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Wednesday, 4 March 2015

Gideon Sells More of the Family Silver

The Chancellor is greatly pleased with himself: he has been to some degree instrumental in selling the government's block of Eurostar shares. Of course, a major tranche of those shares are allocated to a Canadian pension fund. The rest goes to equity investors who will either sell to aliens or sell to Brits who will, in due course, sell to aliens.

He purports to believe that such actions are good for the country. They bring in cash, which he can waste on bread and circuses for the masses. Then the foreigners own the assets, and we don't.

This is just a tiny example of the gadarene rush to despoil the country of its remaining assets. Each such sale pumps a bit of cash into the country, until in the course of circulation it is used to buy imports: then the consumption of those imports is the final destruction of the wealth that was alienated when the capital assets [including, in many cases, intellectual property] passes out of British hands.

It beggars belief!

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