Posts Tagged ‘Hedge Funds’

‘I’ Newspaper: Hard Brexit Could Raise Food Bills by £50

March 13, 2020

Here’s a piece of information that the Tories really don’t want you to know. According to the article ‘Family food bills could rise by up to £50 a week’ by Tom Bawden in Tuesday’s edition of the I, for 10th March 2020, this could be a result of the hard Brexit Boris and his cronies seem to be aiming at. The article runs

A hard Brexit could cost a family of four more than £50 a week more in food bills, with meat, dairy and jam rising most in price, a study has found.

Researchers looked at the effect of leaving the EU with no trade deal and calculated it would push the weekly food shop up by between £20.98 and £50.98.

The increases would come from hefty tariffs on imports and the cost of increased border checks on food coming into the country. A hard Brexit is also expected to push down the value of the pound.

By contrast, a soft Brexit with a comprehensive trade deal would push the food bill up by a much smaller amount – of between £5.80 and £18.17 a week, according to a new study by the University of Warwick, published in the journal BMJ Open.

While a hard Brexit would put considerable extra financial pressure on most British households the impact on poorer households would be far worse.

“Food security in the UK is a topical issue. Over the last five years food bank use has increased by 73 per cent, and this could increase for families who are unable to absorb these increased costs. There could also be reductions in diet quality leading to long-term health problems, ” said Martine Barons, of the University of Warwick.

The research suggested that the price of tea, coffee and cocoa which are typically imported from outside Europe will be least affected by Brexit.

In October, Michael Gove admitted that at least some prices could go up. “Some prices may go up. Other prices will come down,” he told BBC’s Andrew Marr Show.

So more people are going to starve and be forced onto the streets so that Boris, Rees-Mogg and the hedge funds that currently back the Tory party can become even richer. And I’ve seen absolutely no evidence that food prices are going to come down, as Gove says. Though this should surprise no-one: Gove and the Tories are the party of greedy liars.

But don’t worry – Brexit means we’re taking back control. Right up until the moment this country, its health service, industry and farming are bought up by Boris’ friend Trump.

Private Eye Attacks Hypocrisy of Non-Dom Tax Dodging Press Barons

January 29, 2020

Five years ago in 2015 the then leader of the Labour Party, Ed Miliband, outraged the press barons in Fleet Street by suggesting the abolition of non-dom tax status for people actually living in the UK. This frightened them, as many of them, such as Evgeny Lebedev, the owner of the I and Evening Standard, David and Frederick Barclay, the weirdo owners of the Torygraph, and Heil owner Viscount Rothermere, also avoid paying British tax through non-dom status. There was therefore a flurry of articles in their papers scorning Miliband’s suggestion and declaring that if it came in, it would bankrupt Britain by forcing all the millionaires in London and elsewhere to flee the country. And the papers certainly did not tell their readers that there was more than a bit of self-interest behind their attacks on Miliband.

Private Eye, which, according to editor Ian Hislop, skewers humbug, therefore published an article in their ‘In the Back’ section, ‘Street of Sham’ in the issue for 17th to 30th April 2015 attacking this fine display of gross hypocrisy. The piece ran

So consuming was the Tory press’s rage at Ed Milibands’s plan to make Russian oligarchs and gulf petro-billionaires in London liable for the same taxes as British citizens, its hacks forgot to declare their interest.

“London backlash over Ed’s non-dom attack,” boomed the front-page of the London Evening Standard, as if a mob had descended on Labour HQ to defend London’s much-loved oligarchs and hedge-fund managers. “Attacking non-doms could backfire on us,” continued an editorial inside. Sarah Sands, the Standard’s Uriah Heepish editor, did not risk her career by saying who the “us” included – namely her boss, Standard proprietor Evgeny Lebedev, the Russian who last year dodged the Eye’s repeated questions over his own domicile.

Silence infected the Telegraph too, where not one of the reporters who warned that Labour’s “cataclysmic” decision would drive away “tens of thousands of entrepreneurs and business leaders” mentioned that their owners, the weirdo Barclay twins, reside in Monaco and the Channel Islands to avoid British tax.

