The immediate and spectacular fall of the value of the Pound against mainstay currencies around the world like the Euro and the Dollar meant that some speculators were making massive profits watching it slide, but were they involved in the referendum conspiracy or just unwitting benefactors of this massive political upheaval?
Pound Dives In Value
- Instant decline
- Lowest since 1985
- Continued fall
The Remain campaign had trotted out no end of experts to warn against Brexit. There were the diplomats and statesmen advising that it would lessen our standing in the world, the industrialists and businessmen warning of dire economic consequences and the economists themselves who found it all such a ridiculously bad idea that they couldn’t begin to imagine anyone being so stupid as to vote for it. This, naturally, fed into the referendum conspiracy of silence and misdirection.
One of the major predictions would be the deep instability in the currency markets that would cause wild fluctuations of exchange rates on which so much trade is dependent, and which, of course, is another of the speculative markets in which people shift money for profit as external influences adjust the prices of each currency. Those of you that like to bet on sports in the UK at Bet365 etc will understand the principle all too well, the results on the morning of the referendum conspiracy coming to fruition? Horrific.
Did The Referendum Conspiracy Cause Currency Calamity?
Bank of England
- Mark Carney
- 250bn On Standby
There was a certain quantity of hysteria as the British Pound dropped off a cliff against a raft of currencies with all the momentum of a manically depressed lemming. Typically placid business correspondents tried to explain the significance of a 15 cent drop against the Dollar in a world where a cent or two was deemed mammoth movement without sounding hysterical as the victory of the referendum conspiracy sent the UK’s currency spiraling down to a low not seen since 1985.
The FTSE dove 500 points on opening and despite bouncing back somewhat as short sellers regained their wares, the temporary losses and currency disaster led Moodys to downgrade Britain’s rating to negative, and if you’re in the UK gambling news of a recovery will swiftly march in as Boris Johnson inevitably takes the reigns of power, it does seem a little unlikely. The currency markets suffered from the referendum conspiracy because they too are based on confidence, and the Brexit vote destroyed it.
Will The Bank Of England Step In To Steady The Ship?
Naturally with George Osborne threatening an emergency budget and the Chairman of the Bank of England Mark Carney saying he’s willing to do anything necessary to keep the economy stable, noting he has 250 billion GBP on stand-by should it be required, there is a distinct state of limbo setting in that the referendum conspiracy orchestrators will doubtless profit from. Chaos is so easily leveraged in global markets.
The protectionism of UK gambling laws that the industry manifestly wants to pursue was reflected in the shifts in currency values, and the beneficiary alongside well as those that knew they’d profit from the referendum conspiracy of misinformation, is a plethora of politicians that have sought and attained glory, but with Nigel Farage one of those to profit most by the referendum conspiracy that had even him hoodwinked, in Part Five we look at the rise of the right and why their supporters are wrong.