Pound suffers worst fall in 41 years

Swanny · 10-25-2008, 11:08 AM

Quote:

As foreign investors abandon the UK, the pound has lost a quarter of its value against the dollar over the past year – more than was suffered in 1967, 1976 or in the year after 1992's Black Wednesday. Sterling yesterday suffered its biggest intra-day fall in recorded history, dropping at one stage by 9.6 cents against the dollar, and falling to its lowest overall level in 12 years.

http://www.telegraph.co.uk/finance/f...-41-years.html

Ouch!!!!

Knightbk · 10-25-2008, 11:45 AM

Woot! Cheaper exports!

Kulapops · 10-25-2008, 12:40 PM

There seems to have been some efforts in the last months to influence the dollar value, the paper value of gold falling and the USD index rising when it really should be going the other way.

Perhaps this is a reason why the dollar has an inflated 'high' value currently against the pound. The euro is also tied into the dollar and if the dollar falls, then the euro will too. Perhaps then the pound will have regained it's ground... but I guess by then it will be academic ! If that happens.

I recommend the following for really interesting updates on the financials. I think this guy really has his head screwed on and he seems to write with his heart and a care for people too. It's not just for people with megabucks (his info is free anyway) but he really comments on what's happening and what the government's are doing financially.

http://www.jsmineset.com/

Jim Sinclair maintains that the dollar will trade at .72, .62 and then .52 it's currently in the low eighties.

Thanks for bringing up the currency issue Swanny !

nigel2285 · 11-11-2008, 03:54 PM

Quote:

Originally Posted by Kulapops

There seems to have been some efforts in the last months to influence the dollar value, the paper value of gold falling and the USD index rising when it really should be going the other way.

Perhaps this is a reason why the dollar has an inflated 'high' value currently against the pound. The euro is also tied into the dollar and if the dollar falls, then the euro will too. Perhaps then the pound will have regained it's ground... but I guess by then it will be academic ! If that happens.

I recommend the following for really interesting updates on the financials. I think this guy really has his head screwed on and he seems to write with his heart and a care for people too. It's not just for people with megabucks (his info is free anyway) but he really comments on what's happening and what the government's are doing financially.

http://www.jsmineset.com/

Jim Sinclair maintains that the dollar will trade at .72, .62 and then .52 it's currently in the low eighties.

Thanks for bringing up the currency issue Swanny !

prediction for pound goes even or close to euro uk switches to euro. dollar crashes taking euro with it and then you will see one world currency one world order just a thinking what do you think pound is now 1.21 vs euro

Swanny · 11-11-2008, 06:35 PM

They will switch us to the euro very soon at this rate

twiceborn · 11-11-2008, 07:39 PM

Why not cash your pounds for euros now before they screw you again, what do you think.

AndyH · 11-11-2008, 07:48 PM

If you must have foreign currency then buy swiss francs.

I see the pounds decline and the dollar but not the euro immediately. Certainly the UK govt can start mentioning a change to the euro when it's around the 90p to 1 euro mark.
It's still a long way off that though.

THE eXchanger · 11-11-2008, 07:50 PM

canada, can be a good country to invest in

nigel2285 · 11-12-2008, 03:34 PM

euros are coming sooner than we think, if the pound crashes quickly the govnerment will step in and change.the public will not have a say in it, i dont see them printing euros off in time for the change. you could see the first cash less nation maybe?

any one agree?

Leadman · 11-12-2008, 05:38 PM

Quote:

Originally Posted by eXchanger

canada, can be a good country to invest in

Until it gets the Amero!

THE eXchanger · 11-12-2008, 05:39 PM

i do NOT think that will happen
our monetary system, is quite different from the usa one

nigel2285 · 11-16-2008, 08:46 AM

shadow minister warns yesterday pound could collapse. now he is retracking statment, its a warning start stocking up people euro here we come.
once we go others will fall, iceland is in the same boat .

AndyH · 11-16-2008, 12:07 PM

Quote:

Originally Posted by nigel2285

shadow minister warns yesterday pound could collapse. now he is retracking statment, its a warning start stocking up people euro here we come.
once we go others will fall, iceland is in the same boat .

