1. Same story, different day...........year ie more of the same fiat floods the world
    Dismiss Notice
  2. There are no markets
    Dismiss Notice
  3. Week of 6/24/2017 Closing prices & Chg Over Last Wk---- Gold $1256.40 Silver $16.64 Oil $43.01 USD $96.94
  4. "Spreading the ideas of freedom loving people on matters regarding high finance, politics, constructionist Constitution, and mental masturbation of all types"
    Dismiss Notice

Brexit Shock

Discussion in 'Gold Silver (All things Metal)' started by Scorpio, Jun 24, 2016.



  1. Scorpio

    Scorpio Скорпион Founding Member Board Elder Site Mgr Site Supporter ++

    Joined:
    Mar 25, 2010
    Messages:
    23,753
    Likes Received:
    25,294
    Trophy Points:
    113
    Brexit Shock

    Friday June 24, 2016 07:53

    (Kitco News) - First of all, I did not expect the leave vote to win. That said, I wasn’t wrong on the effect of a “leave” win. Gold soared over $100 on the news. In my 43 years in the business, I have never witnessed a market like last night. As a colleague stated, the British pound posted its highest and lowest level in six months, on the same day. The yen moved in a 7% range. Global equity markets dropped as much as 10%. Gold spreads on the wholesale level stretched to $10. Our site experienced the largest traffic in its history. Taken independently, many of these events have happened, but never all together within an eight- hour trading window. Now what? I honestly do not know. I was asked what would happen if the Brits decided to leave. I suggested that this was NOT priced in and a move to $1,300 was a given, with a possible bump as high as $1,325. From there, I suggested the market would consolidate and begin to try and figure out what the ramifications would be. I also suggested that the dollar and gold would move together as safe- haven demand played out. This is where we are now. Technicals mean little here. some will see this as an opportunity to take profits. Some will see this as the first steps in the disintegration of the EU and become committed buyers. Let the market settle.

    By Peter Hug, Kitco Metals Global Trading Director; phug@kitco.com





    Disclaimer: The views expressed in this article are those of the author and may not reflect those of Kitco Metals Inc. The author has made every effort to ensure accuracy of information provided; however, neither Kitco Metals Inc. nor the author can guarantee such accuracy. This article is strictly for informational purposes only. It is not a solicitation to make any exchange in precious metal products, commodities, securities or other financial instruments. Kitco Metals Inc. and the author of this article do not accept culpability for losses and/ or damages arising from the use of this publication.

    http://www.kitco.com/commentaries/2016-06-24/Brexit-Shock.html
     
  2. the_shootist

    the_shootist The war is here on our doorstep! Midas Member Site Supporter ++

    Joined:
    May 31, 2015
    Messages:
    15,538
    Likes Received:
    15,373
    Trophy Points:
    113
    Occupation:
    Oxygen Breather
    Location:
    Somewhere out there!
    [​IMG]
     
    gringott, Irons and REO 54 like this.
  3. Hystckndle

    Hystckndle Daguerreotype Fanatic Site Mgr Site Supporter ++

    Joined:
    Mar 28, 2010
    Messages:
    5,495
    Likes Received:
    4,867
    Trophy Points:
    113
    Occupation:
    Slave, but a little less every day
    Location:
    Central Florida
    FX online trading closed over there.
    Lines of folks trying to trade into...anything...
    Yup...lotta nervous folks
     
  4. <===Foolsgold

    <===Foolsgold Gold Chaser Site Supporter ++ Platinum Bling

    Joined:
    Mar 31, 2010
    Messages:
    3,889
    Likes Received:
    3,461
    Trophy Points:
    113
    Location:
    Pennsyltucky
    So as usually happens traders begin to throw the baby out with the bath water and liquidate anything to covers their margin calls. This begs the question when should I bail from my AU stocks so I protect my gains?
     
  5. southfork

    southfork Mother Lode Found Mother Lode

    Joined:
    Mar 31, 2010
    Messages:
    13,742
    Likes Received:
    11,458
    Trophy Points:
    113

    I suspect the ppt will be in full force today, I don't doubt they and physicals will retrace most gains before a new upward trend.
     
