The BBC tells us, shouts at us…….
IMF: Brexit could cause severe damage
Analysis by BBC economics editor Kamal Ahmed:
Maurice Obstfeld, economic counsellor to the International Monetary Fund and the organisation’s chief economist, says there could be “severe regional and global damage” if Britain were to vote to leave the European Union.
An exit would present “major challenges” and a prolonged period of uncertainty which would “weigh” – that is have a negative effect – on confidence and investment.
Market volatility could increase, trade could be damaged and economic growth undermined.
Mr Obstfeld, an expert in international finance, is a former economic adviser to President Barack Obama.
And, as one of the top 40 economists cited in the world for his research, has muscle in this arena.
So the world will collapse if the UK leaves the EU…never mind that most trade agreements will continue until new ones are agreed.
The EU looks upon the IMF as an organisation that should be there to help Europe….
Germany’s Angela Merkel and European Commission President Jose Manuel Barroso’s comments come amid debate over whether the next IMF chief should come from the developing world.
Ms Merkel said a European was needed in light of the eurozone’s problems.
A spokeswoman for Mr Barroso was quoted as saying it was “only natural that the member states of the European Union, as the biggest contributor to the fund, agree on a strong and competent candidate who can rally support from the IMF membership”.
But what of the IMF’s Mr Obstfeld? He’s clearly not head of the IMF but is a very, very influential friend at the court..being the economic counsellor to the International Monetary Fund and the organisation’s chief economist.
And he is a pro-EU integrationist stooge…
The euro area is moving quickly to correct one flaw in the Maastricht treaty, the vesting of all financial supervisory functions with national authorities.
However, the sheer size of bank balance sheets suggest that the euro area must also confront a financial/fiscal trilemma: countries in the euro zone can no longer enjoy all three of financial integration with other member states, financial stability, and fiscal independence, because the costs of banking rescues may now go beyond national fiscal capacities. Thus, plans to reform the euro zone architecture must combine centralized supervision with some centralized fiscal backstop to finance deposit insurance and bank resolution.The EU imposed the euro on a linked system of national economies with well-known structural rigidities in labor and product markets. Within each country, powerful national vested interests protected existing distortions.
Banking union must repair the discipline deficit that allowed unrestrained borrowing and lending to set the stage for the current crisis….if it is to succeed, banking union requires some pooling of national fiscal resources. Likewise, collective EMU support of sovereign borrowers also justifies stricter centralized fiscal oversight, as a matter of political necessity as well as incentive compatibility.
Or how about this unmistakeable pro-EU centralised state passion of his……the EU must be very happy to have him on board….
A Euro Visionary at the IMF
Maurice Obstfeld, who’s just been appointed chief economist for the International Monetary Fund, has followed the common European currency project for decades — since it was a relatively loose association….His policy recommendations for Europe, however, have been clear and consistent: If the monetary union is to work, the euro zone needs more integration. If Europe’s leaders cannot do an end run around domestic opposition in the name of European integration, EMU could prove unstable.
If you vote for remaining in the EU you should know what to expect….ever more integration, the subsummation of the UK into the EU with political and economic power handed over on a plate….meaning that the UK loses the power to decide its own fate as best it can and that its treasury can be plundered to fund whatever the EU decides is in the best interests of the EU…whether that’s handing over billions to other states or using it to promote the glories of the EU itself.
I’m sure the BBC has pointed all this out to us in its report on Obstfeld’s remarks…or maybe not.
Not long ago the IMF was telling us how being out of the Eurozone gave us flexibiltiy to survive a crisis…
To put that in plain English, the Fund is saying that countries with their own currencies (i.e. not in the eurozone) don’t have to worry too much about international lenders charging them higher interest rates because of increases in government borrowing and/or debt.
Radio ‘5 dead’ had a spokesman from the IMF this afternoon. I was absolutely amazed when he started talking about the dangers of nationalism and rise of nationalism, the inference of course very clear as of course one reason for the EU ( allegedly ) is stop any of that Nazi stuff happening again! Also apparently leaving the EU will damage the world economy. The IMF is totally out of it’s jurisdiction when it starts pontificating about the wishes of the European peoples.. nationalism or not.
I expect the BBC headlines tomorrow to be .. Brexit.. the rise of the Fourth Reich and world trade destruction!
…the inference of course very clear as of course one reason for the EU ( allegedly ) is stop any of that Nazi stuff happening again!
Of course, Britain staying in the EU will simply strengthen the power of international socialism, with a handful of unelected megalomaniacs imposing their will more and more drastically on the member states.
I doubt that they will start constructing death camps in the green and pleasant English countryside but with the stealthy introduction of laws that stifle dissent they will be able to lord it over their captive populations even more effectively than hitherto.
