Latest / UK Column Radio / UK Column News — 20th May 2026

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UK Column News — 20th May 2026 · UK Column Radio

0:08
Speaker 1: Good afternoon. It's just gone one o'clock on Wednesday, the
0:11
Speaker 1: twentieth of May. Welcome to UK column News. I'm your host,
0:15
Speaker 1: Charles Mannett and I'm joined on live video link by
0:18
Speaker 1: Vanessa Billian Lebanon and Alex Kreole in Moscow. Welcome to
0:22
Speaker 1: the program, both of you, and thank you very much
0:24
Speaker 1: for joining me. Now, like every other UK column News program,
0:28
Speaker 1: we'll be covering a great range of topics in some
0:31
Speaker 1: considerable detail, and as usual, it's the connections between these
0:35
Speaker 1: subjects that you will find here and not elsewhere. Vanessa
0:38
Speaker 1: will be examining parts of the apparently fluid relations between China,
0:42
Speaker 1: the United States and Taiwan, as well as considering how
0:45
Speaker 1: the Trump administration is regarded by Americans at home. Alex
0:50
Speaker 1: will bring detailed financial analysis of the machinations of the
0:53
Speaker 1: Bank of England and in particular the implications of the
0:56
Speaker 1: spiraling debt. And I'll be returning to the thorny subjects
1:00
Speaker 1: of behavioral change and the extraordinarily contradictory energy policy. But
1:05
Speaker 1: we're going to start today's program on the home front,
1:08
Speaker 1: and in order to do this, there's no better place
1:10
Speaker 1: to start than with the contents of what may be
1:13
Speaker 1: regarded as a controversial king's speech. Obviously we have covered
1:17
Speaker 1: this in some detail, but it as further scrutiny because
1:22
Speaker 1: both of in terms of the proposed what's proposed to
1:25
Speaker 1: come out of it, and because it puts the role
1:29
Speaker 1: of the king and indeed the nature of the Constitution
1:31
Speaker 1: itself into the spotlight. Now it's hard to distinguish between
1:35
Speaker 1: the rhetoric dished out by the monarch and that of
1:38
Speaker 1: his government, which now appears to be the sole purpose
1:41
Speaker 1: of his command appointment. The King used the watered down
1:44
Speaker 1: version of Pete Heggs's's stock phrase in returning in referring
1:48
Speaker 1: to responding with strength to an increasingly dangerous and volatile world,
1:54
Speaker 1: but he also spoke of a country being fair to all.
1:57
Speaker 1: Now is what appears to be meant by other of
2:01
Speaker 1: those things. On the strength front, there's little to substantiate
2:06
Speaker 1: the point. After months of delay, we look to the
2:11
Speaker 1: Ministry of Defense tweeting about the recent excursions of HMS Dragon,
2:16
Speaker 1: which is boasting that it's now transited through the series canal.
2:20
Speaker 1: But of course this completely ignores the painful slog that
2:23
Speaker 1: it's actually taken to get so far, and Indeed, the
2:27
Speaker 1: caption suggests a wilful misrepresentation of the situation as they
2:31
Speaker 1: attempt to declare that the single warship will secure the
2:34
Speaker 1: waterway and safeguard freedom of navigation through the Strait. Things
2:40
Speaker 1: are no better in the air, one might say, with
2:42
Speaker 1: Air Force Technology reporting that Errlis has gone into administration.
2:47
Speaker 1: This is the company that was tasked with providing the
2:50
Speaker 1: replacement to the RAF tatemic Red Arrows Hawk airframe. And
2:55
Speaker 1: this might be the moment to remind you that the
2:58
Speaker 1: British Army has announced the retirement of the land drover
3:02
Speaker 1: from its fleet, with absolutely no plan for a replacement vehicle. Now,
3:07
Speaker 1: next up, back to the King that the monarchs spoke
3:10
Speaker 1: about decency, tolerance and respect for difference. I'm sure you
3:17
Speaker 1: will have your own view about whether these are principles
3:20
Speaker 1: upheld by the current government. But with regard to what
3:23
Speaker 1: the Conservative opposition thinks, consider these words from Kemy Budnock,
3:28
Speaker 1: who spoke to Trevor Phillips on Sky News after the
3:31
Speaker 1: two London events last weekend which Mike Robinson and Patrick
3:35
Speaker 1: Henningson attended for UK column.
3:39
Speaker 2: Would you have banned either of these marches?
3:41
Speaker 3: A Palestine Action one or the Tommy rowlinsons.
3:45
Speaker 4: So I have said that we should now start banning
3:47
Speaker 4: the pro Palestinian marches because they are creating a climate
3:51
Speaker 4: of intimidation and fear against Jewish people. All this globalized,
3:56
Speaker 4: the Intifada and from the River to the Sea nonsense
3:58
Speaker 4: is a cover for wiping out Jewish people.
4:02
Speaker 3: We've seen people on those marches who don't think that
4:04
Speaker 3: that's what they're doing.
4:05
Speaker 4: That may be the case, but there are others who
4:07
Speaker 4: know what that's about and it's encouraging them. We've seen
4:10
Speaker 4: murders at a synagogue in Heaton Park. We have seen
4:13
Speaker 4: what happened in Golders Green just a few weeks ago
4:15
Speaker 4: to attempted murders. I think it's time we should call
4:19
Speaker 4: time on that.
4:20
Speaker 3: Tommy Robinson mires anything on that that concerned you.
4:23
Speaker 4: So I obviously didn't go there. I think that it's
4:27
Speaker 4: one of those marches where there are lots of people
4:29
Speaker 4: who are going for good reasons. There's some people who
4:32
Speaker 4: are going for not very good reasons. But it's a
4:34
Speaker 4: different it's a different kind of thing. They are talking
4:36
Speaker 4: about uniting the Kingdom. The other march is about something
4:39
Speaker 4: happening much further away about pro blat Palestine.
4:45
Speaker 1: She seemed to be struggling to make sense of that one,
4:48
Speaker 1: but certainly no suggestion there would be fairness to all
4:50
Speaker 1: under a bad Knock rule. Now the next part of
4:53
Speaker 1: the king speech, of course, might make her us make
4:56
Speaker 1: a bit more sense. My government will take urgent action
4:59
Speaker 1: to tackle anti Semitism and ensure all communities feel safe,
5:03
Speaker 1: but perhaps some rather more than others. Now the event
5:07
Speaker 1: in question, of course, was called Unite the Kingdom, hosted
5:11
Speaker 1: by Stephen Yaxley Lennon under his stage name Tommy Robinson. Now,
5:15
Speaker 1: as seen on screen, one of the sponsors is shown
5:18
Speaker 1: as Urban Scoop, an organization described as being the trading
5:22
Speaker 1: name of firstly Freestyle Freelance Limited and latterly of Thinking
5:27
Speaker 1: Independent Media. Now, the reason this needs scrutiny is that
5:31
Speaker 1: the ticket that Robinson campaigns on is a better Britain
5:34
Speaker 1: where people do the right thing, and this is what
5:37
Speaker 1: Urban Scoop says about itself. So we'll just read from
5:42
Speaker 1: their website. By championing transparency and accountability, we aspire to
5:45
Speaker 1: not only in form but also to engage in mobilized
5:48
Speaker 1: citizens around the world. In doing so, Urban Scoop will
5:51
Speaker 1: not just witness change, but drive it, shaping a future
5:54
Speaker 1: where media in the United Kingdom is a force for good,
5:57
Speaker 1: bridging divides and bringing to light the story that define
6:00
Speaker 1: our times. We can no longer allow the truth to
6:03
Speaker 1: be hidden. So with those words in mind, we have
6:07
Speaker 1: to ask ourselves is this borne out by the situation
6:10
Speaker 1: at hand? And we go to company's house to look
6:13
Speaker 1: at first of all, Freestyle Freelance Limited, which was well
6:19
Speaker 1: in the sole charge with somebody called Adam Geary, but
6:22
Speaker 1: the company is now in liquidation, which takes us on
6:26
Speaker 1: to thinking Independent Media, which had until only yesterday been
6:32
Speaker 1: in charge of Urban Scoops operations, but that has now
6:35
Speaker 1: been dissolved. And I think the reason that this does
6:38
Speaker 1: deserve a certain amount of thought is that, of course
6:41
Speaker 1: it was most it was obvious, certainly from the report
6:45
Speaker 1: that Mike Robinson gave on Monday's news program, that event
6:48
Speaker 1: costs considerable amount of money, and there seems to be
6:50
Speaker 1: absolutely no audit trail running backwards from it, and certainly
6:54
Speaker 1: now with the dissolution of that company, there is nothing
6:58
Speaker 1: clear about it at all. And of course, this event,
7:02
Speaker 1: with regard to what the King has actually said about
7:05
Speaker 1: fairness to all and this type of society that both
7:07
Speaker 1: he and his government apparently seem to want is that
7:10
Speaker 1: they are absolutely giving implicit support and by day I
7:13
Speaker 1: mean Badenock as far as the clip is concerned, and
7:16
Speaker 1: indeed the king one might infer giving implicit to support
7:21
Speaker 1: to the Unite the Kingdom rally movement. Call it what
7:24
Speaker 1: you like from both of those quarters, which I think
7:29
Speaker 1: is a most significant thing now with specific regard to
7:33
Speaker 1: what you've just seen there, Vanessa, the remarks of Kemy
7:37
Speaker 1: Badenock and making that distinction between Tommy Robinson apparently wanting
7:41
Speaker 1: to unite whereas the others are described as doing the opposite.
