Pound drops to lowest level since 1985

[Golden Triangle]

11 hours ago, chiang mai said:

On a practical note, what to do with Pounds held in Blighty for people not needing or wanting them converted to THB at such a low rate? Bank savings rates are pitifully low and the FTSE at 7,000 must be a gamble in the current climate, I know Premium Bonds!

 

A serious question actually, if anyone has sensible thoughts.

 

I have nearly the maximum allowed, as yet I have only ever won low grade prizes, waiting for that e mail that tells me that ERNIE has given it to me big style, I do win a decent enough amount 75 - 100 GBP most months though. 

[evadgib]

45 minutes ago, Golden Triangle said:

 

I have nearly the maximum allowed, as yet I have only ever won low grade prizes, waiting for that e mail that tells me that ERNIE has given it to me big style, I do win a decent enough amount 75 - 100 GBP most months though. 

Check the small print re residency. I found a clause there some years ago, not that mine will ever come up.

 

HTH

Edited October 9, 2016 by evadgib

[JB300]

 
I have nearly the maximum allowed, as yet I have only ever won low grade prizes, waiting for that e mail that tells me that ERNIE has given it to me big style, I do win a decent enough amount 75 - 100 GBP most months though. 

£100 per month is 4% (tax free) on £30,000 so good going at the moment [emoji106]

[Golden Triangle]

32 minutes ago, evadgib said:

Check the small print re residency. I found a clause there some years ago, not that mine will ever come up.

 

HTH

 

Check the small print re residency.

 

I bought mine before I moved here, and as far as anyone that matters IE: Taxman, bank, ERNIE et al I am just on an extended holiday enjoying my twilight years LOL 

[Grouse]

BBC Radio 4

 

Sterling now main opposition to Conservative government.

 

Rapid fall due entirely to May intimating hard Brexit. 

 

100,000 jobs in the city to go

 

American banks will repatriate many city jobs back to New York where they already have Euro clearing rights

 

Hilton (Cameron's pal who defected to Brexit camp) now saying he wouldn't be surprised if Amber Rudd suggested foreign workers getting ID numbers tattooed on their forearms!

 

May being hammered as first prime minister ever not to put the economy first (naivety).

 

London based financial services pointy heads insulted by May's comments on global citizens not being citizens of anywhere.

 

pub time

[teatree]

6 hours ago, Grouse said:

 

Not really. I think many of us were astonished that there are so many poorly informed and under-educated numpties in our midst ?

 

The referendum truely represents the view of the people at the time.

 

'Brexiteers are wrong because I said so,  and they are stupid because they disagree with me, and they are smelly poo heads."

 

This pretty much sums up what you just said.  Why not get away from the school yard and stop throwing lazy insults at people who happen to disagree with you?

[teatree]

6 hours ago, Grouse said:

 

Because, whenever one questions a Brexiteer about their views, their opinions seem to be based on falsehoods and misunderstandings. In short, their decisions do not stand up to reasoned debate UNLESS they resort to casual racism or they admit to having difficulty finding work through lack of education or training. In particular, the lack of understanding about how the EU operates is just embarrassing. And here's the thing, those of us who took a nuanced viewpoint, who realised the decision was complex, find ourselves backed into more entrenched positions than we might otherwise feel. I for one can list several problems with the EU that cause me pause. Sadly it is difficult on TV to have a rational discussion because it becomes swamped with utterly ridiculous comments.

And you don't think Remainers were fed a load of propaganda?  Remember the emergency budget threat?  The endless bombarding of the British public with scare stories about national security, the economy and how the sky would just fall in if we left.

 

There have been falsehoods from both sides.  And the comment about the lack understanding of the EU applies just as much to Remainers as anyone else.

 

In fact, in my own experience the Brexiteers know very well how the EU works.  It is the Remainers who are pretty fuzzy about the actual workings of the EU - they just know it's a bit dodgy and undemocratic - but are happy to ignore that because they might want to go and live in Spain one day.

Edited October 9, 2016 by teatree

[Grouse]

teatree, you just reinforce the opinions that I and several others have about Brexiteers

 

Your arguments are shallow and at least appear uninformed

 

I am not referring to the propaganda from either side. I am talking about facts derived from my own research

 

Incidentally, I think many of the fears expressed are indeed proving to be correct

 

Now, I am entirely happy to debate specific points.

