Pound drops to lowest level since 1985

[Grouse]

19 minutes ago, Laughing Gravy said:

Grouse are you having a seizure with all the double posts or are you trying, like usual, to hammer your points home again and again. LOL

 

Sorted now.

 

Not aware of the double posts but there are some bugs with this new system. I don't like the fact that conversations are limited to 2 contributions....

[chiang mai]

Just now, SgtRock said:

 

I never mentioned pubs. You did.

 

Lets look at the facts. £ on a steady, but slow rise, right up to the referendum. EXIT, bang £ falls.

 

£ fairly stable and then on Friday Bang, £ falls again.For no reason that anyone can pinpoint and it has been blamed on everything from faulty algo's to Hollande and Merkel.

 

Yep, no-one with a vested interest make an absolute killing here. It would be fair to let the BoE and other FI's carry out their investigations before commenting further.

 

 

 You are my hero, well done. YOU have really highlighted your non ability to debate skills.

 

I am still awaiting your intellectually superior answer to what will happen to £ Sterling when DB collapses and the totally ineffective euro 1.9 Trillion ECB QE comes to an end in March 2017.

 

I care not a jot about Deutsche and the EU QE,  but I do note you are obsessed with them.  And if you really want to understand why the Pound falls and rises in fits and starts as you have described it's because all financial instruments have due or redemption dates, even large ticket ones that cater to government borrowings etc. So when a large investment denominated in Pounds comes up for redemption, the owner decides not to continue investing in Pounds but instead sells and switches to a more stable currency, USD perhaps and that has the effect of reducing the value of GBP.

[rockingrobin]

4 minutes ago, SgtRock said:

 

I never mentioned pubs. You did.

 

Lets look at the facts. £ on a steady, but slow rise, right up to the referendum. EXIT, bang £ falls.

 

£ fairly stable and then on Friday Bang, £ falls again.For no reason that anyone can pinpoint and it has been blamed on everything from faulty algo's to Hollande and Merkel.

 

Yep, no-one with a vested interest make an absolute killing here. It would be fair to let the BoE and other FI's carry out their investigations before commenting further.

 

 

 You are my hero, well done. YOU have really highlighted your non ability to debate skills.

 

I am still awaiting your intellectually superior answer to what will happen to £ Sterling when DB collapses and the totally ineffective euro 1.9 Trillion ECB QE comes to an end in March 2017.

The flash crash on friday was due to low liquidity, in order for a trade to occur a buyer and seller is needed.

[billd766]

4 hours ago, chiang mai said:

 

You know LG, I sense that no matter what bad thing happens in the next two years you're going to find a way to blame it on the Remain camp and the Brexit camp will continue to be blameless and hard done by, the victim, on and off, of a Brexit conspiracy theory. So there really is no good outcome for you on all of this, is there, the deck will have been stacked against you from the start and the croupier as dishonest as sin, you are the victim, aren't you!

 

That's just so so very sad.

 

You could change the term Remain camp and the Brexit camp the other way around and it would be equally applicable.

[Naam]

2 minutes ago, SgtRock said:

I am still awaiting your intellectually superior answer to what will happen to £ Sterling when DB collapses and the totally ineffective euro 1.9 Trillion ECB QE comes to an end in March 2017.

you are taking too much rubbish from gloom&doom journàrselists of the British rainbow press for real Sarge. banks like Deutsche Bank or Commerzbank are systemic, and that not only for Germany. any potential collapse would be prevented (if necessary) by a concerted multinational action of the ECB, FED, Bank of Japan and YES the Bank of England because nobody, especially those in power, wants experience another Lehman!

 

there's is of course no doubt that DB, its shareholders as well as its creditors are in dire straits. but only ignorants stare at share prices and use these exclusively for conclusions.

[chiang mai]

Just now, billd766 said:

 

You could change the term Remain camp and the Brexit camp the other way around and it would be equally applicable.

 

I don't see it that way myself, I've accepted that we're leaving and as far as I personally am concerned I'm looking to the future of Brexit. But I do think when something like the falls in the Pound happen and people try and tell me that it's orchestrated vengeance or manipulation by traders, it's all a bit too much.

