Brexit: why British expats are worried

[Naam]

My personal opinion is that the recent fall in the value of Sterling is only one of several such falls that we're likely to see over the next 12/24 months as fiscal events manifest themselves and get embedded in the exchange rates. Loss of AAA rating could be the first and that is almost certainly going to be followed by outflows, difficult to see what the entire pattern may look like but we certainly aren't done, we've only just started.

My personal opinion, is that your personal opinion is wrong.

(Didn't you predict a stay in vote? Like you have a track record of being right?)

Anyway my home is still in the UK, with all the foreigners gone, I'll have room enough to live there.

that begs the question "will you live long enough to see all foreigners gone?" i have strong doubts.

[bkkcanuck8]

off topic but accurate post......The best 2 ways of growing any economy is 1..growing it with your own currency...2...being able to depreciate/appreciate

that same currency.Governments and banks can also loosen fiscal policy(spend money on whatever sectors...banks give more hopefully business

loans)........not to mention interest rates(monetary policy)can be raised or lowered in conjunction with above....

But having said all that.....if the foundations of any economy(business investment..educated youth...infastructure.)are absent the above will be of

little help long-term........

European countries had lots of room on fiscal policy, the ability to run a deficit of up to 3%... unfortunately most are so fiscally irresponsible that they spend all the time at the cap (or over)..... and it is not like they have no tax revenue - they have lots of it... they just have to set priorties.

[alanrchase]

Cant be bothered to Google. Milton imposed his economic ideas on South American countries just as an experiment. Nice guy.

You've really got to learn to separate the man from the ideas. He had plenty of wrongheaded ones. Although, to be fair, he didn't impose them on anyone. In Chile it was Pinochet who did that And elsewhere, if there was an elsewhere in Latin America, it wasn't Friedman who was in any position to do the imposing. Anyway, as I pointed out, Krugman (and others who share his views) also thought it was a bad idea. I wasn't aware that Krugman has imposed his ideas on any country anywhere. More's the pity.

Ok, his ideas were imposed by the US government as a social experiment. Way off topic now.

I agree about being off topic. But the point was that from an economic point of view, it was overwhelmingly obvious that you can't have a monetary union without a fiscal union. As it stands now, Germany as an export dependent economy is enormously benefited by having a currency that that is too low in relation to its economy, while Spain, for example, is very badly hurt by having a currency that is too high in relation to its economy. Of course, insofar as the UK has its own currency, this is not a problem. But, because the Euro has depressed the European economy for way too long, that contributed to dissatisfaction in the UK.

off topic but accurate post......The best 2 ways of growing any economy is 1..growing it with your own currency...2...being able to depreciate/appreciate

that same currency.Governments and banks can also loosen fiscal policy(spend money on whatever sectors...banks give more hopefully business

loans)........not to mention interest rates(monetary policy)can be raised or lowered in conjunction with above....

But having said all that.....if the foundations of any economy(business investment..educated youth...infastructure.)are absent the above will be of

little help long-term........

Are you saying Britain is now solely in charge of the Pound? We set the exchange rates?

[Nasrullah]

i looked at xe.com this morning with the pound being 48.4 to the baht.....but read somewhere(?) it devalued 20% immediately after the result?..so to my math it(as i write)

it's depreciated around 8%......little bit of a rebound..........anyone confirm what it was on friday post-result?....

[alanrchase]

i looked at xe.com this morning with the pound being 48.4 to the baht.....but read somewhere(?) it devalued 20% immediately after the result?..so to my math it(as i write)

it's depreciated around 8%......little bit of a rebound..........anyone confirm what it was on friday post-result?....

If you use XE you can click to get a graph of the day. Why ask on here?

[Naam]

Yes, Boris is now in a fix. He didn't expect or really want Brexit to win. And with Cameron rightly refusing to invoke the Leave mechanism and leaving it to his successor, Boris realises what a poisoned chalice he will inherit if he becomes leader! Som nam na.

The chalice was already poisoned and on it;s deathbed!........anyone honestly believe the Euro zone will be in place in 3 yrs??

So what is everyone worried about!.......back to the way way it was before where countries could make sovereign economic decisions.....

The sovereign talk is overrated, will Britain now be able to make demands of other countries due to our sovereign rights?

Well it must have been overrated for many years as the EU is what 18-20 yrs old?......It was an experiment that is failing and will ultimately fail!

