English Pound collapsing

[ssr]

They're stupid if they aren't.

But you don't believe that the US can go bankrupt, either...

(Based on your previous posts.)

You are going to be so surprised...and hungry...when the shit hits the fan...

And the shelves are empty...

Even if you still have a credit card.

You're always so cheery, Steve.

Anyway, from purely a tourist's perspective, I do hope that the dollar rises a bit against the pound and the euro so that traveling around Europe gets a bit cheaper. I guess the pound is pretty far down at the moment, though. While that certainly sucks for Brits abroad spending pounds, it does help British tourism and exports. I also saw a news piece on TV here about Irish folks heading to Northern Ireland to do their grocery shopping. So, a weakened currency isn't all bad. It's why we're all in Argentina, no?

 

[redrum]

is this imminent do you suppose? i have a fair bit of sterling in cash at home which i am exchanging a bit at a time as needed. would it be wiser to have it stored at home in pesos?

i would definitely not store any significant portion of your savings in argentine pesos. in fact, i would be leery about storing it in any fiat currency these days as almost all governments are inflating their currencies.

The dollar will most likely be the last major currency to fall since it is the world's reserve currency. In the meantime, as other currencies fail, say the pound or euro, the dollar will curry favor as investors seek safety but that safety will be short lived. There will most likely be a 30% to 50% devaluation of the dollar at some point in the future.

I would definitely have some of my savings in gold and silver as a hedge for what is coming. As the world's major currencies go down in value, your gold and silver coins will go up. You can purchase gold 1 ounce coins at banco piano on san martin en microcentro.

If the shit does indeed hit the fan then stocking up on food, water, medicine, guns & ammo or any other of life's necessities is a good idea.

 

[jp]

Not too worried about the pound. Its already devalued substantially against the euro and the dollar, can't see any particularly reason why it would sink dramatically.

Personally, I'd keep your sterling for now. Economic indicators are looking good, and historically sterling has held a lot more value than it currently does. I'd expect it to see it rise against both currencies in the mid term.

 

[orwellian]

Personally, I'd keep your sterling for now. Economic indicators are looking good, and historically sterling has held a lot more value than it currently does. I'd expect it to see it rise against both currencies in the mid term.

Economic indicators are looking good? Hahahahahahahahahahaa, ROFLMAO. What reality are you living in? Hold on to your Sterling will you. I will hold on to my gold.

 

[orwellian]

What does the United Kingdom produce. Does it even have any natural resources? .

They do now at the Falkland islands

 

[citygirl]

is this imminent do you suppose? i have a fair bit of sterling in cash at home which i am exchanging a bit at a time as needed. would it be wiser to have it stored at home in pesos?

I wouldn't necessarily recommend you base your financial decisions based on what is posted on BAexpats! In the past 3 years, there have been some..interesting assertions made. The complete collapse of the dollar, the going under of the Euro, the rise of a new global currency, etc. - all were predicted and guaranteed by posters here. As of yet, none have happened

That being said, having a diverse portfolio is never a bad idea. But I CERTAINLY wouldn't recommend you put it in pesos. That would be jumping from the frying pan into a huge fire. There is a reason no one here keeps their savings in pesos.

 

[orwellian]

In the past 3 years, there have been some..interesting assertions made. The complete collapse of the dollar, the going under of the Euro, the rise of a new global currency, etc. - all were predicted and guaranteed by posters here. As of yet, none have happened

Guaranteed? I don't think anybody, including posters on baexpats, can predict the future to that extent. What we can predict is that if the FED keeps printing money to monetize the enormous debt that no country now wants to buy, it will most likely lead to hyperinflation.
These things take time, just because they haven't happened yet doesn't mean they won't.

 

[elhombresinnombre]

I wouldn't necessarily recommend you base your financial decisions based on what is posted on BAexpats! In the past 3 years, there have been some..interesting assertions made. The complete collapse of the dollar, the going under of the Euro, the rise of a new global currency, etc. - all were predicted and guaranteed by posters here. As of yet, none have happened

</p>

Guaranteed? I don't think anybody, including posters on baexpats, can predict the future to that extent. What we can predict is that if the FED keeps printing money to monetize the enormous debt that no country now wants to buy, it will most likely lead to hyperinflation.
These things take time, just because they haven't happened yet doesn't mean they won't.

Time eh?
Who cares about dollars or gold or guns or food when I know that the Sun's going to expand into a Red Giant and the Earth's going to be toast? It's going to happen* - you wait and see if it doesn't.









*in about four billion years

 

[elhombresinnombre]

The english must be worried now...

Don't worry!

Old England isn't finished yet!

It's finished....


tick....


tick....


tick....




NOW!!!





(Virtual pint of Quilmes if you know where that comes from)

 

[malbec]

I would never believe any financial prediction, whether it is written here or stated by some of the so called financial 'gurus' who get always a lot of press. No one can know what will happen in the future, not even Soros or Buffet or whatever they are called.

The best thing is to spread the risks i.e. have some money in EUR, pounds, yens, dollars and even pesos (who knows...with a decent government and producing so much commodities). Plus some gold and a property somewhere (to have some chickens on it). Or any combination of that. Chances are that you're not going to make a lot of money, but you won't lose all if things go wrong.

That's why I would keep your pounds. You surely have some pesos, probably a property. Not that bad at all.