Posted Oct 28, 2014 by Martin Armstrong
The EU Commission is demanding that Britain pays them almost £2 billion pounds because their economy has boomed while that controlled by the Commission has imploded. An angry David Cameron was on a collision course with the European Commission this afternoon as he flatly refused to agree to a demand that Britain hand over an extra £1.7bn by December 1st.
I have reviewed the numbers. Indeed, clients for decades will recall that the first shocking forecast that Socrates first spit out back in 1980 was the (1) Britain’s economy would separate from that of Continental Europe and move in alignment with the USA 180° counter to Europe. (2) that the pound would fall to par against the dollar going into 1985.
I delivered that forecast when I had appeared on FNN (Financial News Network) with Walter Bressert before it was acquired by CNBC. It was that first forecast that so stunned me. it necessitated the whole development of a verbal inquiry. I had to be able to communicate with the computer to understand how it could possibly make such a forecast.
The host was shocked and turned to Walter asking him what did he think of that forecast. Walter replied he would not argue with our computer. Here we are about 34 years later and what we have is this demand from the EU that Britain must pay them by December 1st simply because it has been the ONLY economy to boom. Why – it stayed out of the Euro, Socrates was right and with hindsight, we can see just how right its has been.