£ is it going to 40 or 50 ?

[Parkwahn 61]

I think the £ will drop to 40 , based on the UKs debt and inabilty to service its debt

[MeGoDanceNow 4,281]

Short-term, headed down, due to uncertainty re the deficit and coalition government. After a year or two, headed higher, as the results of austerity measures start to become clear.

 

I'd rather be holding pounds than greenbacks, personally.

 

Disclosure: Have neither.

 

Buy gold and silver, that's your best bet.

[Parkwahn 61]

Short-term, headed down, due to uncertainty re the deficit and coalition government. After a year or two, headed higher, as the results of austerity measures start to become clear.

 

I'd rather be holding pounds than greenbacks, personally.

 

Disclosure: Have neither.

 

Buy gold and silver, that's your best bet.

 

 

Silver is undervalued IMHO, but the £ was 38/40 for many years the 75s were unrealistic

[pattaya_mad 208]

I think the £ will drop to 40 , based on the UKs debt and inabilty to service its debt

 

weve been in debt for over a year now..so why hasnt it dropped down to 40 yet rather than hovering up around the 47/48 level..if your that good at forcasting currencies then why are u posting on a mongers site?

[Parkwahn 61]

weve been in debt for over a year now..so why hasnt it dropped down to 40 yet rather than hovering up around the 47/48 level..if your that good at forcasting currencies then why are u posting on a mongers site?

 

 

I thought it was Pattaya Talk ? Things around Pattaya ?

 

Its my view mate, like any other poster I am allowed one, so good at forecasting well I live here on my forcasts

 

Also the true position of the debt has ony been found out since the election, it was 52 in Jan/Feb................ and 55 last Xmas.

Edited November 7, 2010 by lemon face

[CheshireTom 1,377]

I thought it was Pattaya Talk ? Things around Pattaya ?

 

Its my view mate, like any other poster I am allowed one, so good at forecasting well I live here on my forcasts

 

Also the true position of the debt has ony been found out since the election, it was 52 in Jan/Feb................ and 55 last Xmas.

 

... and 48.80 at the date of the election, compared to 47.80 now - so what's been found out?

[danboy 151]

I reckon it will hit 50 before 40 and with a bit of luck before Xmas

[tom21 19]

it will follow the ua dollar which at the moment is down

[GlynRhedyn 32]

I reckon it will hit 50 before 40 and with a bit of luck before Xmas

I hope you're right. Hopefully the £ has hit rock bottom and will now slowly get stronger.

Glyn.

[Gus 97]

If you want the GBP rate to rise, then someone has to put some Duct Tape over Mervyn Kings mouth.

[chris2004 67]

If you want the GBP rate to rise, then someone has to put some Duct Tape over Mervyn Kings mouth.

 

He does it on purpose because the Government want a low Pound. They THINK it helps exports. What they forgot was that we don't make anything any more.

[Bush Pig 11]

I think the £ will drop to 40 , based on the UKs debt and inabilty to service its debt

 

Dismantle the Wasteful Welfare State and put a halt to the third world's colonisation of the UK and the pound will rise to new heights.

 

Allow the Wasteful Welfare State to increase the diversion of resources from the productive sectors to the non-productive sectors and allow the third world colonisation to continue and the pound will fall to new lows.

 

The outcome is quite predictable and the choice will be up to the British at least until they allow themselves to be outnumbered in their own country in which case all is lost as the country continues it's Downward slide until it resembles the third world countries the colonisers come from.

[Parkwahn 61]

... and 48.80 at the date of the election, compared to 47.80 now - so what's been found out?

 

 

Thats a drop bigger tha 2% mate

[Parkwahn 61]

Dismantle the Wasteful Welfare State and put a halt to the third world's colonisation of the UK and the pound will rise to new heights.

 

Allow the Wasteful Welfare State to increase the diversion of resources from the productive sectors to the non-productive sectors and allow the third world colonisation to continue and the pound will fall to new lows.

 

The outcome is quite predictable and the choice will be up to the British at least until they allow themselves to be outnumbered in their own country in which case all is lost as the country continues it's Downward slide until it resembles the third world countries the colonisers come from.

 

 

You see the long term future unless change is made you are correct, sad for Uk but true I woul love to able to counter the view but I cant.

