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mrtopnotch
22 Sep 21 10:55
Joined:
Date Joined: 21 Jan 11
| Topic/replies: 1,369 | Blogger: mrtopnotch's blog
Biden warns Johnson & the UK


US President Joe Biden has warned against the return of a closed border on the island of Ireland.
He was speaking ahead of a meeting with British Prime Minister Boris Johnson at the White House.
Mr Biden was asked about the Northern Ireland Protocol by reporters and said it was an issue he felt very strongly about.

When asked about a UK-US trade deal, the US President told reporters in the Oval Office: "To do with the UK, that's continuing to be discussed.
"We're going to talk a little bit about trade today and we're going to have to work that through.

"But on the (Northern Ireland) protocols I feel very strongly on those.
"We spent an enormous amount of time and effort, the United States, it was a major bipartisan effort made.
"And I would not at all like to see, nor I might add would many of my Republican colleagues like to see, a change in the Irish accords, the end result having a closed border in Ireland."

Mr Johnson said they were at one on the issue and that nobody wanted to see anything that would interrupt or imbalance the Good Friday Agreement.
After the meeting between the two leaders, the White House said that President Biden had reiterated his longstanding support for a secure and prosperous Northern Ireland.


Mr Johnson's first White House meeting with Mr Biden since he succeeded Donald Trump came as the British government's hopes for securing a comprehensive free trade deal with the US faded.

Earlier in the day, Mr Johnson was unable to commit to securing the deal - touted as a prize of Brexit by Leave supporters during the EU referendum - before the next election.
His concession came after suggesting trade negotiations are not a priority for the US president, who he accepted has "a lot of fish to fry".
Asked if he would get the deal by 2024, Mr Johnson told Sky News: "We will keep going with free trade deals around the world including in the United States.
"I have plenty of reason to be optimistic about that. But the Americans do negotiate very hard." And have put me in my place!
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Report unitedbiscuits September 22, 2021 6:24 PM BST
You cannot just melt away from your former position without at least acknowledging it was wrong, macarony. At c 16:30 you typed
Unless all rules and currencies are the same then one will have the advantage over the other, take our time in the EU they had the euro we had have the Pound, so if a big grocer wants to buy a million pounds worth of goods here the same goods would only cost eight hundred thousand if they bought the same goods in the EU, this is based on the euro been worth 80p.


Tell me that the last two hours have not been wasted, please.
Report 1st time poster September 22, 2021 6:30 PM BST
THIS thread might explain whynthe tory,s have spent the last 11 years trying to get the £ parity with the euro LaughLaugh,
ust to make it easier for everyone,so confusing when you nearly got 2euros for a knicker
Report irishone September 22, 2021 6:37 PM BST
Me thinks giupesty must be raking it on the cornettos
Report Giuseppe September 22, 2021 6:38 PM BST
report

your issue: inappropriate content

description: racial stereotyping
Report politicspunter September 22, 2021 6:40 PM BST

Sep 22, 2021 -- 12:37PM, irishone wrote:


Me thinks giupesty must be raking it on the cornettos


Lol, He lives in Rome, Macari and Dublin, is aged 93, was a GP for thirty years, is skint but has a Sky tv package and drives an ice cream van.

Report Giuseppe September 22, 2021 6:43 PM BST
correct
Report Giuseppe September 22, 2021 6:44 PM BST
lend us a fiver iris mate
Report macarony September 22, 2021 6:45 PM BST
No ub I stand by what I have said in my post we are a trading nation or was if we are at a distinct disadvantage we will fail and that is what as been happening as a result of our over valued and experience pound.
The reason I ask you to explain the merit of a high value currency when buying in imported goods to Giuseppe was to explain how this works, I have tried to explain it to him but to no avail. You on the other hand are a supporter of the high expensive pound
Report Giuseppe September 22, 2021 6:46 PM BST
mate you still haven't answered my  question

how much does the mercedes cost in dublin?
Report Giuseppe September 22, 2021 6:48 PM BST
what currency is the pound overvalued against?
Report macarony September 22, 2021 6:50 PM BST
It's cheaper in London because of the exchange rate the pound is worth more than the euro. Would you like me to explain it again or will 5 or 6 times do?
Report Giuseppe September 22, 2021 6:50 PM BST
i want you to tell me how much, in british pounds, the mercedes costs in Dublin
Report Giuseppe September 22, 2021 6:52 PM BST
"the pound is worth more than the euro"

1 pound was worth about 3,000 lira

imagine how cheap everything was in Italy Surprised
Report Giuseppe September 22, 2021 6:53 PM BST
Spain too

remember the peseta?

