Episode Details

While Prime Minister Rishi Sunak, like a jilted boyfriend turned desperado, is announcing a new policy every day, future Prime Minister Keir Starmer’s strategy has been to be as vague and non-committal as possible about everything, and get elected on the back of the Tories being so useless. It makes sense: the less he promises now, and the less specific he is, the more scope he will have when he comes to power to do what he wants.

Such is the topsy-turvy Orwellian world in which we live. Labour’s five missions—massive cringe—read like something that should be on the Conservative Party website. Labour declares upfront, first and foremost, that its “first duty” is “to protect our country – through economic stability, secure borders, and strong defence.” I’m sure this is all part of Starmer’s strategy to win over the middle and rid himself of the ghosts of Labour incompetence. “I’ve changed the Labour Party so we are back in service of working people,” he boasts. “Together we can change Britain.”

So what exactly will this huge change that is coming to Britain entail?

One of the few things Labour has been specific about is VAT on school fees. This has generated a lot of negative press, particularly in the mainstream media, which is heavily populated by people who went to public school and send their kids there too. But with only 7% of children actually going to public school, I guess Labour has figured, in these times of envy, that this will be a vote-winner. While it purports to be an attack on the rich, in real terms it is an attack on the middle classes, many of whom will now put their kids into state schools. The extra burden of this on an already overburdened sector does not justify the limited increase in revenues that will come from VAT, never mind the practicalities of imposing this charge and the schools that will go bust as a result. But extra revenue is not what this is about. It’s exploiting the politics of envy.

Nevertheless, there is one clear thing we can infer from it: the middle class is going to get shafted. Where it tries to be independent and self-sufficient, it will find itself dragged into state dependency. That is not change, though. This is a process that has been going on for decades—since the imposition of fiat money, in fact. And that, I’m afraid, is the broad brush stroke. The details may be different, but the direction is the same. We are going to see more government, more spending, more technocracy, more bureaucracy, more quangos, more regulation, more taxation, further declines in the purchasing power of money, further erosion of individual liberty, more state solutions to things that would sort themselves out perfectly well if government stayed out of it, and so on. We will also see further steps in the direction of supranational bodies, one-world government, and all the rest of it. Change is not coming. Continuity is.

So the absolute first thing you have to do is keep as much wealth as you can outside the system. Do not hold sterling, or any other fiat money for that matter. Yes, sterling is holding up moderately well in the forex markets, which know Labour will win, but that is just comparing it with other fiat currencies. Use gold and bitcoin as your savings vehicles. They will outperform sterling quite comfortably by the time of the next government