7:45
Speaker 1: What's your take on that, well, I mean it's quite extraordinary.
7:49
Speaker 5: While they say that what is happening in Palestine is
7:52
Speaker 5: happening far away, and when we know that Israel has
7:55
Speaker 5: effectively captured much of the societal establishment and institutional sectors
8:02
Speaker 5: in the UK, then we know that to be sheer hypocrisy.
8:05
Speaker 2: And when you're talking about.
8:09
Speaker 5: Racism and describing it as nationalism, that's also a worrying
8:13
Speaker 5: trend in the UK itself.
8:16
Speaker 1: It is a very worrying trend, and I think something.
8:18
Speaker 1: We'll have to get back into an extra Now you're
8:21
Speaker 1: going to talk a bit about Donald Trump and try
8:24
Speaker 1: to unpick some of what he said, which is always
8:26
Speaker 1: a challenging exercise bearing in mind what he does say.
8:30
Speaker 1: But he spent time in China, and of course the
8:34
Speaker 1: situation has evolved somewhat since then in that there's now
8:38
Speaker 1: a new visitor out there. But please give us your
8:41
Speaker 1: analysis with regard to the Trump visit and of course Taiwan.
8:48
Speaker 5: Yeah, I'm probably going to come at it at a
8:49
Speaker 5: slightly different angle than many. This doesn't mean that I'm
8:54
Speaker 5: necessarily anti China. It just means that I'm a little
8:57
Speaker 5: bit more realistic about china prospects in the global order.
9:03
Speaker 2: So first of all, I just want to look at this.
9:06
Speaker 5: This was a readout from Mounting, spokesperson for the Ministry
9:10
Speaker 5: of Foreign Affairs in China after the Trump summit with Jijingping.
9:16
Speaker 2: President g pointed.
9:17
Speaker 5: Out that the people of China in the US are
9:19
Speaker 5: both great people, so achieving the great rejuvenation of the
9:22
Speaker 5: Chinese nation and making America great again can go hand
9:26
Speaker 5: in hand. We can help each other succeed and advance
9:30
Speaker 5: the well being of the world. China US relations concern
9:34
Speaker 5: the well being of over one point seven billion people
9:37
Speaker 5: of both countries and affect the interests of over eight
9:40
Speaker 5: billion people in the world. Both sides should rise up
9:43
Speaker 5: to this historic responsibility and steer the giant ship of
9:46
Speaker 5: China US relations forward steadily and in the right direction.
9:51
Speaker 5: And then let's have a look at the US in
9:55
Speaker 5: the US Embassy. In China's readout, which as follows, President
10:01
Speaker 5: Trump had a good meeting with President G of China.
10:05
Speaker 5: The two sides discussed ways to enhance economic cooperation between
10:08
Speaker 5: our two countries, including expanding markets for American businesses into
10:13
Speaker 5: China and increasing Chinese investment into our industries. Leaders from
10:18
Speaker 5: many of the US largest companies joined a portion of
10:21
Speaker 5: the meeting. The presidents also highlighted the need to build
10:24
Speaker 5: on progress and ending the flow of fentanyl precursors into
10:28
Speaker 5: the US, as well as increasing Chinese purchases of American
10:32
Speaker 5: agricultural products. And then, very importantly, the two sides agreed
10:36
Speaker 5: that the Strait of Hall Moves must remain open to
10:39
Speaker 5: support the free flow of energy. President G also made
10:42
Speaker 5: clear China's opposition to the militarization of the strait, which
10:46
Speaker 5: I assume refers to the US blockade and goes on
10:51
Speaker 5: to say any effort to charge a toll for its use,
10:53
Speaker 5: which is the Iranian aspect of this question. He expressed
10:57
Speaker 5: interest in purchasing more American oil to reduced China's dependence
11:01
Speaker 5: on the strait in the future. Both countries agreed that
11:04
Speaker 5: Iran can never have a nuclear weapon. Then I just
11:09
Speaker 5: wanted this was an interview that Trump did with Fox News.
11:13
Speaker 5: I'm sorry to inflict this upon people, but it's quite
11:15
Speaker 5: interesting what he has to say. And this was in
11:18
Speaker 5: reference to the inferred threat from Jijingping over the situation
11:25
Speaker 5: in Taiwan.
11:25
Speaker 2: So let's just roll this.
11:28
Speaker 6: But China made clear that Taiwan is very important to them,
11:32
Speaker 6: and after your first meeting here, President Sheese spokesman put
11:36
Speaker 6: out a.
11:36
Speaker 7: Statement to the media through the media saying this.
11:38
Speaker 6: The Taiwan question is the most important issue in China
11:41
Speaker 6: US relations. If it is handled properly, the bilateral relationship
11:45
Speaker 6: will enjoy overall stability. Otherwise the two countries will have
11:48
Speaker 6: clashes and even conflicts, putting the entire relationship in great jeopardy.
11:53
Speaker 6: You were still inside the meeting when that came out,
11:56
Speaker 6: that sounded almost.
11:57
Speaker 7: Like a threat.
11:58
Speaker 6: It compute, was it communicated that way behind closed doors?
12:01
Speaker 8: And no, it was not at all. But it has
12:03
Speaker 8: always been their most important issue. And it's not a takeover.
12:07
Speaker 8: They just don't want to see this place well quota
12:11
Speaker 8: place because nobody knows how to define it. But they
12:14
Speaker 8: don't want to see it go independent.
12:16
Speaker 9: They don't.
12:20
Speaker 5: I love how he describes it as a place because
12:22
Speaker 5: nobody knows how to find it.
12:24
Speaker 2: This is Trump special. And then our following the summit.
12:28
Speaker 5: We do actually see some degree of backpedal from Trump
12:30
Speaker 5: on the Taiwan issue and the issue of supplying weapons
12:34
Speaker 5: to Taiwan.
12:34
Speaker 2: So let's see this.
12:37
Speaker 9: Thanks change.
12:38
Speaker 8: I will say this, I'm not looking to have somebody
12:40
Speaker 8: go independent. And you know we're supposed to travel nine
12:44
Speaker 8: five hundred miles to fight a war. I'm not looking
12:47
Speaker 8: for that. I want them to cool down. I want
12:50
Speaker 8: China to cool down.
12:51
Speaker 6: But you're waiting on approving billions of dollars of weapons
12:55
Speaker 6: for Taiwan.
12:56
Speaker 8: So as that I'm moving forward, Well, I haven't approved
12:59
Speaker 8: it yet. We're going to see what happens.
13:01
Speaker 7: What do you look.
13:01
Speaker 9: I may do it, I may not do it.
13:03
Speaker 7: Yeah, what's your your hinge.
13:04
Speaker 9: Well, I'm not going to say that, but I may
13:06
Speaker 9: do it.
13:06
Speaker 8: I may not do it, but we're not looking to
13:08
Speaker 8: have wars, and we're if you kept it the way
13:11
Speaker 8: it is, I think China is going to be okay
13:13
Speaker 8: with that. But we're not looking to have somebody say
13:16
Speaker 8: let's go independent because the United States is backing us.
13:19
Speaker 6: You know, so, President, she probably liked that you haven't
13:22
Speaker 6: approved the weapons to Taiwan.
13:25
Speaker 8: I would say, like is maybe too strong a word,
13:28
Speaker 8: because he thinks I could do it with just the
13:30
Speaker 8: signing of my signature, unlike Biden who couldn't sign his signature. No,
13:36
Speaker 8: I'm holding that in a bay and center. It depends
13:38
Speaker 8: on China, depends. It's a very good negotiating chip for US. Frankly,
13:44
Speaker 8: it's a lot of weapons. It's twelve billion dollars. It's
13:46
Speaker 8: a lot of weapons. But you know, when you look
13:48
Speaker 8: at the odds, China is a very very powerful, big country.
13:53
Speaker 8: That's a very small island. It's you think of it,
13:56
Speaker 8: it's fifty nine miles away. Fifty nine miles we're nine
14:01
Speaker 8: five hundred miles away. That's a little bit of a
14:06
Speaker 8: difficult problem.
