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Francko
6th October 2010, 13:39
Ok, as the trend continues England will soon be worth nothing.

You'd have to call the charity to have someone picking up your stuff as it's not even worth getting it for free.

A pity I do have an expensive family to maintain... if I could only save a few swiss francs a month...

gingerjedi
6th October 2010, 13:44
Ok, as the trend continues England will soon be worth nothing.

You'd have to call the charity to have someone picking up your stuff as it's not even worth getting it for free.

A pity I do have an expensive family to maintain... if I could only save a few swiss francs a month...

So my debt is worth less. :banana:

BoredBloke
6th October 2010, 14:16
Perhaps leaving my contract in Geneva in June was not a wise move since the pound has gone from about 1.7 to around 1.53 - that's about £50 a day extra because of the exchange rate!

Jog On
6th October 2010, 14:23
It's still gaining vs the USD as per the current "trend"

$1.6 in sight

Doggy Styles
6th October 2010, 15:20
Ok, as the trend continues England will soon be worth nothing.

You'd have to call the charity to have someone picking up your stuff as it's not even worth getting it for free.

A pity I do have an expensive family to maintain... if I could only save a few swiss francs a month...The ups and downs are all froth.

But long term I'd rather be in the UK's position than the Eurozone.

shaunbhoy
6th October 2010, 15:34
Ok, as the trend continues England will soon be worth nothing.

You'd have to call the charity to have someone picking up your stuff as it's not even worth getting it for free.

A pity I do have an expensive family to maintain... if I could only save a few swiss francs a month...

We may be in trouble, but not deep enough to consider putting an Italian in charge! We could probably have used your help whilst we were giving the Empire away though..........might have speeded the process up.


:ladybags:

AtW
6th October 2010, 15:41
But long term I'd rather be in the UK's position than the Eurozone.

You mean like bending over into opened train window in order to open the door from the outside when the train stops at the station, that kind of position? :eyes

suityou01
6th October 2010, 17:25
Couple of things (and I am being serious for a change)

1) Those that enslave us need us to keep on working. Currencies may come and go, but the financial system will never truly melt down, just possibly be replaced. Global currency being the next step (around 8-10 years is my prediction.

2) Unless you are working for Wall St or Goldmans you cannot know what is going to happen. The markets are all manipulated.

So in short, stop worrying, start living, make the best of what you have and think yourself lucky for what you have. Those that enslave us know that by keeping things cushy we will not make too much of a fuss. In fact this is born out by the fact that we are more prepared to winge about someone getting unfairly getting kicked off the X factor than lobby parliament by the tens of thousands about "unfair" changes in child benefit, for example.

Prolly get flamed for posting this, but if you think about it, we've never had it so good.

HairyArsedBloke
6th October 2010, 17:48
As always, I have to be careful what and how I say things.....

In fact, just look for stories in the financial news about 'competitive devaluations' or 'currency wars'.

Such as sminki (http://www.bloomberg.com/news/2010-10-06/geithner-sees-a-damaging-dynamic-in-policies-to-undervalue-currencies.html) and sminki (http://www.telegraph.co.uk/finance/financetopics/financialcrisis/8045133/IMF-chief-fears-risk-of-currency-war-after-Japans-zero-interest-rate-move.html)

suityou01
6th October 2010, 18:05
As always, I have to be careful what and how I say things.....

In fact, just look for stories in the financial news about 'competitive devaluations' or 'currency wars'.

Such as sminki (http://www.bloomberg.com/news/2010-10-06/geithner-sees-a-damaging-dynamic-in-policies-to-undervalue-currencies.html) and sminki (http://www.telegraph.co.uk/finance/financetopics/financialcrisis/8045133/IMF-chief-fears-risk-of-currency-war-after-Japans-zero-interest-rate-move.html)

Nicely put. :smile

scooterscot
6th October 2010, 18:45
As always, I have to be careful what and how I say things.....

In fact, just look for stories in the financial news about 'competitive devaluations' or 'currency wars'.

