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Uncertainty June 9, 2017

Posted by P, J, or J in Uncategorized.
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certaintyAfter a very turbulent night we now have a promise of certainty. But a lot of people may not be sure.

In addition to concerns about the UK election and the future governance of our country we’ve been a little preoccupied by the currency market recently and it’s impact on our own family.

Having sold a house in Canada we are buying one in Britain but it’s been hard to know how much our money is worth.

It would have been simpler if we’d lived in Jersey.

JEPvGBP

The exchange rate between the Jersey Pound and the British Pound is pretty even. It’s a bit like trading between French Euros and German Euros.

The exchange rate between the Canadian Dollar and the British Pound on the other hand…

GBPvCAD

Currencies can be quite volatile things and of course it doesn’t just depend on what’s happening in one country.

The price of a house is a lot to gamble. Which way would you have predicted the rates went next? (you can find out here on xe.com/currencycharts/?from=CAD&to=GBP )

We definitely didn’t move our money at the best time but we didn’t move it at the worst, and we’re (probably) not going to lose the house over it.

Our new house is very different from the one we sold in Canada, and very different to what we might afford in London (England), even in another part of our town.

The world is not an even place and there are valid arguments for saying that it shouldn’t be. The challenge is how much inequality and instability is okay?

And how much, when I win out in a deal do I care about those who lose out?

It is possible to have situations where both sides win, but usually where there is a substantial imbalance of power everything else follows. When things are good  the rich benefit a whole lot more than the poor, and when they are bad the better off are usually better equipped to whether the storm.

Certainty isn’t the same as hope. Stability for the economy isn’t the same thing as equality, or even security, for families across the nation.

A lot of people still think the UK election has been about Brexit, the markets and trade with Europe, for others it has been about our schools, our NHS and fairer deals for the many not the few.

What happens next is still a gamble. I’m praying that in the long term we all win.

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