What demands of other countries?.....It worked ok before the advent of the EU......Broad question so i don't really know what demands you

speak of....All i know is the UK can now make decisions based on UK needs...

please brush up your knowledge of EU history

[Nasrullah]

My personal opinion is that the recent fall in the value of Sterling is only one of several such falls that we're likely to see over the next 12/24 months as fiscal events manifest themselves and get embedded in the exchange rates. Loss of AAA rating could be the first and that is almost certainly going to be followed by outflows, difficult to see what the entire pattern may look like but we certainly aren't done, we've only just started.

My personal opinion, is that your personal opinion is wrong.

(Didn't you predict a stay in vote? Like you have a track record of being right?)

Anyway my home is still in the UK, with all the foreigners gone, I'll have room enough to live there.

that begs the question "will you live long enough to see all foreigners gone?" i have strong doubts.

Childish reply...I'll give andry the benefit of the doubt that he was talking about foreigners who've come to the UK via proper channels....

[Naam]

My personal opinion is that the recent fall in the value of Sterling is only one of several such falls that we're likely to see over the next 12/24 months as fiscal events manifest themselves and get embedded in the exchange rates. Loss of AAA rating could be the first and that is almost certainly going to be followed by outflows, difficult to see what the entire pattern may look like but we certainly aren't done, we've only just started.

My personal opinion, is that your personal opinion is wrong.

(Didn't you predict a stay in vote? Like you have a track record of being right?)

Anyway my home is still in the UK, with all the foreigners gone, I'll have room enough to live there.

that begs the question "will you live long enough to see all foreigners gone?" i have strong doubts.

Childish reply...I'll give andry the benefit of the doubt that he was talking about foreigners who've come to the UK via proper channels....

very hesitantly i'll give you the benefit of doubt that you are not an ignoramus.

[Nasrullah]

Come on......You Naam.... laughed at every turn of a BREXIT!..........what history should i brush up on?......YOU know .........the right version

Edited June 26, 2016 by Nasrullah

[Nasrullah]

i looked at xe.com this morning with the pound being 48.4 to the baht.....but read somewhere(?) it devalued 20% immediately after the result?..so to my math it(as i write)

it's depreciated around 8%......little bit of a rebound..........anyone confirm what it was on friday post-result?....

If you use XE you can click to get a graph of the day. Why ask on here?

maybe because i'm busy posting on here... ......If u know u can tell me you know......costs nothing

[MissAndry]

My personal opinion is that the recent fall in the value of Sterling is only one of several such falls that we're likely to see over the next 12/24 months as fiscal events manifest themselves and get embedded in the exchange rates. Loss of AAA rating could be the first and that is almost certainly going to be followed by outflows, difficult to see what the entire pattern may look like but we certainly aren't done, we've only just started.

My personal opinion, is that your personal opinion is wrong.

(Didn't you predict a stay in vote? Like you have a track record of being right?)

Anyway my home is still in the UK, with all the foreigners gone, I'll have room enough to live there.

that begs the question "will you live long enough to see all foreigners gone?" i have strong doubts.

Your country found a way to remove undesirables before, maybe we can learn from history.

[ilostmypassword]

Were we not debating Milton? You have swerved back on topic without addressing your failed opinion. As mentioned, off topic.

What failed opinion are you referring to? I honestly don't know what you mean.

That Milton turned out to be a disastrous experiment for the country it was imposed on.

First of all, I thought you meant that discussing the question of Milton Friedman's economic advice for Chile was off topic. And it certainly is. Let me point out that you raised that issue, not me.

I only mentioned his name in conjunction with Paul Krugman's to show that there was a wide range of economists who thought and think the adoption of the Euro was a mistake. And I don't think the USA had to impose Friedman's ideas on Chile. The junta which overthrew Pinochet, with unstated though obvious American approval, was eager to try out his radical free market ideas. They didn't need any encouragement, much less, pressure. And, yes, this post, like yours, is definitely off topic.

[alanrchase]

My personal opinion is that the recent fall in the value of Sterling is only one of several such falls that we're likely to see over the next 12/24 months as fiscal events manifest themselves and get embedded in the exchange rates. Loss of AAA rating could be the first and that is almost certainly going to be followed by outflows, difficult to see what the entire pattern may look like but we certainly aren't done, we've only just started.

My personal opinion, is that your personal opinion is wrong.

(Didn't you predict a stay in vote? Like you have a track record of being right?)

Anyway my home is still in the UK, with all the foreigners gone, I'll have room enough to live there.

that begs the question "will you live long enough to see all foreigners gone?" i have strong doubts.

Your country found a way to remove undesirables before, maybe we can learn from history.

Talk is getting good, undesirables?

[Nasrullah]

@alanchase........Are you saying Britain is now solely in charge of the Pound? We set the exchange rates?

