The then Labour government started to print money like it was going out of fashion and naturally I reacted by building up a small stash of baked beans to hide under the bed. When the "crash" came I was going to survive just that little bit longer than anyone else in Earls Court bedsitterdom! After a few months the crash hadn't occurred and I had to open the cans and eat the damned beans. But was I wrong or just too early?
In October 2007 I decided to open a Euro deposit account. I got the distinct impression that the folks at my local bank saw this as a rather odd request. It took a few days to set things up and the account showed a loss after a week or so. But earlier today my Euro account went up by £15 in the time it took to drink my first cup of coffee. I'm now almost 5% up in three months.
Here's today's chart:
It's not just the pound against the Euro. Gold has gone up today by 3.32% in sterling terms. I've been thinking of getting a new lens for my camera for a while. Perhaps I should order now. It looks like the pound is going down faster than the productivity of Chinese factories goes up.
In the meantime politicians want to make it easier for people to go bankrupt.
Must get some more beans...