    Uglytruth likes this.
  6. the_shootist

    the_shootist The war is here on our doorstep! Midas Member Site Supporter ++

    Joined:
    May 31, 2015
    Messages:
    15,538
    Likes Received:
    15,373
    Trophy Points:
    113
    Occupation:
    Oxygen Breather
    Location:
    Somewhere out there!
    PMs falling....why am I not surprised. The manipulation goes into overdrive
     
    Uglytruth likes this.
  7. Irons

    Irons Deep Sixed Site Supporter Mother Lode

    Joined:
    Mar 30, 2010
    Messages:
    23,126
    Likes Received:
    30,275
    Trophy Points:
    113
    I bought a celebratory Sovereign this morning off Apmex ebay. Go Britain!
    I'm holding the rest of my powder for when the hoopla dies down.

    .
     
    Son of Gloin likes this.
  8. Goldhedge

    Goldhedge Moderator Site Mgr Site Supporter

    Joined:
    Mar 28, 2010
    Messages:
    28,441
    Likes Received:
    32,306
    Trophy Points:
    113
    Occupation:
    Retired
    Location:
    Planet Earth
    There's a gap to fill...
     
    gnome likes this.
  9. the_shootist

    the_shootist The war is here on our doorstep! Midas Member Site Supporter ++

    Joined:
    May 31, 2015
    Messages:
    15,538
    Likes Received:
    15,373
    Trophy Points:
    113
    Occupation:
    Oxygen Breather
    Location:
    Somewhere out there!
    I've been on the sidelines for a couple of months waiting for the last best downturn. I think it's still in our future. Too much volatility these days to invest any more dry powder. TPTB aren't done yet
     
  10. Goldhedge

    Goldhedge Moderator Site Mgr Site Supporter

    Joined:
    Mar 28, 2010
    Messages:
    28,441
    Likes Received:
    32,306
    Trophy Points:
    113
    Occupation:
    Retired
    Location:
    Planet Earth
    Will the last person out please turn off the lights?


    I'm listening now...

    Sovereign Man

    Tim Price on the Brexit investment opportunities

    Podcast Episode #69

     
  11. the_shootist

    the_shootist The war is here on our doorstep! Midas Member Site Supporter ++

    Joined:
    May 31, 2015
    Messages:
    15,538
    Likes Received:
    15,373
    Trophy Points:
    113
    Occupation:
    Oxygen Breather
    Location:
    Somewhere out there!
     
  12. Irons

    Irons Deep Sixed Site Supporter Mother Lode

    Joined:
    Mar 30, 2010
    Messages:
    23,126
    Likes Received:
    30,275
    Trophy Points:
    113
    The Peasants Are Revolting – Disconnected Political Institutions Meet Their Monster Voters…
    Posted on June 24, 2016 by sundance
    To say the last 24 hours have been historic could most certainly be an understatement. However, we can be certain a wounded global media will put every possible liberal, progressive, multicultural and socialist voice onto television and into print to push back against the visible rise of a growing nationalist sentiment.

    [​IMG]

    What has happened with the U.K. referendum is going to send reverberations around the globe; but this outcome should not come as a complete surprise to most CTH readers. What happened in Great Britain is the visible rise of their national Monster Vote.

    People from across political parties, conservative (Tory) and democrat (Labour), joined together to unite against the institutional political systems (EU) who construct the rules of their lives without the consent of the governed.

    When you recognize the bipartisan nature of the Brexit coalition, you remove the political shroud and begin to get down to brass tacks.

    [​IMG]This same structural defect, born of self-centered political Oligarchs, exists in the U.S. political system and we call it the UniParty.

    Progressive leaders from both Democrat and Republican parties working in concert to deliver the legislative priorities of the group who funds them, Wall Street.

    The representative image of the sentiment behind the U.K. LEAVE campaign exists in the United States in the presidential candidate Donald Trump. Trump supporters are essentially anti-globalists, much like the U.K. nationalists were/are anti-European Union.

