Brexit, for once some facts.

[trex]

I don't think currency speculators are responsible for the current effective devaluation of the Pound Rob. They usually come in and out for a quick profit.
This is the consequence of loss of confidence in the UK economy which faces a few years of uncertainty. Investors are spooked, withdraw their money and cause a run on sterling. The Pound has now lost more than 15% of its value compared to the day before the vote. If Mrs May does not put a stop to this and restore confidence, there is no way of knowing how low it will go.

 

[derf]

Do you honestly think our 'notice to leave' will come as any surprise to the currency speculators?

Only in the fevered imaginations of remainers is exit in any doubt, and even a lot of them are beginning to grasp what a referendum result means.

Although no doubt they will forever feel a crushing sense of injustice because the great unwashed had the temerity to disagree with them.

or they may sip schnaps on a sloop somewhere off villefranche sur mer. Ironically its the great unwashed in the uk that will pay the price for this decision.

 

[RobF]

I don't think currency speculators are responsible for the current effective devaluation of the Pound Rob. They usually come in and out for a quick profit.
This is the consequence of loss of confidence in the UK economy which faces a few years of uncertainty. Investors are spooked, withdraw their money and cause a run on sterling. The Pound has now lost more than 15% of its value compared to the day before the vote. If Mrs May does not put a stop to this and restore confidence, there is no way of knowing how low it will go.

To me, anyone who trades in currency could be described as a speculator, but they are only responding to a wide range of market forces or 'sentiment' as it sometimes described.

Some bad economic news - or some bad news generally - from elsewhere in Europe could knock the Euro.

Or something much more fickle could impact one currency or another.

It's why having a business closely dependent on the exchange rate is so risky.

 

[flecc]

Although no doubt they will forever feel a crushing sense of injustice because the great unwashed had the temerity to disagree with them.

Don't include me in this sweeping generalisation. There's been no injustice, the vote was to leave and there were obviously people from every walk of life voting that way for their own often valid reasons.

My position is simply that I believe it will be a costly mistake.
.

 

[anotherkiwi]

The US has fallen into decadence and only capable of perpetual war, the UK has committed economical suicide, the banks are using Greece as a high end pyramid scheme - "bail them out so they can pay us back". When Greece is done they will use either Italy, Spain or Portugal to continue vacuuming cash...

Lucky that here and there there are signs of human intelligence otherwise things would be pretty depressing. Looks like a fabulous year for red wine unless we get too many hail storms in September!

 

[Kudoscycles]

More patronising from remainers.

Only an idiot would think voting leave would do a lot, or even very much, to reduce immigration.

Easy to say the millions who voted leave are all idiotic racists, but that is not the case.

In a sample that enormous, there's bound to be many ordinary, decent people who formed their view for a wide variety of reasons.

If it was only knuckle-dragging racists who voted leave, remain would have won by a huge margin.

There were a lot of idiots who thought that once they voted leave very shortly afterwards the Poles would be sent back to Poland,we would stop paying the £8billion to the EU,Hartlepool hospital would reopen,the great unwashed would find paying jobs that they didnt have to work at,the nursing homes and hospitals would be devoid of EE staff but an army of keen and trained Brits would be waiting in the wings,all salaries would rise because the Poles are working too hard for too little money,hehe.....!!!!
Must question why those voters are not taking to the streets because of lack of action...the reason they are not is because they cant get themselves out of bed in the morning,putting the tick on the voting form was about as much energy as they could muster.
If their can of Special Brew or Turbo Shandy was increased by 10% there would be rioting on the streets.
Cameron gave these sort of people power and now the rest of us are dealing with the consequences.
KudosDave

 

[Kudoscycles]

Perhaps our success in the Olympics under the team GREAT BRITAIN says something about we were already a Great Union,not Great Scotland or Great Wales or Great Northern Ireland we are Great Britain and should be proud of it.
Do you remember when British Airways took the Union Jack off the tail fin and replaced it with ethnic art,big corporate mistake,soon changed back.
Do you remember when the Royal Mail changed its name to Consort (or something like that),big corporate mistake,soon changed back.
The rest of the world thinks we are idiots to keep trying to make our country smaller(Scottish referendum and Brexit) and take the Great out of Great Britain.
There are many even small/medium sized companies who are starting to make plans to move distribution depots to Holland or Belgium in preparation for May taking us out of the single market,if we trigger Article 50 it will be a big corporate mistake,not so soon changed back.
KudosDave