No....certainly not!..........But from what britain does from now on is in their control.....Perceived good decisions/actions from world eyes influences currency rates along with other

data of course....

I say perceived because .........it's all about confidence in one's currency!

[alanrchase]

Were we not debating Milton? You have swerved back on topic without addressing your failed opinion. As mentioned, off topic.

What failed opinion are you referring to? I honestly don't know what you mean.

That Milton turned out to be a disastrous experiment for the country it was imposed on.

First of all, I thought you meant that discussing the question of Milton Friedman's economic advice for Chile was off topic. And it certainly is. Let me point out that you raised that issue, not me.

I only mentioned his name in conjunction with Paul Krugman's to show that there was a wide range of economists who thought and think the adoption of the Euro was a mistake. And I don't think the USA had to impose Friedman's ideas on Chile. The junta which overthrew Pinochet, with unstated though obvious American approval, was eager to try out his radical free market ideas. They didn't need any encouragement, much less, pressure. And, yes, this post, like yours, is definitely off topic.

Don't remember mentioning Milton myself, seems you were the first poster to bring him up.

[ilostmypassword]

My personal opinion is that the recent fall in the value of Sterling is only one of several such falls that we're likely to see over the next 12/24 months as fiscal events manifest themselves and get embedded in the exchange rates. Loss of AAA rating could be the first and that is almost certainly going to be followed by outflows, difficult to see what the entire pattern may look like but we certainly aren't done, we've only just started.

My personal opinion, is that your personal opinion is wrong.

(Didn't you predict a stay in vote? Like you have a track record of being right?)

Anyway my home is still in the UK, with all the foreigners gone, I'll have room enough to live there.

that begs the question "will you live long enough to see all foreigners gone?" i have strong doubts.

Your country found a way to remove undesirables before, maybe we can learn from history.

You should try to keep better informed. Now the Brexit leaders are saying that Brexit doesn't necessarily mean that workers from the EU, including Eastern Europe, won't be able to freely emigrate to the UK. You've been bamboozled. Just like lots of Brits were about devoting 350,000,000 million pounds per week to the NHS. You know, the money that would allegedly be saved by leaving the EU. I'd love to see the polls about how Britons are feeling now that they see how they've been misled.

[ilostmypassword]

Were we not debating Milton? You have swerved back on topic without addressing your failed opinion. As mentioned, off topic.

What failed opinion are you referring to? I honestly don't know what you mean.

That Milton turned out to be a disastrous experiment for the country it was imposed on.

First of all, I thought you meant that discussing the question of Milton Friedman's economic advice for Chile was off topic. And it certainly is. Let me point out that you raised that issue, not me.

I only mentioned his name in conjunction with Paul Krugman's to show that there was a wide range of economists who thought and think the adoption of the Euro was a mistake. And I don't think the USA had to impose Friedman's ideas on Chile. The junta which overthrew Pinochet, with unstated though obvious American approval, was eager to try out his radical free market ideas. They didn't need any encouragement, much less, pressure. And, yes, this post, like yours, is definitely off topic.

Don't remember mentioning Milton myself, seems you were the first poster to bring him up.

I mentioned Milton Friedman in regards to the Euro. Which is certainly relevant. You brought up the fact that he gave advice to the Chilean government. That was irrelevant.

[chiang mai]

@alanchase........Are you saying Britain is now solely in charge of the Pound? We set the exchange rates?

No....certainly not!..........But from what britain does from now on is in their control.....Perceived good decisions/actions from world eyes influences currency rates along with other

data of course....

I say perceived because .........it's all about confidence in one's currency!

Exchange rates are set by the volume of currency traded, not by people or institiutions.

And yes, I'd say confidence in the currency is high (not), so much so that Moody's have downgraded the country's outlook and credit and hardly any banks, hotels, exchange booths will trade pounds for anything this weekend, because its value is so uncertain. All in all it's looking very stable, not!

[alfieconn]

My personal opinion is that the recent fall in the value of Sterling is only one of several such falls that we're likely to see over the next 12/24 months as fiscal events manifest themselves and get embedded in the exchange rates. Loss of AAA rating could be the first and that is almost certainly going to be followed by outflows, difficult to see what the entire pattern may look like but we certainly aren't done, we've only just started.

My personal opinion, is that your personal opinion is wrong.

(Didn't you predict a stay in vote? Like you have a track record of being right?)

Anyway my home is still in the UK, with all the foreigners gone, I'll have room enough to live there.

Old cm has always talked the pound down for some strange reason ( i think they call it talking your position ), perhaps he is bitter than he sold some properties years ago before they appreciated 30% or something like that !

