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yeniseri wrote:There are those who have planned for this and they will reap the rewards of a downturn of the local currency in the world marketplace. If I bet the sterling will stay the same or increase then I will lose money. If I see trending that indicates the sterling will go down and I place my money and it happens, I come out ahead. Large scale institutions can do this and benefit and it is legal.
Bombay tea, if you please
Sure, the hedge funds have done well (mainly thanks to their real time exchange algorithms - not something at the disposal of real people). Everyone else, not so much. But shorting Sterling right now when it's at a 30 year low... Would be a bold move.
KEND wrote:Didn't check the figures, sounded better in Italian Paolo Barnard: THE TRUTH ABOUT BREXIT - YouTube Video for the truth about brexit youtube▶ 5:59
grzegorz wrote:So first England votes to leave the EU and then they lose to Iceland. What's up England?
Economic collapse = winning football. Iceland is the new model to follow.
"It was already late. Night stood murkily over people, and no one else pronounced words; all that could be heard was a dog barking in some alien village---just as in olden times, as if it existed in a constant eternity." Andrey Platonov
grzegorz wrote:It's the result of good karma. Iceland sent their bankers who collapsed the economy to jail = one free goal over England.
+1
"It was already late. Night stood murkily over people, and no one else pronounced words; all that could be heard was a dog barking in some alien village---just as in olden times, as if it existed in a constant eternity." Andrey Platonov
Sterling is down to $1.32. For us that means travelling is 14% more expensive than a few days ago with the possibility of bigger drops. Domestic focused FTSE 250 is down 15%, global markets biggest drop since 2007 with 2$ trillion wiped off stocks worldwide.
Still, at least there's firm leadership with a plan in place to deal with this chaos - I expect everything will be sorted by tea-time!
And thanks Graham - that pretty much sums up my mood right now.
Matthew
Seems like out leadership don't actually want to work for a living. It was plane sailing when the EU were directing policy, now the call to be an actual politician comes and they all run for the hills. Highlights by and large, what a pathetic bunch they are ... yet i keep hearing how THEY should have been the ones to make this decision?
I get the distinct impression that the people so hurt are glued to the ultra biased news networks and not seeing through their fearful stories. For instance listen to what Osbourne ACTUALLY says here.
Things like ... "Ready .... Position of strength ....TODAY Britain has the strongest major advanced economy in the world .... We are equipped for whatever happens"
Are glossed over in favor of the comments on uncertainty etc. But they shouldn't be underestimated. Why isnt the story, 'Osbourne said that although we faced uncertain times he said we are prepared for them, are strong and well equipped so businesses should not be concerned for Britains Future'. ?? I think it should be plainly obvious to everyone that ratings are more important than facts.
I saw a news piece the other day, with small businesses who say 'I am unsure of what will happen' and the story was claiming that, somehow, this is a massive problem. None of them had felt ANY impact from the brexit vote, NONE of them, they were largely local businesses with the one multinational. This companies director saying he was happy about the vote ... so instead of questioning him further, they went to one of his staff who was an IN campaigner and interviewed her??? It floored me!!
As someone that has run a small business for 12 years, who is a part of the local business circle, organizations and communities, but who also works with multinationals that are either headed in Europe or closely linked .... it currently seems to be .. life as usual. We are working with a German pharmaceuticals company and the comment by the UK director to me yesterday when i asked if the vote had effected the project was "No not at all, this isn't going to impact us so carry on". Another client who imports product from Germany and has close ties to the German market said there is no change for him either. Both of these businesses are multi million pound operations.
Ref grahams cute picture and to quote him .. that's the most Whiny, divisive and intolerant thing i have read for a while. The original was a message of hope and commitment to unity (not from any particular side or prefernce of view) ... that picture is one of division, intolerance, laying of blame and unjustified self pity.
For all the moral high ground the In voters have claimed in the last week, and continue to do so, they sure do draw intellectually dishonest and morally questionable conclusions.
I have pussy footed around it because I still felt that most of these people were my friends ... They themselves seem to think otherwise. But when they post trash like that directly linking me to enabling Racism and division, but fail to see how their own actions enable division or separation its a bit like the straw that breaks the camels back.
So Yeh, you precious flowers take all the time you need to bitch, moan, believe in your demise and generally have a hissy fit at the 'other' ... but all the time you do that instead of being constructive, creative and resolute you actually make things worse .. for yourselves!
Last edited by middleway on Tue Jun 28, 2016 1:29 am, edited 5 times in total.
"I am not servant to the method, the method is servant to me" Me
I'm with you Chris... My firm manufactures in a European country and our customers sell across Europe. My one and only reason for voting remain was to protect my income. Purely selfish in that regard, the EU is flawed and too stubborn. I hope that it's the Greeks next, the way they treated Greece and Cyprus was a disgrace. They even raided Cypriot bank accounts to get their pound of flesh. We're only in it together on strict conditions, a common currency will never be able to help poorer nations - they need to have access to a weaker currency to recover themselves rather than sit there having the life sucked out of them. Monetary union without fiscal union was always a disaster waiting to happen.
