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there's no way that 1.48 to the sterling is a fair value for the dollar. Im sure it will fall!
Originally posted by pause4thought
Mind you, I don't expect any currency is anywhere near 'safe' bearing in mind the prevailing economic conditions. Even the Euro could tank.
Originally posted by LiquidMirage
I think the only thing that is truly safe is precious metals. No fiat currency is safe because it is fundamentally worthless.
Thats my opinion anyway...
'Lord Mandelson was at the centre of a row last night over 'secret' plans to ditch the pound after an explosive claim that Britain is ready to join the euro. The European Commission president said the UK was 'closer than ever before' to signing up to the single currency. Jose Manuel Barroso said he had held private conversations with 'the people who count in Britain' and knew that they were ready to move into the euro-zone.'
Originally posted by Cythraul
I'm wondering if someone more attuned to current world/British economics can help me understand why the British pound has sunk to such a low!?
It's causing me some concern, Not because it's so weak but because it's so weak compared to the dollar and euro. We're all going through this economic recession, and if ATS is to be used as any kind of marker, the situation in America is at least as bad as here in Britain.
For those who don't know, a pound today buys $1.45 or €1.25. A matter of just two years ago, it was closer to $1.80 or €1.50. This is a huge drop. And what's perplexing me more than anything is why no-one seems to be talking about it.
I have my theories:- This is carefully designed to force us - by economic necessity - into the euro. So the strength of the euro I understand - it is vital for the interests of Globalism and one-world government. But the strength of the dollar (in relation to the pound) I just don't get. I was sure both countries (UK and the US) were destined for the same rough-ride.
Originally posted by Jim Scott
Be happy the pound is sinking a little. It will increase your exports. It is a good thing for jobs in England.