Pound drops to lowest level since 1985

[ilostmypassword]

Well, I remember before when the pro-Brexiters were confidently predicting that Germany would never impose Tariffs on the UK because of its importance to the German auto industry. I haven't heard a peep about that from the pro-Brexiters in quite a while.

[ilostmypassword]

2 minutes ago, Grouse said:

 

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

Not true. They want out, no matter what the cost.

[chiang mai]

1 hour ago, billd766 said:

 

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

 

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

 

As described earlier, GBP falls in value when large investments mature or come due, these can be investments or loans to say government, hundreds of millions or more. At maturity the fund holder makes a decision to reinvest in Sterling or play safe in say USD, if they chose the latter they will sell GBP for USD and that causes Sterling to fall. This will go on for quite sometime.

[Khun Han]

39 minutes ago, Grouse said:

 

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.

 

Quit the childish insults and condescention toward brexiters in thise discussions and you'll stop being a troll. It's that simple.

 

Sterling should be worth $1.50? The International Monetary Fund disagrees with you. This is what they said in a report last Febuary:

 

 

cr1658.pdf

Edited October 11, 2016 by Khun Han

[Khun Han]

4 minutes ago, ilostmypassword said:

Well, I remember before when the pro-Brexiters were confidently predicting that Germany would never impose Tariffs on the UK because of its importance to the German auto industry. I haven't heard a peep about that from the pro-Brexiters in quite a while.

 

Would you care to list which specific tariffs they have lined up. Showboating in advance of negotiations is not the same thing by the way.

[NanLaew]

6 hours ago, sanemax said:

 

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

But the rules don't apparently apply to computer 'algorithms' that are allegedly the cause of the recent spurious dumping of the pound by far-east based markets that was apparently only arrested by human intervention. That as yet unexplained 'glitch' resulted in an almost instantaneous 6% slide. These traders and brokers with their forecasts based on 'experience' are being negated by software and how it's being either mismanaged, misapplied or otherwise blamed for something that we know already exists.

[ilostmypassword]

4 minutes ago, Khun Han said:

 

Would you care to list which specific tariffs they have lined up. Showboating in advance of negotiations is not the same thing by the way.

The same tariffs that the rest of the world is subject to.   As has been repeatedly pointed out, if the EU gives the UK a break, then every member state is going to want the same breaks. So it's in the interests of those who want to keep the EU intact, not to give in to Britain. Also, any breaks given to the UK would have to be agreed to by all the EU members.  Not likely. So the default state is by far the most likely outcome.

I should add that I don't think Brexit will be an economic disaster for the UK as a whole.  Mostly it will hurt lower income people who will be disproportionately affected by the rising cost of food and energy.

Edited October 11, 2016 by ilostmypassword

[chiang mai]

1 hour 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.

 

And we'll no doubt go down it again as long as you keep creating divisions by allocating people into convenient slots, despite being told that they are no such thing any longer, case in point, me! Actually I'm pretty certain the reason you are in this debate has nothing to do with the referendum and is much more about wanting to maintain past divisions and make sure the rifts don't get healed, your behaviour certainly suggests that. And your paranoia about me liking Grouse's going back to bed post amazes, it was funny I thought, no doubt you (and only you) saw another hidden reason for my like

[Khun Han]

51 minutes ago, Grouse said:

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?

 

And above is the standard remainer patois: Britain's problems are catastrophic; Germany and the EU's problems are just local difficulties that will be sorted out. All stated with extreme confidence and nothing more than crystal ball gazing.

[Khun Han]

3 minutes ago, chiang mai said:

 

And we'll no doubt go down it again as long as you keep creating divisions by allocating people into convenient slots, despite being told that they are no such thing any longer, case in point, me! Actually I'm pretty certain the reason you are in this debate has nothing to do with the referendum and is much more about wanting to maintain past divisions and make sure the rifts don't get healed, your behaviour certainly suggests that. And your paranoia about me liking Grouse's going back to bed post amazes, it was funny I thought, no doubt you (and only you) saw another hidden reason for my like

 

It was the same reason that you continue to 'like' and agree with posters who post insults about and toward brexiter posters. They won't move on, and you, by the stuff that you post and 'like' show that you won't either, despite your claim.These debates will only become civil when certain remainers become civil.

