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UK politics - Hamsterwheel

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UK politics - Hamsterwheel

Old 25th Jun 2018, 19:46
  #14681 (permalink)  
 
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Jetex_Jim, you'll be into chemtrails next!
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Old 25th Jun 2018, 20:06
  #14682 (permalink)  
 
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Originally Posted by Jetex_Jim View Post
The former Ukip leader placed bets against the pound during the EU referendum.

Imagine that, a true patriot like Nigel Farage 'shorting' the Pound.
I'll make a wager. I'll bet you can't provide a verifiable source for your claim.
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Old 25th Jun 2018, 20:31
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Originally Posted by sitigeltfel View Post
I'll make a wager. I'll bet you can't provide a verifiable source for your claim.
https://www.bloomberg.com/news/featu...beat-the-crash

https://inews.co.uk/news/brexit/nige...s-short-pound/
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Old 25th Jun 2018, 20:42
  #14684 (permalink)  
 
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Originally Posted by sitigeltfel View Post
I'll make a wager. I'll bet you can't provide a verifiable source for your claim.
I've seen it on Twitter, that's even more true than if it'd been written on a bus!
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Old 25th Jun 2018, 20:46
  #14685 (permalink)  
 
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LBC are carrying the story. (Mind you they have given Farage a show)

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Old 25th Jun 2018, 20:57
  #14686 (permalink)  
 
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Originally Posted by Jetex_Jim View Post
LBC are carrying the story. (Mind you they have given Farage a show)

https://twitter.com/LBC/status/1011197265132826624
You claimed that Farage took the short position, now you are posting up links saying that it was others doing it.

Which is it?
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Old 25th Jun 2018, 21:05
  #14687 (permalink)  
 
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There was a chemtrail written in the sky saying it! (But then, it was in Bavarian German so that's why we didn't understand it!)

Last edited by Trossie; 25th Jun 2018 at 21:19. Reason: Typo: "wa" should have read "was".
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Old 25th Jun 2018, 21:12
  #14688 (permalink)  
 
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Originally Posted by sitigeltfel View Post
You claimed that Farage took the short position, now you are posting up links saying that it was others doing it.

Which is it?
The Bloomberg story makes it clear how Farage influenced the markets.

Do really you need me to join the dots for you?
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Old 25th Jun 2018, 21:17
  #14689 (permalink)  
 
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Go on, join up the dots for us.
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Old 25th Jun 2018, 21:21
  #14690 (permalink)  
 
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I suppose this will be the point where Bloomberg joins those news sources that are deemed inadmissable on Jet Blast.

Others include, The Guardian (naturally) The BBC, Channel 4, The Independent, The Financial Times, The Economist... I'm sure there's a few more.

Last edited by Jetex_Jim; 25th Jun 2018 at 22:03.
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Old 25th Jun 2018, 21:24
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Originally Posted by Trossie View Post
Go on, join up the dots for us.
You don't even have to read anything. You can just watch the video clip in post UK politics - Hamsterwheel
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Old 26th Jun 2018, 01:11
  #14692 (permalink)  
 
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Originally Posted by Jetex_Jim View Post
Like the man said, "Follow the money."
https://www.bloomberg.com/news/featu...beat-the-crash




The former Ukip leader placed bets against the pound during the EU referendum.

Imagine that, a true patriot like Nigel Farage 'shorting' the Pound.
Good conspiracy theory but the polling was showing Remain win. So any hedge fund that was relying on opinion polls to make a mint would have come unstuck.
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Old 26th Jun 2018, 01:59
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Originally Posted by BAengineer View Post
Good conspiracy theory but the polling was showing Remain win. So any hedge fund that was relying on opinion polls to make a mint would have come unstuck.
Surely that simply depends on which way they are betting..this is how in part the Daily Mail reports it:

Bloomberg suggests he may have already been told the results of a poll carried out by Survation and sold to hedge funds which correctly predicted Leave had won the day.

Mr Farage strongly denies any claim of deliberately trying to sway markets, telling MailOnline that 'of course' he did not try to mislead people by conceding defeat.

