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Pound in freefall against dollar
Comments
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I think there's about an even money chance that oil won't be priced in dollars in a dozen years, more likely a basket of major currencies - $, €, Yen. Maybe Sterling, Swiss Franc even Aussie $ or the Loonie (Canadian dollar) in the mix too.
A lower pound will be bad for importers but good for exporters and those who compete against imports. It'll look like things are the other way round for about 3-6 months though.
I'd get my dollars now if you're planning on spending a lot. If you're not then remember you'll not earn interest between now and then if you have the $ in your house and it's also a security risk.0 -
.. if you have the $ in your house and it's also a security risk.
If you have your cash in a bank account it's also at risk from the results of the last decade of fiscal policy .... Choose from bank collapse or inflation - or both!--
Every pound less borrowed (to buy a house) is more than two pounds less to repay and more than three pounds less to earn, over the course of a typical mortgage.0 -
If you have your cash in a bank account it's also at risk from the results of the last decade of fiscal policy .... Choose from bank collapse or inflation - or both!
It's true although I suspect that if you look at the amount of cash lost in burglaries over the last 50 years and the amount lost to bank collapse then the former number would be a lot higher.
The money lost to inflation would be much higher than the amount lost to the 2 combined I suspect but then it is reasonably easy to protect assets against the ravages of inflation.0 -
US GDP Growth for Q2: 3.3%, property bottoming, no recession.
UK GDP Growth for Q2: 0.0%, house prices to fall far further, OECD predict a recession in H2.
US manufacturing exports are booming thanks to the dollar's recent weakness. I'm sure Britain's strong manufacturing export base will similarly get us out of this sticky patch, :whistle: ."The state is the great fiction by which everybody seeks to live at the expense of everybody else." -- Frederic Bastiat, 1848.0 -
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When something goes up, something has to come down.
Fill in the blanks
Strong US Dollars = Cheaper ________0 -
I posted this on another thread but it`s relevant here also.
The pound can only keep falling because foreign investors are ditching it.
They think there is going to be a l o n g and deep recession in this country and that`s the reason for the continuing fall.
The BoE meets tomorrow and Thursday but instead of raising base rates by at least half of one % they will just sit on the fence and do nothing.
It`s all down to the man who said the days of boom and bust are over.
Well we`ve had the boom,now for the bust.0 -
I posted this on another thread but it`s relevant here also.
The pound can only keep falling because foreign investors are ditching it.
They think there is going to be a l o n g and deep recession in this country and that`s the reason for the continuing fall.
The BoE meets tomorrow and Thursday but instead of raising base rates by at least half of one % they will just sit on the fence and do nothing.
It`s all down to the man who said the days of boom and bust are over.
Well we`ve had the boom,now for the bust.
Why do you think that interest rates should rise by 0.5% please?0 -
sticking plaster effect, better to rip it off quickly and get the pain over with then move on?
What are you trying to achieve with this?'Just think for a moment what a prospect that is. A single market without barriers visible or invisible giving you direct and unhindered access to the purchasing power of over 300 million of the worlds wealthiest and most prosperous people' Margaret Thatcher0
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