My wife is Lithuanian, the minority of my friends are British and I am from a family that immigrated here. Racism doesn't even come into it. I also find the thinking that we can't do anything good or have anything good now is crazy. What's wrong with the Swiss model anyway ?
It's like the end of the world.. it's both funny and depressing to see people split this way over politics. Instead of people being scornful over inevitable nationalism, they should try to understand where it's coming from. Much of the country is dissatisfied, it was the working classes that had their say, now it's up to our politicians to put right what went wrong for many people here. It's not that immigration is bad per se, we just have to be seen to be in control of it.
You know Graham, the rest of the Global economy is facing the same kind of issues. Markets are subject to sentiment and volatility. Uncertainty will do that. Markets are often a poor reflection of economics most of the time, particularly when they are so spectacularly manipulated by Central Banks.
Central banks, now there's one hell of a family business!
Last edited by cloudz on Tue Jun 28, 2016 3:58 am, edited 1 time in total.
Well, one thing is quite obvious. Whatever the economic result, it has been socially divisive for Britons. First, ONLY Britons can solve that. And it seems they can't because ....?
It's true that nothing has changed, but the uncertainty exists because no one knows what will change.
"A man is rich when he has time and freewill. How he chooses to invest both will determine the return on his investment."
Steve James wrote: It's true that nothing has changed, but the uncertainty exists because no one knows what will change.
Yep, that has been one of my points - what will really change? Who owns most of the UK's infrastructure? People don't even know that Japanese companies run many UK toll roads for example. Most times through this whole thing I've felt like a peasant ploughing his fields while two barons fight over who gets all the grain
"Remember, if your life seems dull and boring - it is" Derek & Clive www.systemauk.com
Steve James wrote:. First, ONLY Britons can solve that. And it seems they can't because ....?
It's true that nothing has changed, but the uncertainty exists because no one knows what will change.
People never really like or welcome this scale of upheaval, myself included. The status quo was attractive to me, precisely because of that. It's not so much 'change' per se as yet, as Rob notes, but changes may well come and should be expected at this point. Some people are just better at handling fear (of the unknown) than others.
We can solve this, it will just take time and a will to be together. The first thing is to let all the histrionics out and let the dust settle properly. The madness of crowds is well and truly in play right now. The leave side is faced with a brave new world to order, and the remain side is still crying in its milk.. The sooner we can find a way to pull together the better. If we don't, well we always reap what we sow anyway, nothing new there.
Last edited by cloudz on Tue Jun 28, 2016 5:59 am, edited 1 time in total.
Well now people have got used to the fact the UK is OUT, who will be the next PM. There is IMHO a real lack of leaders among the candidates, making even Cameron look good. Anyway here is how it lines up
Boris Johnson - 4/5 favourite Has a lot of haters but is eminently qualified The de facto leader of the Leave campaign has long been believed to have his eye on Number 10. He has a popularity with the public that consistently outperforms his party - but does he have the support within the Conservatives? Theresa May - 3/1 Queen of the surveillance state UGH The Home Secretary has kept a low profile during the EU Referendum, meaning she won't have been as damaged by the result as Mr Cameron and Mr Osborne. Michael Gove - 5/1 had run ins with the teachers, seems to be content to follow Boris Another leading Leave campaigner, the Justice Secretary is popular in the party, but does he have support across the country? Andrea Leadsom - 10/1 viable candidate but has some baggage relating to offshore accounts A candidate whose stock has risen sharply due to her impressive performances for Vote Leave. Not a well-known politician, but there have been bigger shocks than this before. George Osborne - 12/1 NO NO NO Not long ago, he was odds-on to be the next Prime Minister, but a series of mis-steps has really dented his chances. Priti Patel - 16/1 Worked for big tobacco, dismissive of brit workers-outsider Another big name from the Leave campaign, Patel is an outside bet for the leadership race. Liam Fox - 25/1 Scots, had spell at MOD, seems to court controversy Dr Fox, a former chairman of the Conservative Party, is another whose stock has rocketed after being heavily involved in the Leave campaign. And there are recent examples of a veteran MP being voted in as leader of a party. Nicky Morgan - 33/1 The Education Secretary is an outsider at 33/1, but there are already indications that she will run in the leadership contest. Jeremy Hunt - 33/1 A big name politician, but his standing with the public following the Junior Doctors strikes is likely to leave him on the outside. Jacob Rees-Mogg - 33/1 TOO POSH, ANOTHER ETONIAN Mr Rees-Mogg is extremely popular among the grassroots for his quirky comments and TV appearances - not dissimilar to Boris. Could he sneak up on the outside?
Europe exports 10 times more to the UK then the UK exports to Europe
