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War Chest?; To Fight the EU?
Topic Started: Feb 8 2017, 12:57 AM (279 Views)
Affa
Senior Member
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I came across this earlier.
Bloomberg

What the heck was Osborne up to?
This chart belies his efforts to reduce the deficit and as is implied here there was a very early preparation for the UK leaving the EU.
I've said it before - "Ignore the rhetoric Actions speaks louder". And this action can't have any other message than the intention to leave the EU was not only planned for, but anticipated. All we cannot know is whether there was intent to leave or not - Leaving has long been part of the Tory propaganda.

Posted Image
Edited by Affa, Feb 8 2017, 01:00 AM.
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Rich
Senior Member
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What do you suppose that the word "assets" means? could it be hard currency or what?
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Affa
Senior Member
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Rich
Feb 8 2017, 01:00 AM
What do you suppose that the word "assets" means? could it be hard currency or what?

It reads currency and gold reserves.
Aren't you at all concerned that Osborne stashed away an extra £80bn when balancing the budget was supposed to be his first priority?

He's borrowed around £80bn every year on top of existing debts (over £1,5 trillion), paying interest on it when he could have used this money for current account spending - removing the need for borrowing, and austerity measures. ffs, all they had to do was break the referendum pledge and the problem never appears!


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Rich
Senior Member
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Affa
Feb 8 2017, 01:33 AM
Rich
Feb 8 2017, 01:00 AM
What do you suppose that the word "assets" means? could it be hard currency or what?

It reads currency and gold reserves.
Aren't you at all concerned that Osborne stashed away an extra £80bn when balancing the budget was supposed to be his first priority?

He's borrowed around £80bn every year on top of existing debts (over £1,5 trillion), paying interest on it when he could have used this money for current account spending - removing the need for borrowing, and austerity measures. ffs, all they had to do was break the referendum pledge and the problem never appears!


But, just as you are so fond of saying, hindsight is wonderful.....how come none of us knew this?

What do you suppose that this government is doing.....and the next?

Just like me and millions of others, we will not know until after the event.
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Affa
Senior Member
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Rich
Feb 8 2017, 01:49 AM


What do you suppose that this government is doing.....and the next?

Whatever they get up to it will not be in your or my best interest.

Small Government means Abdicating responsibility! Privatise Public Services Neither do they
not desire to be held accountable for the starving, for school failures for the NHS. The whole ideology rests on 'let people fend for themselves and they will try harder'. Try harder to please the man!
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Steve K
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Once and future cynic
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You are confusing cash(able) reserves with bottom line balance
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Tigger
Senior Member
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Steve K
Feb 8 2017, 08:03 PM
You are confusing cash(able) reserves with bottom line balance
Exactly, and attempting to prop up the "free markets" with funny money alone is liable to see you lose the bulk of it unless you can back it up with something more durable and economically sound.
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Affa
Senior Member
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Steve K
Feb 8 2017, 08:03 PM
You are confusing cash(able) reserves with bottom line balance

I'n not confused at all.
But it would be more on topic if we were to hear what you think about the preparations for leaving that EU began as early as 2010, as soon as George took over the treasury?

If you use the word 'precautionary' when the whole urgency in 2010 was getting out of recession, I'll consider you a ............... what was is you like to use ....... something ending in 'wit'.
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Steve K
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Once and future cynic
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"If you use the word 'precautionary' when the whole urgency in 2010 was getting out of recession, I'll consider you a ............... what was is you like to use ....... something ending in 'wit'"

DNFTT
Edited by Steve K, Feb 8 2017, 10:58 PM.
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Affa
Senior Member
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I have this problem. If this is a forum where members are allowed to cross swords when opinions clash, why should I be expected to treat certain members differently solely because they have been elevated to administration?
I was addressing SK the poster and got a reply from the admin .......... the one that called me a fuckwit, bit reacts authoritatively at what at worst was a possibly implied copy cat comment that had a rider to it negating the name calling.
Think about it!

Edited by Affa, Feb 9 2017, 12:34 AM.
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Affa
Senior Member
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Just watched the youtube Tom Walker comedy rant on the other thread.
The one where he berates viewers for not engaging in debate.
This thread is one such example.
The implications here are so alarming that none dare speak their thoughts - for fear of what Walker described as "it's our own fault" for letting them get away with it.

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Steve K
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Tigger
Feb 8 2017, 09:02 PM
Steve K
Feb 8 2017, 08:03 PM
You are confusing cash(able) reserves with bottom line balance
Exactly . . . .
Yep putting cash into easily tradeable reserves isn't spending. The detestably ad ridden article linked in the OP does not support the OP

The deficit is the difference between income and spending and the very much 2nd order trading costs of foreign reserves are the only aspect of such that counts. In unstable times such as have prevailed since 2008 it is essential to increase such reserves and the mere £10B increase in the run in to the June 23rd vote was both prudent and insignificant in deficit terms.

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Affa
Senior Member
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Steve K
Feb 9 2017, 10:55 AM
Tigger
Feb 8 2017, 09:02 PM
Steve K
Feb 8 2017, 08:03 PM
You are confusing cash(able) reserves with bottom line balance
Exactly . . . .
Yep putting cash into easily tradeable reserves isn't spending. The detestably ad ridden article linked in the OP does not support the OP

The deficit is the difference between income and spending and the very much 2nd order trading costs of foreign reserves are the only aspect of such that counts. In unstable times such as have prevailed since 2008 it is essential to increase such reserves and the mere £10B increase in the run in to the June 23rd vote was both prudent and insignificant in deficit terms.


Thank You!
My first reaction was to £10bn being an insignificant amount.
The NHS would rejoice if given such an amount.

In 2010 a lot was made of the comic note left in the Treasury, 'there's no money', and this was used by the coalition as a true reflection of the state of affairs, We all know that there was money, but mot enough of it for current spending. But that didn't prevent Clegg or or the Tories from taking political opportunism to pretend it was a true statement.
Here we see there was £30bn in reserve.
The economy flatlined for three yeaea from 2010 it needed stimulating. I've told before why it wasn't, why Osborne staved off recovery, but the point I make is that building up reserves at a time when the economy isn't growing is bad! There is no better security than a strong economy, one that doesn't need propping up.


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