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  1. #1
    Thailand Expat
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    British Expats Feeling the Pinch as Pound Tumbles to 31-Year Low

    British Expats Feeling the Pinch as Pound Tumbles to 31-Year Low


    BANGKOK – British Expat pensioners living in Thailand are feeling the pinch as the British pound dropped to a three-decades low, after Prime Minister Theresa May’s announcement that she would begin the process of leaving the EU bloc in the first quarter of 2017.
    The pound has slumped to a 31-year low against concerns over the timing of Britain’s planned exit from the European Union, according to traders. In Thailand Britons are getting only 1.00 GBP = 44.32 THB
    The Sterling fell beyond its post-vote low and is down against 30 of its 31 major peers since Prime Minister Theresa May’s weekend announcement that Britain would trigger its exit from the European Union in the first quarter of 2017.
    Declines have extended since Mrs May was said to refuse to prioritise the protection of the financial-services industry in negotiations with the EU.
    “We have the market facing the reality that Brexit is about to begin and we could be faced with hard Brexit,” said Jane Foley, a senior currency strategist at Rabobank International in London.
    There are also reports that “the government may not make any exceptions for the financial sector and that is just lacing the concerns the market already has about the outlook for growth, investment and jobs in the UK economy.”
    Sterling fell 0.5% to $1.2781 as of 8.42am in London, and touched $1.2757, its weakest level since 1985.
    During the first day of the Conservative Party’s annual conference in Birmingham on Sunday, Mrs May promised to curb immigration and set a date for Britain to trigger Article 50, which starts a two-year withdrawal process.
    While that removed one risk that’s been hanging over UK businesses, the British Prime Minister failed to provide further clarity on what leaving the EU will actually look like.
    The pound has fallen 14% versus the dollar since the British people voted to quit on June 23, and just completed its worst quarterly run of losses since 1984, with five straight declines.

    While that move has become a focus of the post-vote angst in the UK, it’s not necessarily bad news for everyone. The weaker currency may cushion the economy by boosting exporters, and the decline has also buoyed the nation’s stock market, with the FTSE 100 Index surpassing 7,000 for the first time in 16 months on Tuesd

    British Expats Feeling the Pinch as Pound Tumbles to 31-Year Low | Chiang Rai Times English Language Newspaper

  2. #2
    Thailand Expat
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    Just going to cut back on buying the Ladies drinks.

  3. #3
    Thailand Expat VocalNeal's Avatar
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    One would only feel the so called pinch if one did not have sufficient funds.

  4. #4
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    Have a sense that this downside is just a trend.

    I would be expecting the British exchange to recover to better standards befire long - end of the year [??]

  5. #5
    Not a Mod. Begbie's Avatar
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    Quote Originally Posted by thaimeme View Post
    Have a sense that this downside is just a trend.

    I would be expecting the British exchange to recover to better standards befire long - end of the year [??]

    5555 nice one

  6. #6
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    Brexit starts at the end of March and the Baht will end up at about 37 Baht to the £1 ,

    Brexit: Theresa May to trigger Article 50 by end of March - BBC News

  7. #7
    En route
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    What does thegent think about all this I wonder.

  8. #8
    5 4 Knoll
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    Time to visit the Hill tribes.

    anyone done the Northern Loop by Biker.
    We'd start at The Newcy Brown Brewery alas now South of the Tyne
    Sunbathing in Furness
    The delights of Sellafield
    Park bikes at Anfield . Kop the insurance and have a cultural experience in Cheetham Hill.

    Bury my Heart at the Cheshire View Mo Co' and waft me ashes over the nesh end
    Quote Originally Posted by Latindancer View Post
    I just want the chance to use a bigger porridge bowl.

  9. #9
    Days Work Done! Norton's Avatar
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    Quote Originally Posted by Cujo
    What does thegent think about all this I wonder.
    35 to da pound.

  10. #10
    Pronce. PH said so AGAIN!
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    Quote Originally Posted by david44
    The delights of Sellafield
    I thought that place got renamed Gamma City after all the sheep grazing around it started having lambs with more legs than a spider?

  11. #11
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    No thanks to a bunch of coffin dodgers voting to leave

  12. #12
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    Quote Originally Posted by Norton View Post
    Quote Originally Posted by Cujo
    What does thegent think about all this I wonder.
    35 to da pound.

    Lots of gnashing, foaming, and hyper-ventilating over on the Brexit thread:

    https://teakdoor.com/world-news/16707...it-its-on.html

  13. #13
    Thailand Expat Pragmatic's Avatar
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    A price I'm prepared to pay to get out of the EU. We should never have joined in the first fcuking place. I knew this would happen after we had the first referendum. Fcuk the EU and all who sail in her.

