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Time to buy British Pounds
- Thread starter angelfj1
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vagt6
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You may choose to wait a bit, the dollar may very well fall further.
We're in a recession, and we ain't hit the bottom yet.
Hopefully, the dollar will gain as the European markets continue to tank.
Sad, but very, very interesting.
We're in a recession, and we ain't hit the bottom yet.
Hopefully, the dollar will gain as the European markets continue to tank.
Sad, but very, very interesting.
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That's not good news for me.
We rely on our savings in the UK to help pay our property taxes at the end of each year, so we need the pound to rise against the dollar!
After the first of the year it can go down again. Can you wait until then before ordering those parts?
We rely on our savings in the UK to help pay our property taxes at the end of each year, so we need the pound to rise against the dollar!
After the first of the year it can go down again. Can you wait until then before ordering those parts?
V
vagt6
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angelfj said:I'm sorry. I don't understand your point. We were in the UK and Europe last July. The pound was over $2 at that time and the Euro was maybe $1.60. This morning the pound is at $1.55 and the Euro is $1.26.
Of course you're correct, now ain't exactly a terrible time to purchase euros.
However, the dollar may continue to gain value against the pound and euro, thus devaluing them. And, it's generally advisable to buy low and sell high, no? So, if we wait for the recession to bottom out (trust me, it's nowhere near the bottom now) the pound probably will have less value then: that's the <span style="text-decoration: underline">ideal</span> time to buy.
A (wealthy) acquaintence of mine bought many thousands of euros when the euro was first intoduced in the late eighties. He took a trip to europe recently and really cashed in. He bought at about .90 U.S., then spent them at around 1.50.
Not bad. Rich folks have all the fun . . .
tony barnhill
Great Pumpkin - R.I.P
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So, you're betting against the American economy?Steve said:
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tony barnhill said:
No, I never bet against the American economy, a few "gentlemen" did just that in 1941, and look where it got them...... :wink:
I think it'll rebound, but I'm hoping that the pound will stay reasonably strong for the next three months or so.
The money we have accumulating over there will be going on our property taxes here, we need it to be worth as many dollars as possible when the time comes to transfer it over here.
T
Tinster
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Oh Man, this really hurts us!!
Our last stand, survival mode investement is
pounds sterling.
Our American retirement stockmarket account is gone,
our 401K's are gone, our paid for house has lost
50+ % in value. Our dollar savings has shrunk by 50%
.....................................
.......................................
and now our drop dead emergency account has been
looted as well?
GOD save America from the corruption in Wash. D.C.
So many hard working, middle class Americans, are
losing their entire life savings to the greed of
<span style="font-size: 20pt"> BIG OIL.
I hope this is not a political statement.
But me and the Mrs worked and saved our entire
careers only to see it go up in smoke during the
past 8 darkest years in American history.
FIE upon you, dunderhead , you S.O.B.!!</span>
Our last stand, survival mode investement is
pounds sterling.
Our American retirement stockmarket account is gone,
our 401K's are gone, our paid for house has lost
50+ % in value. Our dollar savings has shrunk by 50%
.....................................
.......................................
and now our drop dead emergency account has been
looted as well?
GOD save America from the corruption in Wash. D.C.
So many hard working, middle class Americans, are
losing their entire life savings to the greed of
<span style="font-size: 20pt"> BIG OIL.
I hope this is not a political statement.
But me and the Mrs worked and saved our entire
careers only to see it go up in smoke during the
past 8 darkest years in American history.
FIE upon you, dunderhead , you S.O.B.!!</span>
tony barnhill
Great Pumpkin - R.I.P
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Dale - the sky isn't falling, the Martians haven't landed, & the market's not gonna close!
This is, as I've said before, the perfect time if one was smart enough to be in a liquid position.
Like I said, I bought GM when it was down under $6.00 - I've a sell point at $15.00 which I think it'll meet mid-2009; I bought CAR-MAX down under $9.00 & I'll jump out around $12.00-$15.00. which will happen early in 2009! Plus a few others....you just gotta have faith or bury your money in the back yard!
Markets go up, markets go down....
Oh, your house: you've not lost anything until you go to sell! & you're not going to so long as you don't need it for catastrophic medical care (& nobody should be depending on a house to finance that!)
No way in H--- are your 401K's gone - mine only lost 10%! I'll make that back with some of the stock buys I've made in the last few weeks!
