Tuesday, 2 August 2011

LET ME TELL YOU ABOUT FOREIGN EXCHANGE-THE EXPERTS TALK SHITE!


As some of you may be aware, through a bit of bad and good luck, we have purchased a property in the Costa Calida in Spain, near Mazarron, (available to rent shortly at keen prices)!

Now that is not the point of this post, but as we have a really good 'rent to buy deal', I have 18 months to move the money across to Spain to complete the purchase.  Some of you won't, I am sure, be aware of the fact that if you do it through your bank, the fuckers, will screw you on the exchange rate, so it is better to use dedicated foreign exchange companies.

As you would expect, I have, ploughed the Internet, taken a plethora of info in, about how the exchange rates will work.  It makes a big difference to me because it could make a difference of around £20k in the purchase price, depending what the Euro is doing.  In such times of flux, one is looking for a bit of good info.

I've come to the conclusion, however, that they don't know what the fuck they are talking about!  Since I was in Spain in May, the Euro has fluctuated between 1.12-1.14, fuck all of a difference, yet I am bombarded daily, (by my own insistence granted), with all this info about the pound being influenced by unemployment figures, inflation, factory output, consumer confidence, etc, etc.  All of which it seems to me, means fuck all!  You would be better sticking a pin in a bit of paper.

I remember meeting my Brother-in-law in the City of London, just after the crash and seeing brokers, pissed up to their eyeballs at lunchtime and thinking to myself, "fuck me, it's no wonder there was a crash"!

2 comments:

throbber said...

Looks like things are going to start kicking off in Spain with it's imminent default and bailout. Probably make the riots in Greece look like a Sunday picnic. No chance of bailing out of your house deal and renting until things blow over ?

Billy said...

Looks like things are going to kick off in Italy soon now as well - time everyone got a backbone and said sod off to the bankers who are doing all this and set up a new system that cannot allow anyone the power to do this again.