Jun

24

Brexit, from Andrew Goodwin

June 24, 2016 |

Any injection of liquidity will look like a feeble effort by a central bank to fight off speculators.  The engineers of this one will claim it is inflationary if they can make their gold go higher.
 
It was impressive that even though the odds were so close for the brexit vote, that the money with more to move behind it was so lopsided on the wrong side. The engineers fooled those folks watching the gambling sites and BP curves while betting on their historic success rates.
 
Since this was the most bet upon political item in European history, it is likely it will move around for a while so that the winners are not determined yet.  Max pain is needed for the other side.

Paul Marino writes: 

I'm sure the pound drop has helped but still stronger than I would have expected. Along the lines of the Chair's French Revolution rally during the guillotine days. 


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