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WTF Pound Sterling?

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mentalboy
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PostPosted: 22:13 - 15 Jan 2017    Post subject: WTF Pound Sterling? Reply with quote

1.19 pounds to the dollar, wtf happened this weekend?
If it keeps going in that fashion it'll hit the historical lows of the crash of the mid eighties and seems to be descending at a comparable rate!
I might be able to afford to pay for a trip to the motherland this summer with small change if it keeps this up for any length of time!!
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Ste
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PostPosted: 22:49 - 15 Jan 2017    Post subject: Re: WTF Pound Sterling? Reply with quote

mentalboy wrote:
wtf happened this weekend?

Blame Trump and Brexit.

But don't worry, on Friday there's Emperor Trump's inauguration and then everything will be great again. Dance!

Praise Kek.
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RhynoCZ
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PostPosted: 23:02 - 15 Jan 2017    Post subject: Re: WTF Pound Sterling? Reply with quote

Mister Ste, do you plan on making Scottish people build a wall between the England and Scotland, once your country is liberated from the Eurocratic coalition of evil?

Ste for the British Prime Minister, in 2020. Clapping
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grr666
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PostPosted: 23:05 - 15 Jan 2017    Post subject: Reply with quote

In reaction to May discussing Britain leaving the single market during an interview.
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mentalboy
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PostPosted: 23:39 - 15 Jan 2017    Post subject: Reply with quote

mpd72 wrote:


Makes our exports to the US better value though. Considering they are out biggest export partner, this may not be a bad thing.


I wish that were reflected in the cost of imported goods at this end!
Just last week I posted in the 'what grinds my gears' thread on this very subject. My local supermarket sells bottled Newcastle Brown in twelve packs (yes, I know it's not the greatest brown ale the UK has to offer but beggars/choosers etc) that has risen by six bucks per pack over the last six months.
If I were a Brit on holiday and applying the exchange rates of the day that'd be a twofold increase from ten quid to twenty.
Presumably internal costs are rising which is driving up the export costs before it leaves home shores. If prices are pushed up much more I shall be forced to buy local craft beers and give up on imported tipples.
The same applies to buying imported Stella Artois so it's not just a British export issue.
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stinkwheel
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PostPosted: 23:41 - 15 Jan 2017    Post subject: Reply with quote

mentalboy wrote:
.
The same applies to buying imported Stella Artois so it's not just a British export issue.


Pretty sure a fair bit of Stella's made in Luton.
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Ste
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PostPosted: 23:43 - 15 Jan 2017    Post subject: Reply with quote

The success of Trump and his wall are very important as once everyone sees how effective that's been at keeping out undesirables, it'll be easier to sell the idea of rebuilding Hadrian's Wall to the people of England. Thumbs Up

One way or another, the Scotch will pay for it and Nicola Sturgeon will be personally responsible for paying the majority of the bill.

Vote for me and I'll deliver what you're wanting.

Bike thieves will face deportation to Syria. Adam Aarons can go to Iran. That guy who's responsible for all the kitchen spam can be sent to the moon. Online petitions will be ban hammered. Police priorities will be changed so that stuff you actually care about gets addressed. A&E departments will be for accidents and or emergencies only and so waiting times will be greatly reduced.

Enforcing the laws about it being illegal to serve someone who's already drunk could be a bit of a laugh. Smoking ban will be repealed and replaced with pubs having the choice between allowing smoking and everything continuing as it was or to be non smoking venues who pay a lower rate of tax on alcohols.

People will have to pass an intelligence test to be allowed an internets connection.

Brexit means brexit, we'll be leaving the EU with immediate effect.

Oh yes... vote for me and all of this and more will become reality!! Mr. Green
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Ste
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PostPosted: 23:47 - 15 Jan 2017    Post subject: Re: WTF Pound Sterling? Reply with quote

mpd72 wrote:
Who will fund Scotland?

Not our problem.

They're also going to need a currency and that's also not our problem.

Maybe Salmond and Sturgeon have got some ideas. Laughing
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mentalboy
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PostPosted: 23:53 - 15 Jan 2017    Post subject: Reply with quote

stinkwheel wrote:
mentalboy wrote:
.
The same applies to buying imported Stella Artois so it's not just a British export issue.


