BREXIT: Four more reasons why a leap in the dark is better than taking a back seat

leap

A brief survey of what we’ll be leaving behind when we take this alleged Brexit ‘leap in the dark’.

  • Italian banking stocks have declined by over 25% since the beginning of 2016. Earlier this week,  shares of Monte dei Paschi fell nearly 5% in a day, and they have now halved in value since the start of the year.  Shares of Carige were down 8% in one day, having in turn dropped 58% since the start of the year. Non-Performing Loans (NPLs) on banks’ books are around 20% of total lending.  This amounts to approximately €200 billion….12% of Italy’s GDP.  In some cases, bad loans make up  30% of individual banks’ balance sheets.
  • The mess created by EC meddling in Ukraine continues to have bad consequences. It’s bad enough that The IMF has warned the failure to address endemic graft risks sinking a $17.5 billion bailout. Now it emerges why Ukrainian President Petro Poroshenko was in Ankara on March 9: for a high-level strategic cooperation council meeting as the guest of President Recep Erdoğan…only three weeks after Turkish Prime Minister Ahmet Davutoğlu paid a snap visit to Kiev.
    On the same day as Davutoğlu was in Kiev to hold talks with Ukrainian Prime Minister Arseniy Yatsenyuk, Ukrainian Chief of General Staff Viktor Muzhenko met with his Turkish counterpart Gen. Hulusi Akar, in a sign of intensified military and defense relations. The two presidents chaired the council meeting with the participation of their countries’ foreign, defense, trade and energy ministers in order to shape a new phase in bilateral political and economic relations…given they share €4.5bn in trade, hardly surprising. So that’s one more Erdogan thorn in the side of the EU’s Eastern empire.
  • Britain will have little or no say over decisions made in a European Union increasingly dominated by German interests, Iceland’s prime minister Sigmundur Gunnlaugsson asserted yesterday. The UK, he addede, will wield “diminishing power” in institutions still under the sway of the Franco-German alliance: “When it comes to the big stuff the decisions are made by two, and increasingly one, country. Others are called to  meetings to approve of what has been decided, if not in the afternoon then during the middle of the night. This seems to have become the standard way of doing things in Brussels”
  • Nearly three months after the general election, Spain still hasn’t formed a government. New elections in June look increasingly likely, but in the meantime no economic progress is being made…and everyone continues to go lalalalalaaah about the unsolved bad debt ratio the banks racked up during the pre 2010 property boom. In turn, Interior Minister Diaz is making off-message noises about the migrant share-out plan: “Spain mustnot drop its guard We need to be prudent,” he said, adding that closing the route into Europe through the Balkans would see many refugees seek to enter Europe through the southern coast of the Mediterranean.

So then Remainders, we can take a leap in the dark, or a running jump off a diving board into untreated sewage. What’s it to be?

Yesterday at The Slog: Is Mario Draghi the Man with the Golden Gun?

28 thoughts on “BREXIT: Four more reasons why a leap in the dark is better than taking a back seat

  1. In a loveless marriage , dinner consists of cold tongue and roast salad.
    The alternative is to eat out at a choice of restaurants.
    So it is with the EU. Out is the only real choice.

    Liked by 1 person

  2. But the Italian economy is suffering because of a combination of euro membership, the world economy and poor domestic decisions. It has nothing to do with the issue we’re being asked to vote on – EU membership.
    The mess in Ukraine was caused by a CIA-orchestrated coup, not by the EU
    Britain may not have a big say in the EU but we have even less in our foreign policy, which is directed by the Americans (see all the wars in the past decade or two), who also operate military bases in the UK which we have never voted for.
    Spain is a vastly richer country as a result of EU membership, regardless of its current problems.
    And it isn’t fact a leap in the dark leaving – we’ll still be saddled with same self-serving establishment and undemocratic American and Israeli interference but just without the moderating hand of the EU.
    So, on balance, I think Remain is the better option.

    Like

  3. Tom, I think you’ll find that the EU was/is very much involved with the Ukraine issue. Considering that the primary reason for the creation of the original European integration was to stop war it seems to have forgotten that founding principle. If you have expansionist aims, which the EU undoubtedly has, then occasionally that may well get you into a bit of a scrap with some of your neighbours.

