Independence And Its Consequences

Britain left the EU on the last day of January and is an independent nation once more. The new Johnson government is confident that Britain will do well outside the EU. Free trade will be embraced, and a no-deal outcome, now dubbed an Australian trade relationship, holds no fears for the British government.

This article summarises the political and economic consequences of this historic moment. The fly in the ointment is there is no sign that Britain’s government understands the importance of sound money, which will be crucial in the event a global economic and financial credit crisis materialises.

Independence and trade negotiations

Having given independence to all its colonies, now it’s Britain’s turn. On 1 February the UK became politically independent and entered an eleven-month transition period while trade terms with the EU and other trading nations are negotiated, with the objective of entering 2021 with freedom to trade without tariffs with as many nations as possible. If Britain succeeds in its initial objectives these trade agreements will include not only the EU but also America, Japan, South Korea, Canada, Australia, New Zealand, the other trans-Pacific Partnership nations and a host of sub-Saharan African nations in the Commonwealth. It amounts to about two-thirds of the world measured by nominal GDP, of which only 21% is with the EU.

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Weekly Energy and Climate News Roundup

The Week That Was: February 8, 2020, Brought to You by www.SEPP.org

By Ken Haapala, President, Science and Environmental Policy Project

Quote of the Week: Judges ought to be more leaned than witty, more reverent than plausible, and more advised than confident. Above all things, integrity is their portion and proper virtue.” – Francis Bacon

Number of the Week: Exceeds in Six of Seven Categories.

Expanding the Orthodoxy: Writing a post on Project Syndicate, Johan Rockström, Lars Heikensten, and Marcia McNutt announced:

“…the Nobel Foundation is hosting its first-ever Nobel Prize Summit, with the theme ‘Our Planet, Our Future,’ in Washington, DC, from April 29 to May 1. The summit – supported by the US National Academy of Sciences, the Potsdam Institute for Climate Impact Research, and the Stockholm Resilience Centre/Beijer Institute – will bring together more than 20 Nobel laureates and other experts from around the world to explore the question: What can be achieved in this decade to put the world on a path to a more sustainable, more prosperous future for all of humanity?”

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Dutch Court Orders Government to Cut CO2 Emissions 25% by EOY 2020

Re-Blogged From WUWT

Dutch Farmer Protest. Image source Breitbart

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More Evidence That a Cold Climate Kills

Re-Blogged From WUWT

From the EARTH INSTITUTE AT COLUMBIA UNIVERSITY and the “Columbia’s press release writers have no shame” department comes this load of tosh presser trying to give readers a lesson on Brexit. On the plus side, the paper shows the MWP being warmer than today on Scotland and says nary a word about “Brexit”.


In ancient Scottish tree rings, a cautionary tale on climate, politics and survival

A 1600s famine with echoes in the age of Brexit

Using old tree rings and archival documents, historians and climate scientists have detailed an extreme cold period in Scotland in the 1690s that caused immense suffering. It decimated agriculture, killed as much as 15 percent of the population and sparked a fatal attempt to establish a Scottish colony in southern Panama. The researchers say the episode–shown in their study to have been during the coldest decade of the past 750 years–was probably caused by faraway volcanic eruptions. But it was not just bad weather that brought disaster. Among other things, Scotland was politically isolated from England, its bigger, more prosperous neighbor that might have otherwise helped. Propelled in part by the catastrophe, the two nations merged in 1707 to become part of what is now the United Kingdom. Such a famine-related tragedy was never repeated, despite later climate swings.

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What Went Up Came Down And Up And Will Come Down Again

By David Haggith – Re-Blogged From Silver Phoenix

It can’t come as any surprise that the stock market’s lofty balloon ride during the past couple of months fell because of a few words this week. It only rode up on sweet tweets by Trump about trade, which created a thermocline for it to ride. So, of course, the market plummeted this week in the unexpected downdraft of Trump’s out-of-the-blue statement that his trade deal may be a year away … even for phase one.

I don’t know if ignorant traders drive these vain accessions and declensions or just ignorant machines that have no ability to discern truth, so blindly they take all presidential headlines at face value.

Who could be surprised that stocks got off to their worst December start since the beginning of the Great Recession when Trump said a trade deal might best be shelved until after the 2020 elections? It was, however, apparently a fleeting horror to those who had actually believed Trump about a phase-one deal being imminent this month. One could only watch the surprised reactions with amusement, given there was no reason there should have been any surprise at all.

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Plans for a Global Dystopia

By Alasdair Macleod – Re-Blogged From GoldMoney

Global policy planners intend to deliver replacements for both dollar hegemony and fossil fuels. Plans may appear uncoordinated and in their early stages, but these issues are becoming increasingly linked.

A monetary reset incorporating state-sponsored cryptocurrencies will enable exchange controls to be introduced between nations by separating cross-border trade payments from domestic money circulation. The purpose will be to gain greater control over money and to direct its investment into green projects.

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Global Industrial Slump And Brexit Dance Go On

By Arkadiusz Sieroń – Re-Blogged From Gold Eagle

The Brexit saga continues. Both the U.S. and China’s industrial sectors suffer from the trade war. How will the Fed react to these downside risks tomorrow? The expectation is that it’ll cut rates, but will that really happen? And how will gold take to that?

Brexit Dance Goes On

Last week, we wrote about the Brexit saga, diving into the latest battles between Johnson and Parliament. But the drama has not ended yet. As we concluded one week ago, “Brexit is far from over, and British politics may surprise us again.” Indeed, Johnson wanted to call a snap general election in December to gain more leverage in the House of Commons, but the UK parliament has rejected Johnson’s proposal. For the third time. But Boris does not like losing, so he proposed today a new bill that lowers the number of MPs requires to pass the decision to hold an early election from two thirds to simple majority.

In the meantime, the EU agreed to the Brexit extension until the end of January 2020. Importantly, the EU offered a “flextension,” which means that the UK could leave before the deadline if a deal is approved by the British Parliament. Brexit is still far from concluded and snap elections could significantly change the political landscape. But one thing is sure for now, the possibility of a non-deal Brexit has been postponed until January 31, 2020 at least. This should reduce the safe-haven demand for gold, but also support the pound and euro against the U.S. dollar, gold’s nemesis.

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