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Dollar Being Crushed And Pound Even Harder

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EURUSD trading with a 1.57 handle and yet GBPUSD lower trading below 2.02. Astonishing move on a Sunday night.

I wonder which UK bank is going down tomorrow?

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Genuine question, how can you infer such things from currency movements?

Also if anyone else could care to answer, whats so bad about a weaker pound as far as i can tell it makes me more competetive in the global workplace?

<<edit to add >> I'm off to read the entire 'sterling sliding' thread to see if it yields any answers.

Edited by slurms mackenzie

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EURUSD trading with a 1.57 handle and yet GBPUSD lower trading below 2.02. Astonishing move on a Sunday night.

I wonder which UK bank is going down tomorrow?

not too bad - if you remember last year when the FTSE 100 first plunged towards 6,000 the £ was losing $.02 before midnight

dow and ftse futures not bad all things considered

Edited by the end is nigh

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this is like watching Dallas

I bet they wish they could rewrite the story so that the asset bubble was just part of a dream Alan Greenspan had.

(Actually I'd quite like to wake up and find that house prices were 50% lower.)

Edited by thecrashingisles

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not too bad - if you remember last year when the FTSE 100 first plunged towards 6,000 the £ was losing $.02 before midnight

dow and ftse futures not bad all things considered

TEIN:

How do you find this detail online? Do you have a link....?

Thanks in advance,

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Irrelevancy... At a social function this weekend, someone claimed (and was absolutely sure - even when I queried) that in the 70s they got $4 for £1... they were talking utter horse-dung... weren't they?

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Irrelevancy... At a social function this weekend, someone claimed (and was absolutely sure - even when I queried) that in the 70s they got $4 for £1... they were talking utter horse-dung... weren't they?

IIRC they are correct

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The point is with all the focus on Bear Stearns and Fed action sending the dollar lower, the dollar is actually APPRECIATING versus the pound meaning something nasty is afoot on our own shores.

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Subject: in 1970s - $4==£1

IIRC they are correct

Really? The only graphs I could find of this kind of historic data suggested that the last time it was above $3 to £1 was in ~1945.

Is there something subtle I'm missing?

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The point is with all the focus on Bear Stearns and Fed action sending the dollar lower, the dollar is actually APPRECIATING versus the pound meaning something nasty is afoot on our own shores.

What like the media and our political masters talking up the knowledge economy. Just how much in the back pocket of investment banks and supermarkets are politicians? Well lets fall back on our engineering firms , d'oh no-one did anything to encourage engineers or scientists.

A&L 2-1

B&B 3-1

BoE 100-98

LOL

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The point is with all the focus on Bear Stearns and Fed action sending the dollar lower, the dollar is actually APPRECIATING versus the pound meaning something nasty is afoot on our own shores.

At some point people are going to figure out that the UK property bubble makes the US bubble look like a little blip.

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Guest vicmac64

As a statement your question is quite valid - with the financial news we are getting right now that the 4th or was it 5th biggest investment bank in america is well out of funds shall we say and given the Northern Rock Scenario if I had money in any of the riskier institutions that have been mentioned in the mainstream media I would be getting it out of there without much delay!!!!!

So Actually there is as much chance of a British Bank going down tomorrow as there was Bear Stearns 'allegedly going down' on Friday - on Thu evening would you have predicted Bear Stearns calamities? I think not..........

Get you money to a safer place than fiat currency banks which it would seem on the face of it cannot be trusted.

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Irrelevancy... At a social function this weekend, someone claimed (and was absolutely sure - even when I queried) that in the 70s they got $4 for £1... they were talking utter horse-dung... weren't they?

Not at all, my dad took advantage and took us all on a fly drive california holiday on the back of a 4 dollar quid. Petrol was about 7p a gallon or something stupid out there.

I don't remember all that much of it though.

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The UK "property bubble", is nowhere near as bad as the US's. Our problem is mainly contained to new build apartment property club scams in areas of oversupply, there will also be some fallout from tightening lending criteria especially in sub prime but this is a comparitively small percentage of the market compared to the US. Brokers and lenders over there have been practically murdering borrowers with ridiculous mortgages they could never afford. At least our buy to letters generally have good income to fall back on. Our undersupply will keep us from crashing too much. The US has had a massive oversupply of housing and very light mortgage regulation. Very different from us.

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At some point people are going to figure out that the UK property bubble makes the US bubble look like a little blip.

You are so right. As an aside, I have never seen such bad economic news in my lifetime. For those interested, check out "the housingbubbleblog.com". Bear Sterns is going down in the morning. The house of cards is really collapsing.

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Not at all, my dad took advantage and took us all on a fly drive california holiday on the back of a 4 dollar quid. Petrol was about 7p a gallon or something stupid out there.

I don't remember all that much of it though.

Please review South Lorne's post a few back... that references the exact same graph I looked at.

The graph contradicts your story somewhat... however... I've met someone else who said exactly the same... something is clearly adrift here... I'd love to know what.

Can you find any documents that suggest the exchange rate you claim? Can you find a different historic graph?

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As a statement your question is quite valid - with the financial news we are getting right now that the 4th or was it 5th biggest investment bank in america is well out of funds shall we say and given the Northern Rock Scenario if I had money in any of the riskier institutions that have been mentioned in the mainstream media I would be getting it out of there without much delay!!!!!

So Actually there is as much chance of a British Bank going down tomorrow as there was Bear Stearns 'allegedly going down' on Friday - on Thu evening would you have predicted Bear Stearns calamities? I think not..........

Get you money to a safer place than fiat currency banks which it would seem on the face of it cannot be trusted.

....on this site Bear Stearns were seen to be in trouble last July .....surprised there is surprise...a bit like NR.... <_<

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  • 296 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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