The British Pound £ falls off a cliff!

[Mega]

Watch out below!!!!
Mike

[hayekvindicated]

Re: The British Pound £ falls off a cliff!

Britain is bankrupt.

It went broke three times in the 20th century and got bailed out by the US each time. This time, the US may not be able to bail out Britain.

So what happens next? I believe Britain is going to become a bigger version of Iceland. I am in the process of planning to go back to India - there will come a point with the tumbling currency when I could make much more back home than here (and with lower taxes and servants at my disposal ). After a point, it will make no sense whatsoever to continue to work in the City.

Fortunately, I got out of almost all my sterling cash in time and have stashed it away from the jurisdiction of the Inland Revenue Service.

I anticipate a balance of payments crisis within a year. And after that, who knows. Blair and Brown made it a point to lecture the world when the going was good. Now let's see what they have to say.

[LargoWinch]

Re: The British Pound £ falls off a cliff!

I am glad I turned down Master in Financial Engineering offers in London last year.

I would now be looking for a job at banks (gulp!) in one of the most expansive city in the world while paying my tuition fees.

...and would enjoy a lot of this:

[hayekvindicated]

Re: The British Pound £ falls off a cliff!

I am glad I turned down Master in Financial Engineering offers in London last year.

I would now be looking for a job at banks (gulp!) in one of the most expansive city in the world while paying my tuition fees.

...and would enjoy a lot of this:

Smart move.

I have wanted to get out of law for quite some time. I considered doing an MBA or a masters in Finance a few times. The cost/reward ratios just didn't add up. Which is why the hordes of people queing up to do MBAs made no sense to me whatsoever.

The MBA (especially from a top US School) has to be the most over-priced useless college degree one could try to get today. It hasn't made sense to me for quite some time and still doesn't.

[LargoWinch]

Re: The British Pound £ falls off a cliff!

Smart move.


The MBA (especially from a top US School) has to be the most over-priced useless college degree one could try to get today. It hasn't made sense to me for quite some time and still doesn't.

I wish there would be a way to short it...

[hayekvindicated]

Re: The British Pound £ falls off a cliff!

I wish there would be a way to short it...

If the B-Schools were listed companies, this would be a piece of cake.

[Chris]

Re: The British Pound £ falls off a cliff!

You can (indirectly) but you're a little late. EMG

[Techdread]

Re: The British Pound £ falls off a cliff!

Watch out below!!!!
Mike

Great Makes the precious metal correction paltable;)