Interesting article Alex. Unfortunately, immigration is always the front issue but it should not be. Currency should be the main issue in exit. There are economic reasons that immigration is difficult in the EU now. But racism should be resisted by all. And that is not always the case.

He is a market monetarist, along the lines of Scott Sumner. I have a series of articles here about the MMers. Regardless of whether one believes in their monetary solutions, which are more aggressive solutions than the Fed, they have good research and were able to understand that the NGDP cratered back in late 2007 and 2008 even as inflation targets were met by the Fed. So, inflation was fine until mid 2008, while NGDP had already begun to crumble. So, they believe that Bernanke cratered the economy by inaction, and there is some serious proof of that as I try to make their positions known.

I have come to the conclusion, which they may or may not share, that Bernanke did exactly what Andrew Mellon did in the Great Depression. He liquidated the economy over housing bubbles in 4 states! Like Mellon, he then brought the economy back, but only after much of the wealth of America had been transferred to the upper classes.

He allowed the commercial paper market to be destroyed, and along with mark to market that pretty much did in the middle class back then.

So, I don't count empire building colonization as being a good thing. You made the argument better than I could, that the UK and its minions, including the USA, did this colonization. I just don't see it as being a good thing. I don't think empire is a good thing. And I believe that the Single European State, which will do away with the pound sterling, is not a good thing for the UK at all. Lars Christensen is quite clear on this, that if you peg your currency to the Euro or become a Euro nation, you will not grow, period.

Yes, getting rid of the #Euro is key. And if that results in the EU booting Italy out, then, oh well.

It would be nice to be able to measure the increasing impact of bond use as collateral in derivatives clearinghouses. This is not all about fear and not all about risk aversion, IMO. It is more about the value of bonds as the new gold in clearing houses. But measuring that is what is needed to see how much this artificial demand for bonds is pushing yield down.

The Brits face ultimate destruction of the Pound Sterling and mandated slow growth if they go down that path. That would be foolish to allow themselves to be colonized by the very globalists who rule them. As I have written elsewhere, Viv, globalists would colonize their own grandmothers if it would help them reach their goal of global domination.

If these central banks would get out of their own way and use helicopter money to bounce off the zero bound, they could get the world going again.

So, you are saying that the colonization of the nation most responsible for world colonization is still on? The goal, Elliot, is the Single European Union. I suggest that the pound will not be currency of choice for long. Reports of its demise are available as the EU will move to Euro only currency.

The US energy sector experienced 10 dollar per barrel oil and survived and we survived. Later, many Texans didn't care when California, Florida and Arizona, pricey real estate bubble states, chaffed under the high price of oil. I remember Texans going on bulletin boards laughing at "librul" California. I don't think people will get much sympathy based on the bleeding out of Texas. That may not be the right way to look at it, and we all may be screwed by the result. But no tears for Texas.

It would be futile anyway. Once the Single European State, or Superstate, comes into being it would require the elimination of the pound sterling. That would trigger discontent and the UK, and that would show the empire trying to colonize its own citizens. I have written that globalists would colonize their grandmothers if they could.