Have you ever wondered why UK economy suddenly start to go down just after queen's death?
Well, there is a theory which indicates that queen's death, plunge of UK economy and Koh-I-Noor diamond has something in common.
By the end of this article, you will learn everything about this conspiracy theory.
Let’s talk about the Koh-I-Noor first — it’s history and why this conspiracy theory actually seems correct.
The Koh-i-Noor Diamond is a 186-carat diamond with a curse affecting only men.
According to folklore, a Hindu description of the diamond warns that
“he who owns this diamond will own the world, but will also know all its misfortunes. Only God or woman can wear it with impunity.”
Throughout history, the gem traded hands among various Hindu, Mongolian, Persian, Afghan and Sikh rulers, who fought bitter and bloody conflicts to own it.
Every prince who was in possession of the diamond would ultimately lose his power, if not his life.
For over 500 years, the stone changed hands in gruesome battles and vicious coups.
- The kingdom of Golconda (current day state of Telangana,India)
- The khilji Empire
- The Tughlaq Empire
- The Lodhi Empire
- The Mughal Empire
- The Maratha Empire
- The kingdom of Persia
- The Durrani Empire
- The Afghan Khanate
- The Sikh Empire
all collapsed one behind the other while owning the Koh-i-noor Diamond.
The height of the curse can be seen in the fact that even World level Empires crumbled below the weight of the curse.
The British East India company owned the Jewel since the Annexation and Disbandment of the Sikh Empire.
But only 7–8 years following the looting of the jewel,the revolt of 1857 literally destroyed the east India company from its roots.
Brothers set against brothers and sons overthrowing their fathers; the history and lives of the rulers who owned the Koh-i-Noor diamond were filled with violence, murders, mutilations, torture and treachery.
Whether people believe in the Curse of the Kohinoor Diamond, the history of the stone is undeniable — and the threat of the Koh-i-Noor curse is enough to make people cautious.
Historical records indicate the diamond was acquired by the British in 1849 and given to Queen Victoria in 1850.
To heed its legend, the diamond has since only been worn by women, including Queen Alexandra of Denmark, Queen Mary of Teck and the late Queen Elizabeth, The Queen Mother, wife of King George VI.
In 1936, the stone was set into the crown of the wife of King George VI, Queen Elizabeth (later known as the Queen Mother).
The British Royal family were obviously aware of the Curse of the Koh-i-noor , and from the reign of Queen Victoria the Kohinoor diamond has always gone to the wife of the male heir to the British throne.
Currently, it is set as one of the jewels within a British monarchy crown that is kept at the Tower of London Jewel House.
But after the death of Queen Elizabeth II, it is a well known fact that the crown now belongs to Charles III.
And because he is a man, the curse started working instantly.
And now you can see the first stage of the curse, i.e., the UK economy.
- The British Chambers of Commerce (BCC) has again downgraded its expectations for UK GDP growth for 2022 to 3.3% (from 3.5% in Q2) against a deteriorating economic outlook.
- UK inflation is now expected to reach 14% in Q4 2022, an upwards revision of four percentage-points from its previous projection of 10%.
- The BCC is now forecasting a recession for the UK economy this year, with negative economic growth for Q2, Q3, and Q4 2022
Short-term GDP expected to go into recession
In the short term, the BCC is now forecasting a recession for the UK economy, with three consecutive quarters of contraction between Q2 and Q4 in 2022. Annual expectations for GDP growth also continue to decline, with 3.3% forecast for 2022, significantly below the 7.4% growth recorded in 2021. However, unlike the Bank of England, the BCC expects the economy to grow in 2023, albeit at a very low 0.2%, with a slight increase to 1% in 2024.
These anaemic predictions for GDP growth are in light of deteriorating economic conditions; rising energy costs, a decline in household spending and real wages; weaker export prospects and a pessimistic global economic outlook; poor investment conditions and weakening business confidence and cashflow. Many of these issues were initially caused by the global response to Covid-19 and have been further compounded by the war in Ukraine.
Inflation to peak at 14%
Businesses and consumers will continue to face exceptionally high costs as rampant inflation spirals upwards in 2022. Increased and more sustained inflationary pressure is now forecast for Q4 2022, as the Consumer Price Index (CPI) inflation rate is expected to reach a peak of 14%. This is up from the previous, already high, projected rate of 10%. The CPI rate is expected to slow to 5% in 2023, and finally return to the Bank of England’s target of 2% in 2024.
The forecast for the Bank of England’s interest rate remains unchanged; the rate is expected to increase from 2% in 2022 to 3% in 2023 and 2024. Inflation is expected to outpace growth of earnings by over 3:1 in Q4 2022, with average earnings increasing by 4.5% in Q4 2022.
Investment and recovery expected to be anaemic
Business investment is set to grow at 2.7% in 2022, an upward revision from the Q2 forecast of 1.8%. This is likely to be driven by growth in building construction rather than spending on machinery or equipment. However, it is expected to increase by only 0.6% in 2023, slightly down from the 0.8% growth predicted in Q2.
Overall investment is expected to grow by 4% this year but shrink by 0.4% in 2023 before rebounding to 1.1% in 2024.
Consumer spending is now forecast to grow at 3.8% in 2022, a fall from the 4% predicted in Q2.
I know we cannot blame it on Koh-i-Noor, but you cannot deny the history.
I am not saying we should return it to India. I am just saying it should be sold or given to a state who has a queen….. if you know what I mean.
