The Vote in Newcastle was:
Our numbers today are 1259.30 in gold nearest futures, 1.4830 in the cash pound, and 18018 in the DOW. Gold has crashed the testing the key support again, and the Dow rallied but also failed to breach the key resistance. As with all this, the markets have pushed to extremes. Our model shows it really does not matter for the pound would have to get above 15300 just to appear strong. The likelihood of a REMAIN rigged vote means that Britain will now be joined at the hip with the Euro. They might as well surrender the pound as well. What lies ahead for Britain will be indistinguishable from the euro and all this will do is raise civil unrest. It will no longer be Britain first and they will surrender the Queen’s sovereignty as well so they might as well begin saving some money and disband the Royal Family while they are at it. The Queen opens Parliament and says it is “My Government” but those words will soon prove to be hollow for Brussels will rule instead. They markets are simply reflecting a bad trend.
A somewhat mixed and quiet session for Asia, which was really to be expected. JPY traded between 104 and 106 for the majority of Asian and European time zones, edging towards the 106 level as Europe closed. The Nikkei benefitted most of the day on the back of the last poll seen ahead of the media ban (under UK law no reporting is permitted until polls close (10PM). Shanghai and HSI both opened lower but it was only temporary for the HSI as the day produced a 0.35% return. However, Shanghai could not pull itself out of the negativity closing 0.5% lower on the day. As Europe closed, all Asian indices had followed global markets and were around 1% better.
Europe started on a positive note and due to UK media restrictions were reasonably well behaved throughout the day. All indices were better; up by around 1.5% as confidence continued to price a “remain” verdict ahead of any form of confirmation. We do not expect to hear any concrete results until after midnight BST. Most data, on either side of the pond, was ignored and let markets revel in their complacency. When markets did run a little too far, things were topped and so we closed the European session on tender-hooks.
The US market has closed too early for the judgement on today’s events and so it is either a sleepless night, for those manning the desks, or we wake tomorrow morning and restructure the consequences. A positive day with all core indices closing around 1% better but in hesitant trading. With the exception of Utilities a fairly broad balanced rally that closed the day at the highs. The DOW, S&P, and NASDAQ all closed around 1.3% higher on the day.
Even as we await the outcome of the vote the markets have spent the day assuming the UK votes to remain within the EU. The Treasury market traded heavy most of the day with the curve steepening all the way. 2/10 closed +96bp closing 10’s at 1.74% (the highest yield seen in nearly two months). As European equity markets rallied we did see Bunds trade off by not to the extent of the US market. US/German 10yr spread closed this evening at +165bp. Italy closed 1.39% (-3bp), Greece 7.54% (-20bp after ECB makes Greek debt eligible collateral), Turkey 9.22% (-16bp), Portugal 3.06% (-5bp) and UK 10yr Gilts at 1.37% (+6bp).
So much hype and anticipation has been priced into tonight’s closing prices, so overnight activity could be very interesting indeed. Put the cocoa on and camp down for a long night in front of the telly/screens.
The polls in England are closing early due to rain. But most likely, they were told to close because the vote may be against the government. So this may be yet another dirty trick to deny the people any real democratic process. This is more likely than not going to increase civil unrest from here on out. It’s just stupid. This is the poster child for why people should vote online. But then again, how can government rig elections if they cannot be in charge of counting the votes?
A record 46.5 million voters have signed up to weigh in on today’s referendum, which brings up one, single question: “Should the United Kingdom remain a member of the European Union or leave the European Union?” With the establishment opposed to BREXIT and the banks telling their employees to vote “No” to remain in the EU, you know one thing — what’s good for the bankers will never be good for the people.
Today is the BREXIT vote. It is interesting that Americans are at least starting to focus on it. What is at stake is the fate of Europe. The new EU government structure was deliberately designed to prevent any possible vote of the people from altering the plans of the elite. The calls for Britain to surrender its sovereignty are outrageous. This would be no different from saying the United Nations will, from here on out, make all the laws and decisions for the United States.
Britain will lose its identity. The elites of Europe support the immigration to merge all the races into one single, homogeneous body of people to end wars. This idea is seriously flawed for interbreeding all the races that have different religions and languages will never create the ultimate homogeneous society, which was opposite of Hitler’s master race. It seems these elitists just want to play God.
Britain is being asked to sacrifice itself to save the goals of the elitists who are behind the EU. They will receive nothing but serfdom in return. So a BREXIT vote to leave will be the kiss of death for the EU. Nonetheless, it will save Britain from the abyss. The propaganda that says Britain has benefited from the EU membership with trade is an outright lie. The annual economic growth using the government’s own data shows the British economy peaked and began its decline ever since it joined the EU in 1973.
Despite the truth, the odds are stacked against Britain. It would take an overwhelming vote by the people today to vote to leave (probably 60%+ to actually win). The government led by Cameron, including the Labour Party, is staying so they get their cushy jobs from Brussels upon retirement. They are intent upon betraying the British people to further the elitist agenda to save Brussels. Since so much is at stake, anything shy of 60% to leave will most likely be subject to outright fraud to ensure the British people remain subservient to Brussels.
Japan’s Toshiba 6502.T robot has taken on human form and visitors to the world’s biggest travel show in March were greeted by a lifelike robot. Under new proposed European legislation that is clearly intended to stop technology advancement, the growing army of robot workers are to be classed as “electronic persons” and their owners would then be liable to pay Social Security for them. This is an example of how nuts Brussels has become from regulating cow farts to now wanting to impose the same tax system to robots for their retirement.
Cameron’s lies that Britain will suffer if they leave the EU are rather astonishing. The EU has the most to lose on so many fronts and it is rather alarming that the press does not tell the truth. Forget the imports/exports that are just under half of the trade between the two. Trading would never stop nor would it be in the EU’s best interest to cut Britain off. The real key is diplomacy.
Whenever Europe has accomplished something useful, the UK has always been in the driver’s seat. Any thought that BREXIT would end relations is rather absurd. The EU has nothing without Britain. The only other country that spends more on its military than the UK is the United States. Germany could not defend Europe nor could France. Without the UK, Europe would have fallen to Hitler. A post-BREXIT EU that tries to stand on pride would quickly find itself no longer a powerful player on the world’s political stage. Sorry, but the EU is nothing without Britain.
The culture of these so called refugees is anything but acceptable. These lone males have been raping girls in Germany and Sweden. Now they raped a 5 year old girl in Twin Falls, Idaho. Even the media is in on trying to cover this up to save the politicians. Honestly, people wonder why there is an uprising against establishment politicians? Enough is enough. The arrogance of the elite political class is far too much and the mainstream media is helping them lie to the public. All refugees should be stopped right here and now. Sixty-Five percent (65%) of Syrian refugees cannot even read or write. They are unemployable. According to official counts, a vast number of these migrants are young, unmarried, unaccompanied males. In fact, the sex ratios among migrants are so one-sided — we’re talking worse than those in China. This is creating a serious problem and is radically changing the gender balance in European countries.
Germany and Sweden just for starters are facing growing public unrest amid a wave of reports of sexual assaults since the Cologne attacks. The refugees attacked 60 Minutes film crew in Sweden. The Swedish police had the audacity to blame 15 year old girls for being raped by refugees – it’s their fault. German Finance Minister Schäuble has the guts to play God saying Europe needs its women to be raped by refugees to prevent European inbreeding. The only way to breed with such people who cannot even read or write and have a low opinion of women is to surrender all Western culture and religion in the process. Schäuble is unfit to succeed Markel. He is the problem. They should be sent back to camps in the Middle East from where they came. This is not acceptable and those in power who advocate this are conspiring against the people everywhere.