  14. #14
    Thailand Expat lom's Avatar
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    Quote Originally Posted by Pragmatic
    A price I'm prepared to pay to get out of the EU. We should never have joined in the first fcuking place.
    You should never had been let in, de Gaulle was so right..

    "De Gaulle understood Britain better than most of our own leaders. A week earlier in 1963, he had signed the Élysée Treaty, enshrining friendship with France’s former deadly enemy, Germany. He knew that Britain would never engage in the sort of full-hearted partnership that he had just forged. Britain would not fully sacrifice her independence to create a new European political entity"

    The reasons he gave in February 1963 when announcing the French veto were as follows:

    Britain would represent American interests: it would be the US's Trojan horse in the EEC.

    Britain was not committed to the goals of the EEC and, having withdrawn in 1955 from the original talks that led to the creation of the EEC, had proceeded to establish its own rival customs union EFTA.

    In addition, he sounded off in general terms about what he called British arrogance and self-importance.

  15. #15
    Harbinger of Doom

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    My wife and I get paid in Baht so trips to the dismal island are a lot cheaper now but I can't say I'm particularly happy about the situation. On the other hand, huge numbers of these recently impoverished pensioners are racist UKIPers so fuck 'em. If they now have to slink back to live in some grotty government sheltered accommodation in Hull and then suffer the indignity of having their once-a-week arse-wiping session being conducted by a sadistic and vengeful Polish careworker, well, there'll be a certain justice in that, won't there.
    Last edited by Passing Through; 06-10-2016 at 01:22 PM.

  16. #16
    R.I.P. Luigi's Avatar
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    Never liked Thailand anyway.


    How long til that BKK - Phnom Penh train is up and running?

  17. #17
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    Quote Originally Posted by Luigi View Post
    Never liked Thailand anyway.


    How long til that BKK - Phnom Penh train is up and running?
    Yet feelin' the pinch.

  18. #18
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    The GBP rate should go to THB40.25-THB40.5 within the next six months, and then flatline at about that level

  19. #19
    Hangin' Around cyrille's Avatar
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    Quote Originally Posted by Cold Pizza View Post
    Yet feelin' the pinch.
    As a response that makes no sense whatsoever.

    I realise that's par for the course with you, but anyway...

  20. #20
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    Paid in either dollars or euros. I doubt the savings of wanker bankers and Zionist elites will suffer

  21. #21
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    Quote Originally Posted by lom
    Britain would represent American interests: it would be the US's Trojan horse in the EEC.
    he was quite the visionary,

    having spend time during the war with Churchill and the Brits, must have been quite a cultural shock for him to realize that the UK was too dangerous for a new European bloc

  22. #22
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    Quote Originally Posted by lom View Post
    Quote Originally Posted by Pragmatic
    A price I'm prepared to pay to get out of the EU. We should never have joined in the first fcuking place.
    You should never had been let in, de Gaulle was so right..

    "De Gaulle understood Britain better than most of our own leaders. A week earlier in 1963, he had signed the Élysée Treaty, enshrining friendship with France’s former deadly enemy, Germany. He knew that Britain would never engage in the sort of full-hearted partnership that he had just forged. Britain would not fully sacrifice her independence to create a new European political entity"

    The reasons he gave in February 1963 when announcing the French veto were as follows:

    Britain would represent American interests: it would be the US's Trojan horse in the EEC.

    Britain was not committed to the goals of the EEC and, having withdrawn in 1955 from the original talks that led to the creation of the EEC, had proceeded to establish its own rival customs union EFTA.

    In addition, he sounded off in general terms about what he called British arrogance and self-importance.
    ^Rich, coming from a Frog..

    Given Britain's geographic isolation from mainland Europe, there has always been a deep suspicion between us.
    -Plus Europe's extreme political swings last Century; Britain managed to avoid all that horrible Fascism, Nazism, Communism, tasty food and faggy techno music..

  23. #23
    Thailand Expat David48atTD's Avatar
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    Quote Originally Posted by thaimeme View Post
    Have a sense that this downside is just a trend.

    I would be expecting the British exchange to recover to better standards befire long - end of the year [??]
    Humm ...

    I'm not as optimistic with the time frame.

    The conditions of the Brexit are yet to be negotiated. The EU may wish to play hardball to deter other member nations from exiting the EU.

    Italy and maybe the Netherlands may wish to follow England's lead.