 

[Kudoscycles]

Is it in the BoE interests to have a low pound at the moment...continuing with Brexit means Brexit bringing interest rates down and Quantative Easing is all having a negative effect on the value of the £,the following would suggest that this is attractive to the government,maybe that reduces the government debt.?
The Bank of England has successfully procured £1.17BN worth of Gilts with maturity of 3-7 years - the success has pushed down Gilt yields and the GBP alongside.

• The Pound to Euro exchange rate today: 1.1509
• The Pound to Dollar exchange rate today: 1.2884
• The Pound to Australian Dollar exchange rate today: 1.6796
• The Pound to Canadian Dollar exchange rate today: 1.6647

Sterling has crashed yet lower against its G10 rivals with a fall below 1.29 in GBP/USD catching the eye.

A decline below 1.15 against the Euro now also looks to be on the cards.

The declines come as the Bank of England successfully purchases £1.17BN worth of government bonds (Gilts) with a maturity set between 3 and 7 years.

The auction took place between 2:15-2:45PM and saw the Bank find no shortage of offers:

• Total offers received: Stg 4,140.8mn
• Total offers accepted: Stg 1,169.8mn
• The cover ratio in the competitive auction was therefore 3.54
  In the operation overall, total offers accepted, in terms of total proceeds,
  were Stg 1,169.8mn

As a result, the yields on those Gilts remain near record lows.

This in turn diminishes currency inflows as global investors opt to seek yield elsewhere in the world, thereby placing downward pressure on the UK currency.

The biggest driver of Sterling over the course of the past seven days has been, without doubt, theBank of England's actions in the Gilt markets.

We believe that the Bank's actions, as well as the notable economic data docket available, will be the main driver of Sterling valuations over the course of the next five days.

August has brought with it the commencement of the BoE's quantitative easing programme - the process whereby the Bank is looking to suck up £60BN in government bonds from the open markets.

The move, it is hoped, will force down the cost of borrowing in the economy, thereby stimulating investment.

A strong desire by the likes of pension funds to offload bonds to the government was seen last week, and the Pound fell as expected.

However, eyebrows were raised on Tuesday the 9th when the Bank was unable to find enough sellers to fulfil its mandate.

The operation sought to buy longer-dated Gilts than those purchased on Monday the 15th. The Bank will take another stab at Gilts with similar yields on Tuesday the 16th, which should provide some interest.

The Pound rose in response to the failure, as any failures to execute the quantitative easing programme suggests the Bank may think twice about extending it in the future.

“While the BoE’s planned QE purchases failed to elicit sufficient willing sellers on only the second day, raising the prospect of implementation challenges, gilt yields were pushed down to record lows, a sign that the policy for now appears to be achieving the intended result,” says Michael Sawicki at Lloyds
KudosDave

 

[oldgroaner]

Do you honestly think our 'notice to leave' will come as any surprise to the currency speculators?

Only in the fevered imaginations of remainers is exit in any doubt, and even a lot of them are beginning to grasp what a referendum result means.

Although no doubt they will forever feel a crushing sense of injustice because the great unwashed had the temerity to disagree with them.

