BC BREXIT
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🚨🇬🇧🇪🇺🚛🍤🐟🥬📦✈️🇬🇧🇪🇺🚨
So here it is. After the euphoria, the @FinancialTimes @FTMag long read of how @BorisJohnson did his Trade deal with the EU. Tl:dr...not so much “build back better”, more “build back the borders” - stay with me/1.

 @FinancialTimes @FTMag @BorisJohnson The really under-appreciated part of this story is the extent to which the Johnson government, having won its 80 seat majority promising to "Get Brexit Done" then explicitly and actively chose the hardest possible version of #brexit in defiance of commercial interests /2
@FinancialTimes @FTMag @BorisJohnson Our story begins in January last year when David Frost commenced what Whitehall insiders call a "Star Chamber" process to strip away anything that might be considered more than a "Canada-style" deal - regardless of the fact that UK doesn't trade with EU like Canada! /3
@FinancialTimes @FTMag @BorisJohnson So what did that mean in practice?

Well, for example leaving EU aviation safety agency (EASA); Chemicals agency (ECHA), not getting a waiver of 'safety and security' declarations for hauliers, not seeking special arrangements for animal products...on and on it goes /4
@FinancialTimes @FTMag @BorisJohnson Didn't industry object? Well yes it did - but those who yelled too hard found themselves shut out of the door.

Did Whitehall object? Yes it did - Defra and Beis and Treasury all tried at some level to temper the revolutionary fury. But mostly failed. /5
@FinancialTimes @FTMag @BorisJohnson I recall reporting at the time that the haulage industry just couldn't believe, given 10,000 trucks a day crossed the Channel, that the UK gov wouldn't want a waiver on Safety & Security decs....a waiver Norway and Switzerland have. But no. Only Canada./6
@FinancialTimes @FTMag @BorisJohnson Some did belly-ache. I recall this amazing letter from @PauleverittADS about the government's promise to consult over EASA membership...and then announcing it had decided anyway. Objections were just batted away.... /7

https://t.co/DE5wV3HNH6
@FinancialTimes @FTMag @BorisJohnson @PauleverittADS As @GeorgeWParker - brilliant steward of this piece - reported back in January 2020, industries were told they were in "secular decline" - and who could forget @afneil telling @MakeUK_ conference that No.10 thought 3D printing was the answer /8

https://t.co/kYX7jOn8n9
@FinancialTimes @FTMag @BorisJohnson @PauleverittADS @GeorgeWParker @afneil @MakeUK_ To be fair, no secret was made of this - @DavidGHFrost went to Brussels and gave a speech in which he said industry was exaggerating...the next few years will show whether he was right. Doesn't feel that way to fishermen like Ian Perkes./9

https://t.co/1kLxFovh1U
@FinancialTimes @FTMag @BorisJohnson @PauleverittADS @GeorgeWParker @afneil @MakeUK_ @DavidGHFrost I should add a side-note here on services, which where already pretty much forsaken because of ending free movement - but the City knew that battle was lost. One exec observes Tory party is "controlled by ideologues" that put sovereignty over the economy. /10
@FinancialTimes @FTMag @BorisJohnson @PauleverittADS @GeorgeWParker @afneil @MakeUK_ @DavidGHFrost The brutal paring back of ambition created an unprecedented inversion of what trade talks are about - growing trade.

So that 'success' defined by @BorisJohnson's own terms - landing a Canada-style deal - meant the constriction of trade. We slipped through the looking glass./11
@FinancialTimes @FTMag @BorisJohnson @PauleverittADS @GeorgeWParker @afneil @MakeUK_ @DavidGHFrost It is true that the 'deal' is better than a 'no deal' would have been, but this was a barebones deal that was done with heads deliberately stuck in the sand. Damage assessments were not done. “Someone would occasionally proposedoing the work and everyone would say: ‘No.’”

