Originally Posted by
Kiltman
Somehow, a little history takes some of the sting out of current rate.
It might put things in perspective but the sting is bound to still be there as it still has an effect on domestic inflation.
We experienced this in the late 60s when the Wilson Government devalued the Pound even thought Wilson came on TV to assure us that this would "have no effect on the pound in your pocket or your purse."
Of course it does, it affects the balance of trade especially when things have to be imported (such as oil which increases transport costs and leads to increased prices).
[B][COLOR="Red"][SIZE="1"]Reverend Earl Trefor the Sublunary of Kesslington under Ox, Venerable Lord Trefor the Unhyphenated of Much Bottom, Sir Trefor the Corpulent of Leighton in the Bucket, Viscount Mcclef the Portable of Kirkby Overblow.
Cymru, Yr Alban, Iwerddon, Cernyw, Ynys Manau a Lydaw am byth! Yng Nghiltiau Ynghyd!
(Wales, Scotland, Ireland, Cornwall, Isle of Man and Brittany forever - united in the Kilts!)[/SIZE][/COLOR][/B]
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