Pound drops to 1.16/EUR

Is it time to panic yet Sup Forums ?

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bloomberg.com/news/articles/2016-07-06/morgan-stanley-sees-further-potential-u-k-property-fund-stress
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No

I'm having a field-day shopping on amazon uk that's for sure

I'm Sup Forums and I say it's time to celebrate.

THREAD THEME
youtube.com/watch?v=FGBhQbmPwH8

Even though Britain is totally corrupt, and doesn't make much of anything, we are a beacon of industry compared to the Eurozone. Those Commie bureaucrats are a menace!

It's about time the fucking pound got a bit of a nerf, my WoW subscription was getting way to expensive.

>One of them is pegged to the british economy
>The other is pegged to FUCKING GREECE, ITALY AND SPAIN

youtube.com/watch?v=wMykYSQaG_c

Why does the pound change it? Blizzard is based in America?

Stealing a currency tactic from the Chinesse to increase exports and domestic manufacturing. Sneaky anglos dont waste any time.

>GBP still worth more than EUR

wow very panicked

this_is_fine.jpg

It's evening out to the rest of Europe. So what? When it starts to fall below is when I would worry.

when i checked earlier today the pound was worth 1.30 of a dollar, now its at .29

wew, guess i'll wait a bit more to book my holiday ;_;

Now's not the time to fear, shill, that comes later.

2 trillion in UK wealth was wiped out over the past two weeks. Also the city of London banks are all gonna leave. They did that to Montreal in the 90s. Montreal was second to New York in being the finance Capitol of North America. The banks fucked off just at the threat of Quebec seceding and never returned

Time to buy on Amazon UK

>>GBP still worth more than EUR
>that logic

You don't get how currencies work, do you?
The absolute number is meaningless.
If you can buy thousand Yen with one dollar it doesnt mean you have one thousand times the purchasing power...


>british intelectual

Nope.


Luke 18:25

For it is easier for a camel to go through the eye of a needle than for a rich person to enter the kingdom of God.”

wow it's fucking nothing

Everything's fine.

R-right lads?

2000 years ago maybe.
Besides, Luke is a German name.

Actually Bill 101 had more to do with that all the Anglophone bankers didn't want to learn French so they moved to Toronto

In the UK we pay an absolute shit load for things like video games because they have a tendency to just replace the dollar sign with a pound sign. US pays $60 for a new game, we pay £60 (+VAT). Depending on the game it wasn't uncommon for someone in the UK to be paying upwards of $100 for a new game.

I know countries like Canada and Australia always complained about getting shit deals when it came to games and their pricing, but the UK has always had it worse.

Luke 18:25

For it is easier for a camel to go through the eye of a needle than for a rich person to enter the kingdom of God.”

The Bank Of England said that the pound'shigh value relative other major currencies was a fucking CRISIS a year before Brexit. The pound losing value is a good thing for the Brits.

...

>£100 for a new game

Only if they're the super deluxe special editions.
Unless you're buying all your games from Harrods?

Yes PANIC Now!

Stand on tables waving bits of paper at each other.

I said $100, not £100. And until recently £60 + VAT was around $100.

Does South Africa use the poon for currency or something?
I thought it's just like rocks and pebbles
And I'd still rather pay 60 gdp over 80 cad.
On the stocks it seems like a lot but relative to your own country it isn't all that bad, only when purchasing internationally.
Ie computer parts from the USA is pretty dick right now for us

Heh, you call this a currency collapse. You ain't seen nothin' yet.

So you did. My bad senpai

I hope it'll go somewhere below 0.80.

0.70 Would be even nicer, I'd be able to move there and live a comfy NEET life.

But £60 is like $100 CAD, right now. A few weeks ago it was more like $130 CAD.

And we'd pay that for a new game. But you guys would bitch about pricing and how you had to pay a bit more than America.

Where the fuck are you buying your games from? Overwatch pre order was £40

It was £30 actually. But Overwatch was sold significantly cheaper than normal on account of it being like 1/3rd of a real game.

Normal games would go for £50 to £60 on day 1, console games in particular would never drop below £60 the first month or two of release (some could even be priced at £69.99).

who /bregret/ here?

Are you retarded, nigger?

Nobody troll patrol

>not pirating overwatch and playing multiplayer on pirate servers

>+ VAT

UK shops are required to include VAT in their advertised prices. Current gen video games over here are on average £50 including VAT

Which is why they swap the dollar sign for a pound sign then add VAT on top of that.