I'm very concerned about Iceland.
As a Brit I feel betrayed by Gordon Browns words, it goes against everything Britain should be about. The icelandic people are a lovely bunch, they don't deserve this.
I can only hope that Iceland manages to stay outside the EU & the euro, but looking at the situation one cannot see much alternative for them in the long run.

pineal-pilot-in merkabah · 11-16-2008, 12:41 PM

Quote:

Originally Posted by eXchanger

i do NOT think that will happen
our monetary system, is quite different from the usa one

no it isnt it owned by the same federal reserve banking people.. your money is garbage same as dollar and pound euro ect.(canada will pop when the dollar pops.. mexicans wont feel any difference since canda and usa are being bought into line with said peso value). fiat paper ..

pineal-pilot-in merkabah · 11-16-2008, 12:42 PM

Quote:

Originally Posted by Knightbk

Woot! Cheaper exports!

that would be cool if we made stuff and that other countries wer'nt bankrupt also..

pineal-pilot-in merkabah · 11-16-2008, 12:48 PM

Quote:

Originally Posted by AndyH

I'm very concerned about Iceland.
As a Brit I feel betrayed by Gordon Browns words, it goes against everything Britain should be about. The icelandic people are a lovely bunch, they don't deserve this.
I can only hope that Iceland manages to stay outside the EU & the euro, but looking at the situation one cannot see much alternative for them in the long run.

gordon brown is aNWO puppet, why would you not feel betryaed by a puppet politician>?? ireland is bankrupt, britain is bankrupt, euro zone apart from germany is bankrupt.. global slow motion collapse.. thanfully it gives us a weee bit more time to prepare.

the pound died on october 14th when thyey guatanteed the money markets..im wondering if we get plunged into the euro for our fix of hyper inflation or wether we will keep the pound and have wheel barrows full of pounds.. im inclined to think we get a hyperinflated pound first then pehaps be the first cashless nation on earth like suggested above..

eugene_vn · 11-16-2008, 01:19 PM

If it's any consolation, the pound is due for a rally to around 1.67 over the next 6-8 months. However, further deterioration to levels not seen since 1984-1985 should ensue after that.

Of course, if the US dollar gets wiped out around the same time (summer 2009 as many are predicting) then the entire world currency system could change (e.g. UK starting to use the euro. USA using the amero. . .) in such a way that it is no longer possible to rate the pound's strength in terms of its relative value to the US dollar, Swiss franc, etc.

Pure_energy · 11-16-2008, 08:52 PM

Quote:

Originally Posted by pineal-pilot-in merkabah

no it isnt it owned by the same federal reserve banking people.. your money is garbage same as dollar and pound euro ect.(canada will pop when the dollar pops.. mexicans wont feel any difference since canda and usa are being bought into line with said peso value). fiat paper ..

I agree with you mate. Every country uses the same moder money mechanics and therfore are trap ( if not with the same family ) with the same system.

The increase of value of the dollar is easly explained.

Imagine a meteoroid colliding in the sea. If you are at the shore you will not see the massive wave at first. What you will see is the sea going back and then a massive wave. That is what is happening now. With all the troble in US all the people that had money ( dollars ) invested in UK or in any part of the globe are withdrawing their money to save their asses is US but soon it would be no money left to save them and the big wave will come.

Imagine that you have 100k pounds invested in a saving account in US and you are feeling that the market there is going to crash or maybe your business in UK is feeling the heat and you need that money. You take that money back meaning that there is less pounds in US making the pound there stronger ( less pounds in a place makes harder to buy therefore more expensive ).

That is what is happening, business from US are trying to save themselves and soon there will be nowhere to run.

I also agree with the people that say we are going to euro soon. My friends keep teling me that we need a Plebiscit ( people are ask to vote pro or against it ) but the fact is that on this is a control demolition and at the end people will ask to be on euro on a hope to be saved.

Peace

piers2210 · 11-22-2008, 02:53 AM

Stock up your shelves folks....

The food shelves will be empty soon. This is because the distribution network is being strangled by the banks, who issue letters of credit. This has been coming for a while to be honest, but is a real event now.