Brits couldn't believe how far their pound went
Report macarony September 22, 2021 6:57 PM BST
Actually things were cheaper in Spain and Italy before the euro anybody that went on holiday to Spain in 2002 knew the difference in price I know I was there
Report Giuseppe September 22, 2021 6:58 PM BST
how much does the mercedes cost
Report Giuseppe September 22, 2021 6:59 PM BST
for a british person in Spain the most important factor was the GBP:EUR exchange rate
Report Giuseppe September 22, 2021 7:00 PM BST
1 lira = 0.0003 pounds

everything in Italy was 1/3000th the price!
Report Giuseppe September 22, 2021 7:01 PM BST
silly brits

should have been stocking up on italian wine and selling it back home!
Report macarony September 22, 2021 7:06 PM BST
That's my whole point Giuseppe the pound strength as direct bearing on what people spend their money on cheap holidays in Spain were replaced by cheaper holidays in Turkey

Like wise cheap goods in Britain were replaced by cheaper goods from elsewhere. The exchange rate is not the only factor but it is still a major factor when purchasing decisions are made.
Now when we were in the EU we had the free market so  cheaper goods from other parts of the EU could be bought without any protection for UK manufacturing that had to trade in pounds not euros
Report Giuseppe September 22, 2021 7:09 PM BST
the pound strength is not determined by the fact 1 pound is worth more than 1 euro

it is determined by how many euros it is worth now compared to say a year ago

if it was worth 1.10 euros last year and is now worth 1.20 then it is cosnsidered strong, and vice versa

the pound was not 3,000 times trsinger than the lira
Report Giuseppe September 22, 2021 7:10 PM BST
"cheap holidays in Spain were replaced by cheaper holidays in Turkey"

if the pound rose in value holidays would be cheaper everywhere, not just in Turkey
Report edy September 22, 2021 7:11 PM BST
politicspunter • September 22, 2021 6:40 PM BST
Sep 22, 2021 -- 5:37PM, irishone wrote:

Me thinks giupesty must be raking it on the cornettos

Lol, He lives in Rome, Macari and Dublin, is aged 93, was a GP for thirty years, is skint but has a Sky tv package and drives an ice cream van.

Giuseppe • September 22, 2021 6:43 PM BST
correct


Did you also use to have a career as a hot dog man/hot dog van driver/operator?
Report Giuseppe September 22, 2021 7:11 PM BST
"without any protection for UK manufacturing that had to trade in pounds not euros"

you still don't get it

how much does the mercedes cost in Dublin?
Report Giuseppe September 22, 2021 7:11 PM BST
edy, no
Report flat16 September 22, 2021 7:22 PM BST
By default and between you ,an adequate explanation of why linking the German/Italian/Greek etc in one currency (Euro) is doomed to fail has been achieved. Well done
Report Giuseppe September 22, 2021 7:24 PM BST
taxes and transport costs aside, does the mercedes cost

100,000 GBP in the UK

100,000 EUR in Ireland

100,000 USD in New York

100,000 CAD in Canada

100,000 JPY in Tokyo

100,000 AUD in Sydney?
Report Giuseppe September 22, 2021 7:25 PM BST
according to lfc the euro is doing a lot of good for German exports

so which is it? is it a disaster or not?
Report unitedbiscuits September 22, 2021 7:33 PM BST
macarony: No ub I stand by what I have said in my post

You said that if you buy a product/service, it is 20% cheaper if you make the purchase in 80p pieces rather than £1 coins.

