Insider knowledge?

A long time ago, when I was learning about economics, the pound to dollar was around 1: 2.40. Some may recognise that a cent was equivalent of an old LSD penny.

Recently, when I was changing money to go to Greece, I noticed that the pound had almost reached parity with the USdollar and that it was bouncing along at the same conversion rate as the €uro.

We've seen a record setting descent after the new Conservative Party budget. There, I've said it. Budget - although by not calling it a budget the Chancellor manages to avoid fiscal scrutiny. That's a Borisovian trick, if ever there was one.

What if a few hedge funds shorted the pound? (In other words, forward sold large quantities of currency they didn't have hoping to pick it up cheaply before their debt was called).

Unhinged Liz decided to host a dinner for hedge fund managers a few days before the KamiKwasi budget.  

With the massive hints provided, hedge funds with remarkably close links to the UK government made shed-loads of money. 

Everyone else was gobsmacked, to use an economist term. £45 billion in new borrowing for new tax breaks in a curious bid to revitalise an economy facing recession.

Someone likened the trickle down philosophy to hanging from a cliff waiting to be rescued yet the money being provided to the rope-making companies.

More a case of fall-down rather than trickle-down. No wonder one of her victory tweets said she was ‘ready to hit the ground on Day One’. Ouch.

I suggest the puppet-masters will use her to make the UK into a casino for the elite. The recent all-in currency play is merely a taste of the structural changes being discussed to turn UK into an international deregulated tax haven. 

Truss may have run for cover over the last few days (guilt or gilt?). There is certainly room for her in the icey hidey-holes that the previous PM used. It is probably easier than having to explain how the new debt will be absorbed. 

Let the Bank of England bond-buying commence.