LaRouche has got it right:

www.larouchepac.com/node/11837/print

True and frightening

Swanny · 12-11-2008, 05:49 PM

The Pound is taking a beating against the Euro at the mo

Swanny · 12-29-2008, 10:11 PM

£1 = €1.02522

Egg · 12-29-2008, 11:19 PM

£ can be less than the Euro piece of **** for all I care. I am still not voting for scrapping the £.

If they try that, I have to say I will surrender my british passport on my way out of the country to raise an army and return to claim England back for us natives and throw out every single europhile and sycopantic little **** who supports Brussels.

So I will, so there.

Delphi · 12-29-2008, 11:33 PM

No wonder the alarm bells rang in my head when Mandelson was brought back into the cabinet!

Egg · 12-29-2008, 11:38 PM

Quote:

Originally Posted by Delphi

No wonder the alarm bells rang in my head when Mandelson was brought back into the cabinet!

The prince of darkness and Marions 'oh so ever so best friend' mandy a harbinger of doom? never! could it be? lol.

piers2210 · 12-30-2008, 12:10 AM

Since the first post in this thread (and the article in the telegraph which showed a rate of $1.58 to £1, and a fall of nearly 10% on that day on Oct) the pound has continued to fall and is now at $1.43 to £1 today.

And as Swanny pointed out above, the euro is now basically on par with the pound.

For all those who like to buy imported foods and goods, or like to holiday outside the British Isles (or maybe live overseas but are paid in Pounds) the continuing fall of the pound against ALL currencies (including the weak asian currencies) is a disaster. As the fall affects so many, the likelihood of the euro being ushered in as a replacement for the pound cannot be far away.

Its part of the plan.....

The only currency the pound may rally with in the new year is probably going to be the dollar as the usa is as bankrupt as the pound.

But we should expect continued downwards currency movement this coming year.

10-25-2008, 11:45 AM	#2
Knightbk Avalon Senior Member Join Date: Oct 2008 Posts: 73	Re: Pound suffers worst fall in 41 years Woot! Cheaper exports!

10-25-2008, 12:40 PM	#3
Kulapops Avalon Senior Member Join Date: Sep 2008 Location: Torbay, UK Posts: 704	Re: Pound suffers worst fall in 41 years There seems to have been some efforts in the last months to influence the dollar value, the paper value of gold falling and the USD index rising when it really should be going the other way. Perhaps this is a reason why the dollar has an inflated 'high' value currently against the pound. The euro is also tied into the dollar and if the dollar falls, then the euro will too. Perhaps then the pound will have regained it's ground... but I guess by then it will be academic ! If that happens. I recommend the following for really interesting updates on the financials. I think this guy really has his head screwed on and he seems to write with his heart and a care for people too. It's not just for people with megabucks (his info is free anyway) but he really comments on what's happening and what the government's are doing financially. http://www.jsmineset.com/ Jim Sinclair maintains that the dollar will trade at .72, .62 and then .52 it's currently in the low eighties. Thanks for bringing up the currency issue Swanny !

11-11-2008, 06:35 PM	#5
Swanny I dont need a label ! Join Date: Sep 2008 Location: The Shire of Wilt Posts: 2,889	Re: Pound suffers worst fall in 41 years They will switch us to the euro very soon at this rate

11-11-2008, 07:39 PM	#6
twiceborn Avalon Senior Member Join Date: Oct 2008 Posts: 15	Re: Pound suffers worst fall in 41 years Why not cash your pounds for euros now before they screw you again, what do you think.

11-11-2008, 07:48 PM	#7
AndyH Avalon Senior Member Join Date: Sep 2008 Location: Ireland Posts: 289	Re: Pound suffers worst fall in 41 years If you must have foreign currency then buy swiss francs. I see the pounds decline and the dollar but not the euro immediately. Certainly the UK govt can start mentioning a change to the euro when it's around the 90p to 1 euro mark. It's still a long way off that though.

