Originally posted by HairyArsedBloke
View Post
- Visitors can check out the Forum FAQ by clicking this link. You have to register before you can post: click the REGISTER link above to proceed. To start viewing messages, select the forum that you want to visit from the selection below. View our Forum Privacy Policy.
- Want to receive the latest contracting news and advice straight to your inbox? Sign up to the ContractorUK newsletter here. Every sign up will also be entered into a draw to WIN £100 Amazon vouchers!
Reply to: Gbp
Collapse
You are not logged in or you do not have permission to access this page. This could be due to one of several reasons:
- You are not logged in. If you are already registered, fill in the form below to log in, or follow the "Sign Up" link to register a new account.
- You may not have sufficient privileges to access this page. Are you trying to edit someone else's post, access administrative features or some other privileged system?
- If you are trying to post, the administrator may have disabled your account, or it may be awaiting activation.
Logging in...
Previously on "Gbp"
Collapse
-
Originally posted by HairyArsedBloke View Post
Originally posted by d000hg View PostI think SAS is catching, that was as flimsy as one of his. I don't think you know owt. Predict £/$ at lunch time tomorrrow...
To one decimal place I guess that at 13:00 BST GBPUSD will be: 1.4
Normal caveats apply.
Leave a comment:
-
Originally posted by suityou01 View PostWell if you do your financial planning based on the drivel posted in here then lawd help you. But you're question is sound. I am of course not qualified to give any financial advice, but in my very humble opinion, we are indeed looking at the collapse of sterling.
My reasoning is this. When market liquidity dried up, we printed money. We are now no longer allowed to print any more, Mastricht says so. So we have stopped, and the most fragile economies are starting to squeak first (PIIGS) as the liquidity dries up again. Hence the trillion $ bailout from the IMF just to try and kick the can a little further down the road. But that is all it is. At some time the piper must be paid.
There are lies, damned lies and statistics as Disraeli told us. Well none so more than in the financial markets. It is possible to hide public debt. Greece managed it for example, but their private debt is less easy to hide for the reasons I mentioned earlier.
So if you take into account the increased Libor, reduced liquidity, fear of contagion, much awaited economic policy, the markets are waiting to see which way they go. I think the eurozone is teetering on the brink of collapse and the most vulnerable will go first. For a measure of the most vulnerable, look at PRIVATE debt to GDP ratio.
Leave a comment:
-
Originally posted by Gonzo View PostThe inflation figures from yesterday are creating uncertainty. If the BofE were to stick to its inflation killing remit it should be raising interest rates, but that would kill off the fragile recovery.
It is between a rock and a hard place, what will it do? Are we going to have more recession or inflation instead?
Leave a comment:
-
Originally posted by Gonzo View PostThe inflation figures from yesterday are creating uncertainty. If the BofE were to stick to its inflation killing remit it should be raising interest rates, but that would kill off the fragile recovery.
It is between a rock and a hard place, what will it do? Are we going to have more recession or inflation instead?
Leave a comment:
-
Originally posted by fullyautomatix View PostSY, I am not having a go at you. I started this thread specifically to see if any of the wizards on this forum had a clue why GBP was suddenly collapsing. We know why Euro collapsed. But why GBP now? What is looming? Any bank failure ? etc etc. I have a family to take care of and I believe in taking action if I know what is round the corner.
You mentioned a theory about private debt. I want to know if this was a determining factor. Why ? Because if that is actually a cause, then does that mean billions of private debt is to be repaid within a few days and we do not have money? I just need a cause to currency collapse. If we are headed Argentina way then I will take action to get out of GBP and into USD. Simple as that.
My reasoning is this. When market liquidity dried up, we printed money. We are now no longer allowed to print any more, Mastricht says so. So we have stopped, and the most fragile economies are starting to squeak first (PIIGS) as the liquidity dries up again. Hence the trillion $ bailout from the IMF just to try and kick the can a little further down the road. But that is all it is. At some time the piper must be paid.
There are lies, damned lies and statistics as Disraeli told us. Well none so more than in the financial markets. It is possible to hide public debt. Greece managed it for example, but their private debt is less easy to hide for the reasons I mentioned earlier.
