Pound falls to 37-year low as markets await announcement of new Tory leader

15 comments
  1. Calling it: there is now a widespread ‘bank run’ underway on the UK and Sterling.

    The naked profiteering we’ve seen from supermarkets/energy companies/rentiers etc. is a smash ‘n grab against the public, to get what they can and make off before Sterling goes to shit. Meanwhile, Liz Truss and the govt. seem to be happy to play along and hand as much power and wealth to the rich as possible in as short a time-frame as possible. There’s barely even a pretence that they intend to govern the UK in a stable, sustainable manner.

    Much like the USSR at its fall, the wealthy are grabbing what they can and making away. The UK is going to be in serious shit within 12 months. Huge capital flight and a freefall pound incoming.

  2. This reduces the real purchasing power of our wages even further… I am not sure it is worth working anymore

  3. We are definitely entering a lovely recession this year and it will be a while before things are back to the level they are now. Sadly, we might be living in the good times as things only get harder.

  4. Doesn’t surprise me – we’re following the US into a trade war with Russia which they are insulated from, but will cause absolute carnage within the EU. Expect new lows for both GBP and Euro vs the Dollar.

  5. I’m going to the US in a few months and the exchange rate is just depressing. I remember thinking £1 = $1.34 was terrible

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