14:11
Speaker 5: And finally, let's have a look at Trump's idea of
14:14
Speaker 5: solutions for Taiwan that might avoid them getting involved in
14:18
Speaker 5: any spat between China and Taiwan.
14:21
Speaker 2: Just quickly roll this.
14:25
Speaker 8: As you know, we have massive amounts of chip companies
14:28
Speaker 8: now from Taiwan already coming in. We expect to have
14:32
Speaker 8: forty to fifty percent of the world chip business by
14:34
Speaker 8: the end of my term, and I think it should
14:38
Speaker 8: be even more than that. I think all of those
14:40
Speaker 8: chip companies that if they're smart, they're going to start
14:43
Speaker 8: heading to Arizona and the places where they're building.
14:45
Speaker 9: It's going to solve your problem.
14:50
Speaker 5: So instead of Taiwan's independence, they should just move all
14:53
Speaker 5: their production facilities to the s and that will solve everything.
14:58
Speaker 5: This is an interesting substack. I don't know what account signification.
15:06
Speaker 5: And basically this was published showing an analysis of reactions
15:11
Speaker 5: of China's establishment intellectuals to Trump's thirteen to fifteenth of
15:16
Speaker 5: May state visit to Beijing.
15:18
Speaker 2: Let's have a look at what they say.
15:20
Speaker 5: Among fifty authors, most of them actually frame the thora's
15:26
Speaker 5: evidence of deeper structural change. I can't read a lot
15:31
Speaker 5: of that, but basically, if you read the article, all
15:34
Speaker 5: of these analysts and intellectuals, academics and so on are
15:38
Speaker 5: pushing this as a thori in relations and a move
15:41
Speaker 5: forward into a future of economic partnership between the US
15:45
Speaker 5: and China. And then finally, I just want to also
15:49
Speaker 5: look at Trump's impression that there was also going to
15:52
Speaker 5: be some thawing from China in reference to the war
15:56
Speaker 5: against Iran.
15:57
Speaker 2: So let's just play.
15:57
Speaker 6: This said that the present, she said he would offer
16:02
Speaker 6: assistance on Iran, and.
16:04
Speaker 9: Specifically I also said we don't need it.
16:07
Speaker 7: You didn't ask for it.
16:08
Speaker 6: You said that he was offering it specifically to open
16:11
Speaker 6: the straight of war moves.
16:12
Speaker 7: What do you think he will do?
16:15
Speaker 8: I think he's been very nice about it. He gets
16:17
Speaker 8: forty percent of as well.
16:19
Speaker 9: There. He didn't send anybody, He didn't send ships.
16:21
Speaker 8: He didn't send ships with big fat guns on them
16:25
Speaker 8: that we would have had to repel.
16:26
Speaker 9: We would have.
16:32
Speaker 5: But I also want to have a little look at
16:35
Speaker 5: China's weapons supply to the enemies of Iran, both during
16:39
Speaker 5: the war and after the Trump Jijingping summit. So this
16:44
Speaker 5: was on March the seventh, twenty twenty six, China signs
16:48
Speaker 5: a five billion drone deal with Saudi Arabia. These are
16:52
Speaker 5: the predominantly the wing loong drones that were used by
16:57
Speaker 5: Saudi Arabia also in the war or the aggression against Yemen.
17:02
Speaker 5: And then if we also look at this report that
17:06
Speaker 5: has been reported in Western media but also obviously originated
17:11
Speaker 5: from Iranian media, Chinese made wing Lung to UAV shot
17:16
Speaker 5: down over Iran Shiraz actually indicates involvement of yet another
17:21
Speaker 5: country in the war. And of course what they're arguing
17:24
Speaker 5: is that this is most likely going to be UAE.
17:27
Speaker 5: And if we just play a quick video of the
17:30
Speaker 5: wing lu UAV in flight, specifically, the downing of a
17:36
Speaker 5: Chinese made drone over Iran, of course indicates the possible
17:40
Speaker 5: involvement of either UAU or Saudi Arabia, since the US
17:44
Speaker 5: and Israel.
17:44
Speaker 2: Do not use such drones.
17:46
Speaker 5: It's reported that the wing Lung too we was shot
17:49
Speaker 5: down near the city of Shiraz, which is located deep
17:52
Speaker 5: inside Iranian territory, so therefore it wasn't purely reconnaissance.
17:56
Speaker 2: And there in Shiraz.
17:57
Speaker 5: There is a major production facility for Iran and ballistic missiles,
18:01
Speaker 5: as well as an entire missile city which is located
18:05
Speaker 5: very near to the city of Shiraz, and this is
18:08
Speaker 5: effectively a Chinese copy of the US MQ reperzone. It
18:13
Speaker 5: carries up to four hundred and thirty kilos of guided munitions,
18:17
Speaker 5: total weight of four point two tons, maximum speed of
18:20
Speaker 5: three hundred and seventy kilometers per hour, and can remain
18:24
Speaker 5: airborne for thirty two hours. Now, I have had it
18:27
Speaker 5: confirmed by analysts that I know and work within Iran
18:31
Speaker 5: that it was the UAE that was using Chinese supply
18:35
Speaker 5: drones to attack Iran. And then interestingly here this was
18:41
Speaker 5: the eighteenth of May, so this is actually after the summit, Pakistan,
18:45
Speaker 5: which of course is the mediator between the US and Iran,
18:48
Speaker 5: deployed eight thousand troops, a Chinese air defense system and
18:53
Speaker 5: warplanes to Saudi Arabia. They've deployed basically a squadron of
18:59
Speaker 5: around sixteen aircraft, mostly JF seventeen warplanes, which it produces
19:04
Speaker 5: jointly with China. In addition, it's deployed an HQ nine
19:08
Speaker 5: Chinese air defense system and so this for me is
19:12
Speaker 5: quite interesting. So this is in addition to the Patriot
19:16
Speaker 5: and THAD systems that already exist in Saudi Arabia. And
19:20
Speaker 5: then also interestingly considering China's deep partnership with the UAE
19:24
Speaker 5: in particular and israel Joint Defense Fund. Again, this is
19:30
Speaker 5: on May the eighteenth, UAE and Israel have established a
19:33
Speaker 5: fund to jointly acquire and develop new weapons systems, in
19:37
Speaker 5: the latest sign that the war in Iran is bringing
19:39
Speaker 5: the countries closer together. Now that does raise the question
19:43
Speaker 5: are they doing that in order for Israel to be
19:45
Speaker 5: able potentially to purchase weapons that are coming in from
19:49
Speaker 5: China because there are some restrictions in Israel, Although they
19:52
Speaker 5: do buy drones from China that they then modify to
19:56
Speaker 5: carry out attacks against Palestinians, particularly in Goals, but now
20:00
Speaker 5: of course in the West Bank. So while I'm certainly
20:04
Speaker 5: not more critical of China than i am of the
20:07
Speaker 5: United States, what we seem to be witnessing now is
20:10
Speaker 5: the formation of a co hegimen, a partnership between the
20:14
Speaker 5: US and China, and the potential further arming of the
20:19
Speaker 5: enemies of Iran. While Ji Jinping appears to be making
20:22
Speaker 5: guarantees to Trump that he will try as hard as
20:25
Speaker 5: he can behind the scenes to put pressure on Iran
20:28
Speaker 5: to fully open the hormone straight bearing in mind the
20:30
Speaker 5: hormone strait was actually closed when the aggression started against Iran.
20:37
Speaker 1: It's a very good point. But I thank you very
20:39
Speaker 1: much Aded for that. Yes, I mean, I think we'll
20:41
Speaker 1: have more to say about that in extra and not
20:43
Speaker 1: least because I'm going to be covering the in a
20:45
Speaker 1: moment a little bit of what's going on in China
20:48
Speaker 1: with regard to the pusin visit. At the moment, however,
20:51
Speaker 1: we will move on now to Alex. Welcome back to
20:54
Speaker 1: UK column News. Good to see you again. And now
20:56
Speaker 1: you've spent considerable time digging into the activities of the
20:59
Speaker 1: center banks and the Bank of England in particular, So
21:03
Speaker 1: do tell us what have you got for us today?