    Almost identical issues confront both electorates: Trade, Immigration, and the demand for a representative political voice that looks out for their best interest. The EU is essentially a bureaucratic open-border political system, where they consider themselves the enlightened ones – and the citizenry of the various EU nations represent pawns to be governed by the elitists’ magnanimity.

    You can just as easily transpose the mind-set within Brussels as an overlay of the same disconnected political outlook seen in Washington DC. Two bureaucracies governingdespite the will of the electorate, not on their behalf.

    And make no mistake in the analogy, the overarching globalist views of the political elites within the EU and within Washington DC are essentially the same.

    [​IMG]The uprising against this political outlook cuts across both parties in the U.S. just like it did within the U.K.

    Bernie Sanders and Donald Trump supporters have a commonality in the identification of the problem, the divergence is within the solution. When this aspect is understood, we begin to see the possibility of, and attraction to, cross-party voters who support Donald Trump.

    It’s the system, the institutional political system, that is fundamentally flawed.

    Almost no-one within the system has the capability to deconstruct the problems because they are systemic and structural. This structural issue is easily represented by the opposition to Donald Trump found within both the Democrat and Republican parties. This structural issue is what also binds the largest potential voting block, the Monster Vote.

    Against the overwhelming scope of the unified affiliation, the progressive media are forced to work overtime in their attempts to prop-up the corporate interests attached to the political body. This is why the media predictions are also disconnected from the outcomes.

    [​IMG]In an effort to retain relevance, the mainstream corporate media is forced to “gaslight” their audience with increasingly transparent falsehoods, manipulation, willful blindness and intentional deception. However, there are ongoing signs surfacing which show the scope of the American common sense electorate.

    There simply are more of us than them and there’s only so much the media can continue to do to try and hide that reality. In addition we are tuned in to the schemes and techniques used to manufacture the Potemkin village they seek to build around us.

    Often people ask what they can do to help further the awakening electorate. One of the most important activities is to learn to spot the gaslighting efforts, spot the deception, and then teach your friends and family if they fall victim.

    If we are going to defeat the Globalists we must give our team the tools to see through media propaganda. Simultaneously, we must make a conscious effort to keep a positive outlook and boost the morale of those around us.

    ….In short, we must train minds and support hearts.

    https://theconservativetreehouse.co...tical-institutions-meet-their-monster-voters/
     
  13. gringott

    gringott Killed then Resurrected Midas Member Site Supporter

    Joined:
    Apr 2, 2010
    Messages:
    13,287
    Likes Received:
    15,480
    Trophy Points:
    113
    Gender:
    Male
    Occupation:
    N/A
    Location:
    You can't get there from here.
    Flight2gold and Irons like this.
  14. andial

    andial Sir Midas Member Site Supporter ++

    Joined:
    Apr 1, 2010
    Messages:
    9,959
    Likes Received:
    9,908
    Trophy Points:
    113
    Best thing that could happen is a big recession now to feck up the funding for migrant scum from Africa.
     
    Densus and gringott like this.
  15. CrimsonGuardJay

    CrimsonGuardJay Silver Member Silver Miner

    Joined:
    May 16, 2014
    Messages:
    1,712
    Likes Received:
    1,169
    Trophy Points:
    113
    I know some British people are very upset over this. There's a British girl I was involved with that told me the whole ordeal with racist and xenophobic, etc etc., and this is after I told her how proud I was that her people won their independence.

    I told her to grow the fuck up.

    This is a massive victory, because it happened. And that means it can happen again. It's time for this new world order to be challenged and defeated.
     
    Flight2gold, nickndfl, andial and 5 others like this.
  16. andial

    andial Sir Midas Member Site Supporter ++

    Joined:
    Apr 1, 2010
    Messages:
    9,959
    Likes Received:
    9,908
    Trophy Points:
    113
    Yes they have those who voted yes pigeonholed as high school educated racist white guys. Is why you should tell people to fuck off.
     
  17. nickndfl

    nickndfl Midas Member Midas Member Site Supporter ++

    Joined:
    Jan 7, 2011
    Messages:
    11,241
    Likes Received:
    8,844
    Trophy Points:
    113
    Location:
    Florida
    I stayed up watching tv and communication with people in the UK over the net. The establishment over there was saying how unfair the decision was and nobody was listening to them. They were apparently on the wrong side of the stock market the next morning.