Instead they quoted James Hender, head of private wealth at Saffery Champness accountants, who warned that the rich may leave. The Telegraph didn’t tell its readers that Hender boasts of his long experience ensuring that “the most tax efficient strategies are adopted for non-UK situs assets” for his non-dom clients.

It was the same at the Mail, which failed to declare that its owner, 4th Viscount Rothermere, is treated by the tax authorities as a non-dom. And at Sky, political editor Faisal Islam reported that “Baltic Exchange boss Jeremy Penn slams Labour non-dom plans” without declaring that his owner, Rupert Murdoch, does not pay UK tax and that Penn acts for super-rich shipping owners.

Jolyon Maugham QC, who has advised Labour and the Tories on tax reform, tells the Eye that any reader silly enough to believe the Tory press and tax avoidance industry should look at what they said in 2008, when Labour introduced the first levies on non-doms.

Back then the Mail then said the central London property market would crash as non-doms sold up and moved to Switzerland. In fact, between Labour introducing the levy and 2014, prime central London property prices rose 41 percent. At the end of 2014, Knightsbridge estate agent W.A. Ellis said 54 percent of sales were to overseas buyers.

The Mail was equally certain the City would suffer. On 8 February 2008 it cried that the levy “risks the City’s future”. The British Banking Association warned of “a devastating blow”. The Telegraph of 12 February 2008 said that “the country’s wealthiest individuals are being bombarded with leaflets and letters explaining how easy it would be to relocate to Switzerland, Monaco and a host of other countries”. Not to be outdone, Mike Warburton, senior tax partner at accountants Grant Thornton, said the levy was the “final straw”.

If a word of this had been true, there would be no non-doms left for Milband to tax. As it is, there are 115,000 because, as Maugham says, London remains a “very nice place to live, if you’re wealthy. And that won’t change.” Or as the Financial Times put it: “The many advantages of London as a financial centre do not dissolve simply because of a change in a hitherto generous tax treatment of resident non-domiciles.”

The pink ‘un has only recently realised the iniquity of the non-dom rule, with an editorial last month calling for its abolition. Editor Lionel Barber modestly claims some credit for Miliband’s stance. But as editor for almost a decade, why was he so late to the party? Surely not because, until 2013, FT owner Pearson was run by US-born Dame Marjorie Scardino, who would certainly have qualified for non-dom status and whose London flat, the Eye revealed, was owned via an offshore company?

The Daily Mail’s owner, Lord Rothermere, is a particularly flagrant tax dodger in this regarded. The current Rothermere inherited the status from his father, who really was not resident in the UK. He lived in Paris. But Rothermere junior appears very much to have made Britain his permanent or at least primary residence. He has a parking space in London, and the Eye reported a few years ago he was extensively renovating his stately home in the West Country.

The non-dom tax status, offshore banking and other ways used by the corporate and super rich to avoid tax are part of the reason for the increasing impoverishment of everyone else. They aren’t paying their fair share of the tax burden, but receiving massive tax handouts instead. Thus the NHS and other important services are deprived of money. The tax burden is then passed onto ordinary, working people. This reduction in taxes for the rich used to be justified under Thatcher with the argument that the money the rich saved would somehow trickle down to the rest of us. This hasn’t worked. It doesn’t encourage the rich to open any more businesses or employ more people. The money just sits in their accounts earning more interest.

It also doesn’t the rich closing businesses and laying people off either. This was shown a year or so ago in America, when one of the corporate recipients of the Republicans’ tax cuts closed a branch or a factory, laying hundreds of workers off.

And the purchase of London property by foreigners is also a further cause of poverty. Ordinary people in the Smoke can’t afford to buy homes as rich foreigners – not asylum seekers or migrants – push property prices up far out of their reach. Some of these homes are simply left empty as an investment in what is known as ‘land banking’. This has a knock-on effect for the rest of the UK. Here in Bristol property prices have also risen to extremely highly levels through Londoners forced out of the capital relocating to the city. And in turn, some Bristolians are looking for cheaper homes elsewhere in places like Wales.

London still is a ‘very nice place to live, if you’re wealthy’, but the tax cuts which make Britain so comfortable for the global rich are causing poverty, misery and homelessness for everyone else.

And this is applauded and cheered by hypocritical press magnates and editors.

