The value of the British Pound

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  • System
    System Posts: 178,077
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    I expect Scotland won't follow England and Wales into isolation.
    jumperabv3 wrote: »
    Only time will tell, I do hope so ... the last thing I want to see is an exodus of big businesses from London, or seeing London losing its status as a global city .... London is providing a lot of income for the UK and btw let's hope the UK remains UK (i.e. Scotland won't make a Scoxit) ....
  • eset12345
    eset12345 Posts: 643 Forumite
    jumperabv3 wrote: »
    This is just terrible, getting paid in pounds nowadays is not what it used to be 4 months ago.

    Why did you do it? Was it really worth it to vote for Brexit?

    :(


    yes, your kids and grand-kids will thank you dearly when the failed EU project collapses in on itself.

    Just wait until we actually leave and the likes of Germany have to stump up our fees to subsidise the majority of EU countries.

    who cares if the pound is lower? when you go to the shop your pound is still buying you 4 pints of milk or 2 loafs of bread, your pound still buys you the same amount f fuel as a year ago etc etc
  • PeacefulWaters
    PeacefulWaters Posts: 8,495 Forumite
    edited 11 October 2016 at 4:06AM
    Heng_Leng wrote: »
    Your view is far too simplistic.

    Many inputs into the British economy are imported (priced in Dollars or Euros).
    The low exchange rate will simply cause inflation long term and therefore rising interest rates.

    I haven't offered a view on those things, so please don't call it simplistic.

    There is a fantastic opportunity for exporters and potential exporters to grasp.

    Higher interest rates, but under 5%, are a potentially good thing.

    Getting inflation towards it's 2% target range would also be a positive and remove the very real risk of deflation. Granted, significantly above that would be damaging.

    The idea that we should all be running around in a state of panic is ridiculous. The BREXIT vote may have changed the future, but it provides new opportunities that didn't previously exist.
    eset12345 wrote: »
    who cares if the pound is lower? when you go to the shop your pound is still buying you 4 pints of milk or 2 loafs of bread, your pound still buys you the same amount of fuel as a year ago etc etc
    With oil priced in dollars, and all other market factors being equal, it's inevitable that the price of fuel will (has) increase(d) to those paying in sterling.

    Over time, as the dust settles and decisions are made removing uncertainty, I'd expect sterling to recover. But that's a process of several years.
  • Enterprise_1701C
    Enterprise_1701C Posts: 23,409
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    edited 11 October 2016 at 6:45AM
    At least it is a floating currency and we are not locked into the same rate as other countries, the Euro is insanity, it is totally wrecking many economies, even Germany is struggling.

    We are exporters :D

    Quite a few countries are watching and waiting, that is why the EU leaders are trying to wreck our Brexit. They want to make it as hard as possible. I suspect Mrs May will have something to day about that. Apparently Mrs May gets asked one question quite regularly when at the EU - what are you doing to avoid leaving the EU. The EU are still in denial and do not believe anyone can actually up and leave the EU. We are going before the rush, it is unsustainable in it's current form. They should have left it as the Common Market but Germany have always had ambitions to rule the world.

    Heng_Leng wrote: »
    I expect Scotland won't follow England and Wales into isolation.

    No, they wish to be subsumed into the EU and totally lose their identity. You do realise that the ultimate ambition of the EU is for it to become one country, and for all the countries within it to totally lose their borders and national identity don't you. Oh, and it will be ruled by Germany as the EU seems to be at the moment. Why else would they need a flag?

    We fought a war to avoid Germany's ambitions like that last time, this time they are trying to invade the world through the back door, and getting others to pay for it.
    What is this life if, full of care, we have no time to stand and stare
  • Joe_Bloggs
    Joe_Bloggs Posts: 4,535 Forumite
    The UK entered the EU and then devolved. Had the UK devolved and the entered the EU it would have had a greater influence. To only have one vote means we can be cancelled out by Luxembourg in voting decisions.

    Our past unity has counted against us in representation at the highest levels in the EU commission.

    We could have all split into a regional group of four or even groups of 50,000 naming the group after a football team. Within the EU we could then get the same voting rights as other minor states.There would be over 1000 UK based states and other countries would seek similar treatment. It would be more democratic.

    How did the 'minor states' with so few voters gain so much power ?

    J_B.
  • System
    System Posts: 178,077
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    You did offer an simplistic (and unqualified) view - you said it's a fantastic opportunity for exporters.

    Very few of the products that the UK exports will not have some inputs priced in another currency and stable (even if slightly higher) exchange rates are better for most businesses.

    I never suggested panic but current situation is far from ideal - particularly for long term planning and most importantly my holidays ;)


    I haven't offered a view on those things, so please don't call it simplistic.

    There is a fantastic opportunity for exporters and potential exporters to grasp.

    Higher interest rates, but under 5%, are a potentially good thing.

    Getting inflation towards it's 2% target range would also be a positive and remove the very real risk of deflation. Granted, significantly above that would be damaging.

