Britain Votes To Leave EU: Financial Armageddon Dead Ahead
Britain votes to leave the EU ignoring months of threats of Global Financial Armageddon for doing so
The media has threatened for months the result of Great Britain leaving the EU would be global financial Armageddon.
Well the results are in and 51.9% of Britains have voted to leave.
For months global news finance headlines have been littered with non-stop constant threats of a global economic catastrophe if Britain decides to leave the EU.
The vote has come in and a majority of voters have chosen to leave the EU.
That can mean only one thing, its time to bust out your bug out bag, grab your AR-15s and run to your underground bunkers deep in the backwoods of civilization.
Or you can choose to stay way were you are and get ready to face massive riots, looting and unbridled criminal as tidal wave after tidal wave of economic tsunamis begin to crash down upon modern society across the globe and end civilization as we know it.
As a recap, from Market Oracle:
Bankers Warn of BrExit Financial Armageddon if British People Vote for Freedom
Seriously, the worse economic downturn in United States history was the fallout of the 2008 financial crash and the media is saying the result of this vote is already having a greater impact.
Jamie Dimon of JP Morgan was in London Friday to help his good buddy George Osborne out by doing his best to scare the British people into voting to REMAIN within the EU on June 23rd as that which was in the best interests of the British establishment that OWNS Britain. Jamie, the harbinger of a Brexit financial apocalypse that would see Britain’s financial sector evaporate. Though maybe not on par with the last financial apocalypse that JP Morgan along with fellow bankers helped bring about in 2008. Which saw the world’s governments blackmailed into bailing out the banks to the tune of $trillions of dollars. Where even little old blighty was forced to cough up over £500 billion to bailout the Britain’s banks, and then have a £4 trillion noose of banking sector liabilities put around the necks of the British tax payers so as to prevent financial armageddon.
Friday’s actual threat was that JP Morgan alone could relocate upto 4,000 bankers to Europe if British voters voted for a Brexit.
So that there is no illusion the magnitude of hole that the bankster elite had dug not just Britain into but had the whole world teetering on the edge of financial collapse as as the following video illustrates of just how close the U.S. Financial System came towards total collapse. At 2 minutes, 20 seconds into this C-Span video clip, Rep. Paul Kanjorski of Pennsylvania in February 2009 explains how the Federal Reserve told Congress members about a “tremendous draw-down of money market accounts in the United States, to the tune of $550 billion dollars.” According to Kanjorski, this electronic transfer occurred over the period of an hour and threatened a further $5 trillion to be drawn out triggering a total collapse of the Financial System, which prompted Hank Paulson’s emergency $700 billion TARP bailout action.
So, Friday saw Jamie back in town trying to scare the British people, because one thing the likes of JP Morgan are good at is blowing up financial systems by blowing themselves up, suicide banks. In which respect every major British Bank in 2008 was a SUICIDE BANK! Threatening to blow up and take the financial system down with them IF they were not BAILED OUT by the British tax payer! But they were not done with us yet! For within a couple of years they were BACK with a new story, that of further perpetual bailouts under threats of blowing the Euro-zone apart! It was JP Morgan and Goldman Sachs that cooked the euro-zones books so that countries such as Greece could HIDE their debts and go on a debt fuelled decade long spending binge! And now 8 years on the euro-zone remains in a permanent state of crisis, with Greece whilst quiet in the mainstream press headlines is nevertheless once more teetering on the edge of financial collapse demanding perpetual EU bailouts brokered by the likes of JP Morgan!
Read Full Article: Market Oracle
From The Daily Bail:
SKY NEWS LIVE COVERAGE
It’s all over but the crying from David Cameron. Global equity markets are in freefall. Gold is soaring. The British pound sterling is crashing, now down 10% vs. the greenback. Dow futures are pointing to a 700 point drop at the open tomorrow. TTIP is now in play.
GLOBAL STOCK, BOND AND CURRENCY MARKETS
CHART | POUND vs. DOLLAR
From Al Jazeera:
- British pound down to a 31-year low, biggest fall in history.
