Consequences of Brexit [part 7] Read first post before posting

[Longcol 596]

27 minutes ago, Top Cats Hat said:

The Brexit MEP Richard Tice has just been on Newsnight getting very aerated over the fact that every retired civil servant has come out against Brexit claiming that senior civil servants should reflect the general population and be 50% Leave and 50% Remain.

 

The guy is a total idiot! 🙄

Lol - shouldn't the same 50/50 split apply to members of the Conservative Party then 😎

[Top Cats Hat 10]

8 minutes ago, Longcol said:

Lol - shouldn't the same 50/50 split apply to members of the Conservative Party then 😎

Or indeed his own Brexit Party!

[crookesjoe 10]

6 hours ago, Pettytom said:

I’ve done a few things. As far as I see, the threat from  Brexit is financial, medical and cultural.

 

With that in mind, I’ve taken some medical insurance out. I’ve moved all of my investments out of UK stocks and into European, US and Far Eastern stocks.  I’ve no real need of an income these days, but those investments are crucial for me. I also have a small, cheap European bolthole which might well become more permanent if things go properly pear shaped.

 

Oh. I’ve also convinced my two highly talented kids to move to the EU. 27. One to complete studies, the other to work. That’s a real shame, but it had to be done.

Cou d you give some examples of the UK stocks you have dumped, and which European stocks you have moved that investment to?

 

Because that claim you made literally makes zero sense.  Especially the part about your European bolthole.  If you qualify for a citizenship outside of the UK post brexit, why would you need a residence within the EU now when you could just get one post brexit anyway? 

 

 

[tzijlstra 11]

I wonder where socialist comrade Car Boot is? Gone awfully quiet since Corbyn reiterated Labour’s position?

[L00b 441]

2 hours ago, crookesjoe said:

Cou d you give some examples of the UK stocks you have dumped, and which European stocks you have moved that investment to?

 

Because that claim you made literally makes zero sense.  Especially the part about your European bolthole.  If you qualify for a citizenship outside of the UK post brexit, why would you need a residence within the EU now when you could just get one post brexit anyway? 

 

 

I'll not reply on behalf of Pettytom, but simply highlight that-

 

-there is nothing complex whatsoever, about exfiltrating capital from the UK (deposits, UK-invested shareholdings, private pensions, etc.), whilst the UK is still an EU member state, wherein freedom of movement (UK<>EU27) of capital can still be relied upon ; and

 

-to my knowledge, there is no EU member state with a requirement of local nationality for local property ownership, so I'm not sure why you would tie EU27 property ownership (pre or post Brexit) with one's qualification for an EU27 citizenship (pre or post Brexit).

 

Post-Brexit, cheap housing is more likely to be found in the UK generally, and hotspots of Brit retirees in Spain and France (-going home because they can't afford to stay anymore), than anywhere else. As it happens, we'll be scouting properties in Spain this summer 

[I1L2T3 10]

2 hours ago, crookesjoe said:

Cou d you give some examples of the UK stocks you have dumped, and which European stocks you have moved that investment to?

 

Because that claim you made literally makes zero sense.  Especially the part about your European bolthole.  If you qualify for a citizenship outside of the UK post brexit, why would you need a residence within the EU now when you could just get one post brexit anyway? 

 

 

You don’t get this do you. People who have had the foresight and means to prepare have done so.

 

When it all goes down they will be fine. I include myself and my family in that group. Dual nationality sorted, we all have somewhere we could live, and a substantial proportion of funds diversified and moved offshore which is actually very easy to do. Two of my kids have already left. 

[crookesjoe 10]

26 minutes ago, L00b said:

I'll not reply on behalf of Pettytom, but simply highlight that-

 

-there is nothing complex whatsoever, about exfiltrating capital from the UK (deposits, UK-invested shareholdings, private pensions, etc.), whilst the UK is still an EU member state, wherein freedom of movement (UK<>EU27) of capital can still be relied upon ; and

 

-to my knowledge, there is no EU member state with a requirement of local nationality for local property ownership, so I'm not sure why you would tie EU27 property ownership (pre or post Brexit) with one's qualification for an EU27 citizenship (pre or post Brexit).

 

Post-Brexit, cheap housing is more likely to be found in the UK generally, and hotspots of Brit retirees in Spain and France (-going home because they can't afford to stay anymore), than anywhere else. As it happens, we'll be scouting properties in Spain this summer 

I asked him to specify which investments he took out of the UK, to reinvest into 'European'stock.

 

As for the rest  of your post, it's impressive you already know the terms and agreements of a Brexit which hasn't even happened yet.

[melthebell 862]

9 hours ago, Nightbird said:

Would some of these investments be in industries that exploit migrant EU labour by any chance? Yes indeed!

 

This is the absolute nub of it all; remainers painting themselves as the good guys when in fact the total opposite is true.

I'd have another look at which countries are exploiting which. I'll throw a few in China, UK, us, Malaysia, Taiwan, Hong kong

[I1L2T3 10]

29 minutes ago, crookesjoe said:

I asked him to specify which investments he took out of the UK, to reinvest into 'European'stock.

 

As for the rest  of your post, it's impressive you already know the terms and agreements of a Brexit which hasn't even happened yet.

The whole point is we don’t know the terms but will be no worse off for being prepared.

 

Ask yourself a simple question: what idiot would wait for the pound to fall below parity with the dollar or Euro before at least moving some funds out of sterling to hedge against that possibility.

 

We’ve been getting ready for over 3 years, even before the referendum.

[Top Cats Hat 10]

While Johnson and Hunt are banging on about the great post-Brexit business opportunities, Richard Branson is warning of a collapse of sterling in the case of no deal and the closure of many businesses. He warns that if the pound falls to parity with the dollar Virgin will have to pull out of the UK.

 

No doubt the usual suspects will be shouting ‘Project Fear’.

[crookesjoe 10]

10 minutes ago, I1L2T3 said:

The whole point is we don’t know the terms but will be no worse off for being prepared.

 

Ask yourself a simple question: what idiot would wait for the pound to fall below parity with the dollar or Euro before at least moving some funds out of sterling to hedge against that possibility.

 

We’ve been getting ready for over 3 years, even before the referendum.

Genuine question, what would be your criteria for the pound to have 'fallen below the euro or dollar'?

 

Also, still waiting to hear which UK stocks you have sold and reinvested in 'European stocks'?

 

 

[L00b 441]

1 hour ago, crookesjoe said:

I asked him to specify which investments he took out of the UK, to reinvest into 'European'stock.

 

As for the rest  of your post, it's impressive you already know the terms and agreements of a Brexit which hasn't even happened yet.

I see that you've answered the points which I raised with a strawman.

 

So you're not really here to discuss, are you?

 

Should you be, then feel free to cancel your strawman by explaining these 'terms and agreements of a Brexit which hasn't even happened yet' you're on about. Because there was nothing in my post relating to such 'terms and agreements', only effects of (still-)current EU membership.

 

For the avoidance of doubt, the last bit about real estate values in the UK and bits of Spain/France is not 'terms and agreements of a Brexit which hasn't even happened yet' (they're private market issues, nothing to do with a deal between the UK and the EU27). It's just common sense in a supply and demand context.

Edited July 11, 2019 by L00b