The "End of Britain" and the Devastation of Sterling.
In this report I cover the early market action from London on Thursday, August 9th, 2018. I look briefly at the precious metals, the stock market, the dollar, other major currencies, the bond market and the oil price.
Today I also talk about the state of the Britain and the currency. I look at a video published by MoneyWeek magazine back in 2013 entitled the "End of Britain" in which they explain how the U.K. had reached a point of no return as massive debts had been piled upon for many decades.
In the video it is pointed out that when interest rates start ratcheting up higher the whole British economy and financial system could implode under the weight of insurmountable debts. I point out that for the last five years since the video the UK monetary and governmental authorities have been able to manipulate interest rates lower in order to keep the game going.
My conclusion is that the UK savers and the general public are being boiled slowly to death like in the "boiling the frog fable" as sterling, the national currency, continues to be debased and the debt mountain continues to grow. The key question when and not if will the system implode and to that I point to a lose of control of the bond markets and interest rates.
End of Britain by MoneyWeek:
Good morning mario, thanks for the updates, i remember watching the money week video when it came out and found it interesting but nothing new some people did not already have a handle on at the time, it was a short time aftera debate by steve baker mp was brought to the commons on "money creation in society " if i remember correctly? attended by about a couple of dozen other mp,s he exposed how money was issued from banks quote “Whenever a bank makes a loan, it simultaneously creates a matching deposit in the borrower’s bank account, thereby creating new money.” Steve Baker MP. i shared the video on social media and got quite a few responses to it to say the least! have a good day oh and i am loving this cooler weather at long last.
Yes Steve Baker is a lone voice out there.
Awesome Dtube! The polemic about debt mountains in the UK is the hottest topic to follow. But behind the fact that collusion is neatly intertwined behind the scenes. I think your idea is very brilliant about the way out of the case for rational reasons. Thank you for sharing a lot of knowledge, sir. Regards! 🙏
Thanks @roman-sabil.
England suffering financial crisis from so many times and now its been known to the world.
What are the UK's strongest industries? I really don't understand their economy it seems there is no innovation and most people work in the public service...
The financial crisis which are suffered by almost all countries in the EU, was caused by Germany and France, who have architected a close to perfect system on how to make people spend over the top and make them willing-less colonies of these two countries. It is a huge topic and very explosive, because it is built on financial practices sustained and worked out by banks and is actually applied in the whole world, with exclusion of Russia. Which explains why Russia is the chosen one for all failures of the civilisation.