Pound Hit's 23 year low vs Dollar
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21 January 2009, 06:59 PM
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Some financial analyst's are saying that there is a real threat of it breaking through 1.3 and towards a 1 for 1 rate !!
I'm not usually a doom and gloom merchant but i feel we maybe heading for a major **** storm !!!
I'm not usually a doom and gloom merchant but i feel we maybe heading for a major **** storm !!!
21 January 2009, 07:02 PM
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Well it's lucky Brown was putting some money aside for a rainy day when times were good..... oh hang a minute, he wasn't he was borrowing and spending, and selling off all the UK's assets 
Thanks Liebour - bankruptsy for the UK can't be far off now, and living standards will nosedive
Thanks Liebour - bankruptsy for the UK can't be far off now, and living standards will nosedive
21 January 2009, 07:09 PM
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Well it's lucky Brown was putting some money aside for a rainy day when times were good..... oh hang a minute, he wasn't he was borrowing and spending, and selling off all the UK's assets
Thanks Liebour - bankruptsy for the UK can't be far off now, and living standards will nosedive
Thanks Liebour - bankruptsy for the UK can't be far off now, and living standards will nosedive
That pompus ***** has really shafted us the labour goverment inherited some of the largest reserve's of gold bullion and U.S dollar reserve's in the western world.Exactly the thing needed to ease the current crisis.
Brown whilst chancelor proceded to sell the lot at rock bottom prices !!!
21 January 2009, 07:40 PM
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21 January 2009, 07:47 PM
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As usual, by the time things hit the news, rates have moved on. A minor recovery is underway. I did buys the safest equities, bonds and commodities I could think of today, but will buy more if there is a temporary recovery in GBP. I think the $ and € will also be toast, $ just strong as an Obama bounce? They like his rescue, not Gordon's? Gordon is the sort of rescuer you don't want, everything he touches turns from gold to turd 
21 January 2009, 08:11 PM
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21 January 2009, 09:40 PM
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Mervyn King paves way to start Bank print presses - Times Online
Some of the comments at the bottom of this article are interesting. Printing money is a pretty desperate measure, and looks likely to be a complete disaster for everyone.
RIP UK
Some of the comments at the bottom of this article are interesting. Printing money is a pretty desperate measure, and looks likely to be a complete disaster for everyone.
How can a respected economist even contemplate printing money - it has been tried many times and never worked, why should it work now; it will make things worse. A mistake like this will haunt us for decades
21 January 2009, 09:42 PM
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It was a bloody nightmare at work today, had to place the same order 3 times as the exchange rate slid so quickly the supplier asked us to ammend our paper work. Worse to come as well.....
21 January 2009, 10:08 PM
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I was looking at the weekend about opening a Swiss account, but it just didnt seem worth it. You'd lose on the currency exchange putting money in or taking money out - would be a git to manage the account, and could be issues with making a claim if the bank you invested in went bust.
Losing all my savings if the UK does go totally t1ts up (a scenario which doesn't sound that unlikely now!) actually doesn't really bother me for some reason...
21 January 2009, 10:29 PM
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Many serious investors probably got out of Sterling, and into Yen, Swiss franc or Kronna a while back to be fair! We only ever hear about £/$ or euro/£ but the US and Eurozone are screwed as well - just not as much as us! Look how the exchange rates to countries which actually look like they have a future have gone!... (ie pound has TOTALLY tanked against those!)
I was looking at the weekend about opening a Swiss account, but it just didnt seem worth it. You'd lose on the currency exchange putting money in or taking money out - would be a git to manage the account, and could be issues with making a claim if the bank you invested in went bust.
Losing all my savings if the UK does go totally t1ts up (a scenario which doesn't sound that unlikely now!) actually doesn't really bother me for some reason...
I was looking at the weekend about opening a Swiss account, but it just didnt seem worth it. You'd lose on the currency exchange putting money in or taking money out - would be a git to manage the account, and could be issues with making a claim if the bank you invested in went bust.
Losing all my savings if the UK does go totally t1ts up (a scenario which doesn't sound that unlikely now!) actually doesn't really bother me for some reason...
in all seriousness a ruin somwhere as deep south as possible , a reasonable size place in Zim ( in the gfriends name ) and we might as well sail away with the remainder for a few years
22 January 2009, 12:30 PM
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Many serious investors probably got out of Sterling, and into Yen, Swiss franc or Kronna a while back to be fair! We only ever hear about £/$ or euro/£ but the US and Eurozone are screwed as well - just not as much as us! Look how the exchange rates to countries which actually look like they have a future have gone!... (ie pound has TOTALLY tanked against those!)
I was looking at the weekend about opening a Swiss account, but it just didnt seem worth it. You'd lose on the currency exchange putting money in or taking money out - would be a git to manage the account, and could be issues with making a claim if the bank you invested in went bust.
Losing all my savings if the UK does go totally t1ts up (a scenario which doesn't sound that unlikely now!) actually doesn't really bother me for some reason...
I was looking at the weekend about opening a Swiss account, but it just didnt seem worth it. You'd lose on the currency exchange putting money in or taking money out - would be a git to manage the account, and could be issues with making a claim if the bank you invested in went bust.
Losing all my savings if the UK does go totally t1ts up (a scenario which doesn't sound that unlikely now!) actually doesn't really bother me for some reason...
1) Can you just turn up in Switzerland with your passport and open an account?
2) If so, then why not get one of these other companies that sell foreign exchange at better rates than banks to do the conversion and transfer it into the acct? The commission won't be the 30% or so the £ has tanked and may tank again
3) How much is the protection offered by Swiss banks to foreign nationals?
£50 flight gets you over there and you can buy gold over the counter (I believe their margin over spot is less than UK?). 100 euros/year buys you a safety deposit box with UBS. I think its becomee almost essential to have some physical gold, don't you?
22 January 2009, 12:47 PM
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Should I sell my US $ travellers cheques yet or wait for further drops 
Bought a few £100 worth for a trip around this time last year, never used them and haven't got around to cashing them in 
Bought a few £100 worth for a trip around this time last year, never used them and haven't got around to cashing them in
22 January 2009, 12:55 PM
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As usual, by the time things hit the news, rates have moved on. A minor recovery is underway. I did buys the safest equities, bonds and commodities I could think of today, but will buy more if there is a temporary recovery in GBP. I think the $ and € will also be toast, $ just strong as an Obama bounce? They like his rescue, not Gordon's? Gordon is the sort of rescuer you don't want, everything he touches turns from gold to turd
BBC NEWS | Business | Market Data | Currencies | Sterling v US Dollar
22 January 2009, 01:21 PM
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It was 1.33 this morning at the Travel Agents
I came back from NY on Tuesday and we got 1.44 exchange rate from the Post Office before we went, plus I had 450 dollars that my Mum got me at 1.90
The interesting thing was, was at the airport on the way home (JFK) Bushes last day they were offering 1.69 exchange rate at Travelex change burueau
I came back from NY on Tuesday and we got 1.44 exchange rate from the Post Office before we went, plus I had 450 dollars that my Mum got me at 1.90
The interesting thing was, was at the airport on the way home (JFK) Bushes last day they were offering 1.69 exchange rate at Travelex change burueau
22 January 2009, 01:36 PM
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I personally think/hope it'll sit at in and around £0.65 to the $1 for the foreseeable future. It's currently at £0.72 but that's probably a brief overshoot. It's been averaging around the £0.65 area for several months now.