Barnier Recording Shows Johnson Will Not Get Brexit Done Next Year

December 14, 2019

It looks like all those, who voted Tory believing that Boris really will ‘get Brexit done’ are in for a very rude disappointment. Thursday’s I carried a story that a recording of the EU’s chief negotiator, Michel Barnier, shows him stating that a proper deal with EU will take longer than the 11 months anticipated by our buffoonish, lying Prime Minister. The report by Hugo Gye ran

Boris Johnson won’t be able to get a Brexit trade deal by the end of next year, the EU’s chief negotiator says.

Michel Barnier was caught on tape telling diplomats that 11 months would not be long enough to strike a comprehensive free-trade agreement between Britain and Europe. He predicted that the only deal possible would be a bare-bones “vital minimum” arrangement.

Mr Johnson’s opponents claimed the recording proves he is lying about Brexit – but the Tories insisted Mr Barnier will be proved wrong.

If the Prime Minister is re-elected, he has promised Britain will leave the EU on 31 January and enter a transition period ending on 31 December, 2020. He has vowed not to extend that period even if there is no trade deal in place.

In a recording published by The Independent, Mr Barnier could be heard saying: “We will not get everything done in 11 months. It is unrealistic.” He said that a “cliff-edge” Brexit was still possible if a stripped back deal was not agreed.

Labour’s campaign chief, Andrew Gwynne, said a cliff-edge no-deal was “exactly what he [Johnson] wants so he can drive the UK into a toxic trade deal with Donald Trump and put the NHS up for sale”.

A Tory spokesman responded: “Barnier also said the Withdrawal Agreement couldn’t be reopened”. 

Perhaps when the supposed transition period fails to end, some of the people who voted for the Conservatives because of Brexit might realise how they’ve been fooled, just like the British public’s been fooled before. But on the other hand, you can depend that the Tories and their compliant press will frame this as all the EU’s fault, and try to promote a no-deal Brexit as the best thing that’s ever happened for Britain.

Which it will be for the hedge funds supporting the Tories and banking on Britain’s economic collapse.

Before You Vote Tory, Think: Can You Afford £50 for Medicine? Or £50,000 for an Operation

December 4, 2019

Corbyn’s factual statement that the Tories are considering selling off the NHS to the Americans clearly has got both them and Trump rattled. The Sun’s headline today followed in that wretched rag’s long, ignoble tradition of deceit. It denied furiously that the NHS was for sale, and that Trumped had definitively refuted it. In fact it shouted that he had ‘thumped’ Corbyn ‘the chump’. In fact he hadn’t. Zelo Street has produced a devastating refutation of its own, which demolishes the Scum’s lies. It quotes Trump and his wretched UK ambassador, Woody Johnson, who both side that they wanted the NHS on the table. As well as a report from Sky, which also said they did.

The piece concludes

‘Tory cheerleaders can stamp their feet and cat-call all they want. Trump has already said that the NHS would be on the table in future trade talks. No amount of propagandist knocking copy can change that. Nor can it make Bozo The Clown a competent PM.

The Murdoch mafiosi is now beyond desperate. But you knew that anyway.’

See: https://zelo-street.blogspot.com/2019/12/bozo-and-trump-nhs-denial-busted.html

The Scum would lie about this, as recent biographies of Murdoch have shown that he, as well as the Tories and Trump, want the NHS privatised.

To anyone considering voting Tory anyway, I strongly advise you to think. I’ve friends, who have trained in medicine. And they told me the real price of what some services we so far get free or at least cheap, would cost if we had to pay for them if the NHS was privatised. Some prescription cough medicines actually cost as much as £50, or so I’ve heard. And an operation can cost £30-50,000. These are the kinds of prices you would expect to pay if the Tories, Trump and Murdoch have their way and privatise the NHS, following long-term plans that started with Thatcher.

The leading cause of bankruptcy in America is medical debt. About 40,000 people die every year because they cannot afford proper treatment. In Virginia, people wait overnight in their cars for that one weekend every month when dental treatment is available free. And in some areas people are so poor that they are forced to hoard medicine or get animal medicines from the vets’.

This is what you would get here, if the Tories, Trump, and their backers in private medicine, private equity firms and hedge funds get their way.