[SgtRock]

6 minutes ago, Naam said:

you are taking too much rubbish from gloom&doom journàrselists of the British rainbow press for real Sarge. banks like Deutsche Bank or Commerzbank are systemic, and that not only for Germany. any potential collapse would be prevented (if necessary) by a concerted multinational action of the ECB, FED, Bank of Japan and YES the Bank of England because nobody, especially those in power, wants experience another Lehman!

 

there's is of course no doubt that DB, its shareholders as well as its creditors are in dire straits. but only ignorants stare at share prices and use these exclusively for conclusions.

 

That info is not coming from the UK Press. It is being reported worldwide and not just in the Press.

 

No need to call anyone ignorant, or insults will come straight back at you.

 

I am not using then share price as a guide to anything. I am looking at economists who are saying that if the share price price falls below euro 10 then it is curtains for DB.

 

There is plenty in the German Press regarding the state of DB, its  connection to Commerzbank and what will happen if DB fails.

 

The collapse of DB will not be another Lehman, it is being reported that the effects will be X 10. Again, I will re-iterate, when DB and the German Government has to issue denials the writing is already on the wall.

[Naam]

i'd like to clarify that i did not call you an ignorant but meant those who's ignorant conclusions you are repeating. and that pertains to any ignorants whether British or not. evidence for the potential concerted action i mentioned is "Lehman x10" quoted by you.

[SgtRock]

1 minute ago, Naam said:

i'd like to clarify that i did not call you an ignorant but meant those who's ignorant conclusions you are repeating. and that pertains to any ignorants whether British or not. evidence for the potential concerted action i mentioned is "Lehman x10" quoted by you.

 

Sure Naam  I am not repeating anyone's conclusions. What I am doing is reading a lot of information and drawing my own conclusions.

 

It is all just a conspiracy against DB. There really is no problem with DB. Everything is Hunky Dory. It is all a mistake.

 

You have a better grasp of the written German Media than I have. Perhaps you should have a look at the non delivery of Gold by DB.

 

It appears that it is becoming a closed shop, which tends to happen when a business is about to go under.

[ilostmypassword]

21 minutes ago, SgtRock said:

 

Sure Naam  I am not repeating anyone's conclusions. What I am doing is reading a lot of information and drawing my own conclusions.

 

It is all just a conspiracy against DB. There really is no problem with DB. Everything is Hunky Dory. It is all a mistake.

 

You have a better grasp of the written German Media than I have. Perhaps you should have a look at the non delivery of Gold by DB.

 

It appears that it is becoming a closed shop, which tends to happen when a business is about to go under.

So, on the one hand, when when people start talking darkly about a conspiracy against the DB, that's crazy talk.

But when they predict the value of the pound wrongly and they start talking about a conspiracy, that's perfectly reasonable.

Got it.

[SheungWan]

5 hours ago, Anythingleft? said:

Not sure that it was dismissed in any way it was at the forefront of most reports, but it also has a huge impact in a beneficial way to the economy for exports

This again is a lot of "I'm alright Jack" posters who are now facing the lower GBP rate in Thailand and not enjoying it instead of looking at the overall economy of the UK and the nation as a whole

 

Overall though in the longer term the GBP should come back but the countries economy may be in a better condition because of this change now. Time of course will tell and it probably will be a bit longer than most would like

 

So there we have it from this contributor, version B  has sterling's drop not a result of evil speculation. No, it is a highly positive outcome for the British economy, of course accompanied with the pie in the sky promise that sterling will recover at some mythical point in the future. Will this stop the evil speculator story version A team. Nope. Brexiteers continue to peddle both pills in turn. Just as I earlier predicted. Happy-Clappy B pill Vs Snarling A pill. The trouble with the B pill (sterling dive good for UK) is that the message on the side of the packet for expat sterling income holders is 'Drop dead'.

Edited October 11, 2016 by SheungWan

[rockingrobin]

25 minutes ago, SgtRock said:

 

Sure Naam  I am not repeating anyone's conclusions. What I am doing is reading a lot of information and drawing my own conclusions.

 

It is all just a conspiracy against DB. There really is no problem with DB. Everything is Hunky Dory. It is all a mistake.

 

You have a better grasp of the written German Media than I have. Perhaps you should have a look at the non delivery of Gold by DB.

