Currency speculation

[iamtheblues]

It is being widely speculated in the financial press that the euro is soon to be toast. Is there a safe currency to invest in? Should we buy gold? Time to buy dried foods and canned goods or even a shotgun and shells?
Or is it just a passing phase? Anyone have any thoughts on this?
Saludos,
Bob.

[zaphodeist]

" ...there are three freely convertible currencies in the Galaxy, but none of them count. The Altarian Dollar has recently collapsed, the Flainian Pobble Bead is only exchangeable for other Flainian Pobble Beads, and the Triganic Pu has its own very special problems. Its exchange rate of eight Ningis to one Pu is simple enough, but since a Ningi is a triangular rubber coin six thousand eight hundred miles along each side, no one has ever collected enough to own one Pu. Nigis are not negotiable currency, because Galactibanks refuse to deal in fiddling small change. From this basic premise it is very simple to prove that the Galactibanks are also the product of a deranged imagination..."

H2GT2G ... but you knew that For 'Galacticbanks' substitute RBS, Barclays, or whoever. Invest in the banks themselves I'd say: sounds daft but think about it, whatever happens there will be banks for the foreseeable future - way past our lifetimes.

[iamtheblues]

Your quote from the Hitchhiker's Guide is very apt. I suppose that at least by investing in banks it means that as a taxpayer, I may have a chance of getting some money that I'm paying to rescue them, back again.
Given that sterling has tanked against the euro today, the two currencies will soon be sharing the same fate as the Triganic Pu.
Saludos,
Bob.

[zaphodeist]

I didn't know the pound had sunk so low "The ships hung in the sky in much the same way that bricks don't." Ever have the feeling that something is not quite right and those flashing lights under that triangular cloud in the sky spelling out "IMMINENT DOOM!" might actually know what they're flashing about?

[ankhor]

Some food in the house is never a bad idea.
Small disasters can happen too.
I never liked the Euro, it was forced upon us,
and now we have to support a country where
they think that 25 years of work is enough.
Oh they say they will repay it, but we know they won`t.
(Can`t even).
I think the support of the Euro will collapse if more
countries need a monetairy tranfusion. Doesn`t mean
it will go away, they didn`t care about the refendum
in my country about the constitution either.
But I bet the euro will drop after the next monetairy
transfusion.

[iamtheblues]

What I find a little worrying is the fact that US Congress has stated that the International Monetary Fund (IMF) should not be used to support currencies that have a deficit of more than 100% of Gross Domestic Product (GDP) and the fact that this report is receiving very limited exposure in the British media is extremely disconcerting. For a statement of this importance which would impact upon the UK considerably, not to mention the whole of the rest of Europe and indeed world markets, to receive so little press coverage is rather sinister to say the least...

On a lighter note, todays Peter Brookes cartoon in The Times is worth a look.
Saludos,
Bob.

[pauland]

Given that sterling has tanked against the euro today, the two currencies will soon be sharing the same fate as the Triganic Pu.
Saludos,
Bob.

It's hardly tanked. That's a highly misleading visual because the upper and lower ranges shown in the chart are very small compared to the overal value of the currency.

Definitely not "tanked" - very modest movement.