Tuesday, 11 October 2016


Reuters - 11 Oct 2016 - Trade-weighted sterling hit a nearly-eight-year low of 74.0 at the Bank of England’s first morning print of the index, which measures the pound’s broader strength. It was also half a percent weaker at 90.51 pence per euro.
Some traders cited a Financial Times report that Russian bank VTB may move its European hub to Frankfurt, Paris or Vienna as having added to worries of financial sector cutbacks inLondon due to Brexit.
“There is nothing to go on on the data front today, but concerns surrounding our ever increasing current account deficit have reignited discussion around the widespread impact such a hole can create,” said Tobias Davis, head of corporate treasury sales at Western Union in London
Neil Wilson ETX Capital - 11 Oct 2016 - GBP/USD crashed through the $1.23 handle to around 1.2284, its lowest level since last week’s gyrations. It’s not unreasonable to think that ferocious flash crash was just a very tentative toe in the water and the pound is now plunging headlong into the abyss.
Sterling seems to be looking for a level and it’s really unclear where that could be and so bargain hunting is a risky game to play at the moment. The $1.20 handle earmarked by many before the referendum is definitely in play as everyone seems to be short sterling at present.

WAR WITH RUSSIA - LETTER TO THE GUARDIAN - 13TH OCT 2016 - Turncoat, bumbling, embarrassing  Boris Johnson today attempts to obscure his idiocy and the already immense costs of Brexit by declaring war on Russia. As winter closes in, he just has time to use the Royal Prerogative to march on Moscow - alone. (Conservative ex-ministers warn May of Brexit risks – Guardian 13 Oct 16). Repetition of “the-people-have-spoken” does not give this hapless, incompetent Cabinet a mandate to spend the next 3 years bankrupting Britain. They should follow all the other leading, lying Brexiteers and resign with their tails between their legs. Time is very short if we are to restore business-as-usual and rescue our economy. The nation needs a coalition of Remainers to reverse this lunacy – Now!  

Noel Hodson

Following traitorous, ex-Prime Minister David Cameron's 52% to 48% Brexit referendum, the government and media now deny the existence of the 16.1 million intelligent 48% REMAINERS, cleaving to Tory education Minister Michael Gove's statement "We have had enough of Experts!" and they elevate the majority IQ challenged LEAVERS - those who voted "Out" only to register a protest against the Ivy-League elite who run the UK and siphon all the spare wealth to tax-havens. These LEAVERS, stalwart-peasants, the Longbow-Men of Agincourt, and Sons-of-the-Kings-of-the-Waves, and Your-Country-Needs-You World-War-One canon-fodder, understandably had difficulty analysing the myriad complexities of the UK quitting the EU - thinking that the vote was really about kicking out the Tories. They didn't and couldn't know that quitting the largest and wealthiest market in the world would sideline and bankrupt the UK and consign us to the dustbin of history.
"THE (STUPIDEST) PEOPLE HAVE SPOKEN" - Our currency, Sterling - once the world's reserve-currency, then trading at $5 to the Pound, has collapsed since June 2016 by 17% -which Murdoch's idiotic Brexit media machine is hastily trying to tell us is "a good thing". And this week, the Tories, 1922 Committee, whose KKK-like, old-white-males dominate Prime Minister Mrs May, have forced her, our new Prime Minister, to announce a ban on foreign students - one of our largest currency earners and most valued global exports. Next, she will ban tourism - because that beer-swilling anti-European little fascist fake-tan rat-bag, Nigel Farrage, doesn't like to hear foreign languages on his local train to London. All these exceedingly stupid "The People Have Spoken" anti-business moves have impoverished the UK by 20% - since June. Would President Trump or President Hillary have made such nationally-destructive decisions? 

The UK does not have to quit Europe - it is not too late to regain our sanity. 

LETTER TO THE GUARDIAN - STUPID - STUPID - STUPID: Following Jonathan Freedland’s “Who speaks for the 48% as we lurch to extreme Brexit?” (Guardian 8 Oct 2016) we urgently need a leader, now, today, to form a coalition to represent the Sixteen-Million-One-Hundred-and-Forty-One-Thousand-Two-Hundred-and-Forty-One (16,141,241) intelligent Remain voters. BBC News reported last week that Paris is inviting London banks and hi-tech start-ups to defect, to escape Brexit. In the global “free-markets” Sterling has collapsed by 17% against the dollar and Euro. Renault-Nissan might pull out. Mrs May’s Three-Stooges have lost all credibility.  Our nation is being ruined while moronic Brexiters gormlessly repeat “The people have spoken” and “Brexit means Brexit”. It will get much worse. We cannot watch our nation being bankrupted by the mob who believed the Leavers-lies with no idea of the consequences.  Do NOT trigger Article 50. We do not have to leave and commit economic suicide!

Noel Hodson - Director
Tax Reconciliations, Oxford UK,

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