We can't move on if you cannot move on.
Report 1st time poster September 22, 2021 7:39 PM BST
anyone longing for the heads and tails thread from years ago, Laugh
Report macarony September 22, 2021 7:41 PM BST
If the euro is worth 80p then that is 20% cheaper than the pound a pound is 100p is it not ub?
Report Giuseppe September 22, 2021 7:42 PM BST
how much does the mercedes cost
Report Giuseppe September 22, 2021 7:43 PM BST
a japanese is worth about 1 british pence

is everything in japan 100 times as a result?
Report Giuseppe September 22, 2021 7:44 PM BST
japanese yen

100 times cheaper
Report unitedbiscuits September 22, 2021 8:03 PM BST
If the euro is worth 80p then that is 20% cheaper than the pound a pound is 100p is it not ub?

That is nearly true, macarony, but that is not what you said. You said a "big grocer" could buy 20% cheaper by paying in units of 80p rather than £1.

It doesn't work like that. As even you must see by now.
Report macarony September 22, 2021 8:12 PM BST
You're as crazy as Giuseppe it's proportional but I suppose some people are numerically dyslexic
Report lfc1971 September 22, 2021 8:16 PM BST
If one pound is worth 100 Japanese yen - and it should be worth 80 yen
Then you are not trading on a level playing field and you have a problem
Report unitedbiscuits September 22, 2021 8:20 PM BST
A 50p piece is proportionate to a £1 coin; it's worth half. But you have to pay with two 50p pieces to buy a £1 item. You can't pay with coins to the value of 80p, despite what you thought.
Report lfc1971 September 22, 2021 8:22 PM BST
The EU makes a big pretence of believing in a level playing field - they don’t
the very structure of the EU and the Euro means it is not
Report lfc1971 September 22, 2021 8:28 PM BST
What’s more there is an inbuilt incentive for British manufacturing to relocate and manufacture at least in part in the eurozone
Quite aside from the fact that Germany can dump its goods into the U.K.
Report ----you-have-to-laugh--- September 22, 2021 8:33 PM BST
Why is there an incentive for
British companies to relocate within the eu?
Report lfc1971 September 22, 2021 8:38 PM BST
Look at it this way , a tender is put out by a British company . A British company says it can manufacture 50 items at a cost of 100 pounds
And a German company says it can manufacture 50 items at 100 euros
Who wins the tender ?
Report lfc1971 September 22, 2021 8:38 PM BST
A British company is paying the bill
Report ----you-have-to-laugh--- September 22, 2021 8:39 PM BST
Where are the items
to be delivered?
Report lfc1971 September 22, 2021 8:41 PM BST
Yes we know there are supplementary costs
That is neither here nor there as it is up to the British and German company to deliver the items
At said price
Report lfc1971 September 22, 2021 8:42 PM BST
Who wins the tender ?
Report 1st time poster September 22, 2021 8:42 PM BST
think i heard a steel expert on tv yesterday say british steel making currently pays 188 mill more than their competitors in up front energy costs,i summise thats per month
Report ----you-have-to-laugh--- September 22, 2021 8:45 PM BST
If the Germans can manufacture
and deliver quality tvs to
Norf East engerland at a 20%
saving on those made on the doorstep
then somebody ain't trying
or we need to cancel brexit

It sounds like it's a disaster
if that's the case
Report macarony September 22, 2021 8:47 PM BST
That will be the green taxes brought in by Tony Blair lots of examples of companies going bust or just going because they couldn't buy in cheap enough gas, but the crazy thing is for the amounts involved they could be making their own and for pennies on the pound
Report lfc1971 September 22, 2021 8:49 PM BST
The German currency is 30% undervalued so it is not a level playing field
( plus sterling is overvalued on top of that )
Report ----you-have-to-laugh--- September 22, 2021 8:53 PM BST
Lol
Report lfc1971 September 22, 2021 8:55 PM BST
The world trusts sterling , they want to invest in sterling , in property and in banks and in the U.K.
It’s a very old and established currency more so than any other perhaps in the world
It’s value reflects that - but it doesn’t help the balance of trade - against the euro
Which because of certain fundamental issues means that it is not quite so trusted
Report ----you-have-to-laugh--- September 22, 2021 9:06 PM BST
What so euro is not trusted but 30%
over valued...

