Panda Posted February 23, 2010 Share Posted February 23, 2010 http://www.guardian.co.uk/business/2010/feb/23/mervyn-king-quantitative-easing-eurozone What do yeh reckon, get a run on the pound now, while ugly b0ll0cks is in charge, clear the way for the incoming administration? Surely sooner or later the pound will really tank, thats what Merv wants, the markets to show its head, why else all this talk of more printy? Quote Link to comment Share on other sites More sharing options...
Injin Posted February 23, 2010 Share Posted February 23, 2010 http://www.guardian.co.uk/business/2010/feb/23/mervyn-king-quantitative-easing-eurozone What do yeh reckon, get a run on the pound now, while ugly b0ll0cks is in charge, clear the way for the incoming administration? Surely sooner or later the pound will really tank, thats what Merv wants, the markets to show its head, why else all this talk of more printy? They never had any intention of stopping printing. Every time they jawbone, people hold fast to sterling or even buy some and then they can get fleeced. At some point the trick will stop working but not quite yet, there are still plenty of cretins out there who can't spot a thief. Quote Link to comment Share on other sites More sharing options...
@contradevian Posted February 23, 2010 Share Posted February 23, 2010 They never had any intention of stopping printing. Every time they jawbone, people hold fast to sterling or even buy some and then they can get fleeced. At some point the trick will stop working but not quite yet, there are still plenty of cretins out there who can't spot a thief. I'd agree except that it isn't just UK that is the "sick man of europe" any more and everyone else is doing the same in a race to the bottom. Also "they" I suspect want the pound to tank. You need to think in multiple dimensions with regard to FX. Quote Link to comment Share on other sites More sharing options...
The Masked Tulip Posted February 23, 2010 Share Posted February 23, 2010 How do you know he has ugly ********? Quote Link to comment Share on other sites More sharing options...
Injin Posted February 23, 2010 Share Posted February 23, 2010 I'd agree except that it isn't just UK that is the "sick man of europe" any more and everyone else is doing the same in a race to the bottom. Also "they" I suspect want the pound to tank. You need to think in multiple dimensions with regard to FX. I don't. you are making something incredibly simple into something complicated. Merv and co are thieves, they do not give two curly shits about the economy, our place in europe or any of that malarky - they just want stuff for themselves, and they keep taking. Pound tanks? "Oh those poor slaves who run around all day providing me with food, warmth and shelter! Meh, ****** 'em." Quote Link to comment Share on other sites More sharing options...
PopGun Posted February 23, 2010 Share Posted February 23, 2010 Imagine the initial horror, tragedy and then perverse comedy if Broon actually won the next election?! Quote Link to comment Share on other sites More sharing options...
libspero Posted February 23, 2010 Share Posted February 23, 2010 (edited) I think the interesting part (HPC wise) is this section tucked in at the end.. The governor also repeated his insistence that the government's three-year special liquidity scheme, which allowed banks to exchange hard-to-sell assets such as mortgage-backed bonds for more liquid gilts, will not be extended, and urged banks to find other sources of funding before the scheme starts to expire early next year."There is nothing coming out of this financial crisis that would justify the taxpayer funding the existing structure of the financial sector," he said, adding that some financial institutions might have to shrink their balance sheets if they cannot fill the gap left by the removal of government aid. Edited February 23, 2010 by libspero Quote Link to comment Share on other sites More sharing options...
Injin Posted February 23, 2010 Share Posted February 23, 2010 Imagine the initial horror, tragedy and then perverse comedy if Broon actually won the next election?! The first one, probably a good chance. The emergency one shortly afterwards, I doubt it. Quote Link to comment Share on other sites More sharing options...
interestrateripoff Posted February 23, 2010 Share Posted February 23, 2010 Imagine the initial horror, tragedy and then perverse comedy if Broon actually won the next election?! The Tories seem intent on throwing the election. They certainly don't want to be in charge when the SHTF. Quote Link to comment Share on other sites More sharing options...
xux42 Posted February 23, 2010 Share Posted February 23, 2010 They never had any intention of stopping printing. Every time they jawbone, people hold fast to sterling or even buy some and then they can get fleeced. At some point the trick will stop working but not quite yet, there are still plenty of cretins out there who can't spot a thief. I agree mostly - but not that Sterling will be destroyed. Suspect it will be hammered but will survive. Hence at some point it will be oversold and it will be right to sell dollars, gold, silver, shares, oil options etc. and BUY sterling before a massive Sterling rebound from an unbelievably low level. Just not yet. Quote Link to comment Share on other sites More sharing options...
A.steve Posted February 23, 2010 Share Posted February 23, 2010 I don't. you are making something incredibly simple into something complicated. I can assure you, the politics of foreign exchange are extremely complicated. For most of my life I blithely assumed the objectives of politicians with respect to currency - and I was almost 180 degrees wrong. Today, I better understand the issues - and I'm sure - they're complex. What interested me most was how King's words have been spun. Like this, for example : "King says ratings agencies not about to re-rate UK" - but, inside the article: Asked by parliament's Treasury Committee whether rating agencies should be concerned, King said: "I don't believe the rating agencies are concerned, in the sense that they are not re-rating the UK and I would be very surprised if they were to do so." To me, "very surprised" almost seems like code. He's not ruled out a downgrade - far from it - he's just refused to say that he expects one. Quite a different statement. Quote Link to comment Share on other sites More sharing options...
