Brexit

[limitles]

.

[gauchojake]

ooooooooooook

Embedded Tweet

https://twitter.com/twt/status/704126359883358208

That seems like the crazier end of the spectrum

[4Dragons]

ooooooooooook

Embedded Tweet

https://twitter.com/twt/status/704126359883358208

That seems like the crazier end of the spectrum

Yeah but it's national tv. They vet crazy on shows like that one. They pre-interview people on shows like that one to weed out the crazy.

So either he's just really telling the truth, or they wanted that opinion out there.

[Daly]

It's Russia Today TV...... They love crazy.

[GambleBotsSatire]

Embedded Tweet

https://twitter.com/twt/status/746148410483433472

[Daly]

There are four major areas of concern;

London is the financial center of the EU because the UK is both in the EU and is relatively friendly to financial services. Absent the UK having a regulatory treaty with the EU (which they can't without being part of the EU) financial services will be forced to move to the mainland. Even prior the vote there was work underway on this, the first movements will begin to occur in a couple of weeks. Several other sectors are similarly at risk.
When the UK leaves it has no trade treaties with any other country in the world. This means all British goods will incur new or higher tariffs in all trading partner countries, British goods become more expensive when compared to comparable goods produced elsewhere. There is not a magic button here, it typically takes decades to either create new treaties or join an existing one.
If the UK decides it wants access to the single market it also needs to adopt single market rules, effectively accepting all EU regulation but without having any voice in that regulation. That's assuming France & Germany don't just block UK access to the single market out of spite.
The UK no longer has visa free access to EU states and the same is true of the EU to the UK. There are enormous numbers of British ex-pats who live on the continent and enormous numbers of non-UK EU citizens who live in the UK. Even if the UK & EU manage to push through a very hasty set of reforms allowing those who have lived there for n years to remain we are still talking about pretty significant labor displacement & disruption.

[bukowski72]

If you have the cash -700 (to take the hit) or the stones and a few week outlook I would be long.

PS I don't know how the circuit breakers work today, although I think it would only benefit the longs since they would kick in to stop the lows.

[ftpjesus]

And now PM David Cameron has announced his resignation. Not surprising. He lost

[ftpjesus]

There are four major areas of concern;

London is the financial center of the EU because the UK is both in the EU and is relatively friendly to financial services. Absent the UK having a regulatory treaty with the EU (which they can't without being part of the EU) financial services will be forced to move to the mainland. Even prior the vote there was work underway on this, the first movements will begin to occur in a couple of weeks. Several other sectors are similarly at risk.
When the UK leaves it has no trade treaties with any other country in the world. This means all British goods will incur new or higher tariffs in all trading partner countries, British goods become more expensive when compared to comparable goods produced elsewhere. There is not a magic button here, it typically takes decades to either create new treaties or join an existing one.
If the UK decides it wants access to the single market it also needs to adopt single market rules, effectively accepting all EU regulation but without having any voice in that regulation. That's assuming France & Germany don't just block UK access to the single market out of spite.
The UK no longer has visa free access to EU states and the same is true of the EU to the UK. There are enormous numbers of British ex-pats who live on the continent and enormous numbers of non-UK EU citizens who live in the UK. Even if the UK & EU manage to push through a very hasty set of reforms allowing those who have lived there for n years to remain we are still talking about pretty significant labor displacement & disruption.

Nothing changes immediately all depends on how the Article 50 discussions go between Brussels and London. First off with David Cameron resigning they have to wait till a new PM which they are saying won't be till October when the Tories vote for leadership.

