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ahh GBP. I [img]/images/graemlins/heart.gif[/img] u

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heh. thats the next major currency to hit the crapper. UK's economic boom, much like the US's, has been predicated on vast expansion of credit (to record levels as % of GDP). the housing price boom (more drastic than US's) has furthered this in a positive feedback loop. inflows to the UK will likely be significantly hurt once the BoE has to start intervening (probably in the next 1-3 years).

there are also now structural problems since tony blair's (read Gordon Brown's) decision to separate the regulators from the managers (i.e. the FSA is not connected in any way to the BoE) in the late 1990s. the northern rock debacle was likely a direct result, at least in some part, of that policy.

so <3 the pound now, but i'd look to diversify some GBP holdings into both EURs and JPYs.

Barron

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although this is not right forum, i thought i might just say, i think it is more likely 3-5 years, as i dont think gordon will let it happen soonish or else he is out of no 10 when election comes imo and he got us into this trouble of impending doom, he doesnt want to be prime rib when it happens