There are 11 million workers in Britain who assumed they had great pensions. The British Steel Pension Scheme is proposing to break its pension promises to its 130,000 members because they are losing money. Tata Steel is looking to sell its holding in its UK plants over the next few months, and that means that the £15bn pension scheme, that would normally be put into the general Pension Protection Fund, has been the slush fund for failed companies. So in other words, what they thought was a guarantee, will be nothing of the sort. Once government takes over anything, it just bleeds money.

Goldman Sachs is in a lawsuit for allegedly using prostitutes, fancy meals, and hotels to swindle the Libyan government in a $1.2 billion lawsuit. Now, before you condemn them, let me explain that New York City is not just the Big Apple — New York is the most unethical place, perhaps on Earth or at least in the top ten.

The legal shenanigans in NYC are also off the wall. Lawyers routinely hire girls to sleep with the opposing counsel to get info. Now, you might think this is limited to the private sector. NOPE! Inside sources confirmed to me that the Southern District of New York pays for “paralegals” whose main role is to sleep with the prosecutors. In turn, prosecutors have girls sleep with the defense counsel on legal spy missions.

Using seductive young women is standard operational procedure in many fields. Israel’s fearsome Secret Service best agents are hot women rather than the James Bond type. This is the standard new breed of super-spy.

I myself have had a girl email me at a private address, so at first I assumed I must have known her but forgot. So I was polite. At first, the email came from Canada as I traced it. Then it originated in Russia. The name remained the same. Suddenly, she claimed she loved me and was coming to the States the next week. I thought it was one of those internet scams where claims of love turn into asking for money to arrange some sort of deal. So I asked if she needed money. She said no. Then I figured, perhaps she wanted an invite for a visa. She said she had papers and sent me a copy of her passport.

With one day left before she was to get on a plane, I figured it had to be some sort of espionage attempt. She was astonishingly beautiful and one could easily see her as irresistible. So I told her if she had any problem to call a high-level person in the Russian government in the Department of Interior, who I knew, with extremely high connections all the way to the top. That was the last I heard of her. Very strange. I assumed someone was now trying to seduce me to get at my code. I suppose they tried the pain routine and it was time for the pleasure cruise tactic.

I will not mention the name of the country, but I was asked to open an office there and stock it with women so a certain royal head of state could visit the office and pretend it was for economic advice. I declined, even though I would have received more than $10 billion to manage the office.

Anna Chapman was a Russian Spy caught in New York City. She was swapped for American spies in 2010 and made headlines in New York. She was stunningly beautiful as well as stunningly successful. Well if you are going to betray secrets, this is far better than the rubber hose treatment.

Anna showed up in Ukraine to train with the soldiers leading the rebellion. She has become known as Vladimir Putin’s weapon of mass distraction.

So are the allegations against Goldman Sachs even plausible? Absolutely. Welcome to the real world under the covers espionage. This is a whole new definition to being “undercover.”

Based on the fact that the majority of big money trades fundamentally, we should expect the overall trend of the euro to rally against the pound. We can see that the euro has been strong, rising sharply, and we may yet see a further rally.

Keep in mind that the LONG-TERM projections are bearish for the euro against the pound and the dollar. Nonetheless, with the BREXIT vote, the bulk of major money will be caught on the wrong side. So they should believe the propaganda and then we should see the trend flip. This means the euro should first rally and then trap the majority before turning back down.

Here is the Daily Array as we approach BREXIT.

Private Blog Update Dow & Gold

Todays Asian equity weakness was both a spill-over from the weak Friday sessions but also strength in the JPY. From the opening bell we saw the Nikkei off over 1.5% and it literally could not recover. Among the areas that suffered most were exporters with losses around 4% for Nissan, Toyota and Sony. With BOJ meeting this week there is much concern rather than optimism surrounding the market. Dealers are hoping additional stimulus from the central bank will provide support but having seen a small Sales data miss today, we will need something quite different to provide the kind of confidence both Japan and the rest of Asia are looking for. The JPY was again a flight to quality when we briefly saw a 104 handle.

