Negative

[securespark]

Moody's have downgraded UK to negative:
http://news.sky.com/story/1717282/uks-credit-outlook-downgraded-to-negative

 

[bernardgreen]

So what, the markets are knee jerking downwards, partly because they predicted a downward trend and partly because they can make ( in the longer term ) considerable profit for the big companies by buying shares when the market is ( artificially ) lower than it should be.

Why did the big car companies invest in UK manufacturing for cars intended for sale in Europe ? why not invest on the mainland of Europe to reduce transport costs. What ever the advantage was in the UK they will like to maintain it so unlikely they will move production to mainland Europe

 

[JohnD]

the advantage was in the UK

Things change.

 

[bernardgreen]

Things change.

and those who voted to remain have to realise that things have changed since the UK joined the EU

 

[JohnD]

It doesn't matter now which way you voted.

You must be very pleased that shifting your savings out of Sterling and into Dollars and Gold has brought you such a big profit now that the pound has tumbled. I gather you will be investing it in the plummeting shares of UK companies now, so you can make a fortune when they bounce back.

 

[bernardgreen]

You must be very pleased that shifting your savings out of Sterling and into Dollars and Gold has brought you such a big profit now that the pound has tumbled.

It wasn't me that did that , but it is not impossible that a few bankers and similar market manipulators did just that. By spreading fear of recession they set up the situation from which they could make a lot of profit.

 

[JohnD]

It wasn't me that did that

Why not? Don't you believe your own story?

 

[bernardgreen]

Why not? Don't you believe your own story?

Without access to instant money trading gambling on the markets is high risk. It was obvious there would be a dip in the value of the pound due to the comments from big money people about what would happen if the UK voted to leave the EU. With their access to instant trading they can make a profit from a 10 minute blip in market rates. It was in their interests to make comments that would create that blip when the result was obvious.

It wasn't my own story.

 

[JohnD]

It was obvious there would be a dip in the value of the pound

So why didn't you move out of sterling? No need to use a gambling or trading site. You could have bought Krugerrands or sovereigns or dollars. When I asked on 6th June, gold was £860. Now it's £975. And the Pound has just has one of its worst drops.

Are you going to tell me next that you won't be buying shares even though you claim "the market is ( artificially ) lower than it should be."

You say its not your own story, but you're certainly pushing and publicising it. Don't you believe it?

 

[bernardgreen]

Because of the risk that the ( artificial ) downward blip may not have lasted long enough for normal broker trading to take advantage

 

[securespark]

Who's done that?

 

[EFLImpudence]

I would like to buy pounds now that they are cheap but there doesn't seem to be a way for me to do that.

Strange.

Stop defending gamblers who don't give a toss about any country but manipulate and speculate for their own profit and cause damage to millions.

 

[Nozzle]

The financial institutions are screaming out now - usually so keen on a bit of opportunity, they now decide risk is a bit too much work. They want bank in again. The 1,000,000 or so sore loosers who signed a recent petition for a re-vote are likely the same ones who blames bankers entirely for the collapse of worldewide socialism and now the socialist mecca of the EU is missing a key player they also want back in. The bankers and the champagne socialist facebook whingers once so opposed now operating on the same side of an argument..... who'd have saw that coming?! I love politics.

And now the media push an idea that if Scotland and Ni should get together in a new Independence referendum, (and then throw the independence away to Brussels) the perhaps London could become a City State like Hong Kong, was. Just goes to show the divide between London and the rest of the country is still there, once seen as a bad thing - now trumpted. Those majority Remainers in Liverpool, Manchester, Bristol, Norwich etc will get the opportunity to stay with the broader country while London elite cut themselves up.

Nozzle

 

[JohnD]

Because of the risk that the ( artificial ) downward blip may not have lasted long enough for normal broker trading to take advantage

That doesn't make sense.

You could have bought shares yesterday, you can buy them on Monday. You've got a phone and the internet.

You could have BT (down 12.7%), or Legal & General (down 20.26%) or Taylor Wimpey (down 29%) or Bovis (down 24%) or you could take your pick of the banks. Bad news for anyone hoping to retire one day, seeing their pension fund crumble. But never mind, they've "taken back control."

I repeat, don't you believe your own story?

 

[empip]

"...The new, complex securities of "structured finance" used to finance subprime mortgages could not have been sold without ratings by the "Big Three" rating agencies — Moody's Investors Service, Standard & Poor's, and Fitch Ratings. A large section of the debt securities market — many money markets and pension funds — were restricted in their bylaws to holding only the safest securities — i.e securities the rating agencies designated "triple-A".[1] The pools of debt the agencies gave their highest ratings to [2] included over three trillion dollars of loans to homebuyers with bad credit and undocumented incomes through 2007.[3] Hundreds of billions of dollars' worth of these triple-A securities were downgraded to "junk" status by 2010,[1][4][5] and the writedowns and losses came to over half a trillion dollars.[6][7] This led "to the collapse or disappearance" in 2008-9 of three major investment banks (Bear Stearns, Lehman Brothers, and Merrill Lynch), and the federal governments buying of $700 billion of bad debt from distressed financial institutions.[7]"

I blame Labour, Brown, Putin, The Tories, Bin Laden, The Daily Rail and Fred Jones from down the road for the crises...