Brexit do or die

Posted By Darren Winters on Aug 2, 2019


Brexit do or die

The Brexit turmoil continues with the latest UK Prime Minister Boris Johnson (BoJo) a Eurosceptic and staunch Brexiter now raising the stakes with his Brexit do or die rhetoric speak.

UK PM BoJo has taken to stage and promised “no ifs, no buts”, that the UK will exit the EU on October the 31st. 

Brexit do or die has a sense of hopeless desperation to it

So why didn’t PM BoJ0 just quote the British Special Air Service motto, “He who dares, wins,” as surely that would have stirred up some old memories and rattled the Brussels apparatchik. 

But maybe not, bearing in mind that it was the UK who recently appealed to its European allies to provide extra ships or joint patrols in the Gulf.

The UK is facing growing frustration among shipowners operating British-flagged vessels about the extra dangers they face — risks that could prompt some to switch to other countries’ flags. 

The Brexit do or die farce in the context of security, the policing of vital shipping lanes, is already being revealed

Here is the zinger, the UK eyes their European allies for security in the Gulf and not the US who has the most naval assets in the region.

If the UK were genuinely thinking about leaving the EU don’t you think it would have asked its closes ally, the US who it has a special relationship, for shipping security in the region? 

The UK already turned down the US’s offer of protection for British-flagged vessels.

A nation about to exit a trading bloc doesn’t turn to the very same political and economic union for security. 

BoJo’s Brexit do or die could be another trick or treat.

Boris Johnson - Brexit do or die

The recent Cabinet reshuffle gives the impression of hardliner Brexiters in the high echelons of government. We are led to believe that this is a government which will not roll over and have its tummy tickled.

Moreover, on the other side of the negotiating table, the EU has indicated no comprise of its withdrawal and backstop agreements. 

The Uk’s feared that the backstop would be used to permanently trap the UK in the EU customs union, preventing the country from striking trade deals. 

The new staunch UK Brexit government will result in both sides digging in for a no comprise deal.

Put simply, Brexit no-deal now looks more likely than ever, leaving the UK with a stark choice of either economic suicide or surrender its parliamentary sovereignty to the new superstate, headquartered in Brussels. 

A no-deal Brexit would have significant economic consequences for business and citizens, which would be disproportionately much greater to the UK than the 26 EU member states.

BoJo’s Brexit do or die could throw the Island nation into its worse political and economic crisis in its history

“We are surely witnessing the worst political situation in the United Kingdom since the Suez crisis” – Lord Jacob Rothchild.

Indeed, UK Debt Management Office (manages the sale of gilts) needs to raise on the competitive international bond market approximately GBP 11 bn every month to keep the lights on, as I reported in Brexit means backpedal Brexit. 

To make matters worse the UK government is facing the biggest debt-refinancing bill in recent history. 

Almost 100 billion pounds ($128 billion) of government bonds will mature in the next fiscal year when Britain needs to repay a host of bonds issued after the financial crisis a decade ago. 

Moreover, Brexit do or die means the ongoing hemorrhaging of corporate capital inflows.

Fewer foreigners are coming despite GBP sinking like the Bismarck, down 15% against king dollar. Project fear is a reality and the UK parliament will not permit a no-deal Brexit.

PM BoJo’s recent speech was rich in political rhetoric and poor in substance. His mandate to deliver Brexit and unify the country is frankly buffoonery at best.

A vast majority of Scottish voters would not have agreed to hand BoJo the keys to number 10 due to his anti-EU rhetoric. Scotland’s SNP head Minister, Nicola Sturgeon has reiterated that she would bloc Brexit. Needless to say, Ireland, in the eurozone is no supporter of Brexit.

Brexit is not only economic suicide for the UK but it also risks fragmenting the union.

In a few words, Brexit do or die in reality could mean Brexit backpedalling Brexit.

The current prime minister has the support of his party, but not of the nation.

BoJo has inherited a mess, a disunified country which is already economically fragile and a UK parliament that will reject a no-deal Brexit. 

Parliament has already rejected the PM’s proposal three times. 

Brexit do or die is another charade with BoJo as the fall guy

My fifty cents worth is that BoJo goes back to parliament with a no-deal Brexit, parliament then rejects the offer and a general election is called.

After severe economic hardship, a collapsing currency the public will then vote for a remain government but this time the UK goes all in ditching the pound and it is swallowed up by Brussels.

I see a new world order coming, ruled by the “experts” and not the people. The EU could be the trial balloon where there will be a neofuederal global society with financial kings at the apex, then the corporate lords, administered by technocrats with the feudal global serfs slaving away at the bottom. 

So the Brexit do or die could mean the death of BoJo’s political career but I am sure he will be well pensioned off not to worry about a thing. Meanwhile, for the Brexit hedge-fund, the UK’s crisis is another moveable feast.

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