Post by Peter T. Daniels Post by Whiskers Post by Peter T. Daniels Post by Whiskers Post by Peter T. Daniels Post by Peter Moylan
From today's spam: a generous person is offering me a share in "an
unclaimed fund total sum of Sixteen Million Great British Pounds".
Is there any such thing any more? A story this morning on
*Marketplace* about the damaged Irish mushroom-growing industry said
the pound might soon be at par with the euro.
That, surely, is an added incentive to grab the Sterling sooner rather
Eh? Whatever you have in the bank will be worth less when that happens.
Sterling is currently 'above par' with the Euro, ie a £ is worth more
than a €, but the speculators' trend is towards parity or beyond. So
getting £s now will garner more €s in exchange than getting £s in a
year's time will be likely to do.
That's the reason to _sell_, not keep (hoard), Sterling now.
But the 'generous person' is offering Sterling, and doing so now. So if
what you want is Euros, get the Pounds /now/ so that you can swap them
for Euros /now/ at what may be the most advantageous rate. You can't
sell /now/ the pounds that you might have at some future time . If
you delay taking the money, you may lose out on the anticipated decline
in the exchange rate.
 Well, you can, but then you will have to have the pounds at the time
you've promised to deliver them, no matter what it costs you to get
them. You'll be trading in the 'futures' market, a highly speculative