Re: OT: Brexit

In case you thought it was just a conspiracy theory...

I posted a couple of months ago about Brexit being backed by hedge funds
that stand to make huge gains if the UK economy crashes after a no-deal
Brexit.

Today, Philip Hammond, who was Chancellor of the Exchequer under Theresa
May, wrote in the Times that:

“Johnson is backed by speculators who have bet billions on a hard Brexit –
and there is only one option that works for them: a crash-out no-deal that
sends the currency tumbling and inflation soaring.”

His contention has been supported by a series of MPs from across the
Commons, and John McDonnell, the shadow chancellor, has written an official
letter to the cabinet secretary, Sir Mark Sedwill, asking him to
investigate whether there is a conflict of interest in Johnson's acceptance
of support from hedge funds.

The chances of Johnson being kicked out next week, and a unity government
formed under Corbyn, leading to an Article 50 extension request and a
general election in November, have just risen dramatically.

Calls for inquiry into claims Johnson backers benefit from no-deal Brexit
https://nam04.safelinks.protection.outlook.com/?url=https%3A%2F%2Fwww.theguardian.com%2Fpolitics%2F2019%2Fsep%2F28%2Fboris-johnson-backers-benefit-from-no-deal-brexit-inquiry&data=02%7C01%7CCLASSICS-L%40lsv.uky.edu%7C858876ac3fa04882a02308d744448d45%7C2b30530b69b64457b818481cb53d42ae%7C0%7C0%7C637052933540353449&sdata=sMupXb3UxGkKcCnBx5WtJS%2F8%2B%2BYrAfAc1OOAXywHxec%3D&reserved=0

Mark D

On Thu, 1 Aug 2019 at 16:34, Mark Davidson <[email protected]> wrote:

> The real worry of wealthy hedge-fund managers like Rees-Mogg is that the
> EU will close down the tax havens where they keep their money, and force
> them to pay taxes like everyone else.
>
> I don't know whether Rees-Mogg's hedge-fund is shorting Brexit-related
> stocks, but many others are. Some people stand to gain a lot of money if a
> no-deal Brexit results in the British economy crashing, and likewise to
> lose money if it doesn't.
>
> It's notable that Rees-Mogg's father wrote a book called _Blood in the
> Streets: Investment Profits in a World Gone Mad_. And another, _The
> Sovereign Individual_ about disaster capitalism. It opens with the quote
> "The future is disorder".
>
> Dominic Cummings, whom David Cameron described as a 'career psychopath',
> is now chief advisor to Boris Johnson. He is another great believer in
> 'creative chaos' to benefit the elite. He was behind the propaganda machine
> that won the Brexit referendum, with significant funding from shady
> billionaires.
>
> On the other hand, both the Confederation of British Industry and the
> Trades Union Congress, in a rare show of agreement, have jointly and
> repeatedly told the government that a no-deal Brexit will be a disaster for
> Britain. British farmers have a justified fear that they will lose their
> livelihoods.
>
> The general consensus among experts on world trade and trade agreements,
> and among economists, is that a no-deal Brexit will cause serious and
> lasting problems for Britain. The Irish, on both sides of the border, have
> even more concerns.
>
> The pound has been steadily falling against the dollar since Johnson
> became Prime Minister. The Bank of England is predicting zero growth in the
> second quarter of this year, and has warned that even continuing
> uncertainty about Brexit may lead to a recession.
>
> The facts do not support Brexit.
>
> Mark D
>