Pound drops to lowest level since 1985

[SheungWan]

9 hours ago, SheungWan said:

 

If there is one thing Brexiteers cannot be faulted on, it is their myriad collection of crystal balls.

 

34 minutes ago, i claudius said:

 

But yours is much better?

 

Yes. It is made out of dollars.

[i claudius]

49 minutes ago, SheungWan said:

 

 

Yes. It is made out of dollars.

Mine is here in Thai baht , this Brexiter brought lots of money over beforehand .

[sandyf]

7 hours ago, SheungWan said:

 

The problem with some of the forum Brexit guys is that their research extends no further than copying that which they think chimes into their pre-cast opinions. So, in this example when we are considering Otmar Issing, he has some scathing words to say about the development of the EU. Indeed, but when he spoke in London directly on the issue of Brexit he said:

'When it comes to the referendum, I do hope that fear of getting into uncertainty will prevail over illusionary hopes connected with Brexit'.

 

Exactly, we could all join in.

http://www.independent.co.uk/voices/tesco-unilever-row-brexit-marmite-conspiracy-theories-brexiteers-ignorance-how-markets-work-a7363946.html

[sandyf]

No wonder she does not want to let on what the plan is.

http://www.independent.co.uk/news/business/news/brexit-single-market-theresa-may-to-pay-billions-for-access-report-a7365226.html

 

'Soft Brexit' - the brexiteers worst nightmare, out of the EU and on the subs bench, free movement and EU fees still in force.

[sandyf]

1 hour ago, chiang mai said:

The Pound is looking more perky this morning, "it's holding its own" they tell us, SW appears to have called that one correctly. With that in mind I found this which I think is sensible:

 

Drop in the dollar index this morning.

[Grouse]

13 minutes ago, sandyf said:

Delusional, investors would just look to the other 5 reserve currencies.

 

Sadly, looks like that will not include Sterling for much longer

http://www.independent.co.uk/news/business/news/pound-value-currency-status-brexit-dollar-euro-latest-a7360956.html

 

Not that the numpties will care.

 

Hey ho, hey ho it's off to work we go. Pity we cannot afford Marmite for breakfast anymore, but at least we've got our Sovereignty! Haven't we Mrs May? Mrs May? Are you there????Hello....

 

[SheungWan]

9 minutes ago, i claudius said:

Mine is here in Thai baht , this Brexiter brought lots of money over beforehand .

 

How shall we put it? Your deeds appear the truth, your thoughts therefore mere fripperies.

[Grouse]

10 minutes ago, sandyf said:

No wonder she does not want to let on what the plan is.

http://www.independent.co.uk/news/business/news/brexit-single-market-theresa-may-to-pay-billions-for-access-report-a7365226.html

 

'Soft Brexit' - the brexiteers worst nightmare, out of the EU and on the subs bench, free movement and EU fees still in force.

 

Yes, so this gives a clue as to why Sterling is holding up at least temporarily. I've said all along that there was a pragmatic solution that would be acceptable to all...Good news!

[happy Joe]

3 hours ago, Laughing Gravy said:

I agree that they wouldn't let Greece out but if the Euro crashed and flattened out, it would be interesting to see how many countries would 'jump ship' and get back their old currencies. Or if a few of the bigger hitters such as France, Italy, Holland etc, had new leaders and far right ones at that. It would only take a few countries to see the Euro be defunct as a currency.

 

 

But if the euro is flattened ...

For now it is the pound which crushed. It is even the subject of this thread.

To meditate to drive you gently to a more modest attitude.

 

Edited October 18, 2016 by happy Joe

[Naam]

33 minutes ago, Grouse said:

 

Sadly, looks like that will not include Sterling for much longer

http://www.independent.co.uk/news/business/news/pound-value-currency-status-brexit-dollar-euro-latest-a7360956.html

 

Not that the numpties will care.

 

Hey ho, hey ho it's off to work we go. Pity we cannot afford Marmite for breakfast anymore, but at least we've got our Sovereignty! Haven't we Mrs May? Mrs May? Are you there????Hello....

 

why would the United Kingdom pay billions for EU access? hasn't Sargent Rock proved beyond reasonable doubt that the dominoes will soon start falling and the EU disintegrating? is it a matter of marmite?

