The more I see, the more I am convinced this is an '
attack' on the £ and being driven by politics rather than economics I It is the so called currency markets that have caused the drop in the pound by their reaction to the vote. How come the currency speculators have attacked the £ but not the bond and share markets? The currency traders have only one function ...... to make money. I believe the UK is effectively in covert war with the EU Commission, the ECB and the IMF. Because Brexit could be a big threat to the banking and financial system.
The UK for the first time since 2002 shows a balance of trade surplus ...... and the £ immediately drops sharply ..... where is the logic in that sort of reaction. The UK has one of the lowest unemployment rates in Europe, has its own sovereign currency, a reasonably healthy economy (
not booming but steady) ......... compared with many Eurozone countries it is healthy. The UK government debt, like that of Japan, is held mostly in sovereign currency, whereas countries like Greece, Cyprus, Spain, Italy etc., those in the Eurozone, all have their debts in Euro’s, effectively a foreign currency. The only country that seems to do well out of all this is Germany.
Four European banks have failed over the past eight months alone, one Spanish and three Italian, giving strong indications that another 2007 corrective brink may be at hand. In addition in every case the EU/ECB fails to apply their own rules because they now realise a bail-in will bring down the EU:
Yet said board, taking the lead from the ECB,
“decided that resolution of the banks under the new EU rules (bail-in) was ‘not warranted in the public interest’”. There were
political reasons for handling the twin banks’ bailouts with such haste but also presumably reasons involving the need for
averting systemic fiscal risks spiking. The former reasons tend to be emphasized in the mainstream corporate press; the latter, not so much.
https://www.newsbud.com/2017/07/19/european-bank-failures-when-do-they-go-globally-systemic-and-who-decides/
Even German and Austrian banks have taken hits …… all apparently sort of ‘
bailed-out but not bailed out’ …………. the whole system is so corrupted and bent it beggars belief.
No UK banks have collapsed but all the EU’s banking problems, and there are many, have no adverse effect on the Euro? That takes a lot of believing!
I still maintain that looking at the overall picture since the refendum ..... there is no economic justification for the fall in the value of the pound against both the Euro and the USD. It does not make economic sense. IMO: This points the finger only at speculators as the reason, who are under covert direction from the EU/ECB. IMO I also believe the £ will recover but more by a collapse of the Euro/USD. But if any one wants to believe that ‘
....it is all down to Brexit’..... I would suggest you are failing to look at the whole picture ..... and it’s a very big picture!
If you have 2hrs 10 mins to spare have a look at
‘97% Owned’ on Youtube. - maybe long but you will learn something about the system that rules your lives.
https://www.youtube.com/watch?v=XcGh1Dex4Yo – In particular
from 1:25:00 which deals with currency and currency speculation.
Also:
http://www.telegraph.co.uk/news/2017/01/26/euro-could-collapse-next-18-months-warns-man-tipped-trumps-eu/
