UK

ihavearoomba

If you're ever in the UK, never let the authorities know you stole gold in runescape. Thank me later.

PushAble2463

Between like 780-850 Norwegians pillaged whatever they wanted from the UK. In 849 they fucking sieged Paris. Today we rely on oil..and eat fish and potatoes

ThinkingOfTheOldDays

In 1997 the UK economy was larger than India and China's combined.  Pretty crazy

chuk_norris

The fed chair doesn't ultimately control interest rates. Neither does the president. It's the treasurer market that dictates interest rates ultimately. Something like what happened to UK gilts in 2022 is bound to happen- where the government/ BoE were forced to act.

IntrepidSoda

Aye - 3LSI (in UK)

RIP-RiF

Bro that's less than 1,000 hours of minimum wage for the UK. Get back on the horse or do something else, but this is the fucking JC Penny Catalogue of loss porn.

Amazing-Jury-6886

I got lucky, I sold my gold etf yesterday morning in the UK before US market opened.

Tammer_Stern

I live in the UK so the prince Andrew news is getting some media attention. How is the Trump news going down in the US? Crickets?

UntowardHatter

"Canada, the UK, the EU, China, and Japan all started to slowly sell Treasury Bonds. They did not bluff. They simply made a silent pact to remind Trump that the world doesn't just roll over and will hit back right where it hurts. The US Treasury Bond market is the backbone of the global economy." This has not happened before. This is not good.

Reasonable-Hedgehog6

UK has a great entry point

CrustyBappen

I went to watch a premier league game in the UK and overheard staff at the bar talking about their gold investments. It was clear this time was coming.

SplitTrick3118

You are absolutely right to flag the **Selection Bias**. We are studying the 'Empire that Won.' If you ran this same analysis on the Russian stock market in 1917 or the German market in the 1940s, the 'Stocks always win' thesis goes to zero. Even Japan post-1990 challenges the 5-year timeframe (though the 20-year timeframe largely recovered). That said, while the *magnitude* of the US win (99%) is likely an outlier due to American Exceptionalism, the structural Equity Risk Premium tends to hold across most surviving developed markets (UK, Canada, Australia). To your point: This is the strongest argument for Global Diversification rather than pure US concentration. If the US mean-reverts, the hedge isn't necessarily 'Cash' (which suffers inflation risk), but The Rest of the World

ianvein

The precious metals market is controlled by a small group of ultra-rich people in the UK, so they're simply taking advantage of your FOMO

Timbo1994

I am young and in the UK but have put 10% in long-dated index-linked government bonds (equivalent of TIPS)

rbraalih

Mate, the thesis did not change in 2000 that the internet was the way forward, nor in the UK and US railway manias that trains were here to stay. The gold thesis has been the same since literally before the invention of agriculture, writing and the wheel. There's always the usual soothing background hum of retardation here, and there's posts like this one which stand out like a stallion's cock on a gerbil. But yeah high conviction trade, YOLO, leverage, let us know how it goes.

SangerGRBY

Scrolling through Elons twitter to see if there's any reason why TSLA is pumping and all I see is AI gifs and UK politics. The old Elon spams Tesla all day.

FBIseeyou

UK broker IG cancels margin increase for gold and silver after sending out email in 'error'

j_hes_

Golden Sachs is a great broker for UK clients!

Square-Paramedic-890

It's not a discussion point. They simply have contracts all over the world and increasing (UK, Germany, Poland soon, etc.) and increasing. US government was 50% in Q3 i believe and it will continue to drop percentage wise.

not_a_robot_1010101

I don't disagree with you. But you said a crash in the dollar = 90%. It really doesn't & your points there don't relate to that. I'm from the UK and I'm afraid, as far as I'm concerned, Trump has damaged the relationship for at least a generation. We need to move towards Europe & China in order to balance & remove reliance on a country we thought we had a strong tie to (& was mutually beneficial as it gave the US massive influence). Now it's just shown we're vulnerable. Same for Canada. Same for the EU. Trump has aligned with dictators & fucked the US in terms of allies... we wouldn't be there for the US he said? The ONLY time NATO has come together was for the US! He's a cheeky fucker with no grace, no diplomacy, & I can only assume fits clinical levels of psychopathy. However, the dollar is weakening to the point of a crash & it doesn't take 90%. And right now, it is the reserve currency, & that might change, but the US will go to war before it does. The reserve currency doesn't just swap to the EURO or Yuan & we move on. There would be world war to stop that, especially with this nutjob in charge. If the currency devalues too much, it's still the most powerful currency, your stocks, my stocks, pensions... all fucked for a long time 🤦‍♂️ ... and 90% isn't needed is my thesis. I do agree Trump is destroying you guys though... seems you're connected enough to know we all think you've fucking lost it!!