    The tide turned like this. The remains were winning, but one of my friends said just wait until everybody gets out of work and goes to vote. That's where the referendum was won by the working class. The were fed up with the Feds. Did you see greater London which is 1/3 migrant voted to stay and everywhere else in England voted to leave.

    There will be some short term pain. Just as it was called around 11pm EST I was commenting with them how a weaker pound will increase exports and tourism and that the USA should stop buying chinese good and buy more UK made products. Trump went with my ideas the next morning.

    Looks like Scotland may want another independence referendum because all the other countries that make up the UK voted to stay overwhelmingly. They need to wait at least for the election cycle, but it would be a mistake. I think the UK comes back meaner and leaner. Goodbye bloated government.
     
  18. Mr Paradise

    Mr Paradise Midas Member Midas Member

    Joined:
    Dec 3, 2011
    Messages:
    6,721
    Likes Received:
    6,994
    Trophy Points:
    113
    Location:
    Lake Superior
    If this was truly a blow to the globalists and not part of some sinister bigger plan they'll just flood the UK with another million or so browns, then they'll destabilize the UK economy as best they can and then revisit this decision in a couple years.
     
    andial likes this.
  19. andial

    andial Sir Midas Member Site Supporter ++

    Joined:
    Apr 1, 2010
    Messages:
    9,959
    Likes Received:
    9,908
    Trophy Points:
    113
    Will see now if some immigration controls are put in by the new British leader, that will be important.
     
    CrimsonGuardJay likes this.
  20. CrimsonGuardJay

    CrimsonGuardJay Silver Member Silver Miner

    Joined:
    May 16, 2014
    Messages:
    1,712
    Likes Received:
    1,169
    Trophy Points:
    113
    That truly drives me bloody fucking insane. Us white, male successes are the only thing that keep our respective countries going by working hard, paying our protection mon- *ahem* 'income taxes',

    ....and since we are smart, independent and have a will to succeed, we want NOTHING to do with the gov't, since it does nothing but leach off of us and tell us how privaleged we are. Come to think of it, a reasonable portion of my life has been passionately making efforts to keep gov't and other people the hell out of it. Hands out of my wallet, feet off of my land.

    I make damned sure people KNOW I'm successful and white and damned proud of it.

    If it wasn't for societies advances by white males, browns and blacks would still be living in huts made of shit, literally EATING each other.
     
    skychief, Irons, andial and 1 other person like this.
  21. nickndfl

    nickndfl Midas Member Midas Member Site Supporter ++

    Joined:
    Jan 7, 2011
    Messages:
    11,241
    Likes Received:
    8,844
    Trophy Points:
    113
    Location:
    Florida
  22. gnome

    gnome Platinum Bling Platinum Bling

    Joined:
    Apr 10, 2010
    Messages:
    4,131
    Likes Received:
    2,472
    Trophy Points:
    113
    Here's the original drawing:
    [​IMG]
     
  23. Zed

    Zed Size doesn't count! Midas Member

    Joined:
    Mar 30, 2010
    Messages:
    11,357
    Likes Received:
    9,335
    Trophy Points:
    113
    Gender:
    Male
    Occupation:
    Nuclear Technician
    Location:
    Springfield
    The young city dwellers hate brexit, the older country dwellers want it. It seems to be a demographic divide... the young mostly have no clue as to the damage done, they don't remember England before. Really the UK hasn't had a great run since the end of empire, been one crappy thing after the next. So it seems to me.
     
  24. karl_gerbschmidt

    karl_gerbschmidt Seeker

    Joined:
    Nov 10, 2015
    Messages:
    114
    Likes Received:
    50
    Trophy Points:
    28
    be careful of what you wish for---could this be the first link in establishing the NWO, one currency--whoever has the most gold runs the show.....stay tuned
     
  25. Uglytruth

    Uglytruth Gold Member Gold Chaser

    Joined:
    Apr 6, 2011
    Messages:
    3,993
    Likes Received:
    4,864
    Trophy Points:
    113
    That means they got all they need to pull off whatever they want. Didn't England dump most or all it's gold at rock bottom prices years ago?
     
