BBC just called it. Brexit won.
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Originally posted by snapper View PostDo I think? No I know! FTSE Futures down 7+%, GBP down 10+%... lowest level GBPUSD since 1985. DOW down 3%... that's $600bn gone. You may think it is just numbers but this is peoples money - some of it mine - that we use to invest to create jobs and growth.There’s a state of shock in the City this morning, as investors digest the news that Britain appears to have voted to leave the European Union.
Markets had rallied yesterday on expectations that the Remain side would win, so traders are now facing the prospect of a huge selloff this morning.
There of course have always been financial turmoils after each such big event like this.
And if its all about the money, then the US would still be a part of the Kingdom now.
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I voted remain Dok.
It's not just the British markets that are taking a hit: #Nikkei -6.7% #Kospi -3.5% #Taiex -2.3% #Sensex -2.9% #HS -4.1% #SSE -1.2% #STI -2.4% #ASX -3% #CSI -1%, the DOW is likely to open 3% down - thats $600bn lost overnight...
Next Scotland will want another independence vote - Germany gets full control of the continent... it is an appalling miscalculation the consequence of which are only dark.
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Not all that own shares are "speculators"; your pension and mine are invested in the markets and so is peoples savings (mine included). Yet the Brexit people said that predictions of this were untrue... Nor is it all about the economics - this is the end of the Britain as a united Kingdom quite likely and the geo strategic consequences are just horrendous. Germany is now freer to do a deal with Muscovy and that makes war and the break up of the EU as a whole more likely.
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Originally posted by snapper View PostNot all that own shares are "speculators"; your pension and mine are invested in the markets and so is peoples savings (mine included). Yet the Brexit people said that predictions of this were untrue... Nor is it all about the economics - this is the end of the Britain as a united Kingdom quite likely and the geo strategic consequences are just horrendous. Germany is now freer to do a deal with Muscovy and that makes war and the break up of the EU as a whole more likely.
And reading the remain camp comments all over the internet make them really look like a bunch of childish losers.
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When $3-4trillion is wiped off markets overnight it is NOT speculators who are losing - they have been shorting and probably made money of this. It is companies who's shares are owned by ordinary people and pension funds etc... That means companies are not worth so much and therefore cannot raise money should they wish to so easily. Tata Steel has already hinted it will pull out of the UK; 14,000 jobs at stake there alone. But this is the unimportant stuff - the immediate fall out of this mad miscalculation; the break up of the UK and the EU and the increased chances of Muscovite adventurism are far more dangerous.
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Now wouldn't it be wiser to see how things settle out in a few weeks rather than a few hours? Right now the markets seem to be in panic mode, since markets like steady as she goes, and that is out the window right now. NYSE probably will drop tomorrow not that it bothers me as it has been overexuberant for years.Last edited by tbm3fan; 24 Jun 16,, 06:54.
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Originally posted by snapper View PostI voted remain Dok.
It's not just the British markets that are taking a hit: #Nikkei -6.7% #Kospi -3.5% #Taiex -2.3% #Sensex -2.9% #HS -4.1% #SSE -1.2% #STI -2.4% #ASX -3% #CSI -1%, the DOW is likely to open 3% down - thats $600bn lost overnight...
Next Scotland will want another independence vote - Germany gets full control of the continent... it is an appalling miscalculation the consequence of which are only dark.No such thing as a good tax - Churchill
To make mistakes is human. To blame someone else for your mistake, is strategic.
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Shocked at what I just woke up to. We needed an alternative voice at the EU level to counterbalance the Germans, we just lost it.
We need an EU more together than on a road divided, it seems we turned down that one too.
This could be a problem in northern ireland which voted remain although I expect there won't be too much fallout.
General consensus is that this will be very damaging to the Republic of Ireland financially, so very disappointed and worried this may set back a full recovery from our severe recession by several years. We will have lots of unwelcome uncertainty as the Brits negotiate an exit that may take years.
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Originally posted by snapper View PostWhen $3-4trillion is wiped off markets overnight it is NOT speculators who are losing - they have been shorting and probably made money of this. It is companies who's shares are owned by ordinary people and pension funds etc... That means companies are not worth so much and therefore cannot raise money should they wish to so easily. Tata Steel has already hinted it will pull out of the UK; 14,000 jobs at stake there alone. But this is the unimportant stuff - the immediate fall out of this mad miscalculation; the break up of the UK and the EU and the increased chances of Muscovite adventurism are far more dangerous.
Besides, the key word here is "panic short-term fluctuation".
And really what EU has anything to do with "Muscovite adventurism"? What capability does it have to deal with Putin?
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Originally posted by snapper View Post$400bn loss from the UK economy overnight... or 42yrs worth of payments for EU membership.No such thing as a good tax - Churchill
To make mistakes is human. To blame someone else for your mistake, is strategic.
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