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Anyone thinking of getting a German, Japanese or American car, phone or I-thing might want to buy it before the next shipload of imports sets off, with a higher price in Sterling.

Bear in mind that Oil and metals are priced in dollars.

 
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Is metal made in this country also priced in USD?

And cars made in this country... so they seem really cheap to the big bad outside world too right? Great news for those that build Nissan, Mini, Toyota, Jaguar, Land Rover etc etc.

There we are now. A nice bit of balance to your gloom.

Nozzle
 
I'm glad you asked that.

If you buy or sell a commodity (iron, steel, Brent Crude, LPG, gold, olive oil, cocoa, sugar, wheat, titanium dioxide) it now has a price at world level. If a vast container ship or bulk carrier can deliver to (or collect from) your country in a matter of days, there is not much scope for it costing less in one place than another.

If you had, say, a gold mine in Kent, you would look up the world price of gold ($1,366.80 at this moment, since you ask) and you would charge that for it; adjusted for order size and transport. The fact that it costs a UK customer £1056.27, when not long ago it was about £850, is very much his hard luck. If he doesn't want to buy it, someone else will. The gas and coal that produce your electricity have also gone up in pounds, so has the copper wire.

The same applies if you are buying, or selling, oil or petrol.

As you say, the UK workers are now being paid in shrunken pounds, and until they realise that their bread, tomatoes, Stella and TVs are costing them more, you, as a factory owner, get to pocket the difference. Unfortunately the parts you buy from the Nissan or BMW factories, your Bosch alternators, your NGK spark plugs, your Siemens control gear, the Swedish cowhides and the royalty payments you make to the patent and design owners, will put your costs up.

If you are unfortunate enough to buy your goods from overseas (clothes from Pakistan, TVs from Korea, fridges from Italy) and sell them in shrunken pounds, you have a bit of a problem, and maybe you should think about a change of career, or early retirement. Time to move on. Get used to it.

For example,

 
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The trouble is - nothing has caused the fall in value of the pound other than gamblers changing them all in to dollars.

They do not have to find a buyer for their pounds, as they would with other things; they can just change them.
It is just a game to those involved, who, after a while, will change back all their dollars and make huge profit and the pound will rise again.

That is the system which is the real cause of the trouble.
After all, other than some people voting for an ideal, as yet nothing has changed.



So, to boost the value of the pound, tell us where and how we can all buy pounds so that confidence shall be restored. Oh - we can't because we didn't gamble (inside trade?) away all our pounds on hearing the third result of the referendum

Perhaps Mrs.Leadsom knows.
 
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Anyone thinking of getting a German, Japanese or American car, phone or I-thing might want to buy it before the next shipload of imports sets off

I have just bought a Chinese phone thing from Germany!
 
The trouble is - nothing has caused the fall in value of the pound other than gamblers changing them all in to dollars.
That's true to an extent. But it's not necessarily true that at some point in the future they will or even want to change their dollars/euros/yen back into pounds.
They may have decided to just move their investment out of pounds and into another currency or gold, because they expect their investment to be safer and provide a better return.
 
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They do not have to find a buyer for their pounds

Sadly this is untrue.

Still, look on the bright side. Surely this is what 52% of the voters wanted.

https://next.ft.com/content/9c746d04-4456-11e6-9b66-0712b3873ae1?ftcamp=published_links/rss/world_uk_politics/feed//product
I don't think that's true, John.
I don't believe for one minute that the Brexiteers wanted a devalued pound.
They wanted to stop Europeans being able to come to UK to work, to compete for social housing, NHS, benefits etc.
I'm not suggesting that they do come to UK for benefits, NHS or social housing, but that's the perception of the Brexiteers.

If the pound devalues, if people find themselves out of work, if London deteriorates, if the NHS has difficulty in sufficient staffing, if further austerity is necessary, if the North of the country suffers further industrial decline, if parts of the UK declare independence, if barriers are erected across swathes of the country, well that's just hard luck but it's necessary in order to keep out the Europeans!

They don't have the brains to realise that social housing may decrease because there's less money to finance and less people to build them.
They're incapable of understanding that the NHS will suffer through insufficient staffing. They don't understand that less tax revenue means less money available for benefits.
 
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Other people don’t have the brains to understand that if you keep filling a bucket it’s either going to overflow or burst at the seams.
 
Other people don’t have the brains to understand that if you keep filling a bucket it’s either going to overflow or burst at the seams.
There's nothing like hyperbole to make your point. :rolleyes: Especially when facts don't support your claim.
upload_2016-7-10_13-33-46.png

https://en.wikipedia.org/wiki/List_of_countries_and_territories_by_population_density

Gibraltar 5th
Jersey 13th
France 20th
Japan 40th


UK 51st

We have a long way to go before your hyperbole becomes anywhere near accurate.
 
DRM

You say "you couldn't make it up."

Have you linked to the Daily Wail by mistake?
I could find plenty of guesses in your link, but no factual numbers.
Are there any?

It even refers to England as an island, so perhaps the author and editor are Americans with no grasp of geography.
 
I’m glad you read it, cause I didn’t, but I’m sure it’s just as valid as ITMA’s effort.
 
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