  26. mispillion

    mispillion Silver Member Silver Miner Site Supporter

    Joined:
    Mar 31, 2010
    Messages:
    322
    Likes Received:
    341
    Trophy Points:
    63
    Gender:
    Male
    Occupation:
    seaman
    Location:
    kenmore
    Maybe the brits are more grown up than us. Over here, generally the campaign with the biggest war chest wins. With all the globalist money that obviously went into the remain campalgn, where did the exit get the money to fight them? Soros has been calling for a downturn in the market and bought into gold miners. Maybe all is not as it seems
     
  27. andial

    andial Sir Midas Member Site Supporter ++

    Joined:
    Apr 1, 2010
    Messages:
    9,959
    Likes Received:
    9,908
    Trophy Points:
    113
    Did that pope douchebag have anything negative to say about the English leaving eurofagland yet?
     
    nickndfl and D-FENZ like this.
  28. Flight2gold

    Flight2gold Silver Member Silver Miner Site Supporter ++

    Joined:
    May 12, 2010
    Messages:
    1,465
    Likes Received:
    1,830
    Trophy Points:
    113
    Gender:
    Male
    Occupation:
    pilot
    Location:
    Florida
    If somebody or a large group of people went to jail now after Brexit maybe we would see an Icelandic type turnaround.
    It looks like the same scum in leadership are going to try anything they can get away with to undermine.
     
    andial and Uglytruth like this.
  29. D-FENZ

    D-FENZ Gold Member Gold Chaser Site Supporter ++

    Joined:
    Jan 24, 2011
    Messages:
    1,477
    Likes Received:
    2,929
    Trophy Points:
    113
    It seems that every time- and it doesn't happen very often- but when the liberal globalists lose a vote they scream about how the voters were lied-too, are racist, ill-informed, uneducated, misogynistic populists etc. etc... But when they win they wax poetically about how the will of the people has been heard and how wonderful it is to live in a democracy.

    It's not over yet. Do not underestimate the will of the losers here. A few more days of short term market losses, disruptions and volatility will bring more of them out of the woodwork. It has already started- calls for a re-do, nullification, foot dragging etc. etc. The shenanigans happen on the local level too. When a bond issue for a new overpriced and un-needed school, jail or community center fails they just repackage it and trot it out again and again until they get their desired result.

    I really hope the UK can hold firm on this one.
     
    Flight2gold, andial, viking and 4 others like this.
  30. Irons

    Irons Deep Sixed Site Supporter Mother Lode

    Joined:
    Mar 30, 2010
    Messages:
    23,126
    Likes Received:
    30,275
    Trophy Points:
    113
    Every person who wakes up to what is going on weakens the murderous elite,.

    .
     
    Flight2gold and Son of Gloin like this.
  31. CrimsonGuardJay

    CrimsonGuardJay Silver Member Silver Miner

    Joined:
    May 16, 2014
    Messages:
    1,712
    Likes Received:
    1,169
    Trophy Points:
    113

    I pray they do. I really don't see how England could be left WORSE without the EU. I think I read they have to pay around 380 million pounds to the EU every WEEK, and they get less than half of that back, the rest goes to other poorer countries.

    England in the EU is akin to the self-employed guy with a wife and son who works his ass off to make a gross income of 80k, and sees it reduced to 32k after gov't protection mon- -*ahem* 'income taxes,' and screams at the sky "WHAT THE FUCK AM I DOING?!"
     
    D-FENZ and Irons like this.
  32. SongSungAU

    SongSungAU Midas Member Midas Member

    Joined:
    Jun 8, 2010
    Messages:
    4,535
    Likes Received:
    5,426
    Trophy Points:
    113
    Son of Gloin, gnome and andial like this.
  33. gnome

    gnome Platinum Bling Platinum Bling

    Joined:
    Apr 10, 2010
    Messages:
    4,131
    Likes Received:
    2,472
    Trophy Points:
    113
    Thanks for the correction. Just grabbed it off google image search.
     

Share This Page