Britain leaving EU, Gold is up 5%
TigersFan2
Posts: 1,442 ✭✭
Expect a lot of turmoil in the markets tomorrow.
I love the 3 P's: PB&J, PBR and PCGS.
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Latin American Collection
In honor of the memory of Cpl. Michael E. Thompson
I'm thrilled for Britain, too. Not everything boils down to dollars and cents (or Pounds Sterling, for that matter).
What is there to be thrilled about?
Latin American Collection
I'm thrilled for Britain, too. Not everything boils down to dollars and cents (or Pounds Sterling, for that matter).
What is there to be thrilled about?
Get out of here with your logic, hurr durr screw the EU.
I assume you've been following this pretty closely... gotta ask, what are the odds that Parliament doesn't follow the referendum and votes to stay?
Cameron resigned this morning. The next PM will likely be Boris Johnson. The question is when will they invoke article 50 of the Treaty of Lisbon to begin the exit from the EU. Conventional wisdom is that they will do it quickly, I guess that it will actually be some time as they build up trade negotiation teams and the infrastructure to deal with such things.
The EU will negotiate very tough terms. If they do not then other member nations with strong nationalist uprisings could be given a strong boost to push for similar referendums.
Watch Ireland...Sinn Fein, the Irish republican political party have now renewed calls for a unified Ireland. The nationalist parties in the Netherlands and France may get a big boost. In the medium term, I think GBP recovers and EUR falls.
UK GDP declines 1-2%, pricing for most consumer goods rises in the UK and capital investments into the UK with revenue outside the UK grind to a complete halt.
Can't see how this is good for the average UK citizen but I'm sure they will be "thrilled" none the less.
Latin American Collection
Can't see how this is good for the average UK citizen but I'm sure they will be "thrilled" none the less.
Not everyone is willing to sell out their country's heritage and sovereignty for a few shekels.
Latin American Collection
It appears to me, and my opinion includes input from ex-patriot British friends, that the people see their sovereignty and culture threatened. Ergo, leave the EU and recoup Britain - as they believe it should be. Certainly, with the muslim issue in London, their feelings (albeit from afar) are understandable. Cheers, RickO
Yet ironically this has become a singular issue debate about immigration and the likely terms of the exit deal worked with the EU will be for the UK to still take a heavy quota of migrants.
Latin American Collection
As it is, it looks like the revulsion against warring nationalism wrought by Europe's last two catastrophic wars is fading fast, and the weak EU institutions will be unraveling here. To what extent it's hard to tell, but I sure hope things don't devolve to petulant jingoism and competition again.
Ah, well. History never moves in a straight line, does it?
Here's a warning parable for coin collectors...
Let's just hope that, as a nation, we don't fall for the same "stupidity of the masses" currently being promoted by the red-hat-wearing-clown.
-~-~-~-~-~-~-~-~-~-~-~-~-~-~-~-~-~-~-~-~-~-~-~-~-~-~-~-~-~-~-~-~-~-~-~-~-~-~-~-~-~-~-~-~-~-~-~-~-~-~-~-~-
My sets: [280+ horse coins] :: [France Sowers] :: [Colorful world copper] :: [Beautiful world coins]
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I'm thrilled for Britain, too. Not everything boils down to dollars and cents (or Pounds Sterling, for that matter).
What is there to be thrilled about?
Get out of here with your logic, hurr durr screw the EU.
I assume you've been following this pretty closely... gotta ask, what are the odds that Parliament doesn't follow the referendum and votes to stay?
Cameron resigned this morning. The next PM will likely be Boris Johnson. The question is when will they invoke article 50 of the Treaty of Lisbon to begin the exit from the EU. Conventional wisdom is that they will do it quickly, I guess that it will actually be some time as they build up trade negotiation teams and the infrastructure to deal with such things.
The EU will negotiate very tough terms. If they do not then other member nations with strong nationalist uprisings could be given a strong boost to push for similar referendums.
Watch Ireland...Sinn Fein, the Irish republican political party have now renewed calls for a unified Ireland. The nationalist parties in the Netherlands and France may get a big boost. In the medium term, I think GBP recovers and EUR falls.
UK GDP declines 1-2%, pricing for most consumer goods rises in the UK and capital investments into the UK with revenue outside the UK grind to a complete halt.
Can't see how this is good for the average UK citizen but I'm sure they will be "thrilled" none the less.