Wow/12
@FinancialTimes @FTMag @BorisJohnson @PauleverittADS @GeorgeWParker @afneil @MakeUK_ @DavidGHFrost I wonder if any company CEO, or headteacher, or hospital administrator or bus driver or cafe owner proceeded on this basis...how long would they keep their job before being struck off, or suffering a shareholder revolt, or going bust? Could you do it in a normal walk of life? /13
@FinancialTimes @FTMag @BorisJohnson @PauleverittADS @GeorgeWParker @afneil @MakeUK_ @DavidGHFrost The negotiation itself was successful on its own terms - the UK did indeed get a skinny deal, walking into the 'elephant trap' that Sir Ivan Rogers had set out in Christmas 2019 - and neatly summarised here by @AntonSpisak

https://t.co/vH7H8p44zZ
@FinancialTimes @FTMag @BorisJohnson @PauleverittADS @GeorgeWParker @afneil @MakeUK_ @DavidGHFrost @AntonSpisak When the endgame came - wonderfully reported by my Brussels colleagues @jimbrunsden @Sam1Fleming - the UK gave up even on the 'extras' it had asked for on professional services and 'cross-cumulation of rules of origin' for carmakers.../14

https://t.co/fNX50cPPKu
@FinancialTimes @FTMag @BorisJohnson @PauleverittADS @GeorgeWParker @afneil @MakeUK_ @DavidGHFrost @AntonSpisak @jimbrunsden @Sam1Fleming As time wore on, the UK deployed its 'madman' strategy - not even @BorisJohnson knew if he'd go for deal or no deal - and there were times when there was so little strategy you wondered if that was actually true. I never spoke to EU folk who believed he'd do no deal fwiw /15
@FinancialTimes @FTMag @BorisJohnson @PauleverittADS @GeorgeWParker @afneil @MakeUK_ @DavidGHFrost @AntonSpisak @jimbrunsden @Sam1Fleming There was that small matter of the threat to break international law...which UK negotiators believed shook things up, but on EU side, only seemed to push Berlin behind Paris in demanding tough 'ratchet clauses' etc. And damaged our world standing /16

https://t.co/o88fnMkQKy
@FinancialTimes @FTMag @BorisJohnson @PauleverittADS @GeorgeWParker @afneil @MakeUK_ @DavidGHFrost @AntonSpisak @jimbrunsden @Sam1Fleming But @BorisJohnson got his deal, barebones as intended - and then told everyone that it contained no "no non-tariff barriers to trade" - and that wasn't an off-the-cuff remark. Watch the tape at 7m.29s, he's reading a text /17
https://t.co/FPP3IgFHLH
@FinancialTimes @FTMag @BorisJohnson @PauleverittADS @GeorgeWParker @afneil @MakeUK_ @DavidGHFrost @AntonSpisak @jimbrunsden @Sam1Fleming That means that someone in No.10 actually wrote that down. They put it into an approved text when they must have known it not to be true. Perhaps @BorisJohnson wrote it himself, but that really is an alternative fact.

Odd to be so proud of a Canada deal, then disown it. /18
@FinancialTimes @FTMag @BorisJohnson @PauleverittADS @GeorgeWParker @afneil @MakeUK_ @DavidGHFrost @AntonSpisak @jimbrunsden @Sam1Fleming And so what about the future? Yes, we'll suffer some frictions burns at the border now, but that will open the door to a sea of opportunity etc... @ColdChainShane says trade will be "slower, more expensive and
less flexible"...but the upside seems less clear. /19
@FinancialTimes @FTMag @BorisJohnson @PauleverittADS @GeorgeWParker @afneil @MakeUK_ @DavidGHFrost @AntonSpisak @jimbrunsden @Sam1Fleming @ColdChainShane Still. What's done is done...what it will mean for the future - politically and economically - is still very unclear. At some level, the architects of this deal must know - amongst all the cries of freedom etc - they've created a lot of burdens for a lot of people. Now what? ENDS

