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This is another shot that was heard all around the world...

It was fired directly at the globalists in Brussels...

And it is a very much needed first step towards self-determination...

Self-determination is the fundamental goal of Liberty...

It appears that the UK is very much divided on this issue and others...

America is similarly divided nine ways to Sunday...

Boiled Down - It is individualism vs collectivism...

Perhaps one day, Texas will fire a shot at the globalists in DC...

Texit anyone?
 
This is another shot that was heard all around the world...

It was fired directly at the globalists in Brussels...

And it is a very much needed first step towards self-determination...

Self-determination is the fundamental goal of Liberty...

It appears that the UK is very much divided on this issue and others...

America is similarly divided nine ways to Sunday...

Boiled Down - It is individualism vs collectivism...

Perhaps one day, Texas will fire a shot at the globalists in DC...

Texit anyone?
lls.jpg

Check out his latest book.
 
In the short run, nobody knows what is really going to happen, and nobody can predict what is going to happen...

Except, ooops, it looks like the politicians leading the Brexit movement are taking away some of their earlier pre-election promises that this will cut migration and result in England having more money:

"But within hours of the result on Friday morning, the Ukip leader, Nigel Farage, had distanced himself from the claim that £350m of EU contributions could instead be spent on the NHS, while the Tory MEP Daniel Hannan said free movement could result in similar levels of immigration after Brexit."

Well, I guess we could have predicted that politicians would make false promises, but other than that, it all seems to be up in the air.

Don't forget May calling for the removal of the EU Human Rights protection that prevent too gross exploitation of the work classes (among others) which doe snot need to go as the principals have already been written into UK law.

Amazing that 17,000,000 have sold themselves, their kids and their goldfish down the river into debt, servitude and depression for the benefit of a collection of silver spooned right-wing extremists.

Shame really.

I for one am crying into my beer on behalf of my kids and the nation and world they are no looking at. No fun being a child of a leper nation.
 
In the short run, nobody knows what is really going to happen, and nobody can predict what is going to happen...
.

Not true. Companies are already deciding not to invest in the UK anytime soon, or stopping/downscaling existing plans to do so. I'm aware personally of two companies, though I can't give names due to confidentiality. Longer term implications are fuzzier, but short term, UK just screwed itself.
 
Winston - you posted a lot of very interesting info, almost all of which I agree with.

Where I disagree is:

1) That any of what you said has anything to do with why people voted to leave.
Oh, I agree 100%, but they made the right choice without actually knowing how so very right they were. If not a debt-based worldwide economic crisis that will make the 2007/8 global financial crisis look like child's play, the only other path for the entire world economy is simply DOWN.

Massive amounts of new DEBT accrued worldwide brought us out of the last crisis, mostly thanks to the sort of China that will be no more than a very big part of the problem next time, but that was only a bandaid which didn't fix what actually caused the problem in the first place - TOO MUCH DEBT! The "fix" was like "curing" a meth addict by providing him with more meth. The withdrawal pains may go away, but the problem AIN'T fixed. In the long run, you've made it worse since eventually the addict simply dies.

Look at the U.S. economic graphs shown below. I've got links to a BAZILLION just like them pertaining to the various economies of the world.

When the EU goes down, and slow or fast it eventually will, it would be best for the UK not to be chained to it.

2) That being separate from the EU will result in any sensible fiscal policy from the UK govt or BoE.
I agree with that, too, but at least any stupidity will then be exclusively THEIR fault, not that of some overpaid, unelected bureaucrat in Brussels.

I'm afraid the reason most folk voted to leave was a combination of:

1) 40 years of UK politicians blaming everything that went wrong with the UK on the EU rather than facing their own bad decisions.
2) Leading to a general feeling against "foreigners" among the great unwashed, making immigrants into scapegoats for all the ills of the country and immigration a hot button topic.
3) Massive propaganda campaign of truly epic lies and deception on behalf of UKIP/Farage/etc. to tap into that feeling.
None of that matters. What matters is that they made the right choice for economic and debt liability reasons.The EU was a very poorly designed, half-arsed system from day one, doomed to fail as it now is, as is greatly detailed in the info at the links I've posted about that earlier.

