Sterling and the Bank of England -
Arrivederci
Opposition to Brexit is based on two powerful interests of Washington.
One is the interests of the New York banks and Wall Street to eliminate the UK as a financial center competitor. This blatant fact has escaped the notice of the City and the Bank of England.
The British have forgotten that they only have one foot in the EU, because the UK was permitted to keep its own currency. The UK does not use the euro and, thus, retains the power to finance the British government. Greece, Portugal, Spain, Italy, France, Germany, etc., do not have this capability. They are dependent on private banks for financing.
In order to trick the UK into joining the EU, the British were given special privileges. However, these privileges cannot last forever. The EU process is one of political integration. As I reported years ago, Jean-Claude Trichet, at that time the president of the European Central Bank, said that to complete the political integration of Europe, the fiscal policies of member states would be centralized. It is impossible to centralize fiscal policies if the UK is an independent financial center with its own central bank and currency.
Wall Street understands that the defeat of Brexit means a shortened lifespan for London as a financial center, as it is impossible to be a financial center unless a country has its own currency and central bank. As it is impossible for the UK to be a member of the EU and not operate under the European Central Bank, once the Brexit referendum is defeated, the process of gradually forcing the UK into the euro will begin.
The other powerful interest is the interest of Washington to prevent one country’s exit from
leading to the exit of other countries. As CIA documents found in the US National Archives make clear, the EU was a CIA initiative, the purpose of which is to make it easy for Washington to exercise political control over Europe. It is much easier for Washington to control the EU than 28 separate countries. Moreover, if the EU unravels, so likely would NATO, which is the necessary cover for Washington’s aggression.
http://www.cashkurs.com/kategorie/wirtschaftsfacts/beitrag/ckwirtschaftsfacts-in-conversation-with-michael-hudson/ 