Investors take billions from UK economy amid fears of Brexit and a fall in value of the pound
Charming. These people may actually cause a run on the pound.
Investors are moving billions of pounds in assets out of British currency and assets ahead of the European Union referendum, new figures suggest.
Around £65bn left the UK or was converted into other currencies in March and April, the largest amount since the economic crash.
In the six months to the end of April, £77bn was pulled out of British pounds, compared to just £2bn in the six months to the end of last October.
The figures, published by the Bank of England, are consistent with investors worrying that the pound is due for a sharp fall should Brexit occur.
Because financial markets are prone to collective panic, investors’ views are the main factor in determining whether the pound will actually fall. Any perception that a fall was about to take place could end up becoming a self-fulfilling prophecy.
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Johnson and his unpleasant motley bunch of nasties don’t care what damage they cause as long as they get their own greedy, selfish way.
Good to know who your friends are. ……or is yet another cunning plan
to spook the horses reinforcing economic stay arguements.
Just shows how much of our assets and economy is controlled by the assets strippers of the neo-liberal elite. It’s exactly the same as the slow and on-going stripping of the UK assets through off-shoring and tax evading companies and individuals have done for the last 6 years. The loss of the profit generated by the UK economy without reinvestment or tax payment has actually depressed the economy further, as yet another layer of govt policy that does not look after the interests of the people of the UK. I am sure that it’s not just the prospect of Brexit that is causing the jitters, it’s the prospect of a claimed mandate for the loony rabid right wing mandate for Farage, IDS, Patel, Gove and the others. That’s the main danger in the immediate and long term (10year) prospect for the UK.
Trust the City and its poodles the Bankers to think of themselves rather than the Country. But they are such an Asset we can not afford them to leave and go and work elsewhere! Piffle.
The referendum is far too important a decision for us, the voting public, to be scared, or pressured, or blackmailed into doing the will of others. We must make our decision based on the best information that we have and that is sorely lacking. How can we be expected to vote for, or against continued membership of an organisation about which most of us know from very little to nothing at all? Why should we be subjected to the whims of those who will always think of themselves ahead of us? They will secure their financial future, whatever we do. If we vote to remain and the Euro crashes and our economy suffers, they will still be okay.
Every time that I have worked abroad, without exception, the value of sterling has fallen. I cannot be swayed by these people. they are not interested in us, our future, or our well being. We must arm ourselves with knowledge and base our decisions on that knowledge; what the E.U. is, how it works, what it does, what we have gained, what we have lost, what we can achieve exclusively through our membership, what we cannot. These are the things that matter, not some unseen entity playing fast and lose with other people’s live for financial gain.