To be fair, his prediction of stg / bht hitting 43 will probably be right one day

Edited June 26, 2016 by alfieconn

[alanrchase]

Were we not debating Milton? You have swerved back on topic without addressing your failed opinion. As mentioned, off topic.

What failed opinion are you referring to? I honestly don't know what you mean.

That Milton turned out to be a disastrous experiment for the country it was imposed on.

First of all, I thought you meant that discussing the question of Milton Friedman's economic advice for Chile was off topic. And it certainly is. Let me point out that you raised that issue, not me.

I only mentioned his name in conjunction with Paul Krugman's to show that there was a wide range of economists who thought and think the adoption of the Euro was a mistake. And I don't think the USA had to impose Friedman's ideas on Chile. The junta which overthrew Pinochet, with unstated though obvious American approval, was eager to try out his radical free market ideas. They didn't need any encouragement, much less, pressure. And, yes, this post, like yours, is definitely off topic.

Don't remember mentioning Milton myself, seems you were the first poster to bring him up.

I mentioned Milton Friedman in regards to the Euro. Which is certainly relevant. You brought up the fact that he gave advice to the Chilean government. That was irrelevant.

Think we are off on a tangent. Respect your opinion, good, bad? I would be filthy rich if I predicted financial markets correctly. Enjoy your day. That is sincere, not sarcastic.

[dick dasterdly]

My personal opinion is that the recent fall in the value of Sterling is only one of several such falls that we're likely to see over the next 12/24 months as fiscal events manifest themselves and get embedded in the exchange rates. Loss of AAA rating could be the first and that is almost certainly going to be followed by outflows, difficult to see what the entire pattern may look like but we certainly aren't done, we've only just started.

My personal opinion, is that your personal opinion is wrong.

(Didn't you predict a stay in vote? Like you have a track record of being right?)

Anyway my home is still in the UK, with all the foreigners gone, I'll have room enough to live there.

that begs the question "will you live long enough to see all foreigners gone?" i have strong doubts.

Your country found a way to remove undesirables before, maybe we can learn from history.

An appalling comment - why on earth would you post something like this???

Have I missed a subtle nuance?

[Naam]

My personal opinion is that the recent fall in the value of Sterling is only one of several such falls that we're likely to see over the next 12/24 months as fiscal events manifest themselves and get embedded in the exchange rates. Loss of AAA rating could be the first and that is almost certainly going to be followed by outflows, difficult to see what the entire pattern may look like but we certainly aren't done, we've only just started.

My personal opinion, is that your personal opinion is wrong.

(Didn't you predict a stay in vote? Like you have a track record of being right?)

Anyway my home is still in the UK, with all the foreigners gone, I'll have room enough to live there.

that begs the question "will you live long enough to see all foreigners gone?" i have strong doubts.

Your country found a way to remove undesirables before, maybe we can learn from history.

a history i am not proud of!

[thai3]

I am convinced that Boris' decision to join and then lead the leave campaign had more to do with his desire to be the next Prime Minister than any firm conviction on the benefits or otherwise of UK membership of the EU!

I think so, if you read the dream of Rome he wrote in 2006 he was all for the EU, and especially the prospect of Turkey joining

[Naam]

Come on......You Naam.... laughed at every turn of a BREXIT!..........what history should i brush up on?......YOU know .........the right version

with a wife who voted for BRexit i had nothing to laugh at

you should brush up your knowledge of EU history and find that your "18-20 years" are "slightly" off the mark.

[chiang mai]

My personal opinion is that the recent fall in the value of Sterling is only one of several such falls that we're likely to see over the next 12/24 months as fiscal events manifest themselves and get embedded in the exchange rates. Loss of AAA rating could be the first and that is almost certainly going to be followed by outflows, difficult to see what the entire pattern may look like but we certainly aren't done, we've only just started.

My personal opinion, is that your personal opinion is wrong.

(Didn't you predict a stay in vote? Like you have a track record of being right?)

Anyway my home is still in the UK, with all the foreigners gone, I'll have room enough to live there.

Old cm has always talked the pound down for some strange reason ( i think they call it talking your position ), perhaps he is bitter than he sold some properties years ago before they appreciated 30% or something like that !

To be fair, his prediction of stg / bht hitting 43 will probably be right one day

Perhaps that strange reason is more about "old cm" not being prepared to do what most Brits do and bury his head in the sand and ignore the perilous state of the UK economy, debt and deficit.

And no again, I still have my flat in Somerset should I ever need it thank you very much, it sits there vacant waiting for me to return or to sell it.

