Brexit…..What’s nextit?
After wading through the various commentaries on the Brexit vote we came upon this piece by David Stockman writing for the Daily Reckoning which we now offer up for your perusal. As our readers will note, his essay is completely congruent with the views that we have expressed on these pages and in our media appearances over the past number of years regarding the actions taken by Central Banks and the un-elected nabobs in Brussels following the Global Financial Crisis:
“At long last, the tyranny of the global financial elite has been slammed good and hard. You can count on them to attempt another central bank based shock and awe campaign to halt and reverse the current sell-off. But it won’t be credible, sustainable or maybe even possible.(this has already happened, now we wait) The central banks and their compatriots at the European Commission, IMF, White House/Treasury, OECD, G-7 and the rest of the Bubble Finance apparatus have well and truly overplayed their hand. They have created a tissue of financial lies; an affront to the laws of markets, sound money and capitalist prosperity. So there will be payback, clawback and traumatic deflation of the bubbles. Plenty of it, as far as the eye can see. On the immediate matter of Brexit, the British people have rejected the arrogant rule of the EU superstate and the tyranny of its unelected courts, commissions and bureaucratic overlords.”
Hear, Hear! we say.
Apart from what Mr Stockman wrote, what we find particularly ominous is the denial of reality, expressed by media and political elites in their immediate reaction to the voting result, not only in Europe but also here and in the US and elsewhere. Most of this comes about as a result of complete ignorance, whether intentional or not of what EU membership has meant to the average person on the high street in the UK and a total failure to properly understand and objectively assess the sequence of events that have led us to this point.
Anyone who thinks the EU has been good for Britain, its people or British industry simply hasn’t paid attention to what has been systematically ripped off from the UK and the consequential loss of opportunity for its young people, among other things, that Britain is having to endure. For example, the following list is courtesy of one of our occasional contributors (NB This is only a partial account of what has happened in the last five or so years.).
According to the information we received:
1. Cadbury moved its UK factory to Poland in 2011 financed with an EU grant.
2. Ford Transit moved to Turkey 2013 with an EU grant.
3. In 2015 Jaguar Land Rover (JLR) agreed to build a new plant in Slovakia with an EU grant. JLR is owned by Tata, the same company which in the last 8 years has reportedly bankrupted Britain’s steel works and emptied the workers’ pension funds.
4. Peugeot closed its Ryton (was Rootes Group) plant and moved production to Slovakia with EU grant.
5. Recently it was announced that the British Army’s new Ajax fighting vehicles are to be built in Spain using Swedish steel at the request of the EU to support jobs in Spain. The original plan was to build the vehicles in Wales with an EU grant.
6. Dyson gone to Malaysia, on the back of an EU loan.
7. Crown Closures, Bournemouth (Was METAL BOX), gone to Poland with EU grant, once employed 1,200.
8. Marks and Spencer manufacturing has relocated to the Far East courtesy of an EU loan
9. Hornby models gone. In fact, all toys and models are now gone from UK along with the patents all financed with EU grants
10. Gillette gone to Eastern Europe courtesy of an EU grant.
11. Texas Instruments Greenock vacates to Germany with EU grant.
12. Indesit at Bodelwyddan Wales gone with EU grant.
13. Sekisui Alveo said production at its Merthyr Tydfil Industrial Park foam plant will relocate production to Roermond in the Netherlands, with EU funding.
14. Hoover Merthyr factory moved out of UK to Czech Republic and the Far East by Italian company Candy with EU backing.
15. ICI integration into Holland as AkzoNobel with an EU bank loan. Within days of the merger, several factories in the UK, were closed, eliminating 3,500 jobs.
16. Boots sold to Italians Stefano Pessina who have based their HQ in Switzerland to avoid tax to the tune of £80 million a year, using an EU loan for the purchase.
17. JDS Uniphase, now run by two Dutch men, bought up companies in the UK with £20 million in EU ‘regeneration’ grants, created a pollution nightmare and just recently closed it all down leaving 1,200 out of work and an environmental clean-up that needed to be paid for by the UK tax-payer. They also reportedly drained the pension fund dry.
18. UK airports are owned by a Spanish company.
19. Scottish Power is owned by a Spanish company.
20. Most London buses are run by Spanish and German companies.
21. The Hinkley Point C nuclear power station to be built by French company EDF, part owned by the French government, using cheap Chinese steel (that reportedly has catastrophically failed in other nuclear installations.) Now EDF say the costs will be double or more and delivery of the facility will be very late if it ever does come online.
22. Swindon was once Britain’s leading producer of rail locomotives and rolling stock. Not any more. Now it’s Bombardier in Derby; and due to their losses in the aviation market, that could see the end of the British railways manufacturing altogether even though Bombardier had EU grants to keep Derby going (which they diverted to their loss-making aviation side in Canada, thus hobbling the UK operations.)
23. 39% of British invention patents have been passed to foreign companies, many of them in the EU
24. The Mini cars that Cameron recently trumpeted as an example of British engineering, are built by BMW mostly in Holland and Austria. His campaign bus was made in Germany even though British domestic bus manufacturers include Plaxton, Optare, Bluebird, Dennis and others.
25. There are no major technology companies still running and profitable in the UK.
Please note that there are no cases of any events like this occurring to the benefit of the UK or UK businesses over the same time period.
The British for their part are also not ignorant of the social costs of EU membership, including the forced impoverishment (austerity) of their neighbors in the EU since the onset of the Debt Crisis.
They are also acutely aware of the many costs of the forced immigration that has been mandated by the EU – including the displacement of senior citizens and UK veterans from council housing accommodations as well as the deleterious impact of middle-aged rape gangs that were grooming young English Girls (and a smaller number of Boys) in the Rotherham suburb – for almost 20 years – while this atrocity was being covered up by a compliant and toothless Home Office fearful of being labeled “racist”
The ultimate conclusion to all of this, including the fallout over vote result itself has still to play out. Based on the Squabbling and Squawking we have seen so far, and the knee-jerk continual re-playing of the “Fear” card by the Brussels elites, this final outcome and the path to that result, promises to be a very messy and uncertain affair indeed.
Watch this space……
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