Pound Weakens.

[Jip99]

I need to transfer money for my retirement visa. 2 grand down now before Brexit!!

What you gonna do, just suck it up, no choice. I'm just lucky that I can afford to swallow it, I fear for those who will find it a bridge to far.

To say I am pissed off at my country's decision to leave the EU is absolute

So, another Remainer not taking responsibility for his own (non-) actions and blaming others.

Did it not occur to you to transfer money when the rate was 50, or even spiking at 52 ?

As I am sure cash flow is not an issue and I imagine with a bit of thought you could get an embassy letter confirming your income.

There may be no need to crystallise a 'loss' in your eyes by being forced to transfer at a rate that is artificially low.

If you have Sterling, Superrich are giving 47.

[DUS]

If you have Sterling, Superrich are giving 47.

Did you only check their website or did you get an actual quote from one of their booths here in BKK? I am only asking because their online quotes the last few days have had nothing to do with the effective exchange rates at their booths.

[mcfish]

I need to transfer money for my retirement visa. 2 grand down now before Brexit!!

What you gonna do, just suck it up, no choice. I'm just lucky that I can afford to swallow it, I fear for those who will find it a bridge to far.

To say I am pissed off at my country's decision to leave the EU is absolute

So, another Remainer not taking responsibility for his own (non-) actions and blaming others.

Did it not occur to you to transfer money when the rate was 50, or even spiking at 52 ?

As I am sure cash flow is not an issue and I imagine with a bit of thought you could get an embassy letter confirming your income.

There may be no need to crystallise a 'loss' in your eyes by being forced to transfer at a rate that is artificially low.

If you have Sterling, Superrich are giving 47.

It cant be artificially low as its real and the market has spoken.

[Jip99]

If you have Sterling, Superrich are giving 47.

Did you only check their website or did you get an actual quote from one of their booths here in BKK? I am only asking because their online quotes the last few days have had nothing to do with the effective exchange rates at their booths.

I took it from their website - but the rte has not been static - I saw it move from 47.25 to 47 today.

[Berty100]

If you have Sterling, Superrich are giving 47.

Did you only check their website or did you get an actual quote from one of their booths here in BKK? I am only asking because their online quotes the last few days have had nothing to do with the effective exchange rates at their booths.

I took it from their website - but the rte has not been static - I saw it move from 47.25 to 47 today.

That would be at least 2 Baht above telex transfer on other banks.

[Gecko123]

Naam:

Do you pay someone to type your posts, or do you, like Donald Trump, prefer to type your own?

[Naam]

Naam:

Do you pay someone to type your posts, or do you, like Donald Trump, prefer to type your own?

typing is done by one of my dogs who takes my dictation. but he doesn't no shorthand.

[dbrenn]

If you owned this fund as I do, you would have made yourself a very healthy 6% (sterling) overnight profit.

http://www.hl.co.uk/funds/fund-discounts,-prices--and--factsheets/search-results/i/investec-emerging-market-local-currency-debt-income/charts

I think everybody was given fair warning to hedge.

Anyone who had shorted GBP the day before the vote would have made that, but what if the vote had ended with 52% remain?

Or did you have a look in your crystal ball?

'Hedging' means that you hold half of your wealth in Baht, and the other half in pounds. Whichever way the exchange rate goes, you end up with exactly the same when you convert back to a single currency again.

I hedged against the recent drop in the Australia dollar by putting half of my money in USD exchange traded funds. If the AUD had gone up, I'd have lost the same amount on my USD holding, and vice versa. What actually happened was the AUD dropped, which meant that the half of my money that was in AUD was worth less, but the other half that was in USD was worth more by the same amount. Hedging is useful and helps you get a good night's sleep.

[dbrenn]

And it heads even lower

$1.30 and I can imagine

a few old boys are

starting to worry about

hanging on to their birds

Schadenfreude is such an ugly aspect of human nature.

[Eclipse]

I need to transfer money for my retirement visa. 2 grand down now before Brexit!!

What you gonna do, just suck it up, no choice. I'm just lucky that I can afford to swallow it, I fear for those who will find it a bridge to far.

To say I am pissed off at my country's decision to leave the EU is absolute

So, another Remainer not taking responsibility for his own (non-) actions and blaming others.

Spoken by someone who has zero empathy with any one who is struggling a bit.

Not everyone is loaded like you.