    The idea that we should all be running around in a state of panic is ridiculous. The BREXIT vote may have changed the future, but it provides new opportunities that didn't previously exist.

    With oil priced in dollars, and all other market factors being equal, it's inevitable that the price of fuel will (has) increase(d) to those paying in sterling.

    Over time, as the dust settles and decisions are made removing uncertainty, I'd expect sterling to recover. But that's a process of several years.
  • System
    System Posts: 178,077
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    edited 11 October 2016 at 11:59PM
    You mean like having your almost two-thirds of your electorate voting for something and 'Germany' doing the complete opposite?

    'Germany' placing nuclear weapons next to your largest city that your don't want?

    Watching totally irrelevant news about 'Germany's' education, health, legal and political systems on a day to day basis.

    Having to watch reports about 'Germany's' football hooligans again...

    Is that the kind of stuff you are talking about? ;)
    No, they wish to be subsumed into the EU and totally lose their identity. You do realise that the ultimate ambition of the EU is for it to become one country, and for all the countries within it to totally lose their borders and national identity don't you. Oh, and it will be ruled by Germany as the EU seems to be at the moment. Why else would they need a flag?

    We fought a war to avoid Germany's ambitions like that last time, this time they are trying to invade the world through the back door, and getting others to pay for it.
  • Classic island mentality. Emotional/Delusional mambo jumbo...

    1) Bad Germany rules EU (why is that? are they better than UK in ruling? more powerful? more cunning? Do they have an almighty army?????)
    2) Our island is the greatest, why should WE have equal voting rights as minor states. Luxemburg shouldn't rule the EU. (Answer: because its a pre-agreed Union, not a Conquest. Germany "suffers" the same "insult". It's also a guarantee that the national identity of a minor country won't be lost. The big fish won't eat the small fish)
    3) Germany rules with other peoples money, OUR money...(Greece bailout ~200billion euros at least so far. Who paid for that? Hint: not UK)
    4) Pound is crashing but our exports will sky rocket. (second page of comments and not one exportable product was named so far...In any case i had a look around in my house to see the products i use...korean phones, American computers, german washing machine, korean oven, chinese cheap electronics/batteries/small gadgets, German aquarium equipment, spanish/latin american fruits, italian spagheti, the wife has some italian/french perfumes...the only British goods i can identify are the meat, the milk and the potatoes in my kitchen, ah yes the chicken as well.
    5) WE will make our own laws, Not obey to laws written in Brussels. Yea well i would also like to be free to sleep with other women every now and then but i have to obey the laws i agreed with my wife. And yes my wife has a major vote in these law making :)
    6) outside the EU we will be able to use our cunning British diplomacy, move like a ninja between the big powers, play everyone against the other and come on top. We will survive and thrive against 1.5 billion chinese (superpower), 1.6 billion islamists (hardcore), 1.1 billion Indians (emerging), 300 million Europeans (economic superpower?), 300 million Russians (superpower) and 350 million Americans (superpower)...who said that Power lies in Unity?
  • Marchitiello
    Marchitiello Posts: 1,266
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    evangelos wrote: »
    Classic island mentality. Emotional/Delusional mambo jumbo...

    1) Bad Germany rules EU (why is that? are they better than UK in ruling? more powerful? more cunning? Do they have an almighty army?????)
    2) Our island is the greatest, why should WE have equal voting rights as minor states. Luxemburg shouldn't rule the EU. (Answer: because its a pre-agreed Union, not a Conquest. Germany "suffers" the same "insult". It's also a guarantee that the national identity of a minor country won't be lost. The big fish won't eat the small fish)
    3) Germany rules with other peoples money, OUR money...(Greece bailout ~200billion euros at least so far. Who paid for that? Hint: not UK)
    4) Pound is crashing but our exports will sky rocket. (second page of comments and not one exportable product was named so far...In any case i had a look around in my house to see the products i use...korean phones, American computers, german washing machine, korean oven, chinese cheap electronics/batteries/small gadgets, German aquarium equipment, spanish/latin american fruits, italian spagheti, the wife has some italian/french perfumes...the only British goods i can identify are the meat, the milk and the potatoes in my kitchen, ah yes the chicken as well.
    5) WE will make our own laws, Not obey to laws written in Brussels. Yea well i would also like to be free to sleep with other women every now and then but i have to obey the laws i agreed with my wife. And yes my wife has a major vote in these law making :)
    6) outside the EU we will be able to use our cunning British diplomacy, move like a ninja between the big powers, play everyone against the other and come on top. We will survive and thrive against 1.5 billion chinese (superpower), 1.6 billion islamists (hardcore), 1.1 billion Indians (emerging), 300 million Europeans (economic superpower?), 300 million Russians (superpower) and 350 million Americans (superpower)...who said that Power lies in Unity?
    Could not have said it better....
  • System
    System Posts: 178,077
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    Community Admin
    I do get a good chuckle when they bring up 'The War' as reason to leave the EU.
    Could not have said it better....
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