When you have massive debts and you’re never anywhere near to getting to0 the end of the month there are three logical options. Firstly, you can enter into a deal with your creditors, in this case, primarily, China. This is the now discarded Osborne option after the lately departed Chancellor of the Exchequer. Secondly, you can “take out” your creditors. This is the al Capone/Hillary Clinton option. Or, finally, you wait for the bailiffs. This is are post-Brexit option. As the pound falls the Chinese and others will simply buy up the UK in the Great British sell-off. In a way, it is good news since they could simply convert the sterling reserves to gold or other assets, leaving the pound to sink even further. By triggering the regionalization of the UK the Scottish independence referendum has helped to prepare for this scenario by dividing the country into bite-sized units forced to sell assets to make ends meet. Regional administrations can also easily be dominated by overseas interests. I have long argued for the first approach whereby we continue to act as a sovereign nation by resolving the debt issue through negotiations at state to state level. That approach has been spurned and the Panarin scenario looms. Of course, it’s not too late to change course.
From semiconductors to soccer, foreign takeovers are good news for Britain post-Brexit
12th August, 2016
While alarmist in tone, this narrative is in part borne out by data – stats recently released by Thomson Reuters point to an increase in the value of foreign takeovers in the month after the UK’s vote to leave the EU. Almost 60 transactions totalling $34.5bn were struck by foreign companies for British firms in the month after 23 June, compared with 79 deals worth $4.3bn in the month leading up to the vote.
In These New Times 