Mr-Crumpet

IG are doubling margin requirements for gold and silver today for UK customers at 3pm

Lonely_Leopard_8555

I just don't know how any of us non-Americans can trust you for at least a decade or more, and that's only if you have a stable government throughout. It's clear that roughly half of the population are either insane or idiotic so when/if Trump goes, there will be some other lunatic to take his place. Having said that it seems the UK could be sadly heading in this direction. Bad times.

eurovi1

I bought Wisdomtree Silver 3x Short 3 days ago. Sold today the moment markets opened in the UK. Saw the news on my feed and all the alarms rang same as gamestock moment, margin increase, government trading halt, restrictions, platform glitches. Sold right away. **49.458$ in profit.** Now I need to go take some blood pressure meds, that's **my paycheck for like 2.5 years**. I'm cashing out.

HawaiiStockguy

Reserve currency for now. We are provoking our allies ( or now former allies). Canada is currently in talks with China. So is the UK. The reserve currency may become the Euro or yuan. The US has been destroyed by Trump. Putin finally won the Cold War, long after we thought that it had ended

jamieperkins9999

Im in the UK and the UK is not bitcoin friendly at all. They restrict how much bitcoin you can buy and they tax you if you sell, I know that 2nd part is normal for stocks too, however one thing good about the UK is we can have a stocks and shares ISA which you can put up to 20k a year into and any gains are tax free, so I use this for my investments. And due to the UK being anti bitcoin, I cant buy things like IBIT/BITX. But, I can buy a publicly traded company that is well established and is listed on the nasdaq, even if that company is essentially for bitcoin exposure, don't think anyone is buying MSTR for their tech company. So essentially, its my best way being in the UK to get near enough direct bitcoin exposure.

No_Nose2819

That sounds like a UK government policy.

2ndPickle

Hey man, one person bought a ticket to her movie premiere in the UK, that’s more than you can say

TheRedditModsSuck

>Most are in this because the products are actually good. There are a lot of reasons – the products are good, the ecosystem does lock you in, the brand name is extremely strong etc. In particular, Chinese people (not Chinese diaspora) are nowhere near as wealthy as people in the US/EU/JP/AU/CA/UK, but it's still pretty popular there because it's seen as a status symbol. The good thing is that you can't fake it either – you can get a make LV handbag, but a fake iPhone just isn't the same.

spac420

they have regards in UK?!

Bazzer82

Down on MSFT but can't even buy the dip becuase when it goes up 20% the dollar will have gone down 30% against the GBP so I'll lose anyway (in the UK). If I was in the US I would buy that dip bigly. Such a stupid drop. Only a matter of time until it rises violently.

bruhhzilla

don't diss UK drill

Modja

There are Wendy's in the UK, check it out

Wise-Belt9180

1-They don’t have Wendy in the UK 2- if he is in his 50’s no one is gonna hit that, not even behind the kfc dumpster 3- I shouldn’t have made this into a list got nothing more 🤣🤣🤣

Prize_Cheetah895

11K pounds is over 15000 USD. And salaries over in UK are like 3 times smaller.

Prior_North_2456

I dont think frameworks of concepts.of deals work anymore since he will just turn around and reapply tariffs at the slightest disagreement and taco anytime spy dips 2%. I think he just walked back the Korea trade deal. UK, Canada, and EU are making more trade deals than the USA since he got in. Trade deal bumps are so 2025.

Confident_Yak_1411

It’s just under half of a years minimum wage salary in the UK (£26kish).

Timbo1994

UK focused article but a good one https://monevator.com/dont-currency-hedge-your-equity-portfolio/

CasuallyMisinformed

Theres Wendy's in the UK, just not tonnes

SangerGRBY

Why is Elon still tweeting HENTAI GROK VIDEOS and UK politics this guy needs to shut the fuck up. Cant stand it when billionaires think they know whats best for the common folk. Fuck this POS.

