Pound drops to lowest level since 1985

[Laughing Gravy]

6 minutes ago, ilostmypassword said:

You're not a second class citizen of Thailand. You're not a Thai citizen of any description. You're a resident alien.

Semantics with words. I assumed people understood what I meant. I was referring to not been equal with Thai citizens unlike many are in the UK from the EU. Happy.

[rockingrobin]

36 minutes ago, Laughing Gravy said:

Saudi Arabia is totally different and the treatment of women. Have you lived there I have.  Your other examples again are not what I was getting at.

I am a second class citizen in Thailand. I have no voting rights, can't own land and have to apply for my visa every year. What would you call it? I am not mistreated in Thailand. I am not treated as an equal and called an alien. I just have to follow the law and rules. Where am I condoning mistreatment?

You are a supporter of  discrimination , all the examples quoted aptly fit

[JB300]

Semantics with words. I assumed people understood what I meant. I was referring to not been equal with Thai citizens unlike many are in the UK from the EU. Happy.

In some ways EU citizens are treated better than UK citizens (e.g bringing their non-EU spouse over to live, access to NHS even if they've lived outside of the UK/ EU for more than 6 months).

[SheungWan]

1 hour ago, Laughing Gravy said:

I have to say that I find many remainers on here like children who are in a competition against their friends/family etc. They lose and then start crying. They will support any other team as long as the team that they lost against are knocked out.

I find lots of remainers want to see the UK in financial meltdown and in an Armageddon just so they can justify that they were right, even if the UK is brought to its knees. What a sad state of affairs that is.

 

Well as Mervyn King says the lower pound is good for Britain.

To those who want to the crash of the UK I am glad the majourity of people had the sense to get out of the EU.

 

 

I notice the agitated conspiracy theories starting to rev up a little more now. Instead of confronting sterling's dive, the Brexiteers laughingly try to blame the opposition for the downward slide. Maybe we have been all wishing it down holding hands around an ouija board. So now they have found someone they can line up behind, Mervyn King who says the lower pound is better for the UK. Really? So maybe the Brexiteers should get their narrative together because they are now peddling 2 contradictory messages. The first message is that sterling down is good for the UK, but the second message is that sterling down is a mistake and will bounce back very, soon. Mutual incoherence. Which one is it chaps? My money is that the lot of you are going to continue with both stories. Economics is hardly your strong point now is it? So why bother with a consistent point. Why not indeed.

Edited October 11, 2016 by SheungWan

[chiang mai]

1 hour ago, Laughing Gravy said:

I have to say that I find many remainers on here like children who are in a competition against their friends/family etc. They lose and then start crying. They will support any other team as long as the team that they lost against are knocked out.

I find lots of remainers want to see the UK in financial meltdown and in an Armageddon just so they can justify that they were right, even if the UK is brought to its knees. What a sad state of affairs that is.

 

Well as Mervyn King says the lower pound is good for Britain.

To those who want to the crash of the UK I am glad the majourity of people had the sense to get out of the EU.

 

 

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.

[Laughing Gravy]

1 minute 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.

Chang Mai not at all. I just wish there was less scare mongering, doom and gloom and the remainers accept that the British people have voted to leave and accept it. That's all I ask.

[rockingrobin]

13 minutes ago, JB300 said:

 

 

In some ways EU citizens are treated better than UK citizens (e.g bringing their non-EU spouse over to live, access to NHS even if they've lived outside of the UK/ EU for more Han 6 months).


Sent from my iPhone using Tapatalk

 

 

A British national can bring  their non EU spouse to the UK and access the NHS

[chiang mai]

3 minutes ago, Laughing Gravy said:

Chang Mai not at all. I just wish there was less scare mongering, doom and gloom and the remainers accept that the British people have voted to leave and accept it. That's all I ask.

 

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

[JB300]

A British national can bring  their non EU spouse to the UK and access the NHS

It's easier for an EU national to bring their spouse over to the UK based on an EU residency cert/card than it is for a UK national to go through the UK FLR/ILR process (for starters they don't have to meet the financial or "Knowledge of the UK" criteria).

A UK citizen who's lived outside of the UK for more than 6 months is not entitled to NHS treatment unless they show that they're resettling in the U.K... in fact it's worse as they're actually liable for 1.5x the cost of treatment.

Edit: to add link http://www.telegraph.co.uk/finance/personalfinance/expat-money/11713544/Expat-families-torn-apart-by-UK-visa-requirements.html

[Grouse]

12 minutes ago, rockingrobin said:

A British national can bring  their non EU spouse to the UK and access the NHS

 

Incorrect. There is no automatic right to do so.

[Anythingleft?]

4 minutes ago, chiang mai said:

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

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

[chiang mai]

1 minute 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

 

Even today it's being dismissed as scaremongering, still. We have one poster who refers to the fall as being money men who are profiteering, another who thinks it's all a plot by the Remain camp to make the country fail, there's no end to the nonsense.

 

And I don't think the expats in Thailand are really "I'm all right", they are angry and they have a right to be because their lives have been turned upside down, they can see that the UK economy will shrink as a result of all this, sadly, many who voted from Brexit still don't understand that.

