Re: Exchange rate
 

[QUOTE=JamesM;8563604]Hay you are the one on here that starts giving financial advice to all and everyone. I am just trying to put the other side to the story, just in case anyone takes any interest in your advice.

Re: Exchange rate
 

It depends how you spend your time.

I wouldn't sit at home twiddling your thumbs.

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The fact that you don't know the difference between debt and deficit means there really is no point in continuing a discussion with you about economics. You are rude and arrogant, but most of all you are muddle headed.

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[QUOTE=Mike Gas;8563632]I was harsh. I apologise.

I have lot's of money in the UK so I am passionate about the subject. The advise I give is based on my knowledge of the two economies. I have an interest in both currencies as I earn in dollars but much of my assets are in pounds.

I read Canadian Business, Forbes, The economist and I have a degree in Accounting and Finance.

It's not so much advise I am trying to give; I am simply telling people how I am managing my own money and why I am doing it in this way. It's a forum so people can form their own minds.

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Great- does that mean you are leaving??? or do we have to put up with more from you???

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It's all very very tentative isnt it?. Will never forget the clause "all things being equal". It means so much yet means nothing.

My quandry is that I have 2 kids at Uni and have to convert to pounds to pay for their fees and expenses. If I convert into pounds now, will it be (A) too early (B) just a little early?

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I don't see anyone else complaining, is your wife not giving it you or something, you seem a little wound up, or are you just a prick?

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It's a fair point. It's your money.....

You either buy all the way into economic theory, some of the way or none of the way.

As said above I am sitting tight with my pounds. Everyone told me I should've sold some shares I had that fell to 1.73 from 5.18 during Quarter 1 of 2009. Instead I bought another thousand pounds worth. Today that stock is 6.82 gbp. I am glad I ignored others with less information and made my own decision based on my own knowledge and research.

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You still here????

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You'd miss me really ;)

Anyway, I don't actually think the GBP will go much lower, but I do think our country has much worse to come, but so too does Canada and everywhere else. It's the long term where the two nations will really diverge, and that is something that a recent McKinsey's report demonstrated very clearly.

Re: Exchange rate
 

Yes I actually like you. I was going to apologise after apologising to Mike Gas but occasionally to help get through a Thursday it helps to be a prick just to pass the time.

Unfortunately I have to get back to the day job and earn some dollars canadian just incase the pound is in terminal decline.

If in doubt hedge your bets!

Re: Exchange rate
 

[QUOTE=JamesM;8563643]I accept your apology

But I would be very careful with some of the advice you have been giving out.

As you said when the rate was $1.53
I think the current exchange rate already factors in a hung parliament. I would hold of moving your money. I have a similar amount and I agree that the Canadian economy is on thin ice with some very fudged economic debt data.

I too have money in the UK in assets and Pensions worth more than 800,000 GBP, but also have assets and investments in Canada and the USA and currently purchasing a foreclosure and some Land in the US. Although trying Not to hold much paper currency now.

There is a reason Gold is at a all time high

All I would say is that if you need your UK pounds in the next couple years I would not wait, if you don’,t as I do not leave them there for the long term 5 to 10 years but who knows, the FX markets don’t always act in a rational way. :confused: So diversifier and hope for the best.

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[QUOTE=Mike Gas;8563737]I am telling people what I am doing and why.

There has been alot of arguement on here but people who actually have money to move are responsible for their own destiny.

It is entirely down to them to form their own conclusions. I am sure they are all smart enough to not base their forex decisions on an "exchange rate" thread in a forum alone- if at all.

The current exchange rate is almost unprecedented and I still hold the position it is not likely to stay at this level. Once Canada has a major economic scare and the media and speculation turns then things can move quickly. The Canadian dollar is not just over-valued against the pound but other major currencies- this to me suggests there has been alot of hot money and speculative money going in rather than any spectacular economic performance.

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i have a headache reading all this is there a simple answer.we hope to be moving within the next 12 months to canada.is canada going down the same road as the uk, one of you said its on thin ice are we jumping out of the frying pan in to the fire!so question.is the dollar likely to rise ,even a bit ?:unsure::confused:

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Nobody knows for sure. If they did they wouldn't be here telling you - they'd be getting rich. I think that the price is going to go up over the next few months, JamesM agrees, Mike Gas and TheBear do not.