Discount_LionSafari

I mean, you live in the UK so

pirac

The problem with nationalizing strategic industries is nationalizing possible huge mistakes. Instead of private companies paying for those mistakes having the people paying for them. There are industries that are more clear cut in their geopolitical importance, like say energy sector, etc. But in car industry, you could be making a good call or you could be creating an expensive problem, like the UK did with British Leyland, like Brazil did with their computer industry in the 60's. Right now China has subsidized heavily their electric car industry, and in a completely free market world they would be flooding every market, but we dont live in that world. And currently they are producing much more than what the market calls for, thanks to a state thats supporting it. We dont know yet if that bet will pay off, or it will bite them in the ass or all the options in between. Id say overall the best bet is to create the best conditions for the market to generate those industries, if the market cant generate them, a state artificially generating those conditions has to be well justified. Id rather the state be subsidizing free healthcare or education before doing that though.

BritishAnimator

Ahh, Facebook. That explains it. I talk to people face to face and it's a different story. Facebook is rife with posts from people that want a reaction. It's an addictive echo chamber for those that need to feel something, anything, even if it's dumb. Not saying it's not true what you see. But it isn't a good representation of the UK.

Proud-Durian3908

You joke but we do have Wendy's in the UK! We don't have in-n-out tho :(

lowprofitmargin

Buying WEBULL shares using Trading 212 UK instead of WEBULL UK...

ksuvuelalfusuwnsl

NFE stock is about to increase substantially due to a rare UK restructuring NFE is a US based company doing a UK restructuring. That almost never happens. I tried to find another public US stock that did something similar. The closest one I found was Fossil Group $FOSL. Fossil did a UK restructuring in November 2025. After that the stock went from around $1.9 to about $4. There was no squeeze setup there. Short interest was only around 13 percent. Borrow fee was roughly 10 to 15 percent. Float was not tight. $NFE is very different. Short interest is around 30 to 40 percent depending on the source. Borrow fee is already close to 100 percent. Looking at the options chain most of the short position does not look hedged. There is not much call coverage. If price moves up they have to buy stock. Also the float is locked 90% by insiders and institutions. Most people who shorted $NFE did it with one assumption. Chapter 11. Equity wipeout. UK restructuring is not that. It is a different legal path. Different incentives. Different timeline. Equity does not automatically go to zero. Preferred equity will be issued but that does not immediately dilute the stock, meaning shorts are caught in a squeeze Because of that the original short thesis breaks. Shorts are now stuck holding a position that is expensive to maintain and hard to exit if volume comes in. Fossil doubled with weak short interest and low borrow. $NFE has much higher short interest and much higher borrow.

TonyPace

How on Earth do you think think this supports your position that nothing changed? The UK and US both rose to dominance on manufacturing power. Japan and Germany tried the same path but were both choked off on energy imports. Now China has a good path to energy independence through manufacturing. Before, they needed energy trade. Now, in a pinch, they don't. That's enormous.

No_Love_Gained

> CBD acquisitions This was for all CBD players (incl the likes of CWEB) and may change fairly quickly with new CBD legislations in the pipeline HITI needs to strat showcasing their US and UK cbd brands more cos that's going to be the next big cpg play. Glta

Readonly00

Yeah.. but can't make the same 'easy' money off UK stock swings. Not many exciting high volatility high volume stocks on the ftse

Readonly00

Isn't that just the 1pm (UK time) people coming online? I always see a spike then

timeforknowledge

And new coal power plants... The UK is having to pay a premium to import fossil fuel power so they can brag about how green they are

CarRamRob

Eh, the USA still produces the most oil, LNG, and has more aircraft carriers. They may be 1870’s England, but if their wars vs what knocked the UK down are not comparable.