- GBP to USD sank as low as $1.35.
- Standard & Poor’s will strip the UK of its AAA credit rating.
A British vote to leave the European Union has shocked the world’s financial markets and has brought the British pound down to a 31-year low, its biggest fall in history.The final results of the historic EU referendum – a 52 to 48 split in favour of Britain’s exit – have set the UK down an uncertain path towards independence and represent the largest blow to European efforts at greater unity since World War II. But the exit vote is also bad news for investors.
British banks took a $130bn hit on Friday, with financial giants such as Barclays and Lloyds down 30 percent.
The pound sterling sank as low as $1.35, a near 10 percent drop in value and its lowest rate against the dollar since September 1985, before recovering to $1.37.
The fall was reportedly even larger than the drop during the 2008 global financial crisis.
If the pound continues to weaken, the UK’s central bank, the Bank of England, may be forced to intervene.
The bank will have to either shore up the currency by purchasing more pounds with other currencies or raise interest rates, a move that would hit UK citizens with loans and mortgages.
Property analysts in the UK have said that a British exit from the EU will bring about a slowdown in property price growth, and even a fall in prices.
And while the long-term effects of a Brexit on the markets are less clear, some analysts have warned that an exit could cause mass job cuts and a significant drop in foreign investments.
“It’s an extraordinary move for financial markets and also for democracy,” said Richard Benson, the co-head of portfolio investments of London-based currency specialist Millennium Global.
“The market is pricing interest rate cuts from the big central banks and we assume there will be a global liquidity add from them in the next few hours,” he added.
Many global investors have dropped the pound and fled to safe havens such as gold and the Japanese yen.
Such a body blow to global confidence could prevent the US Federal Reserve from raising interest rates as planned this year, and might even provoke a new round of emergency policy easing from all the major central banks, Reuters news agency reported.
Global currencies suffered throughout the day as Asia and Eastern Europe woke up to news of a Brexit and alarmed investors worried about pulling funds out of emerging markets. Poland, where many of the Britain’s eastern Europeans come from, saw its zloty slump by at least 7 percent.
Analysts said they are worried that London’s status as a financial capital may now be eroded, especially if the UK loses “passporting” rights, which allow banks to reside in the UK and sell their products and services throughout the EU.
Standard & Poor’s, an American financial services company, has said it will strip the UK of its AAA credit rating.
Fears of recession
Financial markets have been gripped for months by worries about what Britain’s exit from the European Union will mean for Europe’s stability.
“Obviously, there will be large spill-over effects across all global economies if the Leave vote wins. Not only will the UK go into recession, Europe will follow suit,” predicted Matt Sherwood, head of investment strategy and fund manager at Perpetual in Sydney.
Richard Buxton, head of UK equities at Old Mutual Global Investors, predicted a similar fate, saying Britain’s decision to leave the EU is likely to result in the country entering into recession, adding that domestically focused British businesses would be hardest hit.
“Investors should now brace themselves for an unpleasant period of relatively indiscriminate selling as funds aim to meet redemptions in conditions where liquidity may be more limited than usual,” Buxton said.
However, Mark Carney, the Bank of England chief, has said that the bank can provide liquidity in foreign currency if it is needed to ensure market stability. Similar assurances were made by Bank of Japan Governor Haruhiko Kuroda.
Source: Al Jazeera and agencies
So let’s watch and see how this pans out.
Obviously the British voters didn’t believe the Corporate Media headlines and decided to leave.a
Only time will tell but here in the US, in Britain, The EU and in fact across the globe life goes on, at least for today.
Of course, if none of these threats materialize the media will lose absolutely all credibility.
Repeated headlines of economic catastrophe, financial collapse, Armageddon and apocalypse. Surely there will be severe financial consequences.
Surely the fallout will come because if it doesn’t it means the media has done nothing but air pro-globalist corporate banking propaganda and surely they would never do such a thing just to keep the banks having slightly lower profit margins at the cost of citizens across the globe.