Brexit Deal

[MaserCoupe]

UK = laughing stock of the world today... quite a sad state of affairs.
I am still shocked when I hear people arguing we do not need a deal or a soft brexit, and that we are much better off saving ourselves the £50b Brexit bill.
If we go WTO terms, watch the trade deficit due to import tariffs, GBP collapse etc... and the budget deficit due to higher unemployment, higher cost of public service, and likely lower tax receipts etc...
Both deficits which are annually worth around £100bn combined today (slight rounding) are more likely going back to where they have been on average for the past 10years (£140-180bn)...
That 1-off £50bn will feel like the bargain of the century.
But hey - who cares right, some hard line brexiteers will tell us that the office of national statistic cannot be trusted, that it has nothing to do with Brexit as the world economy was slowing down anyway, and that we are open for business because the world is dying to make deals with the UK (as we have one of the lowest productivity in Europe currently).

And in the end who cares, future generations will clean up the mess (just like the debt and the polluted world we are leaving them with).


Afterall the UK was a great empire hundreds of years ago and doesn’t need anybody. (So was France, Spain, Portugal, Greece, Egypt etc... centuries ago... look at them now

Oooops - I forgot to take my pills again... didn’t mean to rant

I couldn’t agree with you more! Doubling down on the lies, it’s laughable if it isn’t so scary. Facts hurt and Comforting lies don’t eh.............imagine now how people will feel when Robert Mueller pulls a Putin rabbit out of the hat with his investigation.

 

[rivarama]

imagine now how people will feel when Robert Mueller pulls a Putin rabbit out of the hat with his investigation.

Fake news, fake news, fake news!!! Hey people look over here on the left!! I am ordering 300burgers to feed my lovely and starving staff because of the nasty shutdown I am trying to save the country from... fake news, bad press, conspiracy theorists- I am the victim of a witch hunt.......

 

[MaserCoupe]

You only have to pull a map out and see the world and see how this has and is being played Geo-politically.

 

[Wattie]

That statement is very “smart” or you’re really just missing my point...
I was merely calling the double exposure to both the underlying asset (gold) AND the currency (gbp) if un-hedged, which you had failed to point out.
Re-read your original post, if you truly have been a professional investor for 35years, you will understand that it was incomplete and therefore incorrect. If you don’t see that, it might be time for you to retire from the financial industry (unless you are happy to fund other traders’ profits )[/QUOTE
If you’re referring to


“She isnt that clever.
Now we're trying to dress incompetence up as "cunning logic" and yes I do think that she and her advisers are that stupid.
Look at the deal, look at the legal advice, look at everything they've botched and look at all the resignations from those advising her.

I'm not sure they had a ******* plan A, let alone a plan B!!!

Oh and i'm no JC supporter but i dont believe at this point it could get any worse than the shambles we are witnessing.

Re Sterling hedges as it's tanking and will do until the uncertainty subsides you may wanna think about Gold...done very well since the exit vote”

Then you”ll note the “you may” aspect. It wasn’t anymore than an investment suggestion.

As such, it didn’t cover any technicalities or risk/reward analysis, nor suitability for investors nor did it have to. That is for individuals to asses on their own.
Indeed, I didn’t suggest it was the only solution.
With your “If we go WTO terms, watch the trade deficit due to import tariffs, GBP collapse etc” I stand by my “you may wanna think about Gold...done very well since the exit vote” as one way investors may protect themeselves from a gbp collapse.

Seems I’m not alone in this thinking
https://www.bloomberg.com/news/arti...urs-u-k-investors-to-buy-gold-royal-mint-says

https://international-adviser.com/massive-324-surge-in-gold-demand-ahead-of-brexit-vote/

 

[zagatoes30]

FFS 600 **** wits and not an ounce of common sense or decency between them.

OK you don't like the current offer well get your finger out and help come up with alternatives

 

[GeoffCapes]

Exactly my point, hence your original comment is factually incomplete, and hence partially true/wrong.
So is your comment “all time high in 72 countries in the world”... is that when translated in those countries’ local currencies? As gold is nowhere it historical high is USD term (the only official reference currency for gold)
I guarantee that if you buy gold today, even if it doesn’t move at all in usd term (again, the reference currency for gold) you will still get a nasty haircut if the GBP recovers from its historical low...
if you really want to hedge your FX exposure, do it with the right tools. But what do I know, I have only been trading FX for 15years ;-)

This is exactly the reason I always traded Gold (and other metals) in USD.
Currency fluctuations can remove any profit you might think you have banked.
Always always always trade commodities in the currency (normally USD) they’re traded in.

 

[Wack61]

FFS 600 **** wits and not an ounce of common sense or decency between them.