My arguments for Brexit are STRICTLY from a long term UK economic one based upon the facts from those very few economic experts in the U.S. who actually know what's going on in the U.S. and world economies. And it most certainly AIN'T what you're being told by the clueless clowns who got us here or by the same mainstream financial media that was yelling "buy, buy, buy!" right up to the 2008 crash and ridiculing on air those few who were warning about it in advance.

On Farage, I just happened to watch one of his videos today for the first time in a very long time (not about Brexit) and his views on a particular ongoing geopolitical conflict were absolutely 100% correct, went totally against the usual "cover story" BS heard in most of the western media, and would have taken a significant amount of research of reputable sources to find. I was impressed.

In the news:

Berlin - German Chancellor Angela Merkel on Friday warned EU member states against drawing hasty conclusions about Britain's decision to quit the bloc, as that risked further splitting Europe.

German Foreign Minister Frank-Walter Steinmeier said as he was heading into a Berlin meeting with his counterparts from the EU's six founding members, "I am confident that these countries can also send a message that we won't let anyone take Europe from us."


FROM "us"?

As Steinmeier scrambles to reassure naive onlookers how "peaceful and stable" the European project remains, what he is most worried about is not just another EU member nation quitting, but specifically a nation that is a member of the Eurozone, and shares the Euro. If that happens, it's all over.

As Barclays wrote overnight, the biggest potential worry is that another country, especially one that is also part of the EMU, might set out on a political path towards exiting the EU and EMU. While a country leaving the EU is a big event, one potentially leaving the EMU would be a much bigger deal.


It is fully expected that they will intentionally make Britain's exit from the EU as financially painful as possble to discourage that. As each member departs, the already ridiculous EU outstanding debt problem will be distributed among fewer and fewer members even as that debt inevitably becomes increasingly nonperforming (i.e. interest or principle not paid), thereby providing even more of an incentive to get the hell out.

Juncker Proclaims Himself All-Knowing God of EU

https://mishtalk.com/2016/06/20/juncker-proclaims-himself-all-knowing-god-of-eu/

European Council president Jean-Claude Juncker proves just how scary it is to belong in the EU. Juncker actually stated your vote should be ignored, unless of course you agree with him.

"Prime Ministers must stop listening so much to their voters and instead act as 'full time Europeans'”, according to Jean-Claude Juncker.

“Too many politicians are listening exclusively to their national opinion. And if you are listening to your national opinion you are not developing what should be a common European sense and a feeling of the need to put together efforts. We have too many part-time Europeans.”

Other than being a pompous buffoon, Jean-Claude Juncker is most famous for his statement “When it becomes serious, you have to lie":

"On March 29, when speculation swirled that Portugal needed a bailout, Prime Minister Jose Socrates denied - again - that that would happen despite clearly unsustainable market pressures. Just eight days later, in a chastened appearance on national television, Socrates did just that.

For Jean-Claude Juncker, the prime minister of Luxembourg, the threat of immediate market turbulence means the usual norms of transparency don’t apply. 'When it becomes serious, you have to lie,' Juncker, who as the chairman of the regular meetings of eurozone finance ministers is one of the currency union’s key spokesmen, said in recent remarks."


On the stupid claim that Brexit is some great "right wing" conspiracy:

World’s 400 Richest People Lose $127 Billion on Brexit

https://www.bloomberg.com/news/arti...chest-people-lose-127-billion-on-brexit-chart

Bravo Brexit!
by David Stockman - June 24, 2016

https://davidstockmanscontracorner.com/bravo-brexit/

David Stockman - Washington insider turned iconoclast, Stockman was the Director of the Office of Management and Budget under President Ronald Reagan, serving from 1981 until August 1985. He was the youngest cabinet member in the 20th century.

