championsleaguefan Posted January 23, 2008 Share Posted January 23, 2008 will you get more for the pound because of the crash wish I bought mine when it was $2 to the pound dam Link to comment Share on other sites More sharing options...
Ribble Posted January 23, 2008 Share Posted January 23, 2008 Interbank rate down to $1.94 today ! Link to comment Share on other sites More sharing options...
coppercrutch Posted January 23, 2008 Share Posted January 23, 2008 Dollar is going to tank due to their interest rate move. If the BoE does the same the pound will follow suit. So who knows really. The Euro is looking stronger too but their are serious mumblings and I don't reckon it will be long till a few countries want to get out. Not that many safe places to put your money really !! All in all a complete mess. And one that anyone with the simplest of economic understandings could see a mile off. Tells you a lot about those in charge of our country and economy. Link to comment Share on other sites More sharing options...
Toggie88 Posted January 23, 2008 Share Posted January 23, 2008 I reckon the Pound will fall before the Euro, bringing them both into line. Then that's when the govt will start pushing the UK to take up the Euro. Link to comment Share on other sites More sharing options...
Boaby Ewing Posted January 23, 2008 Share Posted January 23, 2008 Possibly, but it's by no means certain. The fact is, the UK's economy isn't that far removed from the US one (loads of personal and institutional debt, crap trade balance, heavily weighted towards 'banking and services' rather than making 'stuff') so the pound's under threat. It's not fallen as far as the dollar thus far so there may be more room to the downside for sterling than there is for greenbacks. Added to that, US Treasury Bonds are becoming increasingly attractive to investors as they get the feck away from equities - which should lend some support to the dollar. And while the dollar might be weak, if things really go tits up a lot of people just like the good old fashioned security of hard cash - which again is more weighted in the dollar's favour than it is for the pound. On the flip-side, the Fed is looking far more aggressive when it comes to cutting interest rates - the Bank of England is still emphasising the dangers of rising inflation. The BoE will cut, but maybe not as fast and as far as the Fed will (interest rate cuts tend to weaken a currency as those cash reserves well earn, er, less interest). Same goes for the European Central Bank - but then the euro has further to fall than sterling or the dollar. A lot of people are predicting that the dollar will seriously strengthen from around about the middle of the year. But all of the above is guestimates and speculation - I'm making no concrete predictions. Link to comment Share on other sites More sharing options...
Boris Posted January 23, 2008 Share Posted January 23, 2008 All in all a complete mess. And one that anyone with the simplest of economic understandings could see a mile off. Tells you a lot about those in charge of our country and economy. I agree. It's all Wall Street's fault. They are the ones effectively in charge of our economy and therefore by default our country. Link to comment Share on other sites More sharing options...
Big G Posted January 23, 2008 Share Posted January 23, 2008 Hey, have a little bit of feeling for some of us trying to make ends meet over here guys uh? Link to comment Share on other sites More sharing options...
coppercrutch Posted January 23, 2008 Share Posted January 23, 2008 I agree. It's all Wall Street's fault. They are the ones effectively in charge of our economy and therefore by default our country. Lets not forget a certain Mr Brown in all this.... This mess has been brewing for years and every measure Brown has taken has made it worse. Constantly stoking the fire of greed and debt. Just to create the illusion that we are all so well off. Of course we are closely linked to the US and the problems we have are related. But the problems in the UK, IMO, will turn out to be much much worse than in the US. At least they actually manufacture things these days. One thing to note that should seriously scare anyone. And one thing to remember when you hear these slimy politicians on TV stating how our economy is based on 'strong foundations' The UK has the same amount of personal debt as the US. The US population is 6 TIMES the size of ours....... :eek::eek: Link to comment Share on other sites More sharing options...
Sheriff Fatman Posted January 23, 2008 Share Posted January 23, 2008 I agree. It's all Wall Street's fault. They are the ones effectively in charge of our economy and therefore by default our country. To be honest though, the Chinese have an increasing say in Wall Street due to investment and the US fiscal policy due to holding billons in US treasury debts. So you could say that the Chinese are going to be effectively in charge of both economies soon. Link to comment Share on other sites More sharing options...
Boris Posted January 23, 2008 Share Posted January 23, 2008 Lets not forget a certain Mr Brown in all this.... This mess has been brewing for years and every measure Brown has taken has made it worse. Constantly stoking the fire of greed and debt. Just to create the illusion that we are all so well off. Of course we are closely linked to the US and the problems we have are related. But the problems in the UK, IMO, will turn out to be much much worse than in the US. At least they actually manufacture things these days. One thing to note that should seriously scare anyone. And one thing to remember when you hear these slimy politicians on TV stating how our economy is based on 'strong foundations' The UK has the same amount of personal debt as the US. The US population is 6 TIMES the size of ours....... :eek::eek: CC, I'm teasing. Your opening gambit was about how screwed the US economy is. That has hee haw to do with our leaders etc. Same re your comments about the Euro. How is that HMG's fault? Not to say that the economy here isn;t going to be in trouble, although I would argue that it would be so regardless of those in charge, given as you say how closely linked we are to the US economy. Link to comment Share on other sites More sharing options...
Boris Posted January 23, 2008 Share Posted January 23, 2008 To be honest though, the Chinese have an increasing say in Wall Street due to investment and the US fiscal policy due to holding billons in US treasury debts. So you could say that the Chinese are going to be effectively in charge of both economies soon. 'mon the Workers State. Link to comment Share on other sites More sharing options...
coppercrutch Posted January 23, 2008 Share Posted January 23, 2008 CC, I'm teasing. Your opening gambit was about how screwed the US economy is. That has hee haw to do with our leaders etc. Same re your comments about the Euro. How is that HMG's fault? Not to say that the economy here isn;t going to be in trouble, although I would argue that it would be so regardless of those in charge, given as you say how closely linked we are to the US economy. You are terrible Mr Boris !! I think we are singing from the same hymn sheet anyway. And i do agree that we would be in a mess no matter who was in charge. But I just think Brown and his cronies have let this got a lot worse (For the UK) than it should have been. They have let the debt bubble get larger and larger when they could have put a brake on it 3 or 4 years ago. Yes the last few years would not have 'seemed' quite so great, but we'd be glad of it right now !! This is the same Brown remember who said 10 years ago 'There will be no more boom and bust' !!! What a numpty. I wish politicians thought a bit further ahead for a change. All thay can think of is their next election. Which is understandable but really screws the country up from time to time. And the economic 'troubles' in this country have only just begun. Things are going to get a whole lot worse before they get better again. Oh well life goes on. Link to comment Share on other sites More sharing options...
Therapist Posted January 23, 2008 Share Posted January 23, 2008 I reckon the Pound will fall before the Euro, bringing them both into line. Then that's when the govt will start pushing the UK to take up the Euro. What does this gobbledygook mean? Are you suggesting the Pound and Yooro will reach parity - ie 1:1 ex-rate? Link to comment Share on other sites More sharing options...
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