Re: Re: Sterling Devaluation



I think the article is basically saying that it reckons Carney will devalue sterling against the US and Canadian $ by 15% so maybe buy dollars, which we once did and made a very good profit, the trouble with these articles is that they really don’t know what Carney is going to do yet, by which time it might be totally wrong or another World event causes a change of plan.

I was talking with a senior bank executive earlier today about interest rates, and now savers are moving money into far more risky areas including property, shares (already risen a lot) and other forms, those who bought gold at $1800 per oz could already be nursing a loss of $500 per oz. Many UK savers are now buying property there to rent out for better returns but will another bubble form, yes says the chap I spoke to, but not for a few years, we shall see 🙄