End of the day, this crisis was nothing compared with the Winter of Discontent or the crisis we are currently in, 5 years later we were the most productive economy in Europe, now we're in a trillion pounds worth of debt with slow growth for the forseeable future no matter what.
@Reazzurro90 Margaret Thatchers American advisor Alan Walters warned her not to touch the ERM with a barge pole. History has proved Alan Walters right and John Major, Kenneth Clarke, Hurd , Heseltine and Lamont recklessly incompetent with other peoples livelihoods and taxpayers money.
It was innocent mortgage payers and small businesses that went bust by the thousand who were forced to pay for Major and his cronies negligence.
@ondeia George Soros saw an opportunity to make money out of Major’s incompetence. Soros knew Major had committed tax-payers money to keeping the pound propped up at a ludicrously unsustainable level and made millions out of Major’s contrariness. Tragically it was the hundreds of thousands of innocent mortgage payers who lost their homes who had to pay for the Conservative government’s negligence.
@makedoandmend2 oh yeah, you can discuss the problem with ERM system, but still Soros had to know who will pay his profit, that it will be ordinary British people. I think that even when there is good opportunity to make profit, you are responsible for how it will effect other people. I am really persuaded, that people like Soros are morally responsible for what they are doing. You cannot claim that you are philantropist and do this to people.
In February 2005, John Major and Norman Lamont were accused of holding up the release of papers on Black Wednesday under the Freedom of Information Act. Black Wednesday refers to September 16, 1992 when the British government was forced to withdraw the Pound from the European Exchange Rate Mechanism (ERM) by currency speculators - most notably Circle member George Soros who made $1 billion that day.
Sometime after Black Wednesday, when the UK's economy was high again, Germany was having some economic trouble Major publicly said 'you know why that is, it's because their interest rates are too high'. Coming from him saying something like that is literally asking for a smack in the face.
Major had brazen neck. He even told mortgage payers that "If it isn't hurting it isn't working" and that "It was a price worth paying to bring economic stability" before he buggered of to work for Barclays after his Black Wednesday mess brought in a Labour Landslide.
Exactly, i actually feel what was wrong with the party after her downfall was its image and not the actual policies. Michael howard in 2005 ran a remarkably thatcherite policy stance and got more votes than the previous election however he failed to change the image of the party. I think people think this (conservatives=thatcher) so they dont vote for them, they dont vote not on because they hated her policies, but they didnt like her personally etc
Btw Thatcher didnt want to go into the exchange mechanism at all, she often argued over this matter with nigel lawson and geoffrey howe, this matter was part of the reason she was over thrown. Its often funny how many things she predicted often come right
You are quite right It is surprising how many people blame Margaret Thatcher for Black Wednesday. She would never have made the terrible mess John Major did had she still been prime minister.
Her advisor Alan Walters told her not to touch the ERM with a barge pole history has proved him right on this .
If the Conservatives had kept Thatcher we would not have had Black Wednesday or twelve years of Labour.
I despised John Major far more than Maggie Thatcher. At least with Mrs Thatcher you knew where you stood she was a strong leader with a clear agenda. I did not like her policies one bit but she was a worthy opponent. John Major was snivelling spineless sneaky and under handed. He was anything but the so called nice man image he conveyed. Under John Major I hated Britain was ashamed to say I was British.
Thank you for posting that, I missed that episode, bloomin excellent, I had to live through the shit of that gov at the time. How quickly people forget.
End of the day, this crisis was nothing compared with the Winter of Discontent or the crisis we are currently in, 5 years later we were the most productive economy in Europe, now we're in a trillion pounds worth of debt with slow growth for the forseeable future no matter what.
kkwillsaveus 10 months ago
I bet Margaret Thatcher was laughing her ass off thinking "stupid bitches, I told them" while this was going on.
Reazzurro90 1 year ago 8
@Reazzurro90 Margaret Thatchers American advisor Alan Walters warned her not to touch the ERM with a barge pole. History has proved Alan Walters right and John Major, Kenneth Clarke, Hurd , Heseltine and Lamont recklessly incompetent with other peoples livelihoods and taxpayers money.
It was innocent mortgage payers and small businesses that went bust by the thousand who were forced to pay for Major and his cronies negligence.
makedoandmend2 1 year ago
@makedoandmend2
I wish the Italian government had listened to the Euroskeptics instead of throwing themselves head first into the Euro.
