How A ‘No Deal’ Brexit Could Lead To The “Lehmanization” Of Europe

[Some of us think the disaster is way overdone. -Bob]
By Mark O’Byrne – Re-Blogged From Gold Eagle

(The Telegraph) — Odds of a ‘no deal’ Brexit next week have risen markedly, as the Commons fails to coalesce around a viable alternative to Theresa May’s deal, while once again rejecting the “best possible deal” negotiated between the prime minister and the EU27, albeit by a smaller, yet still considerable, margin than in the past.

This is why, for the first time in a while, speculation about ‘no deal”s impact, not only on the UK, but on the European, and broader global, economy is at the forefront of the market’s mind, as investors have finally been forced to confront the reality that the UK crashing out of the EU next week isn’t only possible, but extremely probable.

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London Property Slide Worsens With Biggest Drop Since 2009

By Mark O’Byrne – Re-Blogged From Gold Eagle

3.8% fall y/y in Q1, the seventh straight decline in values – Nationwide
– Nationally, U.K. real-estate market remains ‘subdued’
– Some of the weakness relates to Brexit as economic uncertainty impacts sentiment

London continued to lead the U.K.’s weakening property market at the start of 2019, with prices falling the most since the financial crisis a decade ago.

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Gold – Preparing For The Next Move

By Alasdair Macleod – Re-Blogged From Gold Money

The global economic outlook is deteriorating. Government borrowing in the deficit countries will therefore escalate. US Treasury TIC data confirms foreigners have already begun to liquidate dollar assets, adding to the US Government’s future funding difficulties. The next wave of monetary inflation, required to fund budget deficits and keep banks solvent, will not prevent financial assets suffering a severe bear market, because the scale of monetary dilution will be so large that the purchasing power of the dollar and other currencies will be undermined. Failing fiat currencies suggest the dollar-based financial order is coming to an end. But with few exceptions, investors own nothing but fiat-currency dependent investments. The only portfolio protection from these potential dangers is to embrace sound money – gold.

The global economy is at a cross-road, with international trade stalling and undermining domestic economies. Some central banks, notably the European Central Bank, the Bank of Japan and the Bank of England were still reflating their economies by supressing interest rates, and the ECB had only stopped quantitative easing in December. The Fed and the Peoples’ Bank of China had been tightening in 2018. The PBOC quickly went into stimulation mode in November, and the Fed has put monetary tightening and interest rates on hold, pending further developments.

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Continuing Brexit Travails

  • Mr Barclay voted against a Government plan for a delay to Brexit last night
  • He said he would support a short extension to Article 50  but not a long one 
  • Mrs May expected to make third attempt to get a Brexit deal thought next week 
  • Mr Barclay said: ‘If we don’t have a deal then we should leave with no deal ‘

Is May about to lose her THIRD Brexit secretary? Stephen Barclay hints he could quit if PM backs a long extension to Article 50 saying ‘we shouldn’t be afraid to leave with no deal’

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Renewables and Climate Policy Are On A Collision Course

By John Constable – Re-Blogged From GWPF

Those advocating climate change mitigation policy have hitherto wagered everything on the success of renewable energy technologies. The steadily accumulating data on energy and emissions over the period of intense policy commitment suggests that this gamble has not been successful. Pragmatic environmentalists will be asking whether sentimental attachment to wind and solar is standing in the way of an effective emissions reduction trajectory.

For almost as long as there has been a climate policy, emissions reduction has been seen as dependent on the replacement of fossil fuels with renewable energy sources. Policies supporting this outcome are ubiquitous in the developed and developing world; markets have been coerced globally, with varying degrees of severity it is true, but with extraordinary force in the OECD states, and particularly in the European Union. The net result of several decades of such measures has been negligible. Consider, for example the global total primary energy mix since 1971, as recorded in the International Energy Agency datasets, the most recent discussion of which has just been published in the World Energy Outlook (2018):

Figure 1: Global Total Primary Energy Supply: 1971–2015. Source: Redrawn by the author from International Energy Agency, Key World Energy Statistics 2017 and 2018. IEA Notes: 1. World includes international aviation and international marine bunkers. 2. Peat and oil shale are aggregated with coal. 3. “Other” Includes geothermal, solar, wind, tide/wave/ocean, heat and other.

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Frack’s Lacking Backing

By Steve Hawkes – Re-Blogged From The Sun

Theresa May has been urged to back fracking as company says it has found ’30 years worth of gas’ in East Midlands

Chemical giant Ineos claims the gas field in Nottinghamshire is the richest in UK history

THERESA MAY is today urged to back the fracking revolution as new tests signal the East Midlands is sitting on “30-years’ worth of gas”.

Ineos, Britain’s biggest private company, claims drilling results from its field in Nottinghamshire suggest “US levels” of shale gas under the soil.

Ineos Director Tom Pickering claims his company has seen the most significant drilling result so far in the short history of Britain’s shale industry
Tests found an average level of 60.7 standard cubic feet per tonne of gas – compared with an average 39 (scf) at a vast shale field in Texas.

Ineos Shale chief operating officer Tom Pickering claimed it was the most significant drilling result so far in the short history of Britain’s shale industry.

Extraordinary Changes Coming

By Mike Gleason – Re-Blogged From Gold Eagle

Mike Gleason: It is my privilege now to welcome in Dr. Chris Martenson of PeakProsperity.com, and author of the book Prosper! How to Prepare for the Future and Create a World Worth Inheriting. Chris is a commentator and a range of important topics such as global economics, financial markets, governmental policies, precious metals, and the importance of preparedness, among other things, and it’s always great to have him on with us.

Chris, welcome back, and thanks for joining us again.

Chris Martenson: Thank you. It’s a real pleasure to be back with you and all your listeners.

Mike Gleason: Well, Chris, when we spoke last in early November, we talked about the Fed printing money and expanding credit to prevent markets from correcting. The central planners there are always ready to intervene. At the time, equity markets were correcting and stock prices fell through the end of December. Officials must have then decided that enough was enough with all the selling because the Fed has very publicly signaled a change in course and instead of more rate hikes and more selling from the hordes of bonds accumulated during QE, the Fed is putting the brakes on tightening and looking to return to stimulus. Now the equity markets are off to their best start in something like 30 years. What do you make of the most recent intervention? Are they likely to get away with yet another round of bubble blowing here, Chris?

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