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British Expats (https://britishexpats.com/forum/)
-   Spain (https://britishexpats.com/forum/spain-75/)
-   -   Sterling in freefall (https://britishexpats.com/forum/spain-75/sterling-freefall-686515/)

EsuriJohn Jan 27th 2011 9:59 am
Re: Sterling in freefall
 
Originally Posted by jojojojojo (Post 9133850)
I dont understand it all fully - does anyone????? But it stands to reason (to me anyway) that if you have a reduced value currency, then when you buy things from a nation with a strong currency its going to cost more. Since the UK buys alot of products from foreign countries - more than it exports, then everything will cost more.

Jo xxx
The theory is that you buy raw material add massive value in clever manufacture you can then export them at a great profit if your own currency is cheap.

jojojojojo Jan 27th 2011 10:24 am
Re: Sterling in freefall
 
Originally Posted by John & Kath (Post 9133907)
The theory is that you buy raw material add massive value in clever manufacture you can then export them at a great profit if your own currency is cheap.
Yes, but I'm not sure thats happening yet!! Production in manufacturing sector in the UK is dropping :eek:

jo xxx

megmet Jan 27th 2011 11:06 am
Re: Sterling in freefall
 
Originally Posted by John & Kath (Post 9133840)
In a week it has gone from 1.20 to 1.16 that hurts when you have income at the month end in sterling and bills in euro.
Mmmm! It seems to always happen that way, mostly I've stopped looking at the rate now....I just get what they give me without worrying about it all. :blink:

EsuriJohn Jan 27th 2011 4:28 pm
Re: Sterling in freefall
 
Originally Posted by jojojojojo (Post 9133954)
Yes, but I'm not sure thats happening yet!! Production in manufacturing sector in the UK is dropping :eek:

jo xxx
I thought that was the only bit holding up its the consumer side that has gone to pot.

anonimouse Jan 28th 2011 5:50 am
Re: Sterling in freefall
 
Originally Posted by megmet (Post 9134034)
Mmmm! It seems to always happen that way, mostly I've stopped looking at the rate now....I just get what they give me without worrying about it all. :blink:
Yes same here, every pay day for me it's gone down:thumbdown:

angiescarr Jan 28th 2011 8:27 pm
Re: Sterling in freefall
 
Originally Posted by bobd22 (Post 9130666)
Nice view that sod the pensioners that have worked and planned for a better retirement living in Spain or other parts of Europe, bit like the government have done in the UK allready sod pensioners that need intrest on savings lets look after the people that have been feckless and over spent on the mortgage. :rolleyes:
I don't think having overstretched because of economic conditions at the time counts as being "feckless". Why the '****' would you want to drive a wedge between people who are suffering because their pensions are suddenly worth less in euros, and those who's mortgage payments are suddenly more than they thought? because of changes that weren't foreseen. With foresight maybe the pensioners would have put more away to cover the shortfall?? No, we're all in the same boat due to that wunch of Bankers;-)

angiescarr Jan 28th 2011 8:29 pm
Re: Sterling in freefall
 
Originally Posted by angiescarr (Post 9137165)
I don't think having overstretched because of economic conditions at the time counts as being "feckless". Why the '****' would you want to drive a wedge between people who are suffering because their pensions are suddenly worth less in euros, and those who's mortgage payments are suddenly more than they thought? because of changes that weren't foreseen. With foresight maybe the pensioners would have put more away to cover the shortfall?? No, we're all in the same boat due to that wunch of Bankers;-)
How funny that they starred out EFF *EE* C K! Spoiled my joke!

bobd22 Jan 28th 2011 8:52 pm
Re: Sterling in freefall
 
Originally Posted by angiescarr (Post 9137165)
I don't think having overstretched because of economic conditions at the time counts as being "feckless". Why the '****' would you want to drive a wedge between people who are suffering because their pensions are suddenly worth less in euros, and those who's mortgage payments are suddenly more than they thought? because of changes that weren't foreseen. With foresight maybe the pensioners would have put more away to cover the shortfall?? No, we're all in the same boat due to that wunch of Bankers;-)
Can I point out that what I am refering as much to the Uk as Spain I am not wishing to drive a wedge between anyone I realise that there are winners and losers in this. When I say feckless I refer mainly to the uk where people were taking out 125% mortgages which were provided by greedy bankers. I do not see any difference between pensioners struggling or people with mortgages who have planned and have been caught out by these exchange rates. I would say that wishing the £ to parity or below is more akin to driving that wedge you talk about but that seems to have been forgotten.

