Connected Research

Union policy research in the 21st century

Tobin growing stronger

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Two quotes taken from a piece on Citywire this morning entitled ‘Pound on the brink of collapse’.

The first, from ‘legendary investor’ Jim Rogers (to set the scene and building on his views of a particularly armageddon-type ‘real recession’ which he believes is about to hit the UK economy):

Other currencies aren’t strong and the euro has real problems, with cracks much wider than Greece beginning to show, but it’s the pound that’s most vulnerable. In real terms, it’s already devalued against virtually every currency barring the Zimbabwean dollar and it’s especially exposed over the weeks running up to the UK election. In a basket of currencies, the pound is potentially a basket case. And that will put Britain in an extremely bad position for the shakedown.

And the second from ‘well-known trader’ Vince Stanzioni:

If the billionaires are betting on a second dip, the rest of the investment community should be doing more than looking on from the sidelines.

Remind me, please: the case against a Tobin Tax to deter currency speculation is what, again?

[Almost immediate edit: apparently the Rogers quote didn’t happen, never existed, quite outrageous, etc etc. Think my comment remains accurate, though!]

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Written by Calvin

26/02/2010 at 11:19 am

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