THERE ARE NO BRAKES ON THE TRAIN TO POUND TOWN
It's like ethereum for grown ups!
What's so horrible about a lower pound anyway?
>>1364043
just /biz/ being wannabe economists, havin no logic and immediately assume a lower pound always = bad.
>>1364200
the fucking world is assuming that atm. this low pound can only be good for british industry
From the thumbnail I thought this was an ETH thread.
>>1363957
i-i-i-i-*BOOM*
>>1364203
>muh exports
People forget that most of our manufacturing industry relies on imported raw materials which are now a lot more expensive. And we import more than we export.
>>1364043
New lows in exchange rates affect the economy in many ways.
Wish I held onto my GBPJPY position, too scared to rejoin
Buy volatility etfs, niggas
>>1364357
such as?
>>1364362
Tvix
>>1364300
lmao same
I bet the globalists did this
>>1364203
>the world is making these retarded assumption, just trust 4chan, anon
>buy ETH, anon
>Trumpcoin is going to the moon, anon
>>1364574
It was actually
>>1364353
I feel you
The Pound is already over inflated, and has been for years.
And isn't it hilarious how you goys scream about this, yet ignore the Euro's massive collapse that happened a few years ago which still hasn't recovered?
>>1365707
>ignore the Euro's massive collapse that happened a few years ago
because nobody cares about Greece anymore
Try playing $SPX options on expiration. Just look at that joocy delta.
>>1364203
This.
If anything, they will want to keep it low for a few years. High GBP would fuck them up the arse at this point. just look at the japs if you want a reference.
>>1364335
Steel so cheap that the domestic industry doesn't exist anymore.
Socially the UK is a third world country but they have enough money to deal with the lower value.
For some retarded reason everyone is assuming that a cheap pound is great for the UK, which begs the question: Why didn't they artificially depreciate it if it's so good?
On the one side, a cheap pound is good for British exporters because cheaper exports means more people will buy the exports. This is especially good because the pound has deprecated more against the US dollar than against other currencies, and the US is the UK's largest export target. The account deficit could be ameliorated on account of more people wanting to buy a cheaper pound. Furthermore, the Bank might slash interest rates, allowing an attractive opportunity for the government to borrow and invest in infrastructure prospects.
On the other hand, the UK imports more than it exports, by about $191 billion. This trade gap is actually the largest it's been in some time, which is bad because of the depreciating value of the pound. Cheaper pound means more costly imports, after all. This is further compounded by the fact that, even to EU trading partners, the UK imports more than it exports, by about 7.1 billion pounds, and 9 of its top 15 import partners are EU members. Also, the weakness of the sterling and the now essentially flat yields is going to make international investors skeptical and even scared of the UK, with most people expecting the country to enter a recession soon thanks to this Brexit vote.
Until new trade deals are negotiated, I don't think the cheaper pound is good for the UK. Thanks to its status as a net importer, it will be feeling some pain for a while.
