Monday, December 24, 2007

Pound goes lower

Pound at record low against euro

The pound has fallen to a record low against the euro, as dealers expect more Bank of England (BoE) interest rate cuts in 2008. The pound bought just one euro 37.6 cents in quiet Christmas Eve trading.

Posted by Webmaster @ 12:51 PM (2129 views)
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11 thoughts on “Pound goes lower

  • Japan cut rates to zero in attempt to revive things but did/do at least have things to export. Applying the same medicine to the present Anglo Saxon situation may have more ominous consequences. I can’t see people taking too kindly to people seeing their household bills double in the space of the a year. Brown is boxed in, the housing market is crucified or people’s living standards continue to be destroyed at an accelerating rate. Unfortunately both will probably happen. Even more ominously Brown is thinking about the confiscation of your passports for an ever increasing number of misdemeanours/derelictions of resposibilities – Read the Times yesterday if you don’t believe it. So there you have it. You will not even be able to escape if you disagree with Big Brother himself. You will be homeless, poor and without your freedom, a slave until you die. Merry Christmas.

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  • who stole my pension? says:

    I don’t think the British people defeated Hitler and latter Stalin just to let Brown replace them. However, we had better throw him out quick before he deprvies us of our right to vote. For democracy to fail all it needs is for good people to do nothing!

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  • Merry Christmas to you too.

    I also think that Gordon Brown is screwed. He will try to inflate his way out of the housing bubble credit contraction but unless wages go in line with this he’s going to have a lot of industrial action to deal with, as people’s standard of living plummets.

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  • Please don’t tease ! Here’s the link :o)
    http://www.timesonline.co.uk/tol/news/uk/crime/article3087477.ece
    To be honest if I’d read this Times article about a year ago it won’t have really interested me. I used to of the opinion that the state probably had my best interests in mind when reducing or adjusting my civil liberties. It’s hard to argue against some measures that in principle seem like common sense. However,having lurked around this site for a while now, my degree of cynicism has increased somewhat. I don’t like the smell of this proposed move but I’m also sufficiently informed enough to realise it will probably happen whether I like it or not.

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  • Onc you’ve curtailed rights to a certain degree, the next logical step is the individual has to ask for permission to say, travel out of the country ….. county …… city. Fake travel permit anyone?

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  • Read the above link and concluded that Greater Euroland is looking more and more attractive by the minute, or is that Gordons Secret Plan!

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  • Tell me something new… 2008 will see a massive growth in prostitution.. the rise in homelessness will be unprecendented, crime again will increase and the murder rates will increase also, along with drugs and std’s increasing, 2008 is the start of the hangover, and to quell the unrest, the police will be paid, and our rights taken away, this is not a new phenomenon, it has happened in history. As Churchill once said a dark curtain has fallen over Europe in relation to the start of the cold war. In respect of the UK, the same is happening now, and it will be painful, but short lived.

    As democracy will prevail.

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  • Does anyone have any good links about how to invest in alternative currencies. (For instance is it possible to put my savings into Euro’s but still in an ISA? How about how to invest in Platinum, Silver or other metals?)

    This site has increased my awareness of how economics works greatly, but unfortunately I still don’t know how to go about getting robbed of my savings by this shambles of a government.

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  • Enuii I have often thought that Gordon Brown will eventually use the failing uk economy to his advantage ie force us into the euro, the man is a disgrace along with the pathetic amateurs in his government.Anyway on this slightly depressing note may i wish a happy xmas to all the bloggers on this site, i have learnt so much on here and just want to say thanks to the regulars for adding so many interesting news items.Good luck everyone, but i really do dread to think what xmas 2008 is gonna be like!

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  • I mentioned this before. Bankruptcies and the like only affect people who have to live in this country (because British). Given the number of people who can obtain residency and work permission elsewhere, there will be a lot of people who leave to avoid their debts. Guess what I would do if I held a large debt in a foreign country? Thats right, I would dump the place waving two fingers as I got on the plane. As there is no point paying off any of the debt in some cases instead of just walking off from the lot, there will be an according amount of debts which don’t get partially paid. However, I think GB is threatening passport withdrawal for the reasons stated. If your financial position is so bad that you would rather leave the country though, arguably your child benefit payments are too high.
    Perhaps making families cheaper to raise would be a better idea, then we also wouldn’t need such a large influx of people also. Unfortunately this would start with affordable housing… Or GB could just come straight out with ” I beggared the lot of you ” then we would all know where we stand.
    Merry Christmas also.

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  • I hate listening to people saying they are leaving and moving abroad. Running away wont do the trick im afraid. (New Zealand is a popular one on this site).

    I guess no-one has looked into the annimosity that New Zealanders have towards foreigners whom are taking over their lovely country. Did you know lamb is more expensive in New Zealand than in the UK!

    Sort out your own problems. If you had any balls you would take your problem to Gordy. Stand up for yourselves!

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