davidnoakes

Britain is still the 5th largest economy among the world's 236 nations, 209 of which are outside the EU.

With a GDP of over £1,330 billion, Britain's economy is 50% larger than Russia's.

The cost of the EU is now 1/4 of our economy - £167 billon on the EU's quangos, the treasury's largest single expenditure by far, and all new.

We spend £100 billion enforcing EU regulations.

They lied to us the EU would be good for trade. We had an even balance before we joined - now we lose £35 billion a year trading with the EU.

Then there is the only bit the Press is allowed to talk about - the irrelevant £11 billion EU contribution.

The treasury is now insolvent - it cannot finance these massive new EU costs, and had to borrow an addition trillion which is pushing it over the edge.

The stunning thing is the British economy has held up so well when the EU should have successfully destroyed it years ago. It survived only because we've had the biggest boom in history.

British workers didn't participate - the EU, and its 10 million immigrants here, had the money that should have been theirs.

The coming recession will finally see the EU's sabotage succeed, and the EU will utterly destroy the Pound Sterling, which has been its intention all along.

That is why Brown was instructed to keep us out of the EU with his "five tests" - its much more difficult to destroy Britain if we're part of the Euro - the EU would be destroying itself.

The massive sabotage by the EU's agents in Britain - Gordon Brown, Blair, John Major, the Foreign Office etc. is finally coming home to roost.

No. they never planned to let us in the Euro.

The EU dictatorship canot be built while there is a strong Britain on its doorstep. That is why they always planned to destroy us - hundreds of Frankfurt School subversion techniques since the 1950s, and a deliberately manufactured economic collapse.

In the EU dictatorship, we will experience a vicious police state, and abject poverty.

For references see The EU's deliberate destruction of Britain's economy

__________________
David Noakes.
http://eutruth.org.uk

07974 437 097
drjnoakesdel@yahoo.co.uk
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The Bear

It's not the EU that's screwed us, it's lousy government, especially from this lot, and a changing world.

chikrodah

OK, then DN, put up or shut up time.

What exactly is your plan to get the UK out of the EU?

You don't have to supply details, bullet points will do.

aarable

But it seems that they might not have it all there own way:


'Balance-sheet stress in Europe is just as bad as it is in the US.'


Telegraph Business News 11.4.08

By Ambrose Evans-Pritchard

The European Central Bank has again refused to join Anglo-Saxon peers in cutting interest rates, defying ever-louder calls for action as the economic storm clouds gather over Europe.

Jean-Claude Trichet, the ECB's president, dug in his Gallic heels yesterday, insisting that Europe remains insulated from the unfolding slump in the US and would stick to its sole duty of combating inflation, now at a record 3.5pc. "We have one needle in our compass. We have to deliver price stability," he said.


The bank has held rates at 4pc since the credit crisis began, despite a jump in three-month Euribor used to price floating mortgages. The US Federal Reserve has cut rates from 5.25pc to 2.25pc, the most dramatic monetary blitz in a century.


The transatlantic gap in interest yields has drawn "hot money" funds into Euroland, pushing the euro to a new high of $1.59 against the dollar - up 27pc in two years.


The ECB is now in open conflict with the International Monetary Fund, which has slashed its eurozone growth forecast to 1.4pc this year and 1.2pc in 2009. The fund said Italy will be trapped near recession levels for the next two years, while Spain's property boom is deflating fast.


"In the context of an increasingly negative outlook for activity, the ECB can afford some easing of the policy stance," it said, dismissing the inflation scare as a one-off spike from food and oil - likely to subside.


The IMF warned that Europe's banks are in as much trouble as their US counterparts, facing losses of at least $120bn (£60bn) from asset-backed securities, structured investment vehicles, and other arcana from the credit bubble.


It warned that house prices are more overvalued in Ireland (32pc), Holland (29pc), France (22pc), Belgium (18pc), Spain (17pc), and Italy (12.4pc), than in the United States (12pc), and may be subject to a nasty correction. Irish house prices fell 7.3pc last year.


Hans Redeker, currency chief at BNP Paribas, said the ECB had its head in the sand. "They are not looking at the tidal wave that is about to roll straight over them. Balance-sheet stress in Europe is just as bad as it is in the US. The reporting periods are different, so the bad news has not yet come out," he said.


Critics say the ECB's staff have misread the eurozone's credit data, mistaking a 14.8pc surge in corporate loans for evidence of buoyancy. "This is merely a substitution effect. The market for securities has collapsed. Companies are instead turning to their existing credit lines. The question is what will happen when these run out," added Mr Redeker.


Julian Callow, Europe economist at Barclays Capital, said eurozone banks are cutting back "radically" on new credit lines, portending a slowdown in lending later this year. He expects the ECB to cut rates twice in coming months as the credit squeeze bites.


"The economy is grinding ever slower. In Spain there has been a dramatic deterioration in business confidence," he said. Spanish bankruptcies rocketed 74pc in the first quarter. Car sales fell 28pc in March. Half of Spain's 80,000 estate agencies have already shut down, laying off 120,000 staff.


The head of Italy's business federation, Emma Marcegaglia, said the soaring euro was having "a very negative effect on our economy. The ECB should be cutting rates," she said. By contrast, Germany is in rude health. By squeezing wages it has gained 40pc in labour cost competitiveness against Italy, and 30pc against Spain, since 1995. It now enjoys a current account surplus of $257bn (£130bn, 6.2pc of GDP). Four fifths comes at the expense of eurozone partners in what amounts to a "beggar-thy-neighbour" policy. Deficits have reached 12.5pc of GDP in Greece, and 9.2pc in Spain.