We cannot let that happen.

Vote Corbyn to keep the NHS nationalised and free from charges.

 

‘I’ Newspaper: Tories Selling Off Mental Health care to Americans

December 3, 2019

And it’s a disaster.

This is another story from yesterday’s I, this time written by Ian Birrell. It’s titled ‘NHYS for sale? Our mental health services are’ with the subtitle ‘Fatcat US operators already have their claws into our psychiatric services’. It’s a comprehensive discussion how big American private medical companies are acquiring British healthcare companies and NHS contracts, and how patients are suffering through the deplorably bad care they provide.

Birrell begins with Jeremy Corbyn’s statement last week that the documents of the negotiations between Trump and Johnson showed that the NHS were being sold off to private American companies. Birrell denied this, and instead stated that not even Boris would dare sell off the NHS went it is so highly valued by the British public. He then moved on to the strenuous denials by the Tories that they were planning any such thing, before attacking them in turn as lies when it came to mental health. He wrote

Yet hang on a second. One key slice of the NHS is already lying in a distressed state on the operating table, where it has been chopped up for profit-hungry private firms. And giant US health corporations, along with hedge funds and private equity firms, are already here and bleeding dry this profitable of the corner of the NHS – with often disastrous consequences for some of our most desperate patients. Sadly, no one seems to care much since it is “only” the mental health sector – for so long the neglected Cinderella service.

Yet in recent years a small cluster of fatcats have got their claws into Britain’s psychiatric services, exploiting the struggles of the health service to cope with surging demand. These operators have grabbed nearly £2bn of business, providing almost one quarter of NHS mental health beds and soaking up close to half the total spend on child and adolescent mental health services.

This means they own many NHS-funded units holding people, such as teenage girls who self-harm and adults with suicidal thoughts, along with hundreds of people with autism and learning disabilities scandalously locked up due to lack of support in their local communities. These firms benefit as overloaded mental health services and risk-averse officials send more and more troubled citizens into secure units. It is a lucrative business when it costs up to £730,000 per patient a year. Bosses can pocket millions – but many frontline workers earn little more than minimum wage and the use of agency staff is routine, despite the need to develop patient relationships.

Acadia, a Tennessee-based health giant, spent £1.3bn buying the Priory Group and now boasts of earning more than £188m in just three months from British public services. “Demand for independent-sector beds has grown significantly as a result of the NHS reducing its bed capacity and increasing hospitalisation rates,” said its last annual report.

Operating profits at Cygnet, owned by another huge US firm, have surged to £45.2m due to deals with 228 NHS purchasing bodies after it bought a rival group last year. Another outfit called Elysium, backed by private equity through a Luxembourg firm, only launched three years ago, but is already earning revenues of £62.2m from at least 55 units.

But a study by the Rightful Lives campaign group has found these three firms alone own 13 of the 16 mental health settings judged “inadequate” by the Care Quality Commission watchdog, since it found some teeth after the furore over abusive detention of people with autism and learning disabilities exploded a year ago. Cygnet runs eight of these “inadequate” units, although its US boss is reportedly the richest chief executive in the hospital industry, who collected more than £39m in one year from pay, bonuses and stock. Priory and Cygnet also owned hospitals exposed by disturbing undercover television documentaries over the past year.

I have heard a stream of horror stories from despairing families and former patients involving solitary confinement, forcible injections, abuse and overuse of restraint, during investigations into this area. Some were detained in NHS psychiatric units. But most involve privately run units. People such as Megan, who was sectioned for self-harm, suicidal thoughts and later found to be suffering post-traumatic stress from childhood traumas. She was in four clinics – but in one run by the Priory, aged just 16, she was even held stark naked for one month to prevent self-harm until her parents delivered a “safe suit”. “It was the most degrading time of my life,” she told me. The firm was fined £300,000 earlier this year for failings after the suicide of a 14-year-old girl at the same unit.

Despite the ample demonstration that private healthcare doesn’t work and is just simple profiteering, Birrell is at pains to say that he has nothing against the involvement of the private sector in state healthcare. He just wants it to be better regulated. He ends his piece with these two paragraphs

Unlike many voters, I have no problems with private providers in healthcare if the service remains free at the point of use, especially after seeing their role in European systems with superior patient outcomes to our own health service. But seeing these mental-health firms has shaken my faith.

