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THE DEATH OF THE POUND IS IMMINENT

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Re: THE DEATH OF THE POUND IS IMMINENT

Postby miltiades » Mon Mar 27, 2017 3:23 pm

With Article 50 " invoke" hours away the pound it seems has already reflected in anticipation of Wednesday 29th. Up today against both the US Dollar and the Euro at 1.26 and 1.157 respectively.
Will it continue a steady rise after Wednesday? Frankly who knows.
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Re: THE DEATH OF THE POUND IS IMMINENT

Postby Robin Hood » Mon Mar 27, 2017 3:57 pm

miltiades wrote:With Article 50 " invoke" hours away the pound it seems has already reflected in anticipation of Wednesday 29th. Up today against both the US Dollar and the Euro at 1.26 and 1.157 respectively.
Will it continue a steady rise after Wednesday? Frankly who knows.


As we have known the A-50 :roll: date for some time now ..... it should not make a significant difference to the rate of exchange. :roll: :wink:
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Re: THE DEATH OF THE POUND IS IMMINENT

Postby GreekIslandGirl » Mon Mar 27, 2017 7:17 pm

It looks like the new pound coin is going to cause a lot of hardship. Trolleys, vending machines, lockers, Miltiades's favourite parking meters ...
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Re: THE DEATH OF THE POUND IS IMMINENT

Postby miltiades » Wed Mar 29, 2017 8:51 am

Today, March 29th 2017 is "A" day for the UK, or rather may I say is "D" day , d stands for disaster !!! Here we are triggering Article 50 to exit the biggest world trading block right on our door step, in the blind belief that we shall ....regain our sovereignty, control of our borders , enrich our NHS by billions, enact our ...own laws and of course take our country back !!!

Entering uncertainty , uncharted thus far journey into the unknown, but as they say the people have spoken, well a tiny minority did. From Total Electorate: 46,500,001, 17,410,742 (51.9%)
voted to leave while 16,141,241 (48.1% voted to remain. This is democracy and must be respected but we must bear in mind that only 38% of the total electorate voted to leave.

This day will go down in British history as D Day, the ....second !
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Re: THE DEATH OF THE POUND IS IMMINENT

Postby Tim Drayton » Wed Mar 29, 2017 9:06 am

miltiades wrote:Today, March 29th 2017 is "A" day for the UK, or rather may I say is "D" day , d stands for disaster !!! Here we are triggering Article 50 to exit the biggest world trading block right on our door step, in the blind belief that we shall ....regain our sovereignty, control of our borders , enrich our NHS by billions, enact our ...own laws and of course take our country back !!!

Entering uncertainty , uncharted thus far journey into the unknown, but as they say the people have spoken, well a tiny minority did. From Total Electorate: 46,500,001, 17,410,742 (51.9%)
voted to leave while 16,141,241 (48.1% voted to remain. This is democracy and must be respected but we must bear in mind that only 38% of the total electorate voted to leave.

This day will go down in British history as D Day, the ....second !


I predict the day will come when those who voted to leave will deny it.
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Re: THE DEATH OF THE POUND IS IMMINENT

Postby Tim Drayton » Wed Mar 29, 2017 9:14 am

More lies and half truths from the right-wing tabloids:

"Pound to euro exchange rate - sterling ROCKETS on the morning before Article 50"

http://www.express.co.uk/travel/article ... hange-rate

Yes, the price jumped up a little in early trading, before being hammered. Never mind, the British offshore tax havens are safe now from the EU so the Rupert Murdochs of this world are safe to stash their illicit, undeclared funds there.
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Re: THE DEATH OF THE POUND IS IMMINENT

Postby Londonrake » Wed Mar 29, 2017 10:47 am

I of course prefer to call it.......................... F day. F for Freedom. :wink:

12.30GMT apparently.

http://www.telegraph.co.uk/news/2017/03 ... ll-unfold/

Tears all round, especially in Romania and Poland, as the 'cash cow' walks away:

£500 billion gross contributions since the UK joined:

https://d3n8a8pro7vhmx.cloudfront.net/v ... 1451513263

....and they eventually get to decide who comes and who gets kick out. I'd personally start with a few like this:

http://www.bbc.com/news/uk-politics-eu- ... m-36467725

Feels good. :D

miltiades wrote:Today, March 29th 2017 is "A" day for the UK, or rather may I say is "D" day , d stands for disaster !!! Here we are triggering Article 50 to exit the biggest world trading block right on our door step, in the blind belief that we shall ....regain our sovereignty, control of our borders , enrich our NHS by billions, enact our ...own laws and of course take our country back !!!

Entering uncertainty , uncharted thus far journey into the unknown, but as they say the people have spoken, well a tiny minority did. From Total Electorate: 46,500,001, 17,410,742 (51.9%)
voted to leave while 16,141,241 (48.1% voted to remain. This is democracy and must be respected but we must bear in mind that only 38% of the total electorate voted to leave.

This day will go down in British history as D Day, the ....second !


