The Financial Times Stock Exchange 100 Index
Since the vote for Brexit, the UK stock market has performed well.
The UK's manufacturing sector had a good September.
Merryn Somerset Webb
Merryn Somerset Webb in the Financial Times tells us that the Cloud over the pound has a silver lining.
According to Merryn Somerset Webb, the devaluation of the pound in 1949 (from $4.03 to $2.80) led to a rise in the stock market.
Most big UK companies are currently benefiting from the fall in the pound.
The UK needs its economy to rebalance.
Greece, Italy and Portugal all need to re-balance, but it is not easy when they are stuck with the Euro and the EU.
In 1967 sterling was devalued again (from $2.80 to $2.40).
The stock market then rose 30% in 1968.
Most big UK companies are currently benefiting from the fall in the pound.
Switzerland is not in the EU, and is 'very rich'.
Before Brexit, the UK's huge current account deficit (difference between exports and imports) was about 6 per cent of GDP - near a peacetime record.
The UK needs its economy to rebalance.
The pound was over-valued - because of the constant flow of speculative capital into London.
The UK is now, to some extent, rebalancing its economy.
Greece has not been so lucky.
It is stuck with the Euro.
Greece, Italy and Portugal all need to re-balance, but it is not easy when they are stuck with the Euro and the EU.
MORE HERE: Cloud over the pound has a silver lining.
Brexit, 'populist nationalism', & the perhaps manipulated Hanjin bankruptcy shutting down global shipping & trade
ReplyDeleteMany say the UK establishment only pretended to oppose Brexit ... foreseeing that a UK independent of the euro debacle in 2017-18, will be optimum for City of London & allied UK interests
Many say the USA establishment only pretends to oppose 'isolationist' Trump ... foreseeing that a 'walled-in' fortress USA is unavoidable, given upcoming global rejection of the US dollar ... meaning that the half-trillion annual US trade deficit can no longer be 'financed' & the USA will face shortages & emergency, cutting of non-essentials (Nato?) & a need for Trump's 'The Art of the Deal' with other nations
(At the top of the most-read news web pages in the USA, with 38-million-plus daily views, the Matt Drudge report pumps for Trump, as does US agent & faker Julian Assange, the hugely popular US talk-radio celebrities etc ... all 'bravely' opposing the straw man of dying establishment media supporting Hillary)
Dr Jim Willie ('Golden Jackass') with his sources, suggests the Korean Hanjin company shipping bankruptcy of 31 August - that has thrown such havoc into world trade - is a veiled economic self-defence attack by Asia upon the West & in particular the US dollar
The official story indeed is questionable, given that Hanjin's debt was only USD 5.6 billion, a puny amount for central bank money-printing. South Korea itself could quickly supply that sum; other affected parties such as China could also easily arrange to supply the sum via a 'swap line' etc.
When a large company is failed or failing, 'normal' procedure is for 'bridge' financing to continue basic operations, which preserves maximum value for creditors. But it seems a 'political' decision was made to create chaos in global trade.
Jim Willie suggests that the real motive of the 'Hanjin bankruptcy', is to sacrifice Hanjin & shut down major portions of global trade, to underline that Asia no longer wishes to accept printed-up USA 'dollars' (or US Treasury bills etc) as payment.
By putting a spanner in the global trade works, Asia is perhaps calling out that it is beginning to force the arrival of a new payment system based on items of universal concrete value, not dodgy 'dollars' printed at will by an exploitive hegemon
Dr Jim Willie has long anticipated that after a global 're-set', global trade will be re-built via 'Gold Trade Certificates', somewhat as it was before 1914. Although today, national economies may well keep 'paper money' internally, international trade will perhaps soon become anchored in gold once again.
Through 1913 this was done globally via London ... very little gold was actually physically shifted, but the entire world was confident the gold was there whenever desired, hence the English phrase 'good as gold', long ago applied to the 90-day self-extinguishing 'gold payment' credit bills that grounded the world's commerce before World War I
That system worked so well, that it took until the 1980s for world trade to rise again to the level it had in 1913
Dr Jim Willie - Rejection of USD at Ports in Progress
I just caught up with the whole Zen Gardener 'scandal' .... and Eff'ing hell! I had completely missed all of this until just now. Not that I was ever particularly enamoured with Zen, but I did read his musings via other blogs and thought him a thoroughly decent chap. How wrong I was. My immediate chain of thoughts - given my regular digestion of Aangirfan postings - was 1) Children of God is a cult; 2) A mind control sex cult; 3) A mind control paedophile sex cult; 4) A CIA sponsored trauma-based brain washing facility? 4) Exposed and forced into shutdown; 5) Clean-up operation required 6) New assignments/postings for top agents/leaders (mind control experts) who would either have to remain 'in service' or be 'disappeared'; 7) Known CIA Alt Media penetration; 8) ZEN GARDENER! Covert new age Mockingbird asset or overt CIA disinfo agent?
ReplyDeleteHow deep does it go?
Is there anyone we can trust?
-Chris B