[sonatine]

There are four major areas of concern;

London is the financial center of the EU because the UK is both in the EU and is relatively friendly to financial services. Absent the UK having a regulatory treaty with the EU (which they can't without being part of the EU) financial services will be forced to move to the mainland. Even prior the vote there was work underway on this, the first movements will begin to occur in a couple of weeks. Several other sectors are similarly at risk.
When the UK leaves it has no trade treaties with any other country in the world. This means all British goods will incur new or higher tariffs in all trading partner countries, British goods become more expensive when compared to comparable goods produced elsewhere. There is not a magic button here, it typically takes decades to either create new treaties or join an existing one.
If the UK decides it wants access to the single market it also needs to adopt single market rules, effectively accepting all EU regulation but without having any voice in that regulation. That's assuming France & Germany don't just block UK access to the single market out of spite.
The UK no longer has visa free access to EU states and the same is true of the EU to the UK. There are enormous numbers of British ex-pats who live on the continent and enormous numbers of non-UK EU citizens who live in the UK. Even if the UK & EU manage to push through a very hasty set of reforms allowing those who have lived there for n years to remain we are still talking about pretty significant labor displacement & disruption.

Nothing changes immediately all depends on how the Article 50 discussions go between Brussels and London. First off with David Cameron resigning they have to wait till a new PM which they are saying won't be till October when the Tories vote for leadership.

S&P is downgrading UK's credit, so things are in fact changing pretty much immediately and not for the better.

[4Dragons]

Nothing changes immediately all depends on how the Article 50 discussions go between Brussels and London. First off with David Cameron resigning they have to wait till a new PM which they are saying won't be till October when the Tories vote for leadership.

S&P is downgrading UK's credit, so things are in fact changing pretty much immediately and not for the better.

Pretty sweet way to pay yourself off the backs of your enemies by charging them higher interest rates, because the EU bailed out the banks.

#richpeopleproblems

[sah_24]

You mean the same S+P that gave triple A ratings to MBS's that caused the 08 financial crises, ya they def did it for the right reason lol . . .

[4Dragons]

Totally missed this, apparently also from the crazy end of the spectrum.

British voters chose to “leave” the European Union on Thursday, defying the polls — and President Barack Obama, who had urged Britain to “remain” in the EU. Former Secretary of State Hillary Clinton had also urged Britain to stay in the EU. Only Donald Trump had backed the campaign to leave.

Republican strategists had panned Trump’s decision to travel to the UK in the midst of campaign turmoil, and in the wake of his blistering attack on Hillary Clinton earlier this week.
Now, however, it looks like a risk that paid off handsomely, in the currency of foreign policy credibility.
Obama’s advice may have pushed some voters to “leave.” In April, he warned British voters they would be at the “back of the queue” in trade with the U.S. if they left the EU. Some, like Andrew Roberts, took offense, writing in the Wall Street Journal:

Surely—surely—this is an issue on which the British people, and they alone, have the right to decide, without the intervention of President Obama, who adopted his haughtiest professorial manner when lecturing us to stay in the EU, before making the naked threat that we would be sent “to the back of the queue” (i.e., the back of the line) in any future trade deals if we had the temerity to vote to leave.

Was my country at the back of the line when Winston Churchill promised in 1941 that in the event of a Japanese attack on the U.S., a British declaration of war on Japan would be made within the hour?
…
Were we at the back of the line on 9/11, or did we step forward immediately and instinctively as the very first of your allies to contribute troops to join you in the expulsion of the Taliban, al Qaeda’s hosts, from power in Afghanistan?
Or in Iraq two years later, was it the French or the Germans or the Belgians who stood and fought and bled beside you? Whatever views you might have over the rights or wrongs of that war, no one can deny that Britain was in its accustomed place: at the front of the line, in the firing line. So it is not right for President Obama now to threaten to send us to the back of the line.

Hillary Clinton also backed a “remain” vote in April, with a senior policy adviser issuing a statement on her behalf:

Hillary Clinton believes that transatlantic cooperation is essential, and that cooperation is strongest when Europe is united. She has always valued a strong United Kingdom in a strong EU. And she values a strong British voice in the EU.

