On a cold January morning, Gordon Bean, British Prime Minister looked contendedly out of the window at Number 10 to see the deserted street outside. All was quiet, just how he liked it to be. Yes there were funding scandals simmering on in the media, and the polls were not as good as they might be, but – hey, the task of delivering Britain into Europe, of ending the nation’s existence, once and for all, was going to be his to carry out. And it would now not be long before he would deliver the Lisbon Treaty through Parliament. That was the important thing.
He’d frustrated Tony’s attempts to get rid of the Pound Sterling for ten long years, blocking at every turn his attempts to yield Britain’s independence via her currency. Funny, he mused, how even intelligent media commentators had misread this as a eurosceptic tendency. No, the whole idea, all along was that it would be his name in the history books, and not Tony’s as the man who had the power to sign Britain away. He let Tony survive in power just long enough to get all the pieces for the ultimate betrayal into place, and then as he could have done many times before, if he had wanted to, Gordon had finally pulled the rug from under Tony’s feet, just in time for him to be the one to fly to Lisbon in Tony’s place.
With the ultimate betrayal practically secured, Gordon mused, he could ignore trifles such as opinion polls, and even general elections. The government of the UK would be a pretty meaningless concept in future, and only a role in the EU will carry much weight. And as the man who had delivered the corpse of Britain on a platter to the EU, Gordon was sure that a prime position would be bound to be reserved for him.
David Cameron’s attempts to stop the Constitution had been surprisingly strong, especially in September, when the Murdoch media and especially The Sun had fallen in behind, if not had led the campaign to demand a Referendum on the Lisbon Treaty. But Gordon had got the Regulator to threaten Murdoch with the loss of his ITV shares, and expose BSKYB to some real competition, and the Murdoch revolt was crumbling away, as he scrambled to save his media privileges.
‘I guess Murdoch wants to get himself off the leash,’ chuckled Gordon, ‘but he’s a mere pawn in my power.’
Gordon walked back into the office where the secretary was looking for him and asking if he would take a call.
‘who is it?’ he asked impatiently.
‘It’s the Bank of England, Prime Minister,’came the reply.
‘What do they want?’ he snapped back.
‘Prime Minister, it’s the Bank. will you take the call?’
‘Oh very well then.’
‘I’m sorry to tell you, Prime Minister, but there re two more building societies close to collapse. The interbank markets are unwilling to lend to them at commercial rates, and they need short-term funding to get them through the next two to three months. We don’t have enough funds without getting clearance. It’s a big figure, I’m afraid.’
‘How much is required this time?’ snapped Gordon.
‘Well Prime Minister because we have set the precedent now with the Northern Rock, and guaranteed to protect all savers and banks, we might need another UKL 200 billion of surety to provide enough support to be sure of reassuring or replacing the lenders. It purely depends what view they all take, but with the panic this is likely to set in train, I feel that the figure is going to be on the higher rather than the lower side. The markets are already rattled after the Northern Rock, and lenders are getting scarce. I’m afraid that fear is taking over, and unless we stand surety for the lot, there could be a collapse. It is my duty to make sure that you understand the severity of the situation, Prime Minister, and set measures in place to cope with this immediately.’
‘But that’s impossible. I’ll need to have more information first, and to call a meeting with Alistair, and get more opinions as to what would be the best..’
‘But Prime Minister, we don’t have much time. I’ve got about an hour to make a statement. The two organisations are here and waiting, and we need answers now. Can I go ahead and provide the necessary guarantees, and raise the funds?’
‘But we might prefer to nationalise the banks.’
‘Then we need a decision Prime Minister if that is your wish. It will require adding another UKL 200 billion to the national debt if you do. Is that wise? The Pound is already falling daily on the foreign exchange markets. The fall could turn into a rout, sending inflation and interest rates through the roof. I think the cheapest and best option is to reassure the markets and get them to start working again.’
‘If only we’d pushed for the Euro earlier, we wouldn’t be in this mess.’
‘If we’d been in the Euro Prime Minister, our property prices would be double where they are. The level they’re at now is unsustainable as it is. Prices are falling. Borrowing costs are rising. It’s all pressuring consumers into a very defensive mood. It’s not a solution, Prime Minister. Shall I call back in an hour, or would you be prepared to meet to reach a decision?’
‘We cannot possibly meet. The media would be onto it in minutes’
‘Prime Minister, the media are going to know about this in an hour’s time whatever we do or don’t do. Wouldn’t it be better to be seen to be getting something done, to calm the markets?’
‘I’ll call you back.”
Big Ben struck the half hour. Gordon thought – oh well, we’ll still have the EU in charge before long. Who cares if the Pound collapses. I’ve done what I had to do, to keep the economy humming, lulling the country into a false sense of security whatever the risks, until the moment we could close the trap-door. It’s too late for them now anyway. ‘Get me a coffee,’ he cried, triumphantly pacing through to the kitchen.
‘I just wonder,’ he thought to himself, ‘we might need some of those gold reserves….mmmmm, oh yes, the gold reserves…..I’m sure I put them somewhere….’
Read of a real life parallel HERE.
(GOLD – Gordon sold half of Britain’s gold reserves at $350 per ounce. $1000 an ounce and higher is not far away. Some forecasters are predicting $3000 an ounce plus. What Gordon forgot is that gold can rise ten times or more in a financial crisis. In 1970 gold was $30 dollars an ounce. In 1980 it hit $850.
Then came Thatcher and Reagan and confidence and stability returned to world markets. Only while Gordon’s been in control, has the rot returned, with a little help from Alan Greenspan – although the situation Britain faces is far worse than that in the US, with so much of her economy dependent on the financial sector. In Pounds gold’s rise is going even faster)