 

So, why don't you explain why you favour the UK leaving the EU?

 

 

[SheungWan]

11 minutes ago, teatree said:

And you don't think Remainers were fed a load of propaganda?  Remember the emergency budget threat?  The endless bombarding of the British public with scare stories about national security, the economy and how the sky would just fall in if we left.

 

There have been falsehoods from both sides.  And the comment about the lack understanding of the EU applies just as much to Remainers as anyone else.

 

In fact, in my own experience the Brexiteers know very well how the EU works.  It is the Remainers who are pretty fuzzy about the actual workings of the EU - they just know it's a bit dodgy and undemocratic - but are happy to ignore that because they might want to go and live in Spain one day.

 

You might want to argue the toss back and forth all weekend but there is absolutely nothing 'fuzzy' about the 12%+ drop in the value of sterling. That is the truth for expats. The interesting little theme emerging from comments by some of the Brexiteers is not that they are contesting the reality of this. Well, they can't really without looking a bit silly. No, it is that they don't care. In the grand order of things the financial interests of expats can be thrown on to the bonfire of a greater good and expats be damned. The more than bit silly ones are expats standing on that side of the fence shooting even themselves in the foot. All in the national interest of course.

[Golden Triangle]

So, inflation (The bad sort of inflation) is due to rise next year, why ? Because many of our High Street stores hedge their currency, come Christmas or early in the New Year those hedged funds will have been used, that means that all goods bought from abroad will cost more, hence prices will rise, this is effectively a tax on the working populations hard earned cash which is totally different to inflation caused by consumers going out and spending their dosh.

 

This really is a serious situation that we (I use the term WE loosely) as I am over here, find ourselves in, sure if the financial services sector is blocked from trading in Europe that is going to be a massive blow to both jobs and the Exchequer, firstly banks and other financial institutions will move their operations away from the city with the resultant loss of jobs and the Exchequer stands to lose appx 10 Billion in tax revenue. AND that is just ONE sector of our economy, what about the car makers ?  Oil revenues have already plummeted, costing 1000's of jobs.

 

We don't export enough even with a weak Pound, I really do see a period of unrest and uncertainty for the next 18 - 24 months.

 

But as long as I can pay my bills, have a few beers and maybe eat out once or twice a week I will consider myself lucky, I would much rather be on a budget in Thailand than the breadline in the UK.

 

I hope, rather in vain I think, that the politicians get their fingers out and start to sort this mess by sending the right signals to the rest of the world and engage in meaningful dialogue with the EU before we're totally scuppered.

[SheungWan]

Just now, Golden Triangle said:

So, inflation (The bad sort of inflation) is due to rise next year, why ? Because many of our High Street stores hedge their currency, come Christmas or early in the New Year those hedged funds will have been used, that means that all goods bought from abroad will cost more, hence prices will rise, this is effectively a tax on the working populations hard earned cash which is totally different to inflation caused by consumers going out and spending their dosh.

 

This really is a serious situation that we (I use the term WE loosely) as I am over here, find ourselves in, sure if the financial services sector is blocked from trading in Europe that is going to be a massive blow to both jobs and the Exchequer, firstly banks and other financial institutions will move their operations away from the city with the resultant loss of jobs and the Exchequer stands to lose appx 10 Billion in tax revenue. AND that is just ONE sector of our economy, what about the car makers ?  Oil revenues have already plummeted, costing 1000's of jobs.

 

We don't export enough even with a weak Pound, I really do see a period of unrest and uncertainty for the next 18 - 24 months.

 

But as long as I can pay my bills, have a few beers and maybe eat out once or twice a week I will consider myself lucky, I would much rather be on a budget in Thailand than the breadline in the UK.

 

I hope, rather in vain I think, that the politicians get their fingers out and start to sort this mess by sending the right signals to the rest of the world and engage in meaningful dialogue with the EU before we're totally scuppered.

 

One item to keep your eye on is the cost of flights out of the UK. Flight fuel is priced in dollars. At some time flight prices may begin to push up so it may be prudent to book earlier if possible.

[Golden Triangle]

5 minutes ago, SheungWan said:

 

One item to keep your eye on is the cost of flights out of the UK. Flight fuel is priced in dollars. At some time flight prices may begin to push up so it may be prudent to book earlier if possible.

