Re: GBP crisis...yawn
 

It's only 2.1478..its not really working aye?

Re: GBP crisis...yawn
 

.....and the price of gold now being how many times more than it was when he stole it from us? And then he bought Euros, which are worth how much now compared to when he bought them to gain minor favour with those European nations we are still supporting? I often wonder how much child benefit comes back from Poland? Who voted for that idiot (decorum and decency forbid me from using the string of derogatory expletives I want to about him :banghead: :curse: :banghead:) - oh, that's right, none of us :angry_smile:.

Still, the only good thing he has done for me (apart from banning smoking in pubs/restaurants) is to make me very determined to move to NZ, so I suppose I can thank him for that. Cheers :beer:. I'm off to break up my soap box now, I've worn it out lately.

Re: GBP crisis...yawn
 

Have some soapbox karma macmattom :lol:

Re: GBP crisis...yawn
 

I thought we werent allowed to talk politics on this forum :)

.....it's going to be a difficult rule to maintain as we approach the election.

Glad I'm in NZ.....I've never been a fan of spoiling my ballot paper, but this time round I'm not sure which of the band of clowns I'd choose.

Re: GBP crisis...yawn
 

No rule of that nature that I can see.
Just don't start calling each other kn@bheads and tw@ts is all.
Be as nice as you all are. :sneaky:

Re: GBP crisis...yawn
 

For once in their lifetime British politicians have united in bringing the voters together under one flag where we can see the stance adopted by these true servents of ours! After their display of years of theft covered up by the nice word 'expenses' and the true concern displayed when being found out by refusing to pay back the nations monies, then all accepting an instant £1k base rate wage increase..........the flag is...........Sod the lot! We Brits are that disgusted we will not be wasting our time to vote to feed their petty little greeds......Fox hunters and all...............:thumbdown:

And I mean all.......http://news.bbc.co.uk/1/hi/england/kent/8563214.stm...says it all really!

Re: GBP crisis...yawn
 

2.15610 and counting - that's closer to 2.16 just on one baseless rumour! :blink:

Do you not realise the power you wield? International monetary experts could pay you millions NOT to make currency transactions for fear of destabilising the economies of entire nations. You should give Alistair Darling a ring - I think they are desperate enough ahead of the election to try anything!

Re: GBP crisis...yawn
 

I rang GB this morning and just hinted that Genesis might be about to make a FE trade, he put his hand over the phone mouthpiece but I did hear him...

"For goodness sake Alistair, sell the LOT, NOW!!! and then buckle up, todays going to be rough....shame about the Greeks....and get me the Black Friday Plan right away"

...then he rang off....

Re: GBP crisis...yawn
 

Oh dear... 2.146 and in a shallow dive it seems...:cry_smile:

Re: GBP crisis...yawn
 

Agreed.

Back in the UK I admit I was the usual "got to have a flash car, LCD TV, big house" etc etc.

But, after spending 9 months traveling round Oz in a tiny little campervan with nothing but a rucksack of clothes, and now being in NZ for 3 months with the same bag of clothes, we've realised its all just stuff. We dont actually need all thats stuff, its just an item which at the end of the day it doesn't matter if you have it or not.

Sure a big screen tv or flash car is nice, but if you don't have it so what. I haven't watched a TV in nearly 10 months, and as long as a car has 4 wheels and doesn't break down every 2 feet I'll be happy.

Re: GBP crisis...yawn
 

2.134 :eek::thumbdown:

Dewb

Re: GBP crisis...yawn
 

My favourite post EVER! thank you
:rofl::rofl::rofl:

Re: GBP crisis...yawn
 

Simonsi had the right idea...forget about the heady days of the $2.70s. I think they are gone forever. What you need to think about is what you can get today..and more importantly what you THINK you might get in 4 months time. I believe we all have to face up to the fact that those of us with money in the UK that we want to bring to NZ is that it has devalued by about 25% in the last 15 months and its not going to get much better in the short term..by that I mean many, many years. I will do a big sell IF it gets to $2.40ish. What do you lot think? The only salvation for a return to $2.50 plus is if the kiwi takes a BIG bashing for some reason..that's the only way it will go north of $2.50..The GBP is really, really fecked.

