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Old 24-06-2016, 09:04   #46
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re: Grrrr..Brexit.

Doesn't this now have to go before the UK parliament and if it gets the nod there doesn't it then have to get past the House of Lords?

Or, on Monday, do they just say 'Hooroo you nasty continentals, we're out of here?
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Old 24-06-2016, 09:14   #47
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re: Grrrr..Brexit.

I almost old enough to be carbon-dated. Only once, for a while, do I remember the Canadian dollar at a premium to the USD (and some may know who gets credit for that).

Never, AFAIK, has the UK Pound Sterling ever been valued at less than the almighty dollar; although it has sagged a bit in recent decades. I suspect that is about to change.

IIRC, the pound was fairly stable at about $2.50/£ for a long time post WWII, recently more like $1.65. Will it slide to $1 or less now?

Remember the yen?
Or closer to home, the many ups, and mostly downs, of the Mexican Peso (I miss shopping frequently across La Frontera, but other factors prevail: La Ploma...).
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Old 24-06-2016, 09:17   #48
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re: Grrrr..Brexit.

Quote:
Originally Posted by Tx J View Post
I almost old enough to be carbon-dated. Only once, for a while, do I remember the Canadian dollar at a premium to the USD (and some may know who gets credit for that).

Never, AFAIK, has the UK Pound Sterling ever been valued at less than the almighty dollar; although it has sagged a bit in recent decades. I suspect that is about to change.

IIRC, the pound was fairly stable at about $2.50/£ for a long time post WWII, recently more like $1.65. Will it slide to $1 or less now?

Remember the yen?
Or closer to home, the many ups, and mostly downs, of the Mexican Peso (I miss shopping frequently across La Frontera, but other factors prevail: La Ploma...).
I just read that HSBC predicts that the pound will drop to !.20 against the USD by the end of the year.
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Old 24-06-2016, 09:23   #49
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re: Grrrr..Brexit.

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Originally Posted by Saleen411 View Post
I just read that HSBC predicts that the pound will drop to !.20 against the USD by the end of the year.
We'll see. If it does happen, it will be great for the U.K. economy -- immediate boost in competitiveness. Dampen demand for imported goods and services, and boost exports.

Who knows, it might even be possible to buy an Oyster for less than $2 million. Imagine the boom in sales
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Old 24-06-2016, 09:35   #50
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re: Grrrr..Brexit.

The EU as a free-trade zone is a great concept.
The EU as a centralized political entity; not so much.
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Old 24-06-2016, 09:37   #51
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re: Grrrr..Brexit.

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We'll see. If it does happen, it will be great for the U.K. economy -- immediate boost in competitiveness. Dampen demand for imported goods and services, and boost exports.

Who knows, it might even be possible to buy an Oyster for less than $2 million. Imagine the boom in sales
I'm just looking forward to affording more pints on my LHR layovers.:big grin:

Paying $25 USD for one beer and an order of fish and chips at a pub like Two Tons is just TOTALLY unacceptable. No way Jose! Does'nt even matter that the fish and chips includes a spoonful of mushy peas on the side.

Seriously.....I do hope that if there is such a drop that it does indeed benefit the British economy.
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Old 24-06-2016, 09:44   #52
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re: Grrrr..Brexit.

Here are real world issues.

I have an Irish friend who moved to Spain with a healthy pension package after 30 years of work.
Ireland had issues and now he only gets 1/3 of his package.

My income is in Sterling. The exchange from sterling to Euro is positive and I receive a good return. Now for those on fixed incomes living in Europe, (Pensions, retirement etc from the UK) a parity of the Euro and sterling will make it harder to afford health care and all the general amenities. UK runs a real risk of seeing a large percentage of expat returnees....

Exchange rates are always a concern when pensions are paid from one country to the other.

When the second largest contributor to the EU pulls out, then it puts a question mark on the viability of the concept.

It will be what it will be. I prefered the single market concept as it made my life easier. Now I face changing residencies and visas and work taxations etc....

Vida loca.
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Old 24-06-2016, 09:48   #53
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re: Grrrr..Brexit.

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The EU as a free-trade zone is a great concept.
The EU as a centralized political entity; not so much.
Pretty much what 750 million Europeans think too, only 65m got the chance to say so yesterday and 17m decided enough was enough.

For sale: 42 year old European Membership Card bit dog eared but in one piece and comes with extra rights to keep own currency. Apply HM Queen.

