Brexit and money talk

[Sword]

1 minute ago, 1949threepence said:

He did say that as far as post Brexit trade deals are concerned, the UK would be at the front of the line, instead of the back of the queue, according to Obama.  

No one want to be in front of any of his queues. Who knows what he has in mind. EU can go first and then UK will then know what to expect. (I am being selfish, I know)

[azda]

On 10/10/2016 at 9:48 PM, Sword said:

No one want to be in front of any of his queues. Who knows what he has in mind. EU can go first and then UK will then know what to expect. (I am being selfish, I know)

The UK is going to be at the back of everyones queues........The £ is plummeting, on the upside i can get more for my euro in auction 

I read somewhere the other day that at some airports they were exchanging £1 for 0.88 cent, this time last year you'd be getting around 1.40 euro to the pound, time to buy some of those plastic fivers

[Coppers]

Amazing.  I had not been paying much attention to what has been and apparently is still happening to the £..  

Has this had much of an impact on our hobby within the UK ?

  

[Nordle11]

51 minutes ago, azda said:

The UK is going to be at the back of everyones queues........The £ is plummeting, on the upside i can get more for my euro in auction 

I read somewhere the other day that at some airports they were exchanging £1 for 0.88 cent, this time last year you'd be getting around 1.40 euro to the pound, time to buy some of those plastic fivers

I'm in your boat  bought a few things recently that I'd not felt worth it before the pound fell so sharply. Now with the exchange they work out at the same price I was offering before (for me anyway).

[azda]

6 minutes ago, Nordle11 said:

I'm in your boat  bought a few things recently that I'd not felt worth it before the pound fell so sharply. Now with the exchange they work out at the same price I was offering before (for me anyway).

Maybe by the end of the year i"ll get £1.20 for a euro  Todays rate is £1=1.11 euros. It has been said that the euro and pound will be like for like by the end of the year

Edited October 13, 2016 by azda

[1949threepence]

24 minutes ago, Coppers said:

Amazing.  I had not been paying much attention to what has been and apparently is still happening to the £..  

Has this had much of an impact on our hobby within the UK ?

  

It obviously would have the effect of making coins bought from the USA or Europe significantly more expensive. But if, like me, you have been solely buying from within the UK recently, there has been no change.    

[1949threepence]

1 hour ago, azda said:

The UK is going to be at the back of everyones queues........The £ is plummeting, on the upside i can get more for my euro in auction 

I read somewhere the other day that at some airports they were exchanging £1 for 0.88 cent, this time last year you'd be getting around 1.40 euro to the pound, time to buy some of those plastic fivers

Actually, if we have goods that are in demand elsewhere, the lower pound will have the effect of increasing our exports, because cheaper, and making trade deals more likely. So it isn't all doom and gloom, as some bremainers predict.

Pound/dollar curent exchange rate £1.22.

  

[Chingford]

Also good for Annuities and Pension pots, shares up 17½% generally

[azda]

1 hour ago, 1949threepence said:

Actually, if we have goods that are in demand elsewhere, the lower pound will have the effect of increasing our exports, because cheaper, and making trade deals more likely. So it isn't all doom and gloom, as some bremainers predict.

Pound/dollar curent exchange rate £1.22.

  

We still have to work out what it is the UK has to offer, financial services? Just reading that Unilever want a 10% increase of their products from Tesco, so now Tesco have stopped selling Marmite (no big loss) Comfort and some washing powder.....Maybe Nordle should open a thread for the Brexit and money talk as it will lead away from the actual topic of Trump V Clinton? @Nordle11

Edited October 13, 2016 by azda

[Nordle11]

[Nick]

Apparently Unilever want a 10% increase across the board due to the change in exchange rate.  Only Tesco have objected so far.  Interestingly, Marmite is wholly sourced and made in the UK - so it sounds like a good excuse for some profiteering by Unilever.

Edited October 13, 2016 by Nick

[PWA 1967]

37 minutes ago, Nordle11 said:

You just stay in Spain Matt and if you ever come back bother about it then 

Oh..... and have a word with the Spanish postal system as the coin you sent has not turned up yet 

Edited October 13, 2016 by PWA 1967

[jaggy]

I have a decent amount of cash in the UK which I haven't moved partly because of the exchange rate and also because I use that cash when I am in the UK. Luckily, I moved the bulk of my UK assets when the rate was $1.55.

Anyway, I have decided that the best use of the remaining cash is to buy high quality coins both for my enjoyment and as a store of value going forward.

That said, exchange rates do fluctuate. Wasn't so long ago that the pound was around $1.80 and the Euro was 1.38 to the dollar. Now it is $1.22 and 1.12 Euros. Given the Uk deficit, the pound was probably over-valued anyway and, given the Deutsche Bank situation, Greece and the state of the southern European economies, the Euro is probably over-valued as well. So who knows where the rates will be in 12 months time.

