3 ms·
While immoral I am hardly one to speak, right after the Brexit vote when the Pound Sterling was unusually low against the US dollar (Oct 2016), I cashed everyth
by Someone1234 8y ago
While immoral I am hardly one to speak, right after the Brexit vote when the Pound Sterling was unusually low against the US dollar (Oct 2016), I cashed everything in to pay off my loans at a stark discount (15% off). Is it wrong to benefit from your home country's misfortune? Is it wrong to leave your home country to avoid repayment?
I will say that while I consider the morals of things, the wealthy and ultra-wealthy seem to have no such compunction. They will happily move money off-short to avoid tax, re-work income to pay lower capital gains tax rates, or have an official residence in a lower tax location.
Somehow I think they will clamp down on this a lot more than they do the ultra-wealthy.
- qeternity 8y agoWhy is this immoral in the least? At worst, it's lucky. At best, very shrewd. The UK held a referendum which impacted the value of the currency against another that ended up being beneficial to you. Literally nothing you did impacts any of this. In fact, by doing what you did, you helped support the pound (i.e. selling dollars to buy pounds). It's not even close to what's being described here.
- Someone1234 8y ago> Why is this immoral in the least? I'm personally financially benefiting from other's misfortune. > In fact, by doing what you did, you helped support the pound (i.e. selling dollars to buy pounds). Good point, I hadn't considered.
- gruez 8y ago>I'm personally financially benefiting from other's misfortune. and why's that bad? honest question. you're not the cause of the misfortune. I see it as no different than a roulette game where you bet on red, someone else bets on black, and you end up winning.
- rabboRubble 8y agoThat's pure arbitrage. Legal and encouraged. Good for you.