Fri, 23rd June 2017

Anirudh Sethi Report


Archives of “gordon brown” Tag

Tony Blair leaves door open to second referendum on EU membership

Former British prime minister Tony Blair has hinted at his support to have a second referendum if a “significant part” of those who voted for Brexit change their mind.

Speaking to launch his campaign to “persuade” people not to leave the EU, Mr Blair said:

If a significant part of that 52 per cent show real change of mind, however you measure it, we should have the opportunity to reconsider the decision.

Whether you do it through another referendum, or another method, that’s a second order question.

The former leader of the Labour party also invoked the “propensity for revolt” seen across the developed to call on pro-EU supporters to convince people who “voted without knowledge of the true terms of Brexit”.

Mr Blair said he wanted to “strengthen the hand of the MPs who are with us and let those against know they have serious opposition to Brexit At Any Cost”, adding:

This is not the time for retreat, indifference or despair; but the time to rise up in defence of what we believe – calmly, patiently, winning the argument by the force of argument; but without fear and with the conviction we act in the true interests of Britain.

Labour’s Left Teaming Up With Varoufakis to Keep UK in Europe

On Saturday, in a day-long event at the UCL Institute of Education in London, Varoufakis, Shadow Chancellor John McDonnell, Labour MP Clive Lewis and the leadership of grassroots pro-Jeremy Corbyn movement Momentum spoke in favor of staying and changing the EU from within.

Together with other politicians, activists and organizations, they united under the aegis of pro-stay group Another Europe is Possible, just days after a cross-party parliamentary committee accused both official campaigns — pro-Brexit Vote Leave and pro-remain Stronger In— of misleading voters.

“Both the Remain and the Leave official campaigns are infantilising voters, showing statistics that are not worth the paper they are printed on, and polarizing voters,” Varoufakis said in his speech.

Former Greek finance minister Yanis Varoufakis
Former Greek finance minister Yanis Varoufakis

A new Gold Standard is being born

READITThe world is moving step by step towards a de facto Gold Standard, without any meetings of G20 leaders to announce the idea or bless the project.

Some readers will already have seen the GFMS Gold Survey for 2012 which reported that central banks around the world bought more bullion last year in terms of tonnage than at any time in almost half a century.

They added a net 536 tonnes in 2012 as they diversified fresh reserves away from the four fiat suspects: dollar, euro, sterling, and yen.

The Washington Accord, where Britain, Spain, Holland, South Africa, Switzerland, and others sold a chunk of their gold each year, already seems another era – the Gordon Brown era, you might call it.

That was the illusionary period when investors thought the euro would take its place as the twin pillar of a new G2 condominium alongside the dollar. That hope has faded. Central bank holdings of euro bonds have fallen back to 26pc, where they were almost a decade ago. Read More 

Telegraph notes mystery German gold withdrawal and GATA’s clamor about it

Germany withdrew two-thirds of its vast holdings of gold from Bank of England vaults shortly after the launch of the euro more than a decade ago, according to a confidential report that emerged on Wednesday.

The revelation came as Germany’s budget watchdog demanded an on-site probe of the country’s remaining gold reserves in London, Paris, and New York to verify whether the metal really exists.

The country has 3,396 tons of gold worth E143 billion (E116 billion), the world’s second-largest holding after the United States. Nearly all of it was shifted to vaults abroad during the Cold War in case of a Soviet attack. Read More 

British gamblers losing more than £1 billion a year

Punters are staking up to £46 billion on the machines, officially called Fixed Odds Betting Terminals (FOBTs), which are popular because they have a higher rate of payout than ordinary “one-armed bandits,” and players can stake up to £100-a-go.

Gambling addiction charities warn that the apparent ease of victory fools punters into continuing playing for longer.

And with the virtual roulette machines swallowing up as much as £18,000 a minute, with three spins of the wheel possible every 60 seconds, the result is that more money is being lost on FOBTs annually than the combined total for gambling on dog and horse racing and at casinos.

A study by the University of Birmingham estimated that gambling addicts are losing around £300 million a year, with young men aged between 16 and 24 the most likely to fall into this group.

The shocking figures about the consequences of the Gambling Act, one of Tony Blair’s pet projects which was ushered into law under Gordon Brown and introduced FOBTs, are disclosed tomorrow evening in a Channel 4 Dispatches programme. Read More 

China Imports More Gold From Hong Kong In Five Months Than All Of UK’s Combined Gold Holdings

There are those who say gold may go to $10,000 or to $0, or somewhere in between; in a different universe, they would be the people furiously staring at the trees. For a quick look at the forest, we suggest readers have a glance at the chart below. It shows that just in the first five months of 2012 alone, China has imported more gold, a total of 315 tons, than all the official gold holdings of the UK, at 310.3 according to the WGC/IMF (a country which infamously sold 400 tons of gold by Gordon Brown at ~$275/ounce).

DSK Says Greece Is Done

Funny how all it takes for people to tell the truth is to no longer be part of the status quo. Yesterday, former UK PM and gold trader extraordinaire Gordon Brown said the 2011 financial crisis isworse than that of 2008, and now we have the man who until 5 months ago was head (it just never gets old) of the IMF, saying that Greece is finished.

From Bloomberg:


And in other news…


Which probably means he will run for Prime Minister of Italy. After all, most politicians only talk about putting their youth to work. Only Italian PM’s actually do it.