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View Full Version : €1.11/£ - Flash crash my lower rear anatomy



scooterscot
7th October 2016, 05:22
Don't panic! Don't panic!

But Skynet might panic and just wipe out the lot us. You've been warned.

Flash crash 'triggered by algorithm' drags pound lower
(http://www.bbc.com/news/business-37582150)

BrilloPad
7th October 2016, 06:44
Fluct-u-asians. No Fluck-u-britishers....

Platypus
7th October 2016, 07:00
I'm not panicking - I'm getting a payrise :happy

ChimpMaster
7th October 2016, 07:27
Hmm maybe I will go take that contract in Belgium. 750 Euros/day didn't sound too appealing before but it's sounding better by the day :eyes

sirja
7th October 2016, 07:42
You are the resistance!

tomtomagain
7th October 2016, 08:24
When starting my company the best decision I made was to price my software in dollars.

scooterscot
7th October 2016, 10:02
Hello €1.10/£

Where will this end. I was jesting about parity by Christmas. Feck it, a full on crash of the currency could be interesting...

The_Equalizer
7th October 2016, 10:07
Hello €1.10/£

Where will this end. I was jesting about parity by Christmas. Feck it, a full on crash of the currency could be interesting...

I presume you're wishing this on your fellow Scots too.

Eirikur
7th October 2016, 10:16
Thanks to the brexiteers my European savings are suddenly worth almost 20% more then they were 4 months ago
At this moment:

Pound - Euro 1.1029 was over 1.30 on June 22nd
Pound - dollar 1.227 was 1.47 on June 22nd

Transferring a substantial amount of pounds into my Euro accounts just before the brexit vote turned out to be the right choice and has given me a huge profit

tomtomagain
7th October 2016, 10:29
Time to buy your Xmas presents now before inflation starts raising its ugly head.

The_Equalizer
7th October 2016, 10:31
Time to buy your Xmas presents now before inflation starts raising its ugly head.

It's not exactly the Weimar Republic. :wink

tomtomagain
7th October 2016, 10:46
It's not exactly the Weimar Republic. :wink

Well I was thinking about 3 - 4% price rises on imported goods. Not a couple of million %.

We've never been as good at Hyperinflation as the Germans ....

But now you have opened a can of worms. Expect the usual "Gold-bugs" to appear and start blethering about "fiat-currency".

scooterscot
7th October 2016, 11:03
I presume you're wishing this on your fellow Scots too.

Yeah feck em;)

The_Equalizer
7th October 2016, 11:06
Yeah feck em;)

55% aren't real Scots anyway. :wink

scooterscot
7th October 2016, 11:40
55% aren't real Scots anyway. :wink

Aye ken, bet they are queuing for Scottish citizenship the noe.

_V_
8th October 2016, 08:46
I know it's the Daily Mail, but this bit I found interesting:

Computer reading a Brexit report in the FT may have triggered a crash of the pound | Daily Mail Online (http://www.dailymail.co.uk/news/article-3828035/Did-computer-reading-doom-laden-Brexit-report-FT-trigger-flash-crash-pound.html)


However there is widespread speculation that some of the crucial ‘sell’ orders which sparked the panic were placed by computers which – much like the fictional VIXAL-4 – attempt to predict the direction of markets by analysing breaking news headlines.

To this end, it is intriguing to note the contents of an article that was published on the website of the Financial Times newspaper (FT) at the all-important time of exactly 00.07am.

Headlined ‘Hollande demands tough Brexit negotiations’, it contained quotes from a Thursday night dinner in Paris at which the French president, Francois Hollande, announced that Britain would have to ‘suffer’ for choosing to leave the European Union. ‘There must be a price’ for Brexit was how he put it.

Importantly, the tone of the FT piece, and the robust language in both its headline and major quotes, made it especially likely to have been flagged by algorithms.

In this particular case, the machines may have concluded that Mr Hollande’s comments raised the medium-term risk of a trade war that might weaken the pound and strengthen the dollar.



Do these poor computers have to read the Daily Mail as well?

scooterscot
8th October 2016, 08:52
Quantum computers crash when reading the DM.

GB9
8th October 2016, 09:51
I know it's the Daily Mail, but this bit I found interesting:

Computer reading a Brexit report in the FT may have triggered a crash of the pound | Daily Mail Online (http://www.dailymail.co.uk/news/article-3828035/Did-computer-reading-doom-laden-Brexit-report-FT-trigger-flash-crash-pound.html)



Do these poor computers have to read the Daily Mail as well?

It's difficult for them when 99% of the stuff they have to plough through is moaning.

SueEllen
8th October 2016, 09:58
It's difficult for them when 99% of the stuff they have to plough through is moaning.