More from Peter Foster

Peter Foster
Peter Foster
@pmdfoster
NEW: 🚨🇪🇺🇬🇧🚛🚚🍤🐟🚢🇬🇧🇪🇺🚨 Building of Brexit border posts faces delays via...industry calling for delay to July 1 U.K. #brexit border roll out - my latest via ⁦@FinancialTimes⁩

This goes back to last year, when UK gov got £430m of bids for new Border Control Posts and only funded £194m worth - and those bids that won took a 33pc 'haircut'. Result, everyone unhappy - those that got nothing, and those that won, got not enough

The result is that ports looking to build BCPs to accommodate new border coming in from July 1 say they haven't got enough money. They want either delays to border on July 1, or flexible implementation. /3

So as @timgmorris of @UKMajorPorts group tells me: “We need urgent action from the government to show flexibility either on the July 1 deadline or what is required on that date....or accept potentially serious implications for traffic flows this summer." /4

@timgmorris @UKMajorPorts As @richard_bpa of @britishports says “There is now a real danger that customs infrastructure won’t be ready by July in some ports and we’re urging ministers to take a pragmatic approach to ensure that goods can continue moving at those locations,” /5
BREXIT
Peter Foster
Peter Foster
@pmdfoster
It's OUT! My latest #Brexit Briefing for @FinancialTimes - examining @BorisJohnson
"buy now, pay later" Northern Ireland Protocol, why the EU-UK trust deficit is killing it, how that can be restored - because it needs to work. /1

@BorisJohnson The danger here is that lingering animus over the opportunistic nature Johnson's Faustian bargain - dividing his Kingdom in order to 'get #Brexit done' and win an 80-seat majority - is clouding judgement on both sides of the Channel /2

@BorisJohnson The facts of the Protocol are no less true for Johnson's constant denial of them - that there would be checks, that there really is a trade border that now prevents plants and pets from travelling freely from Bedford to Ballymena as M.Gove reminds us. But these are other facts/3

@BorisJohnson Firstly, NI remains part of UK, even if it is now has EU customs rules.

Secondly, NI remains politically divided and fragile; the Good Friday Agreement is a constant work in progress.

Thirdly, both the EU and the UK agreed to this unsatisfactory arrangement jointly. /4

@BorisJohnson Fourthly, therefore, they have a joint responsibility to make it work because

Fifthly - and most importantly — there is no alternative to it. /5
BREXIT
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Peter Foster
Peter Foster
@pmdfoster
It's OUT! The first #Brexit Briefing of 2021...which explores how unrealistic some industry expectations are about 'fixes' to the current deal, now the penny is dropping about what it means for supply chains and UK position vis-a-vis EU

So take the example this week, where the @Foodanddrinkfed raised the issue that UK-hubs for food and drink were "unworkable" since goods that came in from the EU were attracting full tariffs when the were spun back into Ireland or other EU members /2



They were backed by other EU associations - and both said they would lobby UK govt and @EU_Commission to 'fix' what they presumed was an "unintended consequence" of the deal....except that both EU officials and UK govt have basically shrugged. The deal is the deal. /3

@EU_Commission This is in no way confined to food industry - clothes and retailers are also hard-hit.

But lots of industry has wrongly bet that 'common sense' and 'self interest' would prevail once the nasty negotiations phase was out the way...but that's not the signal being sent. /4

As one EU official puts it: “You can’t expect the UK to remain the food import hub for the EU. It’s not sustainable, and makes no sense in the mid-to-longer run." And that applies to financial services, clothing, retail goods....a bureaucratic curtain has descended. /4
BREXIT
Peter Foster
Peter Foster
@pmdfoster
Another head-banging day for the £112bn UK creative sector that is starting to ingest how difficult #Brexit is going to make their lives - and how little the government is really willing to do to fix the lack of a 'mobility' chapter in the EU-UK trade deal. Quick update.../1

