Astute
Well-Known Member
So has the £ crashed against all currencies like you keep saying? If you are being truthful the profits in real terms are much higher.
So has the £ crashed against all currencies like you keep saying? If you are being truthful the profits in real terms are much higher.The raw materials for components are mined all around the world and are traded in dollars. Like I've already told the other thick fuck try looking on the LME's website and seeing what currency metals are traded in.
It depends who you export to. If you're buying in dollars and selling in euros you won't be doing as well as you were a few weeks back as the relative decline in the strength of the £ is far greater on the dollar side.
So are you looking forward to when the currencies get back to where they were before the vote and then go even higher?Exactly. The most expensive component that we buy is 90% copper and that component is made in the UK but they buy the copper raw material in dollars but sell the completed component to us in pounds. This particular component hasn't gone up yet as the company we buy from still have copper stock from before brexit and the pound crashing. But once that stock is gone any new raw material that they'll have to buy is going to cost more and that will be passed on to us who will then have to pass that on to our customers.
So are you looking forward to when the currencies get back to where they were before the vote and then go even higher?
You have lost the plot
So you are saying that the company you work for will be worse off with a weaker £ because it suits what you are trying to say.Or you didn't have a clue on how it benefits exporters. Because you certainly now know that the company that you work for will be worse off when the £ recovers.I'm saying that when you claim that a weak pound will help exports you're looking at it to simplistic. The opposite effect is that imports are more expensive and when the British manufacturing industry is heavily reliant on the import of raw materials and components it has to recuperate that cost with higher selling prices meaning that the supposed benefit is cancelled out.
I think it proved that the poster who linked it hadn't actually read the report just the article and like a typical mail reader that was enough for him to consider himself informed, I might be wrong.So what was your point in saying that they only quoted two parts then? None of it looks good for the EU.
So are you saying that if you quote any news you have to mention all of it from now?
I don't get your point.I think it proved that the poster who linked it hadn't actually read the report just the article and like a typical mail reader that was enough for him to consider himself informed, I might be wrong.
I 'm all for as much information as possible.
I don't get what?you're right. you don't get it.
I don't get what?
More like you scan read the link you put on. But when you consider what was said it wasn't the good news for the EU like you first thought. Maybe you thought that the Daily Mail was cherry picking the juicy bits. But it wasn't. Now you are picking fault with them for not using more points.
You just couldn't make it up in real life
So you are saying that the company you work for will be worse off with a weaker £ because it suits what you are trying to say.Or you didn't have a clue on how it benefits exporters. Because you certainly now know that the company that you work for will be worse off when the £ recovers.
The raw materials are not 100% of build costs. Companies do not have to ask a higher price. I have been checking out your bullshit. Checking out your lack of knowledge. So they charge in dollars. It makes no difference to them how many pounds it costs. With a weaker pound they get the same amount of dollars but it costs us less pounds. Then when we export we charge the same amount as before in our £ but the product is cheaper for them to buy. Or we could be sly and ask more to make more.
One more question. Why have you gone quiet about the share price crash that you said was happening? Is it because you was wrong about that as well?
Not at all the mail did all they needed to do to satisfy their readership, print a couple of quotes and don't actually link the report, that's enough to get them hot under the collar. it's poor journalism but it suits the readership.
There's also an IMF report on the effects of Brexit on the UK which doesn't paint the rosiest of pictures, (also on their website), but for some reason no one linked that, I wonder why?
The jist of that report is that their is a great level of uncertainty around the UKs economic future in the event of an exit (which hasn't happened yet by the way), but I'm sure you'll dismiss that report.
You seem to be confusing me with someones who's vehemently pro EU, I'm not, as I've stated, I voted remain as the lesser of 2 evils.
I believe brexit will be a bad thing but I wouldn't be shocked if it wasn't I'm just amazed at how cock sure leavers are that everything's going to come up roses when there's a minefield of conflicting information which they either rehash or ignore according to their agenda.
In my opinion if it's relevant get it out there, hence I linked the report and not a couple of salacious quotes.
I agree:
1) What is weighing on the UK is uncertainty and nothing else.
2) Being cocksure one way or the other is daft - we don't know.
I voted Leave as the lesser of two evils but it was a close call and I won't be surprised if it goes badly (we should judge this in 5 years time after it all settles down). Similarly, I wouldn't have been surprised if staying had gone badly.
More like it is people like yourself trying to twist the truth all the time.I have a mate who's insisting that he's still going to get the same amount of euros for his holiday to Spain this year as he did last when in fact this time last year he would have got something like €1.40 to the pound and currently it's something like €1.18 to the pound last time I looked.
There are so many brexit voters in denial of basic facts it's flabbergasting.
But you need to take into context what he is saying. Our currency has supposedly crashed. It is supposedly bad for buying and selling abroad.You are both right and neither of you is thick.
