mcmonkeyplc wrote:Erm, didn't the ERM fall apart when the currency markets worked out how to play them for profit, back in 1992? Why do we need to learn that lesson again? |
This is starting to get a little scary • Page 385
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brokenkey 11,128 posts
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brokenkey wrote:
WE fell out of it. The rest of Europe did not and it existed in some form until the Euro was created in 1999.
mcmonkeyplc wrote:
Erm, didn't the ERM fall apart when the currency markets worked out how to play them for profit, back in 1992? Why do we need to learn that lesson again?
The debt is heavy but the deficit is not.
I stand by my original solution. 2 Euro zones. 1 core and 1 periphery with an ERM type mechanism to align them and bring them together eventually.
It still exists now with some non-Euro EU members.
It's basically just pegging your currency to the Euro now.
Edited by mcmonkeyplc at 10:43:45 07-01-2015
Edited by mcmonkeyplc at 10:44:14 07-01-2015 -
brokenkey 11,128 posts
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Registered 20 years agoSo all of the disadvantages of fixing your currency/economy, with none of the advantages of a single currency? -
Did you read what my suggestion was or did you just focus on the letters ERM? .gif)
It's a batshit idea but the ERM style thing is the least of it's problems.
Edited by mcmonkeyplc at 11:04:55 07-01-2015 -
spindizzy 7,755 posts
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TheBlackDog 1,114 posts
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Registered 9 years agoThe question is what do the SNB know about what the ECB are planning for their next round of QE -
spindizzy 7,755 posts
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Registered 17 years agoLeoliansBro wrote:
? At some point they had to stop...
How like the Swiss. -
infoxicated 1,509 posts
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Registered 19 years agoThe economy has more holes in it than Swiss....
//gets coat -
urban 13,148 posts
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Registered 17 years agoMade my chuckle. -
sport 17,064 posts
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Registered 16 years agoLeoliansBro wrote:
Nazi gold. Swiss have been planning this for years.
Is it?
Why? -
Load_2.0 33,582 posts
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Registered 18 years agochun-li wrote:
Lol.
Gold prices rose as the SNB removed the cap on the Swiss franc's euro exchange rate
Interesting. -
Sponz 702 posts
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Registered 17 years agoThanks very much SNB, now it doesn't cost me so much to send Pounds back to Blighty.
Chaos in the main FX bureaus in Geneva earlier as the Frenchies who work in Swiss, who get paid in Francs, panic rushed to get them changed into cheap Euros. -
BOOM
On top of that, the UK regulator seems set to impose a fine of sixpence and a letter asking them not to do it again.
Edited by Bremenacht at 15:30:58 20-05-2015 -
Rivuzu 18,424 posts
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Registered 15 years agoWelp. Another whipping then that'll be felt across all workers of the banks, even if they weren't responsible. -
StrayBezza 1,218 posts
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Love the choice of language. "Small cartel of rogue traders we had no idea this was happening. We would never encourage this behavior obviously lack of oversight, a few bad eggs and what have you." -
Benno 11,854 posts
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Registered 16 years agoFTSEs in the 5000s now. Time to buy up your index funds people -
richarddavies 8,312 posts
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Registered 13 years agoI don't know what any of that means. 
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Benno 11,854 posts
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Registered 16 years agoThe FTSE 100 index tracks the stock price of the top 100 firms on the London Stock Exchange ordered in terms of size. Its essentially a proxy for their valuation. It was 7000 in April (when I got paid my annual bonus), and is now in the 5000s. If you're under 50 its great news, as its an opportunity to buy stocks on the cheap while everyone else is shitting themselves and trying to liquidate. -
Blaketown 5,658 posts
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Registered 14 years agoUnfortunately I have to buy school uniform for my sons this month so I'm unlikely to be buying stocks.
Edited by Blaketown at 13:20:09 24-08-2015 -
Dirtbox 92,595 posts
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Rivuzu 18,424 posts
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Registered 15 years agoAs someone who dabbles playing with spread betting, I'm staying the fuck outta the FTSE till that shit calms down. Holy hell. -
Benno 11,854 posts
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Registered 16 years agoWho really knows what's happening. Although looking at it now, the FTSE is 20% down from its April high, which sounds more like a crash than a correction. -
convz 1,239 posts
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Registered 10 years agoRivuzu wrote:
I haven't any done spread betting for years, but today I planned out a number of trades for when the US markets opened. Ayondo screwed up and lost my deposit. Would've made so much so I'm pretty gutted. It's tantamount to gambling though and I guess it could have just as easily gone the other way.
As someone who dabbles playing with spread betting, I'm staying the fuck outta the FTSE till that shit calms down. Holy hell.
+1 to Benno about topping up your index funds, I think this is a good time to buy. Better than at any other point this year anyway! -
FWB 56,369 posts
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Registered 20 years agoGood news for those of us on tracker mortgages. Selfish, I know. -
Pardon my stupidity here but how will this effect tracker mortgages FWB? Do you mean that rates will likely be kept low as a result of this crash?
.gif)
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