No Deal Brexit and Savings

dunstonh

talexuser wrote: »

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.

It says what it says and no-one can argue with it.

it never said "do not invest in the UK" or "move funds out of UK".

I am not offering an opinion on leave/stay. Just pointing out that fake claims are made on both sides.

dividendhero

What seems to be happening with Brexit is akin to blowing up a balloon and letting it loose - no can predict where it'll end up. Having said that I'm struggling to see how it'll work to the advantage of 80% of the UK population.

My shot in the dark, it'll be a no deal - then a severe economic downturn followed by a Labour government under Coybyn with a huge majority

dunstonh

My shot in the dark, it'll be a no deal - then a severe economic downturn followed by a Labour government under Coybyn with a huge majority

Followed by an even more severe economic turndown.

dividendhero

dunstonh wrote: »

Followed by an even more severe economic turndown.

Quite so - and the worst part..it'll be the young who'll be hit hardest and thanks to the ending of Freedom of Movement there'll be no safety valve of them moving to mainland Europe for better prospects:(

EachPenny

dividendhero wrote: »

Quite so - and the worst part..it'll be the young who'll be hit hardest and thanks to the ending of Freedom of Movement there'll be no safety valve of them moving to mainland Europe for better prospects

Unless anything dramatic happens there will continue to be a demand in Europe for migrants to fill the job vacancies they will have as a result of economic growth.

Besides, if conditions are as bad as predicted in the UK, there will be massed gatherings of young people on the roads to Dover trying to board lorries (stuck in customs queues) in order to smuggle themselves into the EU. On arrival in Calais they will be welcomed with a new home and job, and will regain the right to Freedom of Movement in the EU27.

masonic

EachPenny wrote: »

Besides, if conditions are as bad as predicted in the UK, there will be massed gatherings of young people on the roads to Dover trying to board lorries (stuck in customs queues) in order to smuggle themselves into the EU. On arrival in Calais they will be welcomed with a new home and job, and will regain the right to Freedom of Movement in the EU27.

Many of them will probably be more familiar with using special deals on budget airlines to get to Europe on the cheap, although I'll grant you they might not notice much difference in service.

mustiuc

My opinion is to learn from the past and dont be naive. Two years ago if you had 20k cash/savings, move them out and change them in euros you could have now aprox. £3800 more just by transferring them into another currency. No investments... no risks.. just two clicks.
IMO those who will be "too proud and optimist with brexit deal" will loose the most. Remember 2008/2009 ? How many of you got into debt/lost assets? Remember Greece? Huge queues at ATM's and banks refusing to accept withdrawals!
I read everyday shocking articles with people struggling to save 100 a month after bills, i.m going twice a week to do shopping and prices are going up and up for everything, wages are rubbish, etc.
Many will say the economy won't collapse cuz is too big but think twice. Grece said the same, Italy was in 2010 the second country in debt after Grece. If UK is a wheel it will still roll up for a while without help but in the end will stop. That's how I see things.
No matter what will happen in March 2019 I am quite prepared for it. Not even another recession will affect me but, do you feel the same?

atush

No deal brexit will meal lower interest rates (or at least no rise s has been forecast).

It will mean lower exchange rates if you go abroad for a holiday (or like me have foreiign properties to mantain).

It wont generally change your day to day savings etc if they are all in UK banks in GBP.

Voyager2002

mustiuc wrote: »

My opinion is to learn from the past and dont be naive. Two years ago if you had 20k cash/savings, move them out and change them in euros you could have now aprox. £3800 more just by transferring them into another currency. No investments... no risks.. just two clicks.
IMO those who will be "too proud and optimist with brexit deal" will loose the most. Remember 2008/2009 ? How many of you got into debt/lost assets? Remember Greece? Huge queues at ATM's and banks refusing to accept withdrawals!
I read everyday shocking articles with people struggling to save 100 a month after bills, i.m going twice a week to do shopping and prices are going up and up for everything, wages are rubbish, etc.
Many will say the economy won't collapse cuz is too big but think twice. Grece said the same, Italy was in 2010 the second country in debt after Grece. If UK is a wheel it will still roll up for a while without help but in the end will stop. That's how I see things.
No matter what will happen in March 2019 I am quite prepared for it. Not even another recession will affect me but, do you feel the same?

The UK is so different from Greece that your analysis does not connect with the real world.

masonic

mustiuc wrote: »

My opinion is to learn from the past and dont be naive. Two years ago if you had 20k cash/savings, move them out and change them in euros you could have now aprox. £3800 more just by transferring them into another currency. No investments... no risks.. just two clicks.

Clearly you don't understand what you are doing, or the risks involved in doing it.

There are two major currencies that will be impacted by Brexit. You would be shifting from one into the other. The sensible choice, if you want to currency speculate, is to move into USD, which will not be impacted. But it's anyone's guess whether the pound and/or euro will strengthen or weaken from where they are now. Perceived risks today are already priced into the currency market, so it will only be a change in perception that would move markets.

Taking a gamble on currencies is more risky than investing.