[MissAndry]

I hedged against the recent drop in the Australia dollar by putting half of my money in USD exchange traded funds. If the AUD had gone up, I'd have lost the same amount on my USD holding, and vice versa. What actually happened was the AUD dropped, which meant that the half of my money that was in AUD was worth less, but the other half that was in USD was worth more by the same amount. Hedging is useful and helps you get a good night's sleep.

Let's hope the USD doesn't jump off a Pattaya balcony any time soon then!

If you live in Thailand and Australia ..... hedging means holding those two currencies.

As for Thai baht, not too sure about that either, I wouldn't be wanting to hold more than I needed.

I have enough for a year, but if it were 'run away' time, it wouldn't be a big loss.

Edited July 7, 2016 by MissAndry

[Jip99]

I need to transfer money for my retirement visa. 2 grand down now before Brexit!!

What you gonna do, just suck it up, no choice. I'm just lucky that I can afford to swallow it, I fear for those who will find it a bridge to far.

To say I am pissed off at my country's decision to leave the EU is absolute

So, another Remainer not taking responsibility for his own (non-) actions and blaming others.

Spoken by someone who has zero empathy with any one who is struggling a bit.

Not everyone is loaded like you.

Are you stalking me ?

Did you need to comment on that post ?

I might be loaded but I always have empathy with those who are struggling a bit.

[dbrenn]

I hedged against the recent drop in the Australia dollar by putting half of my money in USD exchange traded funds. If the AUD had gone up, I'd have lost the same amount on my USD holding, and vice versa. What actually happened was the AUD dropped, which meant that the half of my money that was in AUD was worth less, but the other half that was in USD was worth more by the same amount. Hedging is useful and helps you get a good night's sleep.

Let's hope the USD doesn't jump off a Pattaya balcony any time soon then!

If you live in Thailand and Australia ..... hedging means holding those two currencies.

As for Thai baht, not too sure about that either, I wouldn't be wanting to hold more than I needed.

I have enough for a year, but if it were 'run away' time, it wouldn't be a big loss.

I live in Thailand, but my money is in Australia - as you say, I would't want to hold all my money in THB, but I was concerned that any depreciation in the AUD versus the USD would leave me a lot worse off once said funds were eventually converted into THB (which tends to follow the USD more that the AUD.

Hedging by swapping half of my AUD funds for USD meant that, any reduction, or gain in the value of the AUD did not affect my financial position.

[chrisandsu]

It's kind of funny how our fellow Europeans are saying Britain is finished .... France is bankrupt and Germany gets to hold together a whole bunch of tin pot economies on its own . To think your worried about Britain ? I'd be seriously worried if I had euros ! It's getting cold in Europe soon we may need it to put on the fire to warm our houses ?

Edited July 8, 2016 by chrisandsu

[DUS]

It's kind of funny how our fellow Europeans are saying Britain is finished .... France is bankrupt and Germany gets to hold together a whole bunch of tin pot economies on its own . To think your worried about Britain ? I'd be seriously worried if I had euros ! It's getting cold in Europe soon we may need it to put on the fire to warm our houses ?

Nothing to get cocky about, if you ask me. I think all fiat currencies are doomed to fail in the not too distant future. And then it doesn´t matter if you´re holding sterling, Euros or USD. Soon, we will all be up s**t creek ... without a paddle.

Edited July 8, 2016 by DUS

[OJAS]

A raft of key BOE announcements scheduled for next Thursday (14th), which could well result in a further dramatic downward lurch in the GBP's value by the look of things:-

http://www.tradingeconomics.com/united-kingdom/calendar

So if you're planning to transfer funds across from the UK next week sooner rather than later is definitely better, I think.

[Mark123456]

That's just the regular monthly announcements. Might have some bad news, might not, but not a special event by any means.

[B1TcoinLife]

It's kind of funny how our fellow Europeans are saying Britain is finished .... France is bankrupt and Germany gets to hold together a whole bunch of tin pot economies on its own . To think your worried about Britain ? I'd be seriously worried if I had euros ! It's getting cold in Europe soon we may need it to put on the fire to warm our houses ?

Nothing to get cocky about, if you ask me. I think all fiat currencies are doomed to fail in the not too distant future. And then it doesn´t matter if you´re holding sterling, Euros or USD. Soon, we will all be up s**t creek ... without a paddle.

