Liz Truss and the Collapse of the British Pound Sterling. Hyperinflation Looming

By Brett Redmayne-Titley

Global Research, September 26, 2022

Follow us on Instagram and Twitter and subscribe to our Telegram Channel. Feel free to repost and share widely Global Research articles.

***

“Those who make peaceful revolution impossible will make violent revolution inevitable.” – John F. Kennedy.

With another unelected Prime Minister continuing the Conservative Party’s forty-year destruction of the British family- sans the rich- and hyperinflation looming above a long predicted economic depression, let us examine the day’s headline on the ascent of Liz Truss.

“After a drawn-out contest, the country’s ruling Conservative Party on Monday picked Liz Truss to be its new leader and the U.K.’s new prime minister.”

“A Drawn Out Contest” was merely a tepid daily media championship interspersed by a brief commercial break for the three unsubstantial debates. Here, these purported conservatives offered only the path of least resistance featuring more deficit spending repackaged behind their two eager smiles.

Sunak and Truss, as finalists had similar motivations and solid training beforehand. Both are amateur anti-populist, New World Order and World Economic Forum disciples vying to become the next UK PM to wantonly fellate their masters in Brussels, Washington or the House of Lords when not busy servicing Klaus Schwab.

And, well, of course, the Windsors.

“Ruling Conservative Party” was, when using metrics, another media distortion that ignored the fact that the PM was selected by a paltry, yet divisive subset of 0.29% (140,000) of registered British voters. This brash falsehood also failed to remind the reader that the Conservative Party did not win the last national election, it purchased it.

“Leader.” This begs the rhetorical question: “Of what country?”.  As detailed in the recent article, “Britain’s ‘Special Relationship’ and the American Virus”, forty years of Tory leadership have steadily destroyed Britain by using a particularly American economic model. One Prime Minister at a time.

Truss is a graduate of globalist Klaus Schwab and his  World Economic Forum’s “Young Leaders Programme.”  Here, allegiance to country, much less populism, by these graduate “leaders” is verboten. As to Liz Truss, an anti-BREXIT campaigner and former member of the Liberal Party she is committed to rejoining the central planning of the EU and ECB. This made her the perfect choice for this Zionist scholarship.

As to any actual populist bona fides of promoting purely British interests- beyond American wars- the CVs of both are barren. In the aftermath of Selection Day, Sept 5, 2022, not surprisingly 65 per cent of real Britainsaid Truss was “out of touch with ordinary people.”

Since “hanging on in quiet desperation is the English way,” the UK voter will now wait a very long time for redress regarding Truss since the likelihood of the Conservatives soon holding a national election is zero. No matter, what voter would choose opposition by the Labour Party? That opposition was terminated in 2019 with the internal party and media coup that fraudulently forced out of British politics the last sincere populist Labour champion, to be replaced by a House of Lords puppet.

In the meantime, as clearly stated by Truss within mere hours of the “vote”, Brits can now mumble in their beer foam as Britain and the pound sterling are further destroyed without further interruption. Down to 1.129 to the US dollar as of this writing and dropping with every financial press release from number 10.

Truss immediately vowed to provide yet another tranche of deficit spending. The continuation of this forty-year failure in Americanized Keynesian false optimism is based again on a media propagated lie of yet another national emergency.  With inflation trying to go hyper Truss’ plans are madness and will only further debase the English currency and impoverish Britain by destroying what is left of their savings, their wages and their purchasing power.

Investor and hedge fund manager, Bill Blaine assessed the new PM’s economic plan as,

“… simple – pick a bunch of headline generating noisy ideas and back them with some empty bluster about how they will create growth and wealth.”

Looking at her plan from a Tory perspective, certainly the already wealthy will click their heels in applause of their correct choice of PM. In turn, Ms Truss will likely be invited soon to stop by the House of Lords for a visit with the likes of Labour’s Sir Kier Starmer. And afterwards, a toddy.

Or, a gargle?

