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http://www.telegraph.co.uk/finance/f...bt-spiral.html
What in Gods name is holding the £ UP?????
Mike
What in Gods name is holding the £ UP?????
Mike
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Re: The British get TOLD YET again!
Dare I suggest the proverbial "stiff upper lip" ...Originally posted by Mega View Post
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Re: The British get TOLD YET again!
Welcome back, Mega!
I think the forces holding the pound up are in the hands of whomever is selling a lot of stuff to your neighbors, those Brits
. I mean, ... who in their right mind wants to accept less value for their goods by letting the pound fall? Just IMHO, I am not an economist, nor should anything I say be accepted as truth. If you believe what I say, your fate is in your own hands. Since I am one of those Yanks, I can say the same thing about the dollar, and who wants the dollar to maintain its inflated and overly high value? Our fates are not our own, but that secret needs to be hidden lest our common folk figure out the truth.
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Re: The British get TOLD YET again!
Nice to see you back.Outside of a dog, a book is man's best friend. Inside of a dog, it's too dark to read. -GrouchoComment
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Re: The British get TOLD YET again!
Welcome back, Mega.Originally posted by Mega View Post
As for what is holding the pound up? The obvious answer is fiat currency from other countries, especially America. This is an on-going competitive de-valuation worldwide, so we all go down-the-toilet together.Comment
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Re: The British get TOLD YET again!
Glad you are feeling better!Originally posted by Mega View Post
I guess time lag. Inertia can make things last a long long time after the party is over.
You may be amused by this animation of the decline of empires over the last 200 years. Why the US empire is not shown, I can't fathom. Maybe it is so big it doesn't fit in the screen? I've watched this four times and catch some new detail each time. Fascinating.
http://vimeo.com/6437816?hd=1Comment
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Re: The British get TOLD YET again!
Originally posted by Mega View PostNow we know what Mega's been up to...U.K. Royal Mint Quadruples Production of Gold Coins
Nov. 19 (Bloomberg) -- The U.K.’s Royal Mint, established in the 13th century, more than quadrupled production of gold coins in the third quarter after demand for the metal increased as investors sought to hedge against a weakening dollar.
Output rose to 32,735.8 ounces from 7,500.2 ounces a year before, according to data obtained by Bloomberg News under a Freedom of Information Act request. Production in the first nine months more than tripled to 100,391.3 ounces, the data show...
...The mint’s use of silver rose 56 percent from a year earlier to 94,343.3 ounces in the third quarter, the figures show. Production in the first nine months increased 31 percent to 270,382.6 ounces...
...When pressed, Royal Mint officials confirmed that the increased demand was coming from Liverpool. Inquiries by the local constabulary resulted in the discovery that most of the coins were being shipped to the business address of an engineering firm specializing in custom metal products. Mint officials stated there was no truth to the rumours that the coins were being remelted and turned into hardware, and went on to make this observation: "Blimey, we can't understand why anybody in Liverpool, or anywhere else, would want to hold our gold coins instead of real British Pounds"...
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