[Anythingleft?]

1 minute ago, chiang mai said:

Even today it's being dismissed as scaremongering, still. We have one poster who refers to the fall as being money men who are profiteering, another who thinks it's all a plot by the Remain camp to make the country fail, there's no end to the nonsense.

 

And I don't think the expats in Thailand are really "I'm all right", they are angry and they have a right to be because their lives have been turned upside down, they can see that the UK economy will shrink as a result of all this, sadly, many who voted from Brexit still don't understand that.

Understood and not disagreeing with the above, all events create loss and profit for people, that's the cycle, and yes I do feel sorry for people living on incomes such as pensions that have been hit very hard. That's not to say that because the majority voted for something albeit not a vast majority they should not be heard, and the actions should follow to implement the vote however upsetting it may be for some

There will always be winners and losers, the important factor should be to move forward and create the best situation for the UK as as a whole

You will never ever please everyone

[ilostmypassword]

12 minutes ago, chiang mai said:

 

Even today it's being dismissed as scaremongering, still. We have one poster who refers to the fall as being money men who are profiteering, another who thinks it's all a plot by the Remain camp to make the country fail, there's no end to the nonsense.

 

And I don't think the expats in Thailand are really "I'm all right", they are angry and they have a right to be because their lives have been turned upside down, they can see that the UK economy will shrink as a result of all this, sadly, many who voted from Brexit still don't understand that.

There's a question usually posed by the left, "What's an economy for?"  In the case of the UK, it may well be that the economy, in aggregate will be fine.  But if you break it down by class, most agree that it's going to be hard on those who earn less.

[Grouse]

Due to low level of debate this morning, I'm going back to bed.

 

Cable at 1.232

 

 

[SgtRock]

11 hours ago, SheungWan said:

 

Ground Control to Major Tom.

 

The only people who need to be calling outer space are those that have their heads jammed so far up their backside that they cannot, or, are too blind to see the damage that the failure of DB will bring about to the euro and the EZ.

 

But there is no problem with DB, despite denials being issued by both DB and the German Government that bail out / in talks have never happened.  We all know how honest and honourable denial statements are, especially from Governments and Banks.

 

No reason whatsoever for this catastrophic fall. Its all good when you cannot see past the end of your nose.

 

 

The ripple effect will be catastrophic, starting with the collapse of Commerzbank and spreading further afield.

 

The German Government cannot intervene due to EU Law and the follow on effect in Greece, Spain, Italy  and also Portugal to a lesser extent.

 

Sit back, eat your popcorn and watch what happens to Sterling when this happens. Alternatively, keep taking your medication.

 

 

Edited October 11, 2016 by SgtRock

[SgtRock]

37 minutes ago, chiang mai said:

Even today it's being dismissed as scaremongering, still. We have one poster who refers to the fall as being money men who are profiteering, another who thinks it's all a plot by the Remain camp to make the country fail, there's no end to the nonsense.

 

So it is beyond your comprehension that the major currency traders could not, or would not influence the price of a  currency for their own ends ?

 

You need to take your head out of the clouds.

Edited October 11, 2016 by SgtRock

[sanemax]

6 minutes ago, SgtRock said:

 

So it is beyond your comprehension that the major currency traders could not, or would not influence the price of a  currency for their own ends ?

 

You need to take your head out of the clouds.

 

   Although there are strict rules in place to prevent insider trading and manipulation of the markets

[RuamRudy]

8 hours ago, SheungWan said:

 

I feel sympathy for the guys 100% exposed to sterling and have lost out, but putting the blame tail on the Brexit donkey (richly though it may be deserved) is not going to bring those losses back. In addition, if you continue to be all-in on sterling then you might find yourself involuntarily yoked to that donkey for some time to come. Assuming that you have choices to make (and not all do) then attempting to take some control of the situation rather than politicking is the way to go. You need to hedge away from sterling. This is the one thing that Brexiteers will not do. Don't make the same mistake again by sitting on your hands.

 

Unfortunately, 28 years with a UK company, seconded to the middle east - my salary is fixed in GBP and automatically converted to local (ME) currency and paid locally. Short of leaving the only employer I have ever had, I am screwed unless they take action here to assuage the situation.

[SgtRock]

1 hour ago, sanemax said:

 

   Although there are strict rules in place to prevent insider trading and manipulation of the markets

 

 

Yep, rules are never broken are they, especially by big business, or where there is £ millions to be made in bonuses.

 

Ongoing Libor prosecutions are testament to that. As are the ongoing prosecutions of a whole raft of other infractions by other Financial Institutions.

 

Old adage.

 

                                               '' Rules are for fools ''

 

Generally aimed at the little people who are not in a position to do anything other than abide by the rules, the same rules which large institutions pay £ Millions in fee's to avoid.

 

We should all rub our hands in glee in the knowledge that the vast army of accountants and legal eagles are paying their fair share in tax ( ) whilst going all out to avoid their clients doing the same.