[Khun Han]

8 minutes ago, ilostmypassword said:

The same tariffs that the rest of the world is subject to.   As has been repeatedly pointed out, if the EU gives the UK a break, then every member state is going to want the same breaks. So it's in the interests of those who want to keep the EU intact, not to give in to Britain. Also, any breaks given to the UK would have to be agreed to by all the EU members.  Not likely. So the default state is by far the most likely outcome.

I should add that I don't think Brexit will be an economic disaster for the UK as a whole.  Mostly it will hurt lower income people who will be disproportionately affected by the rising cost of food and energy.

 

Ah, so no proper answer then.

[ilostmypassword]

Just now, Khun Han said:

 

Ah, so no proper answer then.

They don't have to line up any tariffs at all. If negotations fail, those tariffs automatically come into play. Your assertion that they're just showboating is based on what evidence?  It's just wishful thinking that flies in the face of what the Europeans are saying and why they're saying it. Once again, if they let the UK off the hook, why would other net contributing nations want to stay in EU? Your position doesn't make sense.

[Khun Han]

5 minutes ago, ilostmypassword said:

They don't have to line up any tariffs at all. If negotations fail, those tariffs automatically come into play. Your assertion that they're just showboating is based on what evidence?  It's just wishful thinking that flies in the face of what the Europeans are saying and why they're saying it. Once again, if they let the UK off the hook, why would other net contributing nations want to stay in EU? Your position doesn't make sense.

 

Don't pretend to be naive. Nobody goes into negotiations saying "I'll give you everything you want".

[SheungWan]

19 minutes ago, NanLaew said:

But the rules don't apparently apply to computer 'algorithms' that are allegedly the cause of the recent spurious dumping of the pound by far-east based markets that was apparently only arrested by human intervention. That as yet unexplained 'glitch' resulted in an almost instantaneous 6% slide. These traders and brokers with their forecasts based on 'experience' are being negated by software and how it's being either mismanaged, misapplied or otherwise blamed for something that we know already exists.

 

First of all sterling is now vulnerable to lurches downwards. This is a fact after the Brexit vote. Secondly Theresa May's antics at the Tory Party Conference which occurred in the week preceding the crash informed the markets that soft Brexit was off the table. bad sign. Thirdly, even after the crash, sterling did not recover all of the dive and in fact remains vulnerable. Sterling today is below $1.23. Follow the money.

Edited October 11, 2016 by SheungWan

[NanLaew]

23 minutes ago, Khun Han said:

 

And above is the standard remainer patois: Britain's problems are catastrophic; Germany and the EU's problems are just local difficulties that will be sorted out. All stated with extreme confidence and nothing more than crystal ball gazing.

And yours could be standard Brexiteer patois, no? 

 

You claim Britain's problems are catastrophic. Fine. That's your take. I don't agree with it at all but accept that is your view. So why try and trash another reasonably balanced debate that has gone for over two dozen pages before you chimed in with your insistence on challenging everyone in person when their opinion contradicts yours?

 

18 minutes ago, Khun Han said:

 

It was the same reason that you continue to 'like' and agree with posters who post insults about and toward brexiter posters. They won't move on, and you, by the stuff that you post and 'like' show that you won't either, despite your claim.These debates will only become civil when certain remainers become civil.

Why are you counting the 'likes' that someone with the opposite view gets? Making little lists are we? The last quite lively Brexit related debate was closed when it turned into a pointless, personal and puerile p!ssing contest between only a few individuals. Welcome back.... you know who you are.

 

17 minutes ago, Khun Han said:

 

Ah, so no proper answer then.