Re: GBP crisis...yawn
 

Mayday, mayday, this is the good ship GBP, foundering in heavy seas, UK Population of 70 million on board, immediate miracle required......

Re: GBP crisis...yawn
 

Bring in more people to man the pumps!:rofl::rofl:

Re: GBP crisis...yawn
 

I wasn't planning to sell my house straight away - i was thinking of leaving it a couple of years, and selling up and bringing the money over then - surely the GBP would recover a bit by then?

Re: GBP crisis...yawn
 

We are selling :fingerscrossed: but will leave money here and just hope with everything that things improve, I remember when I thought 2.5 was low :eek:

Dewb

Re: GBP crisis...yawn
 

Noone really know, and everyting is just guess work and wishing and hoping. However, what is certain is that things change and when they do it may happen suddenly. I don't think though it will take years for the NZ dollar to come down as it doesn't simply depend on what happens to the pound.

Re: GBP crisis...yawn
 

Depends how long you can wait really.

We transfered some fund to OZ 12 months ago at 2.2 which we thought was bad at the time, but had no chouce but to transfer. Everyone we spoke to was going "yeah it'll come back up soon no worries". But now look at it! 1.6!!!

Got the remains of our UK currency to bring over to NZ now, and seriously tempted to just do it and not worry it it goes up. Just don't want to lose anymore now.

Re: GBP crisis...yawn
 

Thank u, i,m here all week :o

Re: GBP crisis...yawn
 

I would get out of £ sooner than later, talk of currency crisis like Argentina had, you'll wish you could get 2 nz dollars to the pound in 2011!

Re: GBP crisis...yawn
 

Good news :confused: The UK is ONLY going to borrow £132 Billion this year not the £170 Billion forecast!:o:rolleyes:

Re: GBP crisis...yawn
 

Phew thats a relief then :rolleyes:

Dewb

Re: GBP crisis...yawn
 

Yup..watch the NZD shoot up now.....:rofl:

Re: GBP crisis...yawn
 

What makes you say that? Some people are predicting 1.5:eek:

Is the GBP utterly ruined? Is 2.1 REALLY good value?????????? If you don't need the money is it worth waiting for the GBP to heal??

Re: GBP crisis...yawn
 

Will it heal ? :unsure:

Re: GBP crisis...yawn
 

So, in the light of all the poor press myself and others have heaped upon the beleagured pound, who would NOW change a SUBSTANTIAL amount of GBP at the current crap rate of c 2.13?? Who has the nerve to hang on and see if it can climb to $2.40? Or by contrast who will make a move now afore it slides to south of 2. I remember at $2.50 thinking 'what the hell why don't I do the lot now'..alas I felt that $2.50 was insufferably low and thought it would within a year get back to $2.70 which is the 10 year median. Yeah right. 'Buy high sell low nice but dim Genesis' strikes again.:eek: Bollocks, thats what I say.

Re: GBP crisis...yawn
 

The news today should be seriously good for the strength of the pound. The government now forecasts to borrow a lot less AND Moody's confirming the 'AAA' debt rating means the rates at which they get to borrow the deficeit will be good.

HOWEVER what I have seen is that the FOREX market seems to defy logic. Everytime there is good news the pound seems to plummet....so watch for values below $2.10 today....

Re: GBP crisis...yawn
 

The markets are a law onto themselves. The fluctuations only occasionally seem to relate to financial news items. Also, notice how the pound almost always picks up over the weekend when we can't make trades? How does that work?

Personally, I think currency speculators along with hedge fund managers should be hung as traitors! :frown:

But watching the pounds constant plummeting to new depths of the exchange rate is not a fun game anymore - aren't we due a good spell soon?

