£ - Peso .... Latest

[somebody]

Well the European report yesterday on Britains finances and that we will have the worst debt per GDP in the world has seen the £££ crash .....thanks Gordon....it did hit 1.65

I would have thought your going into Gold if the Chinese carry on as they intend getting rid of the dollar as standard trading currency.

we missed a great ten year anniversary of browns

http://news.sky.com/skynews/Home/Bus...=searchresults

[KeithD]

I would have thought your going into Gold if the Chinese carry on as they intend getting rid of the dollar as standard trading currency.

Gold has been overbought the last 18 months.

As for China, their currency value is tied to the $$$$ in order to keep up the high levels of business with the US which feeds the Chinese economy. It would be a disaster for them if they changed that.

The Euro is in a strong position to do that but it makes no economic sense.

[somebody]

Gold has been overbought the last 18 months.

As for China, their currency value is tied to the $$$$ in order to keep up the high levels of business with the US which feeds the Chinese economy. It would be a disaster for them if they changed that.

The Euro is in a strong position to do that but it makes no economic sense.

So why they pushing so hard for a new reserve currency? A bit of short term pain for long term gain. THe Chinese ecomony from what i read is still growing even with the US and most of the worlds ecomonies declining.

http://news.bbc.co.uk/1/hi/business/8120835.stm

Im told by people who understand this all far better than I do. That people with mucho dollars are looking elsewhere and mainly at resources and of course gold.

Plus the UK and US will at some point need to inflated like crazy to reduce both national and indivudals debt. Good or necessary for the country but possibly not for those holding the dollar or pound as investors abroad.

I have this image now of the UK expanding and then suddenly getting caught by the wind hopefully it will land somewhere need phill
It would save us all on travel

A matie who hedges (may get him over to do the garden ) when we were at the cricket yesterday on a jolly sent me this link
as i was asking about how the money malarky is going and whats likely to happen. With me going at some of his waffle and it getting to deep while we enjoying the day as the weather got nicer as it went along

http://www.rgemonitor.com/blog/roubini/


Intresting reading on the way back and I was like who is this matie another nut case

http://en.wikipedia.org/wiki/Nouriel_Roubini

He seems to have some understanding and backs up what i hear from many sources and read elsewhere.

Also backs up what our work forecasts say which are very accurate i have found when looking back.

The worrying thing is everyone keeps mentioning the W and we are bang in the middle Even heard one of those dragons mentioning in a TV interview the other evening. Sounds like wheter true or not everyone is talking themselves into it and could the UK and US go though another big plunge

Anyway sod all this im off to enjoy the sunshine at least thats still free