e.co.uk/tol/business/economics/article4254342. ece and http://ukpress.google.com/article/ALeqM5hAv-KWTNElxe6tSgy4T_yXf9n-8Q and http://www.bloomberg.com/apps/news?pid=20601087&sid=aKRByqWcwiAk& ;refer=home and http://www.independent.co.uk/news/business/news/mounting-.htmlssion-fear s-leave-markets-reeling-858400.html
(Follower Of T.H.E.M And Servant Of Allah And The Black Nation)—It Is Impossible To Please Allah(God) Without Faith,and faith without works is DEAD!!
Chairman of the Board
Re: England’s Doom Is Sealed Too!
« Reply #14 on: Aug 24th, 2008, 6:17pm » Quote Modify Remove
on Apr 15th, 2008, 6:59pm, The Chairman wrote:ASALAAM-ALAIKUM,
PG.”THE ENGLISH POUND AND THE AMERICAN DOLLAR HAVE BEEN THE POWER AND BECKONING LIGHT OF THESE TWO GREAT POWERS.BUT WHEN THE WORLD WENT OFF THE GOLD AND SILVER STANDARD,THE FINANCIAL DOOM OF ENGLAND AND AMERICA WAS SEALED.”…NOW LOOK;http://www.prisonplanet.com/articles/april2008/150408_b_slump.htm
—–http://cryptogon.com/?p=3671—–here’s the proof!
(Follower Of T.H.E.M And Servant Of Allah And The Black Nation)—It Is Impossible To Please Allah(God) Without Faith,and faith without works is DEAD!! “—COMPARE THE ABOVE WITH WHAT IS WRITTEN BELOW”——-
“Investors ‘panic buy’ other currencies as sterling slides
People who need to buy foreign currency because they are purchasing overseas property or emigrating are bringing forward their purchases of euros and dollars because they fear sterling has further to fall, a currency trader has warned.
By Richard Evans
Published: 11:46AM BST 23 Sep 2009
The pound could falls as low as $1.55, one economist said World First, a London-based trader, said 52pc more customers sold sterling on Monday than on Friday, which itself saw an increase of 42pc over the previous day. The dealer said customers were “panic buying” other currencies to avoid losing out if the pound fell further.
“World First has seen an increase of almost 40pc in currency transfers since sterling lost 3pc against the euro last week as those with foreign exchange commitments panic buy,” the company said.
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Sterling’s recent storm risks intensifying Hundreds of customers had switched sterling for other currencies on Monday, when sterling fetched just €1.10 and $1.62, it added. In recent months the pound has been as high as €1.19 and $1.70.
People with commitments to buy foreign exchange in the coming months for overseas property purchases, emigration and overseas investments are buying their currency now or are hedging at current levels with “forward contracts” or “currency options”, according to World First.
Jeremy Cook, its chief economist, said: “I believe €1.10 and $1.60 are near-term targets for the sterling-euro and sterling-dollar exchange rates respectively. However, prospects of falls below these levels are very strong given the momentum behind the movements we have seen over the past week.
“A break below these levels could easily see €1.07 and $1.55, which were the lows of the previous range.”
However, sterling has stablised over the past couple of days. It is now trading at €1.11 and $1.64.
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