The Yanks are coming........12 Sep 2020 13:32
I mentioned a couple of days back that there was talk about the US looking to buy back into our markets here after ‘shorting’ them for the last three years or so. Well yesterday George Soros dipped his toe into Foxtons and bought just over a 5% stake in the company via his London finance arm SFM UK ltd.
It wasn’t headline news okay but with the Chinese ready to dump all its US Treasuries in its tit-for-tat spat with the USA, we will soon start to see if not already, the de-dollarisation of the world’s economy that only a few market experts (and no not motley tool !) predicted some ten years ago or so.
So what will Apple, Google et al do with all their trillions of dollars, even Warren Buffet is currently sitting on over a billion dollars for his clients earning absolutely nothing, nil, zilch, nadda ??
Something else that is really interesting, sterling has done nothing over the Summer months, if anything it showed glimmers of strength even with Brexit negotiations (yawn), Coronavirus (yawn), those dull No. 10 daily briefing bulletins (yawn) and sadly and very depressingly those mass layoffs of staff which we heard about and a lot that didn’t make the headlines.
Now that Summer is over and everyone was supposed to go back to school and to work on Tuesday 1st September now take another look at what the pound has been up to.
Is our government effectively telling the whole world that UK PLC. Is up for sale ???
https://www.marketscreener.com/quote/currency/BRITISH-POUND-US-DOLLAR-89717/charts/
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