Reply to: QE: Another £25 billion

[BoredBloke]

What does he know - the pound is still up even after this announcement. The Bank of England has decided to print 25bln of the buggers and it's made it worth more. Why not print 250bln and make it worth a lot more

[Andy2]

Just read a newspaper article by an american Dan Eric
. THE BRITISH POUND:
The United Kingdom either wisely or unwisely decided not to convert to the Euro. Only time will tell. At any rate, if you are alarmed at the rate the United States is taking on debt, the Brits have us beat in that department hands down. The British pound, I think, is one of the most vulnerable currencies out there. Faced with a housing bubble to match our own and then some, Britain is the pinnacle of the "Nanny States". Socialized to the fullest yet having a connected cronyist system that mirror's America's, is a recipe for social unrest disaster. The UK has their own major ongoing banking crisis and there is probably no cure but total default.

[TimberWolf]

Not after yesterday's day trading no.

Ah well it is just funny money anyway. I took my cash to the BoE - the stuff which says "I promise to pay the bearer on demand the sum of" hoping for gold in exchange but they just told me to feck off.

[DimPrawn]

So does everyone feel £400 better off?

Not after yesterday's day trading no.

[TimberWolf]

So does everyone feel £400 better off?

[DiscoStu]

So will that £25 billion tide us over until the election?

No. Maybe the end of next week.

[TimberWolf]

So will that £25 billion tide us over until the election?

[BoredBloke]

Yes dear. Which is why prices are rising, and will do sharply from now on...

Oi who are you calling dear.

[ThomasSoerensen]

so I get to buy cheap x-mas presents from amazon.co.uk again this year. I think I like this Brown chap.

Last year it was much cheaper to buy the same book in UK amazon compared to German amazon - even after shipping costs.

BOOMED

[ThomasSoerensen]

India paid $6.7 billion apparently all in hard currency.

That's an awful lot of suitcases...

what hard currency would that be?

Are there any "hard" fiat currencies left?

or did they pay in vouchers for IT outsourcing?

[TimberWolf]

Yes, but wages (of the very poor at least) are falling faster than Brown's credibility

[threaded]

It was lower in the middle of last month. Now it's about 1.115 vs the Euro and 1.6583 vs the $. Its 52 week low against the $ was 1.375 and 1.02490 vs the Euro - so not even close to bottom actually!

Yes dear. Which is why prices are rising, and will do sharply from now on...

[Paddy]

http://library.duke.edu/digitalcolle...W0007-lrg.jpeg

The true private sector (not national private monopolies) have done well as prices of goods and services have actually fallen. The irony is that today’s inflation is caused by the pubic sector eg: Council Tax, Government spending and so-called public transport.

[BoredBloke]

too late now. its already at the bottom.
how low can it go ?

It was lower in the middle of last month. Now it's about 1.115 vs the Euro and 1.6583 vs the $. Its 52 week low against the $ was 1.375 and 1.02490 vs the Euro - so not even close to bottom actually!

[threaded]

I blame it on maths education in the comprehensive system. You see, it can fall forever and still not reach the bottom.