Now, if you want my opinion on why the market is so volatile right now; well, Banjo's correct - I'd get banned for life! {But, I will tell you this: it has nothing to do with the president or the oil companies!!}
This is, as I've said before, the perfect time if one was smart enough to be in a liquid position.
Like I said, I bought GM when it was down under $6.00 - I've a sell point at $15.00 which I think it'll meet mid-2009; I bought CAR-MAX down under $9.00 & I'll jump out around $12.00-$15.00. which will happen early in 2009! Plus a few others....you just gotta have faith or bury your money in the back yard!
Markets go up, markets go down....
Oh, your house: you've not lost anything until you go to sell! & you're not going to so long as you don't need it for catastrophic medical care (& nobody should be depending on a house to finance that!)
No way in H--- are your 401K's gone - mine only lost 10%! I'll make that back with some of the stock buys I've made in the last few weeks!
Now, if you want my opinion on why the market is so volatile right now; well, Banjo's correct - I'd get banned for life! {But, I will tell you this: it has nothing to do with the president or the oil companies!!}
Banjo
Yoda
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Spot-on Tony.... It's not the situation I'm ticked at... It's those that were/ are in charge that got us here. (that'd be most of the same ones Dale's mad at)
Markets go up and down, but the Greedy *cantbesaidheres* that have drivin it into the ditch it's in now, should be the reason that history records the return of lynch mobs.
And I STILL see all kinds of "no credit? bad credit? We'll loan you money" ads on TV! Have we not begun to learn this lesson yet? Let me spell it out.
High risk credit will ruin this country if not stopped!
Markets go up and down, but the Greedy *cantbesaidheres* that have drivin it into the ditch it's in now, should be the reason that history records the return of lynch mobs.
And I STILL see all kinds of "no credit? bad credit? We'll loan you money" ads on TV! Have we not begun to learn this lesson yet? Let me spell it out.
High risk credit will ruin this country if not stopped!
tony barnhill
Great Pumpkin - R.I.P
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Away from politics...I also bought Eagle Bulk Shipping @ $5.50...today its over $6.00 but still down 6.7%....but, "down" doesn't bother me because I don't think anything is gonna return to the inflated high's we've seen over the last few years...I do believe, however, that everything will stabilize at a new "high" which will be well above the low's we're witnessing right now.
I'm a 'glass is half full' guy; Dale's a 'glass is half empty' guy.....& I'm willing to bet on it filling up again!
I'm a 'glass is half full' guy; Dale's a 'glass is half empty' guy.....& I'm willing to bet on it filling up again!
startech47
Jedi Knight
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Get rid of riders on the bills being introduced and you have just made the 535 a little more honest. Make the bills stand on their own merits.
tony barnhill
Great Pumpkin - R.I.P
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We could cut 3 or 4 posts & the entire thread would be on-topic!
Scott_Hower
Luke Skywalker
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Tinster said:
Erm... instead of pointing the finger, invest in shares of BIG OIL. Helped me.
Banjo
Yoda
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I was never talking politics.... My target is CEOs. Mainly those in banking. But I truly believe it's our culture as a whole, not just a select few. The question is , who were the ones chiefly responsible for steering out culture into this ditch? Big business tycoons, politicians, the media, marketing ?.....
We could go on forever. Best to keep yourself in check, and do what you can to make the most of the situation.
My situatiuon has me tied to doing everything I can to crawl out of our relativly shallow hole, while trying to make that paycheck stretch to next week. Any major event in my finances (i.e. appliance going bad, sickness or injury, major car issue) tips those scales and it all goes down the toilet.
All financial advisors say to keep $1000 minimum in savings to cover such events. I'd love to... Can't happen right now.
I make just enough to be over the limit for most assistance programs.... Perfect!
And I've bought right into the culture as well. Gotta have Cell phones, internet, cable, toys toys toys etc..... So who's really at fault?....It's looking like......Me.
We could go on forever. Best to keep yourself in check, and do what you can to make the most of the situation.
My situatiuon has me tied to doing everything I can to crawl out of our relativly shallow hole, while trying to make that paycheck stretch to next week. Any major event in my finances (i.e. appliance going bad, sickness or injury, major car issue) tips those scales and it all goes down the toilet.
All financial advisors say to keep $1000 minimum in savings to cover such events. I'd love to... Can't happen right now.
I make just enough to be over the limit for most assistance programs.... Perfect!
And I've bought right into the culture as well. Gotta have Cell phones, internet, cable, toys toys toys etc..... So who's really at fault?....It's looking like......Me.