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Leaving the EU

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I think that it was ignorance not courage, and it may well be that the situation goes out of the governments hands as it did in the Suez Crisis when the pound went through the floor. We do not know yet how much it has cost the Bank of England to support the pound to 1.32 against the dollar, but the figures are likely to be sickening.

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No more than it has cost us many times in the past would be my guess - but at least it makes our exports more attractive as they will be cheaper - another negotiating tool perhaps?

I think you disparage your fellow countrymen with your comment of ignorance which is very sad. Personally I don't think I am ignorant and I think I am fairly representative of Leave voters.

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The latest news is that Angela Merkel has called the "negotiating bluff", by ruling out pre article 50 negotiations.

When we eventually do get a new Prime Minister no one will be prepared to commit "political hara-kiri" and press the trigger, so Parliament will eventually be forced to cancel the referendum and it will all be for nothing.

Meanwhile our economy is in ruins.

Do not try to exchange currency tomorrow if you are not up to taking big shocks, because it will be less than today.

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I just do not get it:

If we join the EEA, which is what Norway is in, then we have to accept free movement of people and pay £96 per person to be part of the single market but get no say. We have come out of the EU where we paid £96 per person to be in the EU and have a say - can anyone tell me the logic?

Boris is happy with the EEA knowing there is a cost so why did they say the NHS would get the £350m per week when they must have known it was impossible?

So far it has cost the drop in the £ and drop in banking share etc.

All Cameron does is resign so washing his hands of it all - so much for leading our country as all he has really done is throw his bat and ball away. Corbyn, as always, just keeps his head in a dark place and says nothing!

I think this is what a real mess is!

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Your figures are wrong the Treasury has it at £128 per capita.

That's a difference of £32 per capita...multiply that by 64 million and you get a saving of a not inconsiderable 2.5 billion.

Not a bad start.

And the true indicator the Footsie 250 has already recovered to pre Brexit levels.

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And the Bank of England support for the pound in the past few days could have paid for many years of Europe contributions.

Has been as high as £8,000 per second.

 

Hi there

Where has that figure come from as I can find no reference of it?

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Your figures are wrong the Treasury has it at £128 per capita.

That's a difference of £32 per capita...multiply that by 64 million and you get a saving of a not inconsiderable 2.5 billion.

Not a bad start.

And the true indicator the Footsie 250 has already recovered to pre Brexit levels.

Interesting that Out people did not wish to believe Treasury stats during the campaign. The BBC did an article giving the £96 per capita figure for both countries and I think, in this instance, I would prefer to believe that.

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Interesting that Out people did not wish to believe Treasury stats during the campaign. The BBC did an article giving the £96 per capita figure for both countries and I think, in this instance, I would prefer to believe that.

 

 

So basically you're taking the word of the Beeb over the Treasury?

Interesting.

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Oh right..so no data to back it up just scaremongering again.

If it were true it would be all over the papers..

Seriously, so you are unaware that the Bank of England has allocated £250 billion, as a first tranche sum for defence of the pound.

What do you think that allocated means?

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Allocated yes...used no...it hasn't been necessary as the markets recovered quicker than all the so called "experts" predicted.

From today's Independent.

"This substantial capital and huge liquidity gives banks the flexibility they need to continue to lend to UK businesses and households, even during challenging times.

Moreover, as a backstop, and to support the functioning of markets, the Bank of England stands ready to provide more than £250bn of additional funds through its normal facilities.

The Bank of England is also able to provide substantial liquidity in foreign currency, if required.

We expect institutions to draw on this funding if and when appropriate, just as we expect them to draw on their own resources as needed in order to provide credit, to support markets and to supply other financial services to the real economy.

In the coming weeks, the Bank will assess economic conditions and will consider any additional policy responses."

Notice the words "stands ready"....

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Less of the doom and gloom we are a great nation who have been through tougher times than this and come out smiling and we will do so again. We have not left Europe we are just going to decide our own fates and taking a different path and what seems scary might be the best path ever but we will only know by walking it.

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Less of the doom and gloom we are a great nation who have been through tougher times than this and come out smiling and we will do so again. We have not left Europe we are just going to decide our own fates and taking a different path and what seems scary might be the best path ever but we will only know by walking it.

 

Don't think that's how those in Europe see it. Got a lot of friends in Austria/Germany and speaking to them recently all their press are reporting that the UK are a "racist" and that's why we have voted to leave and the infamous picture of Farage in front of that queue of Syrians trying to get into Europe apparently is in every paper.

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Allocated yes...used no...it hasn't been necessary as the markets recovered quicker than all the so called "experts" predicted.

From today's Independent.

"This substantial capital and huge liquidity gives banks the flexibility they need to continue to lend to UK businesses and households, even during challenging times.

Moreover, as a backstop, and to support the functioning of markets, the Bank of England stands ready to provide more than £250bn of additional funds through its normal facilities.

The Bank of England is also able to provide substantial liquidity in foreign currency, if required.

We expect institutions to draw on this funding if and when appropriate, just as we expect them to draw on their own resources as needed in order to provide credit, to support markets and to supply other financial services to the real economy.