They need to know what will cause humans to get cancer to help them with their plans of world domination.

scooterscot
8th October 2016, 10:01
They need to know what will cause humans to get cancer to help them with their plans of world domination.

Cause? Easy, Windows 10. It'll give you a brain tumour trying to understand it.

Paddy
8th October 2016, 15:42
deja vu

UK Devaluation of Sterling 1967 | Economics Help (http://www.economicshelp.org/blog/18582/unemployment/uk-devaluation-of-sterling-1967/)


In 1967, the UK government of Harold Wilson devalued the Pound from $2.80 to $2.40 (a devaluation of 14%).

After the devaluation, there was no economic miracle, growth remained below our competitors, inflation rose and it did not solve the underlying issues in the UK economy.

NotAllThere
8th October 2016, 16:31
...Do these poor computers have to read the Daily Mail as well?


It's difficult for them when 99% of the stuff they have to plough through is moaning.Why would that be? Isn't the DM solidly Brexit?

GB9
8th October 2016, 18:07
Why would that be? Isn't the DM solidly Brexit?

Other papers are available.

NotAllThere
9th October 2016, 06:15
Other papers are available.My word. Sofa king...

_V_
9th October 2016, 20:36
deja vu

UK Devaluation of Sterling 1967 | Economics Help (http://www.economicshelp.org/blog/18582/unemployment/uk-devaluation-of-sterling-1967/)

Labour govt. Unions. Strikes. Negative productivity.


In a radio and television broadcast this evening, the Prime Minister said devaluation would enable Britain to " break out from the straitjacket" of boom and bust economics.

Gordon Brown school of leftist economics. Therefore totally ****ed.

Paddy
9th October 2016, 21:21
Labour govt. Unions. Strikes. Negative productivity.


Gordon Brown school of leftist economics. Therefore totally ****ed.


A lower pound will not necessarily help all exports, the way of manufacturing and business have changed. For example the UK will not be capable of producing a car from start to finish without importing. Companies like Easyjet are already suffering due to the drop in the pound

https://www.ft.com/content/18048862-6519-3cbb-8c3a-149ce6d9a982

tarbera
11th October 2016, 11:37
Exchange at city airport was offering 1 euro to £1 note last night !!

Trips have suddenly become more expensive

scooterscot
11th October 2016, 11:53
Wait until they're charing £1.20 to the € :D

DodgyAgent
11th October 2016, 12:35
deja vu

UK Devaluation of Sterling 1967 | Economics Help (http://www.economicshelp.org/blog/18582/unemployment/uk-devaluation-of-sterling-1967/)

Four ways the UK can take advantage of a weaker pound (http://www.telegraph.co.uk/business/2016/10/10/four-ways-the-uk-can-take-advantage-of-a-weaker-pound/)

The trouble is, past devaluations of sterling have not always led to greater competitiveness.

In the 1960s, they were a cover for higher government spending.

In the 1970s, they were an excuse for an inflationary wage-price spiral that left nobody better off. This time, we should make sure a cheaper pound strengthens our economy.

d000hg
11th October 2016, 12:40
Wish I'd paid for my holiday and loaded my € debit card when I booked now!

Also wish we'd pulled the trigger on buying a Scandinavian log cabin (€140k or so) when we were considering it :(

scooterscot
11th October 2016, 13:54
Wish I'd paid for my holiday and loaded my € debit card when I booked now!

Also wish we'd pulled the trigger on buying a Scandinavian log cabin (€140k or so) when we were considering it :(

Cheer up, today's bad price is tomorrow's great price! Buy! Buy!

Paddy
11th October 2016, 14:45
Four ways the UK can take advantage of a weaker pound (http://www.telegraph.co.uk/business/2016/10/10/four-ways-the-uk-can-take-advantage-of-a-weaker-pound/)

The trouble is, past devaluations of sterling have not always led to greater competitiveness.

In the 1960s, they were a cover for higher government spending.

In the 1970s, they were an excuse for an inflationary wage-price spiral that left nobody better off. This time, we should make sure a cheaper pound strengthens our economy.



And all from a writer of fiction

he aslo mentioned was:-

It [the pound] is now the second worst-performing mainstream currency in the world this year, second only to another peso, the Argentinean one

To capitalise on this one, we need to find ways of targeting industries that can exploit a cheaper pound,

BlasterBates
11th October 2016, 14:49
And all from a writer of fiction

he aslo mentioned was:-

It [the pound] is now the second worst-performing mainstream currency in the world this year, second only to another peso, the Argentinean one

To capitalise on this one, we need to find ways of targeting industries that can exploit a cheaper pound,

Dropped again today, David Davis amongst others talking the pound down, we're slowly grinding are way down to parity against the EUR. :D