Monday, Nov 19, 2007
Here we go again?
BBC: The Pound In Your Pocket - 18 November
"It does not mean that the pound here in Britain, in your pocket, in your purse or bank has been devalued."
Posted by cornishman @ 08:44 AM (636 views) Add Comment
8 Comments
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1. cornishman said...
Anyone see the archive programmes on BBC Parliament last night? Interesting stuff.
Devaluation might work in US where they still make things - Boeing etc. Can't see it helping in UK. So why is BOE talking currency down by saying interest rates will come down soon?
2. d'oh said...
Well, that's good to know. I'm glad that my pound won't be devalued, except if I want to buy some imported luxury, like errr, food for instance.
3. The Capitalist said...
Devaluation never works, it's a cheat on the people by central govt.
The pound is set to fall heavily and soon. Interest rate cuts start next year. We follow the USA system of defrauding taxpayers. The fed is a private bank, The old lady is now on the game.Buy gold bullion - it qualifies for one's SIPP.
4. tyrellcorporation said...
The only thing we have left of any significance in manufacturing is the defence and aerospace industries and the odd foreign owned car plant. Maybe these sectors are our salvation!
5. d'oh said...
tc said: "The only thing we have left of any significance in manufacturing is the defence and aerospace industries..."
Excellent, so although I may not be able to afford baked beans for my bunker, I will still be able to "buy me a gun"...or a plane to get the **** out of here..
6. tyrellcorporation said...
'I will still be able to "buy me a gun"...or a plane to get the **** out of here..'
...you have to admit it's a poetic choice and a great legacy from Teflon Tony.
7. Icarus said...
d'oh - we're supposed to be good at pharmaceuticals too, so you could just take painkillers.
8. iguana said...
Very interesting, especially the archive version on parliament. BIG BUT, the whole sub-plot involving the Americans and Wilsons refusal to send even a token British presence to Vietam was missed out. Had he done so and embroiled us in that fiasco then the Americans would have 'swung' international support and the world bank, they may even have suspended interest and payments on the then huge loans given to Britain to enable the 2nd world war to be fought.