Clearly all private operators need to be effectively regulated, especially when providing sensitive frontline services. Sadly, it seems our politicians on all sides prefer to posture over whether the NHS is really for sale to “mega-corporations” while ignoring those that have already arrived and are pocketing vast sums while offering inadequate services to so many despairing citizens. Once again, we see how little Westminster really cares.

Actually, I think these paragraphs say much about the I and the political ‘centrism’ it supports. The NHS has been privatised piecemeal since the days of Thatcher, who was prevented from privatising it outright by a cabinet revolt. Blair’s government did much to hand it over to private firms, though much had already been done in this direction by the Private Finance Initiative introduced by the Tories and Peter Lilley. The Conservatives haven’t reversed the policy of privatisation, and are instead ramping it up even further.

The result is massively poor performance. Jacky Davis and Ray Tallis argue very strongly in their book on the privatisation of the NHS, NHS-SOS, that on their own private healthcare can’t compete with state. The service provided will always be inferior, as the profit-motive doesn’t work when it comes to the long-term sick or those with acute conditions. Private hospitals have fewer beds than state hospitals. And those who cannot afford healthcare are simply left to sicken and die. A few years ago the private healthcare system in America nearly collapsed. It’s why the American healthcare giants are so keen to acquire pieces of ours.

Yes, continental healthcare which often does involve the private sector can perform better than ours. But that’s because our National Health Service has always received comparatively less funding than theirs. It’s been the case, sadly, since the NHS was set up. On the other hand, our healthcare results are far, far better than Americas and were comparable to those on the continent. Until the Tories took over, and decided to cut things back and privatise even more.

But Birrell cannot criticise private medicine, because privatisation is still part of ‘Centrist’ political dogma. Moreover, the press is now owned by immensely rich men, often with commercial interests in other sectors of the economy. As a result, the supposedly liberal I and Guardian continue to flog Centrist economics even though these are so well-past their sale-by date that they’ve been dubbed ‘zombie economics’.

As for Corbyn, I believe very strong that rather than playing political football with the issue of NHS privatisation, he’s very aware of what’s going on and how it is failing Britain’s sick and ill. That’s why he wants to end it and renationalise the NHS. Birrell tries desperately to avoid that conclusion, because like all Centrists he wants the NHS privatisation to continue thanks to the Thatcherite dogma he’s imbibed and promotes.

But Thatcherism has had its day. It is bringing nothing but misery, deprivation and death. It’s time the Tories were out, Jeremy Corbyn was in, and the NHS renationalised. 

Now!

£70 Bn Black Hole in Tory Spending Pledges

November 28, 2019

Despite all the Tory bluster, as Mike has pointed out Labour’s spending plans are properly costed and have the support of 163 leading economists. They have sent a letter to the Independent stating their support, saying

It seems clear to us that the Labour party has not only understood the deep problems we face, but has devised serious proposals for dealing with them.

We believe it deserves to form the next government.

Labour spending plans are backed by leading economists

The Tories, however, have always claimed that they are the party of proper fiscal responsibility, who truly understand economics. In contrast to profligate, spendthrift Labour, they can be trusted with wise, frugal expenditure.

So how do their manifesto pledges stand up?

Not well. According to an article in Tuesday’s I, they’ve got a black hole to the tune of £ 70 bn in theirs.

The article by Hugo Gye reads

The Conservatives face a £70bn black hole in their spending plans after making a string of manifesto promises without explaining how to pay for them.

Boris Johnson has pledged to build dozens of hospitals, create a new rail network and set up a hi-tech “gigafactory” to make electric cars. He is also promising national insurance cuts, a new system of social care and relief for indebted students. None of his policies is costed in the party manifesto revealed on Sunday. They add up to £52.2bn in added capital investment, and an extra £20.6bn on the annual bill for day-to-day spending, according to figures calculated by I.

The Conservative manifesto proposed a rise in day-to-day spending of £2.9 bn as well as £3.6bn in tax cuts. But it also contained a number of policies with no price tag attached.