But how much is it relative to what you pay for other stuff? How much is 4L of milk or like some chicken breast.
Internationally sure you're getting pretty bent over but is it that bad if you imagine there was no conversation? Let's say it was based In the UK at a flat £ and you had no usd or cad to compare it to
Here 80$ is expensive as fuck, and we pay 4$ for almost 4l of milk, and 5$ for whole milk, meanwhile I'm getting 11$/h
The absolute cheapest I've seen chicken breast is 4.99/lb or 8.80/kg
Typically you'll find it around 11-13/kg
So on top of other expenses even though we don't pay as much as you as far as the dollar is worth it still feels like 80 is a shit load. If we were compensated for making extra money as in whatever the conversion rate is, so let's say 1.5x$ then it would be more justifiable
I've jumbled on a lot but do you see the point I'm making?
Now this is based on an assumption as I have no idea how much your local goods are and cost of living but tell me if I'm wrong
And don't get me started about Toronto housing costs

weaker currency will boost exports. Good for UK. Shit that euro is strong, Finland can't compete with it.

Yarrr

They don't

Let's talk about the real story here

zerohedge.com/news/2016-07-06/eu-banks-crash-crisis-lows-funding-crisis-accelerates

Hello fellow /p/olacks!

I am from the Great failing nation of the United Cucks of America

How might I make a few extra coins during this brexit????? I imagine betting that the pound will fall further might be an idea butt it seems to keep rebounding as well and I don't exactly want help the currency deevaluate

Perhaps buying minerals such as gold or copper?

Perhaps even selling emergency supplies like that Alex Jones cuck

Not paid more than £40 for a new game and usually get them at release. On PC though, dunno about console.

Any upcoming games that you can show will be more than £60 if it's $60 in America ?

Your prices are a bit cheaper now than what we pay. Milk is maybe $1 cheaper and chicken maybe $1.50-2. 2 weeks ago we'd have paid more than you for the same shit.

Our minimum wage is also equivalent to about $12 CAD.

PC games are always £10-20 cheaper.

A kraut and a leaf walk into a bar and realise they're both fucking morons.

I can still buy more with £1 than €1, what part of currency value do you not understand?

EU trade deals and policies caused manufacturing to leave Britain. This was one the main selling points for leaving the EU. Now Britain can start producing again and the lower GBP will increase export demand. In other words Britain's economy is adjusting post Brexit as it should.

Sorry no happening in these waters. [spoiler]Duetsche Bank is were the happening is brewing.[/spoiler]

>Now Britain can start producing again
Yeah, lets just shit out the necessary infrastructure. How long you reckon that is gonna take? 20 years?

I'm hoping Britain returns to a pre industrial society and return to paganism so I can become a druid and maybe get to fuck a hot virgin as part of a ritual of some sort

>British education

>thousand yen to the dollar
wow we got a currency expert over here

I don't care. The Pound is ours forever now whatever the rate. We will NEVER join the Euro. #Brexit

ITT: people discussing economics with non-economic arguments

this is going according to plan. they want value parity between the major currencies (and soon: Amero) to then easily transition from a 3 unions- divided world, to a 1 world government/union.

Your attachment to your quaint little local currency is cute.

Our manufacturing sector is mainly hitech/bespoke products. We are not trying to be the next China lel

>brexit
>plan

...

Triple parity when? World Federation when?
Actually, make that quadruple parity:
USD=GBP=EUR=100JPY

>I know countries like Canada and Australia always complained about getting shit deals when it came to games and their pricing
A standard game here costs $79.99 CAD, which means with taxes it comes upwards to $100. It requires 10 hours of minimum wage work to buy a new game here.

Which is about the same amount of hours you need to work at minimum wage in the UK to buy a game (depending on your age).

>It requires 10 hours of minimum wage work to buy a new game here.

7 hours over here.

brexit is part of a greater plan: NWO

Hahah faggots games are 60 bucks here

>Is it time to panic yet
No. Brexitters are still in complete denial. Their view on this swings between saying it will bounce back or it will sink further and benefit our exports. But as we all know, Brexitters are economically illiterate. A few days ago they were showing the rise in FTSE100 as a sign of our success because they don't realize that index is made up of companies that get most of their revenue from foreign markets.

A weak pound will not do any good to out exports because we have almost no natural resources. We rely on a strong currency to import raw material. Any competitiveness that would be gained from a drop in the pound is offset by the fact the products we manufacture will become more expensive to make.

Fun fact: if the Pound drops to 0.9 EUR (it most likely will by the time the new PM takes office) our economy will be officially smaller than Italy's.

There is also a very high chance we will experience double digit inflation. We will be the first developed economy to achieve this since the 1970s. When inflation starts to creep in and eat peoples' income, then it is time to panic because we will enter a vicious cycle of eroding income and sky-rocketing government spending/borrowing.

I just catfish murrican losers in /soc/ to get games for free.

sometimes i resort to /hm/ since i am a qt and there is always some old american pervert lustging for latino cock

tl;dr

You aren't out yet nigger. Everything that happened has nothing to do with your presence in EU.
Everybody on Sup Forums is suddenly an economic expert even if they never played on a stock market and pretend that they can interpretative it.
You see red scream red and act red. Start working you fucking lazy piece of shit and it may turn green.

If you want to do something right might as well start over from scratch instead expecting money just to rain cuz EU jews'n shiet.

