Gets better this Brexit lark doesn’t it
https://inews.co.uk/news/brexit/bori...zWOsRTKwea3vUA
No downsides only sunlit uplands 😂😂😉
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Gets better this Brexit lark doesn’t it
https://inews.co.uk/news/brexit/bori...zWOsRTKwea3vUA
No downsides only sunlit uplands 😂😂😉
Wales gets 100, scotland gets 100, northern ireland gets 100 and everybody collectively gets 100 worth of bullshit propaganda shoved down their throats offline and online.
Maybe this is the kick up the arse that the Tory rebels need.
I think we might have reached a turning point with Boris.
People never liked the messages of doom from Project Fear or they'd have voted for them in the referrendum , and no one expected them to go on and on after the music stopped for three years.
It's great to hear a bit of optimism and self belief from a Prime Minister actually
A particularly manic-looking Adam Price there!
Great seeing Remoaners squirm as Halloween looms large.
Today Britain took the lead in the currency devaluation war to the bottom. Soon the usual crew will bemoan that a pint of piss in Benidorm will cost a few percent more.
Whilst the same dull ***** will be eulogising leaving the EU and unaware of the irony of living an ‘ex pat’ in an EU country.Quote:
Originally Posted by Organ Morgan.
Nobody in government will say it but Britain is winning the the race to devalue its currency versus competitors and is what the state wants. A weaker pound helps exports of course but imports will cost more and as Britain imports more goods from the EU than it exports to it we pay more for goods and for foreign hols. Overall it's a negative.
When I was a kid five bob (25 pence) was often referred to as a dollar by older people due to when a pound was worth 4 dollars. Today the same pound is worth 1.22.
I've never been quite clear on your logic, despite you repeating this once a week. Why is Britain secretly so keen to crash it's currency?Quote:
Originally Posted by Organ Morgan.
Because of the globalist communist banker conspiracyQuote:
Originally Posted by lardy
Do keep up
One way Britain is trashing its currency is by leaving the EU.
But Organ wants that.
I guess he likes pain.
Should Britain leave for real in a clean break there'd very likely be some short term pain before a glorious new era dawns.
It's called competitive devaluation. Your crash remark is a deliberate misinterpretation of what I wrote.Quote:
Originally Posted by lardy
As stated in another recent post, all's required to return the pound's value versus the euro and US dollar to what it was before the Brexit vote in 2016 is to normalise the BoE base rate... increase it from its current 0.75% to 2% which is where CPI inflation is at then watch those chasing yield pile in. They won't because they prefer to continue to punish savers and reward debtors.
Why is Britain so keen to competitively devalue its currency? That was my question.Quote:
Originally Posted by Organ Morgan.
Exports. Said so in post 7 of this thread.
Let me get this straight. You're saying that a country that has seen pretty much all its manufacturing industries shrink over the last few decades is purposely devaluing it's currency in order to help exports?Quote:
Originally Posted by Organ Morgan.
Well yes if the value is £616 billionQuote:
Originally Posted by lardy
Given that Lardy clearly referenced the export contribution of the UK's manufacturing industries what do you think the £616 billion value represents?Quote:
Originally Posted by life on mars
Our biggest export is fuel and Tthere is a manufacturing process for "synthetic fuel gases" (also known as "manufactured fuel gas", "manufactured gas" or simply "gas") typically consisted of the gasification of combustible materials, usually coal, but also wood and oil.Quote:
Originally Posted by cyril evans awaydays
I'm sorry lifeonmars, I don't understand what you're trying to say.
Probably need a dualingo course to best understand what you are talking about. In the meantime I understand that we had £616b of exports of goods and services worldwide in 2017 of which £339b were goods. As you seem to be pointing out about 12% (the largest element) were petroleum products (essentially residual reserves of North Sea oil).Quote:
Originally Posted by life on mars
Lardy's key point was that manufacturing (a proportion of the more general classification, goods) would be an odd basis on which to trigger the kind of currency devaluation we have seen since 2016.
Even more so when you look at the no deal scenario being touted by your latest heroes since St Theresa fled the scene. The overall benefit of our devalued currency to our manufacturing base is something along the lines of:
+ benefit of weaker £ - increased cost of any imported parts or raw materials - WTO tariffs applicable to importing country - WTO tariffs applicable on any imported parts or raw materials - increased customs/administration/border/transport delay costs.
Obviously this is just manufacturing. The services industry that along with non-manufactured goods makes up the rest of the £616b figure you bandied about has to manage the loss of financial passporting rights to the EU sector happening in 12 weeks time.
The Yanks embarked on an interest rate cut yesterday, its first for 10 years, in an attempt to weaken its currency but instead its value increased as the markets had expected and priced in a bigger cut. Trump had urged them to do more than they did and he didn't take long to tweet his anger and disappointment. All currencies are intrinsically worthless. The US dollar, due to its world reserve status, is the best smelling turd in the toilet bowl but one day after faith is lost in the others by way of hyperinflation it too will perish when a million of them will be required to purchase a tin of beans.