I'm thinking that Germany could be next as they have a strong economy and will have to be a greater share of the "backbone" to keep the EU afloat. If Germany goes, the entire EU falls apart and there will be a ton of economic turmoil.
As for trying to tie this into one of our own political candidates, both candidates are horrid and are only viable because the other is such an unmitigated piece cr*p. And just as in Britain, we have nobody to blame but ourselves.
True!!!!
I'm thrilled for Britain, too. Not everything boils down to dollars and cents (or Pounds Sterling, for that matter).
What is there to be thrilled about?
Get out of here with your logic, hurr durr screw the EU.
I assume you've been following this pretty closely... gotta ask, what are the odds that Parliament doesn't follow the referendum and votes to stay?
Cameron resigned this morning. The next PM will likely be Boris Johnson. The question is when will they invoke article 50 of the Treaty of Lisbon to begin the exit from the EU. Conventional wisdom is that they will do it quickly, I guess that it will actually be some time as they build up trade negotiation teams and the infrastructure to deal with such things.
The EU will negotiate very tough terms. If they do not then other member nations with strong nationalist uprisings could be given a strong boost to push for similar referendums.
Watch Ireland...Sinn Fein, the Irish republican political party have now renewed calls for a unified Ireland. The nationalist parties in the Netherlands and France may get a big boost. In the medium term, I think GBP recovers and EUR falls.
UK GDP declines 1-2%, pricing for most consumer goods rises in the UK and capital investments into the UK with revenue outside the UK grind to a complete halt.
Can't see how this is good for the average UK citizen but I'm sure they will be "thrilled" none the less.
I'm thinking that Germany could be next as they have a strong economy and will have to be a greater share of the "backbone" to keep the EU afloat. If Germany goes, the entire EU falls apart and there will be a ton of economic turmoil.
Doubtful. No one benefits more from the EU economically than Germany. They have the strongest economy and current account surplus. With weaker member states they carry a huge economic advantage with using a relatively weak Euro in comparison to what would be a very strong Deutschmark. Additionally, there is no real uprising of nationalism or separatism in Germany like there is emerging in France and the Netherlands.
It will be years before anything happens and it may be a year before Britain invokes Article 50 of the Treaty of Lisbon making Brexit a reality in 2019 unless a faster transition is followed.
Latin American Collection
8 Reales Madness Collection
Brexit to be followed by Grexit. Departugal. Italeave. Czechout. Oustria. Finish. Slovlong. Latervia. Byegium.
Dead Cat Waltz Exonumia
"Coin collecting for outcasts..."
I'm thrilled for Britain, too. Not everything boils down to dollars and cents (or Pounds Sterling, for that matter).
What is there to be thrilled about?
Get out of here with your logic, hurr durr screw the EU.
I assume you've been following this pretty closely... gotta ask, what are the odds that Parliament doesn't follow the referendum and votes to stay?
Cameron resigned this morning. The next PM will likely be Boris Johnson. The question is when will they invoke article 50 of the Treaty of Lisbon to begin the exit from the EU. Conventional wisdom is that they will do it quickly, I guess that it will actually be some time as they build up trade negotiation teams and the infrastructure to deal with such things.
The EU will negotiate very tough terms. If they do not then other member nations with strong nationalist uprisings could be given a strong boost to push for similar referendums.
Watch Ireland...Sinn Fein, the Irish republican political party have now renewed calls for a unified Ireland. The nationalist parties in the Netherlands and France may get a big boost. In the medium term, I think GBP recovers and EUR falls.
UK GDP declines 1-2%, pricing for most consumer goods rises in the UK and capital investments into the UK with revenue outside the UK grind to a complete halt.
Can't see how this is good for the average UK citizen but I'm sure they will be "thrilled" none the less.
I'm thinking that Germany could be next as they have a strong economy and will have to be a greater share of the "backbone" to keep the EU afloat. If Germany goes, the entire EU falls apart and there will be a ton of economic turmoil.
Doubtful. No one benefits more from the EU economically than Germany. They have the strongest economy and current account surplus. With weaker member states they carry a huge economic advantage with using a relatively weak Euro in comparison to what would be a very strong Deutschmark. Additionally, there is no real uprising of nationalism or separatism in Germany like there is emerging in France and the Netherlands.