If the imports are denominated in USD and USD strengthens, the price of exports to the US decreases which will increase sales (or permit you to increase profit margin).
Similarly, domestic sales price increases and sales will drop (or reduce profit margin).
It gets complicated for sales to the Eurozone, where the EUR hasn't strengthened as much as the USD. Then it depends on the relative strengthening of the USD and EUR and the mix of Import and Domestic costs for the product.
But you need to take into context what he is saying. Our currency has supposedly crashed. It is supposedly bad for buying and selling abroad.
But the truth is if we pay in pounds or dollars buying becomes cheaper. It would be someone taking the opportunity to make more money to charge more. The dollar is the dollar however much it costs us to buy. Putting it politely he is either twisting the truth as usual or hasn't got a clue.
The denial that the pound has crashed
More like it is people like yourself trying to twist the truth all the time.
Strangely enough I have just finished buying Euros online to be delivered. I got just over 1.15 which is less than you think. But the way you have worded it you would think that I would have got 1.40 if we never voted leave.
And why is it you still call it a crash when none of those that know what they are talking about call it so?
Don't get too worked up about the FX rate at this point Tony. It was inevitable and we're playing the long game. I was always certain that GBP would weaken and the markets would fall immediately on a Leave vote. This is a medium to long term gamble.
The gamble to Remain had short term with it - but it was also a medium and long term bet.
Remaining would have killed all debate altogether. At least folk have a better understanding now or should do. If we had Remained, the EU would have carried on as before taking billions of pounds off us and not listening to a word from the UK. They said themselves that 'we would be getting divorced, but it wasn't a tight marriage anyway', too right it wasn't. This was the British peoples last chance for a generation to make a bold political statement and they did !I agree:
1) What is weighing on the UK is uncertainty and nothing else.
2) Being cocksure one way or the other is daft - we don't know.
I voted Leave as the lesser of two evils but it was a close call and I won't be surprised if it goes badly (we should judge this in 5 years time after it all settles down). Similarly, I wouldn't have been surprised if staying had gone badly.
This is the difference between you and me. I say it how it is. You seem to be on a mission to make everything about voting to leave sound as bad as you can and make out that remaining would have been perfect.So the exchange rate is worse than I thought. Thanks for the confirmation.
This is the difference between you and me. I say it how it is. You seem to be on a mission to make everything about voting to leave sound as bad as you can and make out that remaining would have been perfect.
And I have taken a look at the latest thing you have been crying about. 1st April 2015 you would have got 1.37 Euro for your pound. 1st April 2016 you would have got 1.1353 for your pound. Less than you will get now. Please remind me of the date of the vote.......
Are you on drugs?Closed at 1.47 day before the vote. Last week it dropped as low as 1.28 before closing the week on 1.30.
Of course the 1.47 rate was already low as the uncertainty of the forthcoming referendum had already caused a drop.
You just can't stand being wrong can you?23rd of June. What would you have got then? How was the pound compared to the rest of the world currency then? How was it a couple of days later?
You just can't stand being wrong can you?
The drop in value since the vote is less than was lost since April by the Euro against the pound . And neither time was it a crash for either currency.
Are you on drugs?
The exchange rate had shot up to 1.30euro to the pound just before the vote on hopes of a remain vote. The money people were so sure it was going to happen.......
What a knob you are.So now you're saying that brexit has effected the value of the pound. Make your mind up.
think CD is referring to the $Are you on drugs?
The exchange rate had shot up to 1.30euro to the pound just before the vote on hopes of a remain vote. The money people were so sure it was going to happen.......
You could be right there. But the dollar hadn't been mentioned for a bit so wasn't expected. So apologies Chiefdavethink CD is referring to the $
So the Euro crashed then the pound crashed
Our currency has been weak for years partly because we are part of the EU. We have lost value since the vote because of the uncertainty. But our value went up before the vote because the money people thought they would get the remain vote that their money making strategies needed so the losses were nowhere near as bad as you make them out to be. Do you follow this Tony?
When the uncertainty has started to be sorted out the pound will strengthen. Countries are ready to deal with us. Germany don't want to put tariffs between us and them otherwise it will cost them a fortune. So our trading with the remaining EU countries should remain about the same. If not the world is a bigger place to trade with than a mainly skint EU. Are you following Tony?
So what you are saying is the EU is doing well so all currencies involved should be strong, the pound didn't go up before the vote because the money people expected a remain vote, it is bad for exporters when your currency is weak and a much bigger and better market won't open up to us when we will be allowed to make the trade deals with the rest of the world like the EU have stopped us from doing?Our currency has been weak because of being in the EU? It was also, apparently, over valued and due to fall/ has been falling. It is good for exporters when it is weak. Was it weak- good for exporters - due to the EU? If it strenghtens then the exporters will suffer - due to leaving the EU?
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