Where is the £ going?

Gold and silver are the bellwether of the economy. The pound falls, precious metals rise.

I collect silver. This shows the last week.



Until Brexit is sorted out where the hell are we going?

Until Brexit is sorted I don't think the currency markets will do any proper business, the fragility of Euro economy is hiding from the truth in the current chaos and is probably only bolstered on the promise of £39 billion from the UK

I bought the left side coin first, the right side a fortnight later it cost £70 more.

They’re both 10ozT in weight and both 99.99% pure.

Sterling will devalue further due to markets not liking chaos - never have!  Oddly enough this may well be good for the UK econonmy, some things will rise in price, like imported food, but our exports will be cheaper.

They reckon the £,$ and € will have parity by next year.

They also reckon we are heading into a recession and a collapse in housing prices.

binky said:

Sterling will devalue further due to markets not liking chaos - never have!  Oddly enough this may well be good for the UK econonmy, some things will rise in price, like imported food, but our exports will be cheaper.

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How will this help when we have a trade deficit?

beacuse it makes our products more competitive to other countries, why do you think the Chinese have been artificially undervaluing their currency for decades? (don't know they get away with that, but they do!)

binky said:

beacuse it makes our products more competitive to other countries, why do you think the Chinese have been artificially undervaluing their currency for decades? (don't know they get away with that, but they do!)

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Are you having a laugh.

The UK will be stuck behind WTO tariffs, whenever they become competition, the tariffs will just be bumped up.

What will be will be, I just wish they’d bleedin get on with it. 

We’ll do what we always do, deal with whatever comes our way, it may or may not hurt for a while but ultimately we will still carry on regardless. Who knows it may even improve us over time. 

It's going crazy!

On paper I've made £500 since Monday.



Note "on paper"!

Oh boy! Another paper millionaire!

Sharpend said:

Oh boy! Another paper millionaire!

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On paper.

But I'm not going to sell, it's for Carl S.

UNG said:

and is probably only bolstered on the promise of £39 billion from the UK

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Apparently  ,  due to the delay in us leaving , we have been paying that  £ 39b  into the EU  while arguing amongst ourselves .  

Anyone remember last year  ...Britain paid India a trillion million £s   :C    in overseas aid  .     They laughed at us , saying why do you do this ?  We don't need it , we are an advanced economy ,    we are an advanced country with our own space programme etc    

I know what the first thing I'd do when I heard that if I had the power.     

That’s something I hadn’t considered, since voting to leave we’ve paid £39billion x 3, although I did happen to notice that Liverpool seems to get some funding from the EU for development, but not £39billion worth! 

rapparee said:

Are you having a laugh.

The UK will be stuck behind WTO tariffs, whenever they become competition, the tariffs will just be bumped up.

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not talking about Brexit fiasco, just that cheaper finished goods are easier to sell - it's not rocket science. Trouble is we don't make much anymore...

binky said:

not talking about Brexit fiasco, just that cheaper finished goods are easier to sell - it's not rocket science. Trouble is we don't make much anymore...

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Hence my point about our trade deficit. Weaker pound does not help when petrol is traded in dollars either ........

Granted, that will cause inflation, but we do do still make and sell products, and finished goods cost a lot more than raw materials - that's the whole point of 'adding value' through manufacturing. So just as when the pound devalued after the leave vote, boosting business and jobs, further devaluation will do the same. People who import finished goods to sell in the UK will suffer loss of margins, and the biggest issue is our reliance of imported food, and energy, which will increase in price hitting the poorest hardest. 

Things are getting ridiculous. I'm out of the market until the bubble bursts or Boris gets the order of the boot.