Thread: The British Pound

I usually don't buy intot these "predictions," but when Jim Rogers speaks, I listen.

If Rogers is wrong, we can hold his feet to the fire.

Comments and opnions?

Jim Rogers: British Pound could collapse within weeks

Jim Rogers, Chairman of Rogers Holdings, has once again made a bold prediction and that is the British Pound could quite possibly collapse within the coming weeks.
Jim Rogers, co-founder of the Quantum Fund and founder of the Rogers Commodities Index, was quoted in a recent press release that the United Kingdom Pound is on the brink of utter collapse, which could happen within the coming weeks and there is nothing governments can do about it.

Rogers, making statements prior to delivering a keynote speech at next month’s Global Trading Day seminar in Westminster, believes the collapse of the Pound could foreshadow a global economic disintegration before the end of the year. The last few months of increases in the markets have been a “false bounce” and occurred due to government interference in the market and throwing everything at it except for the kitchen sink.

“But it can’t last. We’ve been applying temporary sticking plasters, not long-term cures. Later this year we’ll see the start of the real recession, with more Lehman-scale disasters and a fallout which won’t stop until the underlying malaise is genuinely cured,” said Rogers.

The author of “Hot Commodities” believes the beginning of the collapse of the UK will start with the Pound, adding that the Pound has devalued against all other currencies and is a “basket case,” which will put Great Britain in a bad position when the “shakedown” occurs.

“It sounds like a lot of doom and gloom. But it doesn’t have to be. With foreknowledge, experience, advice and skill, even the steepest downward slide can be turned to advantage. Recession can be just as much a source of wealth as growth.”

Well thank Christ, (well me really), that I put a lot of loot into USD 6 months ago. (from GBP)

Wish to FCK I had optioned the pound with a Put,

My pension income is in UK Pounds - shit !

And the Bank of England Gov Mervyn (W/ever) says the uk will need more Q/A into the system ,

Guess what , I AM GOING TO ARRANGE A PUT, ON USD/GBP.

The Dollars shite, but the best of a load of rubbish,

Shoved a load into Norway Krona 6 months ago , lost 15%

now break even

Norway has no National Debt, large nat reserves, yet neglected

Forex is a weird area

Anybody greedy enough to invest in pie in the sky should be burnt. You greedy fucking bastards. Dancing with glee when your quid reaped a reward, and burning the palms of your hands whilst rubbing them together. Want another hand out to pay the capitalist missmanagers a few more quid? Well fuck off and grow rice. Leeches.

Oops. Double post.

I thought the pound had collapsed already.

^ yep...big style.

Another expert predicting doom. Nice.

However, after the experts predictions have proven so utterly wrong on so many occasions, why should this tard be any different?

Originally Posted by StrontiumDog

^ yep...big style.

Another expert predicting doom. Nice.

However, after the experts predictions have proven so utterly wrong on so many occasions, why should this tard be any different?

Aren't all the infrastructures just propped up with beams of illusion and fancy. The 'systems' have been long dead. Most have no choice but to play along in the corporate-government scheme of control. Lifestyles, is what it really comes down to.

buy RMB - the governmanet is planning a on eoff 5% revaluation this year

Thank God 2012 will end it all

Originally Posted by zanebody

Thank God 2012 will end it all

October 24 2011 actually

Originally Posted by TSR2

Originally Posted by zanebody

Thank God 2012 will end it all

October 24 2011 actually

Good! Earlier than I expected then!

Originally Posted by withnallstoke

Anybody greedy enough to invest in pie in the sky should be burnt. You greedy fucking bastards. Dancing with glee when your quid reaped a reward, and burning the palms of your hands whilst rubbing them together. Want another hand out to pay the capitalist missmanagers a few more quid? Well fuck off and grow rice. Leeches.

Well some of us worked FCKG hard for our loot , certainly not leeches .

and not about to let the real leeches Zap my well earned income

So I protect my wealth using my brains and playing the system !!

Anyway what,s your gripe ??? Trumpet Bum

Sounds like someone trying to talk the pound down. With so many others having joined the euro the pound is now a medium ranked currency vulnerable to speculation if enough momentum can be built up. Anyway I hope not as I took a run at the pound two months ago and I'm now stuck with a pile hoping it will go up after the election.

Originally Posted by crippen

Just been into town. K bank is giving 46.5 bht /gb pound.

Jeez!

Bkk bank selling at 51.25 latest.

Pound tumbles as prospect of hung parliament looms

The pound was under pressure on Monday as traders focused on the prospect that the General Election will produce a hung parliament that fails to tackle Britain's deficit.



Published: 7:16AM GMT 01 Mar 2010
Comments 12 | Comment on this article


The sharp falls followed an opinion poll published in the Sunday Times showing that the Conservatives' lead has narrowed to just two percentage points over the Labour Party. Experts reckon if that voting pattern were replicated on polling day - widely expected to be May 6 - Labour would win enough seats to lead a hung parliament in which neither of the main parties has a majority.
The prospect of a hung parliament has unsettled financial markets over the past week, as it casts doubt over whether there would be any agreement to cut Britain's record Budget deficit. Gordon Brown has warned that taking too sharp an axe to the deficit will imperil a fragile economic recovery. David Cameron and the Conservatives claim that the deficit - which is expected to reach 12pc of gross domestic product (GDP) this year - poses a greater threat to a sustainable recovery.


"The (Sunday Times) opinion poll has given us the prospect of maintaining this Government for another few years," said Hans-Guenter Redeker, head currency strategist at BNP Paribas. "The markets have reacted and are giving a vote of no confidence in Gordon Brown."
This morning's decline saw sterling weaken more than a cent against the dollar to $1.5097, its lowest since May 2009, and slide against the euro. It caps a torrid few days for the currency as the propsect of a clear result in the election recedes.
The deepest downturn since the 1930s has put the economy and the deficit at the heart of the unofficial election campaign. While Britain officially emerged from recession in the final three months of the year, the most recent data has raised the prospect of a double-dip recession as banks continue to deleverage and consumers cut their spending.
Worries over the possibility of sovereign defaults and the robustness of the recovery are now dominating the attention of financial markets. With a deficit of more than 12pc of GDP, Greece has so far been in the eye of the storm.
Some strategists say that sterling's sharp declines may be capped because of the scale of bets traders have already taken out against the currency. The latest data from the US Commodity Futures Trading Commission, which provides a snapshot of traders' positions, showed that the number short, speculatve positions betting on a drop in the pound against the dollar reached a record 80,986.


Goody goody gum drops

After reading that, I'm not going to bother checking the rates. I might cry.

Originally Posted by StrontiumDog

After reading that, I'm not going to bother checking the rates. I might cry.

47 ......I've gone through three hankies already. Goodbye new house , hello sitting under a footbridge with a plastic cup.

Originally Posted by TSR2

Originally Posted by zanebody

Thank God 2012 will end it all

October 24 2011 actually

Bugger, one day before my birthday.
Pound didn't have agood day yesterday.
I did short at 5 quid a point.

Looks as though the Pound is collapsing....

47-48 now.

Fark.

Originally Posted by crippen

Good job Smeg left when he did.Bless him.

Probably contributing to the collapse in some undefined way.

Looks like at this second it might take another big hit today as well.
Time will tell.