al_yrpal wrote:Yes, slightly weaker was great. Helped our competitiveness wasnt that bad for consumers, very annoying for expat pensioners and holidaymakers, but, a run on the pound will be something else. Be very afraid because the banksters will have a field day shorting everything and it will be very painful indeed. Can you control banksters in Paris, Frankfurt, Hong Kong and NYC, no.....Exchange controls once again, doubt few remember those...
What we have now isnt anything like the 1970s, its not even close.
It is more than "slightly weaker", especially since it was historically weak anyway even before the referendum.
In a decade it has practically halved against some strong currencies.
But you want your cake and eat it here. You always want to be right.
Yet your position is, I think, pretty confused and hypocritical and bears little or no relation to observable fact.
To rely on weakening a currency to maintain competitiveness instead of investing in infrastructure is the economics of a simpleton late of the "funny farm".
To some extent the banks you cite, Paris, Frankfurt, are controllable - ironically by the EU! And by us as Members of the same.
This weak pound is a massive driver of inflation, across the board.
It devalues EVERYTHING in Sterling from houses to antiques even stocks and shares and of course straight imports.
It is also a massive UK asset stripper. I would expect you to be concerned about that at least.
It does just the opposite of "take back control".
So it affects far more than the "expat pensioners and holidaymakers" you so quickly dismiss.
It is mildly interesting that since Boris's lackluster performances and that newly Labour have been making a better fist of a campaign (their poll ratings are a little improved) the Pound actually rallied a little.
On your assessment the opposite would have taken place?
I think (IMHO) should a Corbyn Govt get elected then the Pound will perhaps drop a tad (as R.Mogg et al desperately shift some dosh from a tax take) but then afterwards will rally quite strongly. For much of what Labour have proposed so far was broadly welcomed by many sectors.
Certainly a refreshing change from tired (and totally failed) old Tory "balance the books" lies.
Mind you, I never ever saw an election where so much money apparently appeared out of thin air -so quickly!! It's almost eye-watering!!
Labour seem the more honest about how they will raise it though.
Now where's that report about Russian interference.