Traders Made Me Do It

 
"Heav'n has no Rage, like Love to Hatred turn'd, Nor Hell a Fury, like a Woman scorn'd."
                                                                                                          William Congreve

It is interesting that the Financial Times--no fan of Brexit--would twist the news suggesting that Prime Minister May's tough immigration talk triggered the nasty threats from people like Angela Merkel and others.

The FT, like much of MSM, suffers from a selective, convenient case of amnesia. The threats and nasty talk began way before the votes were counted. In what was a disgraceful attempt to derail Brexit, the President of the United States traveled to the UK and actually threatened "a long wait" to cut any trade deals if Brexit passed.

As an American we can only hope many UK citizens cultivate a long memory not just with the U.S., but those nasty, suffocating EU bullies in Brussels. Anyone who thinks the pound's crash was not orchestrated hasn't been paying attention to the U.S. presidential election.  These folks are the masters of orchestration, making many of those EU fops--the name Juncker should bubble to mind--look like
elementary school kids.

The pound recovered nearly all of it losses faster than even the FT can write the story. Merkel has her own troubles. She has been bamboozling the German citizenry for a long time. Did anyone in the UK think these arrogant, small minded EU bureaucrats were going to make it easy. The louder their screaming and threatening gets proves just how correct and necessary Brexit is.

Of course the FT and others rolled out the excuse that the pound's sudden swan song followed  a week of the earlier steady damage. The UK stock market and the pound have been separating faster from each other than Brad and Angeline. These scaremongers are long on fear and short on patience. What did they possibly think, there would not be any rough spots along the way?

One FT columnist played the scare card about two short sharp shocks to the pound, June 24 and this past week.The first one the day after the vote become a reality and this second one after earlier in the week soon after the date for Breixt was firmly established, something the naysayers were hoping would drag out and eventually lead to either another vote or a change in attitude. Could we just hear another round of Chase CEO Jamie Dimon whining:"There's still time."

This author took a page out f the late 1980s during the Asian Tiger debacle when one official blamed the traders. He pathetically criticizes them on two points: not initially calling the referendum correctly and convincing themselves and others a compromise was in the offing. Sounds like someone put a gun to his head and forced to him listen to the traders.

He then degrades them for being a fairly dispassionate bunch "who look at the data, balance the odds, and make their trade." We don't know about you, but that sounds like the perfect description of two groups of bureaucrats, politicians and central bankers.

And that as pointed out years ago is what this is all about, boys and girls and children of all ages, scorning the elitists status quo and their globalization madness. Nothing more and nothing less.