The British Pound getting KILLED!

[hayekvindicated]

Re: The British Pound getting KILLED!

The Yen is TEARING IT UP!



How can it do otherwise, with the trusty Toyota Hylix at its side?

This is one trade where I wish I hadn't made money. The pound's tumble is starting to scare me now. Im going to have to get my money out before the week is out.

[hayekvindicated]

Re: The British Pound getting KILLED!

My tendency on investing in India is to invest in productive assets -- as opposed to what I would consider bubble assets -- to me that would generally include urban real estate (unless of course I am getting a really good deal -- or I am building social capital!)

I think the Indian economy will come out of this maelstorm better than most others for many reasons -- one of them being that the Indian Banking system has been much more conservative in their approach to investing -- and much more emphasis is placed in capital preservation.

I agree that India should survive this storm better - if the Government keeps its spending under control and doesn't borrow too much money. The only way I see that happening is if these current bunch of clowns get thrown out in the next elections and are never elected again. That, unfortunately, is still an "if".

[bam]

Re: The British Pound getting KILLED!

Anyone want to predict what will happen to the pound, USD and gold once the yuan becomes globally traded?

``The message of this initiative is for China to consider whether or not it would open up its banking system,'' and offer a new convertible world currency, said Olarn, who will head to Beijing tonight for the Asia-Europe Meeting of government leaders. ``If this concept is accepted, it will be a new chapter in international finance.''

http://www.bloomberg.com/apps/news?p...efer=worldwide

[c1ue]

Re: The British Pound getting KILLED!

Allowing the yuan to be openly traded would be a huge mistake for China right now.

Having control over the yuan allows China to moderate the inflow and outflow of foreign direct investment (FDI). This is important because as a developing nation, China still consumes huge amounts of FDI in order to build up infrastructure and to grow.

Loss of control over FDI flows means sudden reversals result in Thailand style crises, while sudden inflows means overheating/bubble formation followed by collapse.

The other thing to keep in mind is that China - while it has a big pile of dollars - doesn't have so many that the borrowing needs of the US and rest of the world can be significantly supplied for any reasonable length of time. They're not in the position of the US in 1945 where 80% of all the gold in the world was in the US and gold was a monetary backing.

[tsetsefly]

Re: The British Pound getting KILLED!

Merv, the Guv of the Bank of England spoke on TV tonight...............he said the "R" word (He was thinking the "D" word). The Pound which was $1.77 a few days ago hit $1.66 in mins.

The World is in shock, but once it gets a grip it will see that After Iceland Britian is heading into a black hole!

(Nasty Limey Bastards Ho Ho Ho)
Mike

Really ignorant question, but being from the America's I really nevered payed much attention to Britain's economic soundness, but how exactly did they get in this mess? Is it similar to what the US did?

[hayekvindicated]

Re: The British Pound getting KILLED!

Really ignorant question, but being from the America's I really nevered payed much attention to Britain's economic soundness, but how exactly did they get in this mess? Is it similar to what the US did?

Went on a party on borrowed money for a decade and thought it could last forever. And while the going was good, there were plenty in the establishment press who couldn't self congratulate themselves enough - Anatole Kaletsky and Gerard Baker of the London Times are two perfect fools who come to mind.

It was believed that it was "beneath" the dignity of an "advanced economy" to do such "low" stuff like manufacturing when it could be repackaging debt and engaging in such other more lucrative activities.

The causes of Britain's problems are almost identical to those of America - there is also a much closer connection between Wall Street and the City (or was before things started going sour) than there is between, say, Frankfurt and Wall Street or Hong Kong/Singapore and Wall Street. So there has been a cross fertilisation of FIRE economy ideas in both countries.

If you read the Euro-sceptic press in Britain, you'd think for some Brits, the country could never be sufficiently American in everything it does. The Telegraph will often give you this impression (Jeff Randall is an exception).

I hate saying this - but the fact is that if Britain had to compete on quality of manufactured goods, it would struggle to compete with second rate economies, let alone Germany or Japan or even Taiwan.