[CheshireTom 1,377]

Thats a drop bigger tha 2% mate

 

Compared to an 11% drop in the previous 6 months.

[Parkwahn 61]

Compared to an 11% drop in the previous 6 months.

 

 

Yes on top of that fall See how bad it is

[Bush Pig 11]

weve been in debt for over a year now..so why hasnt it dropped down to 40 yet rather than hovering up around the 47/48 level..if your that good at forcasting currencies then why are u posting on a mongers site?

 

The post was asking for "your view" which is what I understood LF to be giving.

 

Even if I have misunderstood the post then you are making a currency forecast also.

 

Perhaps your tone results more from a 'view' as to where you would like the pound go as opposed to a view of where it is heading.

[CheshireTom 1,377]

Yes on top of that fall See how bad it is

 

No. The USD has fallen over 10% against the THB over the same 6 month period since the UK election which means the GBP has risen significantly against the USD.

[Parkwahn 61]

No. The USD has fallen over 10% against the THB over the same 6 month period since the UK election which means the GBP has risen significantly against the USD.

 

 

I am talking v the baht

 

You showed 11% in 6 then a further 2% since election mate, your figures how can you say no ?

Edited November 8, 2010 by lemon face

[saints 0]

I would say it's more likely to be 50 than 40 simply because it nearer there now.

I think asking will it hit 40 or 55 an equal swing either way would a harder question.

[CheshireTom 1,377]

I am talking v the baht

 

You showed 11% in 6 then a further 2% since election mate, your figures how can you say no ?

 

Your claim was that the extent of the UK's financial troubles has only been realised since the election. During that 6 month period, the GBP has risen significantly in value against the USD and maintained its position against the Euro. That means the GBP has proved to be stronger than the USD, as good as the EUR but less so than the THB. That points to the relative strength of the THB, rather than the significance of further UK financial troubles being uncovered during the 6 month period.

[Parkwahn 61]

Your claim was that the extent of the UK's financial troubles has only been realised since the election. During that 6 month period, the GBP has risen significantly in value against the USD and maintained its position against the Euro. That means the GBP has proved to be stronger than the USD, as good as the EUR but less so than the THB. That points to the relative strength of the THB, rather than the significance of further UK financial troubles being uncovered during the 6 month period.

 

 

Your view is like two people in a swamp, the drowning guy is thinking he is lucky he never got eat by the croc, 3 mins later he drowned.

 

Benchmarking against people doing worse is not the way forward, as you stated the £ droped 11% then 2%, check the bahts value v the aussie $ or the Danish Krona over 5 years.

 

The issue is the poor management of the UK 11% and 2% is proof of that, the two currencys above have seen a 5% decline the £ has shown a 33% decline , its the £ thats shot mate

[Parkwahn 61]

I would say it's more likely to be 50 than 40 simply because it nearer there now.

I think asking will it hit 40 or 55 an equal swing either way would a harder question.

 

 

The Bank of England will raise interest rates in the next 4 months by .25% I think, back end of next year could see 2.00% base rate they just to stop wasting money on scroungers and muggy public sector clowns.

 

 

(PS nice to see you are here mate)

[Bush Pig 11]

The UK (Welfare Wasting State) system of borrowing money the UK doesn't have, and can't afford, from productive people in other countries, in order to pay non-productive individuals in the UK is unsustainable in the long term and if allowed to continue I would think the results would be obvious even to the economically illiterate.

 

In the absence of change to the 'longterm' policy of the, something for nothing, Welfare Waste System the direction of the UK economy and currency is so obvious that I feel no need to state it.

Edited November 8, 2010 by Bush Pig

[Parkwahn 61]

The UK (Welfare Wasting State) system of borrowing money the UK doesn't have, and can't afford, from productive people in other countries, in order to pay non-productive individuals in the UK is unsustainable in the long term and if allowed to continue I would think the results would be obvious even to the economically illiterate.

 

In the absence of change to the 'longterm' policy of the, something for nothing, Welfare Waste System the direction of the UK economy and currency is so obvious that I feel no need to state it.

 

 

Hence my view, if you spend more than you earn whether a person, a business a company sooner or later you are skint.

 

Borrowing to invest os one thing, borrowing to throw away is not the way to financial stability , again you are spot on mate.