DO YOU REMEMBER ERM?
MOST OF MY READERS UNLESS OVER TWENTY IN 1987 DO NOT. IT WAS A EUROPEAN CONCOCTION OF CURRENCIES IN A BASKET CALLED EUROPEAN EXCHANGE MECHANISM. THE UK POUND WAS FORCED OUT OF IT, BOE RAISED INTEREST RATES TO UNPRECEDENTED LEVELS, SOME 15%, AND SOROS MADE BILLIONS STANDING UP AGAINST THE COLLAPSING POUND.
THIS IS 2022 AND THE TORIES HAVE CREATED THE SAME SITUATION FOR UK. FIRST IT WAS COVID LOCK UPS, THEN IT WAS WAR IN UKRAINE, NOW IT IS FUEL PRICES AND RAMPANT INFLATION CRIPPLING NOT ONLY THE POPULATION OF UK BUT ALSO THE WHOLE WORLD’S ECONOMY TO A LEVEL I HAVE NOT WITNESSED BEFORE. YES, I AM 75 YEARS OLD AND EVEN TO ME THESE EVENTS SEEM NEW BUT…
INEXPERIENCED AND NAIVE???
REMEMBER BLACK MONDAY OF OCTOBER 1987. THE STOCK MARKETS COLLAPSED, NOTHING MOVED FOR OVER A YEAR OR TWO AND THEN THE RECESSION OF THE 1990S TOOK ROOTS IN THE UK. THIS IS A CARBON COPY OF WHAT HAPPENED THEN AND IT EVEN PROMISES TO BE FAR WORSE. HOLD TIGHT PEOPLE BECAUSE THE SHIP IS IN RAGING OPEN OCEANS AND THE CAPTAIN AND HER CREW ARE TO BE HONEST NAIVE!!!
POUND HAMMERED
THE POUND IS UNDER ATTACK FROM SPECULATORS. I WILL NOT BE SUPRISED TO SEE A COUPLE OF POINTS INTEREST RATES HIKE IF NOT MORE. THE GOVERNMENT, THE CHANCELOR/FINANCE MINISTER HAVE OPENED A CAN OF WORMS BY DECIDING DONATION OF MONEY TO ALL NEEDY, BY TREATING US ALL WITH SWEETS BUT FORGETTING THAT THERE IS NO FACTORY PRODUCING THOSE SWEETS ANY MORE BECAUSE THE FICTITIOUS PANDEMIC HAS EATEN ALL THE SWEETS OF THE BANK OF ENGLAND AND NOW THE POUND, BOE WEAPON, TO HELP US ALL IS IN THE HAND OF SPECULATIORS WHO DEMAND THEIR POUND OF FLESH OR ……
TRUSTING THE ECONOMISTS IS LIKE PUTTING THE NOOSE ROUND YOUR NECK!
EVERY FEW YEARS WE HAVE A SERIOUS ECONOMIC EVENT THAT SHAKES THE WORLD’S FINANCES UNTIL ONE DAY WE WILL END UP WITH A NEW 1929 CRASH. THUS THE CREATED 2008 FINANCIAL MELT DOWN IS STILL AFFECTING MOST OF US. NOW THE AFTERMATH OF THAT EVENT AND THE LOCKDOWN OF THE WORLD FOR TWO YEARS BECAUSE OF COVID ARE THREATENING TO CREATE A FAR WORSE SITUATION WITH WAR, INFLATION AND ARTIFICIAL ENERGY SHORTAGES ASSISTING TO THE DISASTER WE ALL WITNESS RIGHT NOW.
WHY IS THIS ALL HAPPENING, YOU MUST WONDER.
WHY ARE FUEL PRICES SO HIGH SINCE RESOURCES EXIST ELSEWHERE AND NOT ONLY IN RUSSIA?
WHY IS THE WAR OF ATTRITION IN UKRAINE THAT NOT ONLY DESTROYS A COUNTRY BUT THE WHOLE OF EUROPE, IF NOT THE WORLD?
WHY AFTER THE CALAMITY OF COVID=VAX WE HAVE A MUCH BIGGER CALAMITY WITH A MEGATON COMBINATION BOMB OF CURRENCIES COLLAPSING, INFLATION SKYROCKETING, FUEL PRICES IMPOSSIBLE TO AFFORD AND THEN FAMINE AND DEATHS IN THE MILLIONS?
WHO IN THE END IS MAKING ALL THIS MONEY THAT US POOR PEOPLE AND OF COURSE OUR GOVERNMENTS WHICH SUPPOSEDLY REPRESENT US PEOPLE MUST PAY …….
YOU WONDER WHO OUR ELECTED AND UNELECTED ELITE POLITICIANS REALLY SUPPORT AND TRY TO HELP?
US THE PEOPLE OR THE SHARKS OF THE MULTINATIONALS????
PETER CONSTANT