And there you have it once again. Hands over ears, blah, blah, blah.... not what I want to hear, you're all wrong, wrong, wrong (but dammit he's getting more likes than me!)

 

I'm seriously reconsidering my opinion of grouse (and he's a bloody Yorkshireman) in light of you and the Sgt's inability to see when your buttons are being pushed... as well as his repeating nonsensical claims about the collapse of some dodgy German bank being some sort of means to an EU end. It is his opinion and he's entitled to it but why does it become some sort of mantra; the stuff of almost every post?

Edited October 11, 2016 by NanLaew

[SheungWan]

34 minutes ago, Grouse said:

 

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

 

31 minutes ago, ilostmypassword said:

Not true. They want out, no matter what the cost.

 

The markets have certainly not been impressed by the shambolic message and has put even further pressure on sterling.

[SgtRock]

7 hours ago, sanemax said:

 

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

 

Hot off the press

 

Quote

The Monetary Authority of Singapore has ordered a Swiss merchant bank to close and fined two other banks for breaching anti-money laundering controls.

 

http://www.bbc.com/news/business-37615251

 

Tell me again about those strict rules, regulations and laws.

[ilostmypassword]

1 minute ago, SgtRock said:

 

Hot off the press

 

 

http://www.bbc.com/news/business-37615251

 

Tell me again about those strict rules, regulations and laws.

You have just provided proof that those strict laws exist. And institutions that break them get severely punished.

[Naam]

3 hours 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.

whatever you listed is irrelevant pertaining to "DB going belly-up causing a global financial Armageddon" according to the gloom&doomers. i don't have to read sensational conclusions making headlines. as an experienced investor i add the factual information derived from "Lehman 2008" and use the sum to arrive at the most likely logical result. that's not rocket science but it requires some basic understanding of finance and financial terms. if you are really interested look for another Thaivisa thread "Deutsche Bank" where a qualified TV-member (Fletchsmile) shed some light on the globally spread of ridiculous journalistic rubbish.

 

found it!

 

 

Edited October 11, 2016 by Naam
adding link

[Grouse]

59 minutes ago, Khun Han said:

 

Quit the childish insults and condescention toward brexiters in thise discussions and you'll stop being a troll. It's that simple.

 

Sterling should be worth $1.50? The International Monetary Fund disagrees with you. This is what they said in a report last Febuary:

 

 

cr1658.pdf

 

Thank you for the IMF info. Interesting reading and I note the comments about depreciation. I wonder what the next report will say? Things have changed dramatically since February. In particularly the relaxing of monetary policy and the risk to FDI which appears key to me.

[SgtRock]

1 hour ago, Grouse said:

Now, what interests me is your schadenfreude. Why, SgtRock are you so negative about all things Europe?

 

Here we have the classic example of the highly educated remainer, who berates and tries to ridicule others, levels accusations of being uneducated at anyone who happens to support a Brexit.

 

But does not have the required amount of brain cells needed to work out the difference between Europe and the EU.

 

Just for your info. Sterling has been on a downward slide against the $ since 2007. 

 

I took a hit then when it was $ 2 = £ 1 without whinging about it. I am loving it now. Swings and roundabouts.

[Khun Han]

22 minutes ago, NanLaew said:

And yours could be standard Brexiteer patois, no? 

 

You claim Britain's problems are catastrophic. Fine. That's your take. I don't agree with it at all but accept that is your view. So why try and trash another reasonably balanced debate that has gone for over two dozen pages before you chimed in with your insistence on challenging everyone in person when their opinion contradicts yours?

 

Why are you counting the 'likes' that someone with the opposite view gets? Making little lists are we? The last quite lively Brexit related debate was closed when it turned into a pointless, personal and puerile p!ssing contest between only a few individuals. Welcome back.... you know who you are.

 

And there you have it once again. Hands over ears, blah, blah, blah.... not what I want to hear, you're all wrong, wrong, wrong (but dammit he's getting more likes than me!)

