tag:blogger.com,1999:blog-32841798.post8392735978924998576..comments2024-03-28T22:45:51.014+00:00Comments on Capitalists@Work: Return of the Pound; Get your summer holiday money now!CityUnslickerhttp://www.blogger.com/profile/15929544047783163175noreply@blogger.comBlogger10125tag:blogger.com,1999:blog-32841798.post-60365399763289667182009-06-03T13:18:36.767+01:002009-06-03T13:18:36.767+01:00The Euro is a joke currency right now, there is no...The Euro is a joke currency right now, there is nothing remotely sustainable about a huge disjointed economy looking at losses in all sectors , manufacturing, tourism, finance.Late and insufficient action by ECB will ensure that Euroland will continue to suffer long after the USA and the UK have made tentative steps to recovery.<br />£1=€1.40 by xmas , a rational price instead of a bloated jabba the hut of a currency.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-32841798.post-1519487105654264702009-06-02T19:02:40.450+01:002009-06-02T19:02:40.450+01:00Personally, I think the situation has gone chaotic...Personally, I think the situation has gone chaotic, and things will be difficult to follow or to explain. Not only do those in authority not know what they are doing, there is little hope of them doing so. The whole thing is a gamble, and less reliable than a bent routlette wheel.Demetriushttps://www.blogger.com/profile/17198549581667363991noreply@blogger.comtag:blogger.com,1999:blog-32841798.post-49443148514543783422009-06-02T17:57:24.481+01:002009-06-02T17:57:24.481+01:00Anon, those are good links and I generally agree w...Anon, those are good links and I generally agree with the comment. Inflation and devaluation are the way governments get out of this mess.CityUnslickerhttps://www.blogger.com/profile/15929544047783163175noreply@blogger.comtag:blogger.com,1999:blog-32841798.post-53533894155275554852009-06-02T15:17:47.794+01:002009-06-02T15:17:47.794+01:00The final few paragraphs of this link explain the ...<A HREF="http://www.marketoracle.co.uk/Article10990.html" REL="nofollow">The final few paragraphs</A> of this link explain the economic bounce, and maybe one of the reasons for a resurgent pound.<br /><br />But understand the amounts injected to achieve an insignificant GDP increase.<br /><br />I believe the interest rates rises, and the consequent debt repayments (up to £90B, pa)will floor the economy and crash the £<br /><br />And crashing the £ is the only way out for these disgusting one-eyed b*stards.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-32841798.post-26157744484062732402009-06-02T14:42:15.885+01:002009-06-02T14:42:15.885+01:00The dollar was in decline for years and bottomed a...<A HREF="http://quotes.ino.com/chart/?s=NYBOT_DX&v=dmax" REL="nofollow">The dollar was in decline for years</A> and bottomed at .72 on the index.<br /><br />Then came the engineered crash, everything reversed and everything was sold and dollars bought.<br /><br />The dollar gained, as the global reserve currency, in a flight to safety.<br /><br />Then came bailouts, QE, and much more.<br /><br />Even if it were to preserve its status as a global reserve currency, given the games played, it is overvalued above .68 on the index.<br /><br />China and other nations are making extensive moves to eliminate the use of the dollar in bi-lateral trade agreements, and SEA "stability" funds, denominated in Yuan are established. Yuan currency swaps are proceeding apace.<br /><br />SDRs are ballooning if you look at the IMF.<br /><br />US and $ hegemony is in decline.<br /><br />The £ will follow shortly. The EU is about to hijack the City.<br /><br />Go East Young Man.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-32841798.post-65889704108360386662009-06-02T13:49:26.719+01:002009-06-02T13:49:26.719+01:00GS - no way the £ is going to more that 1.70 again...GS - no way the £ is going to more that 1.70 against the dollar. if it does, there will be new, more horrible reasons for it.CityUnslickerhttps://www.blogger.com/profile/15929544047783163175noreply@blogger.comtag:blogger.com,1999:blog-32841798.post-47219909636062347162009-06-02T13:39:17.132+01:002009-06-02T13:39:17.132+01:00I'm going on holiday in July and everything is USD...I'm going on holiday in July and everything is USD denominated so I might take your advice, but wont blame you if it goes wrong :-)Simon Fawthrophttps://www.blogger.com/profile/07519464855839416009noreply@blogger.comtag:blogger.com,1999:blog-32841798.post-3943878448034692032009-06-02T13:36:32.358+01:002009-06-02T13:36:32.358+01:00I used to work for a big hitter in the City. He to...I used to work for a big hitter in the City. He told me back in Jan, that he thought fair value for GBP:USD was 1.65. Didn't give me a timeline though. I'll be interested to see if it stays around here (minor fluctuations excepted).<br /><br />However, I agree with CU. Now is a good time to get your holiday money. Except if you are going to Australia, which hasn't enjoyed the recent of EUR and USD.Richard Elliothttps://www.blogger.com/profile/00565380446421416586noreply@blogger.comtag:blogger.com,1999:blog-32841798.post-82070736828052189242009-06-02T13:36:07.542+01:002009-06-02T13:36:07.542+01:00I'm a bear of sterling above Euro parity, rightly ...I'm a bear of sterling above Euro parity, rightly or wrongly this seems to me to be a dead cat bounce.Tuscan Tonyhttps://www.blogger.com/profile/11196343713837375340noreply@blogger.comtag:blogger.com,1999:blog-32841798.post-32581217342592197102009-06-02T13:17:33.187+01:002009-06-02T13:17:33.187+01:00Euro bubbling at 1.08ish on the tourist currency m...Euro bubbling at 1.08ish on the tourist currency market for a few weeks now. Not good enough yet to take a punt.<br />1.15 on the tourist needs about 1.25 on the big board.<br /><br />$1.54 tourist today. Better, but not good enough for Disneyland.Bill Quango MPhttps://www.blogger.com/profile/14861116614665461655noreply@blogger.com