Brexit - why is Sterling dropping | Bitcointalksearch.org

markj113

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Quote from: tmfp on October 04, 2016, 05:45:28 PM

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Dont think the US is fairing any better, they added another $1.7 trillion in debt last year (3rd highest in history)

Sooner or later the shit will hit the fan all the while China and Russia are accumulating massive amounts of gold ready for the take over.

simpler2016

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Great Britain made a wise move when out of the EU. Yes, its economy will be some time in a fever, but it will take place soon. Currency sianet stable. And trade relations with other countries will be supported

tmfp

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"Common rogue from Russia with a bare ass."

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skinnyboy

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Sterling is dropping because that's probably what the banking infrastructure, who effectively set the bounds with in which other players may trade, have decided will happen.

In reality there are so many different factors that affect the relative value of any currency or commodity that's it's impossible to pin down any one thing.

As a side note, I noticed a couple of people claiming the UK is doomed, we're finished etc etc. I'm curious why those of you who think that right now seem to think that being part of the sinking ship that is the EU would help us.

Let's face it, the EU institution and it's insane currency are doomed. That doesn't mean Europe is & out of the flames might emerge something that looks like the remains of a EU, a smaller council, and a number of overlapping trading blocks across Europe.

Don't let anyone tell you we won't be trading with our European friends. We will continue to trade.

exscudo

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Nextgen Financial Ecosystem

Quote

you can't have faith in a future you know nothing about yet

Could not say it better! Your words really describe the current situation around the UK;)
The UK as one of the centers (or I would better say centres in this case Cheesy

) of world finances is struggling now just because it has always been such a centre and the funds it has operated with were there for the sake of the country's political and legal stability, easy EU-UK transactions and so on.
Will the UK cease to enjoy all its financial advantages for the sake of Brexit? Or will it find the way not to abide the decision about Brexit?
As for me, both ways are pretty bad for London, as it showed that its stability may vanish.

Yakamoto

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Quote from: Jet Cash on October 04, 2016, 06:01:31 AM

It seems to me that with a rosy future outside the collapsing EU, the pound should be going up. They say it is because the world believes that we will get a bad deal from our negotiations with the EU, but with the UK as a net importer of EU goods ( especially from Germany ), shouldn't the EU be coming to the UK to try to negotiate terms with us?

Effectively everyone is now worried because Theresa May or whoever it is in the current UK PM spot said that they have a general date for when they want to officially leave the EU and trigger Article 50, which they pegged at somewhere March 2017. This means that there is basically no hope of them staying in the EU now, and even though there was little before it has a more profound effect now that there is no chance.

As for the negotiations, Germany is probably going to spite the UK during trade deals and try and give them the worst ones possible, and a big issue is that the UK doesn't export to a ton of places in general. If there were more trade partners with the UK, chances are the market would be less nervous.

European Central Bank

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no market likes uncertainty and there's no market more speculative than currency. months later we still don't have a single clue what brexit is and what it's gonna mean for Britain and everywhere else. i'm not surprised there's not much faith in the pound. you can't have faith in a future you know nothing about yet.

exscudo

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Not going into much political detail, it seems to me that you may just profit from sterling swings caused by any - bad or good - Brexit news. So the basic idea is that the rate will restore from what it is now in the mid-term. The folks are now panicking about any Brexit-related article. However, fundamentally, the rate should be higher than today.

xht

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hey you, yeah you, fuck you!!!

Quote from: Jet Cash on October 04, 2016, 06:01:31 AM

It seems to me that with a rosy future outside the collapsing EU, the pound should be going up. They say it is because the world believes that we will get a bad deal from our negotiations with the EU, but with the UK as a net importer of EU goods ( especially from Germany ), shouldn't the EU be coming to the UK to try to negotiate terms with us?