Just for the record a Brexit fan has claimed that Brexit voters are "the great unwashed"
How very strange to get such an uncalled for assertion.
And perhaps now is a good time to remind you as you seem so proud and assured in the victory Brexit gained, that only one person on here confidently foretold a Brexit victory before the voteon several occasions.
And that was me: go back through the early posts to check if you like.
Not one other person was confident enough to do that.
Yet now Brexit voters act as if this was cast in stone all along and inevitable.
Clearly they lacked faith didn't they?
So why do you imagine I kept saying that it would be a victory for the leave side?
Because if you expose people to a continuous barrage of Anti EU propaganda year on year and blame all ills on it.
People do not bother to check whether they are hearing the truth, and those lies take on the appearance of truth, even though even a cursory examination shows these so called truths to be nonsense.
That was the reason I expected a Brexit Victory when no one else did.
I correctly judged how effective long term propaganda is when no other source of information gives it the lie.
My judgement was that the majority do not bother to check or understand the information that is being directed at them on a long term basis.
The problem is that the Brexit propaganda package has fallen at every point.
No Promises money wise will be kept
immigration may even go up.
Our Borders are no more secure and it would be too costly to make them so.
And we still have no idea what to do.
What a stupid and futile situation!

 

[RobF]

Just for the record a Brexit fan has claimed that Brexit voters are "the great unwashed"
How very strange to get such an uncalled for assertion.
And perhaps now is a good time to remind you as you seem so proud and assured in the victory Brexit gained, that only one person on here confidently foretold a Brexit victory before the voteon several occasions.
And that was me.

A little bit of sarcasm from me, obviously lost on you.

As regards you predicting the result, fine, I'd rather we stayed in than have to go back through you posts to prove it.

My firm belief was the country would vote leave, what I was wrong about was the majority, which I thought would be huge.

I'm still surprised those with an interest in living off the public purse gave us a referendum, because the result was always going to put the brakes on the gravy train, albeit one running on a different line.

A mate of mine put £1,000 on Brexit at 12-1 - nice little tickle.

He follows betting odds more than me, apparently at one stage on polling day you could have got 20-1.

At least he had the good grace not to bemoan 'only' winning twelve grand when it could have been 20.

 

[oldgroaner]

You got beat, it's that simple.

The only straw clutching going on is remainers clinging to their 'marginal' defeat.

I wouldn't mind a penny for every person on that particular margin.

Actually we all lost, so do not imagine that Brexit constitutes anything other than a victory of lies over the truth.

 

[oldgroaner]

A little bit of sarcasm from me, obviously lost on you.

As regards you predicting the result, fine, I'd rather we stayed in than have to go back through you posts to prove it.

My firm belief was the country would vote leave, what I was wrong about was the majority, which I thought would be huge.

I'm still surprised those with an interest in living off the public purse gave us a referendum, because the result was always going to put the brakes on the gravy train, albeit one running on a different line.

A mate of mine put £1,000 on Brexit at 12-1 - nice little tickle.

He follows betting odds more than me, apparently at one stage on polling day you could have got 20-1.

At least he had the good grace not to bemoan 'only' winning twelve grand when it could have been 20.

"My firm belief was the country would vote leave, what I was wrong about was the majority, which I thought would be huge."

Amazing how the memory changes when convenient, isn't it?
I can prove I wrote that, can you?
"

flud
↑
I,ve felt from start its a foredrawn conclusion we will be staying by fair means or fowl, but either way its given folk chance to at least consider problems within eu. ( and uk if we do leave)
I do think its almost impossible to consider stay/ leave without bringing in your own prejudices/grievances/ vested interest.( I,ve tried not to, I,m sure Brexit would devalue property in France further) We are all products of circumstance.
What has been really disheartening is the slant/ spin used by both sides. Its made a difficult decision more so. We,ve not even had impartiality from BBC, but then again we never do.
I,ve also found it annoying when such as Matt Damon offer their wisdom ! ( Yes he went to Marseille to film Bourne,but somehow thinks that gives him an insight we all lack. Trouble is he probably has more influence than knowledgeable reporters / journalists..
Ahwell. Still voting out..but since even I we leave...we wont on todays news. So probably a wasted vote.
Either way, our popularity in eu will have dropped, if it can any more.
Click to expand...
Actually it may surprise you to learn that I expect a Brexit win, despite the fact I find the prospect appallingly stupid.
And on your own heads be it!
Knowing how pointless the effort has been, I have tried to point out the error is this choice, but feel it is almost inevitable.
And I shall still vote remain in the hope that sanity will prevail.

#260oldgroaner, Jun 7, 2016

And your proof is?

 

[RobF]

"My firm belief was the country would vote leave, what I was wrong about was the majority, which I thought would be huge."