 

A valid point, but as I said I am already here so that is one thing less to worry about, but it is going to have an effect in all sorts of areas, and air travel will be one of them for sure.

[Intensified]

16 hours ago, yogi100 said:

 

It's been said it could take 10 years to finally get out of the EU. So be patient.

 

Patience is a virtue,

 

Possess it if you can,

 

It's sometimes found in women,

 

Seldom in a man.

 

In the meantime we must get used to getting less baht for our money. The average Brexiteer could not give a toss about how much money we can afford to give to Thai prostitutes. There are working men in the UK who can't afford a holiday let alone the price of a shag with a tart because of the hordes of Eastern European scabs who've nicked their jobs and livelihoods courtesy of your precious EU.

 

It's a bit too late to bleat now. Those who are bothered about it should have joined the Remain Campaign and canvassed on their behalf before June 23rd.

given what weve seen since the announcement and what ive just described , which 100% will happen you really  actually still think it'll help people with no or little money in the uk  your more stupid than i  ever imagined , because of leaving they will get even poorer and still absolutely no given rational reason for leaving.  Next to Columbias recent vote the uk leaving the eu will go down as one of the most stupid irrational decisions of this century

[nausea]

I agree, still there it is. It's all about face now. We all know it was a teŕrible mistake. Nobody took it seriously.

[Laughing Gravy]

On ‎08‎/‎10‎/‎2016 at 10:49 AM, Grouse said:

 

I am a Yorkshireman, so wrong again!

 

Born in Middlesborough, went to school in Sheffield; it was a long walk, but worth it!

So 65% of Middleborough people voted leave and 51% in Sheffield voted leave and the majourity of Yorkshire besides Harrogate and York (Luvvy counties) voted leave and you could not find one person who voted leave. That I find it difficult to believe.

On ‎08‎/‎10‎/‎2016 at 10:57 AM, Grouse said:

 

Do your self a favour and read up on the EU

 

Clearly room for improved accounting and increased democracy though.

 

[vogie]

2 minutes ago, Laughing Gravy said:

So 65% of Middleborough people voted leave and 51% in Sheffield voted leave and the majourity of Yorkshire besides Harrogate and York (Luvvy counties) voted leave and you could not find one person who voted leave. That I find it difficult to believe.

 

I know for a fact that Yorkshire folk don't ike talking to pompous oafs. Maybe they shunned his survey. ?

[chiang mai]

4 minutes ago, vogie said:

I know for a fact that Yorkshire folk don't ike talking to pompous oafs. Maybe they shunned his survey. ?

 

We Yorkshire men will speak to most people, even thicko's who don't understand economics and get all their facts by reading The Sun and The Express.

[yogi100]

8 hours ago, Grouse said:

teatree, you just reinforce the opinions that I and several others have about Brexiteers

 

Your arguments are shallow and at least appear uninformed

 

I am not referring to the propaganda from either side. I am talking about facts derived from my own research

 

Incidentally, I think many of the fears expressed are indeed proving to be correct

 

Now, I am entirely happy to debate specific points.

 

So, why don't you explain why you favour the UK leaving the EU?

 

 

 

It's about immigration not the economy That's what some people fail to grasp.

 

The majority of Brexiteers were working class people who have not seen a pay rise for years because of under cutting immigrant workers. They've no chance of a decent future, they or their offspring are denied local authority housing because of immigration, educational and medical services are in decline again because of immigration and they feel like second class citizens in the country they once regarded as their own.

 

They see their lives as pretty hopeless so what have they got to lose by wanting to come out of a Europe that insists we take even more of the same immigrants that in their opinion have already blighted their lives in the last few decades.

 

The wealthy have done very nicely out of cheap over abundant labour, they've not.

[vogie]

1 minute ago, chiang mai said:

 

We Yorkshire men will speak to most people, even thicko's who don't understand economics and get all their facts by reading The Sun and The Express.

As a Yorkshireman myself we don't like people with an 'I am superior to you attitude' like a few of the bremoaners on here. And just for the record, we are all brexiteers now!

