interestrateripoff Posted January 23, 2009 Share Posted January 23, 2009 Bank Bailout 2 was due to be finalised by April. Will the GDP figures stop this from happening? Is the only way now for this inept govt to fund this bailout is by printing worthless money. I Bank Bailout 2 dead in the water now that we have proof the UK economy has fell off a cliff. Quote Link to comment Share on other sites More sharing options...
Nicholas Cage Posted January 23, 2009 Share Posted January 23, 2009 (edited) The government no longer make statements, trusted sources sidle up to the media and advise of possibilites, offices confirm interests off the record. I'm not even sure what is going to happen, this uncertainty where Gordon announces a plan to help introduce plans, followed by a complete lack of detail or targets is what caused the most very recent collapse in share prices. Is RBS nationalised, will tax be changed, is sterling an issue. Who knows? There isn't even a clear aim for quantative easing,. Edited January 23, 2009 by Mr. Parry Quote Link to comment Share on other sites More sharing options...
Pindar Posted January 23, 2009 Share Posted January 23, 2009 Nothing to worry about, sterling is the third most popular reserve currency - the IMF says so: According to the IMF, sterling is still the third most popular global currency reserve...The point being, a sterling crash would be equivalent to Lehman times 10 as far as contagion for global markets go. It cannot just crash and disappear like Lehman - that would be in no-one’s interest...the UK government enjoys one significant benefit to say currency crisis countries like Russia and Argentina - the vast majority of its debt is denominated in GBP...The UK is among the leading exporters of manufactured goods in the world. Germany and China, of course, are way out in front. Then comes the USA, followed by Japan. But in fifth, sixth and seventh places, in a tight group, are the UK, France and Italy... Gordon is right, we are "well placed" to weather the storm. Quote Link to comment Share on other sites More sharing options...
blankster Posted January 23, 2009 Share Posted January 23, 2009 Ah, but so much of the manufactured goods we export - cars in particular, are just made here by foreign-owned companies. Quote Link to comment Share on other sites More sharing options...
interestrateripoff Posted January 23, 2009 Author Share Posted January 23, 2009 Nothing to worry about, sterling is the third most popular reserve currency - the IMF says so:According to the IMF, sterling is still the third most popular global currency reserve...The point being, a sterling crash would be equivalent to Lehman times 10 as far as contagion for global markets go. It cannot just crash and disappear like Lehman - that would be in no-one’s interest...the UK government enjoys one significant benefit to say currency crisis countries like Russia and Argentina - the vast majority of its debt is denominated in GBP...The UK is among the leading exporters of manufactured goods in the world. Germany and China, of course, are way out in front. Then comes the USA, followed by Japan. But in fifth, sixth and seventh places, in a tight group, are the UK, France and Italy... Gordon is right, we are "well placed" to weather the storm. Ponzi had better get printing then, everyone will want some more Sterling it's as safe as houses. Quote Link to comment Share on other sites More sharing options...
Pindar Posted January 23, 2009 Share Posted January 23, 2009 I wonder if the official at the IMF who made that statement has a large sterling investment? Quote Link to comment Share on other sites More sharing options...
Guest sillybear2 Posted January 23, 2009 Share Posted January 23, 2009 Is the only way now for this inept govt to fund this bailout is by printing worthless money. Of course, Brown's final act will be to destroy the currency, it has already begun. Quote Link to comment Share on other sites More sharing options...
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