[PWA 1967]

50 minutes ago, PWA 1967 said:

You just stay in Spain Matt and if you ever come back bother about it then 

Oh..... and have a word with the Spanish postal system as the coin you sent has not turned up yet 

Having a word was spot on Matt......as just turned up 

[Nordle11]

27 minutes ago, PWA 1967 said:

Having a word was spot on Matt......as just turned up 

A kick up the backside is all they needed 

[1949threepence]

2 hours ago, azda said:

We still have to work out what it is the UK has to offer, financial services? Just reading that Unilever want a 10% increase of their products from Tesco, so now Tesco have stopped selling Marmite (no big loss) Comfort and some washing powder.....Maybe Nordle should open a thread for the Brexit and money talk as it will lead away from the actual topic of Trump V Clinton? @Nordle11

We are the 9th largest exporter in the world, so I'm pretty sure there's many places which want our goods - link 

Quote

The top exports of the United Kingdom areCars ($46B), Gold ($37.4B), Crude Petroleum($23.1B), Refined Petroleum ($22.1B) andPackaged Medicaments ($19.6B), using the 1992 revision of the HS (Harmonized System) classification. Its top imports are Cars ($47.3B),Crude Petroleum ($34.1B), Refined Petroleum($27.7B), Packaged Medicaments ($21.5B) andComputers ($16.9B).

 

[Nick]

Congratulations on the milestone of your 1000^th post Jaggy.  In times gone by you would have become a 'Forum God', but now you'll just have to settle for being an 'Accomplished Collector'.

Edited October 13, 2016 by Nick

[jaggy]

5 hours ago, Chingford said:

Also good for Annuities and Pension pots, shares up 17½% generally

Indeed. At a personal level (rather than a macro-economic one) and if your base currency is pounds then your biggest enemy is inflation rather than the exchange rate.

[jaggy]

11 minutes ago, Nick said:

Congratulations on the milestone of your 1000^th post Jaggy.  In times gone by you would have become a 'Forum God', but now you'll just have to settle for being an 'Accomplished Collector'.

Thanks Nick. I hadn't actually noticed to be honest.

[azda]

19 hours ago, 1949threepence said:

We are the 9th largest exporter in the world, so I'm pretty sure there's many places which want our goods - link 

 

Cars? Most of which are foreign., with the decrease will they pull out, Minimight  if there's a hard Brexit

Gold? There are no mines in he UK and Gordon Brown sold all of the assets from the BoE

Petrolium, ok, but the UK imports gas....

Edited October 14, 2016 by azda

[1949threepence]

27 minutes ago, azda said:

Cars? Most of which are foreign., with the decrease will they pull out, Minimight  if there's a hard Brexit

Gold? There are no mines in he UK and Gordon Brown sold all of the assets from the BoE

Petrolium, ok, but the UK imports gas....

As far as gold, the stats are there as quoted. I agree with you about gas, and it does seem tragic that we ran down our reserves just to produce electricity, after all the old coal fired power stations were shut. Just as well that fracking has got the green light.   

I'm sure we will pull through and ultimately prosper, whatever short term problems may arise. The Bremain side is full of doom and gloomers.  

However, I hope Nicola Sturgeon does get her wish of a second independence referendum, so that if Scotland wishes to stay in the EU they can. I'm all for Scotland's independence, especially as they have 56 SNP's in parliament, for a fraction of the votes ukip got, for just one MP.     

[Nordle11]

4 minutes ago, 1949threepence said:

As far as gold, the stats are there as quoted. I agree with you about gas, and it does seem tragic that we ran down our reserves just to produce electricity, after all the old coal fired power stations were shut. Just as well that fracking has got the green light.   

I'm sure we will pull through and ultimately prosper, whatever short term problems may arise. The Bremain side is full of doom and gloomers.  

However, I hope Nicola Sturgeon does get her wish of a second independence referendum, so that if Scotland wishes to stay in the EU they can. I'm all for Scotland's independence, especially as they have 56 SNP's in parliament, for a fraction of the votes ukip got, for just one MP.     

Not sure if this is interesting to anyone, but it's a good site to have a gander 

 

http://www.gridwatch.templar.co.uk/

[azda]

8 minutes ago, 1949threepence said:

As far as gold, the stats are there as quoted. I agree with you about gas, and it does seem tragic that we ran down our reserves just to produce electricity, after all the old coal fired power stations were shut. Just as well that fracking has got the green light.   

I'm sure we will pull through and ultimately prosper, whatever short term problems may arise. The Bremain side is full of doom and gloomers.  

However, I hope Nicola Sturgeon does get her wish of a second independence referendum, so that if Scotland wishes to stay in the EU they can. I'm all for Scotland's independence, especially as they have 56 SNP's in parliament, for a fraction of the votes ukip got, for just one MP.     

Still curious where the gold is coming from......

[Nordle11]

Under the BoE

[Paulus]

This is a very ignorant question I'm sure, but why are we exporting $45 B of petroleum and importing $62 B of petroleum? What is the point of that? Couldn't we just import the difference, around $17 B? Is it about different grades?