Lol
Report lfc1971 September 22, 2021 9:08 PM BST
Yhtl I said that Germanys currency is 30% undervalued
Report lfc1971 September 22, 2021 9:11 PM BST
It’s undervalued because Germany alone is not liable for all of it if it goes bad -
Investors don’t like the idea of that
Report ----you-have-to-laugh--- September 22, 2021 9:12 PM BST
Sorry yes, my bad.

I'm on to my broker switching to euros
Report lfc1971 September 22, 2021 9:12 PM BST
It is Britain who is liable for sterling and investors money - they like that
Report cryoftruth September 22, 2021 9:14 PM BST
IFC
Your grip on economics is rather faint. Quite funny. But really you do spout some bilge.
Report lfc1971 September 22, 2021 9:18 PM BST
It’s not economics CoT so it’s a good start if you understand that
Report lfc1971 September 22, 2021 9:24 PM BST
It’s more science and logical thinking - too difficult for you ?
Report lfc1971 September 22, 2021 9:26 PM BST
They don’t teach logical thinking in school do they ?
Report Giuseppe September 22, 2021 10:04 PM BST
lfc doesn't understand currencues either

this problem is deeper than I thought

"A British company says it can manufacture 50 items at a cost of 100 pounds
And a German company says it can manufacture 50 items at 100 euros "

so the british company can produce them for 100 pounds and the German company can produce them for 80 pounds?
Report Giuseppe September 22, 2021 10:05 PM BST
lfc or macarony

this question i keep asking

a mercedes costs 100,000 pounds in Dublin

how much does it cost in Dublin?
Report Wallflower September 22, 2021 10:05 PM BST
Trust?

Euro is the world's second largest reserve currency  after the dollar.

The US dollar and the Euro are the only serious reserve currencies in the world.  Sterling less than 5%.

Our half-arsed media prattle on about the "failed euro" - a currency that has appreciated significantly against sterling since its inception, and Sterling is not in the same league ( second division) as the Euro in terms of world standing.

Reserves, international transactions (over 80% are done in dollars or euro)
Report Giuseppe September 22, 2021 10:05 PM BST
London and Dublin
Report Giuseppe September 22, 2021 10:05 PM BST
Brexiters Crazy
Report Giuseppe September 22, 2021 10:07 PM BST
"undervalued" means it  should be worth maybe 85 pence instead of 80, not 1 pound
Report lfc1971 September 23, 2021 8:12 AM BST
Giuseppe - the German currency ( it doesn’t matter what it is called ) is undervalued by about
Because of the structure of the EU and the fact that Germany is not alone in being liable for that currency each EU country is together
It is the currency of 27 different countries and investors are wary of losing their money if things go wrong
This is why it is undervalued for Germany - because until something goes wrong it doesn’t impinge on the German economy or its ability to trade today. Now and for years they have been trading with an undervalued currency meaning they can in very real terms dump their goods into the U.K.
( who’s currency is overvalued in plainly trading measures on top due to sterling being so well trusted due to various factors) Hence the trade deficit with Europe
Report lfc1971 September 23, 2021 8:14 AM BST
* by about 30%
Report lfc1971 September 23, 2021 8:21 AM BST
Now a Mercedes that costs 100 pounds in Germany  - is going to cost 100 pounds plus the exchange rate plus the 30% plus the amount that sterling is overvalued if that Mercedes is bought in Britain
Where do you think someone in Britain will buy that Mercedes , in Britain or in Germany ?
Report irishone September 23, 2021 8:28 AM BST
lfc197122 Sep 21 19:55Joined: 06 Nov 11 | Topic/replies: 54,024 | Blogger: lfc1971's blog
The world trusts sterling

