector, but the resolution requires not the hanging of the banking sector which might satisfy a witchfinder mentality, but a cutback in state expenditures also applicable to the USA. Electorates do not like to hear this message, so political parties are now coming to the fore prattling on about growth with not one idea in their head except one. Use the slogan to defend the public sector. That is what Hollande is all about. Europe is a fiscal mess. The US has a fiscal mess. The solutions are not easy and killing the banks is not a short cut.

[Naam]

The continuing problem is essentially not a banking problem, but a political problem. States (Greece is an extreme example) are running state sectors which are unaffordable against receipts stripped of debt maintenance. This is not the case with Spain, whose problem is more that of a busted property sector, but the resolution requires not the hanging of the banking sector which might satisfy a witchfinder mentality, but a cutback in state expenditures also applicable to the USA. Electorates do not like to hear this message, so political parties are now coming to the fore prattling on about growth with not one idea in their head except one. Use the slogan to defend the public sector. That is what Hollande is all about. Europe is a fiscal mess. The US has a fiscal mess. The solutions are not easy and killing the banks is not a short cut.

but killing selectively a number of bankers might help

[yoshiwara]

The continuing problem is essentially not a banking problem, but a political problem. States (Greece is an extreme example) are running state sectors which are unaffordable against receipts stripped of debt maintenance. This is not the case with Spain, whose problem is more that of a busted property sector, but the resolution requires not the hanging of the banking sector which might satisfy a witchfinder mentality, but a cutback in state expenditures also applicable to the USA. Electorates do not like to hear this message, so political parties are now coming to the fore prattling on about growth with not one idea in their head except one. Use the slogan to defend the public sector. That is what Hollande is all about. Europe is a fiscal mess. The US has a fiscal mess. The solutions are not easy and killing the banks is not a short cut.

but killing selectively a number of bankers might help

Watching the Senate hearing where Carl Levin went up against Lloyd Blankfein, I thought it was Carl Levin who should be shot.

[JSixpack]

So what's a safe currency to be in these days vis-a-vis the baht? By safe, I mean hold its value or even appreciate?

[chiang mai]

So what's a safe currency to be in these days vis-a-vis the baht? By safe, I mean hold its value or even appreciate?

Singapore Dollar is both safe and it appreciates along with USD.

[yoshiwara]

So what's a safe currency to be in these days vis-a-vis the baht? By safe, I mean hold its value or even appreciate?

Singapore Dollar is both safe and it appreciates along with USD.

Since last September the Singapore Dollar (SGD) has weakened from 1.20 to 1.28 against $US, which is a > 6% decline. It is currently at 1.28. The lowest during the last year was 1.31 which is a ~ 9% drop from peak to trough. The Singapore Dollar is linked to a basket of currencies and not just $US. If you think that USD:SGD will not break out of the 1.31 peak and that the USD might weaken in the second half of the year, then a return to 1:1.20 is possible and the current rate is an opportunity to buy in. Bear in mind though that the current inflation rate in Singapore is 5.4%. Not good. The currency which is directly linked to USD is the Hong Kong Dollar (HKD). The rate hardly moves at all and is locked within a very tight range. Just for interest, since the onset of the crisis the pound has dropped from ~ 3 SGD to ~ 2 SGD (ouch).

Edited May 26, 2012 by yoshiwara

[Naam]

So what's a safe currency to be in these days vis-a-vis the baht? By safe, I mean hold its value or even appreciate?

Singapore Dollar is both safe and it appreciates along with USD.

Since last September the Singapore Dollar (SGD) has weakened from 1.20 to 1.28 against $US, which is a > 6% decline. It is currently at 1.28. The lowest during the last year was 1.31 which is a ~ 9% drop from peak to trough. The Singapore Dollar is linked to a basket of currencies and not just $US. If you think that USD:SGD will not break out of the 1.31 peak and that the USD might weaken in the second half of the year, then a return to 1:1.20 is possible and the current rate is an opportunity to buy in. Bear in mind though that the current inflation rate in Singapore is 5.4%. Not good. The currency which is directly linked to USD is the Hong Kong Dollar (HKD). The rate hardly moves at all and is locked within a very tight range. Just for interest, since the onset of the crisis the pound has dropped from ~ 3 SGD to ~ 2 SGD (ouch).

nobody is interested in boring facts Yoshiwara. especially when these facts spoil nice bedtime stories. if a German (like me) mentions a fact such as "the GBPTHB 50 trend didn't last long" he is immediately accused to be a frustrated hater of the "perfidious Albion" because his ancestors could not invade it.

and should you, with the nipponese handle Yoshiwara, dare to mention the strength of JP¥ versus most other currencies then expect a third verbal nuclear blast based on the treatment of British POWs during WW II as well as links to the Daily Mail or The Sun mentioning the japanese debt/GDP ratio.

