Interesting price action – it is the UK that is leaving Europe and yet we saw the DAX fall 6.8%, CAC -8.35% and IBEX down 12.35% whilst FTSE declined just 2.8%! Bank share were hit everywhere with some of the large institutions (Deutsche Bank, Barclays and RBS) falling between 14 and 18%. The afternoon behaved […]
The Dow has fallen in a knee-jerk reaction to BREXIT, which really is hype thanks to politicians. The gains for Britain are clear. It escapes the forced immigration and it escapes from EU draconian regulation. It is effectively the same as the American Revolution where the slogan was “no taxation without representation,” and the EU structure […]
https://www.armstrongeconomics.com/wp-content/uploads/2016/06/MAA-Socrates.mp4 COMMENT #1: Marty, Socrates just beat every polling organization out there. The bank I work at conducted its own poll and said remain has it. Gold fell and bounced off of 1206 you said was the line in the sand and screamed up and bounced off the monthly bullish reversal which was your line […]
As we witness the biggest fall in GBP in over 32 years, UK bank stocks are declining anything from 5% (HSBC) to 25% (Lloyds). Gold rallied and there was a flight to safety within the government bond markets. The UK population awoke this morning in the confidence that democracy has prevailed. In Boris Johnson’s comments […]
The pound sterling had a smashing day ranging between 15016 and 13226; penetrating the 2009 low of 13508 as well as the 2001 low of 13680. That leaves the prior low that formed in 1985 of 10520 on the cash (103 futures). This is rather important for it implies that we should see that […]
Exactly on our cyclical model, the UK voted to leave the EU (52% to 48%) in a historic referendum after 43 years (half 8.6). David Cameron has announced he will resign as prime minister in October, and all one can say is good riddance. Cameron is stepping down despite the fact that 84 Eurosceptic Tory MPs […]
The hacker Guccifer has hacked Hillary’s email server before. He has now hacked the Democratic National Committee. Reports state that no financial records were obtained. He has published a brief portion showing their top donors. Here they are: (Guccifer 2.0 DNC’s servers hacked by a lone hacker – GUCCIFER 2)
When Hillary was the Secretary of State, she refused to appoint an Inspector General to monitor her department. It was clear that she did not want anyone snooping around so she could hide her private emails and greed. She even sold positions on the International Security Advisory Board. Commodities trader Raj Fernando “bought” his appointment […]
BREXIT now up 516,302 Gold is rising with resistance at 1362, support in sterling lies at 12900, and resistance in silver 1850.
