United Kingdom Referendum on European Union Membership

[jaichind]

Scotland is mostly done.  I will be up to London and some other urban centers to stop Leave.  Most likely they do not have the votes to do so.

[jaichind]

GBP down 6%

[jaichind]

Pound is collapsing. Great time to visit the UK!

It is the dollar that is skyrocketting. Every other currency is in the free fall.

Japanese yen is doing better.

JPY is a heaven currency just like Gold.  Both were down during the NY trading day and now up.  

[jaichind]

When will BBC bring Farage on for a victory interview?

[jaichind]

JPMorgan Says U.K. Referendum Analysis Points Toward 51.1% Leave

[jaichind]

GBP now down 8%.  Last time GBP this low vs USD was in 2009.

[jaichind]

Manchester 60.4 IN

Not anywhere close to enough to turn the tide.

[jaichind]

It is impressive what Farage accomplished.  Totally unexpected.

[jaichind]

Just a not to the people celebrating this win for Leave.  The pound has now fallen to a 31 year low on this news, and it continues to go down.  Stock exchanges are all falling at least 3 percent, much more in Europe.  Real world consequences right there.

Temporary panic. Unjustified.

I generally agree with this.   A lot of asset prices will normalize over the next few days.  It will for sure be down but not as dramatic.

[jaichind]

It is impressive what Farage accomplished.  Totally unexpected.

Farage may have failed to win an MP seat half-a-dozen times, but he won the one vote that mattered, it seems.

Hmm?

Farage didn't lead the Leave campaign (they actually tried to keep him off the airwaves as much as possible as he's not popular) and didn't trigger this vote.

I know.  But he is the one that made having a referendum and having the UK vote to leave EU his main political goal for many years.  Many including myself saw this as quixotic.  But tonight he did it.

[jaichind]

Birmingham, England's second city, has gone for Leave with a majority of 3,000 votes according to ITV

Wow.  Another deathblow to remain.

[jaichind]

Sinn Fein calls for a referendum on Irish reunification

[jaichind]

JPY up 5% might also be an impact on upcoming Japanese Upper House elections on July 10th where the Abe regime is trying to push down JPY to reflate the economy.  This will be another blow for Abe.

[jaichind]

Rumours that John McDonnell is involved in moves against Corbyn.

But even with these results it seems to me in an re-election campaign Corbyn would win a grassroots vote.

[jaichind]

The likely Brexit victory is good news for Trump.  The Brexit coalition is exactly the type of coalition Trump is trying to build.  Different context might make it not work in USA but such a coalition showing that it can win in UK can only be good news for Trump.

It seems Preditit agrees.  Trump shares there up 5% since last night.

[jaichind]

33.58 million people voted on 72.2% turnout.  So in terms of total votes cast this still does not break the 1992 record which I believe is 33.59 million.

[jaichind]

Yes, but EU is dependent on UK trading as well and an UK exit from EU will involved very favorable trade deals for both sides to keep as much of the trade flow as possible.

[jaichind]

I wonder if the unexpected large vote for Brexit in Wales despite to low number of immigrants in Wales has to do with the fairly large number English immigration into Wales over the last couple of decades.  The Brexit vote in Wales might more be a vote for lower number of immigrants into England which in turn will drive down the number of English immigrants into Wales.

[jaichind]

In the meantime FTSE 100 index is now above the pre-Brexit vote levels.