No Deal Brexit and Savings

Glen_Clark

Thrugelmir wrote: »

Markets are based entirely on investor perception and views. If there was total certainty. They would serve no purpose.

What do you think the purpose of markets is?

Alexland

Glen_Clark wrote: »

What do you think the purpose of markets is?

To keep people on internet message boards chatting?

Glen_Clark

Alexland wrote: »

To keep people on internet message boards chatting?

I thought the purpose of markets was to trade for the benefit of both parties. Like we bought cotton or tropical fruit from countries with the climate to grow it best. And sold them stuff we could do better than them. With more certainty they could work better - ask any exporter or importer trying to judge future pound/euro exchange rates - and they will probably tell you that would rather be in the Euro to give them more certainty like their EU competitors have.
Many good businesses failed because they did not have the certainty of future exchange rates

LULULU1

Just seen John major speaking on Andrew Marrs programme.

What a dark picture he is painting. The best deal possible would be worse than we currently have.

could be tough times if it all goes wrong...

veryintrigued

We're planning ahead and expect a run on fuel.

We've already filled the bath with petrol and the sink with diesel.

jimjames

LULULU1 wrote: »

Just seen John major speaking on Andrew Marrs programme.

What a dark picture he is painting. The best deal possible would be worse than we currently have.

could be tough times if it all goes wrong...

Unfortunately the picture he is painting is reality. The arch Brexiteers vision of no deal ignores so many facts. WTO rules don't cover services. No deal means all existing agreements disappear overnight. No recognition of driving licences, no medicine approval, no flight approval, no European arrest warrant or Europol, pretty much anything in current agreements will be void. Yet they keep harping on about it being a valid option - it shouldn't be.

No-one mentioned barges stationed in the sea off Ireland to supply electricity during the referendum - it would have been another thing classed as project fear - yet that is the reality now. Crazy!

Terry_Towelling

If it had been possible/practical for the referendum ballot paper to have included some additional feature to broadly identify the principal reasons why 'leave' voters voted that way perhaps negotiations would have been easier and more focussed.


It seems we do have to leave and we should expect to be worse off to begin with because that is the only way the EU can justify its existence to its other net-contributor member states.

masonic

Terry_Towelling wrote: »

If it had been possible/practical for the referendum ballot paper to have included some additional feature to broadly identify the principal reasons why 'leave' voters voted that way perhaps negotiations would have been easier and more focussed.

It seems we do have to leave and we should expect to be worse off to begin with because that is the only way the EU can justify its existence to its other net-contributor member states.

Unfortunately, when the referendum paper was drawn up, the architects were so sure they'd get a particular answer they didn't give due consideration to what might happen if the public went against their expectation.

dunstonh

talexuser wrote: »

And Rees-Mogg's firm Somerset Capital Finance advises clients to withdraw funds from the UK and invest abroad as well as setting up funds in Ireland.

The firm has to set up funds domiciled within the EU. No choice on the matter there. All are going to have to do that.

Also, the firm didn't quite tell people to invest abroad. That was a spin on it which then got spread around.

The document issued by the company said:

“During, and possibly after, this period there is likely to be considerable uncertainty as to the position of the UK and the arrangements which will apply to its relationships with the EU.”

As [the firm is] based in the UK and a fund’s investments may be located in the UK or the EU, a fund may as a result be affected by the events described above.”

talexuser

And what was any investor supposed to infer from that? Well let's stay invested in the UK because I love uncertainty. Certainly not the no deal, no worries message Rees Mogg gives.