[chiang mai]

1 hour ago, SgtRock said:

 

All these people are either:

 

A. Closet Brexiteers.

 

B. Uneducated buffoons.

 

C. Non of the above and are bang on the money.

 

http://www.cer.org.uk/publications/archive/report/2016/has-euro-been-failure

 

http://www.pitbulleconomics.com/euro_crash.htm

 

http://fortune.com/2015/08/03/eu-fail-greece/

 

 

https://newrepublic.com/article/136124/an-utter-failure-joseph-stiglitz-euro-europes-uncertain-future

 

http://www.express.co.uk/news/politics/721930/Euro-European-Union-collapse-single-currency-Otmar-Issing

 

https://www.bloomberg.com/view/articles/2015-07-06/why-the-euro-is-failing

 

https://www.theguardian.com/commentisfree/2015/jun/22/greece-eurozone-germans-single-currency

 

http://www.straitstimes.com/opinion/the-european-union-expanded-too-fast-and-will-probably-fail-lee-kuan-yew-said-back-in-2012

 

Tick Tock said the clock.

 

The collapse of the euro will bring about the collapse of the EU. This collapse will be very ugly. The UK, by putting a big buffer zone between itself and the EU now, will be in a position to reap the rewards when this happens.

 

Sterling is taking a hit now. How much is Sterling going to soar when other current EZ members do not even have a currency.

 

Try reading, digesting and looking past the end of your noses.

 

 

You appear to be just as illogical and misguided when it comes to the EU as you were on the Deutsche Bank issue! Whether or not the EU collapses and when, is of no real concern to me, but certainly Sterling wouldn't benefit as a result, investors looking for a new home for currency would almost certainly go into USD at this stage or into another reserve currency that had some stability associated with it and some chance of going up rather than down. Frankly however, if it was almost impossible for Greece alone to return to the Drachma, it's a sure bet that the full twenty six countries wouldn't be able to manage the task, ergo the Euro will remain in some shape or form, probably forever. So whilst I think you might be headed in broadly the right direction by saying that something significant could happen to the EU at some point, you really do need to adjust your outcome scenarios along with some/all of the detail and probably timescales also.

[Laughing Gravy]

48 minutes ago, Grouse said:

 

Sadly, looks like that will not include Sterling for much longer

http://www.independent.co.uk/news/business/news/pound-value-currency-status-brexit-dollar-euro-latest-a7360956.html

 

Not that the numpties will care.

 

Hey ho, hey ho it's off to work we go. Pity we cannot afford Marmite for breakfast anymore, but at least we've got our Sovereignty! Haven't we Mrs May? Mrs May? Are you there????Hello....

 

Grouse are you hitting the sauce, as you get more confrontational as the night/day goes on.

Either way shop at Asda marmite is cheaper. If Marmite is a loss of the product of the wonderful things you mention, such as sovereignty then I will take that.

 

The article again is a lot of could be maybe, possibly. Some people were saying the baht to the pound would be below 40 by now. Well it isn't.

[chiang mai]

1 hour ago, i claudius said:

Mine is here in Thai baht , this Brexiter brought lots of money over beforehand .

 

Great, but what if this all lasts longer than the year, as is planned?

 

 

[i claudius]

51 minutes ago, chiang mai said:

 

Great, but what if this all lasts longer than the year, as is planned?

 

 

So if it lasts longer ,i will lose out , but i will still win because it was never about the money it was about being free of the E.U  and we are , so remain away , WE WON .

[Grouse]

21 minutes ago, Laughing Gravy said:

Grouse are you hitting the sauce, as you get more confrontational as the night/day goes on.

Either way shop at Asda marmite is cheaper. If Marmite is a loss of the product of the wonderful things you mention, such as sovereignty then I will take that.

 

The article again is a lot of could be maybe, possibly. Some people were saying the baht to the pound would be below 40 by now. Well it isn't.

 

Yes, you're absolutely correct! A 500g pot of black gold is indeed 2p cheaper at Azda than Tesco. The whole point of my post is thus defeated at a stroke. O me miserum! ?

[Laughing Gravy]

1 minute ago, Grouse said:

 

Yes, you're absolutely correct! A 500g pot of black gold is indeed 2p cheaper at Azda than Tesco. The whole point of my post is thus defeated at a stroke. O me miserum! ?

