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Thread: What do you reckon the future of sterling is ??

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    Default What do you reckon the future of sterling is ??

    Hi all (and especially Melonie )

    as I live in the UK most of my savings are in £££..... and I've lost almost 30% since last August by holding this currency (should have changed it for CZK or even Euro now ).

    Recently the pound has nosedived again and I don't really know what to do... Should I convert it into another currency now, or is it too late ? Any idea of where the £ will go in the future ?

    Also, what's the best way how to change a large amount of money (well, not so large, a few 1000s £) - does anyone know any good online brokers ?

    Cheers xx

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    Default Re: What do you reckon the future of sterling is ??

    did you happen to see this news blurb ?



    if it was me, I would probably plan a road trip to a Swiss ( or better yet Lichtenstein) Bank with a purse full of pound notes - that can be exchanged on the spot for Swiss Francs !

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    Default Re: What do you reckon the future of sterling is ??

    Sterling? As in sterling silver? Precious metals? I can't help but speculate that they'll do anything but go up. Pretty much all the metals had hit some pretty big highs within the last few months, and have since gone down. Gold, for instance, was valued at over $1k an ounce a few months ago, was down to about $700 an ounce two weeks ago when people started feeling a little better about the economy (optimists that they are), and is now above $800. Silver had comparable ups and downs (I think it was around $10 an ounce when gold was @ $700).

    I think that you'll see a considerable increase in precious metals over time. That's my amateur investment opinion.

    But if you're talking about currency exchange rates, no frakkin' clue.

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    Default Re: What do you reckon the future of sterling is ??

    The British Pound Sterling. http://en.wikipedia.org/wiki/Pound_sterling
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    Default Re: What do you reckon the future of sterling is ??

    Quote Originally Posted by Melonie View Post
    did you happen to see this news blurb ?

    http://blogs.telegraph.co.uk/ambrose...going_bankrupt

    if it was me, I would probably plan a road trip to a Swiss ( or better yet Lichtenstein) Bank with a purse full of pound notes - that can be exchanged on the spot for Swiss Francs !
    Hi Melonie,

    would you mind asking me why Lichtenstein ??? I don't even know what currency they have... is that country supposedly "safer" than others ?

    Also, do you have any idea if there's any cap on the amount of money one can exchange there ?

    You are a star !

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    Default Re: What do you reckon the future of sterling is ??

    ^^^ still Swiss Francs (or Euros , yuck !) ... but unlike Switzerland banks which are currently under assault from German and French tax collectors, Lichtenstein banks are not likely to ever divulge individual account information to EU countries. And in either Switzerland or Lichtenstein, you're two or three digits short of having to worry about 'questions' being asked about the magnitude of cash you want to exchange and deposit. The only kicker is that in order to open an account you have to walk into the bank personally ... which is a big issue for some of us LOL ! Of course, being in the UK, you could easily drive there or take public trans.

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    Default Re: What do you reckon the future of sterling is ??

    After reading that blog, I suddenly feel better about the US economy. I thought we were doing bad, but it seems that many European countries have a far larger deficit than us.

    What is the actual exchange rate of a Euro? I have a few left over from my trip to Italy a few years back. I had looked it up online and it was $1.3 = 1Eu, but when I went to my bank to exchange my $$ I was told that those figures only apply to large exchanges and I ended up paying $1.4 = 1Eu.

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    Default Re: What do you reckon the future of sterling is ??

    the US$ : Euro exchange rate has been moving around a lot lately ... between $1.25 and $1.30.

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    Default Re: What do you reckon the future of sterling is ??

    Quote Originally Posted by Melonie View Post
    ^^^ still Swiss Francs (or Euros , yuck !) ... but unlike Switzerland banks which are currently under assault from German and French tax collectors, Lichtenstein banks are not likely to ever divulge individual account information to EU countries. And in either Switzerland or Lichtenstein, you're two or three digits short of having to worry about 'questions' being asked about the magnitude of cash you want to exchange and deposit. The only kicker is that in order to open an account you have to walk into the bank personally ... which is a big issue for some of us LOL ! Of course, being in the UK, you could easily drive there or take public trans.
    I did some search again and found this http://www.shelteroffshore.com/index...ore-tax-haven/

    So Lichtenstein might not be the offshore heaven after all
    However, the article says that HRMC bought details of British citizens - would I be considered as one because I pay my taxes in the UK but have a EU passport or not ? Theoretically, I'm just a resident, not a citizen..

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    Default Re: What do you reckon the future of sterling is ??

    ^^^ these were payoffs to unscrupulous Lichtenstein bank employees !!! You can rest assured that Lichtenstein banks have 'read the riot act' to other bank employees, as well as having improved IT security such that no single low level employee can access individual account data in this manner again !!!

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    Default Re: What do you reckon the future of sterling is ??

    Aaaah, cheers for the info babe

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