Brexit: Independence Day 2

Posted: June 24, 2016 in Uncategorized

Well the first was even more scary…Battle of Britain in 1940….not much about stocks..but real lives.

Germany rules Europe via an un elected European Commission dominated by Germany

This is just the continuation of the rise of populism as the political class failed the people.

It is the same of the rise of Trump and all the euroskeptic movements.

The establishment loves Europe…the people suffer and protest.

The UK referendum is not binding and there are already pro Euro MPs that are trying to stop the referendum (well it already happened in Greece), but I believe that England has a history of democracy.

If not…stop complaining of Russia and China!

I warned the last days that the polls and even bets were not predictable.

Yes there will be stock market consequences, but even more political fallout.

Scotland and Northern Ireland were almost totally pro Euro (another referendum to spilt the UK?). The Danish are already contemplating DEexit. The 26 June the Spanish are voting.

The power inside Europe also wills shift as France was using the UK to counterbalance Germany in the battle for Europe.

Also with the UK Pound drop the exporters will have a boom and UK properties are 10% cheaper. If Brexit is well managed, it could set an example.

But initially there is a crisis. The SP 500 have an old target in mind first 1920 and then 1820. But let’s see what the Reserve Banks pull out of their hats.

As Mao Tse-tung said

“A revolution is not a dinner party, or writing an essay, or painting a picture, or doing embroidery; it cannot be so refined, so leisurely and gentle, so temperate, kind, courteous, restrained and magnanimous. A revolution is an insurrection, an act of violence by which one class overthrows another.”

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