Sterling Soars On Q E Cancellation By Merv

[Realistbear]

http://www.bloomberg.com/news/2010-11-11/pound-gains-versus-euro-for-6th-day-on-tailwinds-from-inflation-report.html

Pound Gains Versus Euro for 6th Day on `Tailwinds' From Inflation Report

By Lucy "Loose" Meakin - Nov 11, 2010 11:35 AM GMT Tweet LinkedIn Share

The pound appreciated to a six-week high against the euro, climbing for a sixth day amid growing speculation that the Bank of England won’t extend its asset- purchase program, known as quantitative easing.

I think Merv has the world mesmerised with his skill and business acumen, so much so that the world is seeing the UK as the safe haven for prudent investment. Dave is taking on pop status in China as he politely asks them to allow more of our goods to be sold and to move toward greater democracy sometime in the future if conditrons prove to be right at that time..

[Panda]

This is a buy signal for the pound me tinks...............

Things ain't as bad as they have been made out to be, we are a nation of workaholics, we pay our taxes, we are a small island with a great heritage. We will come through this, looking back and thinking, what was all the fuss about. Merv was right all along..........................

[General Congreve]

OK, I'm going to get a torrent of abuse as usual, but this story is all smoke and mirrors. Pound strength doesn't look any stronger than any other currency if you look here:

http://www.usagold.com/gold-price-forex.html

[Fishman]

http://www.bloomberg.com/news/2010-11-11/pound-gains-versus-euro-for-6th-day-on-tailwinds-from-inflation-report.html

Pound Gains Versus Euro for 6th Day on `Tailwinds' From Inflation Report

By Lucy "Loose" Meakin - Nov 11, 2010 11:35 AM GMT Tweet LinkedIn Share

The pound appreciated to a six-week high against the euro, climbing for a sixth day amid growing speculation that the Bank of England won’t extend its asset- purchase program, known as quantitative easing.

I think Merv has the world mesmerised with his skill and business acumen, so much so that the world is seeing the UK as the safe haven for prudent investment. Dave is taking on pop status in China as he politely asks them to allow more of our goods to be sold and to move toward greater democracy sometime in the future if conditrons prove to be right at that time..

A strong pound is undoing all of Dave's good work in the Middle Kingdom.

[Take Me Back To London!]

OK, I'm going to get a torrent of abuse as usual, but this story is all smoke and mirrors. Pound strength doesn't look any stronger than any other currency if you look here:

http://www.usagold.com/gold-price-forex.html

£300 to £874 against the world's premier currency in five years.

[MrFlibble]

OK, I'm going to get a torrent of abuse as usual, but this story is all smoke and mirrors. Pound strength doesn't look any stronger than any other currency if you look here:

http://www.usagold.com/gold-price-forex.html

Is doesn't indeed. It's high time the world stopped faffing about with these 'hopes & dreams' backed currencies are started backing them with gold. At least some nations have something to back their currency with, oil, gas, metals, minerals, etc. What the hell does the UK have? The North Sea is toast and we cannot export crap little houses abroad as we'd be laughed at.

Merv is a legend in his own mind... He'll be back with his funny money soon enough...

[General Congreve]

£300 to £874 against the world's premier currency in five years.

Indeed. Think there might be something in this story?

[Take Me Back To London!]

http://www.bloomberg.com/news/2010-11-11/pound-gains-versus-euro-for-6th-day-on-tailwinds-from-inflation-report.html

I think Merv has the world mesmerised with his skill and business acumen.

David Blanchflower does not think so.

"Clever as Mervyn King may be, he missed the crash and the subsequent recession, and hence, so did the consensual MPC on which I sat"

Edited November 11, 2010 by Take Me Back To London!

[General Congreve]

£300 to £874 against the world's premier currency in five years.

Now imagine you'd been putting your carefully saved deposit into it, starting at £300 5 years ago and continuing to save until now.

How much cheaper would a house be for you to buy now?

Unfortunately most of us hold pounds, which are being inflated away to maintain the illusion of high house prices, hence the fact house prices don't seem to have got any cheaper.

[MrFlibble]

Now imagine you'd been putting your carefully saved deposit into it, starting at £300 5 years ago and continuing to save until now.

How much cheaper would a house be for you to buy now?

Unfortunately most of us hold pounds, which are being inflated away to maintain the illusion of high house prices, hence the fact house prices don't seem to have got any cheaper.

And it's not going to get any better either. On one hand Merv wants us to export our way out of this mess, but on the other house prices cannot be allowed to fall, leaving El Sterling to take the strain, devalued by printing and inflation. I don't fancy trying to undercut the Chinese while having house prices remain at 6x income myself, but it's the path we're heading down...

[Peter Hun]

Indeed. Think there might be something in this story?

Why not put a chart for the oil price in there as well? Oil has gone up ~400% in the last decade, in GBP, and you can actual use Oil for something rather than looking at it.

Edited November 11, 2010 by Peter Hun

[South Lorne]

OK, I'm going to get a torrent of abuse as usual, but this story is all smoke and mirrors. Pound strength doesn't look any stronger than any other currency if you look here:

http://www.usagold.com/gold-price-forex.html

....looks like a nice bubble ...bit like UK HPs in the previous five years....and those dutch bulbs a few centuries ago.....

[Take Me Back To London!]

Why not put a chart for the oil price in there as well? Oil has gone up ~400% in the last decade, in GBP, and you can actual use Oil for something rather than looking at it.

However, useless bits of yellow metal will still buy as much oil a decade ago as it does today or 50 years ago.

[EvilEdna]

OK, I'm going to get a torrent of abuse as usual, but this story is all smoke and mirrors. Pound strength doesn't look any stronger than any other currency if you look here:

http://www.usagold.com/gold-price-forex.html

Quite - no torrent of abuse from here. I'm sorry to say it but Realist Bear you are utter pants at Forex. This has nothing to do with Sterling strength and everything to do with Euro weakness.

[MrFlibble]

Why not put a chart for the oil price in there as well? Oil has gone up ~400% in the last decade, in GBP, and you can actual use Oil for something rather than looking at it.

That would make for an interesting graph. It's hard to know what to hold, I'd rather hold physical oil than physical gold, but there is no way to achieve this. An ETF is all well and good if you have faith in the financial institutions behind them.

The fiat system is completely screwed, there is simply too much debt and no way to legitimately pay it off.

[General Congreve]

That would make for an interesting graph. It's hard to know what to hold, I'd rather hold physical oil than physical gold, but there is no way to achieve this. An ETF is all well and good if you have faith in the financial institutions behind them.

The fiat system is completely screwed, there is simply too much debt and no way to legitimately pay it off.

Exactly. Other commodities increasing in value are all well and good, but they are:

a) much more volatile than gold, price wise (and in many other respects!)

impossible for the little guy to store directly (hence having to hold via a potentially dodgy ETF with a shaky lender)

Of course that's not to say holding a commodities ETF is not something to consider, but a position in gold comes first for safety IMO.