Greek Financial Crisis

[chicoazul]

chico handles millions/ bundles of cash mate listen and learn,

Nice one for letting everyone know I work in the Post Office.

Sake edge lid.

 

[edge]

Is right. You do that lid, it's painful to watch him bumming you hard on anything business.

just business

 

[Toffeelover]

Nobody pipes down @bizzaro like @the esk does it, Damo is all over the show.

Two things I've learned today:

1. Damo is a badly amateur businessman.
2. Damo is a Tory, suppose he's from the Wirral so it figures.

Now FINISH HIM esk lid.

No,no mate, could be from Crosby or Southport or that other rich place Garstang!!

 

[The Esk]

But the 50k bet is capital tied up till the Euros arrive right? Or is my ignorance of all things gambling, (which it sort of is), really showing me up now?

No, there's just a margin requirement. So in the example I gave €50,000 would have a margin requirement of 0.5%

 

[Joey66]

They gave us a load of old pre-WW1 rustheaps (so-called 'liberty ships') & charged the earth for them, as well. And, IIRC, I don't remember much help trying to stop the exocets from getting into Argentinian hands during the Falklands - or asking permission to invade Grenada.

Yes Harold Wilson stopped the war payment once in power the USA took us for mugs over Army supplies in ships etc that were past there sell by date!

 

[bizzaro]

It would take you 5 minutes to do it.

For example I know I am going to receive € 50,000 in Euro's this year from my European clients. It's Jan 1st and the exchange rate is 1.2888 so that's worth £38,819. I fear that the Euro is going to weaken, so I short the Euro with a €50,000 spread bet EUR/GBP @0.7763.

Today I receive my Euro's from my client but with the exchange rate at 1.407 it is only worth £35,536 a loss of £ 3,282.

However I close out my short spread bet @0.7113 giving me a profit of £3,250 on the trade.

Net result - a cost of £32

Anyone can do it for any amount.

The word I had back today. Its simply not worth while for the business we are in.

Plus again. You need someone to administer this. I certainly do not have the time.

 

[roydo]

No, there's just a margin requirement. So in the example I gave €50,000 would have a margin requirement of 0.5%

Lost me already mate. So if it worked the other way round, and you got more in Sterling than today, that gain would be negged by the loss on the spread bet?

 

[edge]

The word I had back today. Its simply not worth while for the business we are in.

Plus again. You need someone to administer this. I certainly do not have the time.

your on here and wiki all bloody day , never mind you havnt got the time

 

[Brennan]

The word I had back today. Its simply not worth while for the business we are in.

Plus again. You need someone to administer this. I certainly do not have the time.

Haven't got the time but you've got time to chat bubbles on here for 25 hours a day.

OK MATE

 

[Toffeelover]

The latest out of the other Eurozone to Greece appears to be one of "up yours". It was added they are waiting to hear what Greece has to say. It has been commented by a Minister the banks can only last 48 hours.

 

[Brennan]

your on here and wiki all bloody day , never mind you havnt got the time

Snap.

 

[The Cowboy]

It would take you 5 minutes to do it.

For example I know I am going to receive € 50,000 in Euro's this year from my European clients. It's Jan 1st and the exchange rate is 1.2888 so that's worth £38,819. I fear that the Euro is going to weaken, so I short the Euro with a €50,000 spread bet EUR/GBP @0.7763.

Today I receive my Euro's from my client but with the exchange rate at 1.407 it is only worth £35,536 a loss of £ 3,282.

However I close out my short spread bet @0.7113 giving me a profit of £3,250 on the trade.

Net result - a cost of £32

Anyone can do it for any amount.

No, there's just a margin requirement. So in the example I gave €50,000 would have a margin requirement of 0.5%

Or a premium if you were to go for an FX option.

 

[roydo]

The latest out of the other Eurozone to Greece appears to be one of "up yours". It was added they are waiting to hear what Greece has to say. It has been commented by a Minister the banks can only last 48 hours.

Back on topic, we are talking about spread betting and stuff here.

Oh, hang on, soz mate.

 

[Toffeelover]

Blimey, all these financial wheeler dealers wizards on GOT. Why aren't you getting hold of BK and buying him out?

 

[chicoazul]

The word I had back today. Its simply not worth while for the business we are in.

Plus again. You need someone to administer this. I certainly do not have the time.

AHAHAHAHAHAHAHAHAHAHAHA.