Welcome to Finance and Fury, the Furious Friday edition.

Today we are discussing what is happening with Brexit?

At the time of the release of this episode, we will be approaching the 11th hour of the 2nd deadline to negotiate a deal for the UK to leave the EU. Why would it be grim and awful as they put it?

Today:

Start at the beginning:

  • The referendum to leave the EU 23rd June 2016
  • Between then and March of 2017 it was business as usual, and then the UK served their withdrawal notice
  • Invoked article 50 of the Treaty on European Union which sets out a 2 year plan to leave the EU
  • That negotiation period expires on the 12th of April 2019
  • The leaving agreement must set out arrangements for withdrawal
  • The agreement must then go through a few bureaucratic systems

So what is behind all the mess?

  • UK conservative party lead by Terresa May
  • They established the department for International Trade (DIT)
  • There has been a lot of back and forth between the UK and the EU
  • The UK is being made an example of
  • 2 years down the track, where are we now?
  • The EU has been the better negotiators even though the UK is in the position of power
  • The contents of this agreement are only that it sets up a transitional period of further deliberation to be in the EU until December 31st, 2020
  • This is essentially the UK still being apart of the EU but without a vote
  • How has the deal been going in UK parliament?

 

Failure to negotiate:

  • Article 50 provides for a negotiated withdrawal
  • If there is no deal, The EU treaties cease to apply
  • The EU technically can’t block them from leaving
  • If there is no agreement, then trade falls back onto the world trade organization rules on tariffs and trade
  • The EU operates similarly to a cartel
  • What is Gibraltar?
  • The financial sector seems to benefit more from being a part of the EU
  • Why is it so beneficial for Financial services to be a part of the EU?
  • The UK is now ranked the 2nd largest global conduit for corporate tax haven policies

 

Summary of the racket:

  • Firms will set up a letterbox office in the City of London
  • Then there will be subsidiaries in other EU countries
  • One charges the other for intellectual property, and you essentially write off profits
  • You have other countries wanting to do trade deals with the UK, without going through the EU

 

Next Friday:

  • Finish off the series
  • How the tax racket works
  • Who is behind the “grass roots” remain protest organisations

Thank you for listening, if you want to get into contact you can do so here

How do you identify a scam, before ASIC or the regulators do it for you?

Welcome to Finance and Fury, The say What Wednesday edition where we answer your questions, and sometimes questions from people from the gym – such as today Is this a scam – moneysmart have a page on this – which is good resource – give a quick summary of this – but...

Should I switch my investments from High Growth to Conservative and why store gold personally instead of a vault?

Welcome to Finance and Fury, the Say What Wednesday Edition Back to answering individual questions - Two questions this week – follow up to recent episodes on gold and economy First from Mario – just a quick one - I listened to a recent podcast you made about gold and...

What happens when a family trust comes to the end of its life? What happens with the assets and are there CGT or stamp duty liabilities?

Welcome to Finance and Fury, The Say What Wednesday edition.  Today's question comes from Gab. Hi Louis, thank you (as always) for the great content. I've got another question that I've struggled with recently, and I'm hoping you can shed some light on the topic. I've...

Who should I vote for?

Welcome to Finance and Fury, the Say What Wednesday edition Had a few questions recently which is topical. Mostly from friends and family. They know I take interest in politics and policy, and asked me “Who should I vote for?” Can’t tell you that, nor I did them...

Why the Australian Share index is so reliant on just 5 companies and the risks that this brings

Welcome to Finance and Fury Today we are discussing the concentration risk Last week – how the modern banking system acts like dominos failing– Due to their liabilities and obligations to one another this week – look at the other side of the balance sheet – Which is...

How do you know that the share markets are likely to be in for a collapse?

Welcome to Finance and Fury Last week - The lead up of markets in relation to complexity theory – phase transitions and feedback loops in markets https://financeandfury.com.au/how-to-analyse-share-markets-by-treating-them-as-a-complex-system/ Today – look at the...

How to be wealthy; Germs, Monopoly, and Competition Vs Cooperation

Episode 2 How to be wealthy; Germs, Monopoly, and Competition Vs Cooperation. Hey guys, and welcome to Finance and Fury. Today the misunderstanding we're going to be tackling is how to be wealthy. There seems to be a lot of “rich-hating” going on around at the moment,...

Should I fix my home loan interest rate?

Welcome to Finance and Fury, the Say What Wednesday edition. This week’s question is from Charl regarding his home loan. “My bank is currently offering a 2.29% interest rate on a 3-year fixed loan. I am currently on a 2.99% Variable rate with them and am considering...

Death and taxes, or taxed to death?

Welcome to Finance and Fury A plan for structural reforms to help increase Australians’ ability for upward mobility. The coalition will likely have enough seats to squeeze through a lot of reforms. Today: Income axes going up aren’t much of a concern What about the...

(Intro Series) What does your retirement look like, and why?

Intro - Episode 5 What does your retirement look like, and why? What do you normally think about before you go anywhere? Anyone who has ever left the house before has probably had to think about something before taking a step out the front door. Anyone who hasn’t,...

Pin It on Pinterest

Share This