Please do not flatter yourself.

[Grouse]

6 minutes ago, Laughing Gravy said:

Please do not flatter yourself.

 

It was irony (the opposite of steely)

[RuamRudy]

33 minutes ago, i claudius said:

 WE WON .

 

It seems like the penny is starting to drop, however, and a new word is entering our lexicon. The Bregretters are those who voted to leave but are now realising just how Pyrrhic your victory is.

 

Brexit: If EU referendum was held again Remain would win due to 'Bregret', official figures reveal

[JB300]

 
I do not believe that that a method of getting Greece out of the EZ was ever even attempted.
 
I believe that the vast sums of money that have been thrown, and continues to be thrown at Greece was a method of keeping Greece in the EZ. 
 
There was no intention of allowing Greece out of the EZ with the potential to start a snowball effect.
 
Just as is happening now with Brexit. All sorts of threats / Court Cases are ongoing in a bid to keep the UK in the EU. 
 
The EU A - Holes know that they are on a hiding to nothing once the 1st starters gun is fired. leaving the EZ or EU is the catalyst for the domino effect.
 
Those with their snouts deeply embedded in the trough are only to aware of this.

I was referring to the practicalities of 27 nations suddenly moving from 1 currency to their own.

You would have to have a period of time in which both currencies were accepted (so the Euro would still be accepted everywhere) but the local currencies would find their own levels of exchange against it as soon as they were floated meaning you'd effectively have 27 different kinds of Euro when it came to purchasing power.

As I said, it would be a logistical nightmare & I don't see how they could pull it off without maintaining currency parity across all the countries until the Euro was no longer legal tender which is simply not tenable.

I honestly can't see how they can get the Euro "back in the jar" & mentioned Greece as there was a lot of talk about them doing it but from what I read, no actual workable solution.


Maybe all the Euro countries could join Sterling instead (for the avoidance of doubt I'm joking!!!)

[AlexRich]

12 hours ago, MJP said:

 

Euro 'house of cards' to collapse, warns ECB prophet

 

http://www.telegraph.co.uk/business/2016/10/16/euro-house-of-cards-to-collapse-warns-ecb-prophet/

 

Some countries should not be in the Euro, Greece for one, and they would be better off in the long term outside of it. I can forsee a scenario where a few countries pull out ... but that does not constitute a collapse.

 

Another point ... if the EU were to collapse the UK will be severely damaged ... whether in or out of the EU.

 

 

[Laughing Gravy]

14 hours ago, Xircal said:

 

Nothing new there. The European Court of Justice already mandated in September 2015 that EU migrants can be refused welfare in any EU state and not just Germany until they've been resident in the country for five years. It also applies to the UK while the country remains an EU member state.

That word can again. Well tell that to the UK people who see EU citizens and others claiming welfare and getting housing, often ahead of them. It is this reason amongst others that really irritates people ,as their fathers and forefathers have paid into a system that others are clearly manipulating and benefiting from.

[Khun Han]

3 hours ago, Grouse said:

 

Rock, kindly explain the roots of all your anti EU ranting. Did you have a nasty experience as a youngster? Is it an Islamic thing?

 

I mean, you just go on and on....

 

Have you ever lived and had a proper job and a proper family in an EU country?

 

You see, I hope for the best. Why do you so obviously hope for the worst with such glee?

 

You remainers really don't like the EU's problems being discussed, do you? We even had one clown a couple of weeks ago trying to close off discussion of Deutche Bank's problems as offtopic!

 

Brexiters scour the media looking for good news about the UK going forward. Remainers scour the media looking for bad news (nearly always speculation by some think tank-or-other), and always do their level best to downplay the good news, but they're hoping for the best .

[rockingrobin]

15 hours ago, Xircal said:

 

Nothing new there. The European Court of Justice already mandated in September 2015 that EU migrants can be refused welfare in any EU state and not just Germany until they've been resident in the country for five years. It also applies to the UK while the country remains an EU member state.

 

7 minutes ago, Laughing Gravy said:

That word can again. Well tell that to the UK people who see EU citizens and others claiming welfare and getting housing, often ahead of them. It is this reason amongst others that really irritates people ,as their fathers and forefathers have paid into a system that others are clearly manipulating and benefiting from.

