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Reply to: Sell sterling
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Previously on "Sell sterling"
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Jim Rogers wouldn't be speaking from a position where it pays him for Sterling to drop, would he?
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Originally posted by tim123 View PostI would, but what the fook do I buy instead?
(Serious question).
tim
For example.
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Originally posted by tim123 View PostI would, but what the fook do I buy instead?
(Serious question).
tim
http://www.bloomberg.com/apps/news?p...FxA&refer=home
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That article is 2 months old. Since then Rodgers was right - Sterling has gone down. Question is: Does it have further to fall?
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Originally posted by BlasterBates View PostSell sterling
lJim Rogers on a Fooked UK
Looks like it might be wise to sell what sterling you have and leave the UK.
HTH
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Sell sterling
Sell sterling
The financial system here in the UK is maybe in even worse shape than the US," Jim Rogers said. "Look at Northern Rock, it got into trouble, there was a run on the bank, people were taking their money out and putting it in Barclays and Royal Bank of Scotland instead."
"Then the government stepped in and bailed out Northern Rock, so everybody started taking money out of other banks and putting it back into Northern Rock because it was the only totally secure bank. That weakened the other banks so the government had to come in and bail them out too - it's the same idiocy that prevailed in the US."
"The City of London is pretty much finished, he asserts, and if you're alarmed by the recent slump in sterling, you ain't seen nothing yet."
Looks like it might be wise to sell what sterling you have and leave the UK.
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