As polled by YouGov, despite sporting her new Thatcher-ish hairdo, only 12% of UK respondents think Truss will make a “good” or a “great” prime minister. As to her predecessor, fully 55 % of respondents said they thought Johnson was a “poor” or “terrible” PM, but Truss has fared little better with 52% per cent holding the same contempt for this legacy.

Liz Truss is politically remarkable in her sudden rise to power. Straight from Oxford, she began by running her local Conservative Association. Her ten-year path to becoming Foreign Secretary was preceded by her time as Education Minister, Secretary of State for the Environment, Justice Secretary, Chief Secretary to the Treasury, Secretary of State for International Trade, President of the Board of Trade, and a Minister for Women and Equalities.

As Foreign Secretary, Truss met with her Russian counterpart Sergev Lavrov and her diplomacy predictably smacked of Americanization. Lavrov described their discussion as “turning out like the conversation of a mute and a deaf person”. Geographically challenged, Truss was also unaware that Rostov-on-Don and Voronezh are actually in Russia.

It has been reported that Truss has direct ties to former MI6 boss Richard Dearlove.  Dearlove’s emails were hacked in May 2022 and these showed that he was also the head of a group called Operation Sunrise. The goal was to undermine former prime minister Theresa May for her failure to deliver Brexit promptly. The emails, his own from 2018-2019, showed that Dearlove directed this effort on behalf of British oligarchs.

Within this tranche were many emails from Dearlove to Truss and visa-a-versa.

However, it was when she vowed to happily go nuclear that Truss sealed the deal for becoming the PM.

John Pienaar of Times Radio advised Truss that if she became prime minister, she would be quickly shown the procedures for launching nuclear missiles from Britain’s Trident submarines. “It would mean global annihilation,” Pienaar said. “I won’t ask you if you would press the button, you’ll say yes, but faced with that task I would feel physically sick. How does that thought make you feel?”

With dead eyes and an emotionless expression, Truss replied, “I think it’s an important duty of the Prime Minister and I’m ready to do that.”

You Reap What You (did not) Vote For

As detailed in, “ Britain’s Special Relationship and the American Virus”, after examining carefully the metrics of the Conservative Party’s forty-year disaster of destroying Britain in mirrored American economic fashion, Truss is indeed no better than Johnson, Blair, May, Brown or Cameron: a fawning British wannabe elitist whistling American tunes past Britain’s graveyard.

The Tories feared a mandated national election, despite Sir Keir Starmer’s wind-up doll championship of the Labour Party, so the Tories rubber stamped Truss’ cabinet choices. Showing political naiveté of Roman proportions Truss dutifully chose a cabinet made up of a pro-American gallery of up-and-comers like Kwasi Kwarteng, who is moving significantly up in class to Chancellor of the Exchequer from the Department for Business, Energy and Industrial Strategy, and Suella Braverman, former Attorney General to Home Secretary, an attorney who first passed the bar in New York.

Truss also included previous cabinet appointments, such as Ben Wallace as Defense Secretary. A peculiar return was political Judas Jacob Rees –Mogg whose back stabbing political skills befit his bespectacled undertaker’s garb, an image often shown in Daily Mail headlines worthy of Brutus.

British nationalists, if they still exist, should note that within Truss’ cabinet, all included are devoted members of the backroom “Friends of Israel Society.”  Here, consideration should be given as to where their national loyalties, like those of PM Truss, truly lie. Such is the state of British democracy, thus Americanized into Monocracy.

The election of Truss was anything but an election. What took place was a vote offered only to172,000 Conservative Party “members” who are the faceless circumference of an old-time Conservative Party agenda. Of this group, 18-24-year-olds were provided only 6% of these votes.

Interestingly, as their comment on Truss, fully 20% (30,000+) of this Tory subset of members decided to not vote. 142,000 then cast votes on behalf of the remainder of all of Britain. Only 82,136 voted for Truss.

However, as of July 2020, there are 46.8 million registered UK voters. Using simple math the UK voter might dwell on the result of this long division:

0.17% of British voters put Truss in power.