So why don't you go short on the pound and make bank?

it's time to order shit online from UK, m8
I do detect some raising of the prices by the island jews tho

Good.

More middle class liberals going broke. They deserve it.

>Not addressing the issue
>He didn't address the issue of the Canadian and the German in the same way I am to him

Well then your both just awful even though the Britbong pound is still worth more than the Euro which means the UK is at the very least still better off than the EU.

Because we're neckbeards, and we hate cops, because cops fuck neckbeards

But cops ALSO fuck niggers OP, and if cops weren't around to fuck the niggers into submission, then we'd have niggers all over our cops and neckbeards

Maybe in a year we can actually judge this crap

>Quoting Trey (((Parker)))'s bullshit movie

its time to order some english hoes

kekek shorting would imply I want to buy back GBP at some point in the future and make a profit from it.

>implying I want this shit currency

Our future PM has already stated she will balloon the deficit. Barclays will go bust within a year if this trend continues. I don't want to short the pound, I'm in the process of opening an account in Ireland and transferring my savings there. Enjoy your bank run.

Like I said, whatever bank I make from shorting at this point will be offset by how absurdly expensive things are about to get in this country.

>Everything that happened has nothing to do with your presence in EU.
sure thing
bloomberg.com/news/articles/2016-07-06/morgan-stanley-sees-further-potential-u-k-property-fund-stress

independent.co.uk/news/business/news/standard-life-london-property-fund-brexit-eu-referendum-withdrawals-a7120116.html

>Everybody on Sup Forums is suddenly an economic expert even if they never played on a stock market and pretend that they can interpretative it.
Saying this doesn't make you any more credible. Not sure if you're a troll or legit unaware of how much capital has fled the UK since the referendum.

>intelectual

An hero ahmed

Market correction.

The euro is still valued too high , the ECB just prints money out all the time same with dollar.

A correction will happen to the euro and dollar as well but later. So the crash will be even bigger for them. Either one will snowball the other into a crash as well. Considering how utterly shit southern Europe is doing, euro will crash.

Loving brexit, it has provided a years worth on entertainment in less than 2 weeks. Also I have a stable job which cannot go anywhere and I'm looking to buy a house in the next year or 2, can't wait for the price crash.

>"GBP is falling low omg so panic british ppl regret brexit now aaaaaahhhh"
>gets pointed out GBP is still worth more than EUR
>"lol no thats not how economy works lmao we shouldnt look at exchange rate dude haha u are so retard brexit voters r so stupid lol i am now a #missile4merkel lol uk should remain inside eu rofl"

He's a leave voter, he belongs to the 52% of our population that all share a braincell.

There was bound to be some fallout. It's a fair price to pay for sovereignty. The problem is that the leave leaders, instead of resigning, should be addressing the public and explaining that there could be some hard times ahead, but at least you won't lose control of your country.

In the long run I expect Britain to fare much better than the EU, which very well might collapse under the weight of its immigration.

Only super virgins would have this level of analytical ability.

what industry, m8? tata steel or sheep shagging?

>There was bound to be some fallout.
Fund managers are blocking withdrawals. This is something that hasn't happened anywhere since 2008 except for Greece and Cyprus! The fallout was underestimated by brexiters so they could get votes from plebs. That's why they're all hiding now.

>The problem is that the leave leaders, instead of resigning, should be addressing the public and explaining that there could be some hard times ahead
They promised good times ahead though. According to the leave clowns, not contributing to the EU budget would leave extra cash for the government to spend on welfare and MUH NHS. The amount of money wiped out from London on day 3 was already greater than the money we send the EU for a 5 year period lmao.

>In the long run I expect Britain to fare much better than the EU
How much is that long run? A decade? Yeah I have no doubt the economy will eventually recover but until then people will lose their jobs, a chunk of their pensions and government debt will increase even further.

>which very well might collapse under the weight of its immigration.
If you were to follow British politics closely you would know there is zero commitment from any party (and that includes UKIP even though they won't be able to form a government in the foreseeable future anyway) to seriously reduce immigration. A lot of foreign posters are under the impression we're undergoing some massive anti-immigration drive in the country right now and I don't blame you because all the British shills on Sup Forums made that appear to be true with their memeposting.

All brits who voted leave already bought gold or silver or bitcoin or beer for their money. The remainfags deserve to get poor because they're statist scum. So worrying? No.

No, it's getting time to convert my money into dosh and wait it to rise again.

Are you out? No? Then it has nothing to do with it. After you are out you get your benefits and freedom. Now it's the Jews tightening the leash.

Are you an expert? Brexit was a trigger not a cause of this drop. It's not that hard to see.

I can't wait to go to Engrund and treat them like Mexicans with my hefty Freedom Dollars.

some of you are acting like leaving the eu is like returning a rental to a video store. Of course there's going to be rumble until everything readjusts and stabilizes

They fucking do mate, do you not buy things?

best post in the entire thread unless some leave shills can refute it with facts

>inb4 FTSE

Should i buy some pounds? Or will it drop more