Reazzurro90 1 year ago
@makedoandmend2 Shouldn´t be Soros blamed instead?
ondeia 7 months ago
@ondeia George Soros saw an opportunity to make money out of Major’s incompetence. Soros knew Major had committed tax-payers money to keeping the pound propped up at a ludicrously unsustainable level and made millions out of Major’s contrariness. Tragically it was the hundreds of thousands of innocent mortgage payers who lost their homes who had to pay for the Conservative government’s negligence.
makedoandmend2 7 months ago
@makedoandmend2 oh yeah, you can discuss the problem with ERM system, but still Soros had to know who will pay his profit, that it will be ordinary British people. I think that even when there is good opportunity to make profit, you are responsible for how it will effect other people. I am really persuaded, that people like Soros are morally responsible for what they are doing. You cannot claim that you are philantropist and do this to people.
ondeia 7 months ago
In February 2005, John Major and Norman Lamont were accused of holding up the release of papers on Black Wednesday under the Freedom of Information Act. Black Wednesday refers to September 16, 1992 when the British government was forced to withdraw the Pound from the European Exchange Rate Mechanism (ERM) by currency speculators - most notably Circle member George Soros who made $1 billion that day.
yendytok 1 year ago
Sometime after Black Wednesday, when the UK's economy was high again, Germany was having some economic trouble Major publicly said 'you know why that is, it's because their interest rates are too high'. Coming from him saying something like that is literally asking for a smack in the face.
dezboss 1 year ago 14
Major had brazen neck. He even told mortgage payers that "If it isn't hurting it isn't working" and that "It was a price worth paying to bring economic stability" before he buggered of to work for Barclays after his Black Wednesday mess brought in a Labour Landslide.
makedoandmend2 1 year ago
thank you for the upload. could you please tell me on which documentary this was taken from?thank you in advance
platsplouts89 1 year ago
@platsplouts89
This was from Andrew Marr's history of modern Britain. It was repeated a few weeks ago and probably will be again on one of the BBC channels .
makedoandmend2 1 year ago
@platsplouts89
This was from Andrew Marr's history of modern Britain. It was repeated a few weeks ago and probably will be again on one of the BBC channels .
makedoandmend2 1 year ago
Exactly, i actually feel what was wrong with the party after her downfall was its image and not the actual policies. Michael howard in 2005 ran a remarkably thatcherite policy stance and got more votes than the previous election however he failed to change the image of the party. I think people think this (conservatives=thatcher) so they dont vote for them, they dont vote not on because they hated her policies, but they didnt like her personally etc
moroseo 2 years ago
@moroseo There is some truth in that, I agree.
dezboss 1 year ago
Btw Thatcher didnt want to go into the exchange mechanism at all, she often argued over this matter with nigel lawson and geoffrey howe, this matter was part of the reason she was over thrown. Its often funny how many things she predicted often come right
moroseo 2 years ago
You are quite right It is surprising how many people blame Margaret Thatcher for Black Wednesday. She would never have made the terrible mess John Major did had she still been prime minister.
Her advisor Alan Walters told her not to touch the ERM with a barge pole history has proved him right on this .
If the Conservatives had kept Thatcher we would not have had Black Wednesday or twelve years of Labour.
makedoandmend2 2 years ago
and who was lamonts advisor on economic matters? (ANSWER) one david cameron!!!! think on!!! for may/june 2010!!
DAVCOUGAR 2 years ago 5
what is the music that starts at 1:08?
Cnd1867 2 years ago
Jazz suite no 2 composer Shostakovich
makedoandmend2 2 years ago
I despised John Major far more than Maggie Thatcher. At least with Mrs Thatcher you knew where you stood she was a strong leader with a clear agenda. I did not like her policies one bit but she was a worthy opponent. John Major was snivelling spineless sneaky and under handed. He was anything but the so called nice man image he conveyed. Under John Major I hated Britain was ashamed to say I was British.
dukeboys123 2 years ago
Exchange rate mechanism......fucking ridiculous to even think about being part of it....nice one Thatch ;)
John Major on Spitting Image is absolutely hilarious by the way :)
han18F 2 years ago
ERM was a utter fiasco, but in the end helped Britain recover by getting out of it.
gopconservative78 3 years ago 8
george soros is my hero
nubilator 3 years ago
does anyone know video's with impressions of john major
Underattack13 3 years ago
Northern Rock did not cause hundreds of thousands of families to lose their homes neither did it bankrupt thousands of businesses.
Labour's tax and squander policy has made people forget what a malicious bunch of misfits the last Tory Government was.
makedoandmend2 3 years ago
I suppose being a malicious misfit toff is better than being a malicious scot socialist.
theredraven 2 years ago 3
You're right. Down with Brown.
fichbar 2 years ago
could be worse, could be northern rock
mbb05jb 3 years ago
Thank you for posting that, I missed that episode, bloomin excellent, I had to live through the shit of that gov at the time. How quickly people forget.
baronesscat 3 years ago
nice video, thanks for posting.
mikedukblah 3 years ago 3