Monopoly Money... it went through a change in recent years but I can assure you by the summer Kensington Palace Gardens (which replaced Mayfair) is still going to cost £4 million in Monopoly Money.

johnfás wrote:

Monopoly Money... it went through a change in recent years but I can assure you by the summer Kensington Palace Gardens (which replaced Mayfair) is still going to cost £4 million in Monopoly Money.

johnfás wrote:

I'm not a speculator, certainly not with money that isn't my own - prudence has to be the name of the game. If you are an organisation with a significant proportion of your paid staff in a particular jurisdiction you should be holding significant cash and other reserves in the denomination of that jurisdiction. It wasn't an easy thing to get home to people when sterling was so strong because if you ran a body that had interests both North and South you could live on the basis that the contributions from, and monies held in, the North would buy you far more in the South owing to the strength of Sterling. However, that is short term planning in the extreme.... and it is something which is coming back to bite this particular organisation now and unfortunately will result in a significant proportion of those employed by this particular organisation losing their jobs.

So STG should weaken is one upshot of the Quantitative Easing ?

As Slim Buddha just said, the Dollar is going netherwards because of the unemployement figures out today in America ... kinda goes to show you that a currency is based on certain fundamentals in an economy. Essentially now the British people are getting a grand each for free - it'll be like a bit of a holiday for them or will they stream that capital into growth industries or activities other than consumption ? It strikes me as possible that if an economy is varied enough, with plenty of different needs by different people then it could survive soem printing easily enough up to a point - which is where imports matter.

If the currency is weak then import prices should rise - specifically energy.

Euro up at 0.9240. If we see 0.9280 it should then go to 0.9400 and beyond. Interesting stuff.

Sterling?

1.00 EUR = 0.923895 GBP
1.00 EUR = 1.27094 USD

johnfás wrote:

1.00 EUR = 0.923895 GBP
1.00 EUR = 1.27094 USD

http://news.uk.msn.com/uk/article.aspx?cp-documentid=14974791

they started printing today... shows in the exchange rates. 2bn today

Wouldn't want to be exporting from here to the UK. Government should pump some of our non existent money into finding new markets in the Eurozone.

The term printing is a funny one because of course they don't print the money at all. The amount of cash (printed and minted money) as a percentage of the overall amount of money in a currency is very low indeed, a single digits in most cases!

You have to give them credit, they are doing something. Our clowns seem too busy watching Cheltenham to notice the place is collapsing.

johnfás wrote:

The term printing is a funny one because of course they don't print the money at all. The amount of cash (printed and minted money) as a percentage of the overall amount of money in a currency is very low indeed, a single digits in most cases!

You have to give them credit, they are doing something. Our clowns seem too busy watching Cheltenham to notice the place is collapsing.

and onward down we go.

Absolutely, Paddy the Plasterer had a good race yesterday.

johnfás wrote:

Absolutely, Paddy the Plasterer had a good race yesterday.

Not at base even now.