The British membership of the EU has always been the responsibility of the "European Movement", a shadowy organisation that was established after WWII as part of the post war plan for pacifying Europe. The European Movement set up and arranged the finance for the Remain campaign in the EU Referendum, opposed the euro-sceptics in the Irish referendums and campaigned for the "People's Vote" etc.
In 1990 the UK began the preliminary adjustments to join the Euro. This involved being a member of the ERM (The European Exchange Rate Mechanism) in which the exchange rate of the pound versus other European currencies was fixed.
On 16th September 1992 the foreign exchange markets began selling pounds and the Bank of England at first intervened too late and then, with the German Bundesbank withdrawing support, was unable to contain the rout as the pound went into free fall.
John Major formed an inner cabinet of advisers to deal with the crisis consisting of himself, Ken Clarke, Michael Heseltine and Douglas Hurd. Clarke is Vice President of the European Movement UK, Heseltine is President and Hurd is a "Patron". The Chancellor, Norman Lamont, was excluded from the inner cabinet.
As the pound continued to slide the inner cabinet decided to raise interest rates to 15%. The housing market went into a tailspin as people with variable rate mortgages (most home buyers) realised they could no longer afford their homes. Ken Clarke can be heard on the radio below being cheerful about the 15% interest rate - if it saved UK membership of the EU then so be it.
Even when it was obvious that the UK had to leave the ERM Douglas Hurd came up with a procedural delaying tactic involving negotiating an exit from the ERM with the member states. The UK could have left unilaterally at any time (this was before the Lisbon Treaty). The European Movement's inner cabinet was happy to pay any price to keep the UK in the EU.
The major beneficiary of Black Wednesday was George Soros who speculated billions against the pound and made his fortune. Anyone who believes that Soros is on their side should understand that his first love is money.
After the EU Referendum Ken Clarke was touted by the pro-EU press as being the impartial "compromise candidate" who could be caretaker Prime Minister after May lost support. He was Vice President of the fanatical European Movement!
21/8/2020
Ken Clarke confesses to the role of the European Movement in the BBC Radio 4 program "The Reunion":
The formation of a European Movement inner cabinet
Raising interest rates to 15%
Delaying exit from the ERM at huge cost.
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