Pretty sure a fair bit of Stella's made in Luton.


That may well be but on this side of the pond it's imported from Belgium (to Missouri). It strikes me as fairly unlikely that Stella made in Luton would be shipped to Belgium and then imported to the US.

The bottles definitely say 'imported' not 'made under license' (unlike Kit Kats which are a Herschey's interpretation of the real thing and taste like vomit Crying or Very sad )
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M.C
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PostPosted: 00:14 - 16 Jan 2017    Post subject: Reply with quote

The city have to recoup more losses from their incorrect gamble on Brexit?
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mentalboy
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PostPosted: 00:20 - 16 Jan 2017    Post subject: Reply with quote

grr666 wrote:
In reaction to May discussing Britain leaving the single market during an interview.


Do you mean the speech she's due to give this coming week or did I miss one? If it's in anticipation it seems a bit of a dive or have investors had their heads buried so deep in the sand and not been following the recent dialogue from all parts of Europe that suggest a 'hard' Brexit is going to be the only option open?

Edit: Even BBC World news has been a bit thin on the ground with Brexit news over this side of the pond as the US transitions towards Trumpton.
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thx1138
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PostPosted: 00:37 - 16 Jan 2017    Post subject: Reply with quote

stinkwheel wrote:
mentalboy wrote:
.
The same applies to buying imported Stella Artois so it's not just a British export issue.


Pretty sure a fair bit of Stella's made in Luton.


Bedford.
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RhynoCZ
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PostPosted: 00:48 - 16 Jan 2017    Post subject: Re: WTF Pound Sterling? Reply with quote

mpd72 wrote:
RhynoCZ wrote:
Mister Ste, do you plan on making Scottish people build a wall between the England and Scotland, once your country is liberated from the Eurocratic coalition of evil?

Ste for the British Prime Minister, in 2020. Clapping

You've fallen for Stugeon's trap. Scotland is part of the UK, it does not decide if it's in or out of the EU, just as Wales doesn't.


I'm just making stupid jokes. I've been a BCF member almost 5 years now, so you should know me better, as I might be the only Slav here. Definitely the only one with a mispelled word and letters CZ in the nickname, referring to my home country as the ''Land of beer''. Razz

The question is, IF or rather WHEN Ste wins, who's gonna claim the oil/gas in the Scottish waters and will there still be enough to help the Scottish economy? I do know they are already running out of the ''easily accesible'' oil and even though there is still more oil to drill for, they possibly won't be able to get to it at a reasonable cost. At least not with the current technology.

So, independent Scotland, a European oil superpower or a poor country of the North?

Edit: Thinking of it, Scotland is a place of very high velocity winds and strong sea currents. They could harvest that, but that would require a huge initial investment. I mean, we all are going to need electricity, we can't live without it anymore. Elon Musk, with his Tesla fun business, could invest in the Scottish green energy, milking the ''go green'' tax rebates. Thinking
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M.C
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PostPosted: 01:27 - 16 Jan 2017    Post subject: Re: WTF Pound Sterling? Reply with quote

RhynoCZ wrote:
So, independent Scotland, a European oil superpower or a poor country of the North?

Edit: Thinking of it, Scotland is a place of very high velocity winds and strong sea currents. They could harvest that, but that would require a huge initial investment. I mean, we all are going to need electricity, we can't live without it anymore. Elon Musk, with his Tesla fun business, could invest in the Scottish green energy, milking the ''go green'' tax rebates. Thinking

They'd be in the same situation with an uncertain future. I believe Scotland basically pays for itself, and they get perks such as free prescriptions (which Wales also has) and free university education*, neither of which we get in England.

However going forward with a small population who let's face it, aren't the most industrious people it would end up a poor country. Not that a certain lady would admit that, it's all about popularity now, even if it's based on a complete fantasy.

P.S. they've finally realised the potential of tidal power... on an island and a project looks like it's going to go ahead in Wales (with more to potentially follow).