First Equity @EquityUK put out a letter to @BorisJohnson warning that #brexit was a "towering hurdle" (you'd want Brian Blessed reading that part) to UK actors plying their trade in EU - a double whammy with #COVID19 /2

https://t.co/mXjTAISqZk


@BorisJohnson One third of Equity members say they've seen job ads asking for EU passport holders: "Before, we were able to travel to Europe visa-free. Now we have to pay hundreds of pounds, fill in form after form, and spend weeks waiting for approval" /3

@BorisJohnson Worth recalling that all this goes back to the UK desire NOT to have a 'mobility' provision within the TCA - all part of 'ending Free Movement' and the professional services folk - including musicians, actors, fashion models etc -are all victim of

@BorisJohnson What's the government going to do about all this? Good question, which brings us to todays @CommonsDCMS hearing in which the Culture Minister Caroline Dinenage @cj_dinenage frankly pin-balled around the issues /5
BREXIT
Peter Foster
Peter Foster
@pmdfoster
NEW. 🚨🚨🚛🇬🇧🙄🚛🚚🚨🚨 clear signs govt is preparing for coming #brexit turbulence - consulting on new fast-track scheme for food lorries returning to Europe /1



The idea is that 300 lorries a day will be granted 'fast track' permits so they can go back EU and replenish supplies...this is because (see below) the gov fears that potential for disruption is "high" /2


The 8-page consultation document notes this is both because of #Brexit but also because of #COVID19 and continued French insistence on checks on all drivers from UK. /3

Lots arriving in Kent without clear tests SO separately Dept for Transport is considering £150 fines for drivers that don't have clean tests before entering Kent - problem, say hauliers, is that this requires communicating with EU-based drivers (85% from EU) /4

The govt is worried that disruptions will risk the kind of panic-buying we saw in early #COVID19 pandemic /5
GOVERNMENT

More from Brexit

Pernille Rudlin/Rudlin Consulting
Pernille Rudlin/Rudlin...
@pernilleru
Japanese companies in the UK who have moved their product distribution hub to the EU in anticipation of what is now happening. One in a long thread, just to make a point that *some* companies have been preparing for worst case Brexit for years 1/13

Allegro MicroSystems Europe, semiconductors and ICs, owned by Sanken Denki, now importing into EU via Netherlands rather than UK. Amano Enzyme Europe transferred EU stock to warehouse in EU 2/13

Anritsu EMEA (sales and service of testing and measuring solutions to communications industry) all EU deliveries now go to second transport hub in Netherlands. Audio Technica established European Distribution Centre in Netherlands for Brexit (bit of a 🇳🇱theme here) 3/13

Eisai Europe (manufactures pharmaceuticals in Hatfield) transferred centralised marketing authorizations to Frankfurt, established testing and storage facilities in Antwerp. Electric Glass Fiber holding stock in EU for Brexit 4/13

Enplas Europe (semiconductors) acquired warehousing in NL for Brexit. Fujichem Sonneborn opened warehouse in Spain for Brexit. Furukawa Electric Europe shifted warehouse and distribution to Germany. 5/13
BREXIT
Nicholas Whithorn
Nicholas Whithorn
@NickWhithorn
Short fun thread on Brexiters expressed through the medium of the Sicilian word "minchia" & its variants.
N.B. "minchia" is not necessarily a vulgar word, having been used by authors as diverse as Giovanni Verga & Frank Zappa in their works, but it is uniquely expressive >>

Proprio un gran minchione!


'sta minchia di...


Chi minchia cumminastivu?l


Cu minchia è?
BREXIT
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Tony Connelly
Tony Connelly
@tconnellyRTE
Ireland's foreign min @SimonCoveney says there will be no breakthru at the #euco this wk, that EU fishermen will not be "sold out" in order to secure a future relationship deal, and that if there is a deal it will not be ratified unless the UK "remove" Internal Mkt Bill clauses

2/ Speaking at the General Affairs Council Mr Coveney said: “We value fishermen, we value their contribution across the EU and cerainly EU fishermen are not going to be sold out in an effort to get an agreement on a future relationship with the UK on trade.”