 

I'm seriously reconsidering my opinion of grouse (and he's a bloody Yorkshireman) in light of you and the Sgt's inability to see when your buttons are being pushed... as well as his repeating nonsensical claims about the collapse of some dodgy German bank being some sort of means to an EU end. It is his opinion and he's entitled to it but why does it become some sort of mantra; the stuff of almost every post?

 

Eh??? It might be an idea to read a post properly before replying to it. In the first post you quoted, I was condensing and paraphrasing the remainer stance. That's what the colon was for .

 

The rest of your reply isn't worth a response. There's more than enough of that type pf silliness coming from other posters on here. I expect posters of a certain ilk will now chime in to offer their support for your personal attack. Some people are just like that.

 

I will note, though, that you think that Grouse likes to push other posters' buttons. It's called trolling - something that I've already identified in him .

[Naam]

17 minutes ago, SgtRock said:

Quote

The Monetary Authority of Singapore has ordered a Swiss merchant bank to close and fined two other banks for breaching anti-money laundering controls.

 

http://www.bbc.com/news/business-37615251

 

Tell me again about those strict rules, regulations and laws.

 

this has nothing to do with manipulation of any market. it's a case of money laudering (embezzlement of 1 billion Dollars from the Malaysian state fund 1MDB).

[Khun Han]

16 minutes ago, ilostmypassword said:

You have just provided proof that those strict laws exist. And institutions that break them get severely punished.

 

And that institutions do break them. Which was the point of Sgt Rock's post.

[Grouse]

55 minutes ago, Khun Han said:

 

And above is the standard remainer patois: Britain's problems are catastrophic; Germany and the EU's problems are just local difficulties that will be sorted out. All stated with extreme confidence and nothing more than crystal ball gazing.

 

Just when I thought we had a bright contributor to discuss things sensibly with, you knock down my reasoned and researched arguments. Now would you like to discuss the issues or are you just going to continue trolling? ?

[Grouse]

56 minutes ago, Khun Han said:

 

It was the same reason that you continue to 'like' and agree with posters who post insults about and toward brexiter posters. They won't move on, and you, by the stuff that you post and 'like' show that you won't either, despite your claim.These debates will only become civil when certain remainers become civil.

 

I speak as I find. If someone runs a numptyish comment up the flag pole, they can expect a suitable response. Post reasonable comments and I will return the favour ?

[Khun Han]

2 minutes ago, Grouse said:

 

Just when I thought we had a bright contributor to discuss things sensibly with, you knock down my reasoned and researched arguments. Now would you like to discuss the issues or are you just going to continue trolling? ?

 

And on they go with the condescension and insults. My point was that they confidently present speculation about how things are going to pan out as established fact, and then want to take the discussion 'forward' from there.

 

Present some compelling facts that the speculation is going to come to fruition, and we have the start of a discussion.

[Khun Han]

3 minutes ago, Grouse said:

 

I speak as I find. If someone runs a numptyish comment up the flag pole, they can expect a suitable response. Post reasonable comments and I will return the favour ?

 

You speak with condescension and insults. That's not a good way to generate quality debate.

[SheungWan]

Just now, Khun Han said:

 

You speak with condescension and insults. That's not a good way to generate quality debate.

 

Poor Diddums. .....meanwhile, back at the sterling ranch its not looking any better this week. Good for Brexit though, right? I do believe I am getting the hang of this.

[Khun Han]

21 minutes ago, Grouse said:

 

Thank you for the IMF info. Interesting reading and I note the comments about depreciation. I wonder what the next report will say? Things have changed dramatically since February. In particularly the relaxing of monetary policy and the risk to FDI which appears key to me.

 

Here is an article about the IMF view at the end of July:

 

http://www.telegraph.co.uk/business/2016/07/27/pound-remains-overvalued-despite-last-months-sharp-fall-imf-warn/