 

Edited October 11, 2016 by SgtRock

[sanemax]

2 minutes ago, SgtRock said:

 

 

Yep, rules are never broken are they, especially by big business, or where there is £ millions to be made in bonuses.

 

Ongoing Libor prosecutions are testament to that. As are the ongoing prosecutions of a whole raft of other infractions by other Financial Institutions.

 

Old adage.

 

                                               '' Rules are for fools ''

 

Generally aimed at the little people who are not in a position to do anything other than abide by the rules, the same rules which large institutions pay £ Millions in fee's to avoid.

 

We should all rub our hands in glee in the knowledge that the vast army of accountants and legal eagles are paying their fair share in tax ( ) whilst going all out to avoid their clients doing the same.

 

 

   You changed the subject from currency market manipulation to tax avoidance .

People and Companies getting prosecuted for financial irregularities show that there are rules and laws in place to stop those irregularities .

[RuamRudy]

5 minutes ago, SgtRock said:

 

 

Yep, rules are never broken are they, especially by big business, or where there is £ millions to be made in bonuses.

 

Ongoing Libor prosecutions are testament to that. As are the ongoing prosecutions of a whole raft of other infractions by other Financial Institutions.

 

Old adage.

 

                                                                  '' Rules are for fools ''

 

Generally aimed at the little people who are not in a position to do anything other than abide by the rules, the same rules which large institutions pay £ Millions in fee's to avoid.

 

We should all rub our hands in glee in the knowledge that the vast army of accountants and legal eagles are paying their fair share in tax ( ) whilst going all out to avoid their clients doing the same.

 

 

Similar to another saying, 'fool me once, shame on you, fool me twice, shame on me.'

 

So our genius Brexiteer politicians take us in a situation that makes us ripe for manipulation and exploitation by those with the means to, and the track record for doing so, then they scratch their heads in surprise when we get shafted by said currency manipulators?

[SgtRock]

19 minutes ago, sanemax said:

 

   You changed the subject from currency market manipulation to tax avoidance .

People and Companies getting prosecuted for financial irregularities show that there are rules and laws in place to stop those irregularities .

 

Yes there are rules and laws in place.

 

Another old adage

 

                                                            Rules are made to be broken

                                           Especially when there is a fast buck to be made

 

Rules and Laws are only as good as good as the people willing to uphold them. Otherwise they are as much use as an t!ts on a f!sh. Regardless of what those rules and laws pertain to.

Edited October 11, 2016 by SgtRock

[chiang mai]

2 hours ago, SgtRock said:

 

So it is beyond your comprehension that the major currency traders could not, or would not influence the price of a  currency for their own ends ?

 

You need to take your head out of the clouds.

 

So you're suggesting that one day, right around the time of the referendum, a whole bunch of currency traders got together in the pub after work and said hey, what shall we do tomorrow? I know said one, let's tank the Pound and make a whole bunch of funny, what do you think? Yeah, sounds fab, let's do it!! And the very next day just as referendum votes were being counted they executed their plan, whoosh went the Pound, right down the pan, so pleased were they that they decided to repeat the process at regular intervals until we arrived at today and BOE sat back and said nothing. Barking, absolutely barking.

 

I'm putting you back on ignore again, there's just no hope for you and you still don't know how to debate. Goodbye!

 

 

[Grouse]

Yes, poor SgtRock just doesn't understand! Unbelievable!

 

Where the numpty flavour of Brexiteers go wrong is that they can not understand a nuanced argument. They have to fight, and frequently lose, every point. As a result, they just lose total credibility. Sad really ?

Edited October 11, 2016 by Grouse

[Grouse]

You see, take the falling pound. Now if I were an exporter (part of the 10% of U.K. Economy in manufacturing) I would welcome a weak pound. Stuff the rest of the country (a net importer - witness the trade deficit) because my business is up.

 

The numpties don't understand that not all Brexiteers are numpties. Some are cynical opportunist bastards who would sell their grandmothers. They probably believe May's empty rhetoric about the Conservatives being a party for all.

 

In general, the UK can not win by devaluation. Other countries can always go lower.

 

So, net result is that the lower echelons will, as always, carry the can.

[Grouse]

Take Mervyn King for example. Does he give a stuff about the average man? I can tell you that he is heavily influenced by the FTSE100 which loves a weak pound for reasons already explained....

Edited October 11, 2016 by Grouse
Silly first name

[Laughing Gravy]

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.

Edited October 11, 2016 by Laughing Gravy
3 double posts removed

[JB300]

Less than one euro to the pound at many UK airports http://www.bbc.com/news/business-37609114

"The worst rate is currently 88 euro cents at Moneycorp at Southampton"...robbing barstewards!!!

[SgtRock]

1 hour ago, chiang mai said:

So you're suggesting that one day, right around the time of the referendum, a whole bunch of currency traders got together in the pub after work and said hey, what shall we do tomorrow? I know said one, let's tank the Pound and make a whole bunch of funny, what do you think?

 

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.

 

1 hour ago, chiang mai said:

I'm putting you back on ignore again, there's just no hope for you and you still don't know how to debate. Goodbye!

 

 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.