P.K. Posted February 20, 2013 Share Posted February 20, 2013 Thanks to Osborne's disastrous policies the £ is at it's lowest for ages against the €, maybe the lowest ever. As it's so cold you could strike matches on 'em we were wondering if Greece would be a good holiday option this summer? After all, I haven't been in a good riot for absolutely ages. What thinks you? Link to comment Share on other sites More sharing options...
Lxxx Posted February 21, 2013 Share Posted February 21, 2013 We're potentially at the start of Currency Wars. A race to the bottom as each country/trading bloc looks to inflate away the debt and make exports more attractive, to detract from the lack of growth at home. Venezuela devalued their currency by 32% against the dollar last week to boost it's economy, Japan is playing a similar game. Jim Rickards' book 'Currency Wars' is a great read, he was asked to take part in a war simulation at the Pentagon to try and help foresee what would happen if nations used their currency as a weapon as opposed to missiles. Interesting if nothing else. Link to comment Share on other sites More sharing options...
Cambon Posted February 21, 2013 Share Posted February 21, 2013 Lxxx - been going on for several years actually. You should know that due to the price of gold / silver. Of the major players, Japan is winning at the moment. Merv King being slapped down on more asset purchasing should have made the pound go up not down. Interesting times. Link to comment Share on other sites More sharing options...
Lxxx Posted February 21, 2013 Share Posted February 21, 2013 Lxxx - been going on for several years actually. You should know that due to the price of gold / silver. Of the major players, Japan is winning at the moment. Merv King being slapped down on more asset purchasing should have made the pound go up not down. Interesting times. Correct, it's now moving up a gear though. Gold/silver are the proverbial canaries in the coal-mine, as currencies weaken they should strengthen but they've been suppressed via the paper markets, which is good as they've effectively been on sale at major discounts. Link to comment Share on other sites More sharing options...
Nom de plume Posted February 21, 2013 Author Share Posted February 21, 2013 For a thoroughly depressing read ... http://www.moneyweek.com/endofbritain Link to comment Share on other sites More sharing options...
Cambon Posted February 22, 2013 Share Posted February 22, 2013 For a thoroughly depressing read ... http://www.moneyweek.com/endofbritain It is an interesting read, and quite possible. However, they are overstating the debt problem by some distance. The article says 9-12 times GDP, where the real problem is around 4 times GDP. THey get to the high figures by including things like pension liabilites which are not current, and can only be realised in the future. That said 4 times GDP is a real worry, and exactly why the IOM should not be doing things like borrowing £40M from reserves to do £40M of unnecessary construction. Funny those two figures in the budget were so similar, isn't it? It was also a great advertising campaign for Money Week. However, I did not sign up to get my "Free" report. Link to comment Share on other sites More sharing options...
b4mbi Posted February 22, 2013 Share Posted February 22, 2013 I found it quite alarmist and read with a degree of skeptism as it does read like a money week subscription advertisment. However, the UK's debt levels are clearly unsustainable should interest rates rise, but surely they are unlikely to be raised by the BoE in the near future as this would tend to curb inflation which is the only realistic way to reduce the real terms debt level (if that is the goal)? Sure I read somewhere that already more is spent on interest payments of the debt than on education and even defense? None-the-less would be interested to know what their recommendations are for protecting yourself against government raiding your savings if anyone has the subscription?!! UK water utilities?!! Link to comment Share on other sites More sharing options...
Lxxx Posted February 24, 2013 Share Posted February 24, 2013 For a thoroughly depressing read ... http://www.moneyweek.com/endofbritain A tad alarmist but they're only echoing what other respected economists, financial commentators and the like are saying as well. The UK economy is a train wreck slowly waiting to happen, as is the global economy. When it will come off the rails no-one knows, but there seems no other direction it can go, money printing to infinity can only end one way. Link to comment Share on other sites More sharing options...
Ruger Posted March 11, 2013 Share Posted March 11, 2013 Germany's new anti-EU party. http://www.telegraph.co.uk/finance/comment/ambroseevans_pritchard/9920666/Germanys-anti-euro-party-is-a-nasty-shock-for-Angela-Merkel.html US mercenary army to protect Greek parliament against rebellion. http://beforeitsnews.com/alternative/2013/03/private-u-s-mercenary-army-to-protect-the-greek-parliament-against-rebellion-2584006.html Link to comment Share on other sites More sharing options...
woolley Posted March 11, 2013 Share Posted March 11, 2013 US mercenary army to protect Greek parliament against rebellion. Hope they got paid upfront. Link to comment Share on other sites More sharing options...
woolley Posted March 11, 2013 Share Posted March 11, 2013 Thanks to Osborne's disastrous policies the £ is at it's lowest for ages against the €, maybe the lowest ever. What thinks you? How would you suggest Osborne might have changed this? Link to comment Share on other sites More sharing options...
MilitantDogOwner Posted March 11, 2013 Share Posted March 11, 2013 US mercenary army to protect Greek parliament against rebellion. http://beforeitsnews...on-2584006.html Have you been taking lessons from Lxxx and CrossRoss on finding the nuttiest websites known to man? Link to comment Share on other sites More sharing options...
P.K. Posted March 11, 2013 Share Posted March 11, 2013 How would you suggest Osborne might have changed this? Well clearly the "pastie tax" was a winner and could have saved the economy! So he should have been more hard-nosed about it.... Link to comment Share on other sites More sharing options...
Ruger Posted March 11, 2013 Share Posted March 11, 2013 US mercenary army to protect Greek parliament against rebellion. http://beforeitsnews...on-2584006.html Have you been taking lessons from Lxxx and CrossRoss on finding the nuttiest websites known to man? In other words, because the BBC haven't reported it, it didn't happen?. Google it and take your pick, I suppose Leonidas Chrysanthopoulos is just the made up character of all these nutty websites to. http://millstonenews...-civil-war.html Link to comment Share on other sites More sharing options...
MilitantDogOwner Posted March 11, 2013 Share Posted March 11, 2013 US mercenary army to protect Greek parliament against rebellion. http://beforeitsnews...on-2584006.html Have you been taking lessons from Lxxx and CrossRoss on finding the nuttiest websites known to man? In other words, because the BBC haven't reported it, it didn't happen?. Google it and take your pick, I suppose Leonidas Chrysanthopoulos is just the made up character of all these nutty websites to. http://millstonenews...-civil-war.html Not at all, but please do try a bit harder when looking for a "credible" website. Next you'll be telling us the stories on The Onion are real... Link to comment Share on other sites More sharing options...
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