[chiang mai]

So what's a safe currency to be in these days vis-a-vis the baht? By safe, I mean hold its value or even appreciate?

Singapore Dollar is both safe and it appreciates along with USD.

Since last September the Singapore Dollar (SGD) has weakened from 1.20 to 1.28 against $US, which is a > 6% decline. It is currently at 1.28. The lowest during the last year was 1.31 which is a ~ 9% drop from peak to trough. The Singapore Dollar is linked to a basket of currencies and not just $US. If you think that USD:SGD will not break out of the 1.31 peak and that the USD might weaken in the second half of the year, then a return to 1:1.20 is possible and the current rate is an opportunity to buy in. Bear in mind though that the current inflation rate in Singapore is 5.4%. Not good. The currency which is directly linked to USD is the Hong Kong Dollar (HKD). The rate hardly moves at all and is locked within a very tight range. Just for interest, since the onset of the crisis the pound has dropped from ~ 3 SGD to ~ 2 SGD (ouch).

I am aware of the slight fall of SGD against USD although my main focus in this respect is against GBP, I bought SGD at 0.48 and against GBP it's risen to 0.51 but fallen back subsequently. One of the nicer aspects of SGD is that it provides a hedge between GBP, USD and THB, since I earn in all three currencies, spend in THB and invest in THB and GBP, SGD allows me to hedge effectively whilst still maintaining my spending power in THB.

[Naam]

So what's a safe currency to be in these days vis-a-vis the baht? By safe, I mean hold its value or even appreciate?

appreciation approximately 1,300% in 8 years versus Thai Baht:

[TommoPhysicist]

nobody is interested in boring facts Yoshiwara. especially when these facts spoil nice bedtime stories. if a German (like me) mentions a fact such as "the GBPTHB 50 trend didn't last long" he is immediately accused to be a frustrated hater of the "perfidious Albion" because his ancestors could not invade it.

The Angles and the Celts were originally German tribes.

As far as I can see the English were conquered by the Germans a long time ago.

(and The Normans and the Danes and anyone else who managed to get there)

[churchill]

So what's a safe currency to be in these days vis-a-vis the baht? By safe, I mean hold its value or even appreciate?

appreciation approximately 1,300% in 8 years versus Thai Baht:

I wouldn't drink port stored like that with those old corks .....1,300%

[Naam]

nobody is interested in boring facts Yoshiwara. especially when these facts spoil nice bedtime stories. if a German (like me) mentions a fact such as "the GBPTHB 50 trend didn't last long" he is immediately accused to be a frustrated hater of the "perfidious Albion" because his ancestors could not invade it.

The Angles and the Celts were originally German tribes.

As far as I can see the English were conquered by the Germans a long time ago.

(and The Normans and the Danes and anyone else who managed to get there)

not the Celts but the Saxons were the buddies of the Angles who moved to "the Island". both tribes were expelled from ancient Germany because of their disgusting food and drinking habits (Steak&Kidney Pie and Ale).

[Naam]

So what's a safe currency to be in these days vis-a-vis the baht? By safe, I mean hold its value or even appreciate?

appreciation approximately 1,300% in 8 years versus Thai Baht:

I wouldn't drink port stored like that with those old corks .....1,300%

nobody "stores" opened bottles as shown in the picture.

[Naam]

The solutions are not easy and killing the banks is not a short cut.

but killing selectively a number of bankers might help

Watching the Senate hearing where Carl Levin went up against Lloyd Blankfein, I thought it was Carl Levin who should be shot.

dinosaurs like Levin and Schumer should be treated with utmost lenience.

[churchill]

So what's a safe currency to be in these days vis-a-vis the baht? By safe, I mean hold its value or even appreciate?

appreciation approximately 1,300% in 8 years versus Thai Baht:

I wouldn't drink port stored like that with those old corks .....1,300%

nobody "stores" opened bottles as shown in the picture.

So what does your picture indicate .. do you mean port in those bottles stored like that would have depreciated by 1,300% over 8 years

[Naam]

So what does your picture indicate .. do you mean port in those bottles stored like that would have depreciated by 1,300% over 8 years

Churchill, once you are willing to shell out real money for some exquisite bottle of old Port i will be willing to discuss Port in details with you. until then i will tolerate some your lame comments like those above with a smile

[churchill]

So what does your picture indicate .. do you mean port in those bottles stored like that would have depreciated by 1,300% over 8 years

Churchill, once you are willing to shell out real money for some exquisite bottle of old Port i will be willing to discuss Port in details with you. until then i will tolerate some your lame comments like those above with a smile

Agreed Naam .. I look forward to meeting ..

and as we are talking wine prices see .. http://www.bbr.com/fine-wine/investment-wine-prices

which looks to me like around 400% over 10 years ...