It will be years before anything happens and it may be a year before Britain invokes Article 50 of the Treaty of Lisbon making Brexit a reality in 2019 unless a faster transition is followed.
But you're applying intelligence and reason to whether Germany will stay in the EU. People vote based on emotion. Germany already has a "leave the EU" movement and it will just get stronger. The "offer no solutions but let's just blow everything apart because we don't like it" movement is what has given us Donald Trump as a presidential candidate and what fueled the Brexit movement in Britain.
As the CFO of the UK division of a US multinational I cannot see how anyone should be thrilled for Britain.
Maybe what works well for the UK division of a US multinational isn't the same as what's good for actual people.
the concept was nice at first but Nationalism is too strongly entrenched in most of the countries involved. I believe that this would have happened eventually and was only hastened by events in the Middle East.
JMHO, of course.
As the CFO of the UK division of a US multinational I cannot see how anyone should be thrilled for Britain.
Maybe what works well for the UK division of a US multinational isn't the same as what's good for actual people.
You are right. I'm sure you have been falling the issue closely. Perhaps you can then explain why it is good for the people.
Latin American Collection
As the CFO of the UK division of a US multinational I cannot see how anyone should be thrilled for Britain.
Hopefully you positioned your commitments wisely in anticipation of this result.
``https://ebay.us/m/KxolR5
Whatever happens, they still have the same accent.
So True.
England Swings
Brexit to be followed by Grexit. Departugal. Italeave. Czechout. Oustria. Finish. Slovlong. Latervia. Byegium.
Extremely funny
mark
Fellas, leave the tight pants to the ladies. If I can count the coins in your pockets you better use them to call a tailor. Stay thirsty my friends......
As the CFO of the UK division of a US multinational I cannot see how anyone should be thrilled for Britain.
Hopefully you positioned your commitments wisely in anticipation of this result.
75% hedged for the next 12 months on GBP-EUR but the reality is consumption will fall for a time, prices will rise as companies price for the currency impact and capital investments in the UK will fall until there is certainty. Companies with limited liquidity will see net 0 terms hurting their cash flow further forcing them to raise cash.
The London banking sector is going to be hard hit. How can the EU maintain the financial center of the region in a non-member state.
Latin American Collection
George Carlin used to call the United States "Europe Junior" in part of his stand-up, more in a reference to how our Nation expanded westward. now, after the formation of the EU things were switched and the European countries became "America Junior" with their attempt at confederation. they forgot one thing, they didn't have a Central Government in charge of everything. instead, they were a bunch of independent countries who tried to make an economic stand against the World.
the concept was nice at first but Nationalism is too strongly entrenched in most of the countries involved. I believe that this would have happened eventually and was only hastened by events in the Middle East.
JMHO, of course.
I agree. There is also still deep seated feelings left over from WW2. I lived in CZ for 1.5 years and they had nothing nice to say about the Germans. Of course the Germans thought they should be in charge because of the size of their economy.
"A dog breaks your heart only one time and that is when they pass on". Unknown
It appears to me, and my opinion includes input from ex-patriot British friends, that the people see their sovereignty and culture threatened. Ergo, leave the EU and recoup Britain - as they believe it should be. Certainly, with the muslim issue in London, their feelings (albeit from afar) are understandable. Cheers, RickO
Yet ironically this has become a singular issue debate about immigration and the likely terms of the exit deal worked with the EU will be for the UK to still take a heavy quota of migrants.
It's pretty clear why the United States is in a rut - the "logical" voters, who regularly deride others as "emotion-based" voters, are truly just in-the-closet single issuers.
And no, I'm not a Democrat, I'm just calling it how it is with the neo-cons.
Brexit to be followed by Grexit. Departugal. Italeave. Czechout. Oustria. Finish. Slovlong. Latervia. Byegium.
Brilliant, absolutely brilliant!
Experience the World through Numismatics...it's more than you can imagine.
Its over... it is just a matter of time. Not that I agree with this. A unified Europe was the best option.
Yup its over . Stick a fork in the EU its days are numbered. A unified Europe isn't a bad concept. Being ruled by unelected bureaucrats that meet behind closed doors was not what people wanted apparently.
The bankers and their cronies were doing okay , but when parasites get to large or too numerous the host dies.
