British Mainstream Media is at pains to persuade a credulous public that the sharp rise in the FTSE, in equally sharp inverse relation to the dramatic fall in Sterling is due to the boost to British business from increased sales and repatriation of earnings abroad boosting their revenue. What nonsense! There is however, a logical answer.
With the sharp fall in the pound, it seems almost self-evident that speculators having vast sums to speculate with, may believe that, temporary or not, the low Sterling provides a good opportunity to swoop on British capital. In the expectation of a recovery of Sterling the stock market seems a good place to park cheap Sterling in the meantime, but absent the expected recovery an equilibration of the international price of British capital with a prolonged low in Sterling could in any case, only be upward.
The world’s billionaire manipulators have long exploited the irrationality of tying the value of both consumer goods and capital to a common market index (i.e. the currency exchange rate). This has been a basic tool for establishing dominant foreign ownership of Australia’s capital, which has been in turn, an essential pillar of the process of incapacitating the political power of its people. A pillar alongside foreign control of the nation’s media – enthusiastically aided and abetted by the treacherous, treasonous Rupert Murdoch; a third pillar being foreign ownership and control of the nation’s corrupt politicians and union leaders.
It’s quite understandable that most people, whose education has been hand-selected by their ‘betters’ in order to leave them utterly naïve to all matters money other than basic arithmetic, should not understand the difference between assets and consumer goods. No doubt the charlatans of that pseudo-science of Economics understand it, but their job is concocting pseudo-rationale intended for public consumption that provides justification, the likes of ‘trickle-down theory”, for outrageously unfair government policies that prejudice against the interests of working people in favour of wealth, not enlightening the masses. However, the bald absence of any strategy at all in any government system in the Western World, that addresses or even attempts to address this problem suggests that many government leaders actually do fail to understand it.
But there is a solution.
Governments are now in a position to mandate that shares may only be traded in their stock-markets using an electronic fiat currency specifically defined for the purpose. Any individual or company wishing to trade shares must first buy the required share-trading currency. Reserve funds of this fiat currency held by traders would buffer the stock markets preventing ‘flash crashes’ and funding administration of the system.
By pinning the value of this fiat currency to a derivative calculation based on share price indices and the spread of international currencies it could be contrived to stabilise the share market against fluctuations of international fortunes and the intrigues of speculators and market manipulators.
Most importantly, the fluctuations of the national consumer trading currency could be left to the international market confined to the world of consumer goods and commodities trading without entanglement or impact on the value of the nation’s assets. Britain’s assets, Post-Brexit-vote-Pre-Brexit, are firmly bogged down in the mire of consumer goods trading and at the mercy of speculators and manipulators who have the audacity to speak of ‘punishing voters’.
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|Allen L. Jasson|
|William John Cox|