Weekend press was full of the BREXIT pensions reports, polls and opinions accusing the UK of voting to turn its back on the union. The late news on Friday, that the “leave” campaign were 55/45 in the polls, was the reason GBP lost 1.5% then and was heavy again this morning. The Euro held its price and let GBP go but the move into the USD that we have seen for the past two years certainly feels as though it has returned. It was noticeable that core European equities suffered as money runs from uncertainty. The DAX, CAC and IBEX were all off around 2% whilst FTSE side-stepped most with a decline of just 1%, given the GBP fall. No meaningful data today either in Europe or the US but we do have enough later in the week to look forward too.

US markets followed the pack opening lower but saw a rally in the DOW back into positive territory at one stage. However, given the global uncertainty for this week that was too much to ask for and we spent the rest of the day drifting lower. It really was not a good close as all US indices closed on the lows for the day. DOW, S+P and NASDAQ were all around 0.8% lower on the day. Still all to play for this week with central banks (BOJ, SNB and FED) all ahead of next week’s BREXIT vote and data as well (US Retail Sales tomorrow).

US Bonds are still witnessing the flight to quality (for the core) and a flatter curve. 2/10 closed this evening at +90bp, as 10’s were last seen at 1.61%. German 10yr Bund have yet to trade at 0% but traded mighty close today but close 0.02%; which closes the US/Bund spread at +159bp. The weaker stock markets saw peripherals falter in the dash for quality. Italy 10yr closed 1.45% (+7bp), Greece 7.65% (+32bp), Turkey 9.54% (+9bp), Portugal 3.19% (+12bp) and UK 10yr Gilts at 1.21% (-2bp). Peripherals are concerned that IF the BREXIT vote is successful it will start a domino effect with many looking to leave. The Senior Financials Index (CDS on 30 banks) lost 6% today, the most it has moved in months.

The propaganda to keep Britain in the EU is highly dangerous and an outright fraud upon the British people. On June 23, the people of Britain will decide whether to exit (BREXIT) the European Union. The outcome of this historic vote will determine Britain’s future. This is an incredibly important vote for it will determine the fate of, not just Britain, but Europe as a whole.

This special “BREXIT” report answers many of the questions surrounding the vote and explores the historical patterns that have a tremendous impact on where we go from here.

This vote will decide the fate of Britain and Europe, and will also directly impact the trend in global currencies that will impact the United States and the fate of the dollar.

The report covers Britain and its 309.6-year cycle as well as provide the forecast for the British pound and the euro/pound cross rates.

Purchase the “Brexit” report — $250

We provided this chart in our BREXIT Report which says it all. For all the scare mongering how Britain will be worse off if it leaves the EU, this chart demonstrates how the politicians are lying. Britain has seen only declining economic growth since it joined the EU and these are the British government’s own numbers.

Caution will be necessary. If Britain leaves and they cannot cover up that much against the EU, then the pound will survive and the Euro will witness a contagion begin as other states will be driven to hold referendums.

What nobody wants to talk about in the press is how Merkel’s decision to let in the refugees was unilateral. She has fought for the federalization of Europe, but went and made a decides that binds everyone. Girls are being raped in Sweden and Germany. This whole this is a real crisis. Calling those against it racists just demonstrates how abusive these politicians are to defend their mistakes. The refugees are not a race, it is a religion.

German Finance Minister Schäuble is touted to replace Merkel. Like other politicians of his age, he too is just in a state of denial. Despite the fact that 2/3 of Germans are fed up with Merkel over the immigration issue, Schäuble is calling for more immigration into Europe. Otherwise, Europe will “degenerate into [an] inbred” continent. Once a career politician has an idea in their head, they will defend it to the end. I suppose this is why they defend the refugees when they rape European girls.

Meanwhile, the United States has issued a travel advisory for all Americans to warn them about traveling to Europe this summer.

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