Injin Posted February 23, 2010 Share Posted February 23, 2010 I can assure you, the politics of foreign exchange are extremely complicated. For most of my life I blithely assumed the objectives of politicians with respect to currency - and I was almost 180 degrees wrong. Today, I better understand the issues - and I'm sure - they're complex. What interested me most was how King's words have been spun. Like this, for example : "King says ratings agencies not about to re-rate UK" - but, inside the article: To me, "very surprised" almost seems like code. He's not ruled out a downgrade - far from it - he's just refused to say that he expects one. Quite a different statement. He's just a thief. That's all. Print, steal, domineer, waste. That's the way it goes. Quote Link to comment Share on other sites More sharing options...
Lepista Posted February 23, 2010 Share Posted February 23, 2010 I agree mostly - but not that Sterling will be destroyed. Suspect it will be hammered but will survive. Hence at some point it will be oversold and it will be right to sell dollars, gold, silver, shares, oil options etc. and BUY sterling before a massive Sterling rebound from an unbelievably low level. Just not yet. In a rubbery dead cat sort of way, or a genuine sterling is going to the moon type of way...? My thought is it will end with a dull thud on the floor, dead and lifeless, never to move unless some fetid maggotty squirming goes on. Quote Link to comment Share on other sites More sharing options...
indirectapproach Posted February 23, 2010 Share Posted February 23, 2010 I've been looking for the historic sterling - dollar graph online but can't find it. Anyone got the link? My recollection is that since 1971 when sterling floated on the market it has traded within the range of parity to 50 pence for a dollar. For the majority of that time sterling was around the 65p - 70p the dollar range. As such the dollar price just now is, to my mind, quite good and I'm buying them. I think that sterling is going to hold and gain value against the euro but lose it against the dollar. That's my bet. Quote Link to comment Share on other sites More sharing options...
moneyscam Posted February 23, 2010 Share Posted February 23, 2010 The first one, probably a good chance. The emergency one shortly afterwards, I doubt it. +1 Looking more and more likely Quote Link to comment Share on other sites More sharing options...
Grimbert Posted February 23, 2010 Share Posted February 23, 2010 I've been looking for the historic sterling - dollar graph online but can't find it. Anyone got the link? My recollection is that since 1971 when sterling floated on the market it has traded within the range of parity to 50 pence for a dollar. For the majority of that time sterling was around the 65p - 70p the dollar range. As such the dollar price just now is, to my mind, quite good and I'm buying them. I think that sterling is going to hold and gain value against the euro but lose it against the dollar. That's my bet. Do you mean this one? Quote Link to comment Share on other sites More sharing options...
200p Posted February 23, 2010 Share Posted February 23, 2010 Quote Link to comment Share on other sites More sharing options...
yellerkat Posted February 23, 2010 Share Posted February 23, 2010 I've been looking for the historic sterling - dollar graph online but can't find it. Anyone got the link? I found this from HERE: Quote Link to comment Share on other sites More sharing options...
lowrentyieldmakessense(honest!) Posted February 23, 2010 Share Posted February 23, 2010 I think the interesting part (HPC wise) is this section tucked in at the end.. it wont be withdrawn Quote Link to comment Share on other sites More sharing options...
Guest Noodle Posted February 23, 2010 Share Posted February 23, 2010 Spinners, Can you do me one of those for GBP:THB going back as far as you can? Thanks Quote Link to comment Share on other sites More sharing options...
indirectapproach Posted February 23, 2010 Share Posted February 23, 2010 Oh, thanks very much for the graphs. So, since 1981 or whatever we've traded at between 50p and parity, on my reading. Not since 1971. But still plenty, it seems to me. Quote Link to comment Share on other sites More sharing options...
Panda Posted February 23, 2010 Author Share Posted February 23, 2010 They, the incoming administration are determined this blows up prior to an election, without doubt, until it goes bang under darkside brownside, then they will keep spilling out this type of speak, until the market says no more! They want it to pop, why else, Bloon is finished, the pound will only tank, they need an excuse to raise the rates. Quote Link to comment Share on other sites More sharing options...
STRLondon Posted February 23, 2010 Share Posted February 23, 2010 we should all take wheelbarrows to work in protest Quote Link to comment Share on other sites More sharing options...
indirectapproach Posted February 23, 2010 Share Posted February 23, 2010 (edited) Heseltine calling a hung parliament adds credence to this suggestion (Tories want pound to tank). Didn't he stick his head out fo the long grass, bark out, "Hung Parliament," and then disappear again? Edited February 23, 2010 by indirectapproach Quote Link to comment Share on other sites More sharing options...
yellerkat Posted February 23, 2010 Share Posted February 23, 2010 Spinners, Can you do me one of those for GBP:THB going back as far as you can? Thanks I found rates going back to 1981: Quote Link to comment Share on other sites More sharing options...
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