casa del sol Jan 29th 2011 1:06 am
Re: Sterling in freefall
 
Originally Posted by bobd22 (Post 9137185)
Can I point out that what I am refering as much to the Uk as Spain I am not wishing to drive a wedge between anyone I realise that there are winners and losers in this. When I say feckless I refer mainly to the uk where people were taking out 125% mortgages which were provided by greedy bankers. I do not see any difference between pensioners struggling or people with mortgages who have planned and have been caught out by these exchange rates. I would say that wishing the £ to parity or below is more akin to driving that wedge you talk about but that seems to have been forgotten.
I also think of the youngsters who leave university with large debt, they are having to pay extortionate prices for a modest home to raise a family and on top of that they have to pay high council taxes that a large proportion is paying for the index linked public sector pensions...they are paying for others pensions but can't afford to pay into their own...not only that they can't retire and receive a state pension until they are 67 and rising....so all those whinging pensioners think yourself lucky.

THORTENERIFE Jan 29th 2011 1:10 am
Re: Sterling in freefall
 
facts are in the last 10 years way before the bank crashs the pound has dropped against the EURO by 36 percent

http://www.ecb.int/stats/exchange/eu...ph-gbp.en.html

and the dollar has dropped against the euro by 48 percent

http://www.ecb.int/stats/exchange/eu...ph-usd.en.html

that is a trend - and i did say 10 years ago to anyone who listened put you pounds into euros you cant go wrong...

the eurozone consists of Austria, Belgium, Cyprus, Estonia, Finland, France, Germany, Greece, Ireland, Italy, Luxembourg, Malta, the Netherlands, Portugal, Slovakia, Slovenia and Spain. The currency is also used in a further 5 European countries (Montenegro, Andorra, Monaco, San Marino and Vatican) with and without formal agreements, one disputed territory (Kosovo) and is consequently used daily by some 327 million Europeans Additionally, over 175 million people worldwide use currencies which are pegged to the euro, including more than 150 million people in Africa.

in 1998, Cuba announced that it would replace the U.S. dollar with the euro as its official currency for the purposes of international trading. On 1 December 2002, North Korea did the same. Syria followed suit in 2006. Iran has maintained its policy of demanding euros from the sale of oil towards Europe and Asia, and plans to set up an oil exchange denominated in euro.

casa del sol Jan 29th 2011 1:23 am
Re: Sterling in freefall
 
Originally Posted by THORTENERIFE (Post 9137506)
facts are in the last 10 years way before the bank crashs the pound has dropped against the EURO by 36 percent

http://www.ecb.int/stats/exchange/eu...ph-gbp.en.html

and the dollar has dropped against the euro by 48 percent

http://www.ecb.int/stats/exchange/eu...ph-usd.en.html

that is a trend - and i did say 10 years ago to anyone who listened put you pounds into euros you cant go wrong...

the eurozone consists of Austria, Belgium, Cyprus, Estonia, Finland, France, Germany, Greece, Ireland, Italy, Luxembourg, Malta, the Netherlands, Portugal, Slovakia, Slovenia and Spain. The currency is also used in a further 5 European countries (Montenegro, Andorra, Monaco, San Marino and Vatican) with and without formal agreements, one disputed territory (Kosovo) and is consequently used daily by some 327 million Europeans Additionally, over 175 million people worldwide use currencies which are pegged to the euro, including more than 150 million people in Africa.

in 1998, Cuba announced that it would replace the U.S. dollar with the euro as its official currency for the purposes of international trading. On 1 December 2002, North Korea did the same. Syria followed suit in 2006. Iran has maintained its policy of demanding euros from the sale of oil towards Europe and Asia, and plans to set up an oil exchange denominated in euro.
What about gold and commodities? £ $ euro not a lot between them.

THORTENERIFE Jan 29th 2011 1:36 am
Re: Sterling in freefall
 
dont pay my bills in gold or wheat,cant see your point....mine is the euro is BIG and is getting BIGGER.not even said about those countries in europe that are fixed with the euro (erm3) every house,car,field,cow in the euro zone makes it worth more....

casa del sol Jan 29th 2011 2:27 am
Re: Sterling in freefall
 
Originally Posted by THORTENERIFE (Post 9137553)
dont pay my bills in gold or wheat,cant see your point....mine is the euro is BIG and is getting BIGGER.not even said about those countries in europe that are fixed with the euro (erm3) every house,car,field,cow in the euro zone makes it worth more....


No, but you can sell your gold to buy your food and fuel...

THORTENERIFE Jan 29th 2011 9:22 am
Re: Sterling in freefall
 
eh.. i dont have any gold or a castle or a lear jet..... i just have MONEY
and the pound is dropping at 1c A DAY ,wait till next saturday after LUTON it will nose dive....:ohmy:


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