[Naam]

So what does your picture indicate .. do you mean port in those bottles stored like that would have depreciated by 1,300% over 8 years

Churchill, once you are willing to shell out real money for some exquisite bottle of old Port i will be willing to discuss Port in details with you. until then i will tolerate some your lame comments like those above with a smile

Agreed Naam .. I look forward to meeting ..

and as we are talking wine prices see .. http://www.bbr.com/f...ent-wine-prices

which looks to me like around 400% over 10 years ...

Bordeaux = yuck!

[yoshiwara]

So what's a safe currency to be in these days vis-a-vis the baht? By safe, I mean hold its value or even appreciate?

Singapore Dollar is both safe and it appreciates along with USD.

Since last September the Singapore Dollar (SGD) has weakened from 1.20 to 1.28 against $US, which is a > 6% decline. It is currently at 1.28. The lowest during the last year was 1.31 which is a ~ 9% drop from peak to trough. The Singapore Dollar is linked to a basket of currencies and not just $US. If you think that USD:SGD will not break out of the 1.31 peak and that the USD might weaken in the second half of the year, then a return to 1:1.20 is possible and the current rate is an opportunity to buy in. Bear in mind though that the current inflation rate in Singapore is 5.4%. Not good. The currency which is directly linked to USD is the Hong Kong Dollar (HKD). The rate hardly moves at all and is locked within a very tight range. Just for interest, since the onset of the crisis the pound has dropped from ~ 3 SGD to ~ 2 SGD (ouch).

I am aware of the slight fall of SGD against USD although my main focus in this respect is against GBP, I bought SGD at 0.48 and against GBP it's risen to 0.51 but fallen back subsequently. One of the nicer aspects of SGD is that it provides a hedge between GBP, USD and THB, since I earn in all three currencies, spend in THB and invest in THB and GBP, SGD allows me to hedge effectively whilst still maintaining my spending power in THB.

I don't hold anything in THB except spending money. Income GBP and HKD. Can use either for baht exchange. Only a little SGD as a hedge against HKD but might increase later if USDSGD goes above 1:1.30. (and SGDHKD goes below 1:6)

[thaibeachlovers]

48.48 today, according to TV. Feeling good now, having changed when I did, but not happy that my next transfer of sterling in a month will probably be at a much lower rate.

[thenervoussurgeon]

luckily i changed a large amount at 49.50 but dont hold out a lot of hope for that again soon.

[exeter]

You 2 were lucky to have moved when you did, I notice the £ has dropped quickly of late with the Greek election due on the 17th June it will be interesting to see what transpires shortly after that. Surely they will see they are far better of in the Union with backing of the Euro, either way their pain will go on for a fair time yet. The big question is when they get to the polling station will they think of themselves and the "promises" made or the country?

[thenervoussurgeon]

You 2 were lucky to have moved when you did, I notice the £ has dropped quickly of late with the Greek election due on the 17th June it will be interesting to see what transpires shortly after that. Surely they will see they are far better of in the Union with backing of the Euro, either way their pain will go on for a fair time yet. The big question is when they get to the polling station will they think of themselves and the "promises" made or the country?

themselves,just as they always have

[12DrinkMore]

Here's one for the Brits. Why the UK is up the Swannee.

http://www.bbc.co.uk...ll_01.shtml#one

Could be on a par with the Germans. But no!

Little deluded brains, on a little bankrupt piece of ruined island, felt they were to secure their place as a World Power.

Not much changed really, with Gourden "I saved the World" Brown (what is that guy doing nowadays? Maybe looking up his kilt to find out what went wrong) and the two Schoolboys telling the powerful Angie 'NEIN' Merkel what to do.

Edited June 6, 2012 by 12DrinkMore

[thenervoussurgeon]

Here's one for the Brits. Why the UK is up the Swannee.

http://www.bbc.co.uk...ll_01.shtml#one

Could be on a par with the Germans. But no!

Little deluded brains, on a little bankrupt piece of ruined island, felt they were to secure their place as a World Power.

Not much changed really, with Gourden "I saved the World" Brown (what is that guy doing nowadays? Maybe looking up his kilt to find out what went wrong) and the two Schoolboys telling the powerful Angie 'NEIN' Merkel what to do.

People who are jelous that they were not born British always try to knock us ,never mind son ,just keep on posting and thinking your lot are the best. we understand

[TommoPhysicist]

People who are jelous that they were not born British always try to knock us ,never mind son ,just keep on posting and thinking your lot are the best. we understand

I was unfortunate enough to have been born British, I would swap my passport for a passport from any of the major EU countries, Canada, Thailand, Equador, etc. Not the USA, Australia or NZ as they treat their pensioners even worse than the UK.