Weird financial markets

17:05 Pound fell around a cent against the dollar following that statement from Gordon Brown.

17:04 Well, real drama to end the day. Gordon Brown has said he plans to step down as Labour leader and opened up the real prospect of a Lab-Lib coalition.

Who knew the pound would *fall* when Gordo said he would go?

15 thoughts on “Weird financial markets”

  1. ..and the more the talking heads keep this on their screens the lower the pound will fall.

    The very last thing the markets want is any more of GorDoom, Saviour of the World.

  2. The “resignation” was only a promise to resign once a new labour leader has been selected- “hopefully” in time for the party conference in autumn- maybe others were hoping to see him go a little sooner.

  3. Who cares about the markets?Did n’t we join the EC to be insulated from the speculative interference of morons? Did n’t we suffer a run on the pound ,orchestrated by the Americans ,to stop us in our tracks during Suez?
    Mind you according to that logic the pound should have surged on GB’s resignation.

  4. guys…surely this raises the chances of a magic inter-regnum….when we finally learn how little we need the politicos and talking heads. Taxes will be collected. Benefits will be paid. Quango bosses will be waged. We only need the politicos in case of war and to set the annual tax levels and spending envelopes. Can we not outsource them to a cheaper off-shore locality?

  5. I just love it when financial reporters say ‘the pound was down’. There’s a lovely music to the phrase. It’s as if the word ‘pound’ was invented for just that purpose.

    I regularly go to a Melbourne pub for poetry readings and last year I did a piece that was quite popular, but the line that got the most laughs was when I said – ‘and the pound was down’. So it’s not just me.

  6. The pound fell because the FACT of GB out NOW was cancelled.

    Time to cancel this nonsense that “65 % did NOT vote for Cameron”.

    So how many % doid NOT vote for Brown as PM ?

    Was it approx 99.999999999999999 repeating % ?

    Fcuk off NOW, chump ?

    Alan Douglas

  7. Brian, follower of Deornoth

    You’ve got it all wrong. The pound fell when Gordon Brown announced he’s resigning in the autumn.

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