In his latest New York Times best-seller, The Great Deformation: The Corruption of Capitalism in America (2013), Stockman lays out how the U.S. has devolved from a free market economy into one fatally deformed by Washington’s endless fiscal largesse, K-street lobbies and Fed sponsored bailouts and printing press money.


https://www.amazon.com/dp/1586489127/?tag=skimlinks_replacement-20

On the U.S. economy:

Not a Plunge (yet) but a Long, Slow Grind Lower
Without any real end in sight. That’s what’s different this time.

https://wolfstreet.com/2016/06/24/not-a-plunge-but-a-long-slow-grind-lower/

US-durable-goods-2016-05.png


US-Inventory-Sales-ratio-2008-2016-04.png
 
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Commentary by billionaire George Soros from today:

https://www.project-syndicate.org/c...ntegration-inevitable-by-george-soros-2016-06

Excerpts:

"Now the catastrophic scenario that many feared has materialized, making the disintegration of the EU practically irreversible. Britain eventually may or may not be relatively better off than other countries by leaving the EU, but its economy and people stand to suffer significantly in the short to medium term.

Brexit will open the floodgates for other anti-European
(NO, anti-EU - W) forces within the Union. Indeed, no sooner was the referendum’s outcome announced than France’s National Front issued a call for “Frexit,” while Dutch populist Geert Wilders promoted “Nexit.”

Yet the EU truly has broken down and ceased to satisfy its citizens’ needs and aspirations. It is heading for a disorderly disintegration that will leave Europe worse off than where it would have been had the EU not been brought into existence."


And that "disorder" and "worse off" part will be due to the poor design of the system and the vast amount of essentially unsecured debt based spending it allowed, the very same cause at the root of the 2008 global financial crisis. The end of the EU was inevitable since debt based finance cannot increase exponentially forever. I do expect the end will come very gradually, though, not overnight. I think Soros is exaggerating because he's shorting the Pound and the more the market panics, the more money he makes. Yes, some people are that unethical.

Stupid is as stupid does.

https://www.urbandictionary.com/define.php?term=stupid is as stupid does

"It means that an intelligent person who does stupid things is still stupid."
 
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:) Only way to get through the day :)
Exactly. Don't fret over things you can do absolutely nothing about. Just do your best to let people know WHY things are happening, so they can know the truth when the finger pointing begins.
 
This is another shot that was heard all around the world...

It was fired directly at the globalists in Brussels...

And it is a very much needed first step towards self-determination...

Self-determination is the fundamental goal of Liberty...

It appears that the UK is very much divided on this issue and others...

America is similarly divided nine ways to Sunday...

Boiled Down - It is individualism vs collectivism
Perhaps one day, Texas will fire a shot at the globalists in DC...

Texit anyone?

As someone who was born & raised in NYC & escaped the that oppressive nanny state 42 years ago to the self reliant great state of TEXAS, I say H€LL YES. Don't worry about Texas seceding, worry about us invading!:cool:
 
Oh, I agree 100%, but they made the right choice without actually knowing how so very right they were. If not a debt-based worldwide economic crisis that will make the 2007/8 global financial crisis look like child's play, the only other path for the entire world economy is simply DOWN.

You're missing the point - it's only the right choice if the UK Govt and BoE are actually going to do anything different - they aren't. You seem to be stuck in a rut focused on the banking world while in every single way that counts the UK will be much worse off economically and they still won't have a better banking policy either.

On Farage, I just happened to watch one of his videos today for the first time in a very long time (not about Brexit) and his views on a particular ongoing geopolitical conflict were absolutely 100% correct, went totally against the usual "cover story" BS heard in most of the western media, and would have taken a significant amount of research of reputable sources to find. I was impressed.

This is the same guy who has recently taken up smoking again because "I think the doctors have got it wrong about cigarettes" I guarantee that anything which Farage says that happens to be correct is an absolute accident on behalf of a racist, over privileged dumb-ass.
 
DBBj5jw.jpg


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Last edited by troj; 1st November 2013 at 09:39 AM.

TL; DR.

Meh!
 
This is the same guy who has recently taken up smoking again because "I think the doctors have got it wrong about cigarettes" I guarantee that anything which Farage says that happens to be correct is an absolute accident on behalf of a racist, over privileged dumb-ass.

