David Horne, _the_ chancellor (*) wrote:

Martin wrote:


On Sun, 18 Nov 2007 13:36:52 -0800 (PST), El Dude wrote:


On Nov 18, 4:10 pm, "EvelynVogtGamble(Divamanque)"
wrote:

El Dude wrote:


I predict that the Euro and Pound will reach parity within the next 4
years The Pound will continue its spiral downwards till .88 cents and
at that time the UK will join the euro zone.

Really? At present the UK pound is worth half again as much
in USD as it was the last time I was in Europe ($2.00 now as
opposed to $1.55 then). I can't comment on GBP versus euro,
because I never compared them before. (My concern has
always been how much I was spending in Ameircan money, since
that's my native currency.)

In the last 5 years the $ has depreciated 30% with respect the Euro
and 23% with respect the British Pound. At the same time in those 5
years the British Pound has lost 10% of its value with respect the
Euro. It's not a short term reaction to certain market conditions but
a downward trend that is going to accelerate in the next few years and
that will eventually end the existance of the GBP.

The GBP is the same value against the Euro as it was in 1999. Source ECB.


And it's been lower than it currently is too. I don't know what the
lowest is, but I remember 1.37 or thereabouts a few years ago. Having
just received a relatively large payment in Euro, I'm personally not
complaining about the current rate.

LOL! I have a friend who receives a small (widow's) pension
from Germany. (Her husband was a Czech orchestra conductor
who fled the Nazis - I'm not quite clear whether the pension
is from his profession or from his being a Jewish refugee.)
She, too, is happy with the increasing size of that income
in USD.