_w_ Posted November 13, 2008 Share Posted November 13, 2008 Billdb,You really are one of the people I listen too on this bonkers forum. One of the true professionals. What do you do for fun? (Really, I'm interested not taking the pi$) Ah! I don't know whether I should be flattered or insulted for being called a professional. I'll choose to be flattered of course, thanks for that. Wholly undeserved of course Fun these days is a techno-finance version of watching cars burning at chav parties. But with banks and hedge funds instead of cars. I'm a geek. What can I say. Quote Link to comment Share on other sites More sharing options...
Namaste Posted November 13, 2008 Share Posted November 13, 2008 I am. It's called having swiss francs. Lots of swiss francs!!! Where did you open your Swiss account? Quote Link to comment Share on other sites More sharing options...
Chuffy Chuffnell Posted November 13, 2008 Share Posted November 13, 2008 (edited) Where did you open your Swiss account? I'm half British-half Swiss, with both citizenships. Half my family are in Switzerland (mother's side). The money is in a small cantonal bank. I'll bring it over here when a. the pound has reached its low of about 1.5CHF (was 2.5 only a year ago or so) and b. when I buy (with the money) a house here in England at the bottom of the crash in 2010 or so... ready for the next house price boom... A good plan? Well, I think it is! Edited November 13, 2008 by Mr Deflation Quote Link to comment Share on other sites More sharing options...
uptherebels Posted November 13, 2008 Share Posted November 13, 2008 I'm half British-half Swiss, with both citizenships. Half my family are in Switzerland (mother's side). The money is in a small cantonal bank. I'll bring it over here when a. the pound has reached its low of about 1.5CHF (was 2.5 only a year ago or so) and b. when I buy (with the money) a house here in England at the bottom of the crash in 2010 or so... ready for the next house price boom... A good plan? Well, I think it is! A good plan apart from the "bottom of the crash in 2010" bit Quote Link to comment Share on other sites More sharing options...
subebaja Posted November 13, 2008 Share Posted November 13, 2008 I'm in the same boat Mr Parry and Massacre666.I'm trying to cash in an endowment and every day it has less and less euro value. Me too. Thinking of moving back to Spain in the second half of 2009 after eleven years in England, although it will depend on a couple of things. Meant to transfer at least half of my savings to my Spanish bank account last week only to realize my passport was expired. By the time I get it renewed I will have 'lost' hundreds of euros. Quote Link to comment Share on other sites More sharing options...
Saberu Posted November 13, 2008 Share Posted November 13, 2008 1 British pound = 10.16 Chinese Yuan. Looks like my prediction of 1:10 by christmas was optimistic. This exchange rate is much more important than the dollar and Euro. Take notice. Quote Link to comment Share on other sites More sharing options...
Sibley Posted November 13, 2008 Share Posted November 13, 2008 OUCH......... ££££ down to 52 against the Thai baht. Quote Link to comment Share on other sites More sharing options...
FortuneFTB Posted November 13, 2008 Share Posted November 13, 2008 OUCH......... ££££ down to 52 against the Thai baht. Good news for the UK Ladyboy industry, they will get far more business as it becomes cheaper for old pervs to stay at home Quote Link to comment Share on other sites More sharing options...
ccc Posted November 13, 2008 Share Posted November 13, 2008 I am. It's called having swiss francs. Lots of swiss francs!!! I have asked this question numerous times. We are in the midst of a Worldwide banking and financial crisis. Yet I hear numerous people telling me theplace to put your money is Switzerland - a country that relies almost entirely on the banking sector..... The only reason I have been given for this is 'tradition' or a 'perceived safe haven'. I have heard no fundamental reason for doing this. There is little or no real reason for the Swiss currency to remain strong. The country has large huge personal debt and a MASSIVE reliance on a completely goosed banking sector. If I were you I would be moving it elsewhere. Now where to is the question !! Nothing really stands out.. Quote Link to comment Share on other sites More sharing options...
whojamaflip Posted November 13, 2008 Share Posted November 13, 2008 the swiss hold large mortgages due to tax reasons. plenty of drug companies, food exporters, engineering companies etc etc as well as banking Quote Link to comment Share on other sites More sharing options...
