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 UK's Brexit

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Diseasel



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PostSubject: UK's Brexit   June 24th 2016, 1:22 am

Crazy how inaccurate the pre-vote polling was over there. Maybe it was an attempt to influence the voters.

For now they say the UK vote is to leave the euro. If so it's going to leave a mark on the euro currency and maybe other countries will also rush for the doors. It sounds like the recent Muslim immigration was part of the catalyst. Germany PM Merkel bullied herself into this one.

It's hard to believe but overnight the US dollar is much stronger and US treasuries are in demand from a global flight to safety.

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ggbaird



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PostSubject: Re: UK's Brexit   June 24th 2016, 9:05 am

Yup, world markets are going crazy over the vote. And the UKs Prime Minister David Cameron announced his resignation over the outcome too.
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Diseasel



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PostSubject: Re: UK's Brexit   June 24th 2016, 10:04 am

Obama has been taking some hits from the Supreme Court and now this. And Trump is digging it with some saying UK is having its Trump moment. Maybe Merkel and Lagarde will resign too.

Still no specifics from Germany about that cinema shooter.
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Truth
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PostSubject: Re: UK's Brexit   June 24th 2016, 10:27 am

I'm gonna go out on a limb here, mountain out of a mole hill. Once initial shock wears off and doomsday naysayers have had their moment in the sun, the world will go on. That doesn't mean exits are over, surely their will be more. Apparently their will be exits from this country if Trump is elected, I only hope they are one way exits.
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theshyguy



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PostSubject: Re: UK's Brexit   June 24th 2016, 12:13 pm

I agree Truth. Once they realize that the world will not implode just because the UK is likely going to leave the EU and potentially Scotland re-voting for independence, back to the usual noise. I do not think its that big of a deal but of course I am not intensely informed of the EU/UK inner-workings. But the UK never adopted the Euro as its currency(the Pound took a multi decade beating) and it has pushed back against EU initiatives before so I think its a lose of name more than anything.

I wonder how this might effect Greece staying in the EU and continue to get financial support and the immigrant influx from the ME and Africa. The UK people are tired of the demanding and ungrateful and free loading immigrants.
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Truth
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PostSubject: Re: UK's Brexit   June 24th 2016, 12:39 pm

Exactly, and what are they gonna do with the money they're not having to pump into the EU? UK was a special case in that they never adopted the euro, leaving the union will be much easier than say Greece, imagine them having to reintroduce the drachma. That is probably the biggest worry for the EU. If the union somehow dissolves, the euro will be worthless. Not likely to happen for that reason.
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Diseasel



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PostSubject: Re: UK's Brexit   June 24th 2016, 12:49 pm

Exactly, the UK wasn't totally wrapped within the Euro currency as they still used the pound. But the goal of the EU/Euro was to create a stable currency and economy across many countries, benefiting from the power of larger numbers. Some opted out some never opted in as it wasn't perfect.

The Euro was a good competition to the US dollar. Now it looks like there will be less stability, less cooperation, more conversion costs, and poorer economies. And more struggling countries will put the pressure on the richer countries like Germany. Recall German citizens haven't been happy with keeping Greece, Spain, etc afloat.  

We'll see. It sounds like some politicians are trying to downplay it all. I'd guess stock markets will continue to decline.
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Truth
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PostSubject: Re: UK's Brexit   June 24th 2016, 3:15 pm

Might be a good time to buy pounds. Next time the dollar tanks, unload em.
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TheQuig

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PostSubject: Re: UK's Brexit   June 24th 2016, 9:15 pm

I invested in the Canadian dollar a couple of years ago. I'm still waiting for it to come back up to what I paid for it,
The UK was smart to get out of the EU as they never saw the benefits of supporting other countries. I think Scotland will stay in the UK when the vote comes around.

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ggbaird



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PostSubject: Re: UK's Brexit   June 24th 2016, 9:34 pm

TheQuig wrote:
I invested in the Canadian dollar a couple of years ago. I'm still waiting for it to come back up to what I paid for it,
The UK was smart to get out of the EU as they never saw the benefits of supporting other countries. I think Scotland will stay in the UK when the vote comes around.

Our dollar went as low as 67 cents US I believe. That would have been the time to buy.
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pup

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PostSubject: Re: UK's Brexit   June 25th 2016, 9:10 am

EU, a bureaucracy infested with liberals all with "better" ideas how you should live and spend your money than you.

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TheQuig

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PostSubject: Re: UK's Brexit   June 25th 2016, 9:39 am

ggbaird wrote:
TheQuig wrote:
I invested in the Canadian dollar a couple of years ago. I'm still waiting for it to come back up to what I paid for it,
The UK was smart to get out of the EU as they never saw the benefits of supporting other countries. I think Scotland will stay in the UK when the vote comes around.

Our dollar went as low as 67 cents US I believe. That would have been the time to buy.


The advice to buy came a few years back when it was 97 cents to the U.S. dollar. I'm stuck, I can't sell at this price, I have to wait until it at least gets close to what I paid for it. Talk to some of your friends, see what they can do to get your currency back up there to help me out lol.
This advice was given to me by someone who has millions invested in other stocks. He can afford a loss here and there, I can't and shouldn't have moved my money at the time.

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ggbaird



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PostSubject: Re: UK's Brexit   June 25th 2016, 2:33 pm

TheQuig wrote:
ggbaird wrote:
Our dollar went as low as 67 cents US I believe. That would have been the time to buy.


The advice to buy came a few years back when it was 97 cents to the U.S. dollar. I'm stuck, I can't sell at this price, I have to wait until it at least gets close to what I paid for it. Talk to some of your friends, see what they can do to get your currency back up there to help me out lol.

It's sitting around 77 cents right now. Maybe the outcome of your elections will have an impact on our dollar in the near future.
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rustbucket



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PostSubject: Re: UK's Brexit   June 25th 2016, 6:03 pm

People are rediscovering what Henry David Thoreau noted 165 years ago ...

"That government is best which governs least”  

People in Britain didn't want to bow to what basically a regime run by unaccountable elites in Brussels. I hope people in the U.S. send the same message come November. The elites are scared- witness the takeover of the Internet by the F.C.C. thanks to a (packed by Obama) D.C. Circuit court ruling.

"Yesterday the D.C. Circuit Court of Appeals upheld President Obama’s so-called “net neutrality” regulations in a 2-1 decision. These are the rules that re-classified the Internet as a “public utility” under a Depression-era law, and leave us on the hook for a massive new tax increase and countless new regulations that are already having a dramatic negative impact on investment."

http://cnsnews.com/commentary/phil-kerpen/obamas-fccs-internet-takeover-would-reduce-internet-public-utility

The Internet worked fine without the government's so called "help". You can bet censorship isn't far off.
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