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  4. @Tom

    I don’t disagree with your description of our current situation, but I would argue that the rest of Europe has been suborned by the very same U.S. and Israeli interests, and that at least with Brexit, the ability of ordinary Britons to effect change is enhanced. True representative government does not seem possible in large scale polities. The greater the concentration of power it seems, the greater the influence wielded by self-serving psychopaths and multinational corporations.

    I might change my mind if I saw the prospects of genuine revolt in France for example, but barring another DeGaulle, I think it unlikely, especially with the increasingly draconian censorship there.

    Liked by 1 person

  5. @ Tom

    You are indeed correct that the EU is not completely bad. Much of the beneficial consumer rights we enjoy would not have been passed in the UK of its own volition, there is little doubt about that. The reluctance of the EU to mindlessly support US foreign policy is also beneficial, although the EU is only slightly less of a lapdog than the UK Establishment and political class, do not forget that Ukraine was a joint US – EU action and the less power Russia has, the more comfortable the EU feels, which given Russia’s history may well be justified. And while the EU does tend to be less of a warmonger on the whole, it was after all French interests that were served by the Libyan conflict (Qaddafi was successfully orchestrating a North African alliance that was diminishing French influence, something France was not prepared to allow).

    However it must be remembered that ‘ever closer Union’ is alive and well and the political classes as a whole are determined to see it come, just as they are almost to a man true believers in One World Government, indeed, it is only Russia and China that have held it at bay. Also the EU is vehemently opposed to democracy, at least in terms greater than lip service (not that our own political classes are any different). The founding fears of the EU were after all that popular democracy inevitably leads to nationalism and nationalism and the Nation state inevitably lead to war. Thus the EU belief in self-perpetuating, unaccountable technocratic government by a trained, elite bureaucracy standing above political and ideological motives, but prepared to listen to democratic voices, listen to but not be bound by.

    So as you say, one has to consider which of the two Curate’s Eggs is less repellent. For me the balance lies with Brexit.

    Liked by 1 person

  6. Love all this ‘Brexit’ , ‘in’, ‘out’, shake it all about bollox.

    Our ‘free,independant press’ [© CIA] have provided us with a nice little meme [Brexit] that we can all regurgitate at will. Now the ‘nation’ can have a big debate about some meaningless details, while neatly ignoring the huge pile of elephant dung in the middle of the room.

    Here are some details which our ‘free’ press has neglected to mention:-

    1] America says we cannot exit the EU. So that is that. We are staying in. Your opinions, like your votes, are irrelevant.

    2] Every Prime minister since Callaghan was put in place by the CIA, with the willing collusion of our own establishment.

    3] ‘Our’ legal system, financial system, health care systems, press, moron-o-scope, language, banking systems, local government, national government[traitors], indeed all of ‘our’ society, has been, is being or will be ‘americanized’.

    4] We will wake up one day, very soon, and realise we are living in a totalitarian, corporate, fascist state. We are almost there now. Just one more little shove and we are there.

    5] Cameron and the Bullingdon bum boys [© pig shtuker Party] will all be mincing off to America to collect their 30 pieces of silver when they have “done their bit” and leave office. Just like all the long procession of traitors before them.

    6] The standard, response to posts like this, and the brilliant, eloquent articles written by Mr. Ward is to mutter “conspiracy theory” and quickly switch off our brains. this is a pre-programmed, Pavlovian response which has been implanted into the brain of ‘the great unwashed’. [SEE- Dr.Jose Delgato, Edward Bernaise, The Millgram experiment, MK Ultra, Monarch.]

    7] You are a worker drone. Those who are not ‘good’ drones will be abandonded to die in the streets, and villified by the rest of the ‘good’ worker drones. [SEE- Bedroom tax, arbitrary benefit cuts, the war on the disabled, increased homelessness, increased starvation, increased suicides, mass poverty.]