 

It appears that it is becoming a closed shop, which tends to happen when a business is about to go under.

With regard to non delivery of gold Deutsche bank is the redemption agent and the issue is for Umicore AG. DB is the designated sponsor for the electronic trading system.

[Khun Han]

5 hours ago, chiang mai said:

 

Is the collapse of the Pound scaremongering or was it something that was foreseen beforehand and discussed widely (and dismissed)?

 

The immediate collapse of the economy was. And it has proven to be wholly wrong. The only thing remainers have to cling to is the falling pound. And they are playing that for all they can. Economists of distinction are now coming out and saying that Sterling is finding it's correct level away from it's association with the EU, and it's new value will be good for the economy as a whole.

 

On the subject of brexiters and currency rates, most of the argument on here was about remainers on here almost willing it to quickly fall further, and getting it wrong. I don't recall any big arguments from brexiters that a strong Sterling is good for the economy. I certainly didn't argue it. Sgt Rock has merely pointed out that the fallout from the possible failure of Deutsche Bank would be a run on the Euro.

[chiang mai]

8 minutes ago, Khun Han said:

 

The immediate collapse of the economy was. And it has proven to be wholly wrong. The only thing remainers have to cling to is the falling pound. And they are playing that for all they can. Economists of distinction are now coming out and saying that Sterling is finding it's correct level away from it's association with the EU, and it's new value will be good for the economy as a whole.

 

On the subject of brexiters and currency rates, most of the argument on here was about remainers on here almost willing it to quickly fall further, and getting it wrong. I don't recall any big arguments from brexiters that a strong Sterling is good for the economy. I certainly didn't argue it. Sgt Rock has merely pointed out that the fallout from the possible failure of Deutsche Bank would be a run on the Euro.

 

There you go yet again, "The only thing remainers have to cling to is the falling pound. And they are playing that for all they can". Who is "they", these so called remainers, is it one person and if so whom, or is it everyone who didn't vote for Brexit? Because I'm certainly not a remainer and I didn't vote for Brexit, can you get your mind around that, all your doing is creating divisions in the argument rather than anything constructive, seems you need to label everyone which is nonsense.

 

It was said at the outset that the Pound would fall in the event of Brexit, everyone knew that was the case albeit you and Rock said it would recover quickly. Now you're saying you never argued for a strong Pound ergo you must have been arguing for a weaker one, Jesus wept!

 

And yes, Sterling is finding its correct level and it will be for the next two years I reckon as it falls further, that is widely understood and accepted in the field of economics.

[SheungWan]

16 minutes ago, Khun Han said:

 

The immediate collapse of the economy was. And it has proven to be wholly wrong. The only thing remainers have to cling to is the falling pound. And they are playing that for all they can. Economists of distinction are now coming out and saying that Sterling is finding it's correct level away from it's association with the EU, and it's new value will be good for the economy as a whole.

 

On the subject of brexiters and currency rates, most of the argument on here was about remainers on here almost willing it to quickly fall further, and getting it wrong. I don't recall any big arguments from brexiters that a strong Sterling is good for the economy. I certainly didn't argue it. Sgt Rock has merely pointed out that the fallout from the possible failure of Deutsche Bank would be a run on the Euro.

 

The 'only thing'? For expats on sterling incomes the currency is the biggest thing and no amount of spinning is going to get away from that. Looking forwards, the practical lesson that should be learned by sterling expats is that they must protect themselves and begin to hedge against sterling volatility if they haven't done so already.

[Khun Han]

2 minutes ago, chiang mai said:

 

There you go yet again, "The only thing remainers have to cling to is the falling pound. And they are playing that for all they can". Who is "they", these so called remainers, is it one person and if so whom, or is it everyone who didn't vote for Brexit? Because I'm certainly not a remainer and I didn't vote for Brexit, can you get your mind around that, all your doing is creating divisions in the argument rather than anything constructive, seems you need to label everyone which is nonsense.

 

It was said at the outset that the Pound would fall in the event of Brexit, everyone knew that was the case albeit you and Rock said it would recover quickly. Now you're saying you never argued for a strong Pound ergo you must have been arguing for a weaker one, Jesus wept!