The biggest is Northern Powerhouse Rail, a new network linking Liverpool to Hull via Manchester and Leeds, which will cost £39 bhn. Other promised capital projects not costed by the manifesto include building 40 new hospitals and the construction of a gigafactory to make eco-friendly vehicles.

Tory sources said future investment plans would be funded by a £100 bn pot of capital expenditure, only £22 bn of which has so far been allocated to specific projects. The shadow Chancellor John McDonnell said, “With no evidence behind any of their figures, it looks like the Conservatives’ fake news approach applies to their manifesto too.”

The deputy Liberal Democrat leader, Ed Davey, added: “Boris Johnson’s relationship with numbers has all the hallmarks of his relationship with the truth – nonexistent.”

That’s precisely how it seems to me.

The fact that these pledges are not costed suggests very strongly to me that, like his promise to build 40 new hospitals, they’re lies. The Tories have no intention of honouring them. They’re only interested in slashing welfare spending and privatising the NHS and anything else they can get their hands on for the benefit of their rich corporate donors, Donald Trump and the American private healthcare industry, and the hedge funds. And they are going to wreck this country to do so.

Don’t be fooled by them. Labour really stands for restoring the welfare state, public infrastructure and the NHS. And it’s all properly costed.

They are the party of economic sense. Not the loony, lying Tories.

Don’t Believe the Media Propaganda: Tory Lead in Polls Is Falling

November 28, 2019

Mike has put up a very informative piece contradicting today’s latest piece of media propaganda about Tory popularity. According to today’s I and a number of other papers, a polling company has predicted that the Tories will get a 68 seat majority in the Commons at the coming election. This apparently comes from a company that got the result of the 2017 election right.

But Mike notes that the information used as the basis for the poll is dated. And an analysis of the Tories election strategy by Dr Moderate has shown that they moved from offence to defence. They’ve shifted from targeting Labour seats with large majorities to ultra-marginals and trying to defend Tory seats. And Mike’s article also notes that Johnson’s own behaviour hardly demonstrates the calm confidence with which their supporters are trying to impress us. Johnson is showing his made of the kind of mettle Tweezer was: he’s running scared, and running away from tough interviews. Andrew Neil interviewed the Labour leader last week, and was supposed to give Boris the same kind of grilling he dished out to Corbyn. But this ain’t happening, folks. Johnson has scarpered. He is also not going to appear on Channel 4’s election leaders’ debate today on the climate crisis. And he isn’t going to attend the Beeb’s 7-way leaders’ debate tomorrow, though Corbyn won’t either.

Mike comments

It seems the cowardly Johnson is afraid that he may face questioning over his own sexism, racism and attempts to spread Islamophobia, the many lies he has told – including to the Queen, and perhaps about his alleged financial connections with Russian money and with hedge fund bosses who apparently supported his bid to become Tory leader in return for a “no deal” Brexit.

It seems Boris was originally going to be represented at the debate by Dominic Raab. But Raab isn’t going to be there. He’s been replaced instead by Chief Secretary to the Treasury Rishi Sunak. Raab has some questions to answer himself, as he deliberately excluded the family of Harry Dunn, the teenager allegedly killed by Anne Sacoolas at a constituency hustings.

And the polls over the past few weeks have also been all over the place. For example, on Monday, 25th November 2019, the I carried a story by their political editor, Nigel Morris, that the Observer had published a poll at the weekend stating that the Tories had a 19 point lead over Labour. Their popularity was at 47 per cent, while Labours was at 28 per cent. Other polls, the article said, had given the Tories leads of 13, 12, 11, and 10 points. And the article opened by claiming that polls showed that the Conservatives had an average lead of 12-13 points.

Which is interesting, as I seem to remember that a week before that, the papers, including the I, had been yelling that the Tories had a 20 point lead.  

And the Tory lead in the polls seems to have fallen still further. The following day, Tuesday, 26th November 2019, another article by Morris revealed that after the publication of the Labour manifesto the Tories’ lead fell to just 7 points. The new poll findings placed the Tories on 41 per cent and Labour on 34 per cent.

And Dr Moderate in his Twitter analysis has noted that Labour’s polling has increased by 4.3 per cent. This is despite the Tories launching their own manifesto and trying to revive the anti-Semitism smear campaign.

