Debt Rattle June 25 2016


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    Harris&Ewing Underwood Typewriter Co., Washington, DC 1919 • World’s 400 Richest People Lose $127 Billion on Brexit (BBG) • Global Markets Lose $2.1 T
    [See the full post at: Debt Rattle June 25 2016]

    Kirk Waln

    But the headlines read: “2 Million Britons Demand Second Referendum”. The implication being that these folks are among the 17.5 million that voted to leave the EU. MAYBE there’s some evidence for that but it seems far more likely that it’s typical MSM spin. Something like 16 million voted remain so what an absolute shock that 12% want a second chance!


    Oh I think a second vote is likely. There are all sorts of stories about how yes voters are feeling regret, saying it was just a protest and they didn’t think it would win. Throw in the markets having a tantrum and blaming it all on those nasty racist nationalist yes voters and I see another vote as a certainty.

    If not the exit is going to be a looooooooooooooong drawn out affair, if it really happens at all. The important thing is how it will spurt others to go the same route.

    I have no clue how those countries can reestablish their own currencies. I think the powers that be will say in no uncertain terms, ‘we ain’t going to take you stinking lire, franks or whatever. Of course that means certain defaults on all their Euro sovereign debt at .001% or whatever the hell it is. Oh, and no new way to borrow more. Hey Italy, you haven’t begun to see austerity, yet.


    Thanks for unlocking me so that I can post my two cents

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