Posted Dec 24, 2019 by Martin Armstrong
QUESTION: Dear Martin,
I am a follower of your blog since I saw your film on a plane coming back from the US. Recently I purchased access to the private blog because I find priceless the nonbiased information you share with us.
I am a middle-class European guy, with no investment, only a bit of money on the bank. I read your post about currency canceling in 2021 and got really scared.
It is really difficult for me to open a bank account in the US, so I tried to move money to an online bank in the UK and put it in US dollars.
My question is: Would it be enough to move money from a Spanish bank to the UK and put it on a US dollar basis? Or the UK will not be safe anyway…
Thank you so much for what you do. Reading your blog is the best way to open the mind…
ANSWER: Now that the British election took place and the Conservatives won a majority, it is safe to say that the UK will leave the EU. So there should be no problem with the British banks getting caught up in the overall banking crisis in the EU. The Bank of England is independent of the ECB and will act accordingly to the domestic economy. The issue is inside the Eurozone.
Tags: Bank of England, Brexit, UK