Wanted: Copy of Australian Immigration Points Policy and the rights to copy and implement.

By the way I think most of the UK are still in shock as everyone thought it just wouldn't happen, really does beg the question of who is next? Dutch, Danes?
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Old 24-06-2016, 09:49   #54
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re: Grrrr..Brexit.

Quote:
Originally Posted by Saleen411 View Post
I just read that HSBC predicts that the pound will drop to !.20 against the USD by the end of the year.
Quote:
Originally Posted by Dockhead View Post
We'll see. If it does happen, it will be great for the U.K. economy -- immediate boost in competitiveness. Dampen demand for imported goods and services, and boost exports.

Who knows, it might even be possible to buy an Oyster for less than $2 million. Imagine the boom in sales
Perhaps you missed my history reference to the yen and peso?
Short term, bueno, long term, pues malo?
If your investments are in Sterling, a hint, the Mexican elites always seemed to get their 'stuff' into dollars, et al., before TSHTF. What have the Brit upperclass been up to recently?

As far as a sub-$2M Oyster, that's still a pretty small market segment, that many of us can dream of .
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Old 24-06-2016, 10:33   #55
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re: Grrrr..Brexit.

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Originally Posted by Tx J View Post
Perhaps you missed my history reference to the yen and peso?
Short term, bueno, long term, pues malo?
If your investments are in Sterling, a hint, the Mexican elites always seemed to get their 'stuff' into dollars, et al., before TSHTF. What have the Brit upperclass been up to recently?.
Sterling floated up and down against the Euro and Dollar before the election, why should a lower Pound for a while be a problem now? lower export costs and higher import costs (German, French and Italian cars ) will help the balance of payments.

Actually since the UK won't have to prop up the southern European countries you could argue that being out of the Euro is the safer option.
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Old 24-06-2016, 10:53   #56
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re: Grrrr..Brexit.

Achtuallly.................
Itsz a gud thingy.. never hads so many free drinksh in conshualtion here in Spain in my life...

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Old 24-06-2016, 11:10   #57
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re: Grrrr..Brexit.

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Originally Posted by sailorchic34 View Post
But, But.... Number 6 was not a number.

What interesting times we live in. UK leaving the EU, Folks in France and and Italy wanting to leave the EU too.

Makes Trump for president look not to bad......Oh wait, it's still bad.
Well Number 34, glad somebody got the ref. As far as Nov, surely a big majority will smell the towerful aroma of the orange-hued BSer and choose wisely.

Quote:
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Sterling floated up and down against the Euro and Dollar before the election, why should a lower Pound for a while be a problem now? lower export costs and higher import costs (German, French and Italian cars ) will help the balance of payments.

Actually since the UK won't have to prop up the southern European countries you could argue that being out of the Euro is the safer option.
Pete7, the last decade or so it's floated low range. The Mexicans and Japanese figured that might be a good thing too.
The only thing that prevented a complete dissolution into chaos for Mexico was a strong wage differential with the US. And an effective grupo-droga takeover.
Will the UK's citizens accept something like that if it comes to it? The average 'zen, not we yachties (to some degree...)?
There are certainly many other factors, this could be a bad breakpoint; or not.
I'm certainly not a EU expert (but I watch the BBC ), but I had a birds-eye view of MX for many decades.

Yeow, the US Dow is off ~600 points...
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Old 24-06-2016, 11:15   #58
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re: Grrrr..Brexit.

Being totally suspicious of politics, what better way to leave a post as an 'honourable' Prime Minister having given Britain the chance the 'choice' and then resigning immediately as 'the right thing to do and let another lead Britain in the exit'.

er...?

Pass the salt Pete....
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Old 24-06-2016, 11:21   #59
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re: Grrrr..Brexit.

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(but I watch the BBC ),.
Very biased left wing organisation that should be dissolved and nearly was last summer

The vote was swung on the blue collar workers in the north of England finally deciding they have seen no real benefit from being in the EU so chose the unknown, risker and possibly more expensive option. Do not under estimate the concern at the lack of action over immigration, ridiculous red tape and gross waste of money in the EU.

Pete
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Old 24-06-2016, 11:22   #60
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re: Grrrr..Brexit.

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The EU as a free-trade zone is a great concept.
The EU as a centralized political entity; not so much.
Absolutely true!
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