Within a couple of months, most of the drama with the pound will have subsided. The question is: what will the rest of the world do when the see the sky never fell?

bitbunnny

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WOLF.BET - Provably Fair Crypto Casino

Now Brexit will be the cause and justification for all the bad things that will happen in Britain, including fall of the pound but I don't think this is true. The real cause is deeper in the economy and, it is not that simple and certainly this is not the problem only of british economy. The problem lies in whole Europe. EU was or maybe is scared of Brexit but I think that most British are scared too and now they wish they have decided differently.

jtipt

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Brexit alone isnt the reason for pound's fall it's because of several factors. Overall the while EU is currently not in a good position but because of brexit Britain is worse. Pound was going to fall sooner or later, brexit just acted as a catalyst.

Shiroslullaby

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Corporations are scared they will not be able to do business in the UK.
No one is sure what rules/ regulations will look like, if they will have to move employess/ headquarters out of the region,
if there will be additional taxes/ tariffs, etc

Uncertainty causes doubt,
which causes the currency to drop in value.

Hazir

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At this point whole European Union is in peril. Euro Banking sector is a disaster, it is not just Deutsche bank which is a goner, most of them are utterly broke.

We are facing serious crisis right now - this time it will all start in Europe. For now it is Pound and next week it will be €uro price drop.

And actually I am quite pleased, this will show how their rotten banking system really is. As a result people will flock to buy BTC.

Jet Cash

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As the world switches away from the US and moves towards Russia and China, the UK is in a strong position to follow that trend.

Trade agreements are made between companies, governments can only create trade barriers. I wish the government would stop messing with the EU, and just say goodbye. Let them come to us. And they could stop selling all our assets, and giving away the proceeds. The EU stole from Greece, lets stop the theft from the UK.

markj113

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Quote from: joe white on October 04, 2016, 08:47:36 AM

Sterling is dropping because a post Brexit UK is fucked.
If anyone believes the Tory propaganda that Britain will "Become Great Again" as a semi bankrupt post Empire island with nothing to offer anyone, they're in for a rude shock.
The idea that the mediocre team of has beens now in government will be able to negotiate any favorable bi-lateral trade agreements within two years is absurd.
It will be like trying to bluff at poker with a hand laid out on the table, and containing a pair of deuces.

So is the UK more fucked than the rest of the EU?

Germany with deutsche bank insolvent
Greece a mess
Italy broke
France broke

Its a case of they need us more than we need them so a beneficial deal will be negotiated.

Brussels is terrified that we make make Brexit a success because many other countries such as France will follow leaving Germany to pick up the black hole in funding financing the EU sponge countries.

joe white

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Sterling is dropping because a post Brexit UK is fucked.
If anyone believes the Tory propaganda that Britain will "Become Great Again" as a semi bankrupt post Empire island with nothing to offer anyone, they're in for a rude shock.
The idea that the mediocre team of has beens now in government will be able to negotiate any favorable bi-lateral trade agreements within two years is absurd.
It will be like trying to bluff at poker with a hand laid out on the table, and containing a pair of deuces.

yayayo

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I think that the EU is desperate to keep the UK in their economic sphere, because the UK is an extremely important market for them. Of course the EU muppets are not acknowledging this fact to avoid loosing face and to prevent other EU members from following the UK. I'm pretty sure that behind the scenes they will be negotiating very favorable terms for the UK, because they have no choice...

The Pound may be dropping now because of uncertainty and the blatant EU propaganda. I'm sure this trend will reverse in 3-5 years, when reality shows that the Brexit decision was a wise one.

Regardless the competition between various fiat currencies and their relative valuation, one has to be aware that none of them is a good investment. All fiat currencies are debt-based and have no real value. Devaluation and loss of buying power is inevitable if keeping fiat money.

ya.ya.yo!

Jet Cash

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It seems to me that with a rosy future outside the collapsing EU, the pound should be going up. They say it is because the world believes that we will get a bad deal from our negotiations with the EU, but with the UK as a net importer of EU goods ( especially from Germany ), shouldn't the EU be coming to the UK to try to negotiate terms with us?

Topic: Brexit - why is Sterling dropping (Read 784 times)