Germany endured the most infamous bout of hyperinflation that begun a century ago. Adam Fergusson's book - When Money Dies: The Nightmare of the Weimar Collapse - that documents the period is the most comprehensive. There's some handy tips within it for those seeking to protect their wealth. It can be read or downloaded for nowt here: http://socioline.ru/files/5/315/when%20money%20dies.pdf
I expect I'll get a similar nonsense reply that you'll refuse to elaborate on (for obvious reasons), but why is the US attempting to weaken its currency?Quote:
Originally Posted by Organ Morgan.
You may wish to refer to the remarks made by Federal Reserve Chairman which he made yesterday at a press conference for an insight into what their official reasoning is. You had my take in the post directly before yours.
Your views didn't include "why". Is it groundhog day?Quote:
Originally Posted by Organ Morgan.
Startling chart below that demonstrates how crazy and perilous the world's financial system is beyond the shop windows of stock markets in major economies many of which are at or near all-time highs thanks to all kinds of machinations such as stock buybacks (and ever more debt, of course) that's designed to give the misleading appearance that all is well. It shows there's now $14 trillion of negative yielding debt today when there was nil, zilch, nada, feck all just six years ago. It means as an example pension funds and the like purchasing German debt are paying 1.02 euros to get 1 euro in return. In other words they are guaranteed to lose money. Why? Because they are more concerned about the return of most of their money instead of getting a return on top of the money they've loaned.
https://kingworldnews.com/wp-content...r-I-812019.jpg
Remember when Theresa May told that nurse there was no magic money tree? It's amazing how much money has been found by the Conservative government lately and even more amazing how much has been wasted.
Traders Brace for Full-Blown Currency War as China's Yuan Sinks: https://www.bloomberg.com/news/artic...sinks-jyxvuznc
China joined in the "let's devalue our currency" fun and games overnight after Britain and the Yanks beat them to it last week. World trade is sinking fast as the big economies try to maintain their piece of an ever shrinking pie.
The Donald predictably hasn't taken kindly to China manipulating its currency in response to his country doing the same.
Donald J. Trump
✔
@realDonaldTrump
China dropped the price of their currency to an almost a historic low. It’s called “currency manipulation.” Are you listening Federal Reserve? This is a major violation which will greatly weaken China over time!
29.1K
1:12 PM - Aug 5, 2019
So according to Donny, the Chinese devaluation will greatly weaken it in the long term but the Fed should be considering interest rate reductions to follow suit?Quote:
Originally Posted by Organ Morgan.
Yeah, he's crackers, AKA cognitive dissonance in more polite circles. Tell me, Cyril, serious question - do you suspect, as I do, this spat is all scripted?
I would not be surprised if there was a little choreography in the background in that the bigger the crisis looks the shinier the knight's armour when he rides in on his white charger. It might suit China to make whatever relatively meaningless victory Trump claims at the end look like that if they think it's in their interests for him to serve a second term.Quote:
Originally Posted by Organ Morgan.
That said I don't see the win-win here. Trump has singled out China, (Pompeo is circling the globe threatening "allies" over trade and Huawei) to make his America First Stand. I get the sense that Xi, who has no fear of the fragility of democracy, is in a far stronger position in the next couple of years as Trump needs good economic metrics to have any chance of reelection. It makes me laugh when you see headlines of Chinese growth suffering because of a trade war when their burst bubble is still three times greater than the US currently and over four times the UK.
Ta for that. :thumbup:
I had to take to the settee to lie down with a wet flannel resting on my forehead at 6pm yesterday as so much was going down it was a case of information overload. Then when I recuperated the Yanks announced officially that the Chinese had become a currency manipulator, and I had to immediately resume my position on the settee as it one again proved too much for me to process.
This morning it's reported North Korea has lobbed two 'unidentified projectiles' into a nearby sea and China might be poised to send its army into Hong Kong to ensure the ructions on the streets that took place there yesterday aren't repeated.
Chinese leaders outlive (careerwise) their democratic counterparts, of course. They can afford to be patient and play the long game.Quote:
Originally Posted by cyril evans awaydays
Never mind I do 👍Quote:
Originally Posted by lardy
Even I got that one ,time to carefully trade your currencies, money to be had for the clever ones.Quote:
Originally Posted by City123
New Zealand, Thailand and India cut their interest rate today as the global economic shite storm gathered speed, and the ragged pound is down to 1.08 versus the euro.
The Yanks declaring China a currency manipulator two days back, which was the first time in 25 years they'd accused any competitor of such skulduggery, alerted the world that no end is in sight to their trade war and when the world's two biggest economies go toe-to-toe then everyone else feels the slowdown.
We have Boris close relationship with Donny .Quote:
Originally Posted by Organ Morgan.
He's on our side now and I can see the two blondes sorting stuff out.