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Mi Amigo
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Location: Kinto Pino

Postby Mi Amigo » Thu, 05 Sep 2013 4:35 pm

AngMoG wrote:mind boggling. Spending so much money with virtually nothing to show for it... :shock:

Reminds me of the fiasco Norman Lamont (UK chancellor) got into back in the days of the ERM (European Exchange Rate Mechanism - the forerunner of the Euro). In trying to prop up the value of sterling (opposite problem to this one, but still trying to play King Canute), he basically handed over a billion quid to George Soros & Co., then ended up baling out in the end anyway.

Black Wednesday

... And those were the days when a billion quid was a lot of money... :twisted:
Be careful what you wish for

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ScoobyDoes
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Location: A More Lucky Spot

Postby ScoobyDoes » Thu, 05 Sep 2013 5:15 pm

AngMoG wrote:I think if the SGD appreciates notably, that puts SG in a much worse position; it is expensive enough as it is already.



Technically the appreciation of the SGD was supposed to make things cheaper here. Most materials and product is bought into Singapore so a higher SGD would make everything coming in cheaper but the annoying thing was, even as the SGD went higher so did the prices here.

With regards the HKD, given its direct link to the USD at a fixed exchange rate, the theory there was that at least they are linked to the world's 'reserve' currency meaning a good deal of product required would not change significantly.
'When Lewis Hamilton wins a race he has to thank Vodafone whereas in my day I used to chase the crumpet. I know which era I'd rather race in.'

SIR Stirling Moss OBE

chaaraard
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Joined: Sat, 14 Sep 2013

Postby chaaraard » Sat, 14 Sep 2013 5:17 pm

Scully: "Gee Mulder, so what does this all mean?"


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