GBP Plunge
Reynaldo
6,054 Posts
What it do? 
Reynaldo
6,054 Posts
Comments
HC can get us the real on this, but currency is a funny thing.
A currency says In God We Trust, because with out trust they are worth nothing.
In the old days a coin was worth it's weight in gold or silver.
Then we produced bills that were backed by gold (or silver sometimes).
Then after wwii it was decided that world currencies would be backed by US$$.
The $$ was backed by the rest of the worlds trust in it being worth something.
So we just play this game where we pretend that $$$ are worth something and as long as everyone pretends with us it works fine.
BTW, I think the system we have know is no more foolish than backing the $$ with gold. Why should gold be worth any thing? I have no use for it.
The GBP has been fluctuating wildly this year. Things will settle down by 2011 and we should be out of this recession/depression by 2013. I aint selling any records until then.
Hey A***** I just saw a commercial for British airways $156 each way from NYC (probably different from SF but still) you get 2 free nights at a hotel in London.
They don't say which hotel, I guess.
Thanks dude. I actually got all my flights and places booked, so I'm good to go. Thought it was strange that all the hotels in London were much much cheaper than the ones in Paris, but now I know why.
I like how Julian Temple edited it together here regarding the UK economic collapse of the mid 70's ...the intro of this, beginning at about 1:15, and scary dude at about 3:58.
Yeah, I wonder how many people are thinking the euro is coming???
No, I don't alter my bid for currency fluctuations.
I just bide my time, the rate will be more favourable at some point, and/or that record will be out of favour at some point.
The time to fill the boots was back in early/mid 08 when ??/$ (known as 'cable' in the business) was 2.10.
I have bought nothing priced in dolla or euro since October.
That's ok, it's given me the impetus to thresh the charity shops and so on.
Swings and roundabouts, my friend!
As for ?? joining the euro, the economic case is there but still a big chunk of people who will explode with outrage were it to happen.
I can see it becoming more possible if teh recession extends into 2010 without signs of recovery.
In the meantime, come and visit!
A friend of mine who works for the Labour Party tells me that the banking system in the UK is this > < close to being completely nationalised. "Absolutely, utterly fucked" was the phrase he used to describe its current state. Funny thing is, there was some economist on Newsnight the other night - garden variety Friedmanite headbanger who still thinks it's the mid-80s - who was arguing that nationalised banks are inefficient - compared to what, exactly? I mean, unreconstituted Trotskyite I may be, but I'm not about to argue for state control of everything. Nevertheless, by the same token and in the face of MASSIVE evidence to the contrary, I'm not having some nimrod effectively pissing on my boots and telling me it's raining, parroting the same old bullshit about "state-controlled" = bad/"free market" = good, and acting like a Vegas loser who thinks they can claw back their losses with just a bit more (of someone else's) money and just one more throw of the dice. F*ck that noise. It's precisely those kinds of blinkered, moronic ideologues who brought us to this point in the first place. What was it Sport Cas said on here back when the arse dropped out of the game? Something about trickle-down economics vs. trickle-up morality..?
I personally don't give a shit about joining the Euro, money is money and as long as I have something that can buy me what I want I don't care what the name of the currency is. Sadly there are lots of people who see this as the final blow in losing our independence as a "nation" and I don't see it happening anytime soon.
It will not trigger a mass culling of the Royal Family, burning of castles (they can do that themselves quite well), Beefeaters, Bobbies, feral teenagers and all the other icons we hold so dear.
But it would be kinda awesome if it did
Just don't ask me to eat sauerkraut, read Le Monde or wrassle a Romanian.
Exactly the same discussion going on over here too. The current debate is on how to implement the coming government aid to the banks, which are indeed fucked. The opposition is mad and wants some degree of state influence (i.e. board posts) to ensure that the taxpayer's money don't get flushed down the drain again by imcompetent management (whose mega-salaries are also under scrutiny). The government and their supporting parties will hear no such thing and are screaming "socialism".
I'm just glad my bank managed to steer clear of all of this. it's a small bank that was founded by some hippie anthroposiphists in the early 80s and their policies on all areas of banking are miles away from the big dude banks, so luckily they havent been affected by the crisis and their economy is still sound.
Siesta.
Birds taking pride in their appearances. Preferably all appearing like Raquel Welch, Sophia Loren, that bird out of The Matrix II, Emanuelle Beart, Isabelle Adjani and that bird out of Betty Blue. Dalle, yeah.
Marina-wear.
Garlic with everything.
Gunfire replaced with the sound of gutless vespas being raped to within a micron of 20,000 rpm.
??Es Bueno, non?
did i mention that English chicks have no chins?
Who'd have thought it?
im not chippy, im chuppy.
B/W
LOL
The ones around here have more chins than a Chinese telephone directory.