+1 to that. What England/Scotland/Wales/NI need right now is calm experienced statesmanship (or stateswomanship), not a blowhard with no experience of office who's actually tried to get elected to Parliament 7 times and failed, or says unbelievably crass things like 'we won without a shot being fired' (shots were, in fact, fired) or 'this was a victory for decent people' (so, err, 48% of the electorate are somehow 'indecent'..?) The tone of the referendum debate here in the UK (various blow hards and tabloids pumping up the rhetoric and xenophobia around immigration, blaming other countries that are our allies for our problems) on the one side, and an unfortunate mixture of dire threats and condescension on the other side, created more heat than light, and didn’t do us any favours either domestically or internationally. The neighbours heard the cursing and the shouting. Young people who voted overwhelmingly to stay in the EU, feel crushed about their prospects. Visitors and recent immigrants say they’ve been made to feel unwelcome. An elected Member of Parliament, going about her mandated work of listening to her constituents, was shot and stabbed. That philistine trend amongst a certain kind of politician these days, to not just question research and expert opinion, but simply dismiss it and invent 'facts' of their own (like Farage with cigarettes), was strongly evident.

Referenda always present a problem, insofar as not every issue can be answered Yes/No forever. It's worth remembering even Margaret Thatcher (no fan of the EEC / EU) always opposed holding a Yes / No referendum on this very issue, as well as others. Her view was that referenda are ‘a device of dictators and demagogues’.

You don’t want to destroy something before you know exactly what you’re going to replace it with. The UK can’t build another set of deals, pacts and treaties with each individual country in Europe overnight. Now there’s a vacuum. Doors are slamming. Economically, sure, things will play out one way or t'other. Maybe this isn't a 2008, maybe it will be. But in terms of society and the civics of this, the result so far looks like division and fragmentation, with recrimination and the almost certain breakup of the UK on the horizon.

This will have no effect on The Hobby. Don't worry, be happy.

Not immediately, but there are good suppliers and vendors in Europe that it will cost more to buy from, and if in time Welsh and English fliers need to cross an EU border to get to Scotland, it's going to have a big effect on getting rockets and motors to Fairlie Moor for International Rocket Week. Also, if there’s a recession, some of us might have less money to burn…:sad:
 
https://wolfstreet.com/2016/06/25/brexit-blowback-hits-italian-spanish-banks/

Excerpts:

The prophets of Project (Brexit) Fear reaped what they’d sown, as financial carnage spread across global markets on news that a slim majority of British voters had done the unthinkable by drowning out the relentless doomsaying and voting to leave the European Union.

The pound sterling plunged 8% against the dollar, to $1.37, its lowest level in three decades. The euro fell 1.93%, in itself a huge one-day move for a major currency. UK stocks surrendered over 3% of their value. But that was nothing compared to the havoc unleashed in other European stock markets.

Germany’s DAX plummeted 7%; France’s CAC 40 over 8%. But even that pales compared to what happened in Spain and Italy: the IBEX 35 plummeted 12.3% and the FTSE MIB 12.5%. It was their worst day on record.

The UK economy may be in for a hellishly bumpy ride in the months and years ahead, but the fact that London’s FTSE 100 was Europe’s least worst performing stock market on this day of all days suggests that Europe’s biggest financial risks probably lie elsewhere. And that is in euro land, in particular on its southern flank.

The unpalatable truth, as even the former governor of the Federal Reserve, Alan Greenspan, conceded today, is that the euro “is failing”:

"It is a very serious problem in that the southern part of the euro zone is being funded by the northern part and the European Central Bank."

Another serious problem (on which Greenspan was somewhat less forthcoming) is Europe’s swelling ranks of heavily leveraged, scantily capitalized, bad-loan bedeviled, zombified banks. It was they whose stocks plunged the most today. Despite the fact that central bankers around the world, led by the Bank of England’s Mark Carney, the ECB’s (European Central Bank) Mario Draghi and the Federal Reserve’s Janet Yellen, had pledged to print into existence countless billions of pounds, euros and dollars in a last-ditch attempt to backstop Europe’s crumbling financial system, the EU Stoxx 600 Banking index plummeted 14.5%.

