Saving the Pound

[peakman]

By definition this excludes the option of ditching it in favour of the euro. That the euro will die is another reason to stick with our Pound Sterling. The title of this new thread/discussion/no discussion says it all. Save it or better still "Save them". There is no easy way to say this but the fact is we can not buy ourselves out of the mess we find ourselves in. I mentioned in reply to yord back on in the old place, the phrase "Cold turkey" and that is exactly what we must pass through if we are to save the Pound, and ourselves.

Gordon Brown never was the embodiment of "Prudence", "Robber baron", yes "Prudence" never. But the values he chose to camouflage himself with are the values we now have to embrace. Make saving a good thing, insist upon value for money when dealing with taxpayers money, and begin to drastically cut public expenditure.

Do this and the Pound will soar, as foreign money flows back in making imports cheaper. Exports? What exports are we talking about? Do we export anymore? Yes, a period of austerity, but there is no other way, whatever any labour politician may tell us to the contrary.

[yord]

foreign money will not flow back in . Theres is nothing to up the economy with that can not be realised outside the UK at a lower cost and greater efficency.The pound is a dying terminaly sick currency

[peakman]

You could well be right yord. I'm trying to be optimistic.

[Brittles]

There used to be a monthly announcement on something once considered 'the financial state of the nation' - it was commonly called the Balance of Payments.

Seems to be long forgotten and cast into the pages of history. Obviously far too embarrasing to publish.

As far as the current low state of the Pound, well they lower interest rates every month these days and the lower they go the less foreign money comes into the country so the Pound loses value against a basket of currencies, the most important - and noticeable to ordinary folk being the Dollar and the Euro -

Low interest rates to encourage consumer and business borrowing from banks who won't lend.

Low interest rates to encourage a credit splurge - the very thing that caused all the trouble in the first place.

Its got me f**k*d.

[cllrpeterevans]

The Pound is better placed to survive than the Euro. This is because the Pound has assets backing it and is managed by our Bank of England and has a significant reputation for stability with the strength to recover difficulties.
Whereas the Euro is subject to the decisions of several countries which makes decision-making slow - therefore placing it at a major disadvantage when quick decisions are necessary. It has not been established long enough to acquire a strong reputation either way. If things became difficult it would mean cashing in the Euro in the country where it was issued. It has no central bank to govern it.

[yord]

"the Pound has assets backing it"

What assets are these your talking about ?

[feral]

The Pound is better placed to survive than the Euro

I think the euro is better placed to survive than the pound actually.That apart from existent or non existent assets .For the simple reason that it isn't just one country and one central bank backing it .

[yord]

We have no gold and no exports worth speaking of , there is feck all supporting the pound , the question should be why the feck would europe want us in the euro ?

[peakman]

Jan 12, 2009 23:36:12 GMT cllrpeterevans said:

The Pound is better placed to survive than the Euro. This is because the Pound has assets backing it and is managed by our Bank of England and has a significant reputation for stability with the strength to recover difficulties.
Whereas the Euro is subject to the decisions of several countries which makes decision-making slow - therefore placing it at a major disadvantage when quick decisions are necessary. It has not been established long enough to acquire a strong reputation either way. If things became difficult it would mean cashing in the Euro in the country where it was issued. It has no central bank to govern it.

"Bank of England and has a significant reputation for stability with the strength to recover from difficulties." Are we sure about this?..."strength to recover from difficulties" So why are we borrowing or about to borrow, billions from other and external sources?

[peakman]

Jan 13, 2009 12:52:33 GMT yord said:

We have no gold and no exports worth speaking of , there is feck all supporting the pound , the question should be why the feck would europe want us in the euro ?

Remove the Pound Sterling from the European scene, incorporate the British army into a European army, (along with our Nuclear subs etc) finally do away with our Parliament (well on the way to that) and God bless her, pack the Queen off to Oz or some such place . And hey! The E.U. will have done what Hitler failed to do. Except that the E.U. will go the same way into history as did Hitler's "Third Reich", as a "nearly" but "not quite".

[peakman]

Germany is to take the radical step of changing its constitution in order to ensure excessive public borrowing is prevented, the country's chancellor, Angela Merkel, announced on Tuesday.

euobserver.com/9/27403/?rk=1

[peakman]

What is Frau Merkel up to? Surly not a divorce. But when survival is at stake, principles come in at second place.

[justmyopinion]

Jan 14, 2009 9:58:20 GMT peakman said:

Germany is to take the radical step of changing its constitution in order to ensure excessive public borrowing is prevented, the country's chancellor, Angela Merkel, announced on Tuesday.

euobserver.com/9/27403/?rk=1

A country with greater national debt than the UK, even now

[yord]

"A country with greater national debt than the UK, even now"

Eh you got figures for that ?

[feral]

Depends where you read .
Wherever you read,Germany's national debt is €1,5 trillion = 67,9% of GDP
Uk's varies however depending on what you include in it .
If you do an Omni / Gordon Brown count it's £487 billion .
If you count like everyone else it's £1.3 trillion = 103,5% of GDP .
Take your pick

[feral]

They should never have knocked down the Berlin wall

[omnipleasant]

Who gives a cack about the value of the pound apart from fcuknut City b*nkers?

National Debt - if you believe the facts - ONS, OECD, IMF etc - we have the lowest public debt in the Western world.
If you believe the Tory Press Office and their media, we have a higher debt than Hitler's Zimbabwe or summat.

[feral]

Who gives a cack about the value of the pound apart from fcuknut City b*nkers?

I would think you might when you're still earning the same but the cost of everything goes up cos the pound is worth less

[yord]

"Who gives a cack about the value of the pound apart from fcuknut City b*nkers?"

For someone that lives in the UK , a country totaly reliant on imports, your a fecking idiot

[omnipleasant]

Eh? The pound falling in value against the Euro or Yen won't affect me in the slightest unless I want to go shopping in Paris or Tokyo.