Thursday, December 8, 2022

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Vengeful European Union crashed Brit Pound

Vengeful European Union crashed Brit Pound

“Remainers are to blame for the run on the Brit Pound” claims hedge fund tycoon Crispin Odey.

The arch Brexiteer was quoted in the Telegraph arguing that the rout on the currency in the wake of Kwasi Kwarteng’s tax cuts was triggered by Remainers in the City who “hate” the Government.

“I never felt the kind of hate that Friday stirred up for a long time,” he said.

“Amongst lots of friends of mine who are Remainers, they just decided that they hate this Government. Obviously Kwasi they hate now as well, and they think Liz Truss is useless. They can’t stand poor Jacob Rees-Mogg.”

So was the EU, its fifth and sixth columns in the City of London, and the IMF really behind the vicious currency attack on UK PLC?

You decide…

Funny Figures & Brit Pound

Kristalina Georgieva is the Bulgarian ‘economist’ currently serving as Managing Director of the International Monetary Fund. Who delivered the rebuke to the UK Gov that sent sterling into its recent cataclysmic tailspin.

Who?

Exactly. According to her own organization – the IMF, her native country of Bulgaria was the 11th  poorest country out of 46 in Europe in 2021. Considering this, one wonders if Mrs Georgieva is actually best placed to criticize the UK’s economic policies, which in the same period made it the 14th richest. If Georgieva really knew what she was talking about, surely her time would be better spent imparting her sage advice to her own country-folk, in order to help them improve their own unenviable economic situation.

Or maybe the Bulgarians don’t want it? Perhaps they are aware that Georgieva is not, in reality, as competent with actual numbers as she likes to make out. Could it be that the Bulgarian Government is all too aware of the 2021 independent inquiry which determined that Georgieva had “instructed staff” at the World Bank, where she was in position as the Chief Executive, to “inflate data to make China look better.”

Ahem.

Regardless of the shady Bulgarian’s love of ‘funny figures’, at least she can’t be accused of ‘playing politics’ in her role at the IMF – the organization which claims to ‘work to achieve sustainable growth and prosperity for all of its 190 member countries.’ – of which the UK is, of course, one. Surely?

Well actually…no.

Additional A-holes behind Brit Pound fall

Before her role at the World Bank, Georgieva served as… wait for it… Vice-President of the European Commission under President Jean-Claude Juncker. The same Jean-Claude Juncker who was regularly torn additional A-holes by Nigel Farage as the two dueled in the European Parliament. Although not a ‘remainer’ per se, and though she would never admit it, politically Georgieva is, clearly, lock, stock, and barrel, anti a strong and independent UK.

And what was it she said in her recent public castigation of the British Chancellor Kwarteng?

 “Furthermore, the nature of the UK measures will likely increase inequality.”

Likely increase inequality? She should know about that. Her salary at the IMF is believed to be $351,758 and her net worth estimated at $3 Million.

We will probably never know who, or what caused this week’s Brit Pound crash, but one thing is crystal clear. ‘Increased inequality’ is something that Kristalina Georgieva, the EU and the IMF are genuinely experts at.

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