Markets Roiled as Britain Votes Itself Out of EU

Britain has voted to exit the European Union and its prime minister has resigned in the wake of the Brexit vote. The markets have, so far, reflected the world’s uneasy reaction to the event. But it is early days, says newsletter writer and technical analyst Clive Maund, who offers his views on the day after Brexit.

Woke up to the stunning news this morning that Britain has voted by a narrow but clear majority to leave the European Union (EU). I had feared that the British electorate would be cowed into submission by the barrage of pro-Europe propaganda and scaremongering, like the Scots were at the time of the Scottish independence referendum, but they weren’t—or at least sufficient of them weren’t to assure a positive result.

Nevertheless, 48% still voted to stay in, which shows you how many gullible idiots there are out there—they are either that or in some way they are benefitting from the EU, by getting handouts etc.

The election result map above is interesting, as it reveals that the whole of Scotland and Northern Ireland voted to stay in Europe; this shows that they are probably benefitting from EU handouts. Actually, in both the Scottish referendum a couple of years ago, and in the EU vote last night, the Scots showed about as much force as Longshanks’ son, and none of the valor of William Wallace, as those of you familiar with the film “Braveheart” will understand.

It was amusing to watch upper-class buffoon David Cameron, the British prime minister, both admitting defeat over the EU vote and announcing that he was going to quit on the TV this morning—and not surprising considering that he has misread the mood of the population and made a fool of himself by standing up resolutely for the interests of the elites over …read more

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