Pound at all time low? Well that was a lot of fuss about nothing...

[Deleted member 18243]

You put all the countries ills down to covid. This thread is about the fall in the pound and you state "The cost of covid rolls on...", with no explanation, as per usual. Covid has nothing to do with the fall in the pound.

I have explained it several times over the past two years. The government threw a huge chunk of everybody's money down the drain, everything we see today is a knock-on from that. Same as when a person's heart fails every part of his body declines for ever after. Everyone who went along with it is guilty; the victims are those such as me who knew it was a con, had nothing to do with it but are still having to pay for it.

 

[denso13]

I have explained it several times over the past two years.

You've stated your opinion, but have never explained anything whatsoever.

the victims are those such as me who knew it was a con

There you go again. You just saying things doesn't make it remotely true.

 

[ajohn]

I have explained it several times over the past two years.

The banking crisis is still having and effect. Covid just adds to that. Ukraine has added even more.

You are also ignoring fundamental problems with the UK economy that you should be fully aware of but choose to ignore even though you hear political rumbling about them over and over again. Those rumblings have been going on for a very long time.

 

[noseall]

Even if inflation is more than that?

So you are guaranteed to lose value, year on year, and never get it back?

And not gain from an economic recovery, when it happens?

Not everyone is as financially savvy as you JD. Or as smug.

 

[JohnD]

Inflation is terrible for eroding the value of savings.

If RaC makes a better choice I will be happy for him.

 

[Mottie]

It's now $1.116

So it’s at an all time high since last week then.

 

[Notch7]

So it’s at an all time high since last week then.

it was higher before the idiots budget

so you are wrong as usual

 

[Mottie]

The budget was last week. It went down, lally creamed his pants and jumped straight on it. I imagine he is gutted that it stopped falling and started rising.

 

[ellal]

The budget was last week. It went down, lally creamed his pants and jumped straight on it. I imagine he is gutted that it stopped falling and started rising.

Oh look, the ignorant troll is trying to be not funny yet again...

Just a shame it won't tell us what the exchange rate was before it voted to wreck the UK economy in 2016!

I wonder why that is?

Oh that's right...

It's too embarrassed to admit it got it horribly wrong!

 

[Mottie]

Oh look, the ignorant troll is trying to be not funny yet again...

Did you take English as a subject when you were at school?

 

[carmanmemoranda]

So it’s at an all time high since last week then.

Factually correct. Having visited a very low (was it all time low ?), it has struggled back up a little, at quite a cost

But not great viewed over a longer period of time is it ?

 

[Deleted member 18243]

When a bank accepts your collateral thereby making a loan, it creates the deposit in your account. New £s created

On paper, yes, but no actual new money has been created at that point. Only when the loaned amount has been paid back with interest is there new money.

There you go again. You just saying things doesn't make it remotely true.

Same goes for you.

The banking crisis is still having and effect. Covid just adds to that.

Whilst there were problems, things were generally working well for most businesses and individuals prior to governments shutting everything down in March 2020.

You are also ignoring fundamental problems with the UK economy that you should be fully aware of but choose to ignore even though you hear political rumbling about them over and over again

This is not true. You are new here , but if you had been around for longer you would know that I talk about little other than the country's problems - and I offer solutions.

 

[denso13]

Same goes for you.

You are making the claim, it isn't for me to disprove it. For once, back up your claims, just saying something over and over doesn't make it true.

 

[denso13]

prior to governments shutting everything down in March 2020.

It is a matter of fact that everything wasn't shut down.

 

[wellyfish]

On paper, yes, but no actual new money has been created at that point. Only when the loaned amount has been paid back with interest is there new money.

Nope.
Banks don't loan out people's savings, the loan itself creates a new deposit.
It's new money as soon as the bank approve the loan. For example:

. I originally have £10k in my bank account
. I apply for a £10k loan
. Bank approves the loan
. The loan issue creates a new deposit of £10k in my account
. Bank now has a new asset of £10k + interest
. I now have a new liability of £10k +interest
. I now have £20k in my account, £10k of which is new money from the loan