Mike concludes his article with

Support for Labour is increasing day by day and Tory attempts to stop it have failed.

But the Tory-supporting media, including the BBC, are telling you the opposite at a time when the law says they must be impartial.

Never mind the polls – the Tories are terrified and Boris Johnson is running away from scrutiny

Quite. The trend for Labour in the polls is upward. And the Tory press and media are terrified of people being inspired by it.

 

JOE Spoof Video: Jacob Rees-Mogg Sings ‘Monster Crash’

November 4, 2019

It was Halloween last Friday, and those merry funsters over at JOE released another of their spoof videos to celebrate. This consisted of edited footage of the young master, Jacob Rees-Mogg, singing a parody of the old hit, ‘Monster Mash’. Mogg and Johnson both have financial interests in Britain suffering an economic catastrophe thanks to Brexit. With Mogg, it’s personal through his own financial interests, while Johnson is supported by Hedge Funds, which have been shorting British companies and gambling on Brexit devastating our economy.

The video begins with Rees-Mogg singing

I was counting my money

Late one night

When my eyes beheld

A most frightful sight

There’s only £55 million

In my account

So I hatched a plan

To get a larger amount.

Then BoJob comes in with

‘Let’s cause a crash.’

Rees-Mogg: We’ll cause a monster crash.

BoJob: A monster crash.

Rees-Mogg: Let’s make loads of cash.

BoJob: A monster crash.

Rees-Mogg: Get filthy rich in a flash.

BoJob: A monster crash.

Rees-Mogg: And I’ll increase my stash.

I’ve got a great big mansion

In the rural southwest

An ancestral home, and a London address.

I’ve a hedge fund company,

Money offshore,

But it’s just not enough,

I still want more.

BoJob: Let’s cause a crash.

Rees-Mogg: We’ll cause a monster crash.

BoJob: A monster crash.

Rees-Mogg: Let’s make loads of cash.

BoJob: A monster crash.

Rees-Mogg: Get filthy rich in a flash.

BoJob: A monster crash.

Rees-Mogg: And I’ll increase my stash.

Back to BoJob: Let’s cause a crash.

And as they continue singing the refrain, there are shots of Rees-Mogg as Dracula, fleeing a victim wielding the EU flag like a cross, Michael Gove as the Mummy, Boris Johnson as Frankenstein’s Monster, and Iain Duncan Smith as Nosferatu.

The last scene is of a hand thrust up from a grave market ‘Margaret Thatcher’.

Ooooh! Spooky!

 

 

More from Private Eye on BoJob’s Connections to the Hedge Funds

October 6, 2019

I’ve found a few more little snippets from Private Eye about how Boris is being funded by hedge funds, the financial speculators looking forward to a no deal Brexit, as they’ll clean up when the country and its businesses go bust. In their issue for 14th-27th June 2019, the Eye ran an article, ‘Backing Boris’, about how Boris’  campaign to be selected leader of the Tory party was being funded by Jon Wood, another hedge fund manager. The article, on page 7 of the magazine, ran

The launch video for Boris Johnson’s leadership campaign was full of soft “Cameroon” social messages, fretting that “too many people feel left behind” and excluded from “opportunity and success”. Odd, then, that his largest financial backer seems keener for the government to look out for the big guy.

Hedge-fund manager Jon Wood gave Johnson £25,000 in May, according to the latest register of MPs’ interests. (He had already given the former foreign secretary a £50,000 donation for “office and staffing costs” in October). His hedge fund, SRM Global, was a major investor in Northern Rock, the bank that collapsed in the financial crisis and was nationalised by the Labour government in 2008. Shareholders like Wood’s firm got nothing: the government judged it had made a bad bet.

Wood’s company argued, however, that it had a human right to compensation for its bad investment, and took the government to the high court and then to the European court of human rights. In 2012, the latter rejected the laughable claim brought by SRM Global and other investors, calling it “manifestly ill-founded and therefore inadmissible”.

The court said the government was quite right to take over the bank but not to compensate the big investors. There was “no duty owed by the State to the shareholders to protect their investments in Northern Rock”. That Johnson’s biggest backer is a man with experience of “manifestly ill-founded claims” is perhaps, er, no surprise.