* Due to the unique way the EU works those from Europe also get a free education in Scotchland, whilst us mongs from England/Wales have to pay.
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Jewlio Rides Again LLB
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PostPosted: 01:41 - 16 Jan 2017    Post subject: Reply with quote

The money used to pay for the free prescriptions is taken from elsewhere in their budgets though. Sure I read something about waiting times or whatever...
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Rob Fzs
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PostPosted: 09:43 - 16 Jan 2017    Post subject: Reply with quote

mentalboy wrote:
grr666 wrote:
In reaction to May discussing Britain leaving the single market during an interview.


Do you mean the speech she's due to give this coming week or did I miss one? If it's in anticipation it seems a bit of a dive or have investors had their heads buried so deep in the sand and not been following the recent dialogue from all parts of Europe that suggest a 'hard' Brexit is going to be the only option open?

Edit: Even BBC World news has been a bit thin on the ground with Brexit news over this side of the pond as the US transitions towards Trumpton.


People have been lining up to short the pound ever since a few leaks came from her speech, i'll assume it will settle abit after the full speech comes out tomorrow.

Hard brexit is what it'l be if the eu put's ideology before economics and mrs may is not messing about.
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grr666
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PostPosted: 09:47 - 16 Jan 2017    Post subject: Reply with quote

mentalboy wrote:

Do you mean the speech she's due to give this coming week or did I miss one? If it's in anticipation it seems a bit of a dive or have investors had their heads buried so deep in the sand and not been following the recent dialogue from all parts of Europe that suggest a 'hard' Brexit is going to be the only option open?


https://www.independent.co.uk/news/business/news/pound-sterling-value-brexit-leaving-single-market-low-theresa-may-interview-a7516766.html
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Rogerborg
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PostPosted: 09:49 - 16 Jan 2017    Post subject: Re: WTF Pound Sterling? Reply with quote

Ste wrote:
Maybe Salmond and Sturgeon have got some ideas. Laughing

Oil bet they do.

Once again for luck: this long overdue correction to the chronically over-valued Sterling is great news for those of us in the export business. I'm practically third world labour as it is. If Sharia follows through on her leaked "Hard Brexit" speech this week (even though she doesn't mean it), I'll have Bangalorians outsourcing work to me. Dance!
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Rogerborg
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PostPosted: 14:04 - 16 Jan 2017    Post subject: Reply with quote

OMG Sterling dropped against the dollar again today!!! and then rebounded.

But it dropped against the Euro as well!!! and then rebounded.

Pity, really, I guess we'll have to wait for the actual Brexit-means-Brexit speech to get a really solid correction. Drooling
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mentalboy
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PostPosted: 02:28 - 17 Jan 2017    Post subject: Reply with quote

mpd72 wrote:
mentalboy wrote:

That may well be but on this side of the pond it's imported from Belgium (to Missouri). It strikes me as fairly unlikely that Stella made in Luton would be shipped to Belgium and then imported to the US.

The bottles definitely say 'imported' not 'made under license' (unlike Kit Kats which are a Herschey's interpretation of the real thing and taste like vomit Crying or Very sad )


The problem is that people are concentrating on the Pound falling against the Dollar, where in fact part of the change is the Dollar climbing against all major currencies.

The Euro has fallen 10% against the Dollar in the last couple of months too. It's just convenient to blame Brexit for everything.


I tend to concentrate on Sterling/Dollar because it has a direct bearing on my personal circumstances, I'm not blaming Brexit and I won't be surprised if the Dollar will take a bit of a whack in the near future.
Some might shout about a long overdue correction but I've gotten used to the benefits of a strong pound over the last forty years of imposing myself upon Johnny Foreigner. Now that my situation is reversed it suits me quite well but it doesn't seem quite right seeing more than a quick dip resulting in less than a dollar and a half to the pound.

Mr Borg - is it just intellectual property that you export or do you ship out goods? I'm quite curious to know why important stuff like exported beer is rising dramatically despite the state of the Pound and can only figure that the cost of goods has risen fairly steeply over the past twelve months in the UK.
I haven't noticed significant increases in US produced goods over the last three years. The only other imported stuff I tend to buy is cheese and that's always been bloody extortionate here so I don't notice increases.
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Commuter_Tim
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PostPosted: 03:25 - 17 Jan 2017    Post subject: Reply with quote

Ste wrote:
...People will have to pass an intelligence test to be allowed an internets connection...

In other news: BCF CLOSURE DUE TO INACTIVITY.
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