21:07
Speaker 3: Yeah, I think you know, probably everyone is aware that
21:11
Speaker 3: the news is full of stories about the bond yields
21:16
Speaker 3: in the UK spiking up, and the narrative we're given is,
21:20
Speaker 3: you know, hapless Rachel Reeves and Kirstarmer have sort of
21:26
Speaker 3: caused a lot of worry for the bond market, and
21:28
Speaker 3: the bond markets got very anxious and pushed the yields
21:32
Speaker 3: of government debt up, which means they've been selling the
21:36
Speaker 3: bonds and they've been therefore increasing the price that the
21:40
Speaker 3: UK government has to borrow at. But in reality, in
21:44
Speaker 3: all of the acres of coverage, you never ever hear
21:47
Speaker 3: the words Bank of England, which I find completely amazing,
21:51
Speaker 3: because the Bank of England, at one time, it's small subsidiary,
21:55
Speaker 3: actually was the biggest owner of bonds for any group
22:00
Speaker 3: the United Kingdom. So this small subsidiary of the Bank
22:02
Speaker 3: of England owned in twenty twenty two more bonds than
22:06
Speaker 3: the entire pension industry of the United Kingdom. It was
22:10
Speaker 3: by far the biggest player, and it remains by far
22:13
Speaker 3: the biggest single player. And what they've done for a
22:17
Speaker 3: long time has been printing money, and they printed really
22:21
Speaker 3: the best part of nine hundred billion pounds, and you know,
22:25
Speaker 3: at the same time they were buying bonds with that money,
22:29
Speaker 3: and therefore the bond yield was artificially pushed down, as
22:32
Speaker 3: you may remember, to zero and below zero just after
22:37
Speaker 3: the COVID events. So in twenty twenty and twenty twenty one, yeah,
22:42
Speaker 3: there's the bond yield. They're just going down to zero.
22:45
Speaker 3: So it's a bit like you know, pushing down on
22:48
Speaker 3: a spring. You're pushing that yield far below where it
22:52
Speaker 3: should be based on market forces, and then all they
22:56
Speaker 3: did was basically the reverse process. Beginning in very early
23:00
Speaker 3: twenty twenty two, they stop buying those bonds, they stop
23:03
Speaker 3: printing money, and the reverse process started. So immediately the
23:07
Speaker 3: yields blew up and now they go to sort of
23:11
Speaker 3: above five percent. But if you sort of look at
23:14
Speaker 3: the chart, you can see it's just a mirror image
23:19
Speaker 3: of what the Bank of England is doing. So you
23:29
Speaker 3: can see there you can see the yields now just
23:33
Speaker 3: exploding upwards. As soon as the Bank of England stops
23:37
Speaker 3: pumping money into the system and start selling bonds, they
23:41
Speaker 3: trigger a huge expansion in the yield. That is essentially
23:44
Speaker 3: what's happening. But the amazing thing is nobody mentions this.
23:48
Speaker 3: As I said, in all the acres of coverage, you'll
23:51
Speaker 3: never find a single word about the Bank of England.
23:54
Speaker 3: And in the process of doing all this, they've managed
23:57
Speaker 3: to lose somewhere about one hundred and fifty billion pounds
24:02
Speaker 3: and a lot of that money is a zero sum gain,
24:05
Speaker 3: so a lot of that money will end up as
24:07
Speaker 3: profit with commercial interests. So when the Bank of England
24:11
Speaker 3: was buying bonds, when the yields are very very low.
24:15
Speaker 3: They were buying bonds let's say roughly at par which
24:18
Speaker 3: is at one those bonds now fallen a lot in
24:22
Speaker 3: price down to about eighty seventy eighty five pence, and
24:27
Speaker 3: they have lost money on that trade. So they were
24:30
Speaker 3: buying high and selling low, and the commercial interests were
24:35
Speaker 3: on the other side of that trade. So they made
24:37
Speaker 3: a huge amount of money on this operation. And that
24:40
Speaker 3: there's another element to do with this about the amount
24:43
Speaker 3: of interest the Bank of England is paying commercial banks,
24:46
Speaker 3: and that also accounts for a big chunk of that
24:48
Speaker 3: one hundred and fifty billion. So I'm becoming quite suspicious
24:52
Speaker 3: of what the Bank of England's actually up to. The
24:55
Speaker 3: narrative that they had to pump all this money into
24:58
Speaker 3: the system in all order to have a trickle down
25:01
Speaker 3: effect and stimulate the economy. I don't really buy that,
25:04
Speaker 3: to be honest. You know, whatever evidence you see of
25:07
Speaker 3: that is based on models. What it does do is
25:10
Speaker 3: it makes the wealthy very much wealthier because it's pushing
25:13
Speaker 3: up the value of financial assets, which helps the wealthy,
25:17
Speaker 3: and it has a knock on effect that it's devaluing
25:20
Speaker 3: all of our pounds. So that's why you're seeing things
25:24
Speaker 3: like gold explode because the value of the pound is collapsing,
25:28
Speaker 3: and so on and so forth. And the scale of
25:30
Speaker 3: that printing you can see on this chart. The Bank
25:34
Speaker 3: of England had this chart. They stopped updating it at
25:37
Speaker 3: twenty nineteen, so I, helpfully for them extended it to
25:41
Speaker 3: twenty twenty five, and you can see that spike. In
25:45
Speaker 3: twenty twenty The amount of money we printed was thirty
25:49
Speaker 3: five percent of GDP, which is higher than ever in
25:53
Speaker 3: British history, going back to sixteen ninety seven. That is
25:57
Speaker 3: the scale of the money that was printed then. And
26:00
Speaker 3: as I said, the inflation, if you want to call
26:03
Speaker 3: it inflation from that process was the boost in bond prices,
26:08
Speaker 3: which then trickles over into the boost of equity prices,
26:11
Speaker 3: and it trickles in to the loss of purchasing power
26:15
Speaker 3: of the pound.
26:18
Speaker 1: Alex is very detailed, and I say, there's an awful
26:21
Speaker 1: lot more to come out. And I was going to
26:22
Speaker 1: ask about precedent, but obviously you've just answered that given
26:26
Speaker 1: that there isn't really precedent getting out your crystal ball,
26:30
Speaker 1: do you have a sort of range of possibilities from
26:34
Speaker 1: here that you foresee.
26:38
Speaker 3: Oh, we just don't know it's the real answer. And unfortunately,
26:41
Speaker 3: I think the interests of vested interests will have a lot,
26:45
Speaker 3: a much larger role than I ever imagined to play
26:48
Speaker 3: in that process. So you know, if let's say the
26:52
Speaker 3: vested interests see the equity price falling and they don't
26:56
Speaker 3: want the equity price to fall, the Bank of England
26:59
Speaker 3: will come in and stop printing money again and they'll
27:01
Speaker 3: prop up the equity market and they'll say, look, we
27:04
Speaker 3: need to stimulate the economy. As I said, I don't
27:07
Speaker 3: believe that second answer. It's very theoretical based on models.
27:12
Speaker 3: But what you can say for sure is that money
27:14
Speaker 3: printing will keep the wealthy wealthy, and it will actually
27:17
Speaker 3: make them wealthier. So I'm beginning to wonder if the
27:21
Speaker 3: Bank of England balance sheet is not being used primarily
27:24
Speaker 3: to manipulate the value of financial assets. I mean, it
27:29
Speaker 3: definitely is being used for that, because that's what they're doing.
27:31
Speaker 3: They're manipulating prices of financial assets by printing money. So
27:36
Speaker 3: you know, I'm actually surprised now they've let the yield
27:40
Speaker 3: go above five percent and they're still selling. Bank of
27:43
Speaker 3: England is still selling into this, So it doesn't make
27:47
Speaker 3: a lot of sense. You know, whose interest is that
27:50
Speaker 3: in at this stage, it's in the interest of short
27:53
Speaker 3: sellers of the UK bonds. You know they're making money
27:56
Speaker 3: hand of a fist.
27:57
Speaker 1: Now, indeed, I think not yours or mine is probably
28:01
Speaker 1: the bit that the viewer and listener wants to know.
28:04
Speaker 10: Alex.
28:05
Speaker 1: Thank if I what to do for that, we'll come
28:06
Speaker 1: back to you later in the program. And now we'll
28:09
Speaker 1: just have a short break, but I will kick that
28:11
Speaker 1: off by asking you how well do you think you
28:14
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28:17
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28:21
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28:34
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28:39
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28:41
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28:45
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29:44
Speaker 9: Well they are.
29:44
Speaker 1: If that's hit home, then you know what to do,
29:47
Speaker 1: which is good. And of course there was reference there
29:49
Speaker 1: to our forthcoming event, or at least two events. They
29:52
Speaker 1: don't forget tickets are selling fast for our twentieth anniversary
29:55
Speaker 1: event towards the end of September. And of course the
29:58
Speaker 1: other reminder is the accommodation in the area, which of
30:00
Speaker 1: course is Plymouth is getting booked up, so please don't delay.
