Free Capitalist Network - Community Archive
Mises Community Archive
An online community for fans of Austrian economics and libertarianism, featuring forums, user blogs, and more.

Will the £ crash?

rated by 0 users
This post has 0 Replies | 1 Follower

Top 500 Contributor
Posts 126
Points 2,410
Miklos Hollender Posted: Mon, Mar 17 2008 5:13 PM

 The same economic mistakes as in the US with the difference that half of the world has it in their best interest to save the $ -  in short: remnibi, oil prices, exports, those "triple-A" US government bonds etc. - while nobody gives a hoot about the £. In the last few days the $ got even gained strength compared to the £, even though it bombed against everything else: if the ECB starts buying $ to help the exports of the Eurozone the £ will bear the brunt of the financial crisis.

My strategy to hold £ cash to invest in $ stocks once the recession is over is now proved to be an extremely stupid one. Time to buy gold. Luckily, that about 100% price increase of the gold in $ throughout the last 2 years ( )  is still only a 50-60% increase in £ (  ) so investing now as gold will surely top at least at $1500 before the troubles are over is still not a bad move. 

Page 1 of 1 (1 items) | RSS