So, between now and 99 weeks later (2 years) the pound "could" collapse. Guess it's time to short and hope not to get a margin call
LOL and you think Cameron will solve ur problems? the US is in recession and the whole world will be in a mess , there is no escaping no matter who is in power. When he gets into downing street, you can be sure dave will pass laws allowing all his aristocratic buddies to continue to enjoy their unearned priviledged existence while the middle and working class suffer
Financier Jim Rogers Friday denied making remarks attributed to him in a press release this week saying the pound sterling is at risk of imminent collapse. The denial comes as foreign exchange jitters are intensifying throughout Europe over debt problems in Greece. Rogers is a former business partner of financier George Soros in the Quantum fund which famously scored huge gains by betting heavily against the pound ahead of its collapse in 1992. Rogers said comments contained in a press release Thursday announcing an appearance by him at a trading seminar in London were false. Reuters "I did not know about this press release. I didn't say those things," Rogers told MarketWatch.com in a phone interview from Singapore Friday. Among other things the quotes in the release compared the pound to the hyper inflated Zimbabwean dollar and said the U.K. government could do nothing to prevent a steep fall in sterling. The release has since disappeared from the Press Dispensary web site linked to by several media organizations which reported the provocative claims. http://www.marketwatch.com/story/ji...ound-will-collapse-2010-02-26?dist=beforebell
These currency collapse threads are HILARIOUS! Remember when USD was in a down trend? All you could read about in the media and on ET was about how the USD was finished, done, going to collapse and send the world into chaos. Now that the USD has pulled back and EUR + GBP is downtrending, the current rave is "collapse of the Euro!", "collapse of the Pound!". Trends do not continue forever...
that again points to the difference between rogers and ET posters he doesn't get margin calls when positions go against him.
Article down on the "press dispensary" place. I just read their mission statement. Guess whoever was short the pound was happy with their service. Pretty shady, but of course there will be no follow up. "What we do Everything we do is designed to get you noticed - by the world's professional media (print, broadcast and online) and by search engines, social networkers, bloggers and your customers. We write professional, eye-catching press releases and we distribute them - whether written by us or by you - to carefully targeted journalists and editors; then we publish them online, as multi-media, SEO-friendly news releases, we syndicate them to many global news sites and aggregators, and we circulate them widely across the web." http://www.pressdispensary.co.uk/