Post-BREXIT Currency Manipulation Sank the Pound, not BREXIT, says UKIP Founder

1 1218

UKIP cofounder Godfrey Bloom said the English central bank was responsible for the drop in the pound, not BREXIT.

Speaking on Mises Weekends podcast, he called the Bank of England Governor, Mark Carney an “incompetent buffoon” for taking the drastic actions that he did after the positive BREXIT vote.

“If I was in charge I would send Mark Carney back to Canada”

This in reference to Mark Carney running the bank of Canada before his tenure in England.

Explaining why the Pound fell immediately after BREXIT.

“When the leave campaign won, Mark Carney immediately announced that he would create as much money printing as necessary and he also halved interest rates, and the chancellor of the exchequer said he would tear up and abandon all fiscal targets to pay off the national debt… who wouldn’t sell Sterling under those circumstances. This was panic at the Bank of England, nothing to do with BREXIT.”

Bloom seems to be touching on something that is spreading throughout the world; that central bankers are making a mess of our money and not helping ordinary people. Central control of the money supply is a huge departure from the free market.

Sound money with market driven interest rates is necessary to avoid the wide variations in the frequent booms and busts that we find ourselves enduring. Ultimately caused by failed Keynsian ideas of yesteryear.

We are currently in a massive boom, but we caution our readers because, what’s coming next is not going to be pretty. It will be a massive bust, worse then what we saw in 2008.

One major way to avoid the destruction of your wealth is to pull it outside your countries own manipulated currency and buy gold or even Bitcoin with it. Bitcoin has been on a terror lately, largely due to people around the world wanting to secure and privatize their wealth.

Speaking about NATO and Canada’s role in it, Bloom believes the organization should be ended. It is doing more harm now than good. It served it’s purpose during the Cold War but it’s now driving a wedge between Russia and the west that doesn’t need to exist.

“Nato has moved Canadian troops into Latvia. What on earth Latvia has to do with Canadians is beyond me. Nato is now the threat, it is no longer the shield, it’s a very dangerous concept and its expanding right up to the Russian border”, said Godfrey Bloom.

Bloom is a libertarian politician and businessman and one of the founding members of UKIP and inspirational in the Brexit movement. He is a big promoter of the ideas of liberty and of free market capitalism.

His view is the same as ours, that governments are doing more damage to ordinary citizens then they are doing good. We need limited governments, totally free markets, end the welfare and warfare state and let people spend their money how they feel fit, rather then how their leaders feel fit. 

These sorts of ideas would lead to a tremendous amount of economic growth and would absolutely shrink the wage gap between rich and poor since taxes generally only hurt the poor more then anyone else.

Sadly, ideas coming from globalists on the left involve more government and more control of our lives which always means less freedom for individuals, and smaller bank accounts for nearly everyone except the uber rich.

Related Articles

Comments