 

And yes, Sterling is finding its correct level and it will be for the next two years I reckon as it falls further, that is widely understood and accepted in the field of economics.

 

We've been down this road before. Remainers on here, including yourself believe that you have exclusive rights to insulting, condescending debate (I note that you 'liked' the infantile going back to bed post by the troll Grouse  ) and keep demanding the opposite from remainers. Pathetic.

 

The extent of my commentaries on Sterling prices has been to point out failed predictions by remainers. Not sure why Jesus would weep at my pointing these failed predictions out. Anyway, Sterling is now moving toward where remainers said it would be months ago, so remainers on here can finally gloat (which they are doing). The shine has been taken off it by hugely respected economists saying Sterling's level is no bad thing, so there have been attempts to shoot the messenger.

[billd766]

1 hour ago, chiang mai said:

 

I don't see it that way myself, I've accepted that we're leaving and as far as I personally am concerned I'm looking to the future of Brexit. But I do think when something like the falls in the Pound happen and people try and tell me that it's orchestrated vengeance or manipulation by traders, it's all a bit too much.

 

TBH I have no idea why the GBP falls and falls lately.

 

Is there a conspiracy? If so then who would gain?

[SheungWan]

6 minutes ago, Khun Han said:

 

We've been down this road before. Remainers on here, including yourself believe that you have exclusive rights to insulting, condescending debate (I note that you 'liked' the infantile going back to bed post by the troll Grouse  ) and keep demanding the opposite from remainers. Pathetic.

 

The extent of my commentaries on Sterling prices has been to point out failed predictions by remainers. Not sure why Jesus would weep at my pointing these failed predictions out. Anyway, Sterling is now moving toward where remainers said it would be months ago, so remainers on here can finally gloat (which they are doing). The shine has been taken off it by hugely respected economists saying Sterling's level is no bad thing, so there have been attempts to shoot the messenger.

 

One can gloat (sometimes called 'bragging rights') if one has achieved something. Making a call gets you nothing if you don't have skin in the game. Unhedged expat sterling holders have lost out irrespective of which economists they wish to line up behind them. There will, of course, be those expats in Thailand who think their sterling loss is a good thing, but they should be avoided like the plague when it comes to planning for the future. Brexiteers are bad for a sterling expat's financial health. No two ways about it. Find a new friend that doesn't talk financial gobbledeegook.

[NCC1701A]

note to self.

don't retire until I manage to save 800,000 baht.

 

[Grouse]

Oh dear, SgtRock again

 

1) Before the referendum, Sterling was steadily sliding. Look at a 1 year graph. I know this is the case because I got out of Sterling just in time. Immediately before the referendum there was an uplift when the polls pointed toward remain followed by a sharp sell off. There was then a period of some stability until Mrs May showed her knickers at the Conservative conference and wiped 5% of Sterling at a stroke (stupid bitch). You see, the smart money had seen how to square the circle. But no, May had to please the right wing Tory nutters.

 

2) Deutsche Bank certainly have problems for multiple reasons including interest rates and fines. (As do Barclays, RBS and HSBC). But don't confuse with Deutsche Bundesbank, the German central bank. DB will not go down however much you might wish it because of its interconnectedness. They are liquidating assets and if necessary, The German government will take 25% according to Die Zeit (there is a loophole according to the definition of being under pressure but solvent). So, in short, DB will survive if slightly bruised.

 

Now, what interests me is your schadenfreude. Why, SgtRock are you so negative about all things Europe? You once told us about your linguistic skills and I can't help but wonder if you maybe Islamic?  Just a bit maybe? Where are you from?

Edited October 11, 2016 by Grouse

[Khun Han]

1 minute ago, SheungWan said:

 

One can gloat (sometimes called 'bragging rights') if one has achieved something. Making a call gets you nothing if you don't have skin in the game. Unhedged expat sterling holders have lost out irrespective of which economists they wish to line up behind them. There will, of course, be those expats in Thailand who think their sterling loss is a good thing, but they should be avoided like the plague when it comes to planning for the future. Brexiteers are bad for a sterling expat's financial health. No two ways about it. Find a new friend that doesn't talk financial gobbledeegook.

