No Deal Brexit and Savings

qwert_yuiop

schiff wrote: »

Some fascinating reading in this. A shame that it's littered from time to time by little spats.

I've spat a little litter out.

dividendhero

Chadsman wrote: »

Does any leaver think Trump will give UK a good trade deal when he is levying tariffs on goods from EU, Canada, Mexico, China, South Korea?

Tomorrow Trump will offer the UK a trade deal that's "tremendous, just tremendous" the day after those pesky limeys will be ripping of America and hit with tariffs and quotas

qwert_yuiop

Chadsman wrote: »

Does anyone think Trump will give UK a good trade deal when he is levying tariffs on goods from EU, Canada, Mexico, China, South Korea?

No. He won't be giving us any wee hand. Bigly.

sjp999

By the time we're actually out and in need of a US trade agreement there's a fair to middling chance he'll be out of office.

But, given the way he's backtracked on so much of what he's said in business, I doubt he'd do anything if the main benefit wasn't in his interest.

dividendhero

qwert_yuiop wrote: »

Those with major international exposure ought to do well. I'd suggest BP for instance, with refineries and wells abroad, will do well in Sterling terms - effectively a hedge against sterling depreciation.

That's true to an extent, and a company like Diageo will be able to pay it's British workers in lowly sterling and sell their drinks for dollars or yen. But you might as well just invest directly in foreign companies

Chadsman

sjp999 wrote: »

By the time we're actually out and in need of a US trade agreement there's a fair to middling chance he'll be out of office.

But, given the way he's backtracked on so much of what he's said in business, I doubt he'd do anything if the main benefit wasn't in his interest.

Quite possibly - but we may be at the mercy of the whims of a different US plutocrat, or in 2025, or in 2029, or...

Chadsman

...and assuming he does not die or is forced from office he will be in power until (at least) January 2021 so UK will be trying to negotiate with Trump until after the end of a Brexit transition deal (even if that is agreed). Trade deals are not negotiated in a few days, they take years to be agreed and implemented, viz UK negotiations with EU. Leavers said the UK EU trade deal would be easy to negotiate. If this is easy what will difficult look like?
China and EU can hit back by virtue of their size, the UK does not have that ability.

dividendhero

Interesting piece in current Private Eye, gist of the story is that some of the hard Brexit brigade are indeed looking to crash the UK economy in order to profit from it. They've also got ties to Russia.

Scary part is that nobody's surprised by any of this and we all know that no action will be taken

schiff

Power and money run pretty much everything in life. Can't see it ever changing.

sparkey1

No, keep your money in the UK where you can access it.

To move into gold is speculation, could lose you money, will cost you, fees and of course you wont earn interest on it.

I saw mention of Euros earlier in thuis thread. Again, a no deal Brexit is worse for for the Euro, so why would you want to see the euro fall against the £ and lose more money.

If the £ drops the BOE could raise interest rates but that is unlikely as they didn't previously. However if you were concerned about that, use your savings to pay down debt.