    London's position as the Financial Centre of Europe maybe be at risk if there is no allowance of transportable employment visas.

    The logical alternatives are, from an English speaking perspective is Dublin with the other main contender being Frankfurt, Germany.

    The lower pound obviously helps the UK's exporters now ... because the EU trade relations and agreements are still available, but, on exiting the EU, depending on what is negotiated, those doors may close.

    e.g. ... the future of Nissan's UK manufacturing plant in Sutherland under question as Nissan use the plant as it's gateway into Europe.


    Source


    I'm not a Pom, but, from an economic perspective, the better union would be a free trading bloc of the UK, Germany, France, maybe Spain and most of Northern Europe.
    Each having their own currency, immigration control, Laws, but common approach to standards of manufacturing and products.

    Screw having a European Parliament ...

    Let Eastern Europe form their own trading block.

    Piss Greece off ... lying bastards ... they lied heir way into the EU by cooking their books with the help of Goldman Sachs ... then that company, armed with that inside knowledge, made a shitload trading off that info.

    Italy's Banks are almost Bankrupt and he EU now, under their laws, can't 'bail them out' ... ditto Deutsche Bank, unless they can seriously negotiate the US imposed $14 Billion fine imposed for being naughty boys during the GFC.


    Rant over ... I wish the British folks good luck and hope they have a 'fair' Brexit, can negotiate some new trade deals which can replace, in part, what they lose from the Brexit and that they can enjoy the freedom to control their borders and Sovereignty.



    So, the 'value' of the Pound will be affected by the desire to own it ... if the UK's economy suffers as a result of Brexit, then the Pound will similarly be affected.

    One bright note might be the increased Tourism as a lower pound makes it a cheaper place to visit.
    Last edited by David48atTD; 06-10-2016 at 02:47 PM.

  24. #24
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    Hard Brexit is really the only way to go from a negotiation standpoint. Accept worse case scenario in terms of trade (which is what the markets are seemingly using), i.e. WTO terms (lets face it 10% import/export tariffs are hardly the end of the world).

    Welcome EU citizens for employment using the same qualification criteria as any non EU national.

    There are currently 59 countries who have visa free access to the Schengen areas (i.e. mainland EU). The UK to become the 60th.

    The pressure on the pound is purely down to speculators such as the Soros's of this world, as economic performance and indeed outlook is outstripping all the other main players of the EU. Indeed, it's hard to see where the Eurozone countries are going to get stimulation from, with ever increasing burdens being placed on the ECB (i.e. Germany) to prop up the likes of Greece, Italy and Spain etc. Losing the UK's contribution to the EU isn't going to help for sure.

    Within a few years, the pound to become a safe haven, as London property is for foreign investors.

  25. #25
    Thailand Expat David48atTD's Avatar
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    PAG, I have to disagree with almost everything you scribe ...

    Quote Originally Posted by PAG View Post
    Hard Brexit is really the only way to go from a negotiation standpoint. Accept worse case scenario in terms of trade (which is what the markets are seemingly using), i.e. WTO terms (lets face it 10% import/export tariffs are hardly the end of the world).
    Absolute BS ... negotiate the best trade deal possible. the EU is the UK's largest export base, by both volume and in momentary terms. '10%' is huge in terms of international competitiveness!

    Quote Originally Posted by PAG View Post
    Welcome EU citizens for employment using the same qualification criteria as any non EU national.

    There are currently 59 countries who have visa free access to the Schengen areas (i.e. mainland EU). The UK to become the 60th.
    Good luck trying to negotiate 'EU citizens' free movement. It would only be advantageous to the UK if the guest worker could contribute the UK Economy. 'Free Movement' would be tied to free movement of refugees ... never going to happen.

    Quote Originally Posted by PAG View Post
    The pressure on the pound is purely down to speculators such as the Soros's of this world, as economic performance and indeed outlook is outstripping all the other main players of the EU. <snip>
    Actually, Soros LOST BIG TIME on the Brexit ... "
    Perhaps George Soros should go back into retirement.
    It appears the 85-year-old lost money betting that the British pound would rise in the wake of the Brexit vote. A Soros spokesperson confirm to bloomberg that the octogenarian’s fund was “long” the pound even after the vote."
    Source

    Quote Originally Posted by PAG View Post
    Within a few years, the pound to become a safe haven, as London property is for foreign investors.
    Sadly, I doubt the UK pound will ever be regarded as a 'safe haven'. While ATM, it's the 4th most traded currency in the world, that high trading position will, most likely drop in the International Currency Basket post Brexit.

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