Who stands to gain if we crash out?

[Bluntness100]

Rachel Johnson said something deeply concerning. And the media have all but ignored it. They have done no more than report it.

She commented that there are people who have invested billions in shortening the pound, that they need us to crash out, and that there effectively may be pressure on Boris due to these people. In her interview yesterday.

So basically if you buy dollars, for example, then sell them when we crash out, because the pound will drop between an estimated 25-40 percent, you then get 25-40 percent more pounds when you sell. You then wait for the pound to stabilise and you've cashed in and made a small fortune. One example of how you can cash in on no deal.

Why are the media not exploring who stands to gain if we crash out? What influence do these people have on the prime minister if any? None of the opposition parties have commented on it either.

Everyone is focusing on language, but for me, the thought there may be people who need a no deal brexit, and who will make a fortune if it happens, or loose big if it doesn't, is something deeply concerning.

Any views?

This stuff is keeping me awake at night and has been for 3 years now. What the hell is going on?

It's old news mostly. They were doing it quietly but Johnson is one of them so now there's direct pressure from the people who backed him.
JR-M does politics as a hobby for social lubrication. He makes his money from the financial markets. Far too grubby for the class he wishes he was.

The thing is though, that whilst there are always disaster capitalists and people who were hoping for a no deal brexit to make money, this course of action wasn’t ever really on the table as a serious option until recently. There has been a massive switch and the government is actively working to get no deal.

Surely there is a huge conflict of interest here if some of our mps are literally knowingly and willing causing the demise of our country purely to make money. They are meant to be representing the interests of their constituents, not their financial backers.

The group that stand to gain billions include individual investors, hedge fund investors and other asset managers.

Rachel Johnson ( who has definitive inside knowledge) said “ My brother is under a great deal of pressure by investors who have short positions in pound sterling”

You can google it but there are numerous wealthy people who are poised to make big money from shorting. It's not just JRM and Aaron Banks.My DH knows two people whose eyes glaze over with glee at the prospect of leaving with no deal and the pound dropping further. It will profit some families for generations.They, their children, and any future grand children and future great grand children will be supported for ever. Here’s some explanations..

how~to~short~currency

financial~times

short~bets

There's definitely a massive conflict of interest with MPs set to make financial gains for themselves, their friends and party backers but it's going to be near impossible to prove it .

Meanwhile in other news Yaxley Lennon and Katie Hopkins have come out in support of Johnson after his vile display in the Commoms so their strategy is totally working. The country is slipping into the hands of the far right and we're just watching it happen. The rhetoric being used at the moment is so similar to 1930s Germany it's chilling.

I am still shocked we are even in this position - dreading a no deal
Brexit 😱

Slight tangent but what would be the financial advice now for anyone with some savings - buy US$ ASAP to mitigate pound losses? (Thinking of parents)

Regarding buying US...I read that UK investors with US equities have already had an additional lift of 14 per cent since the ref due to the drop in sterling? Don't know if it's too late now though?

Like most people, I hadn't thought about who stood to gain in the event of no deal, because it was clear we had a prime minister who wouldn't let it happen. Teresa May.

Now in the last two months our world has changed, we have a prime minister it seems who is hell bent on it. Who seems keener to get no deal than a deal.

His sister said he might be under pressure to resign if he isn't able to get us out with no deal, pressure from these individuals. People who have billions have a lot of power.

Who is it that wants us to crash out and stand to gain. Party contributors? MPs. Who.

The issue is there is no way people like Corbyn, or jo Swindon, Nicola sturgeon don't know there is people that stand to gain.

But it's the subject every one is avoiding. Everyone other than his family it seems.

And it's a valid question. Maybe it's just too hot for them. Maybe they also have contributors or members who stand to gain. Maybe they don't want that level of scrutiny.

But something is very very wrong here.

Guys, you don’t need to crash out to make billions. The same people who meddle/work in investment have been making millions already, because even the 1% drop (one way or another) of the currency almost every time Boris/EU open their mouths gives enough volatility to make profit. If you know in advance what’s going to be said (because it’s all planned! Don’t believe in the emotions you see on display, it’s a plan, not real emotions) you can make 1-2% with every swing, and if you swing multiple times a month for months on end....there you go. Also safer than betting the house on a full 20% devaluation..:

@BubblesBuddy

Back to JCB - Anthony Bamford is a massive Brexiteer. I expect he’d rather be trading on WTO terms.

Large Media outlets have explored this.