Such as sminki (http://www.bloomberg.com/news/2010-10-06/geithner-sees-a-damaging-dynamic-in-policies-to-undervalue-currencies.html) and sminki (http://www.telegraph.co.uk/finance/financetopics/financialcrisis/8045133/IMF-chief-fears-risk-of-currency-war-after-Japans-zero-interest-rate-move.html)


One of the reasons why my euro invoices are making me :happy

How do you start a currency war in the euro zone with many countries?

HairyArsedBloke
6th October 2010, 19:21
How do you start a currency war in the euro zone with many countries?

Ah, now you have found the fatal flaw in the euro concept - member states cannot devalue themselves into competitiveness.

d000hg
6th October 2010, 19:30
Ok, as the trend continues England will soon be worth nothing...£1 = $1.59 this is pretty much bang in the middle of what it's been the last year. And against the Euro it's back where it was when things went silly. So basically, we're back where we were a while ago. Oh no.

AtW
6th October 2010, 21:27
Ah, now you have found the fatal flaw in the euro concept - member states cannot devalue themselves into competitiveness.

It's not a flaw, it's intended result to make sure member states compete on the basis of what they do well (like exports in Germany) rather than using financial wizardry to get out of hole they dug for themselves.

Additioanlly for weak euro members countries it means that there is no sudden collapse in currency and population does not get ****ed with massively increased import prices, ie inflation - as someone who saw ruble dropped 400% in a space of a few months, that's when people get real proper ******.

Doggy Styles
6th October 2010, 21:54
Global currency being the next step (around 8-10 years is my prediction.:laugh


It's not a flaw, it's intended result to make sure member states compete on the basis of what they do well (like exports in Germany) rather than using financial wizardry to get out of hole they dug for themselves.

Additioanlly for weak euro members countries it means that there is no sudden collapse in currency and population does not get ****ed with massively increased import prices, ie inflation - as someone who saw ruble dropped 400% in a space of a few months, that's when people get real proper ******.Dear oh dear. Tell that to the Irish, the Greeks, the Spanish, and the Germans who are subsidising them. The first three wouldn't have half their current problems if they still had their own currencies floating with their respective economies and reining in their excesses.

Troll
6th October 2010, 22:03
:laugh

Dear oh dear. Tell that to the Irish, the Greeks, the Spanish, and the Germans who are subsidising them. The first three wouldn't have half their current problems if they still had their own currencies floating with their respective economies and reining in their excesses.
I thought the latest wheeze being mooted was to have Northern & Southern Euros....should get interesting

AtW
6th October 2010, 22:15
The first three wouldn't have half their current problems if they still had their own currencies floating with their respective economies and reining in their excesses.

They'd have lots of problems - certainly default of their debt because they wold not have been able to sell their Govt debt using their local currencies, they'd have to use dollars and their local currency would have collapsed, I've seen that in Russia in 1998 - you don't have any ****** clue what is it to see your local currency go down 400% in a space of a few weeks, Govt bonds in default and all foreign embassies making it much harder to emigrate :mad

suityou01
6th October 2010, 22:31
:laugh

Dear oh dear. Tell that to the Irish, the Greeks, the Spanish, and the Germans who are subsidising them. The first three wouldn't have half their current problems if they still had their own currencies floating with their respective economies and reining in their excesses.

Would you care to voice your opinions on why I got a :laugh for my comments on a global currency?
I am bookmarking this post for when it happens so I can GIRUY. :D

HTH

scooterscot
7th October 2010, 09:44
Have a look round everything shall soon be going for a pound.... Going down

scooterscot
7th October 2010, 09:46
:laugh

Dear oh dear. Tell that to the Irish, the Greeks, the Spanish, and the Germans who are subsidising them. The first three wouldn't have half their current problems if they still had their own currencies floating with their respective economies and reining in their excesses.

What has an individual country's economic competence got to do with currency war?

HairyArsedBloke
7th October 2010, 10:05
What has an individual country's economic competence got to do with currency war?

:rollin:

Not So Wise
7th October 2010, 13:00
Global currency being the next step (around 8-10 years is my prediction.

