The Euro is Tanking

[hugh2121]

The real surprise is that this flawed currency did not tank shortly after it's creation.

[Naam]

56 minutes ago, hugh2121 said:

The real surprise is that this flawed currency did not tank shortly after it's creation.

the currency €UR is not flawed but basically an excellent idea. flawed is that it's used by countries which shouldn't have qualified. and the fact prevails that the €UR is today stronger against major currencies such as Dollar and Pound.

 

the usual €UR bashing is nothing but irrelevant bla-bla.

[Naam]

2 hours ago, bangon04 said:

Where is Naam when we need him........

here Sir, reporting!

[Naam]

On 11/14/2016 at 8:14 AM, smedly said:

Euro against sterling has dropped about 6% in the last week and sterling is hardly the golden boy right now

looking at GBP EUR for those living in Thailand is irrelevant. what counts are the exchange rates Sterling / Thai Baht and EUR / Thai Baht. that not for the last week but for the last year. and then you find out that Sterling is the big loser.

 

by the way, correct would be to state that Sterling is recovering from a low and not EUR dropping vs. Sterling.

 

sorry to be a pain in the àss.

[Gary A]

The gloom and doom liberals were preaching that the dollar would drop like a rock if Trump was elected. I had no idea what would happen to the dollar so I made a sizable wire transfer from my US bank to my Thai bank. Like everything else, they were wrong. I have since lost a considerable amount of money. Don't get me wrong, I am not blaming the rabid democrats, I have only myself to blame.

[smedly]

1 hour ago, Naam said:

looking at GBP EUR for those living in Thailand is irrelevant. what counts are the exchange rates Sterling / Thai Baht and EUR / Thai Baht. that not for the last week but for the last year. and then you find out that Sterling is the big loser.

 

by the way, correct would be to state that Sterling is recovering from a low and not EUR dropping vs. Sterling.

 

sorry to be a pain in the àss.

the euro actually dropped in near enough parity with sterling against the thai baht after brexit referendum, it is only very recent that the euro gained some strength against sterling which has somewhat eroded in the last week

[smedly]

18 minutes ago, Gary A said:

The gloom and doom liberals were preaching that the dollar would drop like a rock if Trump was elected. I had no idea what would happen to the dollar so I made a sizable wire transfer from my US bank to my Thai bank. Like everything else, they were wrong. I have since lost a considerable amount of money. Don't get me wrong, I am not blaming the rabid democrats, I have only myself to blame.

get yourself a dollar account with a thai bank and convert it straight back, your loss will be minimal, I converted my sterling to baht over 3 years ago at a price around 54 and converted my thai baht back to sterling at around 42 so I now have sterling sitting in my FCD Thai account which can be used for extension of stay even though it is in sterling (it is still in a Thai account) - this enables me to ride out the brexit process and fluctuations that are likely over the next 2 years or so, I can convert it back to thai baht as and when I want online with Bangkok bank

[Naam]

3 hours ago, smedly said:

the euro actually dropped in near enough parity with sterling against the thai baht after brexit referendum, it is only very recent that the euro gained some strength against sterling which has somewhat eroded in the last week

the lowest after Brexit vote was 1.10xx, today we are at 1.16xx.

 

 

 

 

[crackhouseparty]

18 minutes ago, Naam said:

the lowest after Brexit vote was 1.10xx, today we are at 1.16xx.

 

I'm sensing a sting in the tail for EUR post the upcoming elections where I foresee a rather obvious far-right dominance.  I have little in the way of political leanings but it's bound to hurt the EUR.

Edited November 15, 2016 by crackhouseparty

[Naam]

6 minutes ago, crackhouseparty said:

 

I'm sensing a sting in the tail for EUR post the upcoming elections where I foresee a rather obvious far-right dominance.  I have little in the way of political leanings but it's bound to hurt the EUR.

there might indeed be a sting. but not because of the negligible far-right dominance but because of a left dominance block (Social Democrats, Greens and Linke).

 

for a global investor EURo and Sterling are anyway useless because of limited asset choices.

Edited November 15, 2016 by Naam

[tutsiwarrior]

11 hours ago, jacko45k said:

I detect a Scottish edge to that post!

 

nah..not scottish...just nationalist, and anti - EU like Marine le Pen and Geert Wilders and the rest of the alt - right racist, fascist bastids...

 

the SNP and the rest of the scots wanna stay in the EU and have rejected brexit...

 

I know...I'm an honorary glaswegian...

[hugh2121]

23 hours ago, Naam said:

looking at GBP EUR for those living in Thailand is irrelevant. what counts are the exchange rates Sterling / Thai Baht and EUR / Thai Baht. that not for the last week but for the last year. and then you find out that Sterling is the big loser.

 

by the way, correct would be to state that Sterling is recovering from a low and not EUR dropping vs. Sterling.

 

sorry to be a pain in the àss.

 

Today 1 EUR =  1.0754 USD

 

 

[Naam]

34 minutes ago, hugh2121 said:

Today 1 EUR =  1.0754 USD

so what? the facts i mentioned pertaining to GBP THB and EUR THB still apply to retirees in Thailand. 

[hugh2121]

21 minutes ago, Naam said:

so what? the facts i mentioned pertaining to GBP THB and EUR THB still apply to retirees in Thailand. 

 

True, but the exchange rate rate over the last 3+ months has nothing to do with normal market activity. It is solely due to UK opting to eventually leave the EU. The markets have been premature in marking down both currencies as UK is still a full member of the EU and will remain so for at least another 2 years. In other words, nothing has changed except the money market's premature reaction to a vote. The stock markets had a knee jerk reaction but have corrected that.

[Naam]

1 minute ago, hugh2121 said:

True, but the exchange rate rate over the last 3+ months has nothing to do with normal market activity. It is solely due to UK opting to eventually leave the EU.

i posted a graph pertaining to a comment Pound/EURo. my latest comments referred to Pound/Baht and EURo/Baht, which currency fared better over the last one year and that for retirees in Thailand GBP/EUR is irrelevant. take a look at EUR/Baht stable, Pound/Baht minus 20%.

 

 

 

[Kabula]

On 11/14/2016 at 4:59 PM, crackhouseparty said:

 

Winners and losers, my friend.  You've just got to guess the forthcoming winners then you're quids in.  I recently guessed The Donald and my bank balance is sufficiently replenished. 

If your referring to the US$, you no doubt will be in for a big surprise.

 

History always repeats itself and all bubbles burst fast!

 

The US $ vs the THB is near a ten year high and beginning to retreat.

 

Gold just retreated dramatically, so I suspect as it climbs there will be massive short squeezes causing the dollar to retreat dramatically.

 

Trump will not be sworn in for about 2 1/2 months.  A lot can happen and he will have his hands full early on. Change takes a long time;  especially worldwide, financial problems.

 

Oh, and all paper currencies have failed, many over 40 years!

 

Sorry to rain on your parade.

 

Never keep you stack in one basket and never invest in another man's business like a bank!

 

The old saying goes if you want to rob a bank, own one!

 

Just ask a prior Officer of Bangkok Bank that ran with the cash many years ago and ended up in prison.

[KhunBENQ]

The Trump shockwave was THE chance for a good EUR/THB rate

Nov 9, 5h UTC / 12h Thai time when the Trump victory became irrevocable.

Very short lived but a a mate in Pattaya noticed a quick swing in rates on that day.