    I could go on but its pointless. Its not that people cannot see all of this with their own eyes, its the fact that they are too frightened to see. Acknowledging the truth is to admit that the fake, ‘hollywood’, disneyland, reality we are being spoon fed with is not real. Its simply too much for the useless fat morons sitting at home watching their , soap opera, “reallity” programing. They may have to get up off their fat, brain-dead asses and DO something. Far easier to just swallow down the lie than face reality.

    But then, who gives a damn. nobody will read this post. Certainly, nothing will change.

    Gotta go. I have a once thriving business to bury. Then i have to work out where the hell to emigrate to. So long suckers. DONT FORGET YOUR PRE-PROGRAMMED MEMES.

    ARBEIT MACHT FREI.

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  7. @Skirmish

    The EU was certainly involved, but I’m not sure they had much say in what went on and elements of the EU were probably duped by the CIA/State Department coup specialists. The leaked Baroness Ashton phone call and Nuland/Kagan’s “Fcuk the EU” tape would suggest that EU influence over events was minimal.

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  8. The two things that put me off voting for Brexit are:

    1. The singularly odious nature of the entirety of that fleet of ne’er do wells lined up to convince us to leave. I know, I know, Tony Blair, Peter Mandelson etc etc on the other side, but *all* of the Brexiteers are uniquely abhorrent humans. Not a redeeming feature between them. Iain Duncan – the absolute personification of evil.

    2. Not entirely unrelated to the above, I fear that the Tories would use their unshackling from the bounds of EU ‘red tape’ to destroy any last vestiges of protection for the ordinary worker, which are pretty much the worst in the Western world already. If they way they are currently persecuting the terminally ill and disabled is anything to go by, I shudder to think what they would do to the rest of us if released from those flimsy restrictions that are all that lie between us and the UK being one giant sweatshop.

    Liked by 1 person

  9. PS. This article, like pretty much all those you have written, is a brilliant statement of FACT Mr Ward. For fawkes sake dot stop and dont give up. You wont find stuff like this on the internet anymore. An oasis in a vast desert of mindless pap.

    Today Count Dragula and the rest of the EU fruit-loops have decided to drop the standard interest rate to zero and start buying corporate stocks, bonds and other fraudulent activity. Cannot wait for you to pick through that lot and give us the facts. Their is a paucity of FACTS and TRUTH everywhere else one looks.

    Liked by 1 person

  10. The European Union was actually an American creation.

    Post second world war, America saw the opportunity to transform a war torn continent. It wanted Europe to be complimentary to American policy, viewing American federalism an an ideal political model. It wanted to assimilate Europe and implemented various covert operations to undermine staunch resistance to federalist ideas, especially by the British Labour government. The opportunity was a puppet run super-state filled with attendant yes men for trade and the manipulation of strategic global markets and, just as importantly a defensive buffer zone against it’s new foe – the Reds from Russia and China.

    Diplomatic historians have unearthed evidence of US backed covert operations designed to undermine communist influences in Europe. US officials worked on a plan in 1950 to lead to a United States of Europe. It is here we see the emergence of the Bilderberg Group and The Action Committee for a United States of Europe. Winston Churchill was one of the five presidents of the Council of Europe, a disparate organisation urging rapid European unification.

    Interestingly, these particular documents were not found in the archives in America or Britain, but in Brussels, the de facto capital of the European Union.

    http://truepublica.org.uk/united-kingdom/origins-eu-usa-covert-operations-assimilate-europe-federal-state/

    Liked by 1 person

  11. One issue I ponder is, what will closer union, a European Superstate mean for the UK? Will they drag the rest of Europe down the the UK’s level or, drag the UK up to the European standard?

    Liked by 1 person

  12. I do not understand the argument which says we should remain in the vague hope that the EU will somehow protect us from our own political/corporatist class, which is surely a counsel of despair based on a forlorn hope and would at best only enable us to drown alongside our continental cousins. Leaving would at least give us the opportunity and impetus to focus on putting our own house in order – who knows, such an opportunity might concentrate the minds of the masses to face up to certain realities that, in any event, desperately need to be addressed. We are approaching an endgame where numerous sacred cows must inevitably be sacrificed, starting with the fattest: have we really lost all self-belief and courage? Every journey begins with the first step, without which we cannot hope to escape the abusive relationships into which the EU has visibly deteriorated. While recognising the fears of those who wish to remain, it’s highly unlikely to be an attractive or long term viable option. Let’s get out and get over it rather than cowering like hostages to a fortune which we cannot sensibly aspire to influence and which must, eventually, rob us of our national sovereignty; once that’s gone it may not return for generations. To those who truly feel it isn’t worth defending, I would suggest some serious historical research.

