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123 sats \ 1 reply \ @newnym 10 Oct 2022
Chancellor on Brink of fourth Bailout for Banks
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0 sats \ 0 replies \ @kr OP 10 Oct 2022
😂
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501 sats \ 0 replies \ @02d6987ce2 10 Oct 2022 freebie
Did anyone actually read the article?
Bailouts were actually only a fraction of that which was budgeted for
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108 sats \ 0 replies \ @mf 10 Oct 2022
https://media.tenor.com/fKIG2kiLVPgAAAAC/this-is-fine-its-fine.gif
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1 sat \ 0 replies \ @DeezSats 10 Oct 2022
🤡world
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1 sat \ 7 replies \ @faithandcredit 10 Oct 2022
Do they have a plan you think?
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100 sats \ 5 replies \ @blocktock 10 Oct 2022
Yes, it's all choreographed. Drastically devalue the pound (~£0.70 to $1), and peg their own debt yields for financial repression.
Devaluing the currency creates higher inflation on the population (given everything the U.K. consumes is imported). This eradicates the middle class allowing leaders to further push the agenda that Putin is to blame, not the BoE and drum-up support for the war effort.
Eventually this encourages foreign investment (particularly U.S. capital given the pound becomes cheap) to come in and scoop-up or invest in the country (ideally creating independent energy infrastructure).
It also makes U.K. exports cheaper for the wider world, once they do eventually get their shit together and start producing some actual real products.
Short-term bearish for U.K residents (given the insane amount of products that are imported to the country) but potentially a bull case once the dust settles (~15 years).
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501 sats \ 3 replies \ @02d6987ce2 10 Oct 2022 freebie
- 70 pence to a dollar would mean a dollar devaluation
- A gbp devaluation would entice all FDI not just US source
- Nobody believes that Putin is to blame for inflation. Rather, quantitative easing, incompetent government, and a ruling international elite that doesn’t give a flying crap about the working class.
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0 sats \ 0 replies \ @blocktock 11 Oct 2022
- Oops, well spotted. Should read $0.70 to £1.
- All other countries like Europe will devalue too, so US will likely be the greatest beneficiary.
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0 sats \ 1 reply \ @faithandcredit 10 Oct 2022
It would be very interesting to go and poll the public and ask what they think about the inflation. What causes it. The answers might surprise us.
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0 sats \ 0 replies \ @blocktock 11 Oct 2022
Exactly. The mainstream believe what they are told. And it is very much non-stop Putin is to blame for all of the country's incompetence.
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0 sats \ 0 replies \ @gunson 11 Oct 2022
Will be complicated if Tories lose the next general election (likely at this point). Labour Party will want to nationalise everything especially energy, and they’ll want to stop all fossil fuel electricity generation. I’m afraid we just end up with more debt, no actually decent energy infrastructure (probably the opposite), but yes a weaker currency.
Even worse, cheap pound means wealthy dollar “investment” could come in and further centralise - think more supermarkets run by Walmart and Amazon while small business struggle to compete.
The one silver lining is a crash in the housing market due to Gilt yield volatility hopefully leading to more affordable homes.
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0 sats \ 0 replies \ @Bendejo 10 Oct 2022
Yes, they are trying to save the fiat standard - hopelessly.
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