The Death of the Pound?

Posted: Wed Aug 23, 2017 12:54pm

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Ancient Printer

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The English Pound (yes English - it's printed by the Bank of England - not the Bank of Britain - so BOB is not your uncle!!) is currently doing a suicide dive. So where's the bottom and what does it mean for those of us living here? Many will say that, yes, everything is fine with the English economy but I personally would rather believe the markets - not what politicians say. There are some who predict €0.80 to the pound not so far away and we can expect a major political upheaval in October - perhaps a new election - and then what? I'd be a fool to predict any more...?

So what do you think? Is it time to pack up and return to England and top up on SS payments or do we battle it out until something gives? The Brexit negotiations are in chaos and when the chief negotiator went to Brussels he forgot his notes! If you follow the English mainstream news, you'll see that few really know or understand what's happening.

Could there be a final point of despair when the Brexit camp throws in the sponge and Brexit is abandoned as unworkable? If so we could see a massive bounce in the pound - €1.55 perhaps or even €1.60 for a few hours or even a few seconds?

There are ways to place yourself in a position to capture such instantaneous events online. If that tickles your fancy, just send me a private message and I'll tell you more. I'm not allowed to put links or email addresses here in public.

But the real point of this post is to see what people think about what's going on in general and I hope this post will generate some reaction - hopefully creative and constructive.

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Posted: Wed Aug 23, 2017 3:52pm

Lawrie15

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Posted: Wed Aug 23, 2017 3:52pm

So it's the 'English Pound' and not the British Pound eh? What a load of bollocks, the Bank of England is a British institution, it doesn't just belong to England.

Anyone who thinks the pound is capable of reaching €1.55 or €1.60 is clearly living in cuckoo land, but then your opening statement clearly proves that YOU are.

Posted: Wed Aug 23, 2017 4:03pm

Ancient Printer

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Posted: Wed Aug 23, 2017 4:03pm

Of course the opening comment was designed to provoke comment - and it has! Enough said!

I've lived here 32 years and , yes, I remember €1.60 to the pound albeit very briefly.

All fiat currencies are on a race to the bottom. (Fiat currency by the way means paper money supported only by trust in the central bank and its government). The bomb will explode when the public loses trust in the paper. Sooner or later that will happen as the debt mountain overruns us all.

Posted: Fri Aug 25, 2017 2:09pm

Andyb1208

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Posted: Fri Aug 25, 2017 2:09pm

Ancient Printer wrote on Wed Aug 23, 2017 12:54pm:
The English Pound (yes English - it's printed by the Bank of England - not the Bank of Britain - so BOB is not your uncle!!) is currently doing a suicide dive. So where's the bottom and what does it mean for those of us living here? Many will say that, yes, everything is fine with the English eco...

Read more...

...nomy but I personally would rather believe the markets - not what politicians say. There are some who predict €0.80 to the pound not so far away and we can expect a major political upheaval in October - perhaps a new election - and then what? I'd be a fool to predict any more...?
So what do you think? Is it time to pack up and return to England and top up on SS payments or do we battle it out until something gives? The Brexit negotiations are in chaos and when the chief negotiator went to Brussels he forgot his notes! If you follow the English mainstream news, you'll see that few really know or understand what's happening.
Could there be a final point of despair when the Brexit camp throws in the sponge and Brexit is abandoned as unworkable? If so we could see a massive bounce in the pound - €1.55 perhaps or even €1.60 for a few hours or even a few seconds?
There are ways to place yourself in a position to capture such instantaneous events online. If that tickles your fancy, just send me a private message and I'll tell you more. I'm not allowed to put links or email addresses here in public.
But the real point of this post is to see what people think about what's going on in general and I hope this post will generate some reaction - hopefully creative and constructive.

Hi AP,

I think there is a lot of sense in what you say.

Its stated back in Blighty that 26% of leave voters would now change the vote to stay in.

So there is a real case for another referendum. I would be the first to say you can not keep having referendums until you get the result you want, but in this instance the opinion polls suggest that there would be a huge swing to stay in, now there is realisation of the 'not so truths' of the Leave Campaigners

Im sure there will be a lot of opinions on the above, but facts are facts we would be a richer country in rather than out

KR

Andyb1208

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Posted: Fri Aug 25, 2017 2:43pm

Ancient Printer

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Posted: Fri Aug 25, 2017 2:43pm

Hi

I expected this to bring an avalanche of hostile comment! But it didn't. In fact almost no comment at all! There's very little we can do about Brexit except wait and pray that sense is seen before it's too late. Thank you for your very sensible remarks. It is worth mentioning that politicians and bankers get away with what they do precisely because of the silent masses who shut their eyes!

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Posted: Fri Aug 25, 2017 3:02pm

Andyb1208

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Posted: Fri Aug 25, 2017 3:02pm

Hi AP,

That's not exactly correct, there is quite a lot that can be done. If a petition was started and it receives 100,000 signatures it is then considered for debate in Parliament

Taking that 26% want to change their vote, this would be way over the 100,000 threshold.

This would defiantly get a voice in parliament.

KR

Andyb1208

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Posted: Fri Aug 25, 2017 3:19pm

Ancient Printer

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Posted: Fri Aug 25, 2017 3:19pm

Sadly anything like that takes money and lawyers. I have neither! Do you?

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Posted: Fri Aug 25, 2017 7:01pm

Andyb1208

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Posted: Fri Aug 25, 2017 7:01pm

Unfortunately not

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Posted: Sun Aug 27, 2017 11:22pm

lisa71

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Posted: Sun Aug 27, 2017 11:22pm

Ancient Printer wrote on Wed Aug 23, 2017 4:03pm:
Of course the opening comment was designed to provoke comment - and it has! Enough said!
I've lived here 32 years and , yes, I remember €1.60 to the pound albeit very briefly.

Read more...

All fiat currencies are on a race to the bottom. (Fiat currency by the way means paper money supported only by trust in the central bank and its government). The bomb will explode when the public loses trust in the paper. Sooner or later that will happen as the debt mountain overruns us all.

AP

Totally agree. Only cryto currencies are racing up

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Posted: Sun Sep 3, 2017 3:43pm

mal johnson

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Posted: Sun Sep 3, 2017 3:43pm

Andyb1208, I had heard about that if you presented a petition of 100 00+ signatures to Parliament then the subject would be debated. Recently in the UK papers it was reported that an MP had amassed a petition of nearly 300,00 from people questioning why in this day and age why we are paying a tv licence fee to an outdated corporation that has been continuously exposed for wasting and misspending licence fee funds. To this date there has been no discussion on this particular petition.