Cyprus-Forum.com

[Robin Hood]

Milti:

You said to quote you, so I am! On the 5th July you posted:

Robin, currencies do fluctuate on a daily basis based on a plethora of economic indicators .

That is not true ..... they fluctuate due to currency speculation .... not ‘economic indicators’ that is a con!

What is happening to the pound right now is due solely to the referendum outcome.

Again, wrong .... it was due to currency speculation which does nothing but upset the economy.

Your economist friend is wrong in telling you that the pound will soon recover. It will not.

I don’t think I said soon? I said he told me why it would recover .... and believe me it will! The thing to watch is the Euro. The Italian Banks are in big trouble; as are the Spanish and Portugeses Banks and of course there is poor old Greece still getting hammered but, at least the IMF is admitting they got it all wrong and were responsible for the tragedy in Greece.
But not only are the screwball countries in troublel ..... The mighty Deutch Bank is on the brink as well.

The downward journey will continue because investors will not take the risk.

It is not investors that are the problem, there are plenty willing to invest in the UK. There are also many trying to use the Brexit as an excuse for their own problems and foresee what will/might/could happen when he UK quits.

In a month from now, and you may quote me, the pound will be on par with the Euro.
It seems my source was more accurate than yours.


BUT ..... take a look at this €/£ currency graph; (Use the 12h/1 Day and 1 Week base to see what I am explaining)

http://www.xe.com/currencycharts/?from=GBP&to=EUR&view=1W

In a matter of an hour of trading Friday evening the pound went from 1.1840 to 1.2140 about 5 or 6 times in that period and then settled down to 1.1838.

How on earth can that in any way be related to ‘economic’ factors. It is all pure currency speculation by a few traders who made millions out of that manipulation in a very short space of time.

Once it settled to 1.1838, the graph becomes a straight line! Just check this out: It does this every Friday evening, where the rate remains flat until Sunday evening. This happens EVERY weekend! In other words, it is the speculators not economics that creates the fluctuations. So,get rid of the speculators, prevent their currency manipulation and the future of all currencies would be stable, if as you say, it is just left to economic factors to determine to determine inter-currency values.

The currency value had nothing to do with Brexit, it was all down to speculators, not economics ........ Brexit is an excuse that is ‘convenient’ and hides the reality!

[Londonrake]

IIRC a year or so ago the IMF reported that UK economic recovery was being significantly impeded by the high sterling rate. The estimate given, that it was overvalued by 15 - 18%. The BoE began a QE program, printing billions in order to bring it down. Post the referendum the value drops and IT'S A DISASTER!!

[Lordo]

IIRC a year or so ago the IMF reported that UK economic recovery was being significantly impeded by the high sterling rate. The estimate given, that it was overvalued by 15 - 18%. The BoE began a QE program, printing billions in order to bring it down. Post the referendum the value drops and IT'S A DISASTER!!

nothing has happened yet, to see the economic disaster you will have to wait till after brexit is completed where all the trade agreements will be canceled with the eu. then you will be sorry but it will be too late by then. as yet nothing has changed regarding trade with the eu.

[Robin Hood]

IIRC a year or so ago the IMF reported that UK economic recovery was being significantly impeded by the high sterling rate. The estimate given, that it was overvalued by 15 - 18%. The BoE began a QE program, printing billions in order to bring it down. Post the referendum the value drops and IT'S A DISASTER!!

I agree! Also remember that the QE program should have injected the £375bn(?) directly into the economy. It wasn't! Instead it went directly to the banks and ended up invested in Bonds, securities and the housing market. This caused a rise in 'asset' prices and the 'Markets', it did not impact the REAL economy at all.

[Paul ZKTV]

more stuff

it makes as much sense as this man ...

https://www.youtube.com/watch?v=YTFdjs_QGWc

[Paul ZKTV]

IIRC a year or so ago the IMF reported that UK economic recovery was being significantly impeded by the high sterling rate. The estimate given, that it was overvalued by 15 - 18%. The BoE began a QE program, printing billions in order to bring it down. Post the referendum the value drops and IT'S A DISASTER!!

nothing has happened yet, to see the economic disaster you will have to wait till after brexit is completed where all the trade agreements will be canceled with the eu. then you will be sorry but it will be too late by then. as yet nothing has changed regarding trade with the eu.

Its going to start as soon as A50 is posted to the EU ..
apart from the PM just stuck two fingers up at 1,357,000,000 people - me thinks shes going to torpedo the QUITTERS ...

[Robin Hood]

Lordo:

nothing has happened yet, to see the economic disaster you will have to wait till after brexit is completed where all the trade agreements will be canceled with the eu.

Exactly. The UK will have handed in its notice officially when it implements Article 50. Until then it is a question of setting up all the agreements, with the EU and other countries. The two years, as I see it, is the ‘hand-over’ period to ensure a smooth transition that will benefit the UK and its European partners in trade.

as yet nothing has changed regarding trade with the eu.

So why all the doom and gloom from those that oppose the result of the referendum?

Junker is very keen to make the Brexit as difficult as possible for the UK, it cannot be seen as a beneficial step as others would then go the same route.

BTW: The EU Commissioners are very selective with the application of the rules and regulations! They have implemented a directive over the last couple of years that directs that if there is a collapse of a bank in any European country, it will be resolved as a ‘bail-in’ as applied in Cyprus, not a bail-out by the ECB.

Guess what? Spain, Portugal, Italy, Greece and even Germany have banks teetering on the edge of collapse. If they applied a bail-in in any of these countries it would cause the complete collapse of the EU within hours! So what is the ECB doing? ...... bailing out these banks by loaning them ‘liquidity’ ( a fancy way of saying .... lending them money ..... or bailing them out!)

Even the IMF are now admitting they got it all wrong with Greece and were more interested at the time in dancing to the ECB/EU tune than doing what they should have been doing. They have also said they have given too much attention to supporting the Euro dream .... so keep an eye on the Euro it will go down and the pound will rise accordingly.

[Robin Hood]

So you think the pound is going to topple because of the Brexit ....... think again? If this lot run the system the Euro will be the currency that suffers, not an independent sovereign Pound.

http://www.telegraph.co.uk/business/2016/07/28/imf-admits-disastrous-love-affair-with-euro-apologises-for-the-i/

[Londonrake]

apart from the PM just stuck two fingers up at 1,357,000,000 people - me thinks shes going to torpedo the QUITTERS ...

Can you elaborate upon that statement please?

[Paul ZKTV]

apart from the PM just stuck two fingers up at 1,357,000,000 people - me thinks shes going to torpedo the QUITTERS ...

Can you elaborate upon that statement please?

http://www.bbc.com/news/business-36903904