So if you take into account the increased Libor, reduced liquidity, fear of contagion, much awaited economic policy, the markets are waiting to see which way they go. I think the eurozone is teetering on the brink of collapse and the most vulnerable will go first. For a measure of the most vulnerable, look at PRIVATE debt to GDP ratio.
Leave a comment:
-
Originally posted by fullyautomatix View PostSY, I am not having a go at you. I started this thread specifically to see if any of the wizards on this forum had a clue why GBP was suddenly collapsing. We know why Euro collapsed. But why GBP now? What is looming? Any bank failure ? etc etc. I have a family to take care of and I believe in taking action if I know what is round the corner.
It is between a rock and a hard place, what will it do? Are we going to have more recession or inflation instead?
Leave a comment:
-
Originally posted by fullyautomatix View PostSY, I am not having a go at you. I started this thread specifically to see if any of the wizards on this forum had a clue why GBP was suddenly collapsing. We know why Euro collapsed. But why GBP now? What is looming? Any bank failure ? etc etc. I have a family to take care of and I believe in taking action if I know what is round the corner.
You mentioned a theory about private debt. I want to know if this was a determining factor. Why ? Because if that is actually a cause, then does that mean billions of private debt is to be repaid within a few days and we do not have money? I just need a cause to currency collapse. If we are headed Argentina way then I will take action to get out of GBP and into USD. Simple as that.
FWIW I believe that much of the European economy (including parts of the UK) are fooked long term as we pay ourselves too much to do too little. The market is simply exposing this fact and this trend will continue.
From a practical point fo view, hedge all your bets - I have Swiss Franc and USD accounts as well as some gold holdings. My biggest asset in the UK is my house.
Leave a comment:
-
SY, I am not having a go at you. I started this thread specifically to see if any of the wizards on this forum had a clue why GBP was suddenly collapsing. We know why Euro collapsed. But why GBP now? What is looming? Any bank failure ? etc etc. I have a family to take care of and I believe in taking action if I know what is round the corner.
You mentioned a theory about private debt. I want to know if this was a determining factor. Why ? Because if that is actually a cause, then does that mean billions of private debt is to be repaid within a few days and we do not have money? I just need a cause to currency collapse. If we are headed Argentina way then I will take action to get out of GBP and into USD. Simple as that.
Leave a comment:
-
Originally posted by sasguru View PostWe will leave the congregation to judge.
Never in the history of CUK has such a tiny intellect generated so much noise.Originally posted by suityou01 View PostReally? ^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^
Leave a comment:
- Home
- News & Features
- First Timers
- IR35 / S660 / BN66
- Employee Benefit Trusts
- Agency Workers Regulations
- MSC Legislation
- Limited Companies
- Dividends
- Umbrella Company
- VAT / Flat Rate VAT
- Job News & Guides
- Money News & Guides
- Guide to Contracts
- Successful Contracting
- Contracting Overseas
- Contractor Calculators
- MVL
- Contractor Expenses
Advertisers
Contractor Services
CUK News
- Streamline Your Retirement with iSIPP: A Solution for Contractor Pensions Sep 1 09:13
- Making the most of pension lump sums: overview for contractors Sep 1 08:36
- Umbrella company tribunal cases are opening up; are your wages subject to unlawful deductions, too? Aug 31 08:38
- Contractors, relabelling 'labour' as 'services' to appear 'fully contracted out' won't dupe IR35 inspectors Aug 31 08:30
- How often does HMRC check tax returns? Aug 30 08:27
- Work-life balance as an IT contractor: 5 top tips from a tech recruiter Aug 30 08:20
- Autumn Statement 2023 tipped to prioritise mental health, in a boost for UK workplaces Aug 29 08:33
- Final reminder for contractors to respond to the umbrella consultation (closing today) Aug 29 08:09
- Top 5 most in demand cyber security contract roles Aug 25 08:38
- Changes to the right to request flexible working are incoming, but how will contractors be affected? Aug 24 08:25
Leave a comment: