Exit from Brexit

Nothing has happened to make the idea of Leave more appealing to initially lukewarm Remainers, while much has happened to make it look more worrying. But the Brexiteers on GN just carry on with their old arguments. When the horizon changes prudent sailors alter their direction, blinkered one’s carry on heading for the rocks.

There are other factors in the world apart from brexit that can and do cause financial fluctuations.

So, nellie, that being so, can you account for the fact that the pound has been steadily falling since June 2016 (and would have fallen further had the BoE not stepped in with £60billion quantitative easing).

And why did Farage's buddies make fortunes on short selling the pound on 23rd/24th June 2016? If they hadn't foreseen a drop in the pound on the announcement of the Leave 'win' why would they have bothered? Short selling is a risky business

www.bloomberg.com/news/features/2018-06-25/brexit-big-short-how-pollsters-helped-hedge-funds-beat-the-crash

This explains what short selling is:

www.investorguide.com/article/11716/the-pros-and-cons-of-short-selling-stocks-igu/

A convincing explanation of why this had nothing to do with the Brexit vote would be useful...

The pound has been lower than this - 10 years ago it was all doom and gloom.

Varian The Financial Markets rise and fall. People make money by short selling, they make money by taking advantage of the market at any given time, depending on what sort of trading they engage in. That is business. Private investors do the same, the Unions and NHS and many, many other's invest our pension money through their pensions funds, and they do it in all sorts of ways, lending money overnight for one. Lending money, selling share, buying shares. Selling at the right time, buying at the right time. That is what the Financial Services Industries, and Financial Markets do. Why it surprises you surprises me.

Bit of information for you.....

The European Investment Bank will still owe the UK billions of pounds for decades after the country leaves the EU, the institution’s chief has said.
Alexander Stubb said Britain would not get its £3.1 billion, 16 per cent stake back in full until 2054.
The UK, along with the other 27 EU nations, have paid taxpayers money into the EIB to capitalise it. The bank makes loans at low rates to fund infrastructure and other projects, including major schemes in the UK.

Britain’s share is the largest, and it is equal in size to Italy, France, and Germany’s.
“Everyone on both sides of the negotiating table agree that we have to pay back the 3.5 billion euro, basically in cash, and that will happen over a long period, up until 2054, because that's when the loans are amortised,” Mr Stubb told BBC Radio 4 on Friday.

www.google.com/search?European+Investment+Bank+and+Brexit&ie=UTF-8&oe=UTF-8

This is estimated and could be as much as up to 10 billion pounds.

This is only a share of the capitalisation money from the UK, not reimbursment of any other membership fee's or savings made from not paying membership fee's or further capitalisation of the EU Investment Bank which of course we will be putting into our UK Investment Bank for UK Projects.

It does not surprise me that people make money out of buying and selling currencies, and I don't suppose it should surprise anyone that Farage and his friends appear to have broken the rules.

!0 years ago was the world banking crisis, as I recall. Did the pound continue to fall for two years then?

You do have a talent for missing the point of the argument, Ally.

We all know that currency values fluctuate and that short selling exists.

Some people are trying to imply that the fall in the pound's value has nothing to do with Brexit.

I suppose the UK's poor growth rate over the last two years has nothing to do with it either...

winterwhite
When the horizon changes prudent sailors alter their direction, blinkered one’s carry on heading for the rocks.

You have described exactly what Leavers are doing. They have the foresight to see the longview of the EU and it doesn't look good , its already listing to the right, so they are lowering the lifeboats and heading for safety whilst those who only see what is in their vicinity dance whilst the band plays on.

Exactly Joelsnan!!

Gavin Esler: Why I’ve changed my mind on Brexit

www.theneweuropean.co.uk/top-stories/gavin-esler-changed-my-mind-on-brexit-1-5644402

When I posted the words of a mumsnetter who now regrets her vote to leave, it was predictably dismissed, so here are the words of an experienced political journalist and broadcaster who has had the same change of heart-

"When the facts change, rational people change their minds. It’s normal. It’s advisable. We do it every day. Thanks to Gareth Southgate I changed my mind about the England football team.