In the coming weeks, the Bank will assess economic conditions and will consider any additional policy responses."

Notice the words "stands ready"....

OK, lets go through this step by step.

"We are where we are", and for the politicians, and hopefully the press it is essential that we extract the most that we can from this disaster.

The figure I gave you for the cost to the Exchequer was at a particular time that I asked the question a few days ago, and subsequent questions indicate that the cost per second has far exceeded that figure at other times.

However, the real question is what have we have spent in relation to what will we get.

Lets take the latter part first.

The EU knows that we are now busted and regards economic negotiations we are defenceless. However, there is more to it than that because France will be extremely unhappy at the prospect of being dominated by Germany in the event of a Brexit. Then the Baltic States, Poland. Czech Republic, and particularly Finland will be extremely unhappy at a weakening of the EU with Russian nationalism on the increase. So in a word we have cards in our favour, though we are not necessarily holding them.

Now moving on to what we have spent and the damage done, in my opinion we will find out next year when the most horrendous public spending cuts in our history will be announced.

However, in the meantime I invite you to give an analysis and your opinion on the national debt and inevitable cuts, if any, after which you can be assured that I will comment as "devils advocate".

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Don't think that's how those in Europe see it. Got a lot of friends in Austria/Germany and speaking to them recently all their press are reporting that the UK are a "racist" and that's why we have voted to leave and the infamous picture of Farage in front of that queue of Syrians trying to get into Europe apparently is in every paper.

I think Europe thought we would stay in the EU and yes it has hit them hard that the vote did not go that way. There are racist's in every country in the whole world ours is no different but if we are such a racist country and so very intolerant of anyone not British then why are we such a nation of givers? We as a small country are the first to set up charity events such as Red nose and Comic relief and year on year we give huge amounts of money to help others from all walks of life and other countries, I don't think anyone can say the UK is racist.

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OK, lets go through this step by step.

"We are where we are", and for the politicians, and hopefully the press it is essential that we extract the most that we can from this disaster.

The figure I gave you for the cost to the Exchequer was at a particular time that I asked the question a few days ago, and subsequent questions indicate that the cost per second has far exceeded that figure at other times.

However, the real question is what have we have spent in relation to what will we get.

Lets take the latter part first.

The EU knows that we are now busted and regards economic negotiations we are defenceless. However, there is more to it than that because France will be extremely unhappy at the prospect of being dominated by Germany in the event of a Brexit. Then the Baltic States, Poland. Czech Republic, and particularly Finland will be extremely unhappy at a weakening of the EU with Russian nationalism on the increase. So in a word we have cards in our favour, though we are not necessarily holding them.

Now moving on to what we have spent and the damage done, in my opinion we will find out next year when the most horrendous public spending cuts in our history will be announced.

However, in the meantime I invite you to give an analysis and your opinion on the national debt and inevitable cuts, if any, after which you can be assured that I will comment as "devils advocate".

I'm sorry but you're basically scaremongering with no basis in fact.

You've painted a picture of the future that not even Mystic Meg could predict.

Project Fear has you in its grip.

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I'm sorry but you're basically scaremongering with no basis in fact.

You've painted a picture of the future that not even Mystic Meg could predict.

Project Fear has you in its grip.

Terminator, you really do not want to be the last person using the word "scaremongering", it's sort of the "last penny to drop".

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Terminator, you really do not want to be the last person using the word "scaremongering", it's sort of the "last penny to drop".

 

So what do you base your future forecasts of doom and gloom on as all the indicators are that we won't be as bad off as the "experts" have been forecasting?

Footsie 250 back to pre-brexit levels

Pound Euro back to pre brexit levels 

And now some of the big business men are saying they don't think it will affect them as much as they feared.

 

I spoke to a senior official at BaeSystems who told me their order books are full so no change for them.

Now the banks are changing their attitudes..

 

http://www.dailymail.co.uk/news/article-3669029/Two-Britain-s-biggest-banks-say-stay-UK-following-Brexit-Bosses-HSBC-Barclays-confirm-no-plans-leave.html

 

So please tell me how you have come to the conclusion that Britain is Bust?

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So what do you base your future forecasts of doom and gloom on as all the indicators are that we won't be as bad off as the "experts" have been forecasting?

Footsie 250 back to pre-brexit levels

Pound Euro back to pre brexit levels 

And now some of the big business men are saying they don't think it will affect them as much as they feared.

 

I spoke to a senior official at BaeSystems who told me their order books are full so no change for them.

Now the banks are changing their attitudes..

 

http://www.dailymail.co.uk/news/article-3669029/Two-Britain-s-biggest-banks-say-stay-UK-following-Brexit-Bosses-HSBC-Barclays-confirm-no-plans-leave.html

 

So please tell me how you have come to the conclusion that Britain is Bust?

If you imagine the UK position prior to last week as someone who has a huge mortgage debt on their house that they cannot really afford, even though they are paying a vey low interest rate. Then they go into work one morning and find that they have had their working week reduced to four days. Then they get home and find a letter from the building society telling them that the interest rate on the mortgage has gone up. That's the hole that the UK is in.

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