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Re: £ Could Collapse in Weeks!!
Originally Posted by slapphead_otool
(Post 8389358)
The odd thing is there are people reading this right now who laugh and say “that can’t happenâ€.
Such dismal events can and do happen. History is full of such examples. They only thing stopping them is careful management. When that is thrown out of the window economic failure is assured. It is like giving the dog control of the household budget. He spends the rent on bones and balls. |
Re: £ Could Collapse in Weeks!!
What makes me fall about is that for donkey's years the high and the mighty have told us - the unwashed - quite correctly that printing money translates into inflation.
Now, all of a sudden, "economic stimulus" and "QE" have no effect on inflation. Who's kidding who? |
Re: £ Could Collapse in Weeks!!
Originally Posted by Wol
(Post 8389361)
What makes me fall about is that for donkey's years the high and the mighty have told us - the unwashed - quite correctly that printing money translates into inflation.
Now, all of a sudden, "economic stimulus" and "QE" have no effect on inflation. Who's kidding who? |
Re: £ Could Collapse in Weeks!!
It says something about your currency when foreign exchange dealers are even prepared to swap it for the Zimbabwean dollar. Yet this was the pitiful fate of sterling yesterday as it suffered its biggest rout on the currency markets for more than a year. (Source).Apart from the pastings received at the hands of the US dollar and the euro, sterling also fell by more than 1.7 per cent against Zimbabwe’s much-mocked paper, completing a decline of more than 7 per cent since the end of January. Some economists are convinced that this could be the start of a sterling rout, with investors losing confidence in Britain’s resolve to tackle the gaping hole in its public finances. The weakness of sterling over the past two years has been welcomed by Mervyn King, Governor of the Bank of England, as a boost for exporters. So investors believe the authorities will do nothing to shore up the currency. |
Re: £ Could Collapse in Weeks!!
Originally Posted by Wol
(Post 8389361)
What makes me fall about is that for donkey's years the high and the mighty have told us - the unwashed - quite correctly that printing money translates into inflation.
Now, all of a sudden, "economic stimulus" and "QE" have no effect on inflation. Who's kidding who? I think it's too early so say that QE hasn't caused inflation. |
Re: £ Could Collapse in Weeks!!
Originally Posted by MartinLuther
(Post 8389461)
Who's kidding whom, surely? :D (only kidding)
I think it's too early so say that QE hasn't caused inflation. |
Re: £ Could Collapse in Weeks!!
Originally Posted by slapphead_otool
(Post 8389358)
The odd thing is there are people reading this right now who laugh and say “that can’t happenâ€.
Such dismal events can and do happen. History is full of such examples. They only thing stopping them is careful management. When that is thrown out of the window economic failure is assured. |
Re: £ Could Collapse in Weeks!!
Originally Posted by Deutschmaster
(Post 8389360)
I'm glad my savings are in Aussie dollars for the time being. :)
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Re: £ Could Collapse in Weeks!!
The Bank of England has just announced that it will be selling 3 year bonds in US DOLLARS!!!!!!!!!! :eek::eek:
If this isn't a sign that the £ is doomed then christ knows what is. It's not looking good people!!!!! :eek::eek::eek: http://www.bloomberg.com/apps/news?p...d=ajn9bRRPp2q0 |
Re: £ Could Collapse in Weeks!!
Originally Posted by pomtastic
(Post 8389711)
The Bank of England has just announced that it will be selling 3 year bonds in US DOLLARS!!!!!!!!!! :eek::eek:
If this isn't a sign that the £ is doomed then christ knows what is. It's not looking good people!!!!! :eek::eek::eek: http://www.bloomberg.com/apps/news?p...d=ajn9bRRPp2q0 I am sorry its come to this. :( |
Re: £ Could Collapse in Weeks!!
Originally Posted by pomtastic
(Post 8389711)
The Bank of England has just announced that it will be selling 3 year bonds in US DOLLARS!!!!!!!!!! :eek::eek:
If this isn't a sign that the £ is doomed then christ knows what is. It's not looking good people!!!!! :eek::eek::eek: http://www.bloomberg.com/apps/news?p...d=ajn9bRRPp2q0 Mind you the USD is every bit as vulnerable as GBP in the medium to long term. |
Re: £ Could Collapse in Weeks!!
Originally Posted by freebo
(Post 8389730)
Hmm interesting, thanks for the info I need to digest that one, they must be doing it to make the bonds more attractive as they are taking on the currency risk, the alternative would have been to pay a higher yield on the bonds. In these topsy tervy markets (they've been falling on good news & rising on bad), the GBP seems to have caught a small bid & is rallying on the news :confused: at least for now.
Mind you the USD is every bit as vulnerable as GBP in the medium to long term. They must assume that the USD and the pound are getting near to cross currency stability. If not they ill be hit by exchange rate costs. |
Re: £ Could Collapse in Weeks!!
Originally Posted by slapphead_otool
(Post 8389755)
I was thinking the same thing, it must be to avoid paying a higher premium on the bond.
They must assume that the USD and the pound are getting near to cross currency stability. If not they ill be hit by exchange rate costs. |
Re: £ Could Collapse in Weeks!!
Meanwhile, just as you thought it could get no worse:
The European Union is drawing up plans for its first direct tax with a "green" levy on petrol, coal and natural gas that could cost British consumers up to £3 billion. http://www.telegraph.co.uk/news/worl...fuel-levy.html Put your hand in your pockets lads……. |
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