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The consequence thread (Brexit)


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As I recall the advice from Savill's went something like ..A new ring road is nearly completed and many of the derelict warehouses and industrial premises are approved for residential use which will bring prosperity to the area.

I'm sure the flats that are for sale are below £190,000. There are also quite a number that aren't for sale that are valued at rather more. Particularly those with river views and private parking.

 

And you trust estate agents? They come a close second to used car salesmen in my book.

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Why are we talking about the price of flats in Neepsend?

 

Any chance we can get back to that thing where cross people who voted remain cherry pick bad economic predictions from before the vote and claim without evidence that they've come true, then for this which have not come true: move the predictions back to actual exit.

Or for the sake of balance: That thing where people who voted leave stick their fingers in their ears and deny all present and future negative economic impact from Brexit.

 

I for one always acknowledged that there would be some collateral damage from Brexit. The problem as I see it now is that those with money have gambled on what the remain have warned about that has not materialised yet forcing the pound down. Traders have done the damage so far not Brexit and it was cited that a rouge trader was responsible for the sudden drop in the pound the other day. As said before, buying and selling currencies to make a profit or lessen losses is the problem.

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Against the background of completely unnecessary QE, which the BoE decided to implement against all reason, Sterling is holding up reasonably well.

 

Have a look at this:

http://www.xe.com/currencycharts/?from=XAU&to=GBP&view=1Y

Sterling has been stable against gold since about a week after the referendum.

 

Also this:

http://www.xe.com/currencycharts/?from=XAU&to=USD&view=1Y

Same plot for the dollar.

 

Now I have said before that the supposed recent falls in the value of the pound are in fact just rises in the value of the dollar. It's hard to take the above 2 plots as anything other than rather compelling evidence that I was correct to say so.

I expect that the remainers desperately willing the UK to get into economic trouble will have trouble spinning this...

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Against the background of completely unnecessary QE, which the BoE decided to implement against all reason, Sterling is holding up reasonably well.

 

Have a look at this:

http://www.xe.com/currencycharts/?from=XAU&to=GBP&view=1Y

Sterling has been stable against gold since about a week after the referendum.

 

Also this:

http://www.xe.com/currencycharts/?from=XAU&to=USD&view=1Y

Same plot for the dollar.

 

Now I have said before that the supposed recent falls in the value of the pound are in fact just rises in the value of the dollar. It's hard to take the above 2 plots as anything other than rather compelling evidence that I was correct to say so.

I expect that the remainers desperately willing the UK to get into economic trouble will have trouble spinning this...

 

Gold prices have no relation to economic performance. You can only compare our economy with our peers and they are out performing us all day every day since the brexit result. Just look at the currency performance after every brexit announcement form the government. It dives. Now you know why the PM and the rest of the cabinet are reluctant to say anything about the UK leaving the EU. Every time someone says something, billions is wiped off UK businesses and they are further weakened leaving them vulnerable to foreign takeovers.

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Gold prices have no relation to economic performance. You can only compare our economy with our peers and they are out performing us all day every day since the brexit result. Just look at the currency performance after every brexit announcement form the government. It dives. Now you know why the PM and the rest of the cabinet are reluctant to say anything about the UK leaving the EU. Every time someone says something, billions is wiped off UK businesses and they are further weakened leaving them vulnerable to foreign takeovers.

 

And at the same time there's far more to economic performance than the international trading value of the currency. Our exporters have been doing rather well of late, and the remainers have stopped talking about the FTSE250 which was supposedly the big indicator to watch in July.

 

I offer gold as a fixed point to compare the value of our currency. It may not be a completely fixed point, but it's far better than the USD which is another volatile fiat currency with its own life to lead.

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Against the background of completely unnecessary QE, which the BoE decided to implement against all reason, Sterling is holding up reasonably well.

 

Have a look at this:

http://www.xe.com/currencycharts/?from=XAU&to=GBP&view=1Y

Sterling has been stable against gold since about a week after the referendum.

 

Also this:

http://www.xe.com/currencycharts/?from=XAU&to=USD&view=1Y

Same plot for the dollar.

 

Now I have said before that the supposed recent falls in the value of the pound are in fact just rises in the value of the dollar. It's hard to take the above 2 plots as anything other than rather compelling evidence that I was correct to say so.

I expect that the remainers desperately willing the UK to get into economic trouble will have trouble spinning this...

 

My version of xe.com looks wildly different. The pound dropped off a cliff and only started to crawl back up. Look at the last 12 months. What does it tell you?

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