    Liked by 8 people

  13. I try to keep myself informed reading this blog, the best I can find, and the comments, as well as what is available on the web that seems worth reading given the constraints of reasonable time.

    Despite that I do not think I could make an informed calculated decision as to the merits of leaving or staying in the EU. I think there must be a multitude out there with no more idea than I have, or even less, who have to make a decision which way to jump. I am annoyed that the fear of the unknown is a factor as we will never get anywhere with that philosophy. Are we men or mice? Not sexist by the way.

    So I have decided that instinct is the only guide, as there is no rational analysis that can give a conclusive answer and I shall no longer endevour to try to find one that way. I assume intuition or instinct is largely a subconscious distillation of what has passed between my ears over my existence and trust it more that what others promote. So for those who like a little adventure and have no fear of the unknown I can see no alternative but to vote for Brexit.

    Liked by 5 people

  14. The pork a piggie party and the blair et al darkside are not capable of giving the electorate a clear coherent reason for either staying or remaining in the eu. They all have their cosy post political, well paid sinecures to consider. It must be remembered their agendas are dictated before they are considered for office.and the wishes of the electorate are of no consequence. The results of any referendum are dictated well before the voting takes place. Politics is a Punch and Judy show, the puppet master controls all that is perceived to be seen. The harsh realities lurk behind the curtain to be inflicted when least suspected..

    Liked by 2 people

  15. Italy yet again another euro country without a central bank to readjust its economy wether you like it or not! Now in the hands of the ECB who are hamstrung especially by Germany.

    Not a UK issue we don’t have the EZ issue … a refresher then, ther Lisbon Treaty we signed up to the end goal was and is a single central bank controlling the eurozone. Staying out in the current global economic climate renders the BOE against the ECB as a form of economic warfare, if the ECB changes what do you do? Go in then? Yea lose the BOE and now you have no way to control the economy …

    The halfway in or halfway out position no longer works UK elites so make the call all in or all out and if in then suffer the fate of the eurozone … it is that simple … no more little island that you can keep under your strict control.

    You will be subservient to the EU or should we compare it to Rome or like Carthage and sacked.

    Liked by 1 person

  16. I can see no alternative to leaving the EU if we as a nation (and people) want to have any choice over the direction in which we are going… As a member – we will be told what to do and how to do it by people who believe that they are born to rule.

    As an independent country we can vote for people who will take us in the desired direction for the majority. Within the EU – our general elections are, quite simply, meaningless. Within the EU we are but one vote which is usually ignored by those who require a different direction.

    We have already lost our ancient rights and protections which were always in favour of the individual against the power of the state. Europe has its own inferior code Napoleon which we are going to get whether we want it or not – if we stay in. At which point we are lost to the corporates…

    Liked by 3 people

  17. The “Black Dude” as John likes to call him just let the world know that in his view Ukraine belongs in the Russian sphere. This along with the dictator of Turkey making a deal both with Ukraine and the EU makes Europe a dangerous place. Free travel for Turks in the EU in exchange (along with a lot of cash) for taking people that Russia has displaced in Syria back to Turkey.

    Things are heating up on your side of the pond. It’s time to raise the drawbridge.

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  18. I have just started reading Steven Keen’s debunking economics,not even on the first chapter yet,but the EU question or answer already strikes out at me all economist are right and all economist are wrong and none of them understand why,this is the case over the EU.

