Reply To: £ drifting towards 1.31 Euro…

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135yearswaiting wrote:

I realised when writing my reply that I had gone off the topic, it is just that I can see if the pound goes down further some people are going to be in a terrible position, at times like that banks come into their own with weird and wonderful schemes to “help “(?????? my punctuation) these poor people. We have seen it so many times, people sold financial products that were completely wrong for them.

If the pound goes down much further, then everybody in UK will suffer terribly. The petrol price will increase which will determine the food price to increase, etc.

The only chance to escxape hyperinflation in UK is to hold a strong Pound.

This is why Mr. Mervyn cannot cut the interest rates at will.

This year central banks will go through the fire with a petro container in their hands. Who knows who will survive?