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Question is how far can the £ drop?

The long term 10 year average is in the 1.60s. If we have a banking meltdown think in terms of 1.50 or below.

Go to the worldbank website and its pretty obvious why we are in trouble. Our banks owe more money than the banks of any other country and far more than the US system. Many are, in effect "bankrupt."

http://web.worldbank.org/WBSITE/EXTERNAL/D...1805415,00.html

Bloomberg just named HBOS and A&L as facing trouble ahead. :o

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Not too far I hope - going to Vegas in 10 days!!!

Should II buy my Dollars now - dya think?

TB

Sooner rather than later. I am off to Texas for three weeks starting next week but already have $. <_<

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A lot of my work comes from the US so the exchange rate hasn't been doing me any favours. A nice healthy dip in the £/$ would see my earnings increase nicely.

Of course the extra I earn would probably just about cover inflation increases.

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The long term 10 year average is in the 1.60s. If we have a banking meltdown think in terms of 1.50 or below.

Go to the worldbank website and its pretty obvious why we are in trouble. Our banks owe more money than the banks of any other country and far more than the US system. Many are, in effect "bankrupt."

http://web.worldbank.org/WBSITE/EXTERNAL/D...1805415,00.html

Bloomberg just named HBOS and A&L as facing trouble ahead. :o

SWEET - I have A&L in the work sweepstake for next to croak!

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A lot of my work comes from the US so the exchange rate hasn't been doing me any favours. A nice healthy dip in the £/$ would see my earnings increase nicely.

Of course the extra I earn would probably just about cover inflation increases.

But when the Fed cuts the rate by 0.5% the Pound will go back up.

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Question is how far can the £ drop?

If the govt don't defend Sterling there will be hell to pay.

All that house prices rises business was just "fantasy" money. So what if your house has gone up in price? It's intangible. How do you realise that money? By selling your house. But if you sell your house then where do you live? Owning is the thing to do. Forget STR, bears, "That's foreign muck, I'd never eat any of that!"

I think we underestimate the "sheeple". To them the astro house prices were always irrelevant, and they (the sheeple) have shown us (the crasher doom mongers) a thing or two over the past couple of days, with respect to their priorities.

Long ago, they had cottoned on to the idea that salaries weren't going up, and also that prices in the shops haven't been doing a 1974 every year between 2001 and now. Therefore Sterling *is* still worth something to them. Otherwise why would they still have the savings they're queueing for?

"Those savings represent XX months of my work and are still worth DVDs, widescreen TVs, holidays, beer, porn mags and dodgy motors, even if I can't buy a bigger house, in fact a bigger bloody house is just about the only thing I can't still buy."

I bet the Sheeple realised long ago that the house prices, property is my pension spin, Sarah Beeny paint a house spin, Buy To Let spin, all this business was all bo11ocks, and was bound to end sometime, but now try taking the real money away from them and ....

You have what you saw today.

Food for thought.

B)

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If the govt don't defend Sterling there will be hell to pay.

Once FOREX traders realise what the UK government are up to, that is protect house prices at any costs, the pound will be sold with a passion. In economics there is no free lunch, and todays little gift to the banks of free insurance will cost the pound dearly.

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