The author of “Hot Commodities” believes the beginning of the collapse of the UK will start with the Pound, adding that the Pound has devalued against all other currencies and is a “basket case,” which will put Great Britain in a bad position when the “shakedown” occurs.

“It sounds like a lot of doom and gloom. But it doesn’t have to be. With foreknowledge, experience, advice and skill, even the steepest downward slide can be turned to advantage. Recession can be just as much a source of wealth as growth.”

Greece's debt crisis has plunged the euro into a ‘ difficult situation’, the German Chancellor Angela Merkel admitted last night, prompting fresh fears about the collapse of the single currency.

In the gravest sign yet of the international threat posed by Greece’s crippled economy, Mrs Merkel warned for the first time that the eurozone faces a ‘ dangerous’ period

Originally posted by AlwaysQuestion

So we have the GBP and the Euro... we knew the Euro was in trouble, but I did not realise it was taking hits like this - when these guys play with money they generally are ensuring they win!

Originally posted by Tiger5
reply to post by Signals

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Well the problem was that we switched from a manufacturing-based economy to a Knowledged-based economy but we were not sufficiently good at the latter. Also the knowledge is held in individuals who are free to leave the country for better pay.

I cannot see how we are going to get out of this mess...

Look at Greece. Joining the Euro does not guarantee a strong economy.

T

The man who broke the Bank of England in 1992 is said to be at the centre of a plot to cash in on the demise of the euro.

George Soros's investment business Soros Fund Management is among a group of heavyweight Wall Street hedge funds which have launched a series of massive bets against the euro.

The bets came after an all-star 'ideas dinner' in New York where some of the world's most powerful currency speculators argued that the euro will plunge to parity with the U.S. dollar.

The single currency has been under enormous pressure because of Greece's debt crisis, plus financial worries in Portugal, Italy, Spain and Ireland.

The euro traded at $1.51 in December, but has since fallen to $1.34.

Traders are borrowing 20 times the size of their bet, boosting their potential gains and losses so that a euro move to parity with the U.S. dollar could represent a 'career' trade.

If investors put up $5million to make a $100million trade, a five per cent price move in the right direction doubles their initial investment.

Details of the secretive dinner emerged in the Wall Street Journal just days after Mr Soros warned in a newspaper article that the euro could 'fall apart' even if the European Union can agree a deal to shore up support for stricken Greece.

Read more: www.dailymail.co.uk... ggKKrMnt