85% of World trade takes place outside the EU. The Commission's record on trade has been abysmal. They tried and failed for 27 years to get a deal with the biggest economy on the planet. They tried and failed the same with Japan and China. Trade-wise the Federation has become more and more inward looking. That, reflected in the likes of stagnant growth and increasing unemployment, particularly among the young. Both sides have made it clear on many occasions that it would be mutually destructive not to come to some bi-partisan arrangement on trade. I have posted the figures which demonstrate the extent of EU exports to the UK, which has a significant deficit in that respect. In the extremely unlikely event of there being no such accord then Britain would just have to continue under WTO rules, just like the previously mentioned major economies. That works both ways of course.

Yes, it will mean regaining sovereignty over the UK borders. ImageAlthough that will not be as immediate or draconian as the more vociferous opponents of uncontrolled, mass immigration seem to be expecting. The UK is IIRC the second largest contributor to Brussels. Something like €10 billion net a year. Clearly not all to be spent on the NHS black hole but freed up nevertheless. Both that point and the UK exclusively enacting it's own laws have surely been covered several times before though?

Sorry, but presenting the fact that "only" 38% of the UK population voted for Brexit as some sort of deficiency is absurd. It was the largest electoral event in the history of the country. Political parties have won governance on a fraction of that turnout. That, as you point out is democracy. Although many who think of themselves as democrats have tried and so far failed to overturn it, regardless

I always thought the first D Day was a great success. :wink:

Tim. I have gotten used to the Forex related terminology. It's always been a case of either "Plummeted" or "Rocketed". Even when talking about fractions of a cent. :roll:

As for the offshore thing. The big-business/banking cartels that lined up for Project Fear I suspect made the so-called Murdoch offshore funds conspiracy pale into insignificance. The delightful Ms Gina Miller's "anonymous backers" would prove interesting fare in that respect I imagine.
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Re: THE DEATH OF THE POUND IS IMMINENT

Postby Schnauzer » Wed Mar 29, 2017 10:56 am

To mark the period when the UK severs it's ties with the EU, a new pound coin is circulated and will replace the old which was too easily forged.

In THAT sense one can accept the gloomy prediction that the 'Death of the pound is imminent' since it has already been stated that in October the old pound will cease to be legal tender and quite rightly so, the forged coins are now so widely distributed that there are more forgeries than genuine coins in circulation (apparently).

However, it would seem that there are those who are gleefully expecting the UK to suffer great hardships upon severing it's ties with the EU and I personally feel that such gleeful expectations are disgusting to say the least, particularly when they are sourced from those who have depended upon the UK for their livelihoods over the greater part of their lives.

But have no fear, the vast majority of the 'Brits' are endowed with the 'Courage' to face adversity and, as they (their country) ventures on a new journey into unknown realms (be they whatever) they invariably do so with confidence and fortitude and,for as much as I dislike their 'Foreign Policies' and other attitudes, I do not wish for them to suffer on account of their decision to strike out on their own, smacks of cowardice to so do.

I wrote in response to a previous thread (added below) and I think that the comments contained therein would apply equally in this thread.

______________________________________________________________________________________________________________________________________________


Postby Schnauzer » Tue Mar 28, 2017 8:58 am

All this 'Doom and Gloom' may suit those who are prone to capitulate in the face of adversity BUT, perhaps a gentle reminder of the 'Bulldog Spirit' of the 'Brits' when the chips are down, might prompt the 'Prophets of Doom' to hold sway for a bit and give the 'Brexiteers' a little time to test the waters.

The biggest problem I can see (about the 'Bulldog Revival') is the fact that there are so many foreigners in the UK, the poor old 'Brits' may feel outnumbered and THAT could be the greatest obstacle to the regeneration needed to overcome future difficulties.

Do not glorify in the prospect of seeing a nation fall, as 'Aesop' illustrated in one of his famous fables (the sick Lion and the Wily Fox) "It's easy to laugh at fallen Majesty"......... there are those (myself included) that have no love for the 'Brits' on account of the great damage they have done to many nations over the years, yet I cannot lend myself to the hopeful opinions of those who seem to be glorifying the prospect of the hardships which may follow yet another 'Political Move' which could explode in the face of those whom (at present) are confident of success.

Time will tell, the 'Rats' are already making plans to 'Abandon Ship', I do not think it makes much difference according to the state of the world currently, it looks like the general populations of the world are in the shit whichever direction they sail off to,'Good Luck' to one and all. 8)
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Re: THE DEATH OF THE POUND IS IMMINENT

Postby miltiades » Thu Mar 30, 2017 6:23 am

No significant effect on sterling following the triggering of A50 yesterday. Stg remains at same levels having all ready reacted to the the inevitable.
One hopes that Stg will at least remain at steady levels over the next months or so.
An historic day yesterday one that would either be celebrated in the future or cursed .
I have always supported a united Europe and will continue doing so regardless of Brexit.
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Re: THE DEATH OF THE POUND IS IMMINENT

Postby Tim Drayton » Thu Mar 30, 2017 8:03 am

miltiades wrote:
I have always supported a united Europe and will continue doing so regardless of Brexit.


Hear, hear. One of my grandfathers fought in the First World War and my father in the Second World War. They were trying to kill Germans and the Germans were trying to kill them. I lived and worked in peace and security in Germany for three years in the 1980's without facing the slightest hostility. I know which Europe I want to live in. I will be one of the first to join the campaign to get Britain back into the EU if the disastrous day on which we leave comes.
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