Further to monocracy– and rigged elections- the Sunday Times reports that Truss is looking into passing a new law that would ban another independence referendum in Scotland until polls show that 60% of the Scottish population supports a new plebiscite.

That’s just a bit too Zelensky, is it not?

Mindful Brits might also recall that the Conservative Party did not win the last national election by popular mandate at the polls. No. After receiving 43.6% of the 2019 vote the Cons also failed to gain a majority in the House. Needing ten seats the Tories did a dirty deal with the Democratic Ulster Party (DUP) and purchased their ten parliamentary seats for £1 Billion in public subsidies.

Only this outrageous mortita put the needed Tory rumps, once again, into the seats of power.

Whistling American Tunes… Past Britain’s Graveyard

Moving on to economic necessity, like her predecessors all Truss can offer as a panacea to the UK’s growing list of problems, is more deficit spending. Anyone with a calculator or the ability to balance a chequebook knows exactly why forty years of accumulated debt has now proven failed. With the worst yet to come.

Truss quickly announced wanting to inject hundreds of billions in utility subsidies to keep the already inflation-impoverished Brits from shivering into open revolt. But the biggest carrot was the new PM’s predictable bail-outs to be given in printed cash to those same utility companies and gas suppliers in yet a further attempt at one directional Trickle-Down economics. Speaking on Sunday with Laura KuenssbergTruss said, that “it’s fair” that the richest people will benefit the most from her tax cuts.

What say you, Britain?

After more than a year of the BofE denying that a recession was on the way and the reality of inflation, once selected, Truss also promised even more American-style economic failure and “a rightwing agenda of tax cuts – largely funded by borrowing”. This does beg the question as to how this economic oxymoron jives with a truly conservative platform featuring balancing of the national budget and paying off debt, now over 100% of GDP.

But, with the UK economy heading towards hyperinflation, Britain’s plucky new PM assured her ever desperate nation that, “Extraordinary challenges call for extraordinary measures, ensuring that the United Kingdom is never in this situation again.”

Good luck with that.

Her plan starts with long-term gifts to global Big Oil that do nothing for Britain’s energy woes in the short term. Truss will now dutifully lift the UK’s fracking ban as a gift to gas companies, and increase North Sea drilling leases as a gift to oil companies while renewing a focus on accelerating offshore wind farms as a gift to green companies.

None of this will provide an additional kilowatt to the British people for years to come.

However, funding will soon be on the way to corporate bank accounts, as parliament follows suit using the excuse, again, of a trumped-up national emergency. There will be a paltry public tithing in the form of a utility price cap, but this will be paid for with more debt to keep the masses quiet, warm and dull.

“This is the moment to be bold. We are facing a global energy crisis, and there are no cost-free options,” said Truss in a speech before the House of Commons. “We are supporting this country through this winter and next, and tackling the root causes of high prices so we are never in the same position again.”

The new prime minister said the two-year “energy price guarantee” means average household bills for electricity and heating will be no more than £2,500 sterling (US$2,899) per year capping a typical household bill at its current average of £1,971. Before this announcement, the country’s cap on energy bills was set to increase to £3,500  (US$4,059) per year beginning in October. This would have represented an 80 per cent increase from the current average annual bill of £1,971 (US$2,286).

But, Britains will be the ones paying for their own bribe. Conservative estimates of how much the price cap will cost put the final price tag at around £100 billion (US$115.97 billion). Other estimates put the actual cost to British taxpayers as high as £200 billion(US$231.66 billion) an increase amounting to 10% of current GDP.

Notably, PIMCO’s Gene Frieda said in The Financial Times that the Truss government’s decision to cap domestic energy prices for households is analogous to the UK’s failed exchange-rate peg of 30 years ago.

Ironically, sterling plunged to a thirty-seven-year low on the three-decade anniversary of “Black Wednesday” (Sept. 16, 1992), when the pound famously crashed out of the European Monetary System’s exchange rate mechanism. At the time, the Bank of England couldn’t stop the pound’s plunge, even with interest rate hikes and spending billions to prop up FX markets. Billions that, this time, are not available unless printed.