AliceNullptr

Does UK uses Euro?

akainokitsunene

It’s the elites that are hoarding gold like dragons…. Also when hyperinflation hits assets like gold skyrocket. Each time the value of gold doubled again the world reserve currency historically it announced a change in the world order and a new world power rising. Look at Spain, Portugal, the UK, the Netherlands. Once they were world powers before fading to oblivion. It’s time for the US and BRICS are gonna be the dominating financial powers by mid century.

tinydisaster

Interesting you mention that, I think 2 out of the 10 railroads in Britain during the Industrial Revolution actually made money. The rest of the massive track expansion went unused for like 20 years. It was handy in the long run, but horribly not profitable for 80% of the business players that were laying track. I’m doing this off the top of my head so there may be errors. Maybe someone from UK has woken up by now.

purplebrown_updown

yeah. Similar I think what happened in the UK. THey cut taxes on the rich, the debt spiked, the pound crashed. Might see something like this, if it's not already happening. Gold prices sky rocketing is almost equivalent to USD crashing maybe.

geneel

But of a reddit ourobouros https://www.reddit.com/r/AskEconomics/s/k3TJS7S70a QE never stopped it just got a different name and mechanism. US Fed is always a buyer of last resort so rates never rise above the target. Then one day someone realizes they can actually short the dollar and drive inflation and maybe change the government too (eg UK)

Eyclonus

The volume of the force depends on the amount of consent needed to persuade the people to back a war. With respect to the UK and Trump its a lot lower than it was with the US public and Russia in 2023.

OG_Tater

Canada was in India today making rare earths deals. The prime minister of the UK made the first visit to China in 10+ years today. Nothing to see here, just diversifying a tad…

derpskywalker

Idk, the first time I was groomed was on Roblox as a kid. The game wasn’t huge then, but this has always been pervasive on roblox and has only gotten worse. Age verification only exists because new UK laws require it and because of how publicized their long standing pedophile problem has gotten all of a sudden

Ticksdonthavelymph

There are more liberals in the US than the total population of Canada and the UK. Go fuck yourself for implying those of us who have been fighting this asshat for 11yrs deserve this

Technical-Row8333

all the comments ARE relevant to the price. the price will go up if they are successful at installing authrn states in the US, UK, etc. the price will go to zero, if these plans collapse and they all go to jail.

Fcbigdave

Same in the UK for our current PM

bmoney83

But most crashes are followed by a V, even if the US goes to war against Canada and the UK, the stock market will probably make a new record high 18 months later

dcrockett1

My GDP predictions for 2030: EU: 19.5 trillion U.S: 34 Trillion China: 22 trillion UK: 5.5 trillion

gizcard

Ukraine's lesson is crystal clear for every single country: 1) Get nukes at all costs 2) Never trust a treaty, gurantees, or alliance with USA For those without context: in 1994, Ukraine gave up the third (after USA and russia) largest nuclear arsenal in the worlds AND 2 components of nuclear triad (ICBMs and strategic bombers) in exchange to promises that USA, UK and russia will forever protect and respect it's sovereignty. No f\*@#ng russa murders Ukrainians daily, commits every imaginable war crime and the West is afraid because putin has nukes.

delete-from-acc

Shorting gold is the dumbest thing anyone can do at the moment. China are buying up huge quantities, central banks are wanting to hold more gold and sell off their dollar holdings (apart from UK cos we're morons), the paper market is broken, Trump is about to attack Iran, China will be taking Taiwan, Ukraine war is still ongoing. Dollar is dropping in value, china will want to base their currency on gold value. It's going to $10000 an oz by end of decade Madness

throwaway2676

UK diversity just can't stop winning

Stock_Succotash_1560

Bat 🦇 virus which kills 75% of infected and spreads from person to person is in UK now having traveled from India. Developing situation

CowabungaNL

My take: 1. Rising demand amid global instability: Countries are increasingly turning to gold as a safe-haven asset in response to geopolitical and economic uncertainty. For instance, the UK, Switzerland, and Belgium have been significantly ramping up their gold reserves, reflecting a broader trend of governments seeking financial security in turbulent times. 2.Dollar weakness drives asset inflation: The US dollar is rapidly losing purchasing power. As a result, assets priced in dollars, including gold, are experiencing a “melt-up,” with investors rushing to protect their wealth from currency depreciation. 3.US government debt is increasingly unattractive: a. Political pressure from President Trump to push interest rates lower conflicts directly with the Federal Reserve’s policy stance. This tension creates uncertainty and undermines confidence in US Treasury securities. b. The US debt trajectory shows no realistic path to fiscal improvement; deficits are projected to grow (i.e. 1.5 trillion military budget which in itself could spark a government shutdown), putting the country on a potential debt spiral. c. US geopolitical bullying has prompted other nations to reduce holdings of US Treasuries. Previously considered safe, these assets now require an alternative store of value—gold is the natural choice. Inflation persists (despite reporting from the current administration): Despite Fed interventions, inflation remains elevated across many sectors. Gold, historically a hedge against inflation, becomes increasingly attractive as investors seek to preserve purchasing power. Central banks and institutional accumulation: Beyond individual governments, central banks and institutional investors are diversifying reserves away from traditional fiat assets.

