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Bootsox

Euro Folly

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Wetherspoon's Tim Martin calls it straight.

Edit: bugger was trying to add a PDF but can't get the file size down enough, will try later.

Edited by Bootsox

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Wetherspoon's Tim Martin calls it straight.

Edit: bugger was trying to add a PDF but can't get the file size down enough, will try later.

Is it this story?

Wetherspoon, breakfast and The Folly of the Euro

Being against the euro does not make you 'anti-European'. In my case, it just means that separate countries cannot, as an economic matter, join their currencies together, without joining their governments together, with the central government having full tax-raising powers to transfer tax-payers' money from Germany and France, for example, to help Italy and Portugal. No currency in history has survived without a central government to support it. Tim Martin, Chairman Wetherspoon. From the opening article in Wetherspoon News July/August 2011

Tim Martin reminds us that in the 1990s Wetherspoon News campaigned against the euro on economic rather than political grounds. He was spokesman for the 'no' campaign and debated the issue in front of European business people with, then MEP Chris Huhne. That part of the article is well worth reading.

He goes on to make the point: The surprising aspect of the euro, as I've argued before, is that it was an invention of what the French call 'les énarques': intellectuals from our great universities, who presumably felt that they could invent a new type of economic system, in defiance of history. In this respect, the euro's intellectual and Utopian appeal recalls the almost religious allure of the work of Marx and Engels, a century and a half ago.

and then reminds us of the folly of some of 'the great'.

Nigel Lawson, as Chancellor of the Exchequer, disastrously 'shadowed the Deutschmark' and advocated entry to the ERM. His predecessor, Geoffrey Howe, was a similar advocate of the single currency, forcing the then prime minister's resignation, following his speech on this issue. Michael Heseltine, Roy Hattersley and Tony Blair were in the same boat, with many others.

Outside the world of politics, Adair Turner, now Lord Turner and the chairman of the FSA, which oversees the banks, was a fanatical advocate of Britain's euro entry. Richard Lambert, then editor of the Financial Times, was fervently pro-euro, censoring anti-euro comments in the Financial Times. Until very recently, he was Director General of the CBI, the most important big business representatives for governments.

Yet even today, it seems that many influential economists and MPs do not accept that the euro is a busted flush. Two of the most widely read economists in Britain, no doubt 'énarques' themselves. David Smith of The Sunday Times and Martin Wolf of the Financial Times, have written long and lurid articles as to why the euro will survive.

It's a strange paradox that those who are supposed to understand money best, economists, intellectuals and former chancellors of the exchequer, appear to understand it least. The man on the Clapham omnibus, as lawyers say, seem to understand the folly of the euro much more easily.

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Is it this story?

LINK

There is a big difference between understanding it and agreeing to it, and understanding to it and going along with it because your bread is buttered on that side despite it being wrong.

Are we all to really believe that in the halls of Westminster our politicians were not aware that the EU was a creeping soviet styled organisation that behind the viel of free trade had a plot to become our political masters ?

Is it a suprise that the EU parliament is made up of failed politicians, corrupt politicians, and anyone else the could muster who were prepared to commit an act of treason and mutiny against their nation ?

For me the British political system is a setup of good cop, bad cop. Its the same old drivel year in year out and finally I have worked out that our leaders do not steer our course. Our course is steered by global leaders of whom we know nothing about.

Just take a look at Obama running around the world trying to muster support to Nuke Iran. It would be a comedy joke if it wasnt the case it was real. And do we think Obama really wants to nuke Iran ?

Of course he doesnt but his masters have told him if he doesnt do the deed and get international backing he is out at the next election. Do the US public want another war fought on behalf of a dodgy rogue nation that commits war crimes on a daily basis and continues to argue the right to exist.................in someone elses land.

Edited by laurejon

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  • 285 Brexit, House prices and Summer 2020

    1. 1. Including the effects Brexit, where do you think average UK house prices will be relative to now in June 2020?


      • down 5% +
      • down 2.5%
      • Even
      • up 2.5%
      • up 5%



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