There will be no global currency in our life times (and doubtful in our childrens). It's just to damn handy for countrys to be able to print the stuff to solve in the short term domestic problems.




2) Unless you are working for Wall St or Goldmans you cannot know what is going to happen. The markets are all manipulated.

You give them too much credit, sure they might be manipulating things in the short term to raise/lower prices. But they rarely if ever look much beyond the current quarter/deal, there is no big plan (kind of wish there was)

Doggy Styles
7th October 2010, 13:44
Would you care to voice your opinions on why I got a :laugh for my comments on a global currency?
I am bookmarking this post for when it happens so I can GIRUY. :D

HTHI'm sorry. I didn't realise you were serious. So I'll give a serious answer, off the top of my head so I concede it isn't a polished economic guru-type response.

Firstly the Euro took 30 years to create, starting with the drip-drip-drip of the political case in the late sixties early seventies. As far as I know, no-one is seriously proposing a global currency yet, and so 8 years is wildly optimistic.

Secondly, whether you like the Euro or not, the Euro has hardly been an unqualified success. At the moment it is not a good advert for common currencies, which is stymying the political case.

Thirdly, the Euro suffers because the disparate economies in the Eurozone pull interest rates and exchange rates in different directions, to the detriment of all. But if you think they are disparate, imagine trying to compromise between the Euro, the sweatshop Yuan and Rupee countries, US Dollar, the Zim Dollar, Pound Stirling, the Argentine Peso, Yen, the Russian Rouble, Swedish Krone, the Brazilian whatever, etc etc. They and the economies behind them are desperately disparate.

Fourthly, the Euro is administered and managed by the EU and effectively supported by Germany. Who would do that job for a global currency?

Fifthly, why? If a country has a crap government that results in a crap economy, whose job is it to sort it out? If you support that crap economy, by extension you end up supporting that crap government, and there is no motivation for improvement. It is a dumbing down of the whole, prizes-for-all mentality.

suityou01
7th October 2010, 14:14
<cracks knuckles> Right, let's get started shall we? :D


As far as I know, no-one is seriously proposing a global currency yet, and so 8 years is wildly optimistic.


OK. The IMF has a basket of currencies called the special drawing right (SDR). A whole bunch of these were injected into the global economy. Read here (http://www.telegraph.co.uk/finance/comment/ambroseevans_pritchard/5096524/The-G20-moves-the-world-a-step-closer-to-a-global-currency.html)



Secondly, whether you like the Euro or not, the Euro has hardly been an unqualified success. At the moment it is not a good advert for common currencies, which is stymying the political case.


Indeed. The next euro type currency is likely to be called the Amero, and will be the basic currency of the north american union. Read here (http://en.wikipedia.org/wiki/North_American_currency_union)



Thirdly, the Euro suffers because the disparate economies in the Eurozone pull interest rates and exchange rates in different directions, to the detriment of all. But if you think they are disparate, imagine trying to compromise between the Euro, the sweatshop Yuan and Rupee countries, US Dollar, the Zim Dollar, Pound Stirling, the Argentine Peso, Yen, the Russian Rouble, Swedish Krone, the Brazilian whatever, etc etc. They and the economies behind them are desperately disparate.


Agreed. That is why everyone is piling into gold. If there is a currency collapse the IMF would come racing to the scene with a ton of SDRs and the lots of bailout funds. Then beggars cannot be choosers.




Fourthly, the Euro is administered and managed by the EU and effectively supported by Germany. Who would do that job for a global currency?


Good question. The global bank of course. The IMF.



Fifthly, why? If a country has a crap government that results in a crap economy, whose job is it to sort it out? If you support that crap economy, by extension you end up supporting that crap government, and there is no motivation for improvement. It is a dumbing down of the whole, prizes-for-all mentality.

There's money to be made in collapsing a country. Goldmans made a fortune out of Greece. There is plenty of motivation for them.