No they dont
Many ex pats have had their british bank cards seized at Eurobank ATMs in the past nine months
Report unitedbiscuits September 23, 2021 8:33 AM BST
The world trusts the $. Whenever a crisis looms, money runs to the dollar. But the Euro is clear second in importance and sterling is neither here nor there.
Report lfc1971 September 23, 2021 8:35 AM BST
What you and others are missing Giuseppe is that it is not the difference in currency values that is the problem as such
But the way other factors outside trade related costs factor into those currency differences
In Germany’s case it’s currency is undervalued due to factors outside trade and Britain’s is overvalued due to factors outside trade
This effects trade and is not a level playing field and will create a trade defecit inevitably between Britain and the EU without checks.
Report lfc1971 September 23, 2021 8:36 AM BST
sorry to hear that irishone , apologies Sad
Report lfc1971 September 23, 2021 8:41 AM BST
On the broader point United biscuits and irishone the world trusts sterling more than any other currency , because the world trusts Britain
more than any other country
Report macarony September 23, 2021 9:06 AM BST
So trade deals what are your thoughts?
I think they are symbolic than practical look at the big stories of the last few years we being torn in two different directions big trade deals and climate concerns at the moment they are incompatible. Dragging goods halfway around the world dose not make any sense unless its raw materials or particular food like bananas that as yet is not grown commercially here. Then there is trust and the fight for power and influence, no trade deal comes without strings attached. IMO in the very near future regardless of the company most items will be made locally the technology is already here to greatly automate production, this of course will bring its own set of problems but better these problems than the site are in today
Report Wallflower September 23, 2021 10:12 AM BST
"Dragging goods halfway around the world dose not make any sense".

Signs of life here - exactly.  That's why countries have bigger trade deals with their neighbours. EU single market (British invention, by the way) being the most successful, and the one most copied worldwide.  That's why  30% of US trade is with Canada/Mexico - its geography. Geography and trade go hand in hand - a lesson we are slowly and expensively learning.

We continue to make complete t1ts of ourselves because we're looking to join all sorts of trade blocs (and follow their trading rules) because we don't want to follow the trading rules of our local trade bloc. Crazy, and why we are a bit of a laughing stock.


( I left your mis-spelling of does and in italics, as it reminded me of when doing a finals exam I was writing away in full flow, and then had a mental block - couldn't spell "does"Happy)
Report macarony September 23, 2021 10:22 AM BST
Apart from various fruit and vegetables from southern Europe there is nothing we can get from Europe that we can't produce ourselves and even this is starting to change
Report macarony September 23, 2021 10:32 AM BST
Its no good been part of something if it is not working for you and there are plenty of problems with the EU, but by far and away the biggest was not listening to your own members concerns. Senior British politicians and the EU knew there was a large selection of the British public that had issues with the EU yet in a display of staggering arronce neither one tried to do anything about it choosing instead to mock and ridicule anyone who dare criticise the EU.
Report Wallflower September 23, 2021 10:34 AM BST
..... ehmm, what about selling produce?

It's not about self-sufficiency - it's about creating a bigger market. The bigger a market becomes what follows is more trade, more jobs, more revenue, more investment (including public services), less tax.

When I worked in Ireland, I found they just "got it". They were EU funding recipients for years - they became wealthier - they bought more German / French / Italian goods and services etc. Now they have been EU donors for years but they understand by doing so, Latvia, Estonia, Romania etc will be able to be their produce, not just the Germans and French etc. So they have no issue in helping to develop other regions. Long term gain for their businesses - their own market is only 5 odd million, its tiny. Now as Eu members their market size is huge.

So - its not so much about trade in individual goods, its about creating a bigger 'local' market.....(on a level playing field for all - thats why there are rules and standards).
Report Wallflower September 23, 2021 10:39 AM BST
A large section my ar3e - in a survey before Cameron promised a referendum EU membership wasn't even in the top 10 issues of the British public.

Suits me, dont care - will be a big factor in Scottish independence (Brexit is a godsend from that perspective).


Its misguided ideology. Nothing was written down - the "issues"  were immigration, trade, contributions - what else. None of those three stood up to any scrutiny anyway.

Always said it. If EU parliament was located in London, the EU would be a great idea.

EU glad to be rid of us anyway.
Report macarony September 23, 2021 10:40 AM BST
That is yesterday's thinking 20 years ago I would have agreed with you but times have moved on, the old ways have contributed to the problems we have today. Automation and robotics are coming weat her we like it or not
If you can produce all you need here then why take the chance on relying on someone else?
Report unitedbiscuits September 23, 2021 10:42 AM BST
On the broader point United biscuits and irishone the world trusts sterling more than any other currency , because the world trusts Britain
more than any other country
- lfc1971


Maybe once upon a time but, alas, not today. I don't think our PM comes across as anything other than a chancer.

