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Sterling Favoured Store Of Value For Asia And Oil Exporters

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Sterling regains crown as queen of currencies

Sterling accounts for a staggering 12pc of foreign bank deposits held by the world's governments, regaining her 19th-century crown as queen of currencies.

Fresh data unearthed by the Bank of International Settlements shows the pound is even more prized than thought, becoming a favoured store of value for the rising powers of Asia and the oil exporting bloc.

The sterling deposits are more than those held in Japanese yen, Swiss francs, Australian and Canadian dollars, and the Scandinavian currencies combined.

"The share of sterling doubled between 1995 and 2006, from 5pc of deposits to almost 12pc," said the bank's quarterly report.

Apparently big money seems to trust Brown and Britain. :blink:

As the Torygraph puts it:

But latest BIS figures suggest that sterling's recovery from sick list to benchmark glory is even more dramatic, helping to explain how the pound has risen to near 20-year highs against a basket of currencies despite Britain's growing trade deficit.

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The world believes in Miracle Economies and yes, despite all the bad news relating to our export imbalances, unemployment growth, political instability and eroding manufacturing base. As long as Gordon can keep pumping up the money supply and keeping IR accomodative he may be able to keep up the facade until winter sets in. He had better hope the TUC don't start going on strike for higher wages to afford living in a miracle economy.

$1.862 today.

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The world believes in Miracle Economies and yes, despite all the bad news relating to our export imbalances, unemployment growth, political instability and eroding manufacturing base. As long as Gordon can keep pumping up the money supply and keeping IR accomodative he may be able to keep up the facade until winter sets in. He had better hope the TUC don't start going on strike for higher wages to afford living in a miracle economy.

$1.862 today.

Your "anti-spin" of using the words 'Miracle Economy' in every post has worked. Everytime I read it I want to smack you in the face!!

I am no supporter of Brown by the way just find it f***ing annoying!

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Your "anti-spin" of using the words 'Miracle Economy' in every post has worked. Everytime I read it I want to smack you in the face!!

I am no supporter of Brown by the way just find it f***ing annoying!

Hear hear.

I read in an FT article recently some hedge fund hotshot arguing that high oil prices were causing HPI, because the petrodollars was "dumb money" going into dumb investments like property, and that if the oil price dropped, sterling and the property market would drop.

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Your "anti-spin" of using the words 'Miracle Economy' in every post has worked. Everytime I read it I want to smack you in the face!!

I am no supporter of Brown by the way just find it f***ing annoying!

Its the euphemism for Gordon's creation. Much like the "over use" of "HPI" or "HPC."

IMO, its the perfect anti-spin word and so appropriate as a euphemism/metaphor for what Gordon has done:

A euphemism
is an expression intended by the speaker to be less offensive, disturbing, or troubling to the listener than the word or phrase it replaces, or in the case of doublespeak to make it less troublesome for the speaker.
When a phrase is used as a euphemism, it often becomes a metaphor whose literal meaning is dropped. Euphemisms are often used to hide unpleasant or disturbing ideas, even when the literal term for them is not necessarily offensive. This type of euphemism is used in public relations and politics, where it is sometimes disparagingly called doublespeak. There are also superstitious euphemisms, based (consciously or subconsciously) on the idea that words have the power to bring bad fortune (for example, not speaking the word "cancer"; see Etymology and Common examples below) and religious euphemisms, based on the idea that some words are sacred, or that some words are spiritually imperiling (taboo; see Etymology and Religious euphemisms below).

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Its the euphemism for Gordon's creation. Much like the "over use" of "HPI" or "HPC."

