Corporate CEO's spurn Obama and the IMF by saying Brexit will help not hurt UK businesses

Just as revelations have emerged on just how draconian the Trans-Atlantic Trade and Investment Partnership (TTIP) is for European countries, so too is the rhetoric being spewed by politicians such as Barack Obama and Christine Lagarde in regards to the Brits leaving the Eurozone little more than a demand for political coercion.  Because while the President of the United States threatens the EU with import sanctions if they choose not to play ball with the ‘arm twisting’ regime out of Washington, CEO’s for 300 corporations are dismissing the U.S. commander-in-chief and are now in support of a Brexit since they believe it will help, not hinder, UK businesses.

In a shocking slap in the face for UK PM Cameron, more than 300 business leaders are calling on Britain to vote to leave the European Union, saying that the country’s “competitiveness is being undermined by our membership.” As The Telegraph reports, the letter, signed by some of Europe’s most senior business executives, claims Brussels “red tape stifles growth” and a Brexit would “create more jobs” exclaiming that “it is business – not government – which generates wealth.”

Perhaps this explains why Cameron, Osborne, Obama, and almost every other establishment politician and lackey has embraced ‘Project Fear’ when it comes to Brexit, proclaiming World War 3’s imminence and all the worst parts of the bible will occur should the great unwashed masses exercise their right to vote for democracy (as opposed to a tyrannical superstate).

In an attempt to redress the balance after the Bank of England and the International Monetary Fund last week warned that a Brexit would damage Britain’s economy, the letter in the Telegraph is signed by 306 business leaders in a personal capacity (and also signed by hundreds of people linked to small and medium-sized businesses). In total the backers of the letter are from businesses employing hundreds of thousands of members of staff. – Zerohedge

Interestingly, this letter to the Telegraphy by business leaders comes just days after the IMF’s Christine Lagarde publicly announced that a Brexit for the UK would result in capital loss, and a bursting of London’s outrageous housing bubble.

IMF Chief Christine Lagarde has once again spoken against the UK leaving the European Union. She has predicted “a sharp” drop in equity and house prices, increased borrowing costs and a sudden stop of investment inflows into commercial real estate and finance.

“We have looked at all the scenarios. We have done our homework and we haven’t found anything positive to say about a Brexit vote,” she said at a press conference at the Treasury in London on Friday. According to the IMF, the impact would range from “pretty bad to very, very bad.”

Lagarde has said she isn’t taking sides in the referendum debate, and has called Brexit an international rather than domestic issue.

“We are not doing it out of politics, that is not the job of the IMF. We are doing it because there is a significant downside risk. It’s not just a domestic issue. It is an international issue. I don’t think in the last six months I have visited any country in the world where I have not been asked what will be the consequences,” said the IMF chief. – Russia Today

And sadly we know that Lagarde’s words are a lie as the IMF is involved in the political affairs of nearly every country it deals with, as evidenced recently by members of the bank suggesting that they help create a financial crisis in Greece to force them to capitulate to more austerity measures.

100 years ago, President Calvin Coolidge said, “the business of America is business”.  But now in the 21st century for most Western nations, that ‘business’ has changed to cronyism, with policies built more towards closed and secret trade agreements rather than open and free trade.  And since no one knows how business works better than individuals who have actually produced goods and services, it is apropos that 300 CEO’s, and Presidential nominee Donald Trump, are saying a Brexit is a good thing for Britain, while those currently in power in the U.S. and the UK are desperately trying to stave off its inevitability.

Kenneth Schortgen Jr is a writer for,, and To the Death Media, and hosts the popular web blog, The Daily Economist. Ken can also be heard Wednesday afternoons giving an weekly economic report on the Angel Clark radio show.