Fast Talk, Street Talk, Mike Graham.

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The Independent Republic of Mike Graham.

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Good morning and welcome to the Independent Republic of Mike Graham right here on Talk TV.

It is a not quite glorious Tuesday, but, you know, we managed to get through Monday without falling over.

We managed to get past the lowest, lowest, lowest of the low when it comes to the pound against the dollar.

It's back up at 108, apparently, today.

There's a lot of doom and gloom out there.

There is plenty to be worried about, but nothing to be completely, nothing terrified about.

I hear that word a lot

these days. We're terrified about what's going on. There is a bad knock-on effect on mortgages,

and some mortgage lenders are not lending any money to people because it's so uncertain out there

in terms of what's going on with the bond market, with the money markets. There's an

awful lot of competition going on. The Daily Mail has picked up on what we were saying yesterday, which is basically that the city boys are completely and utterly ripping the backside out of the economy because this is where they make their money. This is what they do, right? So an awful lot of what is going on is being driven by the speculators, and that happens in every single area. And if the oil companies say they're going to have to put the price of oil up because oil is counted in dollars, not in pounds,

they're lying to you because guess what they do? They hedge their bets. They do deals with currency dealers

so that if the pound and the dollar do change rates, they're covered. So they don't need to put their prices up because they've already

hedged that particular situation. So everybody's taking the Mickey for one of a better phrase.

I'd like to say the other phrase, but I can't because I'm not allowed by offcom. But here's

the thing. We are not in a catastrophe. The economy will recover. Liz Truss and Kwazzi Quartang

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