IMO, its the perfect anti-spin word and so appropriate as a euphemism/metaphor for what Gordon has done:

A euphemism
is an expression intended by the speaker to be less offensive, disturbing, or troubling to the listener than the word or phrase it replaces, or in the case of doublespeak to make it less troublesome for the speaker.
When a phrase is used as a euphemism, it often becomes a metaphor whose literal meaning is dropped. Euphemisms are often used to hide unpleasant or disturbing ideas, even when the literal term for them is not necessarily offensive. This type of euphemism is used in public relations and politics, where it is sometimes disparagingly called doublespeak. There are also superstitious euphemisms, based (consciously or subconsciously) on the idea that words have the power to bring bad fortune (for example, not speaking the word "cancer"; see Etymology and Common examples below) and religious euphemisms, based on the idea that some words are sacred, or that some words are spiritually imperiling (taboo; see Etymology and Religious euphemisms below).

Thanks for the patronising response, but I know what euphemism and metaphor are. The point was about your repeated use of the phrase ad nauseum (which means to the point of vomiting, by the way *), not the significance of the phrase itself.

* Parody

Edited by the_duke_of_hazzard

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Its the euphemism for Gordon's creation. Much like the "over use" of "HPI" or "HPC."

IMO, its the perfect anti-spin word and so appropriate as a euphemism/metaphor for what Gordon has done:

A euphemism
is an expression intended by the speaker to be less offensive, disturbing, or troubling to the listener than the word or phrase it replaces, or in the case of doublespeak to make it less troublesome for the speaker.
When a phrase is used as a euphemism, it often becomes a metaphor whose literal meaning is dropped. Euphemisms are often used to hide unpleasant or disturbing ideas, even when the literal term for them is not necessarily offensive. This type of euphemism is used in public relations and politics, where it is sometimes disparagingly called doublespeak. There are also superstitious euphemisms, based (consciously or subconsciously) on the idea that words have the power to bring bad fortune (for example, not speaking the word "cancer"; see Etymology and Common examples below) and religious euphemisms, based on the idea that some words are sacred, or that some words are spiritually imperiling (taboo; see Etymology and Religious euphemisms below).

It'll be a miracle euphamism if you don't get a smack in the chops!

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Thanks for the patronising response, but I know what euphemism and metaphor are. The point was about your repeated use of the phrase ad nauseum (which means to the point of vomiting, by the way *), not the significance of the phrase itself.

* Parody

You are overlooking the fact that you are not the only Bear on the website. Newcomers by the score visit and when they review the threads they will be seeing euphemisms and metaphors that will not be as familiar to them as they may be to you.

If "Miracle Economy" were dropped from HPC phraseology we would all be the poorer as it sums up in 2 words a justifiably cynical view of Gordon's creation.

A recent favourite has been "irrational exhuberance"--worked to death no doubt but what a fitting pharse to describe what has been filling the bubbles we see all around us.

Stick to substance and avoid the petty sniping IMO.

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Crikey. Going from zero to threatening a punch in the chops (2 posters no less) is pretty poor form.

RB hasnt posted anything offensive or threatening, so your frankly bizarre displays of aggression are uncalled for and unwelcome.

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Be fair guys I have heard the term 'Miracle Economy' banded around on Talk sport + In some newspapers.

RealistBear did not invent the term so why knock him for using it :ph34r:

I enjoy reading his posts if you don't like them you can can always just ignore them :unsure:

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You are overlooking the fact that you are not the only Bear on the website. Newcomers by the score visit and when they review the threads they will be seeing euphemisms and metaphors that will not be as familiar to them as they may be to you.

If "Miracle Economy" were dropped from HPC phraseology we would all be the poorer as it sums up in 2 words a justifiably cynical view of Gordon's creation.

A recent favourite has been "irrational exhuberance"--worked to death no doubt but what a fitting pharse to describe what has been filling the bubbles we see all around us.

Stick to substance and avoid the petty sniping IMO.

I particularly like "bubbleicious"

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  • 302 Brexit, House prices and Summer 2020

    1. 1. Including the effects Brexit, where do you think average UK house prices will be relative to now in June 2020?


      • down 5% +
      • down 2.5%
      • Even
      • up 2.5%
      • up 5%



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