Trump, who happens to be in Scotland to open a golf resort, promised in May that leaving the EU would not put Britain at the “back of the queue,” and said: “I think if I were from Britain I would probably want to go back to a different system.” He reiterated that support last week, telling the Sunday Times: “I would personally be more inclined to leave, for a lot of reasons like having a lot less bureaucracy. … But I am not a British citizen. This is just my opinion.”

http://www.breitbart.com/big-governm...hillary-obama/

[handicapme]

In a blackcar to work right now... was woken by my MD 30min ago ringing my fucking doorbell, with a car waiting outside. Had 7 missed calls and 10 text.

Emails are unreadable... I seriously think the brit traders are going to kill themselves and my NY guys who stayed over night have been driven so long they dont know wtf to do anymore.

NY refuses to take any electronic traders until an hour after the "true" NY open and our EMEA desk has been raped and pillaged by the algos.

[MumblesBadly]

Except for London, this pic shows a parallel with historical sentiments re the Scottish versus English.



Because for centuries starting with the Hundred Year Wars period, the Scottish allied with powers on the continent against the English (usually with fellow Catholic France, but also with Catholic Spain). I'm wondering whether that history, possibly affecting Scottish sentiment, is a factor for the them to favor staying. And will they move to separate from the rest of the UK with the latter Brexiting?

The voting across the pond to exit unions def isn't over.

Alex Salmond: second Scottish independence referendum is certain
Former first minister says Brexit means Scotland, which voted to remain, must hold vote before UK actually leaves EU
http://www.theguardian.com/politics/..._b-aplnews_d-1

[Pooh]

I sold $15 and $16 calls on my VXX expiring tomorrow. If they leave that will be a very expensive mistake. I still don't see it happening though.

Goodbye Pooh. Hopefully you don't live or work in a highrise.

They're covered calls asswipe. Meaning I already own the stock. It's still a winner, just not as big as it could've been.

[Mintjewlips]

"Baron Rothschild, an 18th century British nobleman and member of the Rothschild banking family, is credited with saying that "The time to buy is when there's blood in the streets." He should know. Rothschild made a fortune buying in the panic that followed the Battle of Waterloo against Napoleon."

One man's loss is another man's gain.

The British economy will bounce back, only this time they will dictate their future, not some mega banker douchebags.

When is a good time to buy pounds?

[4Dragons]

lol, how is this not the Papal States all over again except led by liberal cultists instead of christian ones?


http://www.express.co.uk/news/world/...ferendum-delay

REVEALED: The EU's £1TRILLION plans kept secret until AFTER the referendum

Britain will only just be discovering its future in the European Union tomorrow when Brussels leaders set out their new military strategy, believed to include plans for a controversial EU army.



And they will announce how they intend to spend their £1trillion budget for the next seven years next week after 'delaying' their proposals until after the referendum.


They will also present a raft of measures that cover everything from their plans to introduce EU border checks and the accession to the European Convention of Human Rights as soon as the UK has gone to the polls.
According to insiders, politicians from the 28 member states have been waiting for months as bureaucrats dragged their heels on settling their draft budget and tabling a number of key proposals.


The budget proposals, known as the multi-annual financial framework, were shelved at the last minute last month.

[Mintjewlips]

lol, how is this not the Papal States all over again except led by liberal cultists instead of christian ones?


http://www.express.co.uk/news/world/...ferendum-delay

REVEALED: The EU's £1TRILLION plans kept secret until AFTER the referendum

Britain will only just be discovering its future in the European Union tomorrow when Brussels leaders set out their new military strategy, believed to include plans for a controversial EU army.



And they will announce how they intend to spend their £1trillion budget for the next seven years next week after 'delaying' their proposals until after the referendum.


They will also present a raft of measures that cover everything from their plans to introduce EU border checks and the accession to the European Convention of Human Rights as soon as the UK has gone to the polls.
According to insiders, politicians from the 28 member states have been waiting for months as bureaucrats dragged their heels on settling their draft budget and tabling a number of key proposals.


The budget proposals, known as the multi-annual financial framework, were shelved at the last minute last month.

Just what hitler always wanted.

[MrTickle]

I don't see how an EU Army is a bad idea considering the wartorn history of this continent