Sterling in freefall
#181
Re: Sterling in freefall
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.
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#182
squeaky clean
Joined: Mar 2010
Location: Spain 4th feb 08 - October 11, now flits batck and forth from sunny Worthing
Posts: 1,576
Re: Sterling in freefall
#183
Re: Sterling in freefall
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.
#186
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Joined: Dec 2009
Location: Aracena area Huelva Spain
Posts: 1,631
Re: Sterling in freefall
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.
#187
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Location: Aracena area Huelva Spain
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Re: Sterling in freefall
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;-)
#188
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Joined: Feb 2008
Posts: 5,625
Re: Sterling in freefall
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;-)
Last edited by bobd22; Jan 29th 2011 at 10:42 am.
#189
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Joined: May 2006
Posts: 373
Re: Sterling in freefall
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.
Last edited by casa del sol; Jan 29th 2011 at 1:11 pm.
#190
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.
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.
Last edited by THORTENERIFE; Jan 29th 2011 at 1:20 pm.
#191
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Joined: May 2006
Posts: 373
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.
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.
#192
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....
#193
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Joined: May 2006
Posts: 373
Re: Sterling in freefall
No, but you can sell your gold to buy your food and fuel...
#194
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....
and the pound is dropping at 1c A DAY ,wait till next saturday after LUTON it will nose dive....