@Markaria - there is one other little lesson that can be learned from an old man - I’ve mentioned this many times over the years.
Look closely at the hr1 chart - in the hours in the lead up to the BOE release see what was happening to GBP - someone was buying and that someone was sizable enough to move price.
So you have to think about that - was this entity gambling that the CB was going to raise, or maybe that there would be some members of the MPC who favoured a raise.
If either the last two scenarios were to be then the MPC are out of the Brexit loop and must be the only UK persons to be so, therefore fools.
If on the other hand the GBP movers were of the opinion that the BOE was indeed out of the loop, then they too are fools.
Gbp price shakers are not fools - there is an old saying ‘sell high’ - you cannot sell high if price doesn’t go up.
I haven’t got Facebook but part of the value of this depends on the context - was she saying that controlling the less educated is a good thing or a bad thing?
Like all good traders he knows when a trade is going wrong so has announced today that the Brexit Party will only contest Labour held seats.
GBP rising on this news - but perhaps some caution needed - what about the marginal seats which the Tories have specifically targeted as possible wins in order to achieve a majority?
“Every nation gets the government it deserves.”
(Joseph de Maistre, opinionated French person, now dead)
The most significant move in the UK General Election campaign so far has come from Nigel Farrage, not even an MP. Johnson, Corbyn and Swinson have only managed to make themselves look ham-fisted. Brexit may get done but we’re going to have a terrible terrible Prime Minister.
The caution was thrown to the wind when first the rumours Thurs past that Farage would concede even more, specifically the marginals
Then yesterday the Telegraph newspaper ran a story that a further 43 seats were to be given up - i.e. not contested by the Brexit party in order not to split the Leave vote.
This further reinforces the Tory party’s possibility of a working majority and thus the chances of the Johnson Great New Deal getting through Parliament - GBP positive.
Week ahead - if confirmed then expect more GBP buying.
One other little item which is relevant the the upcoming UK GE.
British Telecom (BT-A) on LSE - on Thursday past after market close Labour announced a policy change - they would ‘partially’ nationalize that company in order to provide free broadband to all UK households.
So want a guage on how the market perceives the likelihood of a Labour win?
Then check how the BT stock was sold off (or not) yesterday.
The Boris (formerly T. May) deal now has the green light and NI is safe.
Much of the difficulty in getting this deal done over the past 3 years can be traced back to one Mp - Nigel Dodds - leader of the 10 DUP MP’s that propped up the last Government.
Democracy has spoken - he lost his seat, one that he has held for the past 15 year so.
Good news all round - now to the hard part, get a trade deal sorted with the EU.
Thankfully that dreadful anti democrat woman Swinson has been ejected from Parliament
The Ultra-left has had a good spanking and Brexit is validated. - Sadly how much of the result is due to the Public rejection of Marxism and how much is due to Anger over the betrayal of Brexit - is hard to judge.
I’d like to think it was the Marxism - but then I admit to being the teenziest bit biased against advocates of slavery, theft, dictatorship and genocide.
Corbyn’s reaction to the result sums up an attitude.
Labour canvassers were reporting back that they were being told on the doorstep ‘no Corbyn PM’ - I could see from this distance that his leadership/policies were rubbish and that a good man like Keir Starmer would do a much better job.
Yet even now, in the worst defeat since 1935 the best Corbyn can say is that the party needs a time to reflect.
Reflect on what? - looking in the mirror with huge blinkers on will not do any good. He and Momentum (Militant Tendency) need to leave the scene - for good this time.
The far left live in a mental ghetto, fuelled by blind faith that the end justifies the means.
Its almost inevitable that each time a left political regime or movement fails, they generally put this down to media sabotage or US imperialist disruption or capitalist chicanery.
Aye, it’s the thing with extremes - it blinds the extremist.
Probably what annoys most is that some of their aims are noble, such as large companies paying their fair share of taxes.
Funny thing about Boris, I suspect that he will deliver, not just Brexit, but much more.
T May succumbed to DUP bullying - but not Boris - he has this thing about positive mental attitude , he called their and Corbyn’s bluff.
They are saying 5 years as PM … i’d say he intends just a little longer
On the current Labour leadership, yes, all companies should pay their fair share of taxes, and these might need to be higher, but we don’t need to surrender the country to Marxists to get that fixed.
And yet, he has been gifted that majority by Nigel Farage, who in doing so has pretty much self-destructed the Brexit Party and left a sour taste for many of us. Boris has simply hijacked Nigel’s methods of garnering votes and many many of the Brexit Party’s policies. As far as I can see Boris has come up with nothing of his own !
I’m totally sure that history will recognise Farage’s complete domination of the entire exit from the EU, even at the expense of his own job !
Without Farage, we’d still be living under Cameron (or Corbyn) - amazing that one Guy, who never even sat in Parliament has dictated the events of the last 5 years so totally.
Will he get a “Lordship” ? - I think it simply HAS to be offerred and I wonder if he will finally take it ? - Personally, I think he should - a Knighthood !