[pigeonjake]

well im lincolnshire, but only 20miles from yorkshire,

i still get paid in pounds, a very very good wage i might add, ill just keep it in the bank or buy another house,

we live off our farm in thailand, we dont touch my wages at all so it can sit there till it does come back up and it will, i hope,

i still think it will be a better place in the uk if they curb the imigration, im no econamist im a welding inspector, ill leave all that to the experts on here

[Jip99]

2 minutes ago, pigeonjake said:

well im lincolnshire, but only 20miles from yorkshire,

i still get paid in pounds, a very very good wage i might add, ill just keep it in the bank or buy another house,

we live off our farm in thailand, we dont touch my wages at all so it can sit there till it does come back up and it will, i hope,

i still think it will be a better place in the uk if they curb the imigration, im no econamist im a welding inspector, ill leave all that to the experts on here

 

 

There are no experts on here!

 

 

That said, we are no worse than the so called 'experts' out there.

[chiang mai]

29 minutes ago, vogie said:

As a Yorkshireman myself we don't like people with an 'I am superior to you attitude' like a few of the bremoaners on here. And just for the record, we are all brexiteers now!

 

Indeed we are all Brexiteers now and I have supported that concept since the referendum. That doesn't negate the fact that there are thick Brexiteers and Brexiteers who understand what the economic implications of all this are, to deny that or try to sweep the fact under the carpet is sheer folly - that's why we tend to have people at senior government level with degrees from Cambridge et al rather than a single CSE in woodwork from Huddersfield Poly!

Edited October 10, 2016 by chiang mai

[chiang mai]

4 minutes ago, Jip99 said:

 

 

There are no experts on here!

 

 

That said, we are no worse than the so called 'experts' out there.

 

See post 412.

[vogie]

2 minutes ago, chiang mai said:

 

Indeed we are all Brexiteers now and I have supported that concept since the referendum. That doesn't negate the fact that there are thick Brexiteers and Brexiteers who understand what the economic implications of all this are, to deny that or try to sweep the fact under the carpet is sheer folly - that's why we tend to have people at senior government level with degrees from Cambridge et al rather a single CSE in woodwork!

Now I like this post a lot better than your previous post. A lot of the remain lot on here are only happy when they are banding insults about. There are also a lot of "thick" bremoaners about and think they know better than anyone else. I forget who said 'a wise man knows nothing, only a fool thinks he knows all'

[chiang mai]

Just now, vogie said:

Now I like this post a lot better than your previous post. A lot of the remain lot on here are only happy when they are banding insults about. There are also a lot of "thick" bremoaners about and think they know better than anyone else. I forget who said 'a wise man knows nothing, only a fool thinks he knows all'

 

Vogie, you have no obvious sense of humour, which is odd for a Yorkshire man..

[vogie]

Just now, chiang mai said:

 

Vogie, you have no obvious sense of humour, which is odd for a Yorkshire man..

CM, I can assure you I have great sense of humour, better than most, but like most Yorkshire men I dig my heels in when insults are flying.

[vogie]

21 minutes ago, pigeonjake said:

well im lincolnshire, but only 20miles from yorkshire,

i still get paid in pounds, a very very good wage i might add, ill just keep it in the bank or buy another house,

we live off our farm in thailand, we dont touch my wages at all so it can sit there till it does come back up and it will, i hope,

i still think it will be a better place in the uk if they curb the imigration, im no econamist im a welding inspector, ill leave all that to the experts on here

There are no experts on here PJ, only people who think they are. And just for today, you can be an honorary Yorkshireman.

[pigeonjake]

just for today,

i was 20 miles from donny and spent many happy times there with my pigeon buddies

[sandyf]

Reality is kicking in.

 

" The Brussels representatives of some of the largest FTSE 100 companies are finding that calls go unreturned, discussion papers are not shared and invitations to key meetings are no longer extended. One source said: “We’re finding now that nobody will take our calls. Britain is still a member state but we can’t get a hearing.” "

http://www.telegraph.co.uk/business/2016/10/08/brussels-slams-the-door-on-uk-companies/

[sandyf]

Currencies fluctuate all the time as we are constantly reminded by the old timers, nothing to do with leaving the EU.

 

" With the premier signaling that a crackdown on immigration took precedence over membership of the bloc’s single market and European leaders hardening their position, traders responded by driving the pound to its lowest against the dollar since 1985. Following an overnight plunge in Asia, the currency is wrapping up its worst week since the June Brexit vote. "

http://www.bloomberg.com/news/articles/2016-10-07/rude-awakening-in-the-u-k-over-brexit-costs-send-pound-tumbling