However much money the ECB will conjure out of nothingness in the coming days under the pretext of warding off Brexit-induced chaos, it won’t be enough to undo the gargantuan problems plaguing the Eurozone’s banking system.
 
But they are (pending action by Parliament) part of the European Union. The two are related, but not quite the same.

Okay, just checking.
The EU is an open-border treaty, basically. It has many business benefits that have served to destroy wages and unions, among other things. All regulations have to be passed not only by the members but by the never nations' governments, so no nation had anything forced upon it that its own elected Parliament didn't agree to.
...
The Euro Zone is nothing more than a treaty agreeing to use the same currency, the Euro. This hands over control of the currency to a central organized body, and has had far reaching negative consequences for most of the member nations, basically all except for Germany and France. Britain has never accepted membership in the Euro Zone and thus has never been bound by its regulations.
...
I'll bet a huge chunk of the British didn't realize this as they voted. Hence the immediate Google searches...
 
Okay, just checking.
The EU is an open-border treaty, basically. It has many business benefits that have served to destroy wages and unions, among other things. All regulations have to be passed not only by the members but by the never nations' governments, so no nation had anything forced upon it that its own elected Parliament didn't agree to.
...
The Euro Zone is nothing more than a treaty agreeing to use the same currency, the Euro. This hands over control of the currency to a central organized body, and has had far reaching negative consequences for most of the member nations, basically all except for Germany and France. Britain has never accepted membership in the Euro Zone and thus has never been bound by its regulations.
...
I'll bet a huge chunk of the British didn't realize this as they voted. Hence the immediate Google searches...

The Google searches are very telling indeed. It's difficult to tell what people did know, but reports suggest that the Out campaign's 'Take Control' slogan was a winner, which is also telling. There's been a lot of stories in the media over the weekend about people saying they didn't realise what it would mean, including towns where the majority voted to leave and are now upset to learn that EU grants and investment will stop. Two cockney geezers in the pub on Saturday had spent all of Friday getting blotto because, they said, lots of money would be saved on not paying EU bureaucrats (a steady theme in the tabloid press for many years). They said they were angry that one had retired with an 84K Euro pension. Neither normally bothered to vote in elections but had voted this time as they felt it could make a difference. Actual economic arguments were less evident in the last few weeks (except on that basic level of 'saving money'). Stopping immigration and 'getting our country back' dominated: e.g. the idea that leaving the EU would reduce immigration (both sides now admit it won't and can't) and that money saved in EU subscription fees would be spent on the National Health Service (again, that's now been disowned/denied by the politicians who said it, even though it was on posters). Obviously, both issues are inflammatory, especially in those regions or demographics where it can be mixed with poverty and/or a sense of having missed out on life chances / opportunities that globalisation has brought some of the population.

In terms of currency I'd say most people knew that Britain wasn't using the Euro - simply because we have GBP currency in our wallets, Euros are not accepted in UK shops, and we have to exchange GBP for Euros when we go to Eurozone countries on holiday, which of course a lot of people do. As you say, it's also been express policy both under both Labour Liberal-Democrat/Conservative and Conservative governments not to adopt the Euro.
 
China Devalues Yuan Most In 10 Months As Premier Li Warns Of Brexit "Butterfly Effect" On Financial Markets, Economy

https://www.zerohedge.com/news/2016...ier-li-warns-brexit-butterfly-effect-financia

"In a somewhat shockingly honest admission of the fragility of the global financial system, Chinese Premier Li warns that a disillusioned British butterfly has flapped its wings and the entire global financial system could collapse. Responding to the plunge in offshore Yuan since the Brexit vote (down 7 handles to 5-month lows over 6.65), PBOC devalued Yuan fix by 0.9% (6 handles) - the most since the August crash - to Dec 2010 lows."

Kyle Bass from THREE YEARS ago. His latest call is major Chinese yuan devaluation due to their huge, systemic problems there:

[video=youtube;Xmj_jQ2HfCg]https://www.youtube.com/watch?v=Xmj_jQ2HfCg[/video]

20160626_brexit2.jpg
 
I read that the 350 million Pounds Sterling that Great Britain would save by not sending it to the EU each week has been recalculated to about 150 million Pounds Sterling. Apparently, they were ignoring the 200 million that the EU sent back to Great Britain. Still, 150 million Pounds Sterling is nothing to sneeze at.
 