[Nasrullah]

@alanchase........Are you saying Britain is now solely in charge of the Pound? We set the exchange rates?

No....certainly not!..........But from what britain does from now on is in their control.....Perceived good decisions/actions from world eyes influences currency rates along with other

data of course....

I say perceived because .........it's all about confidence in one's currency!

Exchange rates are set by the volume of currency traded, not by people or institiutions.

And yes, I'd say confidence in the currency is high (not), so much so that Moody's have downgraded the country's outlook and credit and hardly any banks, hotels, exchange booths will trade pounds for anything this weekend, because its value is so uncertain. All in all it's looking very stable, not!

haven't you hit the panic button......sell..sell..sell ...2 days in and confidence is in the toilet........below is quick explanation of currencies

Only 1.13 seconds.......take a look

http://www.investopedia.com/ask/answers/forex/how-forex-exchange-rates-set.asp

[alanrchase]

@alanchase........Are you saying Britain is now solely in charge of the Pound? We set the exchange rates?

No....certainly not!..........But from what britain does from now on is in their control.....Perceived good decisions/actions from world eyes influences currency rates along with other

data of course....

I say perceived because .........it's all about confidence in one's currency!

Exchange rates are set by the volume of currency traded, not by people or institiutions.

And yes, I'd say confidence in the currency is high (not), so much so that Moody's have downgraded the country's outlook and credit and hardly any banks, hotels, exchange booths will trade pounds for anything this weekend, because its value is so uncertain. All in all it's looking very stable, not!

haven't you hit the panic button......sell..sell..sell ...2 days in and confidence is in the toilet........below is quick explanation of currencies

Only 1.13 seconds.......take a look

http://www.investopedia.com/ask/answers/forex/how-forex-exchange-rates-set.asp

Priced in pounds am loosing. Priced in dollars am winning. Hopefully it is not a Charlie Sheen winning.

[chiang mai]

@alanchase........Are you saying Britain is now solely in charge of the Pound? We set the exchange rates?

No....certainly not!..........But from what britain does from now on is in their control.....Perceived good decisions/actions from world eyes influences currency rates along with other

data of course....

I say perceived because .........it's all about confidence in one's currency!

Exchange rates are set by the volume of currency traded, not by people or institiutions.

And yes, I'd say confidence in the currency is high (not), so much so that Moody's have downgraded the country's outlook and credit and hardly any banks, hotels, exchange booths will trade pounds for anything this weekend, because its value is so uncertain. All in all it's looking very stable, not!

haven't you hit the panic button......sell..sell..sell ...2 days in and confidence is in the toilet........below is quick explanation of currencies

Only 1.13 seconds.......take a look

http://www.investopedia.com/ask/answers/forex/how-forex-exchange-rates-set.asp

You can waffle and post links to idiot guides all you want but the statement above remains true, exchange rates are set based on volumes traded, supply and demand.

[Nasrullah]

Come on......You Naam.... laughed at every turn of a BREXIT!..........what history should i brush up on?......YOU know .........the right version

with a wife who voted for BRexit i had nothing to laugh at

you should brush up your knowledge of EU history and find that your "18-20 years" are "slightly" off the mark.

Ok.....i should of said the euro!!!..not EU.....1951-58??whatever!!!......http://www.telegraph.co.uk/news/2016/06/20/what-is-the-eu-why-was-it-created-and-when-was-it-formed1/

[chiang mai]

@alanchase........Are you saying Britain is now solely in charge of the Pound? We set the exchange rates?

No....certainly not!..........But from what britain does from now on is in their control.....Perceived good decisions/actions from world eyes influences currency rates along with other

data of course....

I say perceived because .........it's all about confidence in one's currency!

Exchange rates are set by the volume of currency traded, not by people or institiutions.

And yes, I'd say confidence in the currency is high (not), so much so that Moody's have downgraded the country's outlook and credit and hardly any banks, hotels, exchange booths will trade pounds for anything this weekend, because its value is so uncertain. All in all it's looking very stable, not!

haven't you hit the panic button......sell..sell..sell ...2 days in and confidence is in the toilet........below is quick explanation of currencies

Only 1.13 seconds.......take a look

http://www.investopedia.com/ask/answers/forex/how-forex-exchange-rates-set.asp

Priced in pounds am loosing. Priced in dollars am winning. Hopefully it is not a Charlie Sheen winning.

Conversely, priced in Pounds I'm ahead circa 25k, just because I didn't obey the magic rule, "don't bring more money into Thailand than you can afford to loose"!