Sterling At Risk Of “Large-Scale Devaluation�

[Sirius]

Originally Posted by Rob

Absolutely no idea. Gordon Brown apparently sold our gold

At the lowest price he could as well, prudence my arse

Originally Posted by Damien

I don't think the pound is backed by gold and hasn't been for a long time. This wasn't related to Brown selling the Gold either. I believe it's, like the US Dollar, a Fiat currency which basically means it's backed by Italian cars.

I own a fiat ,does that mean i'm rich ?

so basically your saying that the £ is worth as much as people say it is ,those people being other governments

Originally Posted by martyh

I own a fiat ,does that mean i'm rich ?

so basically your saying that the £ is worth as much as people say it is ,those people being other governments

Being your government. The Government says it's worth £5 so it is. If investors or other countries lost confidence in a Government's ability to ensure the value of their currency then I guess it will collapse.

[Dash: CF noob]

my tenners are worth 20 pound, so im selling them for 15 if youre interested.

[MovedGoalPosts]

So if £2 plus £2 can make anything other than £4, according to the government or anyone else, is it any wonder the rest of the world could now be deciding not only our money, but indeed anyone's money, isn't worth the paper it's printed on.

No wonder the banks wrecked our economy, after New Labour's spending sprees, but then it's a mystery why the co-alition hasn't just fabricated more money, to solve austerity given that it all means nothing. Someone find me a maths teacher who can give some basic lessons to economists.

[mertle]

Originally Posted by Sirius

At the lowest price he could as well, prudence my arse

I think the stupid idiot got duped by pwerful people sell us down the river and that goes to osbourne now.

They both thought they was in the bullindon mob but reality they was laughing at them.

devilincarnate in my opinion no as we was the ones controlling the devaluation. Fearing more like 1931 sadly not how was in uk but usa style. We had the options we abandoned gold standard. USA stuck dropped third in its economy. My biggest fear is can osbourne take us out the mess. He not been to me good enough currently. He certainly no lamont, clarke standard chancellor. I fear he already in panick mode now.

I think we realistically have to consider abandoning the £ not necessary take euro. Will take hit but is the £ going to be recoverable.

http://www.telegraph.co.uk/finance/e...ince-1931.html

We not the only ones occording article would not be suprised its Dollar or Euro after us. They already doing the yen now.

martyh what I read there is pro and cons both fiat and gold. Gold gives security but limits ability to grow a country. Fiat can grow a country but if turn the tap on too much it implodes. Another gold standard is another danger its controlled by money to the value. More danger to power to them. You can see dangers when they got too much power.

Sadly we had too many governments pumping it flowing to the rich. Balance all out shape the bucket with holes waters(money) left it. Government losing control of the flow of money bucket not being topped up.

Either too many holes or the trickle down gone dry. You could argue both.

---------- Post added at 23:05 ---------- Previous post was at 22:50 ----------

Originally Posted by Rob

So if £2 plus £2 can make anything other than £4, according to the government or anyone else, is it any wonder the rest of the world could now be deciding not only our money, but indeed anyone's money, isn't worth the paper it's printed on.

No wonder the banks wrecked our economy, after New Labour's spending sprees, but then it's a mystery why the co-alition hasn't just fabricated more money, to solve austerity given that it all means nothing. Someone find me a maths teacher who can give some basic lessons to economists.

yes its WAR the money men always wanted money based on gold standard. Read up lincoln fight against the money men. Why he made the famous greenbacks to pay the workers. Governments found way to wrestle power by creating money based on fiat.

Nobody put 2 and 2 together why is golds on increase and why all these we buy any gold shops. Governments should never accepted the advice off the mega rich/banks. They asking for trouble why dont trust IMF.

Its interesting IMF want World bank this they same ideolgy called new world order.

I firmly believe they have softened the world up now striking to get governments to embrace gold standard. They in time will try take power of all the main banks like the BOE, thats if they not already own it.

Once they got the power its bad news. We got fight the rothchilds of this world. These powerful people very dangerous.