Hello MarketClub members everywhere. There's no doubt about it, yesterday's break in the world markets was caused by a little country in the North Atlantic named Great Britain and whether or not it's going to stay in the EU.
Having been born and raised in England, I cannot imagine in my wildest dreams why Great Britain would want to give up its sovereignty, its currency and cede control to Brussels. The EU is a bloated, incompetent bureaucracy that has a life of its own and answers to no one. To put this in perspective, the EU makes our government here in the U.S. look like it is super, super efficient.
Great Britain has the fifth largest economy in the world. It is not like Greece which is bankrupt or Spain which has a 45% unemployment problem and is just two steps away from bankruptcy.
Great Britain, which is not a large country, would soon be overrun by middle eastern immigrants which would create havoc with its welfare system. It would also change the very culture of the country.
I am in the camp that Great Britain charts its own future and is not dictated to by some faceless bureaucracy in Brussels.
Having got that off my chest, what is this historic June 23rd decision going to do to the markets?
Let's start off with the German bond that briefly went into negative territory today, meaning you're actually paying the German government to hold your money. Ouch!
Most of the market action yesterday was a reflection of the uncertainty and potential chaos that is in the minds of many investors and traders around the world. Sometimes we have “Black Swan” events in the marketplace that come out of nowhere - but this time, we have an event that this ticking down and will be decided in just nine days time.
I have been indicating for quite some time that the markets did not seem quite right and something seemed to be out of place. I also warned investors to be careful because of the overhead resistance that I saw in all of the major indices. Several secondary indicators have now moved into the negative column indicating potentially further weakness for ahead for stocks.
In today's video update I will be looking at all the major indices, plus gold and how it is going to play out for the year and lastly what's going on with crude oil.
Stay focused and disciplined.
Every success with MarketClub,
Adam Hewison
President, INO.com
Co-Creator, MarketClub
I think, issue of Brxit is much more hyped even then its all possible impacts. from the group of some big players, and to manipulate some specific counters, they are successes to draw a picture like "Fortune of entire world is depended on this issue"
This situation may be created intentionally, with some hidden interest or specific motive, so there is a bright chance that after actual announcement of the said decision, taken place by the Britain, there will be no major or any significant or long lasting effects or impact on the various counters, irrespective of any type of decisions either to remain or Exit from EU
Let me reply to you both,
Petros - Yes, and there is news that he is targeting the too-sexy ads in the subway system. (Per major news syndicate)
Peter B - this is another example of the corruption that is bringing the world to the brink of destruction. We have similar insanities here, although not yours yet. When the left wing finally crashes the middle class (enroute and approaching destination) we will be in the same boat.
Good luck to everybody!
BUY EURUSD GOD BLESS YOU AND ME SENT ME GOOD THING FOREX IS GOOD NO MONEY NO FRIEND SEE ME
So what are the chances of an exit? And what will be the short term reactions of the market if GB exits and what will be the reactions if they remain part of the EU? Will there be any long term effects on the US markets either way, or will they, as usual, settle back to longer term changes being dependent on economic conditions?
Dan
Adam -
I watched the Brexit Movie on YouTube over the weekend. It pretty much laid out what you're talking about ... only in much gorier detail. I can't imagine why the Brits would want to continue to be ruled without any real representation from Brussels.
Great Britain is already overrun by Muslim middle eastern immigrants and it has nothing to do with the EU...
I believe one of those immigrants recently became the mayor of London as well...
Correct, but we are also overrun by poles,,bulgarians, romanians, albanians, and before long turks, all claiming benefits, even if they don't work, and claiming children benefits, even if the children are not in the UK.
Maybe you should set tougher laws for claiming benefits and welfare then and not blame the EU for that.