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1.93's A$ to the Pound!!!

1.93's A$ to the Pound!!!

Old Feb 23rd 2010, 12:36 pm
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Default Re: 1.93's A$ to the Pound!!!

Originally Posted by DownUnderPaddy
It appears Merv opened his mouth again !

Sterling plunges as King warns on money scheme
http://business.timesonline.co.uk/to...cle7037399.ece

Sterling falls after King hints at more QE
http://www.ft.com/cms/s/0/21a8203c-2...44feab49a.html


each and every time, i sit there and watch and say nonononoplease no i think it is all very planned, not that the uk is fine and dandy cos its not
,or he is very stupid and he could do with a bit of rara oz spin on the positive side of the street or they are going to crash it bad if some thing untoward happens
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Old Feb 23rd 2010, 7:41 pm
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Default Re: 1.93's A$ to the Pound!!!

Back up again to 1.73. That really wasn't nice.
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Old Feb 23rd 2010, 7:54 pm
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Default Re: 1.93's A$ to the Pound!!!

Originally Posted by 77hil
Back up again to 1.73. That really wasn't nice.

on the fx sites they are saying mr kings and crew are talking the pound down to keep it low for exporting,
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Old Feb 23rd 2010, 8:37 pm
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Default Re: 1.93's A$ to the Pound!!!

That's exactly their aim and doing a pretty good job on it! But on the whole good for Britain if it can reduce it's trade deficit but only good depending on what side of the fence you are! We are all on the wrong side...

Glad to hear it's gone up a bit!
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Old Feb 23rd 2010, 8:49 pm
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Default Re: 1.93's A$ to the Pound!!!

Originally Posted by koalakim
That's exactly their aim and doing a pretty good job on it! But on the whole good for Britain if it can reduce it's trade deficit but only good depending on what side of the fence you are! We are all on the wrong side...

Glad to hear it's gone up a bit!

never new jot about fx trading,but now understand most of what is going on not all by long shot,but six to eight months reading and watching on daily basis gives a girl a good insight,
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Old Feb 23rd 2010, 9:14 pm
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Default Re: 1.93's A$ to the Pound!!!

Originally Posted by charlie brown
on the fx sites they are saying mr kings and crew are talking the pound down to keep it low for exporting,
It could be worse than that, one theory is that several countries are involved in "competitive devaluation", basically if you owe large amounts in your own currency, but the value of that currency drops by half then the debt is twice as easy to pay off, and lots of western countries, including the UK have very big overseas debts. Printing more of your currency is likely to make it go down in value.

http://www.guardian.co.uk/commentisf...lobalrecession

http://www.economicshelp.org/diction...valuation.html

Last edited by freebo; Feb 23rd 2010 at 9:23 pm.
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Old Feb 23rd 2010, 9:45 pm
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Default Re: 1.93's A$ to the Pound!!!

Originally Posted by freebo
It could be worse than that, one theory is that several countries are involved in "competitive devaluation", basically if you owe large amounts in your own currency, but the value of that currency drops by half then the debt is twice as easy to pay off, and lots of western countries, including the UK have very big overseas debts. Printing more of your currency is likely to make it go down in value.

http://www.guardian.co.uk/commentisf...lobalrecession

http://www.economicshelp.org/diction...valuation.html
it looks like you may be right it's been going on for quite awhile
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Old Feb 23rd 2010, 10:24 pm
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Default Re: 1.93's A$ to the Pound!!!

I'd say that Messrs King et al are keeping the pound low not so much for exports but because they're not in a position to raise it.

QE doesn't create any new money it spreads the existing money more thinly. By creating more pounds without expanding the economy the government has basically borrowed money from everyone that holds pounds. Until the economy starts generates real wealth to back up the QE generated pounds or they start destroying the QE generated pounds then the exchange rate will remain low.
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Old Feb 23rd 2010, 10:41 pm
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Default Re: 1.93's A$ to the Pound!!!

[quote=MartinLuther;8369149]I'd say that Messrs King et al are keeping the pound low not so much for exports but because they're not in a position to raise it.

QE doesn't create any new money it spreads the existing money more thinly. By creating more pounds without expanding the economy the government has basically borrowed money from everyone that holds pounds. Until the economy starts generates real wealth to back up the QE generated pounds or they start destroying the QE generated pounds then the exchange rate will remain low.[/uote]


maybe not so sure but who knows, fx sites suggest that they are trying to control the gbp as much as they can by rumor but this is just a theory that is just like everyone else but thats the one they are running with at the mo
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Old Feb 24th 2010, 12:36 am
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Default Re: 1.93's A$ to the Pound!!!

be 1.80 again b4 we know it and I'll be kicking myself I never bought £ vs A$ at 1.71 as I already am and that was only yesterday!
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Old Feb 24th 2010, 12:48 am
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Default Re: 1.93's A$ to the Pound!!!

Originally Posted by MrCro
be 1.80 again b4 we know it and I'll be kicking myself I never bought £ vs A$ at 1.71 as I already am and that was only yesterday!
Probley go up and down like tarts knickers, will I get told off for that comment
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Old Feb 24th 2010, 12:58 am
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Default Re: 1.93's A$ to the Pound!!!

Originally Posted by charlie brown
Probley go up and down like tarts knickers, will I get told off for that comment
of course not! I've said alot worse about the £ vs A$ situation over the last 18 months!!!

I became obsessed with all this but now I have my first baby on the way it's kinda put it all in perspective!

All 3 of us will still go to Oz and my little family of £'s will stay in UK until worth something!
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Old Feb 24th 2010, 1:27 am
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Default Re: 1.93's A$ to the Pound!!!

Originally Posted by MartinLuther
QE doesn't create any new money.
It does create new money. QE doesn't involve literally printing more notes but by purchasing treasuries the central bank literally magics up money out of thin air.

http://en.wikipedia.org/wiki/Quantitative_easing
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Old Feb 24th 2010, 2:29 am
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Default Re: 1.93's A$ to the Pound!!!

Originally Posted by freebo
It could be worse than that, one theory is that several countries are involved in "competitive devaluation", basically if you owe large amounts in your own currency, but the value of that currency drops by half then the debt is twice as easy to pay off, and lots of western countries, including the UK have very big overseas debts. Printing more of your currency is likely to make it go down in value.

http://www.guardian.co.uk/commentisf...lobalrecession

http://www.economicshelp.org/diction...valuation.html
the dowside of this is as the currency devalues the needed imports grow in cost - i.e. oil. Remember the fuel protests of a few years back.
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Old Feb 24th 2010, 4:25 am
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Default Re: 1.93's A$ to the Pound!!!

Originally Posted by renth
It does create new money. QE doesn't involve literally printing more notes but by purchasing treasuries the central bank literally magics up money out of thin air.

http://en.wikipedia.org/wiki/Quantitative_easing
Paper notes or numbers in a computer; it's the same thing. It's a representation of money. By printing more notes or just adding numbers to a computer you are not creating more money you're just creating more representations of the existing money (or wealth). That's why if you do print more money or add more numbers to a computer the currency devalues. Each individual note or digit in a computer becomes worth less.
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