£ is it going to 40 or 50 ?

[CheshireTom 1,377]

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

 

It's only 6 months since the UK election, not 5 years. Or were you referring to the 2005 General Election?

 

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 8, 2010 by CheshireTom

[Parkwahn 61]

It's only 6 months since the UK election, not 5 years. Or were you referring to the 2005 General Election?

 

 

Yes I know that, I am saying the £ is shot and has got worse since the election the evidence I was using against the two properly managed countries shows the baht has gained 5% not 33%.

 

The £ is shot end of story

[saints 0]

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)

 

 

Nice to see you too

 

YOU KNOW THAT lol

 

I don't think The BOE care two shits what the exchange rate is with the Baht

Whether the baht goes up or down will be decided by the Bank of Thailand

Can't see them wanting the baht going to 40 that will mean about 25 to the $ as there exports will be badly hit I'd imagine

[elway69 20]

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

 

I thought the 75's were very real.

[neil324 0]

Not so much Pound weakness but Baht strength, emerging markets are being flooded with all the Us QE money which is leaking out looking for a higher rate of return, so making their currencies rise. With the Fed announcing another 1.2trillion annualized last week it's not looking good. Although many countries are unhappy with the FED move and considering capital controls. It's starting to descend into currency war and protectionism like the 1930's depression which will benefit no one.

 

I suspect the move by the FED is in more in reaction to China failing to let their currency appreciate, so to flood the world with money to force inflation on them. The G20 meeting next week sparks should start to fly.

Edited November 8, 2010 by neil324

[jacko 8,786]

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.

Well we used to make jet engines.......