Anyone keeping all his money in paper cash has every reason to be concerned, most financial analysts say the next recession will be light-years worse than the previous one..

If you don't want to be caught up shit Creek hedge against a Wipeout

Several currencies are safer than all in one basket etc, different currencies, in differnt banks, in different countries of you can

Buy a bit of land or property in your home Country

A stack of previous metals, rhodium, palladium and platinum, silver and gold are going up steadily

Invest in more stable offshore nations than the one you reside in

My own personal favourite is cryptocurrencys like Bitcoin but I believe diversification is the key to avoiding a total Wipeout...

[MissAndry]

In the event of a world economic breakdown I would go,

Sacks of rice and other dried, tinned or preserved foods hidden in an underground bunker with a well.

Maybe some sword fighting lessons.

'I'm really hungry, but I've got a great collection of gold coins'

Yeah, that'll work.

Edited July 8, 2016 by MissAndry

[B1TcoinLife]

In the event of a world economic breakdown I would go,

Sacks of rice and other dried, tinned or preserved foods hidden in an underground bunker with a well.

Maybe some sword fighting lessons.

'I'm really hungry, but I've got a great collection of gold coins'

Yeah, that'll work.

If it gets that bad, the man who invested in the best weapons will be able to take your bags of rice....

[Jip99]

In the event of a world economic breakdown I would go,

Sacks of rice and other dried, tinned or preserved foods hidden in an underground bunker with a well.

Maybe some sword fighting lessons.

'I'm really hungry, but I've got a great collection of gold coins'

Yeah, that'll work.

A builder with cash flow problems once told me....... "You can't buy a loaf of bread with a sh!thouse door".

[Eclipse]

In the event of a world economic breakdown I would go,

Sacks of rice and other dried, tinned or preserved foods hidden in an underground bunker with a well.

Maybe some sword fighting lessons.

'I'm really hungry, but I've got a great collection of gold coins'

Yeah, that'll work.

A builder with cash flow problems once told me....... "You can't buy a loaf of bread with a sh!thouse door".

Meaning?

[lannarebirth]

In the event of a world economic breakdown I would go,

Sacks of rice and other dried, tinned or preserved foods hidden in an underground bunker with a well.

Maybe some sword fighting lessons.

'I'm really hungry, but I've got a great collection of gold coins'

Yeah, that'll work.

A builder with cash flow problems once told me....... "You can't buy a loaf of bread with a sh!thouse door".

Meaning?

Meaning, fungibility matters.

[Aussie69]

... and after all that, not a single "I am smart, I use bitcoin" post. I am surprised TVF

Edited July 10, 2016 by Aussie69

[Ks45672]

... and after all that, not a single "I am smart, I use bitcoin" post. I am surprised TVF

whats a bitcoin ?

[JAS21]

Ks45672, on 11 Jul 2016 - 19:44, said:

Aussie69, on 10 Jul 2016 - 14:59, said:

... and after all that, not a single "I am smart, I use bitcoin" post. I am surprised TVF

whats a bitcoin ?

Bitcoin is a digital asset and a payment system invented by Satoshi Nakamoto.

[chingching]

i AM SMART, I USE BITCOIN

[Aussie69]

Bitcoin is a digital asset and a payment system invented by Satoshi Nakamoto.

Allegedly

[B1TcoinLife]

Bitcoin is a digital asset and a payment system invented by Satoshi Nakamoto.

Allegedly

I have made more returns on my Bitcoin investments than anything else in my portfolio since 2011 until now....

Bitcoin was the first of it's kind but now they're are many different types of crypto currency, the newer ones have more advanced features than the original Bitcoin but Bitcoin is still got around 83% of the market share...

Lisk is probably one to watch among the up and coming coins... Is written in Javascript so it has an advantage of simplicity over coins written in unique new languages...

$0.33 at the moment but that will be probably triple at least when the Chinese start buying it...

[elliottm]

Just tried to transfer my visa savings in Bangkok Bank online to UK.

The only transfer purpose was "Salary Repatriation" which is not the case (Non O family visa extension) and so am unable to proceed.

i) Anyone tried this option without being on WP? (Just in case I ever had any queries into my finances at a later date.)

ii) Presumably this can be done in branch, does this require paper trail from original transfer from UK (it's come over in tranches and has been through different accounts and banks over the last 5 years).