| Story Views | |
| Now: | |
| Last Hour: | |
| Last 24 Hours: | |
| Total: | |
Cable Crashes To 7 Year Lows As Brexit Battle Begins
Be prepared for the next great transfer of wealth. Buy physical silver and storable food.
zerohedge.com / by Tyler Durden / 02/22/2016 08:21
With the UK’s referendum on EU membership due in four months, it appears the market is gravely concerned about the possibility of Brexit. Despite the unleashing of Project Fear (both military and corporate fearmongery), cable (GBPUSD) has crashed 2.3% (the most in 7 years) to its lowest in 7 years, and both FX volatility and credit risk Brexit indicators are soaring to record highs.
Just as we warned, Friday’s dubious gains have evaporated and cable is crashing to 7 years lows…
As Deutsche Bank’s Jim Reid notes,
So four months tomorrow we’ll see yet another important referendum for financial markets as all of us here in the UK decide on EU membership. Maybe we’re imagining it but it seems that important national referendums are becoming more widespread. In the last 12 months we’ve seen the Scottish Independence and the Greek EU deal referendums both of which were market moving events. Not long before those we had the Crimea referendum, although in fairness this was less of a market moving event, while Catalonia was the subject of a somewhat de-facto referendum back in September. If such national polls are becoming more frequent it perhaps reflects the weak global economic environment and the hope that a major change brings a better future.
The post Cable Crashes To 7 Year Lows As Brexit Battle Begins appeared first on Silver For The People.
Thanks to BrotherJohnF
Source: http://silveristhenew.com/2016/02/22/cable-crashes-to-7-year-lows-as-brexit-battle-begins-2/
