Jim Rogers: British Pound could collapse within weeks

[Telstra]

i don't see anything "Made in Britain" anymore.

Why is 1 pound = 3 dollar Aust ?

 

[star-warrior]

I hope it's not true.

 

[NineOfClubs]

I used to trade currencies and loved doing that.

My wish is that the Pound is safe and that the Euro tanks....

 

[TickTockMan]

There have been way too many threads and posts of this kind lately.

 

[star-warrior]

http://news.bbc.co.uk/1/hi/business/8530150.stm

Most of the debt is held by pensions and insurance companies, some by the banks, in particular the Bank of England, and also overseas investors. The news on the BBC hasn't mentioned anything about it. I'm sure they'll do so when this gets more coverage.

However, one wonders at what the guy has to gain from speculating about the collapse of a national currency like the £. Something about it seems like he's creating a situation by scaring the already fragile conditions. Investments are all lead by confidence, once the investors get scared, its like kicking a stack of cards.

 

[NineOfClubs]

http://news.bbc.co.uk/1/hi/business/8530150.stm

Most of the debt is held by pensions and insurance companies, some by the banks, in particular the Bank of England, and also overseas investors. The news on the BBC hasn't mentioned anything about it. I'm sure they'll do so when this gets more coverage.

However, one wonders at what the guy has to gain from speculating about the collapse of a national currency like the £. Something about it seems like he's creating a situation by scaring the already fragile conditions. Investments are all lead by confidence, once the investors get scared, its like kicking a stack of cards.

A little bit like when Soros created the financial crisis in the US in 2008....

 

[thisisinteresting]

I actually didn't know until the other day that Britain still used pounds when I was watching a British show. I thought they converted to the euro ahahaha, I'm dumb.

 

[TickTockMan]

However, one wonders at what the guy has to gain from speculating about the collapse of a national currency like the £.

If he is a short seller quite a bit. Bearish markets are great for those that understand them.

Something about it seems like he's creating a situation by scaring the already fragile conditions. Investments are all lead by confidence, once the investors get scared, its like kicking a stack of cards.

 

[metta]

Are there funds out there that would do the shorting for you? Maybe it would be a good idea to put some money into something like that. I have no idea how to short nor do I have the time to spend the day buying and selling.

 

[ChickenGuy]

The exchange rate to the dollar has dropped by over a cent - not good if you're needing dollars for a holiday.

My dad acted quickly and got some from the Post Office before the latest big drop in value. Costs of trips to America from Britain seem to be rising with each passing day.