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Pluto

Tim To Get Out Of The Pound!

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Yes, the pound has been w recklessly managed, all the bailouts will be paid for by holders of pounds. The vultures are circling overhead - and it is time to drop those pounds before it takes a swift haircut.

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Its times like this im glad all my money went into a house. A house will always keep me warm, the rain off my back, etc. The basic human right to shelter. What more do ya need :)

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I've blabbed extensively on on this here but today's action shouldn't be seen as a reason to abandon sterling (or at least cable).

Cable looks like it has entered a wide trading range but let's not forget that the dollar is completely snookered. Anyone worried abot currencies long term might look at CHF (Swiss Franc) or even yen for a punt.

We surely must be seeing the start of a real unwinding now of the carry trades as the investment vehicles (property and related products) start to creak and crash worldwide.

But, while I'd be wary of the pound very short term I wouldn't abandon it in the longer term just yet.

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Things must be bad if you say even swap for the fiat $$$$$$$$$$$

i back the euro but many here put it down and would not know about the saying about friend and trend so i won't try and teach em now.

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Guest grumpy-old-man
Things must be bad if you say even swap for the fiat $$$$$$

i back the euro but many here put it down and would not know about the saying about friend and trend so i won't try and teach em now.

one of the reasons why I left my french house & didn't sell it.

It will be safer in euros or whatever takes over from the euros (if anything does <_< ) & also the fact that I bought it at the top of the french market (knowingly).

I would hate to be holding a large amount of cash right now......I mean who really knows what's safe.

what else could you possibly invest in apart from property & fiat....h'mmmm ;)

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Is there any chance the pound will have an astronomical crash over the next 3 weeks because I have 40 thousand NZ dollars I need to transfer back to the UK and I'm holding out hoping for a better rate (the NZ dollar has had a huge crash over the last 2 months)

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Is there any chance the pound will have an astronomical crash over the next 3 weeks because I have 40 thousand NZ dollars I need to transfer back to the UK and I'm holding out hoping for a better rate (the NZ dollar has had a huge crash over the last 2 months)

There's always a chance of a crash but the NZD has been pumped by the carry trade and that crash is the unwinding but that may well continue for a while (with plenty of volatility).

How long do you plan to hold out for? Unfortunately, without looking at the technicals the broad fundamentals suggest the NZD could continue to go lower.

This stuff may hurt sterling short term but longer term it's still attractive. So you may get a better rate over the next couple of weeks but holding for a crash is.. well, just hope. And what happens to the NZD in the meantime?

Your time window looks too short really to be bothered about such things. The bright side is that sterling offers a decent yield. Not as good as NZD but there you are.

Finding the absolute best deal is probably where you should be at. Make sure you don't get hammered in the middle; that's a big enough sum that you shouldn't but too small to make that much difference on the actual rate movements (in the short term).

This stuff always comes down to dumb luck (if you are tied by time.)

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There's always a chance of a crash but the NZD has been pumped by the carry trade and that crash is the unwinding but that may well continue for a while (with plenty of volatility).

How long do you plan to hold out for? Unfortunately, without looking at the technicals the broad fundamentals suggest the NZD could continue to go lower.

This stuff may hurt sterling short term but longer term it's still attractive. So you may get a better rate over the next couple of weeks but holding for a crash is.. well, just hope. And what happens to the NZD in the meantime?

Your time window looks too short really to be bothered about such things. The bright side is that sterling offers a decent yield. Not as good as NZD but there you are.

Finding the absolute best deal is probably where you should be at. Make sure you don't get hammered in the middle; that's a big enough sum that you shouldn't but too small to make that much difference on the actual rate movements (in the short term).

This stuff always comes down to dumb luck (if you are tied by time.)

Or you could have just said......"I haven't got a clue" :lol:

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I should add that action in the current market is virtually impossible to call on fundamentals as there are a handful of people who can (and will) move US or UK rates 'a lot' (simply) to (try to ) save the banking system (their pals).

We're currently seeing the disconnect between market rates and the fleas on the dogs' backs down at central bank central.

Fundamentals suggest rises are required yet these jokers all want to cut.

Nature cannot be fooled; such practices will end badly.

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Yes, the pound has been w recklessly managed, all the bailouts will be paid for by holders of pounds. The vultures are circling overhead - and it is time to drop those pounds before it takes a swift haircut.

So what should people with savings in the bank do?

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Guest An Bearin Bui
Yes, the pound has been w recklessly managed, all the bailouts will be paid for by holders of pounds. The vultures are circling overhead - and it is time to drop those pounds before it takes a swift haircut.

:huh:

Don't wish to seem dense (currency markets were never my strong point) but why would the pound be under particular threat due to the recent bailout when the EUR and $ have had much heftier and more prolonged bailouts? I can't see how the dollar would be better when it's basically toast if the Fed cut rates as is widely expected on Sept 18th.

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Right Ive been watching this one all day so far-what I have noticed is this......the indian rupee has been one of the slowest currencies for the pound to weaken against because it was already fairly weak from 52 weeks hi/lo points. On a very practical note folk could do a LOT worse than invest right now into a few quids worth of indian rupee because in the event that the pound DOES see severe weakening I would like to bet many indian shopkeepers will still take rupee if the pound is worth sod all-they have a strong sense of community spirit and will look after their own when times are tough. They'll be as good a hard cash to have in your pocket as anything against the pound at the moment ;)

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