[*T*]

Re: The British Pound getting KILLED!

... & at the same time took for granted prosperity from North Sea oil, which has now peaked.

[Guest]

Re: The British Pound getting KILLED!

*T* -

The British didn't derive any prosperity spontaneously from North Sea Oil. They engineered it by overissuing fiat money! The heroic GB Pound is what caused all of that North Sea oil to generate wealth for Britain! They just pumped up the volume of issued fiat money, the oil price became inflated, and Britain derived a large windfall profit by selling pricey rather than cheap petroleum! Admittedly there is a certain alchemy at work there but if you know how to do it deftly there is skads of wealth to be derived from this financial engineering. All these notions that the wealth was due to the mere ownership of a scarce resource to begin with is rubbish, propounded by those flighty Peak Oil wingnuts. Don't buy it. They built up Britain's wealth by stoking the oil price with more fiat money. Money makes the world go round and oil's price is merely a byproduct of how cleverly we manipulate fiat inflation to make us wealthy. Any financial analyst could tell you that! Without the over-issuance of skads of fiat GBP, that North Sea oil would have been selling for a pittance! :rolleyes:

... & at the same time took for granted prosperity from North Sea oil, which has now peaked.

[bart]

Re: The British Pound getting KILLED!

The Yen is TEARING IT UP!



How can it do otherwise, with the trusty Toyota Hylix at its side?

There has been very significant ESF intervention the last two weeks, per the Yen balance account - many billions going back & forth.

http://www.nowandfutures.com/grins/oz_curtain.wav

[Mega]

Re: The British Pound getting KILLED!

Did you realy have a "Suzi X7"?........Did you mod yours Luke?..........Allspeeds...Boyson raceing reeds?

Mike

[rj1]

Re: The British Pound getting KILLED!

Lets go surfin now
Everybodys learning how
Come on and safari with me
(come on and safari with...)

Early in the morning well be startin out
Some honeys will be coming along
Were loading up our woody
With our boards inside
And headin out singing our song

Come on (surfin) baby wait and see (surfin safari)
Yes Im gonna (surfin) take you surfin (surfin safari)with me
Come along (surfin) baby wait and see (surfin safari)
Yes Im gonna (surfin) take you surfin (surfin safari)with me

Lets go surfin now
Everybodys learning how
Come on and safari with me
(come on and safari with...)

All the leaves are brown
(all the leaves are brown)
And the sky is gray
(and the sky is gray)
I've been for a walk
(I've been for a walk)
On a winter's day
(on a winter's day)
I'd be safe and warm
(I'd be safe and warm)
If I was in L.A.
(if I was in L.A.)
California Dreamin'
(California Dreamin')
On such a winter's da-a-ay.

Stopped into a church
I passed along the way
Well I got down on my knees
(got down on my knees)
And I pretend to pray
(I pretend to pray)
You know the preacher likes the cold
(preacher likes the cold)
He knows I'm gonna stay
(knows I'm gonna stay)
California Dreamin'
(California Dreamin')
On such a winter's da-a-ay.

[*T*]

Re: The British Pound getting KILLED!

<< *T* reaches for small rabbit hole to hide in until the fighting stops...>>

Seriously though, it sucks to be an engineer in the UK.

[phirang]

Re: The British Pound getting KILLED!

<< *T* reaches for small rabbit hole to hide in until the fighting stops...>>

Seriously though, it sucks to be an engineer in the UK.

You can always work with my friends at Arab Micro Devices here in the states.

[Mega]

The British pound is getting KILLED!

http://www.bloomberg.com/apps/news?p...d=aQ4kgdtB5cC4

Rummor is the BOE is going negative rates.
Mike

[metalman]

Re: The British pound is getting KILLED!

http://www.bloomberg.com/apps/news?p...d=aQ4kgdtB5cC4

Rummor is the BOE is going negative rates.
Mike

gold spiking in all currencies except yen...

Gold in US dollars daily



Gold in EU euros daily



Gold in Japanese yen daily



Gold in British pound sterling daily