I hope and pray that sanity will prevail and that the British public will give Cameron and his cronies such a resounding NO vote that he will have no choice but to accept it.
It seems to me that it is the EU elites’ refusal to listen to the concerns of ordinary people, with regards to 3rd World immigration, that is causing the rise of ‘extreme’ parties all over Europe. The EU is destabilising Europe and their policies, such as forcing countries to take muslim immigrants, is fuelling nationalism and laying the groundwork for future wars.
It is as far away from ‘preventing war and fascism’ as it could possibly get.
As I said in my last post;
Only today the IMF have stepped into the discussion saying we should stay in the EU. Barak Obama has stated we should remain in the EU.
These fuckwits are not concerned about Britain – they are concerned about their own interests. “Please don’t leave the EU, it’ll mess with our economies. The EU‘s economy is on the verge of bankruptcy as it is without you Brits leaving!”
This isn’t about us – it’s about everyone else. And there was me thinking we were just a little insignificant dot on the landscape.
Of course, we’re not. We are still a power to be reckoned with. We should never concede to the rest of the world! We have to decide OUR future – not the future of our neighbours.
The establishment is getting desperate now. Every slight of hand technique, every mis-direction, every subliminal brainwashing message possible is being used to frighten people into staying in the EU. Its all they have and clearly reading the HYS the Al Beeb have on this subject people can see through the lies and deception.
We all know what it’s like being in the EU, it’s desperate and damaging. We can see its impending doom on the near horizon and those with vested interests are desperate to do everything it takes to lie to us all so that they get what suits just them. The Al Beeb, EU, and every single one of the traitors cueing up to tell the little people that we must stay in the EU or our world will be worse off need to understand that it’s they that make our world worse off. Its these self serving, power hungry traitors that use the system and influence of our great and wonderful country to satisfy their devious, conniving lives with wealth and power whilst forcing the people that puts them there to suffer and struggle through a world being changed without our consent.
What this one event has shown us is that we are treated with utter contempt by our establishment. That they treat the privilege we have given them as a God given right. That they are desperate to give away the control and sovereignty of possibly the greatest state the world has ever known when it was never theirs to give, for their own benefit! They have continually lied to us about doing the right thing for the people of this country when only ever doing what is right for their sick and delusional beliefs.
The current breed of professional con merchants infesting our elite are aggressively pursuing the destruction of our way of life. They have riddled the entire state with mind blowing amounts of debt to create a drug addict like population desperate for government help to survive. They are actively trying to suppress our ability to make our lives better as they swamp the jobs market with cheep labour, social engineer voting blocks, brainwash the young, create laws to prevent criticism, encourage the Islamification of our country to destroy our way of life, and take away the one tool we have to keep our establishment in check.. Democracy.
Vote out.
Tothepoint,
You are spot and, may I say, to the point. Cameron pissing £9m on propaganda to be shoved through every letterbox tells you everything you need to know. Far be it for me to encourage bad behaviour but I suspect a number of leaflets will be used to wrap something unsavoury and posted back to No10.
We got our piece of DM today.
If that piece of PC anodyne waffle is what they are hoping will sway folk with brains, free will and access to the Internet, then they really don’t deserve to prevail.
Nicely PC in the casting balance I felt; shame they used a bloke’s photo without permission, though.
All the arguments laid out were from months ago and all pretty much rendered unsustainable by events, dear Dave… events.
Speaking of whom, what, or who, constitutes ‘The Government’?
I had always thought it was the MPs and Ministers of the party in power.
If that is the Conservatives, what about those not in favour of Remain, and those constituents who voted them in as representatives?
For “Government” read “Rump Tory Government”. Rump meaning “an inferior remnant” as regards the fact that Pro-EU Tories make up an unrepresentative 30 percent minority of the party, but have effectively purged the 70 percent Pro-British Patriotic majority of the party from access to British Government Departments, by order of the Lord Protector of Traitors, David Cameron.
It must be the first time in history that a majority of a political party has been purged by a minority. No wonder that Cameron and his unprincipled careerist cronies, bully the docile party workers and leafleters, and call the principled 70 percent of the party, swivelled eyed loons.
If I had £9.5M of someone elses money to give away, I would put that into print and deliver it to every household in the country.
Well said, Tothepoint!
A perfect example of that desperation today was the alacrity with which the BBC seized on and trumpeted the babbling of the IMF’s Maurice Obstfeld about the volcanic eruptions, tsunamis, plagues of boils and attack by fire-breathing dragons that would befall the world economy if we left the EU kleptocracy.