FeelTheEarporn

Sold one fucking ticket in UK in the cinemas, fucking dying

Due-Adhesiveness-744

Bro, this is the most braindead take. Trump's lying to you about London. It's one of the safest cities in the world. It's the best example of multiculturalism being a success. People live together, work together and things like racism are non-existant.  The right wing movement in the UK isn't coming from Londoners. Londoners that voted for a brown, Muslim mayor multiple times, with an 82% white population. The right wing movement is coming from people in the rural areas in the south, that have very few foreigners, and they're scared at the idea of foreigners.

jpewaqs

UK SMT has 15% of funds in space x

bridgford

1pm glitch, happens every day (1pm UK time). I somehow never remember and freak out every time!

Kaymish_

Nah. Baldylux has disappeared so far up Trump's arse in his effort to kiss every rancid fold NZ won't go near CANZUK until he is gone in October. And if I understand UK politics correctly Sir Kid Starver has done the same thing so the UK is out too making it CA.

Electrical_Ad_828

I am just waiting on abve audit release. They promised end of January release. So, we have three days. A reminder that they have already delayed it back in Dec. Peter Knez who is the president of Palm Global, the reverrse merger company, is speaking at a conference today at 9 A.M PST (5pm UK time). So, hopefully, we get some juicy publicity today. Both companies have been awfully quiet about the merger (basically none) since its announcement back in July.

Mba1956

The problem with using historical data is that the world has changed, the US isn’t seen as the safe bet anymore. Last year the SAP 500 was outperformed by the FTSE 100 and the weaker USD vs GBP made the difference far larger. As someone from the UK I would have made more money from an ISA than from investing in the US due to the weakened dollar. The US imposed trade wars on the world, for stupid reasons, it has followed that by threatening wars with numerous other countries, even its allies. The damage to its soft power and spending trends from foreign governments and consumers are downwards. Cheaper products caused by a weaker dollar are only great for exports when foreign customers aren’t boycotting them.

Due-Variety1611

sadly i was fast asleep in the UK at that time, it seems to be still going nicely, could hit 1

Interesting_Square54

At £100 a share not yet I hope. But they are releasing their service early this year in UK which might cause waves. No clue yet.

essexboy1976

It's definitely a good idea, if you're interested see my other comment which ( briefly) explains the tax advances of UK pensions.

CFDsForFun

I mean yeah could’ve gone either way, just a gamble really. I really like TSM but can’t buy in an ISA in the UK so never bought it.

timeforknowledge

Low dollar makes US goods more competitively priced, which means other countries still buy more US goods... Look at the UK and it's low pound, FTSE 100 went from 6800 to 10,000 since it left the EU and the pound crashed

Mumblage

UK GLD crew rise up! 😎✨

The_Insider_Edge

"The Company targets tripling export volumes by 2028. Efforts will focus on strengthening partnerships in existing markets (Australia, Portugal, Germany, Brazil, and Czech Republic) and entering new markets including the UK, Switzerland, Costa Rica and New Zealand, with investments in GMP/EU-GMP compliance and participation in international trade shows. KPIs include 100% YoY export revenue growth and adding 2-3 new markets annually." [https://herbaldispatch.com/blogs/investors/herbal-dispatch-unveils-strategic-business-plan-for-2026-to-drive-sustainable-growth-and-enhance-shareholder-value](https://herbaldispatch.com/blogs/investors/herbal-dispatch-unveils-strategic-business-plan-for-2026-to-drive-sustainable-growth-and-enhance-shareholder-value)

alemorg

In my previous comment above I said the UK is not a good example. NHS has a bunch of problems and the conservatives don’t want to increase funding. A properly funded health system should function as good as a public one. But I believe the stories you share

quarantineishere

Key phrase used by you is “truly an emergency”, in the UK it isn’t an emergency unless you are DYING. I have had friends and family who needed discs and hips replaced waiting months on a list, I have an uncle with a stomach hernia, he’s been waiting for about a year for a simple surgery where they push it back in. It’s not all bad however, anything absolutely serious and life threatening will be treated post haste, and completely free of charge (minus your NI tax which is supposed to cover the costs).

