Brexit??

Been watching coverage on CNN, since just after the election was called (for exit). First, I confess to complete ignorance, so please don't clobber me, but this sounds like a disaster! They've been discussing the ramifications... oh my!
 

It seems it's all over bar the shouting now.

Britain will leave the EU and Scotland may demand independence again because they want to remain.
There may also be renewed calls for a unified Ireland.

It will be some time before all the dust thrown up by this decision of the people will finally settle.
 
I have just wakened and heard the result. I am worried and troubled by this.

Worried because already the pound has fallen sharply and it seems inevitable that we will lose our AAA credit rating. It seems that our economy is in for a very, very rocky time and, of course, that will put intense pressure on our public services.

Troubled because it makes us appear insular in the eyes of the world and I feel that this decision has been made by voters who are more concerned in narrow minded, almost racist reasons.

I do not yet draw a state pension but worry like hell about the affect this decision will have on that in the future. I also worry for my family, all of whom work in public services. And, in general, I worry about the working conditions and pay of most will suffer.

This is a dreadful day for the UK.

As for a further Scottish Independence referendum. I feel that it is too soon for that. Far too soon and do not think that the people would welcome that. Personally, the sooner it happens, the better. Scotland voted 63% to remain. That shows clearly what we think about Europe. I am a Scot, I am European and no vote will change that!
 

ossian said:
I have just wakened and heard the result. I am worried and troubled by this.

Worried because already the pound has fallen sharply and it seems inevitable that we will lose our AAA credit rating. It seems that our economy is in for a very, very rocky time and, of course, that will put intense pressure on our public services.

Troubled because it makes us appear insular in the eyes of the world and I feel that this decision has been made by voters who are more concerned in narrow minded, almost racist reasons.

I do not yet draw a state pension but worry like hell about the affect this decision will have on that in the future. I also worry for my family, all of whom work in public services. And, in general, I worry about the working conditions and pay of most will suffer.

This is a dreadful day for the UK.

As for a further Scottish Independence referendum. I feel that it is too soon for that. Far too soon and do not think that the people would welcome that. Personally, the sooner it happens, the better. Scotland voted 63% to remain. That shows clearly what we think about Europe. I am a Scot, I am European and no vote will change that!
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I couldn't have put it better myself ossian.........I do receive the state pension and wondering what this will now mean in terms of the pound tumbling to a 35 year low, does this mean the cost of living will go up??.........a sad sad day for the U.K. in every way.
 
YES!!!!! Independence day has arrived. We have voted off the shackles of Brussels and hopefully we can start to put the 'Great' back into Great Britain. Yes, it's going to be hard, yes there will be uncertainty, but hopefully there will be a better future at the end. I note that already there are calls from other European countries for their own exit referendum. Maybe we are seeing the demise of the monster that is the EU.

Doubtless there will be a second Scottish independence referendum, but I think people are tired of uncertainty and debate and will need a while to settle down before that happens.
 
YES, my worries were unfounded, what a result !! LEAVE. This has given the political elite a "kick in the teeth". Now onwards and upwards !
 
Forget the doom and gloom. It's over, a new beginning.

Don't look back. Dark days ahead but sunnier ones to follow.

I've got my head up looking out for them.
 
It looks like the "leave" camp is going to win this win. However, if the less than 2% difference stands up, I would expect to see this issue revisited somewhere down the road, maybe even 6 months from now. The U.S. stock markets will surely take a hit today because Wall Street was predicting that the voters would vote to stay with the EU. I am also reading that Britain's PM will be resigning. Geo-political unrest is never good news for the markets. It will be a slow recovery this time and may even effect the election here in the U.S. because Wall Street does not like being disappointed and when they are, they look for someone to blame, no matter if they had a hand in it or not. Wall Street predicted that the voters would vote to stay and now they are embarrassed that they were wrong, so someone will have to pay. Wall Streeters do not accept personal responsibility.

Can you imagine all of the financial planners and advisors that will get phone calls today. Most of them were in a buying frenzy the past few days, expecting the EU to stay put. So many of their clients went along with their financial planners and advisors recommendations to stay in the market and even buy and now this.
 
Well personally, right now, we are smiling over the Brexit. It did amazing things for our gold investments. Mind you, I was slightly disappointed because I actually had a dream that the price of gold had gone up to $1500 so waking up to a $69 price jump was not as exciting as my dream:playful: but it did do wonderful things for our main holding (which had just increased its distribution 100%) so I won't 'look a gift horse in the mouth' that's for sure.
 
Yeah, I love panic selling. One philosophy I have always agreed with is never to buy stocks when the price is on the way down. However, when it's due to panic selling, I over-ride that thinking and look at this as a buying opportunity. Just like in 2009 and 2010, I did very well then and I will do very well this time.