Right, that about covers it. Flame away :moon:

Doggy Styles
7th October 2010, 15:02
No, I've answered why I don't believe it. You believe what you like, it's a pointless argument. It simply won't happen.

suityou01
7th October 2010, 15:05
No, I've answered why I don't believe it. You believe what you like, it's a pointless argument. It simply won't happen.

No need to sulk.
We need a "bottom lip out" smiley :rolleyes:

Edit : http://www.istockphoto.com/file_thumbview_approve/4392370/2/istockphoto_4392370-grumpy.jpg

Doggy Styles
7th October 2010, 15:53
:D

doodab
7th October 2010, 15:53
No, I've answered why I don't believe it. You believe what you like, it's a pointless argument. It simply won't happen.

It's an inevitable step on the way to the abolishment of money.

suityou01
7th October 2010, 16:04
:D

:hug:

HairyArsedBloke
7th October 2010, 16:09
:rollin:

Not So Wise
7th October 2010, 16:10
SDR's have steadily fallen out of use since the 80's and unless the US stops running a deficit they will remain so, so that's one dead end

The amero, the idea of a currency union between the US, Canada and Mexico so beloved by right wing conspiracy theory nuts, which always ignores one basic fact, who would demand on being top dog in that partnership?

For that reason above any other the other two would never go for it as they would basically be handing control of their economy’s to the US

America would basically have to fall to a level of a 3rd world country before they would even consider entering a "partnership of equals" with those other countries (especially Mexico) and until they agreed to such the others would never agree to it

After the fiasco over the last year or two with the euro zone countries doubt will even see academics talking about a global currency in theory for a decade or so, never mind anyone in power even thinking about trying to create it

suityou01
7th October 2010, 16:16
SDR's have steadily fallen out of use since the 80's and unless the US stops running a deficit they will remain so, so that's one dead end

The amero, the idea of a currency union between the US, Canada and Mexico so beloved by right wing conspiracy theory nuts, which always ignores one basic fact, who would demand on being top dog in that partnership?

For that reason above any other the other two would never go for it as they would basically be handing control of their economy’s to the US

America would basically have to fall to a level of a 3rd world country before they would even consider entering a "partnership of equals" with those other countries (especially Mexico) and until they agreed to such the others would never agree to it

After the fiasco over the last year or two with the euro zone countries doubt will even see academics talking about a global currency in theory for a decade or so, never mind anyone in power even thinking about trying to create it

Uh huh. Read the papers lately? 42 million on food stamps, soaring unemployment and their currency collapsing around their ears. Their debt to GDP ratio is growing by around 1.6Trillion dollars annually and all they can do is raise the threshold of them defaulting.

AtW
7th October 2010, 17:37
42 million on food stamps

That's much better than paying pensioner like £70 per week and leaving them on their own.

suityou01
7th October 2010, 19:28
That's much better than paying pensioner like £70 per week and leaving them on their own.

meh, we can afford it :rolleyes:

HairyArsedBloke
7th October 2010, 19:39
Food stamps are evil. The are inefficient, encourages crime, and create a dependency culture.

It also leads to idiotic things like: NY May Ban Buying Sugary Drinks with Food Stamps (http://www.cbsnews.com/stories/2010/10/07/health/main6935699.shtml?tag=mncol;lst;1)

AtW
7th October 2010, 19:48
Food stamps are evil.

They ought to cost less overall than paying cash to buy food.

SueEllen
7th October 2010, 20:39
They ought to cost less overall than paying cash to buy food.


They cost more because you have to create a system to produce them and pay the retailers for them.

The banks already had a system in place for pensions and other benefits to be paid electronically.

suityou01
7th October 2010, 20:45
SDR's have steadily fallen out of use since the 80's and unless the US stops running a deficit they will remain so, so that's one dead end



Sorry but that's not true. They were used heavily in the bailout. I think I may have posted this earlier in this thread. :rolleyes:

HairyArsedBloke
7th October 2010, 20:56
They cost more because you have to create a system to produce them and pay the retailers for them.

The banks already had a system in place for pensions and other benefits to be paid electronically.

The system in the US is already in the form of a electronic card.