OK you don't like the current offer well get your finger out and help come up with alternatives

What alternatives, pay your protection money or we'll **** you up , that's how it looks to me, a club you can't leave.

 

[CatmanV2]

Oh we can leave. It's just there's no consensus on which door we should use....

C

 

[daverichardson]

The Conservative party have always and will always be suicidal. Individuals dress up their actions to justify themselves. I am happy May is still in power - sort of. I am happy she is still after a break from Europe as the people voted in the referendum. I am not happy with 600 or so MPs that put themselves first.

 

[MaserCoupe]

Let’s not overlook though, If the Brexiteers in the party were united in how/what they want in leaving this would play out differently.......and of course that half the country (electorate) didn’t want to leave

 

[lifes2short]

what we need is a second referendum, as I mentioned before quite a number of people were totally clueless about the full implications of Brexit and were tunnel visioned with immigration, borders, bla bla bla and not looking at the bigger picture, the good thing about this whole sorry fiasco is that people now know hopefully the full ramifications of leaving and would probably and/or hopefully vote remain, sh1t I mentioned brexit

oh edit: by the way Corbyn is complete trouble making tosser

 

[Felonious Crud]

Oh we can leave. It's just there's no consensus on which door we should use....

C

Or what's on the other side of each door. Perhaps a verdant valley of voluptuous singing maidens. Or maybe a fireswamp.

 

[MaserCoupe]

Nothing un-democratic in pressing pause to check with the country, be sure, then pull the trigger to what it wants. People can and do change their mind, so let’s check and be sure. Democracy doesn’t stand still in one small window in time but rather a constant thread, it is a healthy democracy when issues are debated, scrutinised and allowed to breath. So any erosion to the mechanisms of checks and balances is a clear signal that things aren’t right or healthy.

 

[zagatoes30]

More scaremongering news from the BBC

https://www.bbc.com/news/business-46891186

Although it is probably factual this would be a two way street and any EU drivers coming here would need to abide by similar rules.

 

[BennyD]

Back to the good old days.

 

[Hurricane52]

As far as I understand it, only 72 percent of registered voters voted in the referendum, so saying half the country wants out or in, is misleading. Nearly a third of the voters either couldn’t be arsed, probably a lot didn’t know who to believe and quite a few had a bad cold.

In my world, building conservation, all the politicians I have met (MPs and Welsh AMs mainly) have made a proper mess of even the smallest remits, so they have no hope of sorting out something as complex as this.

Oops. Just wasted another five minutes of my life.

 

[D Walker]

Back to the good old days.

Yep, remember having mine, but then again, at least when you go on holiday you won’t get offered a hire car every 20 yards..

 

[Wattie]

This is exactly the reason I always traded Gold (and other metals) in USD.
Currency fluctuations can remove any profit you might think you have banked.
Always always always trade commodities in the currency (normally USD) they’re traded in.

I think there’s a lack of understanding here.

Gold prices on many exchanges are quoted in USD$, GBP or indeed other currency.....depending on what you are purchasing in.

Anything other than USD involves conversion at the appropriate exchange rate.
Computers do that for you......you just see the appropriate price.

If you buy at a price in GBP, you know that buying price. A
computerexchanges will then quote the current GBP encashment value of your investment. B as the market moves.
Up or down.
Daily, monthly, annually.

Compare A with B and make your decision.

A fool could do it.

 

[GeoffCapes]

I think there’s a lack of understanding here.

Gold prices on many exchanges are quoted in USD$, GBP or indeed other currency.....depending on what you are purchasing in.

Anything other than USD involves conversion at the appropriate exchange rate.
Computers do that for you......you just see the appropriate price.

If you buy at a price in GBP, you know that buying price. A
computerexchanges will then quote the current GBP encashment value of your investment. B as the market moves.
Up or down.
Daily, monthly, annually.

Compare A with B and make your decision.

A fool could do it.

But foreign exchanges change all the time, so gold could rise and you sell for a profit, but if the dollar rises against the pound then your profit is reduced.
Hence buying in the commodities traded currency. It's not rocket science.

Relying on a computer to convert the currency is also a fallacy as the trade will also include a conversion cost.
Spread bet or CFD on point rises and falls will negate that, but if you are buying the actual commodity always trade in the commodities traded currency otherwise you are also playing the currency market as well as the commodity market.

 

[lifes2short]

rees-mogg, what fooking ****, I mean was that necessary, they're acting like a bunch of school kids and does nothing to restore any faith in some of our politicians especially when they're playing with the UK's future

https://www.dailymail.co.uk/news/ar...sa-Mays-Commons-defeat-fellow-Brexiteers.html