The pound dropped again today.

The Bank of England is set to bail out UK energy companies that face financial difficulties due to rising energy prices, The Guardian reported. The bailout fund will offer as much as another £40 billion (US$46 billion) in loans to “struggling” energy companies. Truss’ price cap plan means that energy suppliers will “receive funding from HM [His Majesty’s] Government” to cover the difference between what they are legally allowed to charge consumers and what the wholesale market rates for energy are. This guarantees to maintain profits.

The government is set to finance this massive expense largely by borrowing tens of billions of pounds to fund just the first few months of the price cap program. As currently drawn up, the price cap package includes £130 billion (US$150.83 billion) of spending on household bills until April 2024, and a £67 billion (US$77.73 billion) discount scheme for the energy bills of businesses for twelve months.

The added expense is expected to dramatically increase the U.K.’s national debt which is already £2.3 trillion (US$2.67 trillion).

Truss might do well in the future to consider the words, this week, of US president, Joe “The Big Guy” Biden….

“I am sick and tired of trickle-down economics. It has never worked…”

Worse for Britain and the pound, if wholesale gas prices soar the subsidy scheme could skyrocket from £200 Billion to unknown multiples as prices rise and the currency value continues to plunge.

Truss’ massive deficit spending package will be financially very difficult to sustain and politically impossible to remove.

Crisis? What Crisis?!

Why are the UK’s utilities climbing as fast as in Europe when Britain gets nearly 50% of its oil and natural gas from the massive Scottish-controlled North Sea fields and another 30% of gas from Norway?

Also, right now Europe is still importing over 1 million barrels of Russian crude daily and has been doing so for the last month. The sanctions are not yet in effect. The EU is stocking up before the taps turn dry. Despite sanctions Russia is exporting some 3.32 million barrels of crude daily by sea, Bloomberg calculations have shown, which means Europe is still buying a third of that, while it still can. With the Russian ruble at all-time highs, this means that nothing has changed since June when the embargo was approved and that Europe will indeed have to find alternative oil suppliers at a time of likely higher prices.

Russia has been blamed for shutting down the Nord Stream 1 pipeline. The media has failed to report the crucial fact that, first Canada deliberately refused to deliver the essential repaired turbine back to Russia’s Gazprom – its owner – but instead sent it to Siemens in Germany, where it is now. Siemens Germany is essentially under American control. Both the German and Canadian governments refuse to grant a legally binding sanction exemption for transferring the turbine to Russia. No turbine? No gas.

“Energy policy over the past decade has not focused enough on securing supply,” boldly stated Truss.

Of course, the PM was moot as to which British political party should be assigned blame for this result.

Beyond expressing universal support for these massive corporate cash bail-outs the British media does not speak a word to the British public regarding the backroom and legally mandated “Bail-ins” that will steal from UK bank depositor’s savings to pay for failed banks. This was documented in the recent article, “When Your Bank Fails, Don’t Walk…Run!”

Brits and their prostitute media would do well to ask their new parliamentary hand-maiden some very important questions about the premise for these rising utility costs, and of Truss’s willingness to gut Britain to support a proven to be corrupt neo-Nazi, American-inspired puppet regime in Kyiv, while Britain suffers.

Quiet Desperation

In perhaps a final sign that Truss’ upcoming tenure is doomed, the Queen, that progenitor of the theft of Britain by the House of Windsor has died a mere thirty-six hours after the new PM kissed her signet ring. If Truss’ presence did not kill off the Queen, she will certainly kill Britain.

Aside from being the world’s number one in postcard sales, what did the Queen do for Britain besides being a tourist attraction who spawned a cadre of budding elitists and an alleged paedophile while regularly asking for “more” from the realm’s public coffers rather than selling, perhaps, one of her tiaras or a castle or two?

The full breadth of Britain will this day, September 19, 2020, cry for the dead majesty of Britain, thus buried with their Queen along with the last remnants of a once great society. Both chucked into a deep dark hole below Westminster Abbey, soon to be forgotten.

