COMMENT FROM UK: On the subject of Phillip Hammond and Brexit, this is just the latest in a long list of pro-elite politicians who are looking to protect their career interests by aligning with the globalist system.

Blair made hundreds of millions, Brown and Darling bailed out the banks and then went to work in the financial sector and failure that is Nick Clegg is now an exec at Facebook. Theresa May will no doubt have her payday coming. These politicians are selling out their country but seem to think they have morality on their side.

K

REPLY: All of these politicians who are for the REMAIN side, which included Theresa May, all have a self-interest which is counter-trend to their own country. They like the establishment of the political class to be left alone.

This is a chart that speaks 1,000 times that Britain has NEVER received a fair deal since joining the EU. This is data from your own government which I have not altered. The peak in GDP took place in 1973 just before Britain joined the EU. There was a major faction that believed joining the EU would create a global economy that would surpass the USA. That never happened because each member state can veto what any other state tries to do. There are 50 states in the USA. They have no say if Washington wishes to do a trade deal. If every state had a seat at the negotiation table as they do in the Eurozone, nothing would ever get done.

All I can say is the EU is a dictatorship for nobody at the Commission level ever stands for an election. As such, this is a politician’s greatest wish – power without accountability. And then they have the audacity to criticize China or Russia for a lack of Democracy?

The recent polls in Britain show that the people are MORE AFRAID of Labour and Jeremy Bernard Corbyn than they are about BREXIT!

The report that paints the darkest possible scenario for Britain without ever mentioning that 60% of its trade is outside the EU and that any attempt by the EU to punish Britain will destroy the German economy which is preparing for a very deep recession since Britain is its #1 trading partner in the EU particularly for autos.

This Yellow Hammer report leak is clearly a scaremongering edition and not serious research. It is just a propaganda piece for that purpose. It claims that transport disruption will be 50%-85% of lorries travelling across the Channel may not be ready for French customs. The EU is likely to harass Brits with immigration checks at border posts. Medicine supply chain may be disrupted for up to six months across the Channel. The supply of certain types of fresh food will decrease.

The EU will slap tariffs on British fuel imports so they forecast financial losses and the closure of two refineries resulting in about 2,000 direct job losses. And as far as Northern Ireland is concerned, the UK would impose the “no new checks with limited exceptions” but they report claim this will be unsustainable.

There is no mention that trade negotiations with the rest of the world cannot take place inside the EU because any member can veto a UK trade deal with anyone.

The British pound is still under pressure as the propaganda machine is in full force. A further decline in the pound into October will far outweigh any tariffs the EU could possibly impose. Everyone looks at the dire future for Europe while they fail to look at the EU. Germany is imploding economically. The German economic philosophy has always been the old-school Mercantilist view to sell more stuff to everybody else than you buy.

While Germany is all about austerity, it has over-taxed its people and has declined to create a domestic consumer market preferring the export model which has resulted in the German people having almost the lowest net worth in Europe. While the economy is #1 inside the EU, the wealth does not pass to the people. A no-deal BREXIT will hurt the EU far more than it will hurt Britain and that is the absolute TRUTH!!!!!!!!

QUESTION: What is the difference between asset inflation and hyperinflation? I believe you are saying that from Jan 2020 we will see inflation which I understand to be asset inflation?
Thanks
FL

ANSWER: Asset inflation is typically a reflection of a decline in the value of the currency, but this can be 50% over the course of one to two years. Hyperinflation typically occurs when confidence in the government itself completely collapses. This is usually in a peripheral economy or often in times of war or major domestic revolution, as was the case with the Continental Currency in the United States and the Assignats of the Revolutionary government in France. Asset inflation can be also caused by an investment boom concentrated within a single sector such as the Dot.com Bubble. The typical definition of hyperinflation is when prices rise by more than 50% per month over a period of time.

Then there is DEMAND inflation, which is typically one of two aspects. It can come in the form of a hot item like Pet Rocks, Cabbage Patch Dolls, etc. The second aspect is a shortage of something such as wheat or corn and the demand forces the price to rise.

QUESTION: What makes currencies rise & fall in value?

CC

ANSWER: Many people want to reduce this to a logical explanation. It reminds me of when I testified before Congress at the House Ways & Means Committee. They had to put me on a panel with academics. I told them to make me last. The Committee was asking about changes in taxes and the impact upon currency. The academics said there should be no impact. When they came to me, I dealt with the truth.

Currencies will rise and fall BECAUSE, first and foremost, this is the way international capital gets to vote on the CONFIDENCE in that political government. You see this in the spreads within the Eurozone such as buying Germany selling Italy or Greece for an example. The dollar has been rising of late BECAUSE the confidence in Europe has been collapsing. This becomes self-evident just plotting the Dow Jones Industrials in dollars v euro. If capital perceives a problem, it will flee from that region to another. The dollar rose during World War I and II, but it declined with the Korean War because the former was a reservoir of capital and the latter was not