When Brexit was eventually declared the winner later that night the pound was sent tumbling - meaning hedge funds which had bet against the currency made vast amounts.
http://www.dailymail.co.uk/news/arti...ake-money.html
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Old 26th Jun 2018, 02:24
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Originally Posted by wiggy View Post


Surely that simply depends on which way they are betting..this is how in part the Daily Mail reports it:


So that is saying that some hedge funds bet on Leave winning and some on Remain winning - those that bet on Remain lost money. Surely you wouldn't expect anything else to happen?.

The only way the original story in Bloomberg can be true is if the polling companies sold the hedge funds different polling results from the ones they sold the newspapers.. If that is the case then there is a far bigger story than Farage making a few bob. FWIW the last 2 Survation polls before the vote (for release to the media) both show Remain winning. So if there was a conspiracy Survation had to be in on it... it grows by the hour..
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Old 26th Jun 2018, 04:38
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Writing for the Daily Mail Ian Duncan makes it nice and simple.

How in-the-know traders made hundreds of millions from vote

Analysis

By Hugo Duncan

Hedge funds betting on Brexit cashed in as the pound and share prices tumbled following the vote to leave the European Union.

At 10.52pm on referendum day, sterling rose above $1.50 for the first time in six months after Nigel Farage conceded defeat and predicted that Remain had won.

But behind the scenes speculators still confident of a Leave victory were stacking up giant bets against the UK currency and British companies, which were seen as likely losers following a vote in favour of Brexit.

As the results started to come through their bets paid off as the pound dived to $1.32 in one of the largest falls of any major currency since the birth of the modern global financial system.

Many of these investors had hired polling companies and bought voting data in order to profit from the referendum, according to an investigation by Bloomberg.

This information put them in the perfect position to profit from the market turmoil and falling pound.

Among them was hedge fund tycoon and Brexit backer Crispin Odey, who commissioned a private poll from YouGov ahead of the referendum to steal a march on the financial markets. Mr Odey made more than £220million for himself and his investors in the immediate aftermath of the referendum, declaring at the time: ĎI think I may be the winner.í

His gains came as sterling tumbled as the results of the referendum came through the early hours of June 24, 2016.

The pound dipped after midnight when Newcastle voted for Remain by a much narrower margin than expected. Anyone shorting sterling was already ahead a
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Old 26th Jun 2018, 04:41
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It's touching to see the Brexit gang springing to the defence of their hero Farage.
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Old 26th Jun 2018, 05:33
  #14697 (permalink)  
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Originally Posted by Jetex_Jim View Post
Writing for the Daily Mail Ian Duncan makes it nice and simple.
Thank heavens for the Mail !......simplicity is the key here because, alas, some contributors find the complexity of the Guardian difficult to grasp poor souls..

Continuing with the theme of simplicity therefore, the term "wafer thin margins" for which G/A has a long standing notoriety, can also be difficult to grasp, but, thankfully, there is a simple answer in the form of one individual upon whom all the blame can be attributed. .

https://www.theguardian.com/politics...of-brexit-vote
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Old 26th Jun 2018, 06:17
  #14698 (permalink)  
 
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I smell a conspiracy. A conspiracy to talk about Farage. Why? To get attention away from Labour.

There are constant talks about splits in the Conservative Party, but this ignores the chasms in the Labour Party. 8 Tories voted against their government's policy last night. That is small, a crack. More Labour MPs voted on the government's side than voted on the Labour Party's side. That is far, far bigger than a split, that is a chasm!

Can Labour recover? Are they fatally wounded? Is this one of those moments where voting against their leadership starts to build up some momentum? (Funnily appropriate word that!)
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Old 26th Jun 2018, 06:21
  #14699 (permalink)  
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So, to summarise. financial companies paid privately for research into the probable result of the vote. Those that paid for polling data from the one polling company that got it right made money - those that didnít lost money.

Paying for such research polling data data is Normal - itís how polling companies make money - but is still a gamble.

Keeping the data is secret is not only sensible, after all they paid for it to try and get an edge on the market, but was also legally required - under the law such polling data cannot be made public in the day before or on the day of the vote.

Shick horror!! Brexit backing hedge-fund manager bets on vote being for Brexit and makes money........
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Old 26th Jun 2018, 06:23
  #14700 (permalink)  
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Trossie - Labour had a free vote - no whip.
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