I believe what the column linked to below describes is very close to what is going to (eventually) happen (and already IS happening). The current challenges to the US dollar as the world's reserve currency aren't credible for a large number of reasons and will become even far less credible as the EU and euro recede, China continues its very hard landing or outright crashes, and same for Japan. The cycle will begin again as China and the EU (or independent European nations) recover (Japan is a real basket case) and the challenge to US dollar hegemony grows once again.

Could the U.S. Become the Unrivaled Superpower Again?
January 29, 2015 - Charles Hugh Smith

https://www.oftwominds.com/blogjan15/superpower-US1-15.html

Once again, the following three year old video is a PERFECT six minute overview of the worldwide problem now, perhaps, finally reaching a head:

[video=youtube;Xmj_jQ2HfCg]https://www.youtube.com/watch?v=Xmj_jQ2HfCg[/video]
 
So 3 days on and this is what we are dealing with now...

[video=youtube;0Kqvr6eGyYs]https://www.youtube.com/watch?v=0Kqvr6eGyYs[/video]

oh and this...

[video=youtube;rCghi2rVaWY]https://www.youtube.com/watch?v=rCghi2rVaWY[/video]

Shame really...

And just to cap it all off Stirling down to a 31 year low :(
 
Quotes from today:

"Brexit is a reminder some things just shouldn’t be decided by the people." - The Washington Post

European Parliament President Martin Schultz (from Germany; for the importance of that, see the figures below): "The British have violated the rules. It is not the EU philosophy that the crowd can decide its fate."

Investigating Deutsche Bank’s €41.9 Trillion Derivative Casino in Wake of Admission it Rigged Gold and Silver
(corrected title)

https://mishtalk.com/2016/04/15/inv...-wake-of-admission-it-rigged-gold-and-silver/

Nothing further could possibly go wrong with €41.90 trillion in what are essentially casino bets with, even before this, a mere €20 billion in profits (.048%).

Right?

It's almost funny when you know the underlying FACTS.
 
I read that the 350 million Pounds Sterling that Great Britain would save by not sending it to the EU each week has been recalculated to about 150 million Pounds Sterling. Apparently, they were ignoring the 200 million that the EU sent back to Great Britain. Still, 150 million Pounds Sterling is nothing to sneeze at.
In reality, no matter what they THOUGHT they were voting for, what they have hopefully accomplished is to unchain themselves from a sinking ship, a badly conceived one from the start. Fast or slow, the debt issue alone leads nowhere but down for the EU and by not being a part of the union, a country is not liable for covering the debts not paid by other members.

That debt issue is the result of just one of the fatal flaws of their system: "The Union consolidated power over the shared currency (euro) and trade but not over the member states’ current-account (trade) deficits and budget deficits. While lip-service was paid to fiscal rectitude via caps on deficit spending, in the real world there were no meaningful controls on the creation of private or state credit or on sovereign borrowing and spending."

Sort of like the sub-prime lending fiasco in the US, the wealthy banks of Europe (mostly German) loaned vast sums of money to bad credit risk countries who then spent that money on wealthy EU member exports and services. In order for their system to have any chance of working in the long run, individual nations of the EU would have had to, effectively, surrender control of their national budgets to the EU commission and that is FAR more of a loss of true national sovereignty than what the Brits have rightfully complained about.
 
I have yet to talk to a Brit who feels Brexit is a good idea (n=25 or so). But I talk to business people exclusively, in a business that is global in nature.

Oddly enough most (not all) of the people (and not business folk) I have met since the fateful day are either remains or regretful leaves. A smattering of 'did not votes' (why?) in there too but very few solid leavers. This is very odd as living in Wales the majority actually voted for exit. Where did they go to I wonder? Are there a lot of 'I did for the crack' and 'I did not understand what I was doing and am now too embarrassed to say so'? Who knows.

What ever happens from here on in we (the British) will have a very interesting summer on our holidays ;)
 
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