Posted on 06/15/2016 1:55:54 PM PDT by nickcarraway
Among those who manage gobs of money, the possibility that Britain might actually disavow the European Union seemed until recently like a remote and even outlandish possibility.
But about a week before voters go to the polls to determine their future, masters of finance are suddenly absorbing the prospect that Britain might really walk, unleashing anxiety and uncertainty throughout the global economy.
Like local responders readying sandbags as a hurricane menaces their shores, financial industry overseers have been quietly drawing up contingency plans while surveying the expensive havoc a so-called Brexit is already wreaking. Central bankers from London to Washington have been monitoring the tempest while making preparations to unleash credit should markets seize with fear.
Angst has seeped into the calculations. As investors digest the possibility that the largest marketplace on earth may be days away from a messy alteration, they have been yanking money out of riskier storehouses like stocks and putting it into safer instruments like bonds. The British pound and London stocks have been falling in frenzied trading.
The conversation is now focused on managing the risks of Brexit. The trouble is that the worries are so diffuse and rife with unknowns that any attack plan amounts to an exercise in guesswork and hope. Executives, bankers and bureaucrats are grappling with something that could be minor or momentous and has never happened before.
(Excerpt) Read more at nytimes.com ...
Freedom and Liberty are always a messy proposition for the elites
Somehow Europe had trade before the EU, I bet they’ll manage it again.
Thousands of EU workers in Brussels, make more than the Prime Minister of Britain.
Janet Yellen was out about mid-day, barking “ruf”, “ruf”, in advance of the EU Leave-it vote.
Yellen was sending some sort of message from Obama, no doubt, to the English leaders and opinion-shapers. I just couldn’t figure out exactly what it was.
Pretty sure the elites have stuff the ballot box, and, S0ros, I believe, makes more $ if they stay in and the $Euro crashes.
Any others want to comment on my comment? I think I’m right, but may be off a little.
I don’t know. Soros profits from turmoil. He may be betting on Brexit.
Hey, Brits…
When in the Course of human events, it becomes necessary for one people to dissolve the political bands which have connected them with another, and to assume among the powers of the earth, the separate and equal station to which the Laws of Nature and of Nature’s God entitle them, a decent respect to the opinions of mankind requires that they should declare the causes which impel them to the separation.
I’ll believe it when I see it.
That was a most brillent post good sir. Few will understand what you posted.
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