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Wrinkly
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Wrinkly is offline
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21-03-2016, 05:12 PM
21

Re: Brexit could 'blow £100bn hole in economy'

Originally Posted by swimfeeders ->
Hi

The truth is Brexit is going to hurt, how much nobody knows.

This is because Dopey Dave has done it wrong.

He should have invoked Article 50, the we want to leave bit and then negotiated before we had a referendum.

We would then have been faced with a choice,

Do we leave?

Staying in will cost us £X

If we leave, this is the deal we will get.

He didn't so we have no idea what it will cost.

If you are voting Out to control Immigration, forget it.

Both Norway and Switzerland who have good deals with the EU have them on two conditions.

The first one is they have to abide by EU Regulations.

The second one is the kicker.

Both Norway and Switzerland have to accept free movement of EU Citizens to live and work there.

So we will be no better off in that respect.

The EU have made it perfectly clear that that rule will apply to the UK as well and two Countries, Romania and Bulgaria have already stated that they will boycott any change to that rule.

Many people are unaware of this, but it is what will happen.

That leaves us with one option, we trade with the EU on the WTO Terms.

It will not kill us, other Countries trade on that basis, but it is going to be a big hit for years until we build up alternative Markets for our exports.

There will be no savings at all from leaving the EU for the next few years, we still have to pay them until Dopey Dave has finalised negotiations, which is a maximum of 2 years.

We will then have to cope with the aftermath of us leaving, which will cost in terms of paying back what we owe them for EIB Loans etc.

There will also. of necessity, be more unemployment until we find different markets for our goods.

All of which we can cope with, difficult, costly and if Dopey Dave had done it differently, mostly avoidable.

However the big unknown is this, the International Money Markets.

We have no control over these at all, we owe £1.5 Trillion to them and need to borrow £70 Billion a year just to keep going, even with all the cuts we have had so far.

If they downgrade us, our Interest Payments go up, we are short of cash to keep going, the cost of investments for our Industry goes up and we are in a Credit Squeeze.

The Bank of England has built up reserves of £88 billion in case this happens, enough to keep us going for a year and to defend the £ for three weeks to stabilise the markets.

If that is not enough, we are in a serious devaluation situation.

Remember the the £ in your pocket line?

That means a hefty dose of Inflation and rising Interest rates, an economic double whammy which will hit the vast majority of people.

The big International Money lenders and speculators will make a mint, £Billions in a very short time, as will the rich here in the UK, higher Interest rates means more income if you have a few £ million in the bank.

I am still voting for out, but I have made plans, most of my shares are gone, my cash is not in £Stirling, it is in other currencies.

The £ has gone down by 10% against those currencies since November when I shifted it.

I am no great financier, never have been, but my two kids, who both want to stay in the EU, are much better at finance than I am so I am doing what they advised.

They both want to protect their inheritance.

Sod father, lets look after our money.

I can't say that I blame them.
Great post SF. just like you my three children and my grandchildren are what I am voting for their future.
And they are all for IN too.
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OldGreyFox
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21-03-2016, 10:41 PM
22

Re: Brexit could 'blow £100bn hole in economy'

Originally Posted by clumsy ->
I imagine that for people our ages, who most likely are not dependent on their jobs to keep paying their mortgage etc, not so much reason to worry. It's those who are dependent on having work to pay their mortgages and keep their families who will do the worrying, in other words the average working person, not the lawyers, bankers and other professionals who are not so dependent on having a wage come in every month and who no doubt have money to fall back on. I know if I had to work, pay a mortgage and bring up a family, I would be worried.
Despite being in the EU there are thousands of miners, steel workers, farmers and fishermen who also have had mortgages to pay and families to keep but have lost their jobs anyway. Try and explain to them that they will be better off by staying in the EU. It hasn't done them much good so far.
realspeed
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21-03-2016, 11:26 PM
23

Re: Brexit could 'blow £100bn hole in economy'

If we vote out this does not mean we stop trading in Europe, quite the opposite we can make our own stipulations . Also we will be free of Europe to trade with any country in the world without EEC sticking their oar in saying we can or can't trade with this or that country.

The EEC will still need to trade with us as we will still be about the nearest market to sell goods to. America wants us to stay in as we are a back door for them to get into the EEC market ,not because they are thinking about our interests.

Because we will be free to trade anywhere, more jobs will be created, there will be a stop for foreigners coming into this country as and when they like. At the moment we have no rights to stop them.

We won't have to pay billions of £s into a bottemless pit but instead able to pay off the national debt quicker- give a huge financial boost to the NHS so Drs nurses and aux staff get a decent pay for the work they do.

We should also stop all overseas aid to countries that waste or don't need it, for example India when they spend it on sending missiles into space on our money.

We will also be able to rule ourselves again and not dictated to by other countries who insist on silly things like only being able to buy straight bananas as just one that comes to mind.

It is only the scare mongers that want us to stay in saying about job losses and the like. We did ok before we joined and will be better off if we left.
No more foreigners taking our skilled jobs in nearly every trade, but our own people having the work instead. Try getting a plumber-bricklayer-electrician- plasterer that is english, they are all taken by people from overseas.