Britain will next collectively fawn with cheering approval during the orgy of public spending on The Royals for the upcoming coronation of the new King, a man who, like Truss, has never given a wit for the British public interest, merely his personal gain at the expense of His expendables.

As Britain freezes in the dark this Winter, the public would do well to renew their interest in reading books. Within those long shelved offerings is a many-volume rap sheet of the new King Charles III, a man who has already been conjuring the reign of King Charles I as he, then, raped and pillaged his fortune in the name of the crown.

The release of the Panama Papers in 2017 showed in detail the disdain of the new King for his country. Like the other billionaires still haunting the House of Lords, bonnie Prince Charlie also stashed his ill-gotten booty in offshore bank accounts so that the UK pauper got not a penny via his paying taxes. The new King, actually only half English by birth, and likely the stepfather to a fool of a bastard son has a very tidy few Billions stashed far away from British scrutiny.

Now, Charles III will be gifted, also, the realm. Tax-free.

Might the new King be asked to pay his back taxes before his coronation? This would certainly pay for his crowning- if not an NHS hospital or two.

Not bloody likely!

But on the Coronation Day of King Charles III, a desperate Britain, if not the once mighty Welsh and the Scots, might also remember Liz Truss and her true popularity on the previous Selection Day.

Then, Britain would do well to consider, with optimism and hope, what can be done when pushed. That time, too long ago, when the British rescued Britain.

Of that refreshing morning when, in a single stroke, a new beginning was forged by a very different “crowning”of, then, King Charles I, on the bloody steps before White Hall, January 30, 1649.

Metaphorically, of course…

*

Note to readers: Please click the share buttons above or below. Follow us on Instagram and Twitter and subscribe to our Telegram Channel. Feel free to repost and share widely Global Research articles.

Brett Redmayne-Titley has spent the last twelve years documenting the “Sorrows of Empire.” He has authored over 200 articles all of which have been published and often republished and translated by news agencies worldwide. An archive of his published work can be found at watchingromeburn.uk. He can be contacted at live-on-scene ((@)) gmx.com

He is a regular contributor to Global Research.

Featured image is by Tim Hammond / No10 Downing Stree / Creative Commons

The original source of this article is Global Research

Copyright © Brett Redmayne-Titley, Global Research, 2022

https://www.globalresearch.ca/liz-truss-and-the-collapse-of-the-british-pound-sterling-hyperinflation-looming/5794548

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s

This site uses Akismet to reduce spam. Learn how your comment data is processed.

Up ↑

Our World Legends.

Past+Present. World Legends Reloaded+Retold. Martial+More.

~Burning Woman~

This WordPress.com site is for thoughts from "the other side"

Plumber and Hardware

Responsible Plumbing for clean portable water and safe sanitation.

Counterpoint

"International Topics, discussed logically"

Thoughts of a Wolf in Sheep's Clothing

Musings from someone who is NOT a Sheeple...

Declaration Of Opinion

{Mark Catlin's Blog} Agitate, Educate and Organise

Pet Human

Political and social commentary

Piazza della Carina

Geopolitics and Foreign Policy ... english and italian

God, dogs, and miracles

How I learned about God, and how dogs were involved

The PPJ Gazette

PPJ Gazette copyright ©

© blogfactory

Truth News

Rangitikei Environmental Health Watch

Watching our environment ... our health ... and corporations ... exposing lies and corruption

The Alchemist's Studio

Raku pottery, vases, and gifts

THE CHRONICLES OF HISTORY

READING INTO THE PAST .....

Emma's History Review

Want to find out about interesting historical topics and books?

Dispatches from the Asylum

“The story so far: In the beginning the Universe was created. This has made a lot of people very angry and been widely regarded as a bad move.” ― Douglas Adams

Documentary Film Festival. Los Angeles & Toronto

Submit your feature or short DOC and get it showcased at the FEEDBACK Film Festival

%d bloggers like this: