On top of the vulcano: Before the British Default

Britain is celebrating. The marriage of the prince William and Kate.[1] The Olympics while Greece is collapsing.[2] The diamond jubilee of the queen.[3] The London City with its exuberant financial institutions and bonuses.[4]

At the same time the country is falling back into recession.[5] And it will be a deep recession[6] which it will be facing.[7] As the European financial center it will be the focal point of the fallout of a global financial crisis triggered by ruthless bankers[8] and hedge fund managers in London aiming to become masters of the universe.[9] Bet and loose, not bet and win will be this time the rule.[10]

At the same time another resource of British wealth is drying up rapidly. North Sea oil production rapidly steadily falls after the peak oil point has been reached twelve years ago.[11] Britain will be squeezed from its two major sources of major revenues, oil and finance.

The British conservative elite do not realize what is going on. They are deeply entrenched in their political affairs and scandals. The British are without a sensible captain and they are facing heavy storms in front of an unprecedented financial cliff. Clive Palmer an Australian billionaire will have to hurry up to build the Titanic II.[12] The real Titanic 2.0 is Britain itself.


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