3/ He said that while there had been some progress on the level playing field area, there had been “little or no” movement on fisheries. Both sides, he said, had legitimate concerns on the issue.

4/ Mr Coveney had bilateral meetings with both @MichelBarnier and @MarosSefcovic

5/ “There was a very clear message that if we do manage to negotiate a deal on a future relationship agreement that involves many different areas, before that deal can be ratified or finalised, the domestic legislation that the UK has introduced...
BREXIT
Ronnie MB \U0001f1eb\U0001f1f0 (Ronnie MacLennan Baird)
Ronnie MB 🇫🇰 (Ronnie M...
@RMBFLK
I've been tweeting a lot about UK #OverseasTerritories not being part of the #Brexit deal and a bit more has emerged ...

#Falklands MLA @teslynbark has answered a q about #Brexit and the #Falklands on fb - highlights:

1 Original UK EU mandate didn't include OTs except for Gibraltar.

2 In May, EU said they didn't have a mandate to negotiate for their OTs and wouldn't negotiate on UK OT issues.

(2 possibly explains what @BorisJohnson said about EU "intransigence" in his Christmas message to the #Falklands, but wasn't mentioned when he replied to a pmq from @DerekTwiggMP earlier in the month)

3 @teslynbark says that @falklandsgov held that the new spirit of negotiations that evolved through the year gave space for #Falklands interests to be raised in #BrexitDeal talks and asking for detail on how they were raised by UK Government ...

4 @teslynbark says future negotiations with the EU aren't held to the same mandate as before so @falklandsgov to keep pushing to have #Falklands trade concerns raised
BREXIT
Nick Reeves 3.5% #FBPE
Nick Reeves 3.5% #FBPE
@nickreeves9876
1/ Brexit politics is built on fear. Frightened people tend to seek security in the tribe. Once that tribe might have been the Labour movement, but now in a fragmented post-industrial society it is the nation. Tribal identification is emotional, not rational.


2/ A tribe that feels under threat wants to control its borders, and who enters into its territory. It demands loyalty and solidarity, and its prime virtue is self-sacrifice - economic arguments won't persuade tribalists. Its members want to feel it is strong and powerful.

3/ Tribalism at a time of crisis is intolerant of dissent. The tribe must pull together against its enemies. Dissent and questioning cause division and disrupt the collective effort. Criticism is seen as treason. The Brexit right have ruthlessly exploited tribal psychology.


4/ To understand Brexit politics it is necessary to understand that the working and middle classes are dead as coherent political forces and that frightened and insecure people are now clinging to the only available powerful tribe, the nation-tribe.

5/ The Brexit right understands and ruthlessly exploits basic social emotions. In contrast the centre and centre-left mostly can see no further than the blinkered logic of rational individualism, from which perspective everything else is irrational and incomprehensible.
BREXIT

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RadioChinar
RadioChinar
@RadioChinar
Demystifying Ghazwa-e-Hind. A #thread.

A recent video of Shoaid Akhter surfaced in social media creating a lot of controversy where the #Pakistani Cricketer can be seen suggesting invasion of India by using the term Ghazwa-e-Hind.
Radicalization of sportsmen seen off late
(1/10)


Some radical Islamic preachers believes that Ghazwa-e-Hind means a “Holy War against India”. As per this irrational & profane concept, there will be a fierce battle to secure victory over #India.
#Kashmir
(2/10)


#Pakistan-based terror groups, like JeM have been using Ghazwa-e-Hind as a Hadith to recruit, fund and justify its terror strikes as a religious holy war against #India.
#Kashmir
(3/10)


Some machiavellian people claim it is a prophecy that Muslim warriors will wage war against the #India.
Jaish & others falsely propagate that Jihad against India is considered holy in Islam & that those participating in it will be granted an easy entry into paradise.
(4/10)


