[greenwich26]

> Advertising must be clear that the value of investments, unless guaranteed, could go down as well as up, ASA rules stipulate.

One thing you can guarantee is that the value of GBP could only go down with these fools in power. Maybe we should have some rules stipulating that must be clear during political campaigning.

[retrac]

Surely with the debt load the UK has right now, one can only hope the GBP depreciates at a slow but steady rate over the next few years?

Here in Canada it's considered a disaster if the dollar rises too much too quickly. We're an export-oriented economy and a rising dollar depresses the manufacturing and extraction industries every time it happens.

You say GBP going down like it's an inherently bad thing and I can't figure why. If either CAD or the GBP started consistently appreciating over time, both countries would be in quite a lot of trouble. In fact the monetary policy and debt issuance policies assume slight depreciation.

[greenwich26]

I understand the macroeconomic argument, but I still think that the fact that inflation will totally destroy an uninvested, normal middle-class-sized savings account in less than a generation is a huge obstacle for normal people building wealth. That is the inherently bad thing about it.

I primarily attribute the growing "wealth gap"---the growth in the net wealth owned by the top 0.1% of people, from a 5% share in 1970 to a 20% share in 2020---to the end of Bretton-Woods and the gold standard (1971).

[rchaud]

> One thing you can guarantee is that the value of GBP could only go down with these fools in power.

Value of GBP compared to what? £1 = £1

[Ancapistani]

> £1 = £1

Did.... did you just implicitly compare the Pound to Dogecoin?