Evil Knievil: It is nonetheless money
I hesitate to call Heseltine an idiot but he is certainly deceitful. He keeps going on about Brexit being a disaster when he must know that many Brexiteers so voted simply to allow us to govern ourselves – Britain has developed our preferred democratic system over this last 1000 years.
It might have been different had the EU demonstrated the rudiments of democratic control over the Commission. But at this it has consistently failed. It is therefore deceitful for Heseltine not to consider this point when declaring an imminent disaster.
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I spoke briefly to Francesco Gardin, CEO of Clear Leisure (LON:CLP), in Italy this morning. He is optimistic for the future and therefore I reckon yesterday’s announcement of the formation of Miner One Limited is merely the start. Investors have pooh-poohed making a few bob on Bitcoin mining. But although it will not be big money it is nonetheless money. CLP is now 1.1p offer.
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It is sinking in that Caribbean Investment (LON:CIHL) is cheap at 23p even though I overegged the second half prospects through assuming a comparable bad debt recovery figure. I suspect that Lord Ashcroft is going to get this all tidied up. And possibly Waterloo Investments as well.
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Finally, I hear that Sage (LON:SGE) has run into trouble, now at 795p. More follows.
Hard to justify the term ‘deceitful’ unless you believe that Heseltine thinks BREXIT will be a triumph. While it’s possible it may be a ‘success’ in the long term there is likely to be a major negative impact on the UK economy in the short term (i.e.: next decade). I suspect many of the people who believe BREXIT is taking back sovereignty did so in blissful ignorance of the likely economic impact.
I think the sovereignty that some Brexit voters seek to restore is illusory. Sovereignty is the right to make ones own national decisions without the need to be subordinate to another political entity. China, America and Russia are in that fortunate position we have not been since Dunkirk. This was underlined with America ejecting us from the nuclear club and made clear at Suez.
Sir, At the moment we are “subordinate to another political entity” – the EU. The first part of your sentence is correct, namely, “Sovereignty is the right to make ones own national decisions” full stop. This is why the majority voted to leave as want no part of the borderless post-national, post-Christian superstate envisioned by Sutherland, Delors & co purely in the interests of globalisation, the multi nationals & vast layers of a new political class
Sovereignty: one can argue that, unless you act like North Korea, a country has to share power in the form of co-operation and treaties.
With the EU, the differences are that:
* we concede law making to EU bodies, at times against our will (qualified majority voting)
* we defer to the jurisdiction of EU courts
* in both contexts, the laws are at times difficult to apply, given the civil law nature of all EU states except UK and Ireland.
It is a matter of judgement, taking account of the benefits of EU membership, whether or not we should give up such ‘sovereignty’. There are respectable views either way.
Looking ahead, I suggest – for the benefit of EU states – the EU will have to integrate more closely: a common treasury and co-ordinated tax & spend policies. Implicitly all EU members will have to adopt the Euro as a currency. Again, it is a matter of judgement whether or not UK would benefit from this.