Realistbear Posted November 13, 2008 Share Posted November 13, 2008 1 GBP = 1.48826 Euro = 1.19448 Anyone's guess if it is going to break 1.40 this week or hang in around the 1.50 point. If the US economy was doing well it would be a much easier call. The market seems to be following the IMFs view that of the G7 we have the least sound fundamentals to deal with the downturn. Everything Gordon has said has been proven to be totally inaccurate other than it did start in America and it is indeed global. Quote Link to comment Share on other sites More sharing options...
Methinkshe Posted November 13, 2008 Share Posted November 13, 2008 Of course, the reason why Gordon wants a global solution - i.e. one where every country gets themselves equally in the s**t, is to prevent these currency fluctuations. While there's any possibility that one country might ride out the storm better than the next, money will find its way there. That's what Gordon is trying to prevent with his calls for a global solution. Quote Link to comment Share on other sites More sharing options...
Realistbear Posted November 13, 2008 Share Posted November 13, 2008 (edited) Of course, the reason why Gordon wants a global solution - i.e. one where every country gets themselves equally in the s**t, is to prevent these currency fluctuations. While there's any possibility that one country might ride out the storm better than the next, money will find its way there. That's what Gordon is trying to prevent with his calls for a global solution. I think you nailed it. Great Britain Flag 1 GBP = 1.48871 Euro = 1.19414 Edited November 13, 2008 by Realistbear Quote Link to comment Share on other sites More sharing options...
lets get it right Posted November 13, 2008 Share Posted November 13, 2008 Oh ffs. And all we see is that prize prancing pillock on the news every night preening himself with his BROWN BOUNCE. I know where I'd like to bounce him.Surely even British people have to realise sooner or later how utterly shafted they have been by new labour. You still aren't on message. The story is 'this is a GLOBAL problem, caused by the Yanks.' Repeat after me: 'this is a GLOBAL problem, caused by the Yanks.' And: 'We are well placed to deal with this because we have such low debt.' 'But, Prime Minister, with respect, that's a load of nonsense. They'll never swallow that.' 'You can fool enough of the people all the time to keep us in power. That's all that counts. In every interview you are to repeat my two mantras at least 10 times. Underrstoood?' 'Yes, Prime Minister' There is nothing as stupid as the collective British public. Quote Link to comment Share on other sites More sharing options...
Wimbledon88 Posted November 13, 2008 Share Posted November 13, 2008 Meanwhile, in the real world, the pound now buys 1.4896 Quote Link to comment Share on other sites More sharing options...
sossij Posted November 13, 2008 Share Posted November 13, 2008 Good to see gold performing it's function admirably. The sterling price has protected the value of my money. Me too. I'd have lost loads if I'd listened to FantasistBear. Quote Link to comment Share on other sites More sharing options...
Realistbear Posted November 13, 2008 Share Posted November 13, 2008 Me too. I'd have lost loads if I'd listened to FantasistBear. Gold is doing well against oil too! Goldbugs must be getting moire than a little worried about now as the metal stuff fails to live up to its promise? Cue: http://uk.youtube.com/watch?v=1rAsoLm1Ges Quote Link to comment Share on other sites More sharing options...
ccc Posted November 13, 2008 Share Posted November 13, 2008 the swiss hold large mortgages due to tax reasons.plenty of drug companies, food exporters, engineering companies etc etc as well as banking There have been a few posters who live in Switzerland who have commented previously. From their input I don't think the Swiss economy is quite as robust as the rest of the World may expect. Who knows. I just think, in currency terms, that relying on a country that has a huge reliance on banking seems a little risky at this present moment..... Quote Link to comment Share on other sites More sharing options...
DebitCrunch Posted November 13, 2008 Share Posted November 13, 2008 With UK savings rates so low who can blame people for moving out the pound. Whats next an emergency decision to join the euro to save us all or something like that without asking the people what they think time to brush up on your french Quote Link to comment Share on other sites More sharing options...