But you are missing the point, the ability to refuse EU migrants welfare exists, if national governments fail to exercise that power it is their failure and not the EU

[Laughing Gravy]

Yes I have read it and not missing any point. This is only a recent ruling. So what about the previous years when the EU citizens were claiming benefits and still are?  I agree the UK should now invoke the ruling but better still leave the 'interfering busy bodies' that Brussels are and let the UK make its own rules. This is a great example why the UK must leave the EU telling the country who it should and shouldn't allow benefits. It shouldn't have a say in the first place.

 

https://www.rt.com/uk/346621-eu-court-migrant-benefits/

 

https://www.ein.org.uk/news/european-court-justice-rules-uk-can-withhold-benefits-eu-migrants-without-right-reside

[pitrevie]

3 hours ago, i claudius said:

So if it lasts longer ,i will lose out , but i will still win because it was never about the money it was about being free of the E.U  and we are , so remain away , WE WON .

 

Really so you actually know what the results of the final negotiation looks like. We will no longer be part of the single market, no longer paying contributions, free movement of labour out and no longer subject to the rules which we will take no part in framing. I had no idea that things were so advanced.

[Laughing Gravy]

36 minutes ago, Khun Han said:

 

You remainers really don't like the EU's problems being discussed, do you? We even had one clown a couple of weeks ago trying to close off discussion of Deutche Bank's problems as offtopic!

 

Brexiters scour the media looking for good news about the UK going forward. Remainers scour the media looking for bad news (nearly always speculation by some think tank-or-other), and always do their level best to downplay the good news, but they're hoping for the best .

Todays news. Although negative certainly relevant.

 

http://www.express.co.uk/news/world/722015/Mass-exodus-at-Deutsche-Bank-as-it-plans-to-obliterate-US-jobs-amid-collapse-fears

Edited October 18, 2016 by Laughing Gravy

[cumgranosalum]

"Bayonet the wounded all you like, Leavers, but the nation waits to hear your plans. The initiative is yours. We await your proposals and we accept your right – even your duty – to proceed with them. But we want to know what they are. How do you plan to make this thing work? ... We ask because the suspicion grows that none of you has the foggiest. And if that’s true, then you have betrayed the trust of 17 million people who thought you knew. Before the referendum you assumed the mantle of “us” in a revolt against “them” and profited mightily from that assumption. But now you’re in charge. So scream – because the people’s anger will be terrible." - Matthew Parris, reported in the Grauniad.

[Khun Han]

4 minutes ago, Laughing Gravy said:

Todays news. Although negative certainly relevant.

 

http://www.express.co.uk/news/world/722015/Mass-exodus-at-Deutsche-Bank-as-it-plans-to-obliterate-US-jobs-amid-collapse-fears

 

Thanks for that link Gravy (is it Gravy, or Laughing? ). I can't bring myself to 'like' it because Deutsch's slide into oblivion is going to be a disaster for Germany, and the reported 5000 jobs being cut in the US is pretty bad in itself.

[Laughing Gravy]

Just now, Khun Han said:

 

Thanks for that link Gravy (is it Gravy, or Laughing? ). I can't bring myself to 'like' it because Deutsch's slide into oblivion is going to be a disaster for Germany, and the reported 5000 jobs being cut in the US is pretty bad in itself.

I understand KH that's what I was getting at it being negative but it certainly should never been said that the issue isn't relevant.

[Khun Han]

16 minutes ago, cumgranosalum said:

"Bayonet the wounded all you like, Leavers, but the nation waits to hear your plans. The initiative is yours. We await your proposals and we accept your right – even your duty – to proceed with them. But we want to know what they are. How do you plan to make this thing work? ... We ask because the suspicion grows that none of you has the foggiest. And if that’s true, then you have betrayed the trust of 17 million people who thought you knew. Before the referendum you assumed the mantle of “us” in a revolt against “them” and profited mightily from that assumption. But now you’re in charge. So scream – because the people’s anger will be terrible." - Matthew Parris, reported in the Grauniad.

 

Ah yes, Matthew Parris. He's been quite the ardent supporter of remain inbetween his tireless work trying to halt all the investigations into alleged high-up paedophile rings.