Should £ stay or should it go?

Whether you're a working stiff or a business owner yourself, this is the place to discuss all aspects of financing your drinking habit ;-)

NO BUSINESS SALES HERE PLEASE, WE HAVE A SECTION FOR THAT IN THE CLASSIFIEDS.
User avatar
angsta
Expatriate
Posts: 580
Joined: Thu May 15, 2014 7:54 am
Reputation: 382
Congo

Re: Should £ stay or should it go?

Post by angsta »

Lonestar wrote: Tue Sep 27, 2022 5:20 am I would convert some into dollars and put it into a fixed rate deposit in Cambodia at around 6% per year. That way, you are getting a return and it can also serve as an emergency fund.
6% is a pretty solid rate.
AinC reels off an eloquent and thought provoking monologue adlib
User avatar
truffledog
Expatriate
Posts: 1658
Joined: Sat Mar 07, 2020 4:54 am
Reputation: 1028
Italy

Re: Should £ stay or should it go?

Post by truffledog »

Jerry Atrick wrote: Tue Sep 27, 2022 2:27 pm Panic led to lockdowns. Lockdowns led to fiscal stimulus. Stimulus led to inflation. Inflation led to monetary tightening. Tightening leads to recession.


YAAY
you forgot the important annotation of "ceteris paribus" which is never the case

https://www.reuters.com/world/uk/uks-vi ... 022-09-26/

good example to prove your scenario right...gone are the times of cheap mortages..wait for the fall of property prices.
work is for people who cant find truffles
User avatar
NotYourUncle
Expatriate
Posts: 74
Joined: Sat Aug 20, 2022 3:15 pm
Reputation: 32
Christmas Island

Re: Should £ stay or should it go?

Post by NotYourUncle »

Kammekor wrote: Sun Sep 25, 2022 3:30 pm
Ramoaner wrote: Sat Sep 24, 2022 12:48 am Good evening all,

My family and I are relocating to the Kingdom in the not too distant future having spent 3 years back in the UK and would like some sensible opinions on a financial matter.

With the pound now at an all my lifetime low, I am not sure that transferring all my liquid would be the correct decision at the moment because of the low rate.

I am lucky to have an option of leaving some money in the UK and hoping that in a few years time the rate will get better but I was wondering what your thoughts on

this would be.

I know there is no crystal ball out there but do you think the option of microfinance would outweigh leaving the money in the YUK?

Thanks for your time and appreciate any input.

Stewwy
Leave some. Don't burn your bridges and having access to money in a UK account might come in handy in the future.

<edit>
Imagine the horror of opening one, if you wanted to, in your position.
If I were you, I'd leave a tenner in there, get all the rest out of the country that you possibly can, max out loans and credit cards, never return.. by the time it does 'get better', at least you'll be able to buy some land with yer tenner
pronouns- it/that
as quite obviously, I identify as a f***ing watermelon
User avatar
Jamie_Lambo
The Cool Boxing Guy
Posts: 15039
Joined: Mon Apr 20, 2015 10:34 am
Reputation: 3132
Location: ลพบุรี
Great Britain

Re: Should £ stay or should it go?

Post by Jamie_Lambo »

the pound went to shit yesterday! fml
:tophat: Mean Dtuk Mean Trei, Mean Loy Mean Srey
Punchy McShortstacks School of Hard Knocks :x
techietraveller84
Expatriate
Posts: 567
Joined: Wed Jan 08, 2020 10:04 pm
Reputation: 167
United States of America

Re: Should £ stay or should it go?

Post by techietraveller84 »

Kammekor wrote: Tue Sep 27, 2022 7:48 am
techietraveller84 wrote: Tue Sep 27, 2022 12:02 am Like where? To the Euro?! Wasn't that the point of Brexit? And from the look of it, the Euro isn't doing much better... What the West needs to stop doing is handing out money if they want their moneys to stabilize.
Hasn't the US handed out most money? Still the USD is very expensive. Explaining these movements is incredibly difficult and there's not just one parameter setting the price.
I wasn't just referring to other countries, but also welfare programs. Look into the Cycle of Empires theory. I think Foreign Affairs journal did an article on it. But basically, Empires soon fall after they reach a point where they feel they are well off enough to have welfare programs. Those escalate out of control until the Empire crumbles, because no one can get the piece of cake they were promised. The common argument people have is "how much does it really impact you that there are welfare programs?" It may not impact me much directly, because I am part of those getting the cake handed to them in some way. What happens though when there is no more cake? I may have work and it may not hurt me as much, but those that rely on cake for everything are going to get pretty mad. The US just makes cake faster right now than most.
User avatar
Kammekor
Expatriate
Posts: 6375
Joined: Fri Sep 01, 2017 12:50 pm
Reputation: 2916
Cambodia

Re: Should £ stay or should it go?

Post by Kammekor »

techietraveller84 wrote: Tue Sep 27, 2022 11:26 pm
Kammekor wrote: Tue Sep 27, 2022 7:48 am
techietraveller84 wrote: Tue Sep 27, 2022 12:02 am Like where? To the Euro?! Wasn't that the point of Brexit? And from the look of it, the Euro isn't doing much better... What the West needs to stop doing is handing out money if they want their moneys to stabilize.
Hasn't the US handed out most money? Still the USD is very expensive. Explaining these movements is incredibly difficult and there's not just one parameter setting the price.
I wasn't just referring to other countries, but also welfare programs. Look into the Cycle of Empires theory. I think Foreign Affairs journal did an article on it. But basically, Empires soon fall after they reach a point where they feel they are well off enough to have welfare programs. Those escalate out of control until the Empire crumbles, because no one can get the piece of cake they were promised. The common argument people have is "how much does it really impact you that there are welfare programs?" It may not impact me much directly, because I am part of those getting the cake handed to them in some way. What happens though when there is no more cake? I may have work and it may not hurt me as much, but those that rely on cake for everything are going to get pretty mad. The US just makes cake faster right now than most.
It's time to bake your own cake.

When I started working I was promised a golden pension. When I moved to Cambodia in 2009 I worried about my pension because I stopped paying premiums. It's becoming clearer and clearer the promises made will not be kept, so now I'm trying to take care of my own pension. It's a pain, although current market conditions allow for more opportunities than a year ago.
Post Reply Previous topicNext topic
  • Similar Topics
    Replies
    Views
    Last post

Who is online

Users browsing this forum: No registered users and 146 guests