.....and the European countries became "America Junior" with their attempt at confederation. they forgot one thing, they didn't have a Central Government in charge of everything. instead, they were a bunch of independent countries who tried to make an economic stand against the World.
the concept was nice at first but Nationalism is too strongly entrenched in most of the countries involved....JMHO, of course.
The key missing component all along was that that each nation had its own bonds. So even with a common EU, a common currency, they weren't properly linked with a common bond structure. The ECB needed a common Euro treasury bond to fully function. It was never going to last. Imagine trying to govern and manage all 50 US states without a common USTreasury bond but rather buying/selling 50 separate state bonds?
Here is a short 4 minute video that sums it up nicely .
Mark Blyth via Utube
Last I knew their heritage and sovereignty were not for sale.
It wasn't "for sale." Rather, it was being ignored and undermined by faceless bureaucrats in Brussels.
"Seu cabra da peste,
"Sou Mangueira......."
It seems that most stock markets, financial markets and banks wanted the UK to remain in the EU, but I would much rather hear the voice of the people than the voice of money. I would bet there is short-term pain for the folks in the UK, but I am not sold that the long-term consequences are so dire or that they outweigh the potential freedom in policy that the UK might now experience once again. I'm happy for the people in the UK and quite interested to see how this plays out.
In honor of the memory of Cpl. Michael E. Thompson
I realize this isn't a popular opinion in this thread, but I am still thrilled for the people of the UK. They were given the opportunity to vote in a referendum, they came out in large number (around 72% voter participation) and they debated the choice vigorously for four-plus months. Anyone who wanted to be educated on the topic prior to voting had the opportunity to do so, which makes me believe quite a few were aware of how Northern Ireland or Scotland might have voted. Scotland voted perhaps 62% to remain, if I recall correctly, and they voted something like 56% to remain in the UK two years ago. Does this mean that they will hold another referendum to leave the UK shortly and that they will leave? Perhaps, but if that is their will then that is their will.
It seems that most stock markets, financial markets and banks wanted the UK to remain in the EU, but I would much rather hear the voice of the people than the voice of money. I would bet there is short-term pain for the folks in the UK, but I am not sold that the long-term consequences are so dire or that they outweigh the potential freedom in policy that the UK might now experience once again. I'm happy for the people in the UK and quite interested to see how this plays out.
Not unpopular. I agree. It is democracy at its finest. There are a lot of doomsday scenarios being thrown around by financial guys like me, but in reality this is uncharted territory and no one really knows how it will all play out.
Brexit to be followed by Grexit. Departugal. Italeave. Czechout. Oustria. Finish. Slovlong. Latervia. Byegium.
Brilliant, absolutely brilliant!
Oustria is okay. I heard Austra La Vista which is pretty good.
Lance.
I realize this isn't a popular opinion in this thread, but I am still thrilled for the people of the UK. They were given the opportunity to vote in a referendum, they came out in large number (around 72% voter participation) and they debated the choice vigorously for four-plus months. Anyone who wanted to be educated on the topic prior to voting had the opportunity to do so, which makes me believe quite a few were aware of how Northern Ireland or Scotland might have voted. Scotland voted perhaps 62% to remain, if I recall correctly, and they voted something like 56% to remain in the UK two years ago. Does this mean that they will hold another referendum to leave the UK shortly and that they will leave? Perhaps, but if that is their will then that is their will.
It seems that most stock markets, financial markets and banks wanted the UK to remain in the EU, but I would much rather hear the voice of the people than the voice of money. I would bet there is short-term pain for the folks in the UK, but I am not sold that the long-term consequences are so dire or that they outweigh the potential freedom in policy that the UK might now experience once again. I'm happy for the people in the UK and quite interested to see how this plays out.
There are plainly winners and losers in the new globalized economy. And without doubt, powers that be (economic and political) can be faulted for not anticipating and addressing the genuine suffering of those whose global dominance has been eroded by globalization. But consider: massive historical alleviation of global poverty has been wrought by the openness of labor and commodity markets. Do we really want to retreat to a world of white colonialists, profiting from the mercantile labors of the "great unwashed?"
And for Europe: do people already forget 1500 years of mayhem, culminating in the technological Armageddons of the two World Wars? It was the survivors of these that conceived of a federated Europe, where mutual interests would be accommodated, and tribal wars would at long last be dispelled.