By the way, my Newmont Mining (NEM) is doing very well this a.m. Could sell this stock today.

I just hope that the Europeans thought this through very carefully.
 
oldman said:
Yeah, I love panic selling. One philosophy I have always agreed with is never to buy stocks when the price is on the way down. However, when it's due to panic selling, I over-ride that thinking and look at this as a buying opportunity. Just like in 2009 and 2010, I did very well then and I will do very well this time.

By the way, my Newmont Mining (NEM) is doing very well this a.m. Could sell this stock today.

I just hope that the Europeans thought this through very carefully.
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Market is up 230 points from yesterday... waiting for today
 
Initial reactions aside, the people have spoken, the Uk has opened it's doors to a new tomorrow. A tomorrow where the people , via their votes, will govern the United Kingdom free of outside interference. Last week the UK was a major player in Europe, today the UK is a major player in Europe, tomorrow the UK will be a major player in Europe. The fact Prime Minister David Cameron chose to step down , in the stead of leading a "free" UK into the future, a future determined by the will of the people, proves him a most incapable leader, thus the UK will be stronger and more confident without him. A winner never quits, but then; such is politics.
 
Warrigal, while this is definitely not the business of us Americans, it could very much affect the "business" of Americans. I heard an analyst yesterday say that the global economy
could be knocked for a loop, which affects everybody.
 
Well...thanks a lot to you LEAVE voters. :mad: The value of the pound is at a 30 year low and could go as low as $1.20. A stock fund I set up for my granddaughters in the US have taken a nosedive. Recession is imminent. Wonder if this means all the Brits who retired to Spain and France will get kicked out? They won't get free healthcare there any more, they will have to buy insurance. If they are allowed to stay.

On a good note...Cameron is quitting. Ireland will likely have a vote to reunite with NI. There will be another referendum on independence for Scotland - I'm betting next year. The vote will most likely be YES this time.

Capt, have you started looking for a house to move to in England yet?

My husband and two of my friends are applying for their Irish passports so they'll still be EU citizens.

Could be Black Friday on Wall Street. http://money.cnn.com/2016/06/24/investing/premarket-stocks-trading/
 
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As expected, the global financial markets are, and will be, in a period of turmoil, over this referendum. However, this appears to just be the first step for the UK to establish its independence...parliament must still act, and any final moves could take months, perhaps a couple of years. I wish the people of the UK well, no matter what the final decision is...and in the interim, investors should be Closely monitoring their holdings.
 
And this is why I have someone managing my retirement funds. He bought gold shares in an ETF the other day as a hedge against this, and has limited our exposure to stocks. Has been waiting for an opportunity to buy stocks at lower prices and has us more in bond funds with limited international exposure. I'm sure we'll take a hit today, but it hopefully won't be as bad as it could have been.
 
Ameriscot, I wondered where you had got to.... It's such a shame that Scotland want's to throw away the chance to determine its own destiny and throw its lot in with Brussels. At times it seems more like spite than anything else.

A house in England? Well I always keep an eye on the housing market, but as a former colleague put it, "I'm more loyal to the half-crown than the crown". In other words, irrespective of how things go, I will do whatever is best for myself and my family.

I'm glad to see Cameron go too. He was a weak leader who failed to secure a good deal for the UK. If he had, the result might have been different. Hope Osborne goes too.

Still, the markets seem to be recovering somewhat after the knee-jerk reactions. Hopefully things will settle down soon.
 
Sunny said:
Warrigal, while this is definitely not the business of us Americans, it could very much affect the "business" of Americans. I heard an analyst yesterday say that the global economy
could be knocked for a loop, which affects everybody.
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Well it's all swings and roundabouts. The last catastrophic global recession was started in the US.

Remember that the Chinese symbol for crisis can also mean opportunity. Australians have been lining up today to buy UK currency cheaply. They plan to use them when they visit Britain.
 
Capt Lightning said:
Ameriscot, I wondered where you had got to.... It's such a shame that Scotland want's to throw away the chance to determine its own destiny and throw its lot in with Brussels. At times it seems more like spite than anything else.

A house in England? Well I always keep an eye on the housing market, but as a former colleague put it, "I'm more loyal to the half-crown than the crown". In other words, irrespective of how things go, I will do whatever is best for myself and my family.

I'm glad to see Cameron go too. He was a weak leader who failed to secure a good deal for the UK. If he had, the result might have been different. Hope Osborne goes too.

Still, the markets seem to be recovering somewhat after the knee-jerk reactions. Hopefully things will settle down soon.
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I was taking a break. Had sister visiting Scotland and now we are visiting Michigan.

You did say if Scotland leaves the UK you'd move back to England.

62% of Scotland voted to Remain. Most of us would rather have Brussels than London.
 

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