The facts about Brexit have most certainly changed over the past two years and I’ve now changed my mind about that too. When once I quietly accepted a democratic vote to make Brexit happen, I don’t any more."

www.theneweuropean.co.uk/top-stories/gavin-esler-changed-my-mind-on-brexit-1-5644402

Varian

"When the facts change, rational people change their minds"

Well Varian, that depends on who's "fact's" they are. How suseptable we are to suggestion and of course how the so called fact's fit in with our own agenda's.

It’s normal. It’s advisable. We do it every day.

Of course we change our mind's every day about what we might have for lunch or which programmes we watch on the box, I often change my mind about having a pudding or not. However on the big issues, like should I marry this man, should I sell the biggest asset I have the house and move to live near my Daughter, or have I had enough should I divorce my Husband or Wife. The bigger issues of life most people tend to think a lot more about them, I think you would agree.

Thanks to Gareth Southgate I changed my mind about the England football team.

Well this one demonstrates the mercurial nature of this person. Only support something when it is winning! True loyalty there then!

The facts about Brexit have most certainly changed over the past two years and I’ve now changed my mind about that too.

I refer you to what I said earlier, depends on who's 'fact's' your using.

When once I quietly accepted a democratic vote to make Brexit happen, I don’t any more."

Then you no longer believe in the Democratic majority vote on which this Country's system of Democracy is based. That mean's your an anarchist. These things happen ...but not often!

Varian how has Farage and mates broken the rules?

Spot on Joelsnan.

Maizie I am not missing the point. I am missing your point, that is a different matter.

“This means your (sic) an anarchist” getting your political terms inaccurate again I see.

we have had a democratic vote to leave...what do you not understand about majority.... and democracy...????

there can not be a second referendum... end of, it is called a majority vote....happy times totally out.

AG you need to read this link

www.theguardian.com/politics/2018/jun/25/nigel-farage-denies-shorting-value-of-sterling-on-night-of-brexit-vote

and this one

www.bloomberg.com/news/features/2018-06-25/brexit-big-short-how-pollsters-helped-hedge-funds-beat-the-crash

and this one

www.lbc.co.uk/radio/presenters/james-obrien/how-brexit-day-concession-helped-hedge-funds/

But someone protesting about a political decision does not make them an anarchist . I can protest about the conservative government’s policies, nhs closures, decisions on fracking, anything...it’s called freedom of speech and last time I looked those who want to close down freedom of speech are those who support a totalitarian system such as fascism or communism where no opposition to the ruling party ( even if they had been elected by popular vote is allowed) .

Our democracy was high-jacked and perverted by foreign governments and tax exiles, billionaire media proprietors and alt-right data miners to the extent that 17 million out of 65 million people living in the UK were manipulated into voting leave in 2016.

Fortunately many of these decent people now realise that they were deceived into thinking that things would be better if we left the EU but the truth is quite the opposite

Nobody voted to be worse off, for their children and grandchildren to be worse off or to be citizens of a once great country which became the laughing stock of the world. That vote has been soundly discredited. We need to reclaim British democracy.

We need to be given the opportunity to vote again and chose between "the deal" - whatever that is, "no deal" which we know would be catastrophic, and the much better choice of remaining in the EU. If you believe in democracy, why would you not allow an informed decision to be made by the peolpe?

Fascinated by this exchange " who's facts" the problems is that leavers have only got aims and aspirations, remainers have got the status quo, plus plans for no deal. And it is very difficult to be passionate about remain
Let's face it the EU have the upper hand in these negotiations, personally I don't believe a Norway type deal is going to help the UK economically and no deal certainly won't. One thing for sure the poorest in society will suffer most because even if Corbyn gets elected there will be less cash to share out.

According to a recent poll, support for staying in the EU is 79% among voters aged 18-24.

www.theguardian.com/commentisfree/2018/aug/13/labour-reversal-brexit-jeremy-corbyn

I do not think that Gransnetters should be ignoring the opinions of this age group who might be our children or grandchildren or even great grandchildren, but we all know that we are talking about their future much more than our's. So listen to them.

AG you need to read this link
Just to keep you busy Ally

Spot on andycameron 69!