30:04
Speaker 1: We would love to see that. We will be announcing
30:06
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30:11
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30:14
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30:18
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30:23
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30:25
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30:31
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30:35
Speaker 1: a quarterly basis on that score. And now as to content,
30:39
Speaker 1: Jeram has been off games this week, so we're running
30:42
Speaker 1: his time the interview with Kavork al Mussian again and
30:46
Speaker 1: considering the very important question who benefits from the war
30:49
Speaker 1: in Iran. That's tonight at seven o'clock. And then at
30:52
Speaker 1: nine pm we have a Silk and Steel favorite, Carl
30:55
Speaker 1: Sorry Warwick Powell joining Carl Zar again to talk about
30:59
Speaker 1: the shifting sands beneath China, America and Russia, so very
31:03
Speaker 1: much tying in with today's news program. And then tomorrow
31:06
Speaker 1: at one pm, Mark Anderson is speaking to the author
31:09
Speaker 1: and commentator John Briggs, who wrote the acclaimed twenty eighteen
31:13
Speaker 1: book Alice and the Money Tree, no doubt one of
31:16
Speaker 1: Theresa May's favorites. Finally, and with thanks to the very
31:21
Speaker 1: long standing UK column member who sent this in news
31:25
Speaker 1: that a nearby climbing wall here in Plymouth is under threat.
31:29
Speaker 1: At one might say exactly the time when people really
31:32
Speaker 1: do need to be able to get out, socialize and
31:34
Speaker 1: develop skills and if you would consider supporting a challenge
31:39
Speaker 1: to this, then the link to the petition is in
31:41
Speaker 1: the show notes. Now we're going to move on to energy,
31:44
Speaker 1: as I mentioned at the start of the program, and
31:48
Speaker 1: to lead into that will consider the visit. And of
31:51
Speaker 1: course this follows exactly what Vanessa has been saying. But
31:53
Speaker 1: this is the visit of President Vladimir Putin of Russia
31:58
Speaker 1: into China, and how this might contrast with what's been
32:03
Speaker 1: going on between Presidents Trump and she. We have the
32:08
Speaker 1: Chinese government, the State Council, reporting on the welcome ceremony,
32:14
Speaker 1: which of course we were just looking at footage of there.
32:17
Speaker 1: Now it must be said clearly that the situation is
32:20
Speaker 1: extremely different in that China and Russia share an enormously
32:24
Speaker 1: long land order with which no other nation may interfere.
32:29
Speaker 1: Also worth pointing out that China, certainly per head, is
32:34
Speaker 1: not nearly so mineral rich as Russia, and therefore it
32:38
Speaker 1: appears to be the pursuit of mutual benefit these two
32:42
Speaker 1: countries are after. But exactly like Vanessa has just been articulating,
32:46
Speaker 1: China does not appear to want to do so in
32:49
Speaker 1: such a way as to suggest that they have a
32:51
Speaker 1: favorite in order to keep their options open, even if
32:54
Speaker 1: that means making unscrupulous approaches or deals with other countries
33:00
Speaker 1: to see what comes out of is not least because
33:02
Speaker 1: to return to the statement that Vanessa was actually just
33:04
Speaker 1: quoting from, just to pick out a quote sort of
33:07
Speaker 1: signaling uncertainty, China will address US concerns regarding supply chain
33:12
Speaker 1: shortages related to rareer and other critical minerals. Now that
33:16
Speaker 1: is the tone as you heard from Vanessa, but it
33:18
Speaker 1: sort of suggests that the White House at the moment
33:21
Speaker 1: might be the poor relation in so far as nothing
33:24
Speaker 1: is actually really nailed down. But nonetheless, these countries do
33:28
Speaker 1: look as though they're at least trying to make practical
33:31
Speaker 1: decisions about the futures of their particular nations, accepting of
33:34
Speaker 1: course that there will be huge corporate benefits derived from
33:38
Speaker 1: any of those processes. But to look back this way,
33:42
Speaker 1: will return to the King's speech in order to examine
33:44
Speaker 1: this aspect from a UK perspective, and in particular energy independence,
33:49
Speaker 1: because of course the King said that his ministers believe
33:52
Speaker 1: that energy and dependence must be a long term goal
33:54
Speaker 1: national security and all the other things that you've heard
33:57
Speaker 1: thousands of times before. But how does this actually stack
34:00
Speaker 1: up with what Ed Miliband has been doing at his
34:03
Speaker 1: Department for Energy Security and Net zero. This goes back
34:07
Speaker 1: to August twenty twenty five, where he said, we know
34:10
Speaker 1: that any price rises a concern for families. Wholesale gas
34:13
Speaker 1: prices remain seventy five percent above their levels before Russia invaded.
34:17
Speaker 1: This is the fossil fuel penalty being paid by families
34:21
Speaker 1: and the rest of it. That's why the only answer
34:23
Speaker 1: for Britain is to get us off the roller coaster
34:26
Speaker 1: of fossil fuel prices and onto clean, homegrown power we control.
34:31
Speaker 1: And he finally, and perhaps rather disingenerously, says, we are
34:35
Speaker 1: determined to support families now. So we're just going to
34:38
Speaker 1: put Miliband under the magnifying glass and just to see
34:42
Speaker 1: what we make of what he said. First of all,
34:45
Speaker 1: we go to off GEM and the wholesale market indicators,
34:48
Speaker 1: where we can see that quite patently, what he said
34:50
Speaker 1: about electricity and gas prices is absolute nonsense. The prices
34:54
Speaker 1: have not done at all what he said they had,
34:57
Speaker 1: and they have not been effective of it by the
35:00
Speaker 1: things that he says, but rather more by the sorts
35:04
Speaker 1: of policy that he is pursuing. So that's electricity first
35:07
Speaker 1: chart and then gas and then of course the other
35:11
Speaker 1: thing to point out is the statement, the Annual Statement
35:14
Speaker 1: on Fuel Poverty Statistics and indeed where blame should any
35:19
Speaker 1: be shouldered, may be apportioned of course, to quote from
35:23
Speaker 1: that document says that in twenty twenty five are an
35:26
Speaker 1: estimated nine point four percent of households in fuel poverty
35:30
Speaker 1: in England. So of course the question is what has
35:35
Speaker 1: been done about this, and we've been just looking at
35:38
Speaker 1: Ed miliband a press release from recent weeks the government
35:43
Speaker 1: to go further and faster in becoming energy secure and
35:46
Speaker 1: wait for it, Miliband's answer is plug in low cost
35:50
Speaker 1: solar panels that families can buy at supermarkets and put
35:54
Speaker 1: on their balconies or outdoor space. They're going to be
35:58
Speaker 1: made available for the US time. So what sort of
36:02
Speaker 1: impact that's really going to have on people's energy bills
36:06
Speaker 1: remains to be seen. How it's even going to be
36:09
Speaker 1: practically executed again remains to be seen. But we'll just
36:12
Speaker 1: return to the King briefly, because of course the other
36:16
Speaker 1: thing that he refers to is the increased production of
36:18
Speaker 1: clean British energy and ensuring that the enemies of the
36:22
Speaker 1: United Kingdom cannot attack the economic security of the British people.
36:26
Speaker 1: This quite obviously is a reference to Russia, and indeed
36:31
Speaker 1: the narrative that suggests that the reason that energy prices
36:34
Speaker 1: are high is because of the activities of Russia rather
36:37
Speaker 1: than the pursuit of a completely unattainable net zero goal.
36:41
Speaker 1: Is this borne out by the situation as we find it. Well,
36:46
Speaker 1: I would put it to you that that might not
36:48
Speaker 1: be the case, given that the Department for Business and
36:50
Speaker 1: Trade have just released a notice headlined general Trade License
36:56
Speaker 1: for sanctioned processed oil products and this refers to the
37:00
Speaker 1: license number that you see on screen now and effectively,
37:03
Speaker 1: with having to read all the nitty gritty detail, this
37:06
Speaker 1: is to say that sanctions on the purchase of Russian
37:09
Speaker 1: oil have had to be relaxed, and have been relaxed
37:12
Speaker 1: of course with almost no fan for perverly OBYUS reasons.
37:17
Speaker 1: But nonetheless this is exactly what has happened, and this
37:20
Speaker 1: is absolute absolutely exemplifies the way in which the policies
37:26
Speaker 1: of Milliband, and indeed the restoric in the King's speech
37:29
Speaker 1: is utterly inconsistent and unfortunately hypocritical, but again something we
37:35
Speaker 1: might discuss a little bit further in extra particularly what's
37:38
Speaker 1: going on in China with regard to Russia at the moment.
37:42
Speaker 1: But now, Vanessa, you have rather more for us on
37:46
Speaker 1: Donald Trump, which given what we've already seen, seems quite remarkable.
37:49
Speaker 1: But over to you, yeah, I kind.
37:53
Speaker 5: Of do apologize, but I do think he does at
37:56
Speaker 5: least bring a smile to people's faces, if perhaps for
37:59
Speaker 5: the wrong reason. I do also raise questions over China's
38:03
Speaker 5: welcome to Trump of dozens of young girls, bearing in
38:09
Speaker 5: mind his Epstein connections.
38:11
Speaker 2: But that's a that's an aside, I guess.
38:14
Speaker 5: But anyway, this is this is Trump talking about again
38:18
Speaker 5: nuclear does so let's just roll this.