Agentimmo Posted November 13, 2008 Share Posted November 13, 2008 With UK savings rates so low who can blame people for moving out the pound.Whats next an emergency decision to join the euro to save us all or something like that without asking the people what they think time to brush up on your french Monsieur Dupont a ete vire cette semaine. Madame Dupont est au chomage depuis 6 mois. Leur fils, Charles, est au chomage depuis 2 ans. Leur fille, Anne-Sophie, travail dans un bar comme hotesse. Elle paie le loyer pour la famille........ The situation is not much better across the Channel, mon ami........ Quote Link to comment Share on other sites More sharing options...
mattyboy1973 Posted November 13, 2008 Share Posted November 13, 2008 Gold is doing well against oil too! Goldbugs must be getting moire than a little worried about now as the metal stuff fails to live up to its promise? Cue: http://uk.youtube.com/watch?v=1rAsoLm1Ges RB this is getting a bit wearing mate - you made your decision and others have made theirs. No one has been proven right or wrong yet, not that it should be a p!ssing contest. You originally said you would get out of USD at $1.55 but I take it you haven't? That is the sort of thing that can backfire on you, perhaps you ought to stick to your original plan? I don't think you will get serious inflation without a convincing deflation scare first, so we are half way there. Quote Link to comment Share on other sites More sharing options...
sossij Posted November 13, 2008 Share Posted November 13, 2008 I don't think you will get serious inflation without a convincing deflation scare first, so we are half way there. Indeed mattyboy, looks like the Saudis agree with you: http://arabianmoney.net/2008/11/13/saudi-a...d-in-two-weeks/ Quote Link to comment Share on other sites More sharing options...
GregG Posted November 13, 2008 Share Posted November 13, 2008 RB this is getting a bit wearing mate - you made your decision and others have made theirs. No one has been proven right or wrong yet, not that it should be a p!ssing contest.You originally said you would get out of USD at $1.55 but I take it you haven't? That is the sort of thing that can backfire on you, perhaps you ought to stick to your original plan? I don't think you will get serious inflation without a convincing deflation scare first, so we are half way there. Fear and greed. With the move of the dollar outpacing his expections he must easily have enough pounds to buy himself a nice house in the UK by now. But there is always that sense of "what if it goes all the way to parity with the Euro". Then I could have a British McMansion and a house in a league or area I never dreamed of owning. We can see this because we don't have the winning position. To us his handsome gain is more than enough. To him it is not quite enough, yet. Just a little longer, a few more cents. Personally I am ready to buy the first decent house that comes into my price range that suits my needs. Then I'll stop looking and stop caring and count my blessings that I own the roof over my head and am not living in a tent city in some shitty African state. I'm intending to stay in it for 30 years or till the atom bomb drops so the price fluctuations won't concern me any longer. Quote Link to comment Share on other sites More sharing options...
mattyboy1973 Posted November 13, 2008 Share Posted November 13, 2008 Fear and greed. With the move of the dollar outpacing his expections he must easily have enough pounds to buy himself a nice house in the UK by now. But there is always that sense of "what if it goes all the way to parity with the Euro". Then I could have a British McMansion and a house in a league or area I never dreamed of owning. We can see this because we don't have the winning position. To us his handsome gain is more than enough. To him it is not quite enough, yet. Just a little longer, a few more cents.Personally I am ready to buy the first decent house that comes into my price range that suits my needs. Then I'll stop looking and stop caring and count my blessings that I own the roof over my head and am not living in a tent city in some shitty African state. I'm intending to stay in it for 30 years or till the atom bomb drops so the price fluctuations won't concern me any longer. Good attitude and yes, selling is a lot harder than buying and I am stuck with a few of my own turkeys at the moment! (mostly resource stocks but hey, they're backed up by a lot more than some) Quote Link to comment Share on other sites More sharing options...
Realistbear Posted November 13, 2008 Share Posted November 13, 2008 1 GBP = 1.48525 Euro = 1.18492 The pound/euro is looking bad. 1.18!!! Quote Link to comment Share on other sites More sharing options...
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