StatCounter

Tuesday 16 December 2008

Sterling is crashing, what's next?

If you are of a nervous disposition then I strongly recommend that you don't read The FT's Alphaville, they report that: "according to Deutsche Bank’s credit strategist, Jim Reid:
"So if 2009 goes horribly wrong it’s probably because there’s a run on a major currency or a Government bond market than because of wide scale corporate defaults. At the moment the UK remains the lowest hanging developed market fruit. For those of us living in the UK it remains scary how exposed we are to the full force of this credit crisis."
"

The advice, as ever, is "buy gold".

1 comment:

John M Ward said...

I battled with that, but it was rather frightening, and I got that horrible feeling inside of a black hole having opened up in my stomach area. Bearing in mind that I was already broadly aware of much of what continues to come out regarding our economic situation and prospects, this was not a good moment for me...

I don't suppose the Gorgon will "buy gold" — he's just so happy to sell what we already had at a knock-down price!