Independent 26 Aug 2019
New Statesman 3 July 2019
Guardian 7 Feb 2019.
Forbes 12 Nov 2017

More July 2019 articles in Irish Times & HuffPost. I believe FT & Economist have both run articles about it, too.

I think it doesn't catch public attention b/c the financial instruments are so complicated. I only understand coz I watched The Big Short.

Here's the clip of Rachel Johnson saying this on World At One, for anyone who's interested.

The comment about pressure from shorted investors at around 3:06 mins:

OFFS. Correct link:

I've always known the agenda for Brexit, and especially a no-deal Brexit. It's purely for the interests of the uber rich who will get richer and not have to have their dodgy tax evasions investigated. Of course the media are not reporting it because they are owned by Murdoch and other super-rich. This is why the media are going in so hard against Corbyn et al. Sadly it's proving very effective. It's incredibly transparent, but until I can vote again there's not a lot I can do about it.

Johnson is under huge pressure from wealthy Tory party backers who he needs to fund his GE campaign. If he doesn't commit to leaving 'do or die' then they will switch their cash to supporting the Brexit party. These people desperately want to avoid the EU anti tax avoidance rules and also stand to make a fortune from our chaos and misery. Then there's the chance to rip up the rule book on employee rights, food standards and anything else that they happen to think will increase their productivity and profits.

It's has always been all about the money

I also agree OP that the fact that the PMs sister has said that he is under pressure from people who stand to gain financially is something very significant and alarming that in any other times would be jumped upon by the media.

So B Johnson calling the WA the "surrender act", means surrendering to the majority of Leave voters who expected their government to take us out of the EU in an orderly manner.

Rather than crashing out for the win, for multimillionaires.

Yes.like previous posters, I am cynical enough to have known this for years. I guess it depends where you get your news (see @lkk's links). My main fear is that we leave without a deal and then we lose the NHS, and get flooded with american goods, none of which are produced to the high standards of the EU.

the fact that the PMs sister has said that he is under pressure from people who stand to gain financially is something very significant and alarming that in any other times would be jumped upon by the media.

This in bucket loads.

If Berlusconi's sister had said something like this -then our press would be over it being superior at how corrupt other governments are.

This is on my Twitter feed this morning on this very subject

Any ideas on how to get individuals to see the reality here?

My friends are out canvassing again this weekend, and time and time again they're hearing about Johnson (sorry, "Boris") being "our man", "the man of the people", followed by all his nasty phrases. They don't want to listen to facts, absolutely not interested, if he turned up and shit on their doorstep they'd still vote for him.

Interestingly, these people don't know who Dominic Cummings is, and they don't care either.

So how do we get them to see truth before it's too late?

Oh and most of the pro Boris people don't even know who their current MP is. My biggest hope is that they turn up to vote, see Brexit Party on the paper and vote for them instead, so splitting the Tory vote.

(We had this at local elections, people couldn't understand why Farage wasn't on their paper. Seriously.)

I’m reading a boom about it which is VERY VERY interesting. Ece Temelkuran, 7 steps to lose democracy...I’m still at chapter 2, and everything she describes as the first 2 steps has happened already. Apparently there’s a glimmer of hope at the end...I’ll let you know when I get there!

(This is an interview that I listened, she sounds a lot of sense! podtail.com/en/podcast/the-david-mcwilliams-podcast/curious-minds-discussing-turkey-and-losing-democra/)

I think a big part of the problem is that an awful lot of people consume news through social media, which acts as an echo chamber recommending similar things to what you have read previously. So the vast majority of people (who don’t go looking for news, just browse their Apple news top stories/twitter/fb) only get their opinions reinforced. It’s only on here or if I go looking I find different stuff that isn’t what my devices have decided I should read. Begs the question who is in charge of the algorithms that decides what each of us can see.

Between brexit and the climate stuff with Greta I’m feeling rather pessimistic about my/my children’s future .

The people at the top simply don’t care. Big business keep making junk which is killing the planet, business men keep making money, and it feels like a significant majority are selfish bastards who only care about themselves (and presumably their immediate family). I have no idea how we can solve it.

If I’m brutally honest, I would not want to be in politics. All that pompous nonsense and bickering in parliament, with massively outdated speech and titles - if we tried that in the boardroom in the real world we would be sacked. I wish for a strong, honest, democratic government but I don’t think either (any) side offers that. The type of people attracted to politics don’t seem to be pinnacles if social justice and philanthropy (in any party).

I just watched carnival row on amazon, it’s a fantasy which has a huge resemblance to real life.