General Betting
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08 Dec 11
14:01
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07 Aug 06
... then I would ask betfair if I could open a US$ a/c. Just as a hedge.
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Replies: 19
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What about all the other Eurozone countries?
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Glad to see you'd have the sense not to make your hedge account in GBP's. Used to be worth around 1.50 euros and now worth only 1.16 beleaguered euros. The pound's fall against the euro is on a par with a supposed able bodied man getting his head kicked in by a man with no arms or legs. Still, little Englander Dave will put those johnny foreigners in their place and make sure no one fks with our prize assets in the city. How, in a so called democratic society, does it come about that the governments main aim is to support the most hated criminal kvnts in the history of the country.
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"Red Feck" sticks on the old Che Guevera shirt and tries to hijack a thread with his other obsession.
Can you not go find a socialist worker seller with a manky dog on a string to chat to about your little revolooshun? "How, in a so called democratic society, does it come about that the governments main aim is to support the most hated criminal kvnts in the history of the country." Cameron doesn't support the trade unions - it's labour who do that. |
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Blue rinse Just Bitching sticks on his Maggie costume and tries to hijack a thread to show solidarity with his fellow parasitic ponces in the city.
Can you not go find a stripey blazered city type and chat about how much you've given to this country while lighting your cigars with GBP100 notes (only 116 euros mind). Cameron doesn't support the trade unions In the same way that Maggie didn't support the IRA. Great recruiting agents though. |
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So in essence you're not on about the weakness of the eurozone, or specifically betfair accounts in euros, you're suggesting anyone in the weak countries whose euros may suddenly become drachma/punt Mk2, should flee to a stronger currency?
Even if they DID become a new currency, and you thought you might be forced to convert, surely you'd have a bit of notice. So unless they suddenly put in unexpected anti-transfer rules, IF you consider the euro fine in the meantime, they'd be ok? Would companies like betfair even be forced to convert e.g. an irish persons account to Punts Mk2? Perhaps they'd keep euros and do the conversion on deposit / withdrawl so it would make no difference? Probably be easier for Betfair to do that in the meantime. Also, I think you can open a bank account in Euros in the UK anyway for example, what would stop someone in Ireland keeping a Euro account (other than some politicians playing at control freak). |
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Exactly as JC says.
The key thing is whether it would actually become illegal for Greeks or Irish to own Euros. I don't think that has ever been in anyone's worst case scenarios. However, the question does perhaps highlight the nightmare administration/control scenario that would arise in general if any of these countries is forced out of the Eurozone. What an unalduterated fckin mess it would highly likely end up being. Let's all hope it doesn't come to that for everybody's sake. |
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it wont happen anyway
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Wanna bet ?
Prices please ? |
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It's mostly political prestige that is holding the currency union together now. People don't like to admit that they were wrong.
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No I think that they just got the monetary policy part of the union rules wrong in the first place.
I still think the basic idea , that is no borders is good and desirable. Far too many wars in the past have been caused by nationalism, and the more we rid the world of it, the better we are off imo. |
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Btw we're probably getting a bit off topic here now ?
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did anyone watch that Storyville during the week.
Great film exposing wall street and the corrupt US system. |
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They will be gutted that they have been exposed - $2.6 billion each is probably small consolation by comparison.
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Storyville was excellent. On iplayer for anyone who didn't see it.
http://www.bbc.co.uk/iplayer/episode/b0183l0t/Storyville_20112012_Inside_Job/ The financial sector vermin have inflicted untold misery on much of society for no other reason than adding zeroes to their already beyond sense bank balances. One clown had 7 private jets. When we do finally resurrect the guillotine it will take years to clear the backlog. |
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I make a serious point for my mates in Ireland to ponder and here it goes totally off topic.
That's ok, I would trade a US$ and a Euro account if I lived one of the weaker Euro Countries. I am generally right, it just takes a while for people to realise it. |
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Where is the best place to save this gem of a quote? I know, here:
"A Euro is a Euro, it's not an Irish Euro or a German Euro, it's just a Euro!" |
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Where is the best place to save this gem of a quote? I know, here:
"A Euro is a Euro, it's not an Irish Euro or a German Euro, it's just a Euro!" Actually that appears to be the case. There is no national denomination on the notes, only on the coins. The EU agreement is that issued coins and notes are legal tender anywhere in Eurozone EU. Can't think of any previous circumstances where only one part defaults and the rest remain in the same currency though. Any one with cash left in a defaulting country's bank would likely lose the lot, irrespective of what currency was held. In any case, folks funds are in UK Betfair Trust with the actual cash "invested" or in a UK bank. Whether the £ is any safer than the Euro is debatable. |
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The thing holding the euro together is the cost of breaking it up. The crisis will continue because no action has been taken to solve the problem & the market knows there is not enough money to pay the debts of Greece, Italy, Portugal, Spain, Belgium, Ireland, Hungry, etc,,, & they are only getting deeper in debt through the selling of bonds at unsustainable rates of interest. The only way, I see this ending is through debt write offs or quantitive easing or austerity for the next 150 years.
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