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The pound is down and it makes BBC Remain headlines.
The 453 days it has been stronger was not newsworthy. What a total joke they are.
In English
Its never returned to pre-referendum levelsOriginally Posted by AlwaysAway2
Agreed. Market rate about 1.34 to the £ before the referendum. Rarely above 1.2 since. Tourist rate heading for £/ parity = expensive Eurozone holidays.
Indeed, we've had to write down £26million in component stock value over the last 30 months, as well as making 150 people redundant.
Yep. I have been buying Lloyd’s bank shares for nearly a decade. Only £25 a month but it slowly builds. Pre Brexit they were slowly recovering. For the past three years they have dropped in price.
We haven’t even left the EU yet but already it’s causing damage.
I could tell by the nonsensical Sun like headline who created this tread.
Hes got form for outraged over nonsense.
I was in Malta when the result was announced and I'm pretty sure the rate was slightly higher than 1.34. 1.39 possibly.
453 days where it looks like the UK is going to leave the EU with a deal negotiated by Theresa May, 1 day where it seems the UK is prepared to crash out with no deal and a Prime Minister still falsely believing in Gatt 24 (or deliberately stating incorrect information). More deal or no deal rather than leave or remain?
How can something be newsworthy when it's dependant on something that will happen in the future? Did you expect yesterday's news to be "Pound still remains less than pre Brexit-vote levels after 453 days, but is stronger today that it will be tomorrow"?
Doesn't reporting that the pound dropped in value today tell you that it was stronger yesterday?
A small price to pay for our SovereigntyIndeed, we've had to write down £26million in component stock value over the last 30 months, as well as making 150 people redundant.
2015 you could get 1.4/£ tourist rate. Wish I bought at that rate. More recently we bought at 1.1268 through TravelFX. Even that rate looks like a good deal, now.
Is that the sovereignty both Tory leadership candidates are prepared to quash to get Brexit over the line?
No it wasn't.
I booked euros with Sainsbury's bank about a month before the referendum. I did so because they offered cancellation up to 24 hours before I needed them. I did so thinking that, if the rate did go up, I could cancel and buy again, but had the security that if the pound plummeted as a result of the referendum I could still get a reasonable rate.
The day following the referendum, the rate had dropped below 1.2. I was reading about it on my Facebook feed recently as I posted about it. Pro Brexit supporters talking bollocks that it was just a normal ebb and flow of currency.
I remember working out that I saved around £90 by buying when I did, not after the referendum, though I can't remember how much I actually converted. The guy at Sainsbury's said they had around 3 months business in 1 day the day before the referendum.
1.34 ish was the market rate. Tourist rate would have been lower. The graph of £/ over the last 5 years clearly shows the £ dropped after the referendum and has never recovered since.
When has it been stronger?
Do you think the BBC is backing remain?
Sounds like less people going to want to go abroad so staying in this country putting their money into the British economy rather than the Euro abyss.
Also encourages tourism into Britain bringing in Euros/Dollar/Yen etc.
Also makes British manufactured goods more attractive to foreign buyers boosting exports and making imports more expensive encouraging companies to source goods in this country.
Seems like a decent upside to me.
How long will all that take to filter down to our level?
Those are positives but a weak currency is not desirable overall.
It's what's been known for years as a currency race to the bottom with governments desperately trying to devalue their ones against others, while simultaneously robbing savers of interest income, especially their main rivals. The pound could easily revert back to its pre-2016 exchange rate value versus the euro by increasing the BoE base rate from its current 0.75% to 2% which is what UK CPI inflation is running at.
All currencies have lost 96%-98% of their purchasing power during the past century by being eroded through the inflation tax, most of it since 1971, because every one of them are backed by precisely nothing, and nothing is their true intrinsic value.
It's telling that the BoE base rate has been stuck under 1% for the past 10 years but had never been below 2% at any time before that since the Bank of England's creation in 1694.
Why would you want to go to Barcelona when you can go to sunny Skegness?
We also have to actually make stuff for any of this to work. We don't.
Well that's the idea.
The EU effectively allocated economic activity in different member countries in order to make it difficult for any one country to manage on its own.
Germany got the engineering, France got agriculture and we're supposed to cut each other's hair and deliver pizzas to each other.
We've lost the confidence and ability to do a lot of stuff during the EU period, but it can soon return. What can immediately happen is that Agriculture and the fishing industries can flourish without the constraints of EU policies, as will the secondary economic activities around them.
Let's not forget that our own home market for goods is a considerable one and the sooner we re establish manufacturing the sooner we can profit from that, and at the same time slow the outward flow of money from our economy.
The very first thing we should do after leaving is to encourage people to buy British and help British industry to fulfill that demand.
If the German led power bloc known as the EU want to exclude themselves from a marketplace of sixty million people in their latest historical attempt to dominate Europe , well then so be it, and we must exploit that market place.
Our current politicians are weak and unused to the running of an independent nation so they doubt their ability to do so, and conversely the Germans have forgotten apparently that we might occasionally fail to cringe before their attempts to bully us into submission.
So where are all the factories and infrastructure going to pop up from on November 1st?
Why did manufacturing etc leave our shores? I'm not so sure it was part of an EU master plan, more that other countries (and not EU countries) made stuff cheaper and consumers like cheaper things.
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