Without all these people from the EEC coming to the UK the housing shortage will be over, more jobs for our own people, less scum of Europe coming to rob and abuse , tighter border controls etc etc
swimfeeders
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Shropshire
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22-03-2016, 01:54 AM
24

Re: Brexit could 'blow £100bn hole in economy'

Originally Posted by realspeed ->
If we vote out this does not mean we stop trading in Europe, quite the opposite we can make our own stipulations . Also we will be free of Europe to trade with any country in the world without EEC sticking their oar in saying we can or can't trade with this or that country.

The EEC will still need to trade with us as we will still be about the nearest market to sell goods to. America wants us to stay in as we are a back door for them to get into the EEC market ,not because they are thinking about our interests.

Because we will be free to trade anywhere, more jobs will be created, there will be a stop for foreigners coming into this country as and when they like. At the moment we have no rights to stop them.

We won't have to pay billions of £s into a bottemless pit but instead able to pay off the national debt quicker- give a huge financial boost to the NHS so Drs nurses and aux staff get a decent pay for the work they do.

We should also stop all overseas aid to countries that waste or don't need it, for example India when they spend it on sending missiles into space on our money.

We will also be able to rule ourselves again and not dictated to by other countries who insist on silly things like only being able to buy straight bananas as just one that comes to mind.

It is only the scare mongers that want us to stay in saying about job losses and the like. We did ok before we joined and will be better off if we left.
No more foreigners taking our skilled jobs in nearly every trade, but our own people having the work instead. Try getting a plumber-bricklayer-electrician- plasterer that is english, they are all taken by people from overseas.

Without all these people from the EEC coming to the UK the housing shortage will be over, more jobs for our own people, less scum of Europe coming to rob and abuse , tighter border controls etc etc
Hi

Who is this we?

Vast swathes of our industry is not owned by us, it is owned by foreign companies.

It is they who will make the decisions, and they will make them in their interests, not ours.

We won't be telling anybody, as you suggest, the terms on which we trade with them.

They will be telling us, simply because we owe them so much money.

We are so broke we cannot afford to build a new power station, we are having to ask the French to build it and the Chinese to finance it.

They are stinging us for it as well.

Did you know that Dopey Dave has signed up to pay them three times what we currently pay for electricity and guaranteed that payment for 35 years?
Purwell
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North Herts, England
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22-03-2016, 03:12 AM
25

Re: Brexit could 'blow £100bn hole in economy'

We are not broke at all, the money is just in the wrong hands.
swimfeeders
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Shropshire
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22-03-2016, 08:06 AM
26

Re: Brexit could 'blow £100bn hole in economy'

Originally Posted by Purwell ->
We are not broke at all, the money is just in the wrong hands.
Hi

So we don't owe £1.5 Trillion?

It is all a big lie?
Purwell
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North Herts, England
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22-03-2016, 01:16 PM
27

Re: Brexit could 'blow £100bn hole in economy'

Originally Posted by swimfeeders ->
Hi

So we don't owe £1.5 Trillion?

It is all a big lie?
Have you seen the books?
Julie1962
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Surrey
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22-03-2016, 01:38 PM
28

Re: Brexit could 'blow £100bn hole in economy'

Originally Posted by Purwell ->
We are not broke at all, the money is just in the wrong hands.
Originally Posted by realspeed ->
If we vote out this does not mean we stop trading in Europe, quite the opposite we can make our own stipulations . Also we will be free of Europe to trade with any country in the world without EEC sticking their oar in saying we can or can't trade with this or that country.

The EEC will still need to trade with us as we will still be about the nearest market to sell goods to. America wants us to stay in as we are a back door for them to get into the EEC market ,not because they are thinking about our interests.

Because we will be free to trade anywhere, more jobs will be created, there will be a stop for foreigners coming into this country as and when they like. At the moment we have no rights to stop them.

We won't have to pay billions of £s into a bottemless pit but instead able to pay off the national debt quicker- give a huge financial boost to the NHS so Drs nurses and aux staff get a decent pay for the work they do.

We should also stop all overseas aid to countries that waste or don't need it, for example India when they spend it on sending missiles into space on our money.

We will also be able to rule ourselves again and not dictated to by other countries who insist on silly things like only being able to buy straight bananas as just one that comes to mind.

It is only the scare mongers that want us to stay in saying about job losses and the like. We did ok before we joined and will be better off if we left.
No more foreigners taking our skilled jobs in nearly every trade, but our own people having the work instead. Try getting a plumber-bricklayer-electrician- plasterer that is english, they are all taken by people from overseas.

Without all these people from the EEC coming to the UK the housing shortage will be over, more jobs for our own people, less scum of Europe coming to rob and abuse , tighter border controls etc etc
Very much agree with both these posts.
swimfeeders
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swimfeeders is offline
Shropshire
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22-03-2016, 01:43 PM
29

Re: Brexit could 'blow £100bn hole in economy'

Originally Posted by Purwell ->
Have you seen the books?
Hi

Yes, published by the IMF and World Bank.

Now, where is your justification for your statement?
Purwell
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Purwell is offline
North Herts, England
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22-03-2016, 03:03 PM
30

Re: Brexit could 'blow £100bn hole in economy'

I don't have to justify anything to you or anyone else.
 
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