This will cut into both domestic and foreign extemp and could be the harbinger of things to come economically. Early this morning the Bank of England failed to sell all of the bonds needed to be sold on behalf of the British Government. (This would be equal to our Federal Reserve being unable to sell bonds at it's weekly auction). The net result is that the British Government is in somewhat serious danger of running out of cash to pay it's bills.
The failure was brought on by investor's dislike of the British Prime Minister and there may be more politics at play here than economic danger...but...the British Government has only a very short period of time to respond or watch the British Pound get destroyed in international markets. This would set up an economic disaster of big time proportions for the British and perhaps others in the Western World. It would also ensure the Brits never join Europe in the common Euro currency.
This story needs to be followed and completely understood for it's consequences might be with us well into next year. I know none of you like economics but this is huge and needs to be understood. Coach Harry