They are desperate and it shows. Clearly, this was timed to throw Cameron a lifeline.
Had the IMF been anything more than a front organisation for thieves and the power mad, we wouldn’t be in the mess we still are. When we get rid of the EU, the IMF can go next.
FFS! Steve Jones and Jerry Owen stealing my thunder!
Come on guys, at least spend some time on your PS3’s. I know you must be waiting around all day for the next blood-pressure inducing fix, but let’s give those of us who don’t usually post at this time of night a chance.
You need to get out more. Haven’t you got a pub quiz to go to?
Edward,
My apologies old chap. Just one question, what is a PS3? Don’t answer, I was just reminiscing about an old ‘Not the Nine O’clock News’ item which now seems to come from another age; an age when the BBC produced comedy and the news was on earlier.
The only thing I remember about Not the Nine O’clock News was Pamela Stephenson.
A PS3 is the latest ‘turbo’ Stannah stairlift. Don’t try to kid me you haven’t taken one for a test run! As you well know, it’s all the rage, especially as you can get it installed free of charge if you take out an over-50’s insurance policy.
I’m still trying to work out what the insurance policy actually covers.
Let me guess which Pamela Stephenson sketch you remember best! It might have contributed to the credit crunch.
Looking at a global list of average wealth per adult in 2015, the top ten countries in order are: Switzerland; New Zealand; Australia; USA; Iceland; Norway; UK; Sweden; Luxembourg; Singapore. Only three are in EU, and three are European countries not in the EU. Over in Asia, tiny Singapore separated from the much larger Malaysian Federation in 1965 and was expected by the so called ‘experts’ to crash and burn on account of its size. Where is Malaysia now? At number 56! The utter nonsense we hear about Brexit from financial and economic lickspittles is truly astounding to behold!
More relevant than average wealth, which is bumped up by small number having huge wealth, is the modal wealth range i.e the level of wealth the largest number of individuals ina country hold.
Given that wealth is a very distorted bell curve, with a long tail to the right the modal will be substantially lower than the average everywhere, but in Britain more so than many other European countries.
Are you saying that all those countries are hoping for a Brexit?
Think again!
Not on the BBC:
“Research from Edinburgh University shows that 53 percent of French would like to hold their own vote on EU membership, and in Spain, Germany and Sweden more people are in favor of doing so than are opposed.”
Europe Newsweek
On the bright side, two groups want to leave the EU , ie ‘Go’ and ‘Brexit’
The government want to remain ‘in’.
Then that’s 2 to 1 to leave the fabricated failed state that is the EU.
Soros, Bono, Obama, IMF, and Hollywood want us to remain in the EU. They are all panicking that the EU gravy train is headed for a crash.
Thats more then enough reason to get out of the stinking totalitarian communist EU.
A billionaire Marxist, an ageing singer named after a brand of dog food, America’s most incompetent president ever (yes, even taking Carter into account), a financial wing of the globalist government and the lie factory of Hollywood. As they say, with enemies like this who needs friends?
An none of them any more competent to have an opinion than anyone else !
Completely irrelevant in the overall scheme of things but the FTSE 100 is up over 90 points this morning. Just imagine the doom and gloom had it been down the same amount!
FTSE up or down. This is a few years ago but I am sure that the attitude is much the same. https://www.youtube.com/watch?v=pzpOg8APiBo
(Not yet fully convinced, one way or the other, about Brexit… but…..)
Interestingly, if a Brexit were about to cause world market Armageddon, why aren’t the IMF, the EU, and other such international bodies hurtling forward to offer the UK all sorts of concessions – e.g. total control of our own borders, elimination (for ever) of any net contribution to the EU by the UK via rebates (a la Mrs Thatcher), etc., etc.
After all, such concessions are supposed to work for Greece and Turkey in their efforts to stem mass migration to the west – I think we could negotiate a great deal here…..
….. of course, the rest of the world would have to really believe that the Armageddon was a realistic prospect……rather than just pushing a disaster scenario to get us to do whatever they want.
Do I hear any bids…. from the IMF…. from the EU….?
No – thought not. Tumbleweed time !
Nick Robinsons programme on the EU last night had some nuggets.
1. Enoch Powell and Tony Benn both spoke in archive footage…Benn referred to the EU as taking power via a coup, Powell despairing of how cheaply the British gave away their sovereignty.
2. Heath, Rippon and Pym, Jenkins were all interviewed too…and it`s clear what a stitch up between failed elites the whole project is. Heath in particular sounds evil, Jenkins an oily liar.
In short, the elite knew what they would do to the country…and it was all deliberate and a stitch up.
Heath came across as a dreadful supercilious deceitful arse….