38:22
Speaker 9: That was different.
38:24
Speaker 8: This one is, I guess you could say worse. I
38:27
Speaker 8: was pretty bad. You don't get much worse. Emptying your prisons,
38:30
Speaker 8: drug dealers, murderers into our country.
38:32
Speaker 9: It's pretty bad. But you could say this is worse.
38:35
Speaker 8: In this one, they are trying to make a nuclear weapon.
38:40
Speaker 8: I've stopped it twice, and they would have had it
38:41
Speaker 8: two years ago. They would have used it already on
38:44
Speaker 8: Israel and the rest of the Middle East. Look at
38:46
Speaker 8: all the missile shot at people that didn't think they
38:48
Speaker 8: were even.
38:49
Speaker 9: Involved quitar Saudi Arabia, UA. Look at all, I mean.
38:54
Speaker 8: Bahrain, Kuwait, they got all shot at. Nobody thought they
38:58
Speaker 8: were even involved in this thing. They were, they would
39:00
Speaker 8: have used a nuclear weapon on the Middle East.
39:03
Speaker 9: One thing I'll make clear right now.
39:05
Speaker 8: They said, very specifically, because I deal with them. I said,
39:09
Speaker 8: we're taking the nuclear dust. They said, you can have it.
39:14
Speaker 8: I said, we're going to go get it. We're not
39:17
Speaker 8: gonna let you take it. They said, we can't take it.
39:19
Speaker 8: We don't have the capability of taken. And I said why,
39:21
Speaker 8: I said, because it was hit so hard. I mean
39:24
Speaker 8: the mountain literally collapsed on it, a granite mountain.
39:27
Speaker 6: So why isn't that just so you know, well, just well,
39:31
Speaker 6: I mean, if you want, if your goal was to
39:32
Speaker 6: set back.
39:33
Speaker 9: Is good enough.
39:34
Speaker 8: But you know what, it's not good enough public relations wise.
39:38
Speaker 8: It's important, you know, it's important. It's probably good enough
39:42
Speaker 8: for a different reasons.
39:46
Speaker 5: So I think again, he just said the quiet part
39:48
Speaker 5: out loud there whereas it's not good for public relations
39:51
Speaker 5: to actually stop the war right now. And then I
39:54
Speaker 5: just want to show kind of the schizophrenia of Donald Trump.
39:58
Speaker 5: So this was his post on true Social Sorry, if
40:01
Speaker 5: we can just go back to the first one for
40:03
Speaker 5: a second. This was on May the eighteenth, so here
40:07
Speaker 5: he's basically saying he's going to be attacking ground invading
40:11
Speaker 5: Iran from all areas surrounding Iran.
40:15
Speaker 2: And then on the same.
40:16
Speaker 5: Day he then put out this post, which basically says,
40:21
Speaker 5: if we can have the next one now, thank you.
40:26
Speaker 5: If Iran surrenders, admits their navy has gone and resting
40:29
Speaker 5: at the bottom of the sea, and their air force
40:30
Speaker 5: is no longer withers, and if their entire military again
40:33
Speaker 5: we've got capitals all over the place, walks out of Tehran,
40:37
Speaker 5: weapons dropped and hands held high, each shouting I surrender,
40:40
Speaker 5: I surrender, while wildly waving the representative white flag, And
40:44
Speaker 5: if their entire remaining leadership signs all necessary documents of
40:48
Speaker 5: surrender and admit their defeat to the great.
40:51
Speaker 2: Power and force of the Magnificent USA.
40:54
Speaker 5: The failing New York Times, China Street Journal, WSJ, corrupt
40:58
Speaker 5: and now irrelevant CNN and all them of fake news
41:01
Speaker 5: media will headlined that Iran had a masterful and brilliant
41:04
Speaker 5: victory over the US of America. And it wasn't even close.
41:08
Speaker 5: The democrats and media have totally.
41:09
Speaker 2: Lost their way. They have gone absolutely crazy.
41:13
Speaker 5: And then the next day he puts out this post
41:16
Speaker 5: where basically he capitulates.
41:18
Speaker 2: Now bear in mind also.
41:19
Speaker 5: This is after the Xi Jinping summit, where he basically
41:24
Speaker 5: says He's been asked by the Amir of Kata Tamim
41:27
Speaker 5: bin Hamad al Thani, the Crown Prince of Saudi Arabia,
41:31
Speaker 5: the President of the UAE, to hold off on our
41:34
Speaker 5: planned military attack of the Islamic Republic of Iran, which
41:39
Speaker 5: was scheduled for tomorrow. I'm not sure anyone new it
41:42
Speaker 5: was scheduled for tomorrow. But anyway, just as with the
41:45
Speaker 5: ending of Project Freedom, which was at the best of Pakistan,
41:49
Speaker 5: here he blamed UAE, Saudi Arabia, etc. For basically pulling
41:56
Speaker 5: him back from the abyss of another war with Iran.
42:03
Speaker 5: It's very difficult to keep up with Trump's statements actually
42:06
Speaker 5: to be to be honest, because he flips and flops
42:09
Speaker 5: on the same day. But I just wanted to end
42:12
Speaker 5: and I apologize. This is perhaps very indicative of why
42:18
Speaker 5: this war is happening. It's not for the American people,
42:22
Speaker 5: so I wonder who it is. For the benefit of anyway,
42:26
Speaker 5: let's just play this section, this last section from the
42:29
Speaker 5: Fox News interview.
42:33
Speaker 6: The po get it jumped all over this Stagle get
42:35
Speaker 6: it you made the other day.
42:36
Speaker 7: You were asked on that when you were leaving.
42:39
Speaker 8: What extent are American financial signakean motivating?
42:42
Speaker 5: You can make you not even a little bit.
42:45
Speaker 1: It's the only thing that matters is when I'm.
42:47
Speaker 8: Talking about Iran, they can't have a new blue weapon.
42:50
Speaker 8: I don't think about American financial situation.
42:53
Speaker 5: I don't think about anybody.
42:55
Speaker 2: I think about what place we could not let Ran
42:58
Speaker 2: have a new blue weapon.
42:59
Speaker 9: That's That's just a perfect sat.
43:05
Speaker 5: So basically he doubles down. He said it's the perfect statement,
43:08
Speaker 5: and I would make it again. So he doesn't care
43:10
Speaker 5: about the impact on the American people. He simply cares
43:13
Speaker 5: about regime change in Iran on behalf of Israel's national
43:17
Speaker 5: security such as it is.
43:20
Speaker 1: Yes, and I think he probably joins a list of
43:23
Speaker 1: supposedly world leaders who might be in a similar camp.
43:27
Speaker 9: But thank you very much.
43:28
Speaker 1: Indeed, at this rate, it might be likely you get
43:30
Speaker 1: a call from the White House to speakers Press spokesperson
43:35
Speaker 1: so Keen are you to promote the words of Sonal Trump.
43:39
Speaker 1: So watch it, Alex back to you. And in particular,
43:43
Speaker 1: I think that the focus of this time period between
43:47
Speaker 1: twenty twenty and now, but obviously specifically in this case
43:50
Speaker 1: with regard to debt.
43:55
Speaker 3: Yeah, and we can put this slide up. As I said,
43:59
Speaker 3: the official narrative we have now is, you know, this
44:03
Speaker 3: is a hapless Rachel Reeves who can't cope with the
44:06
Speaker 3: finances and political instability over the Starmer leadership. And as
44:13
Speaker 3: I said, they never mentioned neither the Bank of England,
44:15
Speaker 3: which is a huge player in all of this, and
44:18
Speaker 3: they never mentioned the fact that we've added about a
44:21
Speaker 3: trillion pounds worth onto our national debt over about seven years,
44:26
Speaker 3: but particularly in lockdown where you know, they shut the
44:30
Speaker 3: economy down and enormous amounts of money, unbelievable amounts of
44:35
Speaker 3: money were just burned up. And all of that was
44:39
Speaker 3: financed by bought government borrowing and printing the money to
44:44
Speaker 3: buy the dead instruments that were issued. And this is
44:48
Speaker 3: just one month, which is May twenty twenty. In that
44:51
Speaker 3: one month alone, we issued about sixty two billion pounds
44:56
Speaker 3: worth of government obligations, which is about two two hundred
45:01
Speaker 3: pounds per household in a single month, and that debt
45:05
Speaker 3: gets passed down to our children and grandchildren, and we
45:10
Speaker 3: got basically no benefit from that as a country, So
45:14
Speaker 3: that money was literally burned up for people to sit
45:16
Speaker 3: at home and for all these completely ridiculous masks and
45:21
Speaker 3: dough ppe equipment and so forth. So that has created
45:25
Speaker 3: obviously a huge increase in debt levels that they're basically
45:30
Speaker 3: back to more or less mid nineteen sixties as we
45:34
Speaker 3: were coming down from World War Two debt levels. So
45:38
Speaker 3: you know, that is another big driver why the bond
45:42
Speaker 3: yields of the UK are higher now than they were,
45:44
Speaker 3: because we've added on tons of debt with no corresponding
45:48
Speaker 3: assets created in the process. So this is something nobody mentions.
