Daily Debrief Feb 24th

Military leaders warn against Brexit: The government is pulling in its patronage and its pay-roll vote.  Yesterday we saw the letter from FTSE-100 CEOs – though against the promised eighty, in the end only thirty-six signed.  Today it’s the turn of the military.   They say that Britain is better able to deal with threats like ISIS while we remain in the EU.  They don’t explain why.

After Brexit, Anglo-French military cooperation (which is outside the scope of EU institutions) will continue, as the most significant military relationship within Europe.  Our NATO membership will continue, and is the guarantee of our joint security.  By contrast, the EU makes very little contribution to security – indeed it undermines it, for example by deliberately provoking Russia in the Ukraine.  It is difficult to think of any circumstance where the EU itself has contributed to security.  Its impotence in the face of the immigration crisis is a case in point.

We have other cooperation in Europe, including sharing of intelligence, and police cooperation.  This however will continue on an intergovernmental basis where it is beneficial to both parties.

Exchange rate turbulence: There has been some recent softening of the Sterling exchange rate, and there is little doubt that Brexit and Boris Johnson’s declaration for Brexit are factors.  Markets are notoriously driven by sentiment and the herd instinct, rather than by logic. Much of this can be blamed on the scaremongering of the Remain camp, and their grotesque exaggeration of the supposed risks.  There will certainly be some market turbulence – perhaps some buying opportunities – associated with the UK’s departure from the EU. But stability will return as soon the doom-mongers notice that the sky is not falling.

After Brexit, the British economy will perform strongly, markets will recover, and indeed we can expect other member states to demand referenda and seek to follow the UK’s example.

It is ironical to reflect that Central Banks around the world are today looking for ways to bring down their currencies in the interests of competitive devaluation.  Generally they have great difficulty doing so, since with interest rates at rock bottom the primary tool for bringing down a currency’s value is denied them.  In this context, the softening of Sterling can be seen as a blessing in disguise.  It should certainly help the UK’s balance of payments.

 

 

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7 Responses to Daily Debrief Feb 24th

  1. As a Time Served Royal Marine, two things we were advised not to discuss, were, Religion and Politics. That edict came from the Higher Echolons, who now appear to have taken a Political Standpoint. Another example of don’t do as I do, but, do as I say!

  2. B Hough says:

    Not only is our prime minister passing political control of `his` country over to an unelected parliament but now our military is willing to pass control of our armed forces over to them, the public should be informed that this has been the intention of the EU from the start.
    Unfortuneatly Roger all the informative and true information of yours` that I read does not get to the `don`t knows`.
    And can I presume that items for voting on in the EU parliament are put forward by a small secret group?

    • Jane Davies says:

      I was going to ask the same thing, what is being done to counter the lies and deception being put out by the PM and his blinkered followers? As I’m across the pond I not hearing anything from those who think the UK should leave. With the exception of the news that Boris has defied his pal Dave and is voting to leave. CBC called him (Boris) the UK’s most popular politician, I nearly inhaled my glass of red!

  3. John says:

    Frank Gardner’s reply to Jo Coburn on Daily Politics (22.02) gives a balanced view of security and surveillance issues which are being hyped up at present. Respect him as a correspondent.

  4. davidbuckingham says:

    Feels as if world war three has broken out – civil war. Who needs Lord Haw Haw when we’ve got Bramall & Guthrie, Sir Peter Wall, General Dannatt and Jeremy Heywood lined up against us?

  5. colin kay says:

    Just been looking at BBCnews on teletext and on the issue it says”Downing Street later expressed regret that it had included a 13th signatory-Gen. Sir Michael Rose on the letter to the Telegraph by mistake”!!!!!So Downing Street appears to be writing letters to newspapers on behalf of top brass and hopes that no-one will cause a stir,just shows what idiots Camoron takes all for,keep up the very good work Rodger and Co.
    P.S.Loved the clip of Nigel giving it good style to Merkel and Hollande,magic.

    • Ex-expat Colin says:

      My wife just picked up on that (Rose). Its part of modern day sloppiness in the UK. Anyway, as ex military I can tell you they would be the very last group I’d listen to on this subject. It simply is not there business and is covered by NATO..and that is an organization I barely recognize…appears to be out of control.

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