The euro's spectacular rise against sterling since September to 80.32p adds to the strain for Europe's aeronautic, automobile, and textile industries. The pound matches the dollar in the trade-weighted exposure of the eurozone.


The ECB faces a near impossible task squaring the needs of two camps pulling ever further apart. So far, it has bent to the will of its German governors, perhaps because its own credibility derives from the Bundesbank.


The euro was launched under an implicit contract with the German people that EMU would not lead to inflation, or to an easy-money bail-out for improvident Club Med debtors. Harsh realities of politics are likely to intrude before long.


Europe risks a replay of the ERM crisis in the early 1990s when Germany raised rates to fight inflation, causing mayhem in those parts of the ERM bloc that were already in a downturn - Britain, Italy, Sweden.

Popeye

1 Repeal the 1972 Act
2 Re -take control of our borders and reimpose immigration controls
3 Review all EU originating directives and regulations and repeal those that cannot be demonstrated to have had a beneficial outcome for both business and the workforce
4 Deport all non British nationals (and their families) that have not worked for at least 50% of their time here and are claiming benefits
5 Re-establish trading links with the Commonwealth and forge closer trading links with emerging economies, like China
6 Abolish the EU Human Rights law

And that's just for starters.

It always amazes me that the EU apologists claim GB could not survive outside the EU - and then proudly boast that we are the 4th or 5th largest (and strongest) economy in the world when it comes to handing out largesse to corrupt banana republics and throwing open our country to all and sundry.

chikrodah

Well, that's Popeye's 6 point plan, at least.

Over to you, DN. What's your plan?

aarable, I'm beginning to think you're either dense or very, very short-sighted. Why on earth do you persist in posting others' views in large fonts? Don't you have any original thoughts of your own?

Smidgey

There is one quote from Rothbard that sums up all my feelings about the EU quite nicely:

"Free trade doesn't require a treaty."

__________________
How vain is man, who boasts in fight the valour of gigantic might!

-Georg Friedrich Händel

The Bear

The instant that looks like ever happening is the instant that you would see the start of the pull out from Britain by the foreign industrialists who use Britain portal into the EU market place.

Controls against who?

Actually you’ll find that there aren’t that many. The ones that hit business mostly are an advantage for the working population so if that dog starts to hunt look out for strikes and worse. In addition the directives and regulations are working towards a level playing field in the European market, a thing that has benefit to us all.

Personally I have more than a little sympathy with that, though a formulae for deportation would need to be carefully and sensitively established, a simplistic approach simply wouldn’t work.

It would be opposed by the Judiciary using the UN convention of Human Rights and various charters that Britain is signatory to, as well as by a great many of the British population, possibly the majority.

It would also create merry hell in the predominantly immigrant parts of the country. They are now a force to be considered.

Bogus and failed “asylum seekers” are a different matter.

They should be rounded up and kicked out with one and only one appeal open to them. A VERY good start would be to reverse the decision by this government to designate appeals arbiters as being “judges” and reporting their comments as coming from such.

Trade implies a quid pro quo arrangement. What is it that we have that we can sell in order to buy that other countries are not today selling cheaper than we can?

As for China, theres damm little that China wants from us.

Why not work towards changing it within the EU, or better yet work towards the introduction of a Human Responsibilities Law that would redress the one sided thing that is causing so many problems?

There is a difference between a large and strong economy and a sound economy. Ours is not sound as it has been built on a massive amount of foreign debt and is increasing day by day.

As for the continued payment of foreign aid, I personally see that as ludicrous, especially when it is going to places such as Zimbabwe and when it is money that we ourselves have borrowed that we are handing out.

I also believe that Brown’s recent cancellation of foreign debt was utterly wrong. Those debts were investments made by Britain on the expectation of a return. He had no right to do as he did.

The Bear

There’s no doubt that there’s a whole lot of pain for many European banks and financial houses, but on the other hand the European balance of payments and the European aggregated debt is in very much better shape than the US and especially better than England.

There’s also no doubt that the European economy will slow as a result of the higher interest rates but which is best? A slow economy that is not amassing huge unsustainable and un-repayable debt, or a fast rising economy that is?

As for the problems that certain states will face such as will be the case with Italy (nothing new there, by the way) that is simply the variance between states that is mirrored in the USA and was mirrored in the USSR. For that matter it’s mirrored in Britain between the counties, and it’s the strength that comes by working together that benefits everyone involved in such circumstances.

I wonder how many British people resent seeing a county with a high level of deprivation and unemployment being in receipt of more tax payers cash than they return as taxes while they pay more “into the pot” than they see coming back in.

In any case, why SHOULD Europe disadvantage itself for the sake of the USA, a nation that is in decline and for whom the financial chickens are coming home to roost.

The USA was bankrupt in all but name in the early 70’s and it was only a deal struck between the US and OPEC in the form of a trade for defence package that included underwriting the US £ as THE currency for dealing in oil that got the US off the hook.

The effect was that the US $ became the de facto world currency with all other currencies and most commodities traded in it. That the US were then the world bankers with control of the currency is what has allowed the US to soar way out of where its real economy should place it in the world. Now for a variety of reasons the EU and the Euro is taking that place with oil and many other commodities increasingly being traded in Euro’s.

We are going to be living in interesting times.

brian pearson

We'll have to take the medicine someday. The longer we leave it the nastier tasting the medicine will be.

Brown and his government though only see the next election, and act accordingly. This time though I think the publics appetite for spending is coming to an end and no amount of rate reductions will re-ignite it.

The real problems will lie in public spending. The money has to come from somewhere to fund the welfare bill and when tax reciepts fall, they will have to take more from the productive workforce. Then, times will become interesting!