Always bet on the Brits -BREXIT is happening

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Mikah
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23 Jun 2016, 11:37 pm

And so the pushback against globalism and the Left begins. The destruction of the EU is entirely possible, the destruction of the home parties, reversing much of last 40 years of Western policies. Enjoy the chaos we sow.


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LoveNotHate
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23 Jun 2016, 11:41 pm

THANK YOU!

As I said in the other Brexit topic a few days ago, I moved all my investments to cash in expectation of a "leave" vote, and now the US markets are crashing.

Now I can buy back in at a much lower price.

Thank you.



Darmok
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23 Jun 2016, 11:45 pm

Your unruly child, America, congratulates you on your independence, UK.

Image


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Mikah
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23 Jun 2016, 11:52 pm

I'm not betting the British "Independence Day" will catch on. Not exactly a heroic battle. But perhaps the day will be remembered differently in Europe as the EU breaks up. Remember France is more anti-EU than Britain right now. Can expect the Nationalist party there to see massive gains. This is huge.


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Grischa
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24 Jun 2016, 12:29 am

congratulations brits
Here in the Netherlands we wait for a NEXIT



Jacoby
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24 Jun 2016, 12:53 am

Nige did it! The globalists lose!



slave
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24 Jun 2016, 1:00 am

LoveNotHate wrote:
THANK YOU!

As I said in the other Brexit topic a few days ago, I moved all my investments to cash in expectation of a "leave" vote, and now the US markets are crashing.

Now I can buy back in at a much lower price.

Thank you.


Wouldn't it have been more cost effective to just short the market and avoid the cost of redemptions in your move to cash????


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Dillogic
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24 Jun 2016, 1:03 am

No idea why anyone thought having different countries governing certain things over you, would work for singular democratic countries that fluctuate and change to domestic and world events.



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24 Jun 2016, 1:10 am

It will be interesting to see if this will trigger another Scottish independence vote.

Scotland voted - with a moderate margin - to remain within the UK in 2014. However, given that the Scots are strongly in favor of EU membership, it is possible that these recent results may trigger a new referendum.

The first minister of Scotland has just hinted that this might just happen:
http://europe.newsweek.com/scotland-sco ... 3956?rm=eu

Sinn Fein has also called for a border poll (pertaining to a re-unification of Northern Ireland with Ireland) given that voters in Northern Ireland were also in favor of staying within the EU. I think this would be less likely than Scottish independence, though, given the historically large majority in Northern Ireland in favor of staying in the UK.

It will also be interesting (=scary) to see exactly how costly Brexit will be for the UK, as this will depend on the future trade relations between the UK and EU. The EU obviously doesn't have a lot of incentive to give the UK favorable future trade terms, as this would effectively "reward" the UK for leaving the EU.

Furthermore, the UK no longer has any leverage in negotiations with the EU (the leverage was the threat to leave, which has now become reality), so the EU really doesn't have any reasons to give any concessions on trade issues to Cameron (or his likely soon-to-be successor).

And finally, the timeframe of the negotiations will in itself create uncertainty about the UK economy, which will add to its economic woes. It may take years to reach a full agreement with the EU, and some businesses may choose to allocate their investments to other countries with a more stable access to the European market than the UK during this process.

EDIT: The following tweet by the leader of the largest party group in the European Parliament tends to confirm the above suspicions:
https://twitter.com/ManfredWeber/status ... 2542528512


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Last edited by GGPViper on 24 Jun 2016, 2:02 am, edited 1 time in total.

LoveNotHate
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24 Jun 2016, 1:36 am

slave wrote:

Wouldn't it have been more cost effective to just short the market and avoid the cost of redemptions in your move to cash????

I invest in "management fee" mutual funds, not actual stock transactions, and no redemption fee.



Jacoby
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24 Jun 2016, 1:56 am

I think the implications of this is the imminent demise of the European Union

France and Netherlands want their own referendums, there will be others



Darmok
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24 Jun 2016, 1:58 am

Some folks down along the US border are calling for Texit to be next. :mrgreen:


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GGPViper
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24 Jun 2016, 5:52 am

The first minister of Scotland (Nicola Sturgeon) just suggested that she will begin making preparations for another Scottish vote on independence.

http://www.bbc.com/news/uk-scotland-sco ... s-36621030

All 32 council areas of Scotland votes in favor of staying in the EU, and the prospect of remaining within the EU (or not) was a major point of concern in the 2014 referendum to remain within the UK, so this recent development is not so surprising.


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mr_bigmouth_502
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24 Jun 2016, 6:46 am

Honestly, I'm not surprised. The UK was always kind of the odd one out in the EU since they do certain things differently, the biggest thing being their currency.


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BenderRodriguez
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24 Jun 2016, 6:55 am

^
Don't forget driving on the wrong side of the road :P

It took me living there for a couple of years to realise how different the Brits are from Europeans in many ways. I like them though.


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The_Face_of_Boo
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24 Jun 2016, 7:32 am

It was an idiot move in my opinion, you probably f****d up your economy.

Many businesses will escape UK and relocate in Germany and France.

And Putin is laughing.

Let's see if the Brits will be as happy when Scotland, northern Ireland and Wales want to be out of UK too.