The edition for the 26th July – 8th August carried another such story on page 7, ‘Fine By Them’, reporting how Johnson was being funded by a private equity boss, who had been an officer in the Vote Leave campaign. The article ran

Why should breaching electoral law stand in the way of becoming key backer to the favourite in the prime ministerial race?

Boris Johnson certainly saw no problem as he accepted £100,000 for his leadership bid, declared last week, from private equity boss Jon Moynihan. The hard Brexit-favouring businessman also happens to have been finance director of the official Vote Leave 2016 referendum campaign. That’s the same Vote Leave that was fined £61,000 by the Electoral Commission for breaching campaign spending limits by channelling large sums to young Darren Grimes’ BeLeave youth group (Eyes passim).

The 25-year-old “BeLeaver”, meanwhile, was jubilant last week after he successfully challenged his £20,000 fine from the commission, incurred for acting as a funnel for the over-spend. The judge, who upheld Grimes’ appeal said that even if the wee scamp had committed an offence, it wouldn’t have justified fining him £20,000, the maximum allowed.

While Darren basks in congratulations from Vote Leave pals, less attention has been paid to the main Vote Leave appeal against its £61,0000 fine. This appeal has been quietly dropped, with Vote Leave admitting defeat and covering the Electoral Commission’s legal costs, footing a £200,000 bill.

The Electoral Commission itself now looks embattled on all sides, with both Leavers and Remainers furious over its handling of the 2016 referendum, and with all major parties irate at past fines for election spending irregularities. Defenders of the agency argue that if it’s annoying everyone, it must be doing something right.

Our boorish, anti-democratic joke of a prime minister is being funded by financial speculators, who are determined to have Brexit, and have not been above breaking the law to make sure they get it. And they stand to make millions from the misery it will cause if their puppet, Johnson, does manage to deliver it.

Get them out of politics – get him out of No. 10!

BoJob States He Is Prepared to Break Law For Brexit

October 4, 2019

Yesterday Mike put up the ominous news that BoJob has confirmed in parliament that he would break the Benn Act in order to bring about a no-deal Brexit. Mike comments that this seems to confirm that he is indeed in the pocket of financial speculators, who stand to make billions from the economic and social chaos and misery that would result. Jeremy Corbyn and the SNP have also made it clear that they will not support Johnson’s new attempt at a deal with the EU. It appears that they only course left open is a vote of No Confidence, followed by a caretaker government led by Corbyn. If that fails, Mike speculates that John Bercow may seek to delay Brexit again in preparation for a general election. Mike goes on to wonder if Johnson actually wants that, as well as the Lib Dems, who seem to be ready to support the Tories back into power once again. He concludes

Perhaps he thinks the Brexit-supporting public will put him back into Number 10 with a majority.

But after a series of failed attempts at Brexit, is anybody really stupid enough to think he has anything to offer us?

WATCH: Johnson confirms he’s ready to break the law to leave the EU without a deal

By stating plainly that he is prepared to break the law to get the Brexit he and his backers want, Johnson has made it blatantly clear that he is not fit to be prime minister. While I’ve no doubt his toadies and lackeys in the right-wing press would try to claim that this would be the action of a strong prime minister against a weak, divided and traitorous parliament – and where would we have heard that kind of rhetoric before? Oh yes, Nazi Germany and Fascist Italy – it’s the actions of an autocrat. We have such laws binding the powers of prime ministers and the head of state because we have constitutional government. It’s evolved over centuries through turmoil and revolution to protect British people, their liberty and property, from arbitrary, tyrannical government. That’s it’s point. Johnson and his supporters are willing to break that. It puts the lie to the old Tory claim that they represent democracy and the British constitution. In reality, as this shows abundantly, they are increasingly keen on autocratic one-man rule, with BoJob as the new Duce or Fuhrer.

If BoJob does violate the Benn Act, then I believe that he should be arrested and impeached as a clear and present threat to democracy. Perhaps we could put him and his supporters in the internment camp the right-wing forces plotting a coup in the 1970s wanted to put Harold Wilson, trade unionists and left-wing activists and journalists.