11-11-2008, 07:50 PM	#8
THE eXchanger Avalon Senior Member Join Date: Aug 2008 Location: Spiritual eXplorer-Canada Posts: 4,915	Re: Pound suffers worst fall in 41 years canada, can be a good country to invest in

11-12-2008, 03:34 PM	#9
nigel2285 Avalon Senior Member Join Date: Sep 2008 Location: south wales,uk Posts: 26	Re: Pound suffers worst fall in 41 years euros are coming sooner than we think, if the pound crashes quickly the govnerment will step in and change.the public will not have a say in it, i dont see them printing euros off in time for the change. you could see the first cash less nation maybe? any one agree?

11-12-2008, 05:39 PM	#11
THE eXchanger Avalon Senior Member Join Date: Aug 2008 Location: Spiritual eXplorer-Canada Posts: 4,915	Re: Pound suffers worst fall in 41 years i do NOT think that will happen our monetary system, is quite different from the usa one

11-16-2008, 08:46 AM	#12
nigel2285 Avalon Senior Member Join Date: Sep 2008 Location: south wales,uk Posts: 26	Re: Pound suffers worst fall in 41 years shadow minister warns yesterday pound could collapse. now he is retracking statment, its a warning start stocking up people euro here we come. once we go others will fall, iceland is in the same boat .

11-16-2008, 01:19 PM	#17
eugene_vn Avalon Senior Member Join Date: Sep 2008 Posts: 31	Re: Pound suffers worst fall in 41 years If it's any consolation, the pound is due for a rally to around 1.67 over the next 6-8 months. However, further deterioration to levels not seen since 1984-1985 should ensue after that. Of course, if the US dollar gets wiped out around the same time (summer 2009 as many are predicting) then the entire world currency system could change (e.g. UK starting to use the euro. USA using the amero. . .) in such a way that it is no longer possible to rate the pound's strength in terms of its relative value to the US dollar, Swiss franc, etc.

11-22-2008, 02:53 AM	#19
piers2210 Avalon Senior Member Join Date: Oct 2008 Posts: 403	Re: Pound suffers worst fall in 41 years Stock up your shelves folks.... The food shelves will be empty soon. This is because the distribution network is being strangled by the banks, who issue letters of credit. This has been coming for a while to be honest, but is a real event now. LaRouche has got it right: www.larouchepac.com/node/11837/print True and frightening

12-11-2008, 05:49 PM	#20
Swanny I dont need a label ! Join Date: Sep 2008 Location: The Shire of Wilt Posts: 2,889	Re: Pound suffers worst fall in 41 years The Pound is taking a beating against the Euro at the mo

12-29-2008, 10:11 PM	#21
Swanny I dont need a label ! Join Date: Sep 2008 Location: The Shire of Wilt Posts: 2,889	Re: Pound suffers worst fall in 41 years £1 = €1.02522

12-29-2008, 11:19 PM	#22
Egg Banned Join Date: Dec 2008 Posts: 727	Re: Pound suffers worst fall in 41 years £ can be less than the Euro piece of ** for all I care. I am still not voting for scrapping the £. If they try that, I have to say I will surrender my british passport on my way out of the country to raise an army and return to claim England back for us natives and throw out every single europhile and sycopantic little ** who supports Brussels. So I will, so there.

12-29-2008, 11:33 PM	#23
Delphi Avalon Senior Member Join Date: Sep 2008 Location: Scotland Posts: 126	Re: Pound suffers worst fall in 41 years No wonder the alarm bells rang in my head when Mandelson was brought back into the cabinet!

12-30-2008, 12:10 AM	#25
piers2210 Avalon Senior Member Join Date: Oct 2008 Posts: 403	Re: Pound suffers worst fall in 41 years Since the first post in this thread (and the article in the telegraph which showed a rate of $1.58 to £1, and a fall of nearly 10% on that day on Oct) the pound has continued to fall and is now at $1.43 to £1 today. And as Swanny pointed out above, the euro is now basically on par with the pound. For all those who like to buy imported foods and goods, or like to holiday outside the British Isles (or maybe live overseas but are paid in Pounds) the continuing fall of the pound against ALL currencies (including the weak asian currencies) is a disaster. As the fall affects so many, the likelihood of the euro being ushered in as a replacement for the pound cannot be far away. Its part of the plan..... The only currency the pound may rally with in the new year is probably going to be the dollar as the usa is as bankrupt as the pound. But we should expect continued downwards currency movement this coming year.