Re: GBP crisis...yawn
 

:cry_smile::cry_smile:

Re: GBP crisis...yawn
 

Staring to seriously think about hedging our bets and transfering half our money to NZ and get it a good interest rate and leaving half here & hoping like mad the exchange rate improves :fingerscrossed:

But might wait to see if you crack and transer yours soon :eek:

Dewb

Re: GBP crisis...yawn
 

Not if that is what the markets were expecting, or if they were expecting better news it'll get hammered again. Nothing will settle or improve things until the election is sorted now IMHO, and that could derail any improvement/change between now and then, it all depends what the market expect vs what it gets... ish

Re: GBP crisis...yawn
 

:thumbsup:

Re: GBP crisis...yawn
 

:scaredhair: 2.12 :cry_smile: its like watching a slow car crash

Dewb

Re: GBP crisis...yawn
 

Just checked XE.com

2.119

:eek:

But not unexpected IMHO

Re: GBP crisis...yawn
 

OH no, just as things are finally moving on the house front :rolleyes:

OMG maybe I am related to Genesis :eek:

Dewb

Re: GBP crisis...yawn
 

Fortunately the train crash stopped at 10.59 NZ time. We now have the rest of the weekend not having to see the pound lose more value every minute. Sorry guys but Kate ain't selling. I have tried to persuade her but she is in for atleat a year in the UK. We are now getting a heady 2% interest on her inhert=itance..I have an endowment coming up for maturity come september time I may well sell up whatever piffiling amount I get. Its for about 40K GBP but alas I will be lucky to see 17k GBP. I was told at the time I bought it in 1985 that it would pay out in full and there would be a large bung too...yeah right. Again shafted by the financial services sector. I have worked out due to the fall in the pound, Hanover Finance and my crap endowment I am over $300k NZ down just now. I say double bollocks.

Re: GBP crisis...yawn
 

I was speaking with the man from the currency exchange company. Told him what I had read on here, and asked if he could comment...

officially...no - they just change money, they don't advise. They don't have crystal balls(....behave !)

but in his personal opinion, the advice I got from here is spot on:cool: - there is no good news for the pound on the horizon. It will be hostile for the GBP for at least one year --- and no one could possibly predict more than a year away.

so once again, well done expats -you were spot on again!

Re: GBP crisis...yawn
 

not an expert but in my experience - and by the way i've never been through a recession - the kiwi dollar has done this - by the way i'm dealin in euro as i'm an irish lass - In 2002 the kiwi dollar was pretty much 2.00 for 1 euro (which i think back then was the punt not euro) in 2005 it was $1.72 for a euro which was pretty bad. In 2008 it was $2.10 in august. Which was when we sent our money over and moved here for good. By December of that year it was $2.60ish to the euro which almost made me sick as that was an extra $60-$70,000 dollars which would have made a massive difference to our life. In saying that the interest % on the amount we brought was brilliant it was about 9% so we were making almost $2,000 a month on interest so that helped a bit. We watched it for 6 months before we left, it went up a few cents then down but never did anthing major yet the month before we left it just kept rising so we knew from watching it that it could of changed to below the $2.00 mark. Before the recession it was less of a worry. We decided that if it went over the $2.07 mark we would change so we did. Now we have to live with the fact that it went way above that figure. At the end of the day, we were glad that we changed cause banking was so futile back in 2008 we were just glad to be out of it all. The recession shook us slightly and we are aware that it could of been way worse. We are healthy as are our 2 kids so for the minute i'm happy that we did what we did but if I had to do it again I would wait (agree an amount your both happy with then exchange) cause even tho the recession is tough it does tend to go really low then a year or so later go really high. My advise is - if you dont need it right now - WAIT - in time it will go back up but the time involved may be longer than recent trends........

Re: GBP crisis...yawn
 

Yep, I'd agree with the above. If you play the waiting game, then at the end of the day you still have your money. However, if you take the hit now, you may well kick yourself later!