Dolph:
Britain loses Triple-A credit rating after Brexit vote!
Former Liberal Democrat leader Paddy Ashdown fears that Britain will eventually have to pay more to borrow, due to S&P’s downgrade:
UK credit rating down. Cost of UK debt up. 0.5% on £470 bn debt = £22 Bn. 2X our EU contribution to international money men. Taking control?
Ratings agency Moody’s will downgrade the credit rating outlook for major British banks to “negative” on Tuesday because of the fallout from the vote to leave the European Union, Sky News reported, citing sources.
A Sky News reporter said “a number of big UK lenders” had been told by Moody’s that their credit rating outlook would shift to negative from stable or positive.
Fitch and Standard & Poor’s cut Britain’s sovereign credit ratings earlier on Monday, judging the vote to leave the EU will hurt the economy.
Each month Osbourne borrows billions of new money via fresh bond issues to plug the PSBR.
Now that we’ve been downgraded, we’re “officially” (ie on paper only) supposed to pay more for our fresh borrowings straight away.
What the Bank of England is doing at present though - is printing £250billion of new money, and injecting it into the economy via what amounts to “yet more QE” by purchasing those bonds that we otherwise would have to sell to foreign investors at a discount. It’s already been done once for that amount since the referendum result came in.
It’s a temporary measure though. If we keep issuing new bonds, and buying them all ourselves with printed money - Mark Carney will eventually end up looking like ■■■■ Fuld - owning ALL the “about to go toxic” debt, at which point we face a crisis comparable to the Weimar Republic collapse in the 1920’s, and ■■■■ Fuld’s own crisis when Lehman’s collapsed.
Barclays and RBS were suspended for a while during Friday’s trading session. Were they caught long of the stock market and sterling I wonder?
Goldman Sachs are already on the record with regards to “London as a base” - “We’re not going anywhere” which in fact represents the strongest bit of leadership among a particular peer group shown so far… Goldman’s move will plug the dyke that otherwise have seen quite a few banks quit for places like Frankfurt.
That Hunt has suggested that a “vote for him brings a second referendum” - he needs to be taken out and shot by the current Triumvirate as soon as possible.
I would say that a denouncement by the end of today is likely, regardless of how guarded Hunt’s words were, bearing in mind he appears to be backpeddling as I write this.
So… To the Triumvirate then:
Boris for PM, supported by Osbourne who gets to keep his current job, and May who gets to keep her current job - despite being remainers in the lion’s den otherwise.
This would mean Boris being crowned as Cameron’s successor for a smooth handover in the autumn - by the close of business this friday.
That’s my read of the current situation anyway. 
Remember: You read it here first!
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just passionate about football. 
Yeh, I’ve just noticed somebody quoted it. 
