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fatshaft

So the UK is finished says Theresa Mayhem

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Posted (edited)
8 minutes ago, P.K. said:

I'm no footie fan but even I know that putting on that unwatchable Mrs Browns bollox is just going to make everyone miserable because they wish they could go down the pub....

They pay that tosser and his mob a fortune in licence payers' money in return for the total shite he churns out. And I think they then channel it through some seedy tax haven.

ETA: Yes. This was it: https://www.theguardian.com/news/2017/nov/06/mrs-browns-boys-stars-used-web-of-offshore-companies-to-avoid-tax

Edited by woolley
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7 hours ago, P.K. said:

Can we get the planes to land in North Norfolk?

Can these Europeans even leave their countries?

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Don’t fret. Sir Nige and Tim Martin have formed a new political limited company to protect the supply of fresh food - it’s called UPIK.

It only costs £50 to join. Pay an extra £50 and you get to march the length of England demanding lower wages and a ban on imported spuds. Get a free UPIK poster today in your Daily Express, Telegraph, Stormfront, Daily Mail or S*n. 

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5 minutes ago, manxman1980 said:

Interesting headline from the Mail...

https://www.dailymail.co.uk/news/article-8227101/Plane-carrying-150-fruit-veg-pickers-Romania-lands-Stansted.html

Romania's landing in Britain to join the "land army"...  Could you have imagined such a scenario even as recently as the 31st December 2019?

Yes.

If you live in a part of the UK where crops are grown and you've seen just how hard the eastern Europeans work then you'll understand that they are the only hope. Round here the crops have been harvested already by a cracking team of ~ 20 Bulgarians who come every year.

Your normal Brit / Manxy would be dead before lunchtime on the first day. I wouldn't survive either.

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16 minutes ago, GD4ELI said:

Yes.

If you live in a part of the UK where crops are grown and you've seen just how hard the eastern Europeans work then you'll understand that they are the only hope. Round here the crops have been harvested already by a cracking team of ~ 20 Bulgarians who come every year.

Your normal Brit / Manxy would be dead before lunchtime on the first day. I wouldn't survive either.

Hope the BG team get home OK. Bulgaria has just banned all flights between UK and BG.

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26 minutes ago, John Wright said:

Hope the BG team get home OK. Bulgaria has just banned all flights between UK and BG.

Was done in March. They would be very welcome to stay here, great people.

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Little wonder that in the middle of a pandemic with the UK financials in disarray Bozo is still determined to push through with his precious Brexit. With Cummings at his side of course...

Because his backers want their payback:

Boris Johnson’s leadership campaign backers in the City stand to make billions of pounds from his ‘do or die’ pledge to take Britain out the of the EU.

On the day Johnson was announced as Prime Minister by his party on 23 July, it was reported that “more than half of the donations received by Boris Johnson originated from donors with ties to the City”. However,  this figure is actually much higher – and that many of the hedge funds involved are set to make a killing from his hard-line approach to Brexit.

According to the records of both the elections watchdog, the Electoral Commission and the Register of Financial Interests, between 10 May and 23 July, Johnson received £655,500 in donations. Of these, two thirds – £432,500 (65%) – came from hedge funds, City traders or the very wealthy. 

Under the 1922 Committee’s rules governing the Conservative Party leadership election, spending is capped at £150,000 per candidate, so that all contenders have an equal chance of competing. However, these limits only apply to the short campaign, which began on 7 July and excluded the period in May when Johnson announced his long-anticipated leadership bid. £318,000 of the donations were submitted late, after the leadership election result had been announced. These late filings conceal a significant trend. 

Many of these late donations were from hedge funds and people that Johnson worked with on the Vote Leave campaign during the EU Referendum, which was run by his current Chief of Staff in No.10, Dominic Cummings.

Crispin Odey, Paul Marshall, Peter Cruddas, Jon Moynihan, Jon Wood, Robin Birley, David Lilley, Philip Harris, JCB and The Bristol Port Company all donated (directly or indirectly through companies they and their co-directors are involved with) to Johnson’s leadership campaign and also contributed more than £2 million to the Vote Leave campaign.

The current speculation on short positions – in which hedge funds make money on prices going down – is almost identical to the hedging which occurred around Brexit during the EU Referendum. Byline Times has reported previously on the vast windfalls that Vote Leave backers accrued back in 2016.

At the start of this year, a number of hedge funds – including that of Crispin Odey who made £220 million on the night of the referendum result – announced that, in their view, Brexit wasn’t going to happen and that they were going to take bets out on sterling going up.

The firms that have taken out short positions over the past six months include many which either directly, or through their directorships of other companies, also donated to the Vote Leave campaign in 2016 and were involved in taking out short positions on the referendum result.

So, how much are these firms set to make from Boris Johnson’s ‘do or die’ approach to Brexit?

From the financial data publicly available, Byline Times can reveal that currently £4,563,350,000 (£4.6 billion) of aggregate short positions on a ‘no deal’ Brexit have been taken out by hedge funds that directly or indirectly bankrolled Boris Johnson’s leadership campaign. 

Most of these firms also donated to Vote Leave and took out short positions on the EU Referendum result. The ones which didn’t typically didn’t exist at that time but are invariably connected via directorships to companies that did. 

Another £3,711,000,000 (£3.7 billion) of these short positions have been taken out by firms that donated to the Vote Leave campaign, but did not donate directly to the Johnson leadership campaign.

Currently, £8,274,350,000 (£8.3 billion) of aggregate short positions has been taken out by hedge funds connected to the Prime Minister and his Vote Leave campaign, run by his advisor Dominic Cummings, on a ‘no deal’ Brexit.

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PK, or more likely someone in the Grauniad, described the financial markets at work. Those figures might look big but they are unremarkable.  

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