European Union

While the Bank of England voted unanimously 9-0 to keep rates on hold at 0.5%, what the market was far more focused on the BOE's latest gloomy scenarios about what would happen should the UK vote for Brexit on June 23. The BOE did not disappoint, and cautioned that that sterling could fall "sharply" and unemployment would probably rise, while in the press conference after the announcement BOE governor and former Goldmanite Mark Carney went all the way warning Brexit "could possibly lead to recession."

Submitted by Justin Raimondo via Anti-War.com,

I was struck by a tweet from libertarian Republican congressman Justin Amash, who has become the “new Ron Paul” now that the three-time presidential candidate and libertarian icon has taken a well-deserved rest from politics. The other day he tweeted:

“Patriotism & nationalism are profoundly different. Patriotism is love of country. FA Hayek called nationalism ‘a twin brother of socialism.’”

Following months of appeasement of Turkey's dictator Recep Erdogan, Europe has found itself surprised that as it yields to every incremental demand, Turkey simply asks for more and more. One such example was chronicled by the FT earlier today in "Turkey demands EU hands over €3bn for refugees" in which we read that "a row has erupted between Turkey and the EU over billions of pounds in aid for Syrian refugees, casting fresh doubt on a fragile deal to halt the flow of people towards Europe."

Following PM David Cameron's 'world war 3' warnings last week, Chancellor George Osborne joined the 'Project Fear' bandwagon today saying that Treasury is doing "quite a serious amount of contingency planning" into how Britain would deal with leaving the EU, warning of "very significant financial volatility" around the vote.

Mr Osborne denied he was "fiddling the figures" as he firmly defended an official Treasury analysis which set out the potential damage to the economy that could be caused by Brexit.

Submitted by Judith Bergmann via The Gatestone Institute,