Will the Sky Fall in on UK from Brexit Vote Results?

The people of the United Kingdom have historically voted to leave the European Union making it the first state in the block to do so.

986 Total views
72 Total shares
Will the Sky Fall in on UK from Brexit Vote Results?

The people of the United Kingdom have historically voted to leave the European Union making it the first state in the block to do so.

I believe the vote to leave was more about getting out from under the dictatorship of the unelected bureaucrats in Brussels who are lording their laws across the continent with little regard for its citizens than a separation from the countries of Europe themselves.

This vote has the potential to rock the European Union at its core with speculation now mounting as to which country or countries will be next. Brexit fever has spread across Europe with Italy, France, Netherlands and Denmark all calling for referendums next.

How markets are reacting

The shockwaves across the markets we are witnessing today are proof of how important a position the UK had within the EU and an indicator of the potential it has in moving forward on its own.

London's stock market had plunged more than 8% this morning although it had regained some ground to stand nearly 5% lower. Banks seem to have taken the hardest hit with Barclays and RBS falling about 30%, although they later pared losses to below 20%.

The pound fell dramatically as the referendum results emerged hitting a low of $1.32 against the dollar something not seen since 1985, although it has partially gained at time of writing.

Against the euro, the pound dropped 7% to about €1.2085. By Friday lunchtime, it has risen again but was still 5.3% down on the day.

This move in sterling is the biggest one-day fall ever seen.

Is Bitcoin a safe haven?

Bitcoin is really showing to be a global safe haven like gold through all this having rose by nearly $100 on the news of the Brexit result, and as fiat currency uncertainty mounts over the coming weeks and months these gains should certainly continue.

The FTSE's initial slump was its biggest one-day fall since the collapse of Lehman Brothers in October 2008.

What the rest of Europe will be watching in the coming months is will the sky really fall in on the UK and how will the long term outcome of all this really effect the British economy.

If the long term prospects are promising I see the EU falling apart at the seams as the despots scare tactics will be seen for what they really are and one by one country after country will leave.

Brexit vote results - Stairway to Heaven or Highway to Hell?

The scare tactics that were used across the United Kingdom from the politicians in the stay camp were reminiscent of what was used against Greece and Ireland and frightened the people into staying enslaved in a forced austerity while also handing over their sovereignty and everything from their beaches to their airports to Germany.

In N.Ireland even though we have a direct view of the devastation caused by remaining part of the EU in the Rep of Ireland, the majority here voted to stay. A baffling result when we can see our fellow countrymen paying for everything including the water they drink and scenes of thugs in balaclavas assisting the Gardaí and bank officials in evicting people from their homes in images reminiscent of the black and tans.

Fear seems to have been a powerful weapon in keeping this all together as long as it has and although everyone has their own take on why people voted the way they did, for me this is a first step in people taking back the power from the unelected who are completely out of touch with the people they claim to represent and creating something different than the dictatorship the European Union has turned into.

×

Hottest Bitcoin News Daily

For updates and exclusive offers, enter your e-mail below.