Tuesday 11 December 2018

Shorting the pound

During today's emergency debate on the Meaningful Vote, the full scale of a government deception was laid out. In spite of the fact that the media had sussed out as early as last Friday that the prime minister intended to prevent a vote on her deal, a succession of ministers and other spokespeople were sent out to broadcasting studios to maintain that today's vote would go ahead as scheduled. This exercise, which persisted through to Monday morning, must have postponed the plunge in the value of sterling which occurred when the prime minister got up to speak yesterday afternoon. The scenario of persons close to government making money from shorting the pound is all too credible. I trust that the authorities are already looking into suspicious movements on the money markets.

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