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  19. Things we apparently can’t do, which miraculously we could do in the 18th century:

    1. Trade globally as a sovereign independent country. Those nasty Somali pirates will stop any British ships carrying good through the old Suez-Aden route. And as for doing drops in Lagos followed by Cape Town before heading on to Mumbai, forget it. The Argentine navy will sink every last ship……
    2. Run our own Central Bank. Whether the age of Central Banks is disappearing with all the digital currencies emerging, who knows. But we’ve actively been destroying all our knowledge built up in the BOE over however many hundreds of years, as evidenced by hiring a Crazy Canuck to run it for us. So there……
    3. Negotiate our own trade deals. I’m not sure I’d want CMD doing it on our behalf, but there surely must be some suitably competent multimillionaire self-made businessmen who’d make a reasonable fist of it. Especially if they bunged some foreign politicos with some horny dusky maidens, got MI6 to film it secretly and then blackmailed them on the final round of negotiations to get us a super duper outcome…….
    4. Run our own railways. After all, we invented the ‘neo-privatisation’ whereby the French Nationalised Railways or the German nationalised railways ran our ‘privatised services’. Didn’t we??
    5. Teach our children how to speak Mandarin, Hindu, Farsi, Portuguese and the like. As we’ll hire some French bourgeoisie to act on our behalf in French Africa and the Germans all speak English anyway.
    6. Keep the invading hordes out at Dover, Southampton, Heathrow and all the other places where economic migrants are trying to claim asylum. How hard is it to say: ‘No you f***king can’t come and live here. Go home and don’t come back again!’ Too hard, apparently……
    7. Use the fact that the Jews murdered Jesus as a daily negotiating tool with Tel Aviv. I mean: why appease those who bumped off our eternal saviour, eh? It’d be like the USA giving Special Favoured Nation status to the nations behind 9/11……..and the Greatest Nation on Earth would NEVER do that, would they?
    8. Tell the Americans to grow up beyond their pathetic global domination control-freak psychopath mantras. Most people grow out of it by about the age of 3, after all……
    9. Keep the Chinese under control by turning them all into opium junkies. About time we did it to all the Jihadis, isn’t it??
    10. Bung a few minor Indian Royals to let the East India Company make hay all across the Subcontinent. Now we can’t even control the cricket gambling dens, can we??
    11. Keep the Yemeni savages under sufficient control to allow us to use Aden as a staging post for trade along the African East Coast, for trade up the Straits of Hormuz and for trade all over India and SE Asia…..
    12. Grow food without ruining it all with fertiliser. I mean good old cow shit isn’t any good is it?

    No wonder people think they need the protection of Brussels………

    Liked by 2 people

  20. @Bill C

    “…for taking people that Russia has displaced in Syria back to Turkey.”

    Really? That meme has actually stuck south of the border?

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  21. I would argue it is not a leap in the dark – it is a leap into rather marginal twilight. We know that the EU can’t impose worse than WTO tariffs on us. We know there’s a big wide world out there that wants to buy our products. We know we are the 5th largest economy in the world. It seems pretty unlikely that any Boris-led government would manage to completely crash our economy. And equally, we might find that there is a boost to our economy. We immediately get a £9 billion net boost to our economy from not having to pay EU contributions. We also get back our fisheries which are worth billions. And we immediately have access to cheap goods e.g. reducing the external tariffs on Californian and Australian wine could cut the price by 80p a bottle.

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  22. I agree with you totally. Though I sometimes think you are very stupid when it comes to Widows computers maybe your heart is in the proper place and most of you and your readers should also join with us and condemn EVERY EUgovernment so far because no matter what country, it is only immigrants [and also violent and very forceful immigrants] which *always* seem to get what they want.
    It is time to throw out every immigrant in our borders – except maybe Jean Ward who is possible producer of things maybe.
    Thank you/

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  23. A few of us can survive the jungle. Most of us cannot.
    The eu circus and the democratic party are a collective vehicle suitable only for the mass spawned gormless multi cultural populations that are growing expotentially today.

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  24. I wonder whether this might have a lasting devastating effect on the EU, if they end up with a president that rolls back the US influence around the world and stops demanding the EU do as it’s told, things could take a very different turn…but, perhaps not…

    ‘FBI Morale “Very Good” As ‘Immune’ Hillary IT-Staffer Reportedly A “Devastating Witness”‘

    http://www.zerohedge.com/news/2016-03-11/fbi-morale-very-good-immune-hillary-it-staffer-reportedly-devastating-witness

    I wonder how far this will run?

    Like

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