I understand the aspirations of people to regulate their own lives, free of the arrogant whimsies of elites in Brussels. But should the English (and not the Scots, Welsh or Northern Irish) have determined that reverting to the 1930s was the solution?
Cameron made a grave error, submitting the question to a begrieved electorate, viciously confronting the effects of the euro crisis and the immigrant tsunami. Leaders are elected to lead, and to make decisions.
I am not "thrilled" for the people of the UK. They were poorly led, and their leaders abdicated their responsibilities.
Here's a warning parable for coin collectors...
They took the opportunity extended to them from their own government to work within the framework of the current EU treaties in order to potentially have a greater hand in their own futures. Perhaps this will turn out more like present-day Norway than a millennium at the boot of global-depression inducing white colonialists. Regardless, they saw and lived through what the current leaders at the EU, financial and stock markets were doing and decided to try something else while staying completely within all previously agreed upon rules and guidelines.
In honor of the memory of Cpl. Michael E. Thompson
I realize this isn't a popular opinion in this thread, but I am still thrilled for the people of the UK. They were given the opportunity to vote in a referendum, they came out in large number (around 72% voter participation) and they debated the choice vigorously for four-plus months. Anyone who wanted to be educated on the topic prior to voting had the opportunity to do so, which makes me believe quite a few were aware of how Northern Ireland or Scotland might have voted. Scotland voted perhaps 62% to remain, if I recall correctly, and they voted something like 56% to remain in the UK two years ago. Does this mean that they will hold another referendum to leave the UK shortly and that they will leave? Perhaps, but if that is their will then that is their will.
It seems that most stock markets, financial markets and banks wanted the UK to remain in the EU, but I would much rather hear the voice of the people than the voice of money. I would bet there is short-term pain for the folks in the UK, but I am not sold that the long-term consequences are so dire or that they outweigh the potential freedom in policy that the UK might now experience once again. I'm happy for the people in the UK and quite interested to see how this plays out.
But with the vote razor thin at 52% to 48%, it's not an overwhelming mandate. Had a few people here and there voted differently, then remain would have won. It's a very divided country, just like we're a very divided country also with extremely poor choices to be our next president. It's the whole mentality of let's burn everything down because we don't like it, but with no clear plans for what will happen next.
I don't know that I would call 52% vs. 48% with approximately 1.2 million votes difference razor thin at all. Regardless, they were offered the referendum and have two-years, plus a third year if desired, to work out the necessary treaties after they enact Article 50 of the Treaty on EU and may even wait many more months before activating the clock. What are they supposed to do; remove 52% of the UK from the EU? Alternatively, do they ignore the clear majority of voters because it is more expedient and orderly in the short-term?
In honor of the memory of Cpl. Michael E. Thompson
I realize this isn't a popular opinion in this thread, but I am still thrilled for the people of the UK.
Actually the opinions here seem pretty evenly split. And I'm in the 52% camp.
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02121809
04151865
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the hyperbole is pretty thick in some of these posts.
Gee, ya think?
Liberty: Parent of Science & Industry
I realize this isn't a popular opinion in this thread, but I am still thrilled for the people of the UK. They were given the opportunity to vote in a referendum, they came out in large number (around 72% voter participation) and they debated the choice vigorously for four-plus months. Anyone who wanted to be educated on the topic prior to voting had the opportunity to do so, which makes me believe quite a few were aware of how Northern Ireland or Scotland might have voted. Scotland voted perhaps 62% to remain, if I recall correctly, and they voted something like 56% to remain in the UK two years ago. Does this mean that they will hold another referendum to leave the UK shortly and that they will leave? Perhaps, but if that is their will then that is their will.
It seems that most stock markets, financial markets and banks wanted the UK to remain in the EU, but I would much rather hear the voice of the people than the voice of money. I would bet there is short-term pain for the folks in the UK, but I am not sold that the long-term consequences are so dire or that they outweigh the potential freedom in policy that the UK might now experience once again. I'm happy for the people in the UK and quite interested to see how this plays out.
But with the vote razor thin at 52% to 48%, it's not an overwhelming mandate. Had a few people here and there voted differently, then remain would have won. It's a very divided country, just like we're a very divided country also with extremely poor choices to be our next president. It's the whole mentality of let's burn everything down because we don't like it, but with no clear plans for what will happen next.
The one thing a poor man and a Warren Buffet type have in common is that their votes count the same, but there a lot more poor people.