Amazing how the memory changes when convenient, isn't it?

No change of memory from me.

Another unsubstantiated pile of poo from you.

You have posted the same 'we are all doomed' rubbish hundreds of times in this thread.

Posting it a thousand times will make no difference - it's still rubbish.

But once again, I have to admire your stamina, even though you use it to a pointless end.

And also once again, I can feel my interest in this thread ebbing away.

There really are a lot more important and interesting things than us leaving a desperately flawed treaty organisation.

 

[oldgroaner]

No change of memory from me.

Another unsubstantiated pile of poo from you.

You have posted the same 'we are all doomed' rubbish hundreds of times in this thread.

Posting it a thousand times will make no difference - it's still rubbish.

But once again, I have to admire your stamina, even though you use it to a pointless end.

And also once again, I can feel my interest in this thread ebbing away.

There really are a lot more important and interesting things than us leaving a desperately flawed treaty organisation.

Note: Facts to a Brexit Voter: Another unsubstantiated pile of poo from you.
The usual response: not able to offer proof, and a personal attack, my, my
No wonder your interest is ebbing away.
And for your information I agree on that last sentence, in that Brexit is far more damaging to our future than staying in the EU.
Your inability to understand the difference between creating hardship for the public un-necessarily and labelling it "We are all doomed" shows how limited your view is, and you now expecting us to enter a new Utopia?
Is that how you view the present situation?
Tell me, who told you the EU was a "Desperately Flawed Treaty Organisation" are you wiser than all the 27 nations who signed up to it?

 

[paul20v]

Answer me one thing as im sure im not the only one on this forum thats fed up with this rubbish thread ,
My question is , What is anyone on this thread going todo about being in or out anyway ?
Oh hang on i can answer that for you
NOTHING
So stop bleating on about it and put some effort into starting a thread thats intresting because going on and on about the same old crap isnt going too change any of it .
You may as well be banging your heads against a brick wall ,
actually no because at least by doing that thou you would get a trip too A and E so you would achieve something .

 

[flecc]

Answer me one thing as im sure im not the only one on this forum thats fed up with this rubbish thread ,

If you are fed up with this thread, it can only be because you enter it when you already know you don't like it.

Rather foolish don't you think?

Why not just ignore it, it's not depriving you of anything?
.

 

[oldtom]

So stop bleating on about it and put some effort into starting a thread thats intresting because going on and on about the same old crap isnt going too change any of it .

You're absolutely right paul20v but many of the correspondents do actually contribute to and in some cases, also initiate threads on various topics, some of which are bicycling-connected.

If a thread is based on a topic in which you have no interest or has become boring, you don't need to open it and read content. With particular regard to this one, it is contained within the 'Charging Post' area of the forum which permits members to discuss and/or debate matters unconnected with the main thrust of the website.

Happy cycling,
Tom

ps Just seen flecc's reply so I'm glad we're in tune!

 

[(NoLongerRegistered#15675)]

the point is, most brexiters did not think they are going to win.
people will soon find out how much brexit is going to cost them.
it's simple enough: the more money you have, the more you lose.
apparently, brexit can be reversed after the next general election.

To say that trex you would need to have spoken with majority of the 17 million brexiters. Look up what majority means. You seem unsure.

 

[paul20v]

If you are fed up with this thread, it can only be because you enter it when you already know you don't like it.

Rather foolish don't you think?

Why not just ignore it, it's not depriving you of anything?
.

Your right Its not depriving me off anything only having too see it at the top of this piece of the forum everytime i click in here too which i realise i havent helped by bumping it up again

But being straight and honest Its you lot thats wasting your time bleating on about something you can do bog all about unless any of you actually have any influence in goverment that your not mentioning .

 

[(NoLongerRegistered#15675)]

Paul
You are missing point of this thread. Its where keyboard warrior whinging stayers come to call leavers names rather than actually do anything..it serves a purpose,it keeps OG, Trex and Flecc off the streets and busy. They have nothing better to do.
( except Trex who watches value of pound , like rest of us watch Olympics.)