No Deal Brexit and Savings

qwert_yuiop

masonic wrote: »

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.

No different. You're buying something today in the hope it'll be worth more tomorrow. Can you guarantee your house, your business or your shares in BP will be worth more next year? Of course you can't. Their value may have collapsed. Similarly, the Swiss franc, euro or for that matter Zimbabwe dollar may be worth more or less against the pound next year. It's fair to say if we get a hard brexit all those currencies will be worth more against the pound. Most of my income these days is in euro from contracting in Dublin, and the drop in the pound is giving me a little pay rise every day. It might be a good idea to remortgage the house and shift the sum released into the euro bank account. Let's just say my euro earnings are staying in euro as much as possible.

Zero_Gravitas

IanManc wrote: »

You clearly believe the spin that Private Eye puts on things to sell copies.

I've explained the reality of the situation to you once, and don't intend to repeat myself, because you've convinced yourself already that your fantasy is true.



As I've already posted, it is the setting up of the second fund which was being reported on. The first Irish one, and the other overseas and UK vehicles operated by Somerset, were already in existence.

Some people seem just desperate to grab onto any conspiracy they can.

Oh, and calling Rees-Mogg "Sleazy-Dogg" is just pitiful.

History suggests that Private Eye’s reporting, particularly of an investigative nature, is significantly better than that of the “mainstream” news sources.

Please feel free to cling to your version of events. There’s clearly no point in engaging further

Glen_Clark

dunstonh wrote: »

You forgot your sarcastic smiley icon. even the most ardent remainers cannot claim that the EU is some bastion of democracy.

I did not claim 'the EU is some bastion of democracy', just pointed out its more democratic than the British Government that vested interests want to keep all the power in. (like the 'newspaper' owners domiciled in HM tax havens and fearing an EU wide tax treaty)

qwert_yuiop

IanManc wrote: »

Oh, and calling Rees-Mogg "Sleazy-Dogg" is just pitiful.

Really? Words like "accurate" and "apposite" spring to mind. Another future former future prime minister, I hope.

qwert_yuiop

IanManc wrote: »

Oh, and calling Rees-Mogg "Sleazy-Dogg" is just pitiful.

Really? You didn't seem to have any bother recognizing who it referred to. Words like "accurate" and "apposite" spring to mind.

Another future former future prime minister, I hope.

LobsterMemory

eskbanker wrote: »

Only 46 posts in seems a bit early to be invoking Godwin's Law....

But with hindsight, no, it wasn't

Zero_Gravitas

IanManc wrote: »

I'm not clinging to anything, nor do I need your permission.

Sadly the truth is a lot duller and more ordinary than your dramatic scandal fantasy.

You can have my permission anyway

And I don’t actually think it’s a scandal, I just think it’s worth pointing out the hypocrisy of a man who wishes to take the U.K. into the hardest brexit, whilst at the same time taking steps to ensure his personal position is protected from the damage that brexit will do.

When he talks about the vassal state, I think he’s secretly thinking that the general population should all be his vassals.

I really will stop engaging now, I promise.

jimjames

In more fabulous Brexit news it appears that we have no idea how many customs officers we have at the moment let alone how many new ones we may need to employ. No wonder the description was for Armageddon in the event of no deal

https://www.independent.co.uk/news/uk/politics/brexit-customs-officers-eu-uk-no-deal-europe-ports-airports-home-office-a8456881.html

When the head of Amazon predicts civil disorder it seems hard to disagree when even minor issues like a discount promotion end up like this

https://damn-lies-and-statistics.blogspot.com/2018/07/no-deal-brexit-civil-disorder.html

Chadsman

John Redwood thinks it is time for investors to look further afield as the UK economy hits the brakes.

Monetary policy cannot prevent either the necessary real adjustment as the United Kingdom moves towards its new international trading arrangements or the weaker real income growth that is likely to accompany that adjustment over the next few years.

https://www.forbes.com/sites/francescoppola/2017/11/12/british-lawmaker-advises-investors-to-take-their-money-out-of-the-uk/2/

dividendhero

Glen_Clark wrote: »

And its worth remembering Britain is the least democratic country in Europe. We don't elect the Head of State & Hangers On, We don't elect the absurdly over-populated House of Lords (which alone is bigger than the EU Parliament for 27 countries) - both of which can over-rule the supposedly democratic Government which is held up by bribes to the DUP.
So would a little power in the far more democratic EU be such a bad thing?

UK is one of the most authoritarian countries in the EU, almost certainly the most authoritarian in Western Europe. A certain MP called David Davis used to regularly bring the British government to the ECJ due to its poor record on civil rights. Without ECJ protection the British Government will be like a fox in the chicken house with our rights

I'm sure post Brexit some EU countries will offer EU passports to Brits with a bit of cash, I myself would take up such an offer even if it meant giving up my UK citizenship - which I view as being more of a subject than a citizen anyway