Plan For Coming Run On The Pound

Run On The Pound ? Jeremy Corbyn Says Should Plan For

– Right to plan for ‘run on pound’ if Labour wins says Corbyn and Labour party
– British pound already down 20% since Brexit, collapse already in play
– Run on the pound likely due to Labour’s ‘command economy’ approach
– Collapse in Sterling would undermine UK financial system
– Portfolios holding sterling and related assets would be significantly affected
– Pension funds and property the most likely to get hit by run on the pound
– Gold to benefit as sterling collapse picks up pace

Editor: Mark O’Byrne

Last week Labour Shadow Chancellor John McDonnell said the party was carrying out “war-game-type scenario-planning” for events such as “a run on the pound”.

A run on the pound would see the value of the currency plummet, increase inflation and increase the value of those age old stores of value – namely gold and silver.

McDonnell’s reasons for war-gaming were because of expectations that a ‘radical’ Labour government would face a range of challenges.

He said was seeking to “answer the question about what happens when, or if, they come for us”.

When asked what McDonnell meant by ‘they’, party leader Jeremy Corbyn said he was likely referring to outside forces who have previously punished Labour governments in such a way.