MagnumSipper77

Same 3x lev position, UK stock though so it better not dump right after.

nafnaf0

You can buy gold coins with excellent security features like the UK 99.99 fine Gold Britannia (my favorite coin)

Catch_ME

Guys, the dollar is being devalued on purpose. I believe it's to make our manufactured goods more appealing outside the states.  Large manufacturing countries like their currency being weak.  Europeans have some of the most expensive manufactured goods because their currency is strong.  There's benefits in having a strong currency like when a country focuses a lot on financial services like the UK.  If you don't want your dollar devalued, buy land or gold or something else. 

deevee7

Yeah give it a go, I got IBKR specifically so I could buy US ETFs in the UK

aussieflu999

It’s barely used in the UK, if there’s saturation it is US only.

Timbo1994

I'm a UK investor, and I invest in index-linked gilts (our equivalent). I see them as the absolute safest place to be, but only if I hold to maturity. This is because they mean I get a known amount of goods and services at a known future date - what could be safer than that? Then I don't have to worry about their price at all. Note they are slightly lower expected return than regular bonds. The amount of which is called the inflation risk premium.

Dimmo17

UK - EU trade reset UK - India

TonteduMouton

I’m from the NW UK, we have minerals under our feet, oil under our seas and food on our land but believe me, do not invest in mining here, our lefty government won’t allow any meaningful resource exploration, and if they did it would be taxed to hell

garden_speech

> Except that's just one country. No it's not, the US recently was just one *example*, but banning the peasantry from owning gold has a storied history. Even in history history Australia banned owning over 2oz gold in the 50s, 1959 IIRC. The UK required citizens to offer their gold for sale to the government in 1947 and in '66 tightened it further and only allowed "collectors" items to be kept. India instituted a ban in 68. China in 1950. The only reason people can hoard gold in those countries is that they willingly lifted their bans. > You could theoretically take your gold somewhere else and sell it You can theoretically commit as many felonies as you want, for most people who are hoarding gold, fleeing the country with a bunch of contraband gold to try to sell it is not going to go well for them and they probably can't anyways. > Your violence example doesn't really matter because that can be true of literally anything that exists in the physical world **That's literally why it matters lol. Yes this is my entire point.** Gold does not insulate you from anything except localized, controlled collapse of your own currency that still leaves you able to flee and go sell it somewhere else. > Anybody stronger than you can just take everything you own at any time. Well, no. The whole idea of modern justice systems is that the might of the state is strongest, so a "stronger man" can't simply steal shit from you since they have to answer to the strongest man -- the state. > Historically that just happens to be gold. Yes.

saintmitchy

Currently living in the UK but get paid in USD. 🥭 is fucking me

icydragon_12

Ray Dalio, former manager of the world's largest hedge fund wrote a book about this. Any country that manages five forces well can achieve reserve currency status, and then they utilizes the power to become dominant in the world, as a bunch of money flows in from foreign countries who want to own their currency. The countries use the advantage to create innovative products, become educated; if the wealth is distributed/managed well, there is internal and external order, and this becomes a virtuous cycle. Eventually, they get too comfortable, become less innovative, less educated and rely on their military might to control other countries. They spend more than they earn, they go to war when they can't afford to, and it destroys the nation. This happened to the Dutch in the 16-1700s, the UK in the 18-1900s, and you're watching it happen to the US now.

Swimming-Novel-4342

Because these mutual funds I found focusing on the industrial, financial, and healthcare markets in UK & Japan had an annual return of 33%.

HearingSad6528

Im a huge noob just learned about options, tell me the best options trading UK platform and ill put everything in this😭

UnrivalledPG

Couldht agree more as a UK investor, all gains have been offset by the dollar tanking. Thanks to orange man. Smh

wanmoar

That discussion isn’t happening on this subreddit as this is fairly US centric. Outside of it, yes, it’s a definite problem. USD depreciated 10% over the last 12 months. SP500 is up 16.5% over that same period so a UK investor is only up 6%. The FTSE100 is up 20.10% over those same 12 months. Most non-US people who have a modicum of intelligence are either hedging the currency risk now or exiting the US markets altogether