 

As I have said to you before, we all understand your point, you make it often enough. Maybe you should ask the mods for a thread to discuss it, because it just isn't even close to being a major point in the bigger picture of Sterling or brexit.

[Anythingleft?]

1 hour ago, SheungWan said:

it is a highly positive outcome for the British economy, of course accompanied with the pie in the sky promise that sterling will recover at some mythical point in the future

Completely taken out of context, beneficial for the exports is not a reflection of the economy as a whole

And yes I do feel confident that the currency will become strong again, can you verify that it will not?

[ilostmypassword]

2 minutes ago, Anythingleft? said:

Completely taken out of context, beneficial for the exports is not a reflection of the economy as a whole

And yes I do feel confident that the currency will become strong again, can you verify that it will not?

I feel confident that Jesus will return soon.  Can you verify that he will not?

[Anythingleft?]

1 minute ago, ilostmypassword said:

I feel confident that Jesus will return soon.  Can you verify that he will not?

Hopefully he does maybe he fix the ?><_+ up that has been created because all the people in the world bitching and moaning about it won't help any

[SheungWan]

2 minutes ago, Khun Han said:

 

As I have said to you before, we all understand your point, you make it often enough. Maybe you should ask the mods for a thread to discuss it, because it just isn't even close to being a major point in the bigger picture of Sterling or brexit.

 

Ha-ha: 'bigger picture of sterling'. Loosely translated this means, 'Screw you expats, you're just collateral damage'. Well, we sort of know that by now after endless beating about the bush by our resident forum Brexiteers. Mind you, they don't like being reminded of the reality of this and wish that those reminding and pointing out their negative impact on expats would just go away or preferably still, embrace the financial losses with a happy pill, just like them.

[SheungWan]

7 minutes ago, Anythingleft? said:

Completely taken out of context, beneficial for the exports is not a reflection of the economy as a whole

And yes I do feel confident that the currency will become strong again, can you verify that it will not?

 

Your crystal balls (discounted 12%+) hold very little interest. Pig in a poke.

[Grouse]

33 minutes ago, Khun Han said:

 

We've been down this road before. Remainers on here, including yourself believe that you have exclusive rights to insulting, condescending debate (I note that you 'liked' the infantile going back to bed post by the troll Grouse  ) and keep demanding the opposite from remainers. Pathetic.

 

The extent of my commentaries on Sterling prices has been to point out failed predictions by remainers. Not sure why Jesus would weep at my pointing these failed predictions out. Anyway, Sterling is now moving toward where remainers said it would be months ago, so remainers on here can finally gloat (which they are doing). The shine has been taken off it by hugely respected economists saying Sterling's level is no bad thing, so there have been attempts to shoot the messenger.

 

Kindly refrain from calling me a troll. I believe the statements I make.

 

The debate this morning was indeed rather facile.

 

Now if you wish to debate the pros and cons of currency strength, go ahead. My, untrained opinion is that a weak pound is NOT the ideal situation for a net importer. We should not have to rely upon low prices to sell goods but rather design, functionality and quality. I used to think about 1.5 USD per GBP was about right. The Sterling collapse reflects the market's view of the UK's predicament. Many believed we could have our cake and eat it. Would have required some deft footwork but do-able. Looks like we won't negotiate anything useful now. We are just inviting the worst possible result.

[rockingrobin]

Great quote from Luxembourg PM

 “Before, they were in and they had many opt-outs; now they want to be out with many opt-ins.

http://www.politico.eu/article/luxembourg-pm-xavier-bettel-eu-countries-should-shut-schengen-borders-to-teach-lesson/?

[Khun Han]

31 minutes ago, ilostmypassword said:

I feel confident that Jesus will return soon.  Can you verify that he will not?

 

I did  warn in a previous discussion that remainers are like Seventh Day Adventists. I didn't realise that some of actually are .

[Grouse]

6 minutes ago, rockingrobin said:

Great quote from Luxembourg PM

 “Before, they were in and they had many opt-outs; now they want to be out with many opt-ins.

http://www.politico.eu/article/luxembourg-pm-xavier-bettel-eu-countries-should-shut-schengen-borders-to-teach-lesson/?

 

Sadly, it looks like May's amazing band of Brexiteers don't want anything. Fools