Know your place woman.
Brexit related judicial reviews: Supreme Court | Judgment: Prorogation was unlawful
- Thread starter owlo
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How disgusting that she had to work a ‘normal’ job once when she was younger. Must be one of those remainer elite....Know your place woman.
That cnut even had the audacity to write his own name out in big letters.
What a knob.
I think that's the US$, not the €, the € has never been that high.
It reached €1.75 in 2000 when the Euro was a new currency and the € gained against most currencies incuding the US$.
Then it settled around the €1.50 mark until the financial crash in 2008 which destroyed the £ rate. Since the crash it had gradually picked up till it reached the low €1.40s in 2015 and boom! - Brexit came along
Yes....I apologise. I was looking at the wrong file for the first Sterling <> Euro trades.
Stg opened at around 1.61 to the € on 01.01.2002 and closed after the first weeks' trading at 1.6172.
Still....A drop of approaching 30%
The idea that Stg was ' strong and stable ' prior to the Refendum is demonstrably not true, however much that would fit the narrative that prior to the Referendum, sterling's value didn't fall, but that it was the value of the Euro which increased. Whereas, we're told to believe that since the referendum, sterling's value has crashed and it's not been a continuation of the Euro increasing in value as it had for the previous 15 years.
Sterling dipped on the result of the referendum, three years ago, and has been more or less stable between 1.10 and 1.17 against the Euro since.
https://www.`.com/bank-of-england-spot/historical-spot-exchange-rates/gbp/GBP-to-EUR
I know that doesn't suit the narrative that sterling is crashing ( as in the present tense ) but that's the reality.
The reality is my post above yours, sorry.
You don't have any idea what you're talking about.
The reality is that you're talking shit, which I guess is why you're ignoring the posts that prove you're talking shit.
That cnut even had the audacity to write his own name out in big letters.
What a knob.
Yeah. Never mind bar maid, I'd sooner mop the floor at a peep show than admit working for the Mail.
I won't disagree.
Other than to say that Sterling's gains against the euro in 2015 were against the backdrop of a possible Greek default ; the Irish banking crisis ; the Italian banking crisis ; and crazy unemployment levels in Southern Europe.
The value of sterling didn't climb - the value of the euro Euro fell
I don't imagine your average frothing at the mouth Brexiter who thinks everyone and his dog is conspiring to block Brexit indulges in much self-reflection. They remind me of this quote:
You would have to compare Sterling against other currencies, well the dollar to be fair, as well. If Sterling moves against both it's Sterling, if only one it's more complicated.
For your point to be correct the pound would have to be stable against other currencies and only falling relative to the euro:
AUS$: before $2.17 now $1.83, a drop of 15.7%
US$: before $1.53 now $1.24, a drop of 19%
Euro: before €1.54 now €1.13 a drop of 27%
Yen: before ¥184 now ¥133 a drop of 28%
(sep 15 baseline, before Brexit was really even considered a possibility of so no risk pricing)
So it has fallen more against the € than against the AUS$ or US$, but less than against the ¥, suggesting that the ¥ and € have strengthened relative to the US$ and AUS$, but the major contributory factor is obviously the weakening of the £, you don't need strong maths skills to see that.
@Jippy @T00lsh3d @DavidDeSchmikes Thats a decent article.
@Paul the Wolf difficult to argue that gbp was severely overvalued in 2015
@Paul the Wolf difficult to argue that gbp was severely overvalued in 2015
Decent article?
EDIT: 2015 looks fairly range-bound within historic norms tbh, neither massively over or undervalued.
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Yes, if you look past the silly title. What do you dislike about it?
(It’s actually so decent it’s been doing the rounds on the legal Twitter sphere for the past 24 hours or so with quite some praise. Apparently virgin train WiFi doesn’t extend to twitter content so I can’t link.)
Which article should have been my question tbh.
Know your place woman.
This one.
I'll give it a read later- didn't get beyond headline and standfirst tbh.
No, me neither. Will read later
I did a page or two back. Also worth noting that the Pound lost against just about every single currency on the planet then including the currency which was bottom of the then league table the Nigerian Naira.
People trying to deny that Brexit wasn't responsible for its collapse since November 2015 is beyond belief.
What is the correct value of Sterling, its value is how the market values it. When I moved to France in 2007 it was €1.52, it hasn't been that high since.
The UK economy was recovering faster after the crash than that of the EU and Brexit put a stop to that.
It could be due to other factors but I haven't seen anything to convince me that it is, so I agree it's due mostly to Brexit.
It will be interesting to see where the pound goes after Brexit, people assume it will dive lower but I'm not so sure. With markets it's the uncertainty seems to be a major influence, only on top of the underlying fundamentals of course. I don't expect it to go back to what it was though!
I used to check the exchange rates about a 1000 times a day due to my work, I've tried to get out of the habit since I retired but still do it about 50 times a day.
As soon as there was significant movement I started ringing round my contacts worldwide, especially currency dealers, to find out what's going on and why.
Of course there are underlying other reasons but I see the £/€ rate parked around the 1.12 mark for the moment, it goes up a bit if a deal looks likely or drops down a bit if a deal looks less likely.
If Boris announced tomorrow he was revoking A50 it would jump at least into the 1.20s and jump similarly against the US$.
If the Uk's out on 31st October there'll be a drop, question is how much.
Yeah, I don't disagree, I was just introducing a point about uncertainty.
As for checking exchange rates 1000 times a day, shouldn't you have had some sort of program and alert system to do that, or was it a long time ago, with abacuses and things? Not that I know, it just seemed an idea.
Related:
Rachel Johnson was asked who's behind her brother's behaviour:
"It could be Cummings advising the PM to be extremely aggressive...it could be people who have invested billions in shorting the £ in the expectation of a no-deal Brexit."
Since the internet was always on screen but dealing in multiple currencies had to keep a close eye all the time.
The Euro was a godsend instead of keeping track of all the various European currencies.
Certain people will make a lot of money from another Sterling collapse. The very rich have convinced the poor to help them in their quest.
Thats the tragic part of Brexit, a lot of the people who will be hit the hardest are cheering for a No Deal Brexit.
At this point all I think is feck em. You reap what you sow.
Part of me thinks that way too mate but i also realize many of them have been manipulated and fed lies every day for 3 years. And thats before you realize theres millions more of us who will be dragged down and have to suffer with them.
Watching the Parliamentary Debates showed how much contempt the Tories have for the British Public.
"You idiots voted to leave. Don't expect us to die here with you. We are going to make our pile and leave too"
"You idiots voted to leave. Don't expect us to die here with you. We are going to make our pile and leave too"
No way I'm rich but if you've any assets at all they've risen as the pound has fallen. Can't say I particularly want it going back up again!
It's on a sliding scale, the richer you are the more Brexit and a sliding pound will benefit you and the poorer you are with little or no assets the harder they'll be hit. Assuming the country doesn't slowdown past the point of ineffectiveness.
Scenes from inside Parliament today:
I know, and at the risk of unbearable arrogance it's a lot of the poor that understand that the least.
I can only think that eventually inflation will kick in, but then again I, and others to be fair, thought QE would result in that and we've been totally wrong so far. Feck knows how it will all correct itself and I'm not sure I want to know in some ways.
I too think feck em, but many of them will also have kids or partners who will be affected by their relative's decisions.
Stability is needed - with Brexit and Trump around it's a while off yet.
Another example of the poor giving it to the elite, Farage and his mates say thank you very much to the poor deluded Brexiters:
https://www.theguardian.com/politic...us-biggest-earners-in-second-jobs-study-finds