45:54
Speaker 3: And it also I get extremely irritated listening to the
45:58
Speaker 3: Conservatives talking about bringing back fiscal responsibility and also listening
46:05
Speaker 3: to Reform who are themselves just recycled conservatives. And you
46:13
Speaker 3: can see then that you know on the next chart
46:17
Speaker 3: is this is not unique by any means to the UK.
46:22
Speaker 3: What we have is independent central banks and independent countries
46:28
Speaker 3: doing exactly the same thing and complete locksteps. So I
46:32
Speaker 3: discussed the money printing in the UK, but if you
46:36
Speaker 3: sort of step back and look at other countries, they
46:39
Speaker 3: did exactly the same, essentially money printing up to more
46:43
Speaker 3: or less exactly the same time. So you can see
46:45
Speaker 3: the peak of those curves is the peak of money printing.
46:48
Speaker 3: They then stop money printing at the same time, and
46:52
Speaker 3: then they run they run the process in reverse, which
46:56
Speaker 3: is selling those bonds basically all in perfect unice. And
47:01
Speaker 3: you know, we're supposed to believe that these are independent
47:04
Speaker 3: countries with independent central banks just by chance doing exactly
47:08
Speaker 3: the same thing at exactly the same time. And as
47:12
Speaker 3: far as I can see this activity, you have to
47:15
Speaker 3: conclude it's coordinated. The Bank of International Settlements is the
47:20
Speaker 3: central hub for central banks. They produce all the data.
47:23
Speaker 3: I'm sure there's quite a lot of information exchange between them,
47:27
Speaker 3: and I have to assume there's some level of coordination
47:31
Speaker 3: then and again, as I mentioned in the other segment,
47:35
Speaker 3: the scale of central bank activity means that every financial
47:39
Speaker 3: market basically is rigged, particularly in the first instance bond markets,
47:43
Speaker 3: but then equity markets, interest rates are rigged, and more
47:47
Speaker 3: or less, currency movements are also heavily influenced by printing
47:51
Speaker 3: of money. In central bank balance sheet movements. So the
47:55
Speaker 3: insiders in this business can generate literally limitless profit by
48:01
Speaker 3: taking the other side from the central banks. So when
48:05
Speaker 3: the central banks stop pumping money into the system, they
48:08
Speaker 3: actually announced in advance or by the way, folks, we're
48:12
Speaker 3: gonna wind down one hundred billion pounds worth of guilts
48:16
Speaker 3: over a certain period of time. So of course then
48:19
Speaker 3: the guilt price or the bond price falls, the yields
48:23
Speaker 3: go up, and all the commercial insiders just make money
48:27
Speaker 3: every step of the way. And again I think when
48:30
Speaker 3: I've started looking at one hundred and fifty billion loss,
48:34
Speaker 3: at the fifty billion loss at the Bank of England,
48:44
Speaker 3: and a lot of that turns up with commercial interests
48:46
Speaker 3: who are on the other side. And you know, I
48:49
Speaker 3: think we're seeing a single essentially monetary system, very tightly
48:54
Speaker 3: coordinated across well most of the world, but definitely the
49:00
Speaker 3: sort of Anglo spheres in lockstep on money printing and
49:04
Speaker 3: reverse money printing. It's it's all happening exactly the same time,
49:08
Speaker 3: exactly the same way.
49:12
Speaker 9: So it seems.
49:13
Speaker 1: And obviously we have the benefit of looking at this
49:14
Speaker 1: in retrospect, so we can follow that the graphs that
49:17
Speaker 1: you show and we can see why certain things have happened. Obviously,
49:22
Speaker 1: this is not an isolated instance of countries moving in
49:25
Speaker 1: lockstep during that period, are you aware of I mean,
49:29
Speaker 1: I dare say there would have been plenty of sort
49:31
Speaker 1: of public criticism of these sorts of policies at the time.
49:34
Speaker 1: But are you aware of any countries that took a
49:38
Speaker 1: different path with their central banking?
49:42
Speaker 3: There are a few that go slightly differently that they're
49:47
Speaker 3: not They're not major countries though they're smaller. So you know,
49:50
Speaker 3: we're looking there, you know, we're looking at there at
49:53
Speaker 3: the FED, the ECB, that's already quite a lot of
49:56
Speaker 3: moneytary system, and then a few of the others. I
49:59
Speaker 3: don't think there's anyone, you know, big out there who
50:02
Speaker 3: didn't do something pretty similar. You know, there could be
50:05
Speaker 3: some of the smaller countries did something slightly differently, but
50:09
Speaker 3: certainly nobody big. Everybody was in this in locksteps.
50:14
Speaker 1: So okay, Alex, thank you very much. Indeed that I was,
50:18
Speaker 1: I was terrific, And I dare say again another subject
50:22
Speaker 1: we can look at in a bit more detail. In
50:24
Speaker 1: extra now we go to the consideration of it being
50:28
Speaker 1: another round of how worried should we be? We look
50:32
Speaker 1: here to the Daily Telegraph in this particular instance talking
50:35
Speaker 1: about hunter virus supposedly coming from rodents, supposedly coming from
50:42
Speaker 1: the Andes region of South America. But really, is this
50:46
Speaker 1: about health or is it about something else? Well, I
50:49
Speaker 1: will leave you to decide, But in order to help you,
50:53
Speaker 1: I will just play a clip from the BBC World
50:56
Speaker 1: Service News Day program this morning and saw absolutely trying
51:01
Speaker 1: to her guests into dictating or at least reporting back
51:08
Speaker 1: to her about behavioral change rather than any concern to
51:13
Speaker 1: do with lack of human life.
51:17
Speaker 12: The first spread of the disease has been attributed to
51:19
Speaker 12: delayed understanding of the Budimunjo strain of the disease plus
51:23
Speaker 12: gatherings of people during burials. Let's now speak to doctor
51:28
Speaker 12: A Ralli Bagamba, who's a resident of Bunnia and a
51:30
Speaker 12: lecturer at a local teachers college.
51:33
Speaker 13: So but all we know there is a fear and
51:35
Speaker 13: anxiety among the population.
51:37
Speaker 12: And have you observed any changes to behavior? People still
51:41
Speaker 12: shaking hands, are they're washing their hands more often? And
51:44
Speaker 12: you talk about those burials that are happening more and
51:48
Speaker 12: more now, have the numbers reduced? Have people changed how
51:53
Speaker 12: they behave in those burials and they're still carrying out
51:56
Speaker 12: those traditional rights.
51:58
Speaker 13: Since the Minister of the Ministry of Education Ministry of
52:02
Speaker 13: Health has uh you know, spoken openly and telling people
52:06
Speaker 13: what's going on, and they, you know, the fight effort
52:11
Speaker 13: has been launched. Lots of people now understand that it's
52:15
Speaker 13: a very dangerous situation. Before the sickness was discovered a
52:20
Speaker 13: lot of people, so it was treated as ordinary death.
52:24
Speaker 13: Tell people notice there were just too many death Then
52:27
Speaker 13: they noticed there was something else going on. So the
52:32
Speaker 13: habit have changed. People have summi experience with the ebola.
52:36
Speaker 13: Although the problem is that this trainer is not known.
52:40
Speaker 13: There are new symptoms that we have to learn to
52:43
Speaker 13: know about. But everyone knows that this is a very
52:47
Speaker 13: very dangerous situation. Of course, the corporation is different according
52:52
Speaker 13: to whether people have the level of education. There is
52:56
Speaker 13: a linguistic issue that the government has to deal with
52:58
Speaker 13: by the government deploying a massive effort to get everyone
53:02
Speaker 13: to understand what's going on. And as far as what
53:07
Speaker 13: I've seen within a bun itself, I see people have
53:09
Speaker 13: changed behavior and people are ready to comply with everything
53:14
Speaker 13: the Minister of Health is seeing.
53:18
Speaker 1: So there are He delivered exactly what the BBC we're
53:20
Speaker 1: hoping for, which was to suggest that compliance and cooperation
53:25
Speaker 1: are born of fear and so called education. Of course,
53:29
Speaker 1: this can be applied to almost anything, as demonstrated by
53:31
Speaker 1: this timeless piece from the BBC about the looming threat
53:34
Speaker 1: posed by bananas and this is back from twenty fifteen. No, no,
53:39
Speaker 1: the picture shows a potentially fatal hand of seven bananas.
