Author Topic: Brexit  (Read 21311 times)

ergophobe

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Re: Brexit
« Reply #105 on: May 02, 2017, 09:47:31 PM »
The Greatest Generation!

littleman

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Re: Brexit
« Reply #106 on: May 02, 2017, 11:35:55 PM »
...but it isn't the WW2 gen making the call anymore.  I would argue that they were more rational considering the information they had available at the time.  The macro level decisions we are making today are on Boomers and GenXers.

rcjordan

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Re: Brexit
« Reply #107 on: July 21, 2017, 10:58:04 PM »

aaron

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Re: Brexit
« Reply #108 on: July 22, 2017, 03:28:27 PM »
Even as a traveler with little know how one should know the airport & corner exchange shop are horrible. It is not uncommon to see a 20% or even 30% spread between some of the fairly common currency pairs. Not sure how many locals use those services though as the post office there offers reasonably tight spreads for fairly small cash exchange.

At £400 their rate is €1.0886. It goes to €1.0914 @ £500 & €1.0931 @ £1,000.
http://www.postoffice.co.uk/foreign-currency

That's around a 20% difference between their rates and those scammy rates offered at airports.

I guess I understand absurd rates if you are cashing in rarely used Turkish Lira or some exotic far away currency, but if someone else is profitable at 20% difference for the same exact thing, that's an atrocious rate.

To put that 20% craziness in perspective, after Brexit vote the currency shift was about 10%.
https://www.theguardian.com/business/2016/jun/23/british-pound-given-boost-by-projected-remain-win-in-eu-referendum
So you'd need a couple more unforeseen and/or heavily bet against black swans like Brexit to make that exchange rate reasonable.

according to Oanda
https://www.oanda.com/currency/converter/
the spot rate for £ to  €  is €1.11460.

Post Office spread
1.1146-1.0914=0.0232
0.0232/1.1146= 2.08% spread

exchange shop spread
1.1146-0.88=0.2346
0.2346/1.1146=21.04% spread

relative spread
21.04/2.08= charging 10.115X the cost for the exchange service as one can get as a walk off the street service at the post office

even a Travelex card looks like an extreme deal compared to those terrible currency exchange shops.
https://www.travelex.co.uk/currency/about-currency/euros
« Last Edit: July 22, 2017, 03:30:51 PM by aaron »

rcjordan

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Re: Brexit
« Reply #109 on: October 16, 2017, 01:08:06 PM »
reddit comments worth a read;

https://www.reddit.com/r/worldnews/comments/76p8ui/brexit_is_turning_into_a_disaster_says_vote_leave/


The macro view from my feeds' headlines indicate that the UK politicos in charge of Brexit seem to be getting some sort of reality check.   From what we see in the US, my sense of it says it's going to cost a lot more than the initial projections.

rcjordan

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Re: Brexit
« Reply #110 on: November 12, 2017, 03:13:06 PM »
Here's the first evidence Russia used Twitter to influence Brexit

http://www.wired.co.uk/article/brexit-russia-influence-twitter-bots-internet-research-agency

littleman

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Re: Brexit
« Reply #111 on: June 11, 2018, 06:12:20 PM »
Quote
Investigations by the Sunday Times and the Observer newspapers revealed the Leave campaign’s biggest backer, businessman Aaron Banks, met with Alexander Yakovenko, the Russian ambassador to the U.K., at least three times in the months leading up to the vote to exit the European Union, and even invited him to a Brexit results party in Westminster.

Banks also exchanged emails with the embassy and other Russian officials, including Alexander Udod, a diplomat who was subsequently expelled from the U.K. over the poisoning of Sergei Skripal and his daughter.


https://news.vice.com/en_us/article/zm8gz9/trump-russia-aaron-banks-brexit-farage

rcjordan

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Re: Brexit
« Reply #112 on: June 12, 2018, 01:58:35 PM »
Going all pear-shaped.