Pound Rises as Boris Loses Control, Election Imminent, Would Bitcoin Jump More with Brexit or Corbyn?

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Boris loses votes in Parliament, Sep 4 2019

The mother of all parliaments has taken charge of the country, with the unelected prime minister Boris Johnson humiliated after he dared threaten the supremacy of the House of Commons with prorogation.

His own brother has now resigned, with Boris unable to even get an election due to a very peculiar 2010 law that requires 2/3rd of turkeys to vote for Christmas.

An election is most probably coming, however, with another vote to be held on Monday following the passing of a bill that takes no deal off the table.

It’s a win for Jeremy Corbyn, the leader of the labour party, as well as Jo Swinson of Libdems. The latter welcomed another MP, formerly from labour this time, with the yellow ones stealing our meme: this is good for Libdems.

What is good for bitcoin is another question with a proxy referendum election now imminent. The ballot box in a proxy way will offer only two real choices: no deal exit or remain.

That’s because a deal that is acceptable to both Britain and the European Union appears to be impossible.

The one agreed by Theresa May is worse than remain, Brexiteers themselves say. Agreeing another one has not even been attempted by Boris this far. You just can’t square the circle.

Remain is easy. Things continue just as they are, with a two or even three speeds European Unions moving towards a gradual merger into a full union.

Why leave, may well be a campaign slogan. We’re going to get a deal Boris may well say, but no one believes him now. Corbyn wants his own deal, with him further offering a referendum on deal or remain. Libdems could perhaps think of just revoking article 50 completely.

Yet Libdems are currently in a very dangerous position of potentially being overshadowed by labour. In the end this may be 2010, but in reverse. Libdems in some supply and confidence agreement with Labour, keeping the latter in check and bringing it a lot closer to the centre.

As it stands, the picture has become far too complicated, with independents in particular unlikely to have decided because they need to hear a lot more from all parties, and they want to hear or see credible acts or statements.

Corbyn v Brexit

The choices are far more numerous, but that’s how Boris will probably want to frame it.

Corbyn has a radical agenda of wealth re-distribution from the rich to the state or workers. A no deal Brexit arguably has a radical agenda of wealth re-distribution from the state or workers to the rich.

In both cases some may find a hedge in bitcoin, but neither choice is appealing on its own. There needs to be instead a bit of both, a more centre ground occupied by Libdems.

Hence some are suggesting it would be a hung parliament with Libdems king-makers and moderators of the more extreme parties.

Their price would certainly be a confirmatory referendum, as well as the implementation of some of their own manifesto, with Europe becoming far less of an issue as conservatives are sent into wilderness.

That’s if the rebels win. Boris could even landslide, but the prorogation of parliament is a very offensive act. He is now perceived somewhat differently at least by independents.

With neither choice very appealing, yellow may well be comfortable, but why the public does not give them the chance of a majority – at least once to try them out – is not clear.

Not least because they’re the only centrist party left. Good for business and good for the poor. Standing up for a United Europe and a United Kingdom. Supportive of both jews and muslims. Happy with rich bankers and trade unions.

They don’t have a Youtube radio station all to themselves though with the Farages and the Moggs, so they haven’t been able to breach that barrier of about 20%-25%.

Meaning in that very old tradition, the people may well have to choose between worse and worser, but a lot can change in the generational election which now has practically begun.

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