However prolific scholars says that this is a made-up interpretation of some verse in The Holy Quran to mislead the gullible youth of #Pakistan into picking up arms and fighting its Army's personal battle against #India.
#Kashmir
(5/10)
SOCIETY
Jig's Patel
Jig's Patel
@jigspatel1988
How to trade on Expiry day with Nifty straddle?
(System trading on Expiry)

Triple straddle is one of the best and accurate methods for expiry day

If nifty trading at 15720 then will sell three straddles above 50 points from ATM, below 50 points and ATM.

Ex.
Sell straddle 15700(ATM), 15650(ATM-50), 15750 (ATM+50)

Stoploss of 80% on every leg and run your trade till 3 PM

Once SL hit in any Leg just keep holding other leg till expiry with SL (Never or less chance to hit both SL on expiry day)

Trading timing at 9:20 the Morning
ALL , STRADDLE BACKTEST , STRADDLE
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Patrick McKenzie
Patrick McKenzie
@patio11
So the cryptocurrency industry has basically two products, one which is relatively benign and doesn't have product market fit, and one which is malignant and does. The industry has a weird superposition of understanding this fact and (strategically?) not understanding it.


The benign product is sovereign programmable money, which is historically a niche interest of folks with a relatively clustered set of beliefs about the state, the literary merit of Snow Crash, and the utility of gold to the modern economy.

This product has narrow appeal and, accordingly, is worth about as much as everything else on a 486 sitting in someone's basement is worth.

The other product is investment scams, which have approximately the best product market fit of anything produced by humans. In no age, in no country, in no city, at no level of sophistication do people consistently say "Actually I would prefer not to get money for nothing."

This product needs the exchanges like they need oxygen, because the value of it is directly tied to having payment rails to move real currency into the ecosystem and some jurisdictional and regulatory legerdemain to stay one step ahead of the banhammer.
CRYPTO
\u0939\u0920\u092f\u094b\u0917\u0940
हठयोगी...
@hathyogi31
#3/thread on Angkor wat

Christianity and islam may be the largest religion of today’s world but Sanatan dharm has the largest religious monument in the world in the form of Angkor wat. It is situated in combodia and spread across over 400 acres / 1.6 km².


It was listed as a UNESCO World Heritage Site in 1992, which encouraged an international effort to save the complex.
It was originally built as a Hindu temple dedicated to the god Vishnu. In Khmer, the Cambodian language, Angkor means "city" and Wat means "temple grounds".


So Angkor Wat means "Temple City". Its original name was Vrah Vishnuloka or Parama Vishnuloka, meaning the sacred dwelling of Vishnu in Sanskrit.
But, it gradually turned into a Buddhist temple towards the end of the 12th century & is still used for worship today.


Angkor Wat was initially designed and constructed in the first half of the 12th century, during the reign of Suryavarman II, as the king’s state temple and capital city. It was built without the aid of any machinery, as there was no machinery available at that time.


Evidence for these dates comes in part from inscriptions, which are vague, but also from the architectural design and artistic style of the temple and its associated sculptures.

Another aspect is that the five central towers of Angkor Wat symbolize the peaks of Mount Meru,
HISTORY
Hermann Peterscheck
Hermann Peterscheck
@petershk
For fun I made a Robinhood account. It took me 5 minutes to sign up, get approved and transfer funds for trading...

Here's some details... Read on.

...it took me another 5 minutes to get qualified for options.

If I share a sign up I get "free shares" and I can share as much as I want up to 500$ worth.

The main UI has a prepopulated "list" of stocks/crypto to watch and links to news.


Clicking a stock opens a "trade" button that looks like this.

Notice options is first, buy second.

Options took me to an approval process (which took about a minute) and now away I go trading Baba options.


Buying stock looks like this. It emphasizes fractional shares.
TRADING