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Old 24-06-2016, 11:28   #61
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re: Grrrr..Brexit.

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Very biased left wing organisation that should be dissolved and nearly was last summer

The vote was swung on the blue collar workers in the north of England finally deciding they have seen no real benefit from being in the EU so chose the unknown, risker and possibly more expensive option. Do not under estimate the concern at the lack of action over immigration, ridiculous red tape and gross waste of money in the EU.

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Ohhh yeah, let Rupert and spawn do it eh?
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Old 24-06-2016, 11:41   #62
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re: Grrrr..Brexit.

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Originally Posted by Pete7 View Post
Very biased left wing organisation that should be dissolved and nearly was last summer

The vote was swung on the blue collar workers in the north of England finally deciding they have seen no real benefit from being in the EU so chose the unknown, risker and possibly more expensive option. Do not under estimate the concern at the lack of action over immigration, ridiculous red tape and gross waste of money in the EU.

Pete
This^. It's the moneyed elite that have benefited mostly from E.U. policies. The amount of waste, ie the moving of their headquarters every so often is but one example. Local builders may earn a decent wage again.
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Old 24-06-2016, 11:43   #63
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re: Grrrr..Brexit.

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Ohhh yeah, let Rupert and spawn do it eh?
Last time I checked Rupert was not propped up on taxpayers money,unlike of course the BBC.
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Old 24-06-2016, 11:47   #64
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re: Grrrr..Brexit.

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Being totally suspicious of politics, what better way to leave a post as an 'honourable' Prime Minister having given Britain the chance the 'choice' and then resigning immediately as 'the right thing to do and let another lead Britain in the exit'. er...? Pass the salt Pete....
You mean it was planned I thought only the colonials had conspiracies
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Old 24-06-2016, 11:54   #65
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re: Grrrr..Brexit.

The markets will have a run on bendy bananas.
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Old 24-06-2016, 12:08   #66
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re: Grrrr..Brexit.

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Perhaps you missed my history reference to the yen and peso?
Short term, bueno, long term, pues malo?
If your investments are in Sterling, a hint, the Mexican elites always seemed to get their 'stuff' into dollars, et al., before TSHTF. What have the Brit upperclass been up to recently?. . .
The UK is an economic superpower, not comparable in any respect to a developing country like Mexico.

The reference to Japan is not really relevant, as those problems have nothing to do with the currency.

Exchange rates, which determine terms of trade, are a complicated issue, and there are always winners and losers when rates change. Of course there are downsides. But for the specific case of the UK, a bit of downward adjustment of the historically always overvalued pound sterling would most likely be a net good thing.

It's funny that the papers today referred to the GBP has having "tanked" or "crashed". This is highly exaggerated. As of the end of trading today, Sterling is down to about $1.38, vs $1.49 yesterday. Off 7.5%. But Sterling was on a roll in the days leading up to the referendum; $1.38 is not nearly that far off this year's average, and in February it hit $1.39. This is not what I'd call a "crash" -- I was in Russia in 1998 when the Ruble lost 66% of its value -- now THAT's an actual crash.
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Old 24-06-2016, 14:49   #67
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re: Grrrr..Brexit.

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The EU as a free-trade zone is a great concept.
The EU as a centralized political entity; not so much.
This. The trade-zone was one thing...this attempt to create a EU "country" was a whole other animal.
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Old 24-06-2016, 15:08   #68
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re: Grrrr..Brexit.

If you read the documents and treaties from the beginning in the 1950s, what is now the EU was always planned to go far beyond a common market. The British ignored that for 43 years and / or believed they could prevent this or at least take the benefits of the cm while negotiating out of the rest. That failed, consequent they leave. Good for the others 27. And yes, there will be exactly zero room for negotiating - "in is in, and out is out". After the Exit is completed there may be negotiations, but the deal will in no case be better than what they had - the EU needs to make sure everyone gets the message.
And no, we will not require Mr. Trump to help the process. Absolutely not.

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Old 24-06-2016, 15:09   #69
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re: Grrrr..Brexit.

If we are lucky more countries will leave the EU.
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Old 24-06-2016, 15:27   #70
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re: Grrrr..Brexit.

Those countries receiving more money than they pay will think twice before leaving. The other few ... most of them know what the benefits are.

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Old 24-06-2016, 16:20   #71
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re: Grrrr..Brexit.

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Yet the reality is that enough jobs and perks were distributed to keep dissenters at bay....
Er, not quite me thinks...
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Old 24-06-2016, 16:41   #72
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re: Grrrr..Brexit.

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The UK is an economic superpower, not comparable in any respect to a developing country like Mexico.
IMO, not as different any more. Apart from the non-productive (in a classical sense) City paper hanging, I and most others buy little of British origin. Compared to China, maybe even India (or whole hog BRICS), the UK is hardly a superpower today.
Core industries now sold off to furriners.
Even Spain, today, is making noises for a joint Gibraltar (although I presume they have for a while).
Feisty Nicola is going to leave some deep nail marks on John Bull's backside too .

The reference to Japan is not really relevant, as those problems have nothing to do with the currency.
Japanese stagnation connection is a bit more tenuous, but it has affected their yen. The UK might surf into the second bar and get stuck too.

Exchange rates, which determine terms of trade, are a complicated issue, and there are always winners and losers when rates change. Of course there are downsides. But for the specific case of the UK, a bit of downward adjustment of the historically always overvalued pound sterling would most likely be a net good thing.
Agree.

It's funny that the papers today referred to the GBP has having "tanked" or "crashed". This is highly exaggerated. As of the end of trading today, Sterling is down to about $1.38, vs $1.49 yesterday. Off 7.5%. But Sterling was on a roll in the days leading up to the referendum; $1.38 is not nearly that far off this year's average, and in February it hit $1.39. This is not what I'd call a "crash" -- I was in Russia in 1998 when the Ruble lost 66% of its value -- now THAT's an actual crash.
I've seen the MX peso devalued 40-80% time after time.

Whatever eventuates long-term, it is going to be a wild ride.

(the UKers and Commonwealthers are probably going to bust my chops here again , Hey, I've usually been an Anglophile, one of the lands of my ancestors, along with Scotland, Ireland and Germany (mom's side all spoke German amongst themselves at summer gatherings, the older ones))
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Old 24-06-2016, 16:46   #73
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re: Grrrr..Brexit.

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Pretty much what 750 million Europeans think too, only 65m got the chance to say so yesterday and 17m decided enough was enough.

For sale: 42 year old European Membership Card bit dog eared but in one piece and comes with extra rights to keep own currency. Apply HM Queen.

Wanted: Copy of Australian Immigration Points Policy and the rights to copy and implement.

By the way I think most of the UK are still in shock as everyone thought it just wouldn't happen, really does beg the question of who is next? Dutch, Danes?
"Who's next"?

Scotland for independence ? Northern Ireland out ?
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Old 24-06-2016, 16:48   #74
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re: Grrrr..Brexit.

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If we are lucky more countries will leave the EU.
Would you like to explain what you see as the benefits to a total cessation of the EU? Which is what your hoping for isn't it
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Old 24-06-2016, 17:46   #75
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re: Grrrr..Brexit.

I could never figure out what the UK had in common with the likes of Greece, Portugal and others. I do understand the trading block though.
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