53:43
Speaker 1: Of course, because the title of the piece is can
53:45
Speaker 1: eating more than six bananas at once kill you? It's
53:48
Speaker 1: not clear how you're supposed to eat six bananas at once,
53:51
Speaker 1: But never mind that. Now this goes back to the
53:56
Speaker 1: suggestion that there are threats posed to humans by zooses,
54:00
Speaker 1: so in effect, the ability of something that's going to
54:05
Speaker 1: harm you jumping from one species to another. This is
54:08
Speaker 1: promoted by HAIRS, which is effectively a subsidiary of DEPHOR
54:13
Speaker 1: and APHA and NEED the UK Health Security Agency. But
54:17
Speaker 1: they've put out a qualitative assessment of the risk to
54:20
Speaker 1: the UK human population. So I would say print this
54:23
Speaker 1: off and frame it because it will be interesting to
54:26
Speaker 1: look back over time and see how the goalposts have moved.
54:30
Speaker 1: But specifically, the question is asked in this assessment, would
54:35
Speaker 1: a significant number of people be affected? This is after
54:38
Speaker 1: they've gone through all the various permutations of can rats
54:43
Speaker 1: go to the United Kingdom? Can they be dangerous? And
54:46
Speaker 1: can humans be affected? And all the other sorts of
54:49
Speaker 1: questions that frankly don't really belong on the government website.
54:52
Speaker 1: But the question to would a significant number of people
54:55
Speaker 1: be affected? Sorry, the answer is that the outcome is no,
54:59
Speaker 1: and the quality of the evidence is satisfactory. So of
55:01
Speaker 1: course they can at least get out of that one
55:04
Speaker 1: by saying that the quality of evidence was not sufficient
55:07
Speaker 1: and has changed. But there it is in black and white.
55:10
Speaker 1: The answer is no, there is no threat. And this
55:13
Speaker 1: is as I say, this is concerning the hantavirus, which
55:16
Speaker 1: course is being pumped up at every opportunity. Now, insofar
55:20
Speaker 1: as where this comes from, I think it is important
55:22
Speaker 1: to chart the path backwards and there have been many,
55:25
Speaker 1: many examples of this. Perhaps the most gratuitous was in
55:28
Speaker 1: twenty twenty four when birdfley was apparently found in mammals
55:31
Speaker 1: in the sub Antarctic for the first time. This is
55:33
Speaker 1: when a team of scientists, obviously with a very specific
55:36
Speaker 1: purpose in mind. They wanted to find an illness in
55:40
Speaker 1: elephant seals and first seals down in South Georgia, and hey,
55:43
Speaker 1: presto they did. And if you have seen this video before,
55:47
Speaker 1: then I make no apology because I think it's absolutely
55:49
Speaker 1: critical that people do understand how this situation is being
55:52
Speaker 1: manipulated for the control of society and enormous corporate profits,
55:57
Speaker 1: among other things. But this is carry Marlis, the inventor
55:59
Speaker 1: of the peace see all tests, speaking back in the
56:01
Speaker 1: nineteen nineties.
56:04
Speaker 14: How do they misuse PCR to estimate all these supposed
56:11
Speaker 14: free viral RNAs that may or may not be there.
56:16
Speaker 10: If it's I think misused PCR is not quite I
56:20
Speaker 10: don't think you can misuse pcrtually. Now the results the
56:24
Speaker 10: interpretation of it. See if you if you if you
56:26
Speaker 10: can say if they wanted to, if they could find
56:30
Speaker 10: this virus in you at all? And with PCR, if
56:34
Speaker 10: you do it well, you can find almost anything in anybody.
56:37
Speaker 10: It starts making you believe in the sort of Buddhist
56:40
Speaker 10: notion that everything is contained in everything else, right. I mean,
56:43
Speaker 10: because if you can model amplify one single molecule up
56:46
Speaker 10: to something that you can really measure, which PCR can
56:50
Speaker 10: do then there's just very few molecules that you don't
56:55
Speaker 10: have at least one single one of them in your body. Okay,
56:57
Speaker 10: So that could be thought of as a misuse of it,
56:59
Speaker 10: just to claim that it's meaningful. It's a really quantitative thing.
57:03
Speaker 10: It tells you something about nature and about what's there.
57:05
Speaker 10: But it allows you to take a very minuscule amount
57:10
Speaker 10: of anything and make it measurable and then talk about
57:13
Speaker 10: it in meetings and stuff like it is important. See,
57:16
Speaker 10: there's not a misuse. That's just sort of a misinterpretation.
57:19
Speaker 10: PCR is separate from that. It's just a process that's
57:21
Speaker 10: used to make a whole lot of something out of something.
57:24
Speaker 10: That's why it doesn't tell you that you're sick, and
57:28
Speaker 10: it doesn't tell you that the thing you ended up
57:30
Speaker 10: with really was going to hurt you or anything like that.
57:35
Speaker 1: So everything he said, though, is obviously critically important, but
57:38
Speaker 1: in particular those last few phrases about not being able
57:41
Speaker 1: to determine from the results of PCR test whether or
57:43
Speaker 1: not something has made that organism ill always likely to
57:47
Speaker 1: make that organism ill, or indeed where it came from
57:49
Speaker 1: in the first place. Now you will know, I would
57:51
Speaker 1: imagine where this is going and the answer, of course
57:54
Speaker 1: is into the pharmaceutical industry's lap. And so therefore we
57:57
Speaker 1: look at Nature, who have been speaking to Jay Hooper,
58:01
Speaker 1: the scientist at the center of the proposed vaccine development.
58:07
Speaker 1: Of course, at the moment outcry because there's no vaccine
58:10
Speaker 1: for this particular illness, despite the fact it's extraordinarily contained
58:17
Speaker 1: to very very small number of people so far, if
58:22
Speaker 1: it even exists. But the point is that he is
58:25
Speaker 1: absolutely clinging to the narrative. Hooper himself saying, some people
58:28
Speaker 1: have suggested, and I've said it before, that climate change
58:31
Speaker 1: could alter rodent populations and increase the number of people
58:35
Speaker 1: living in or entering areas where these rodents are present.
58:39
Speaker 1: That might increase case numbers. I think one would also
58:42
Speaker 1: have to point out that it might not increase case numbers,
58:45
Speaker 1: or it might have absolutely nothing to do with it.
58:48
Speaker 1: And this entire narrative is of course totally predictable. But
58:51
Speaker 1: just to push that out a little bit further, we
58:53
Speaker 1: look at the European Medical Journal talking about Japan. This
58:57
Speaker 1: is hot off the rest from yesterday. The UK accepts
59:01
Speaker 1: handa virus anti viral doses from Japan. So the point
59:05
Speaker 1: that falls out of this is it doesn't matter one
59:07
Speaker 1: jot what the UKHSA says about the proposed risk or
59:10
Speaker 1: indeed where it might come from, or what the consequences
59:13
Speaker 1: might be. The fact is that the pharmaceutical industry is
59:16
Speaker 1: absolutely going to leap into action and you are going
59:18
Speaker 1: to have these drugs pushed absolutely at you, relentlessly, and
59:22
Speaker 1: indeed this will be surrounded with a backdrop of fear
59:27
Speaker 1: in order to induce exactly the sort of cooperation and
59:29
Speaker 1: compliance that the BBC Newsday guests was talking about earlier.
59:34
Speaker 1: So there we go. That is the update on the
59:38
Speaker 1: should we be Scared situation in the country at the moment,
59:42
Speaker 1: and that brings us more or less to the end
59:44
Speaker 1: of the program. But with health in mind, I just
59:47
Speaker 1: have one final video clip which takes us back a
59:50
Speaker 1: number of years for a slightly different take on things.
1:00:00
Speaker 7: I'm going to show mych Ice Green Gone at that's Peedies.
1:00:11
Speaker 1: We go for those who are either too young or
1:00:14
Speaker 1: too far away. That was Eric Morkham there with Ernie
1:00:18
Speaker 1: Wise Morgan Wise. It's classic and I hope you enjoyed that.
1:00:22
Speaker 1: But thanks very much indeed to both Vanessa and Alex
1:00:25
Speaker 1: for joining me. In the news program. For those of
1:00:28
Speaker 1: you who are minded to do so, please remember Germs
1:00:32
Speaker 1: interview tonight going out at seven and Carl speaking to
1:00:35
Speaker 1: Warwick Pahl at nine, and then of course Mark Anderson
1:00:38
Speaker 1: talking to John Briggs tomorrow. Again a further reminder about
1:00:42
Speaker 1: tickets for our twentieth anniversary event in September, which will
1:00:45
Speaker 1: be spectacular. You can take my word for it so
1:00:48
Speaker 1: much so opn put an extra syllable in that, And
1:00:51
Speaker 1: of course those of you who are UK column members
1:00:54
Speaker 1: please hang around for UK column News Extra which will
1:00:57
Speaker 1: come in about ten minutes. Thank you very much to
1:00:59
Speaker 1: dove jo me Bye bye