Perfidious Albion 1 ROW 0
Report macarony September 23, 2021 10:47 AM BST
Immigration had huge impact on the working class in both housing and wages but dismissed it as been nothing that my is good example of where you went wrong in the first place. Now you're little rant about Scotland.Now I live in Carlisle and wish my Scottish friends and relations nothing but the best. Under the right leadership Scotland can succeed, a low population two massive natural resources wind and water well respected products everything from soft fruit to whisky.
Report unitedbiscuits September 23, 2021 2:15 PM BST
You seem like a decent guy macarony. We don't have to agree on Brexit. But you were wrong in the way you calculated exchange rate impact yesterday. Just acknowledge and move on; it is unmanly not to.
Report macarony September 23, 2021 2:38 PM BST
I accept your apology
Report unitedbiscuits September 23, 2021 2:53 PM BST
Ha ha.

You really have left your brains in boiling water too long, macarony.

Go your own sweet way.
Report Giuseppe September 23, 2021 2:56 PM BST
lfc what you are saying about Germany and the euro, it being undervalued and this allowing Germany to export cheaply

why wouldn't this also be the case for the UK if it joined the euro?
Report Giuseppe September 23, 2021 2:58 PM BST
"Now a Mercedes that costs 100 pounds in Germany  - is going to cost 100 pounds plus the exchange rate plus the 30% plus the amount that sterling is overvalued if that Mercedes is bought in Britain
Where do you think someone in Britain will buy that Mercedes , in Britain or in Germany ? "

ok lets simplify this and lets leave out taxes and other expenses

a 100,000 GBP mercdeds in London

how much does this cost in Germany (in GBP)?
Report Giuseppe September 23, 2021 2:59 PM BST
"The world trusts sterling"

why is the euro, not sterling, the world's second reserve currency?
Report Giuseppe September 23, 2021 3:00 PM BST
"In Germany’s case it’s currency is undervalued"

you keep stating this like it's a fact

that is your opinion
Report Giuseppe September 23, 2021 3:01 PM BST
"This effects trade and is not a level playing field and will create a trade defecit inevitably between Britain and the EU without checks."

so why not join the euro?
Report Giuseppe September 23, 2021 3:02 PM BST
"the world trusts Britain more than any other country "

after what you did to France I'm not sure that's true
Report Giuseppe September 23, 2021 3:06 PM BST
you're saying the euro is undervalued because it consists of a variety of currencies

say 1 EUR = 0.80 GBP

if Germany still had the DEM it would be worth a bit more (say 0.85 GBP)

whereas if Greece still had the drachma it would be worth maybe 0.75 GBP

and the average of these is 0.80 GBP which is less than 0.85 hence German exports have advanatge

there is some truth to this but remember half of Europe is also OVERVALUED as a result (Portugal, Greece etc.)

this gives you and advanatge when exporting to those countries

Germany isn't the only country in the eurozone
Report irishone September 23, 2021 3:24 PM BST
Seven in a row

Desperate attention seeking
Report Giuseppe September 23, 2021 3:26 PM BST
at least i'm not a racist
Report unitedbiscuits September 23, 2021 4:02 PM BST
Suits me, dont care - Brexit will be a big factor in Scottish independence (Brexit is a godsend from that perspective).

Five years on, and further away from Scottish independence than you were five years ago, are you sure about that brilliant machiavellian strategy, Wallflower?

Surely the catalyst will be the succession of the Crown.
Report SirNorbertClarke September 23, 2021 4:06 PM BST
Joe is confused again; the only people considering a hard border on the island of Ireland is the EU.
Report lapsy pa September 23, 2021 4:07 PM BST
Not sure about that UB,i think there will be a backlash in the next few months when peoples pockets are being hit,the Scots have the moral highground as this is being inflicted on them despite being against,i won't under estimate that at all.
Report macarony September 23, 2021 4:32 PM BST
Apart from the ones who voted for Brexit over 1.2 million let's not forget that all votes for or against counted towards the final result
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