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What is happening to money

4022 Views 11 Replies 7 Participants Last post by  Pusser
I have just read an article which covered something I was not aware of and although I know I grind on some members for talking about it, I hope that one or two will consider these points.

Apparently, and historically, when countries borrow large amounts of money one of the ways to reduce the payment is to devalue the currency that you borrowed, in our case sterling.

But, if we have borrowed in dollars, the Yanks will be and already are devaluing their currency so there is less to pay back and figures look better than they really are.

It also seems that if a recovery is on its way, then industry will be needing to make things and things being made need commodities and so commodities have to be mined and so it may be an idea to consider commodities with a view to making or at least stopping your money devalue in the next 12 months.

Historically, when the dollar goes down, gold goes up, and silver follows and often other metals are influenced. Copper is meant to be the best indicator of the worlds manufacturing needs.

So i do not intend to say what you should do but merely to be aware of what is likely to happen and wonder if it would be sensible sticking a bit away to hedge against the worlds devaluing currencies.
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Huh!!? :?

I'll stick with the piggy bank. :D
Funnily enough this just dropped into my EMail inbox from Crown Currency:

"Yesterday Mervyn King Governor of the Bank of England talked the pound down by explaining the English economy is going to take a long time to get back to normal.
Currency experts believe the he is trying to devalue the Pound against the Dollar and the Euro. When he spoke yesterday he knocked the Dollar against the Pound down from 1.5350 to 1.5100.

SO BUY YOUR DOLLARS WHILE THE RATES ARE HIGH!
We are offering...

US Dollars up to 1.5310
Euros up to 1.1295"

psssst Pusser, wanna buy some copper pipe sshhhhhh? :twisted: :twisted:
Telbell said:
Funnily enough this just dropped into my EMail inbox from Crown Currency:

"Yesterday Mervyn King Governor of the Bank of England talked the pound down by explaining the English economy is going to take a long time to get back to normal.
Currency experts believe the he is trying to devalue the Pound against the Dollar and the Euro. When he spoke yesterday he knocked the Dollar against the Pound down from 1.5350 to 1.5100.

SO BUY YOUR DOLLARS WHILE THE RATES ARE HIGH!
We are offering...

US Dollars up to 1.5310
Euros up to 1.1295"



All that stuff is beyond me :roll: Although it's useful to have a better Euro rate - and dollars as well, as we are contemplating a trip to th USA sometime this year.

But Tel, tell me (sic) who are Crown Currency, and what organisation (apart maybe from UKIP :roll: ) refers to the pound and the "English" economy - I thought we were part of the UK, ie England, Scotland, Wales & NI.
b16duv said:
psssst Pusser, wanna buy some copper pipe sshhhhhh? :twisted: :twisted:
I could do with a church roof. Something to pray under when we start trying to pay our way out of this mess. :D
Funny you should say that Pusser,I happen to have just such a thing,the local church didn't want it anymore so I offered to look after it. 8) 8) 8)

tony
Hi Mike

Who are Crown Currency?

http://www.crowncurrencyexchange.com/

You can order currency in advance at a set rate-minimum of £300 worth I think. I've ordered some to be delivered end of May. Since the savings interest rate is Naff I'm not losing much by buyiong in advance but gaining as regards the Exchange Rate

Perhaps as the Governor is of the Bank of ENGLAND he can only speak for England? :wink:
I was never any good at finance, but we went to Morrisons today, and I normally have a ham shank @ 1.79 it was good value, now 1.99, small roast chicken now 3.99 and I've been noticing increased prices everywhere lately, has anyone else?

Kev.
Pusser said:
I could do with a church roof. Something to pray under when we start trying to pay our way out of this mess. :D
How about a corporation tax rate of 90% for the financial 'services' industry?
I've been noticing increased prices everywhere lately, has anyone else?
I leave the food purchases to OH in the main but clothes seem to holding their lowish prices- three quid for Jeans (or a tenner at M&S) and £1.99 for T shirts-by kind permission of the sweat shops no doubt.

We were in a "posh" part of the Cotswolds last week and in some of the shops a man's "Andy" cap can still be had for forty quid, a suit for £400, and a pair of nice shoes for £165 8O
We have friends in Henley and each time we go there I am dragged around by the scruff to visit Oxfam and charity shops. I bought a fanatatic book with hand stuck photos of famous paintings produced by Charles Letts who is famous for diaries. £16 quid and such a lovely book. I would have paid £50 for it and that's not know how much it is worth. Might be worth £1000's. 8O Just going to google it. 8)

But my point is for ladies and that is if you want what looks like brand new, and designer clothes\shoes etc, that must have cost hundreds originally, then Henley is the place to go.

I am hoping to get a bustiere on my next trip. :p
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