UK votes to leave the EU

24 Jun

london 6.59am sunny 14.4C friday 2016

what a surprise i have when i just woke and got online to see this headline in the news.  i am elated of course, especially when i was expecting to lose, and preparing to live with it.

i m glad the british have the fighting spirit still and willing to take hold of their own fate in their own hands rather than let other unelected people dictate to them.

and so yet again the polls have been proved wrong. i now know why. it is because those who vote leave kept quiet. i did, and i bet a lot of people also felt the same. we just vote and it would appear a lot of others felt the same and want to leave.

london clearly voted to remain… again not surprising because london has benefitted enormously from it. all that cheap labour from very skilled europeans come to london to work. we see that in all those restaurants opening, and coffee shops etc proliferating all over the city. but the rest of england gets the big migrant problems of overcrowded services, schools, nhs, etc. and none of the benefits.

   sunderland with its 77% leave vote (its now amended , the final tally is 61% to 38% the majority was about 22%.)was the first indication that things might not be all that it seems. and looking at the map of england it is a sea of blue for leave, even wales, surprisingly, as most of us thought they will vote remain.

it is truly a historic moment. independance day all right.

Digital StillCamera

Digital StillCamera

 i am glad the bookies will lose money. they were predicting a remain win. i hope all those who betted for a remain win lose money. this link in the guardian allows me to find out how my area (westminster) voted. 

More people in Westminster voted to remain a member of the EU – a 37.93% majority.

68.97% for remain 53,928
31.03% for leave 24,268
A total of 78,196 people voted, representing 64.88% of the 120,524 electorate.

8.02am final tally country wide the result …51.9% leave, 48.1% remain

added. 25.6.16 the sharp up and down of the stock market was quite a frightener, but i think we are getting to know its tricks… it always do that because the lot of them are money chancers, able to see a chance to make money on the backs of gullible fools. they first sell, then when a lot of others panic and sell too and the market drops, they then calculate how much it will drop and then buy. so dont let what the stock market does affect you.

the right decision was made, we have to get out of this EU, it is now going for tighter union, which the uk just will not fit into.

in time, people will realise that the EU is making itself into a closed shop. not by saying so, but by indirect ways, their myriad regulations and red tape will take care of that. it will make it difficult to trade with if u are outside it. if it makes it difficult for the uk to do business with it now that we are out… we will know its true intentions. 

i hope it wont succeed, that is why i hope it will break up, because if it does succeed it will cause global trade to polarise into them and the rest of the world. with the uk out, the incentives to join might be lessened. with 27countries in its pocket now, it is a powerful group.

the refugees are both a source of manpower for it as well as a potential terrorist source. mixed blessings there. if they can control its influx it will help, hence their giving away refugee passports. that is a very recent development. the passports will digitally identity each refugee, but it will also allow him to move about europe. at the moment there is no way of identifying a refugee, they could just disappear into the system…(it is a typical solution that can only be  cooked up by bureaucrats.)

but i think the refugee problem will be the one that breaks them up.

right now, everyone is criticising cameron for allowing such a referendum. history i think will make us grateful to him for giving us, the people, the chance to choose. that choice have been lacking in all the doings with the EU.

as usual of course all this is just one person’s opinion, ie mine. so dont get too het up if u dont agree with it. haha.

added. 26.6.16 quite a good account of why uk voted for brexit.

In the end, the lesson of the referendum was a simple one: more Britons felt they were losing from EU membership than winning. It was a message that politicians and business leaders based in London — the only region of England which had a majority for Remain — totally failed to spot.

it seems to be forgotten that switzerland withdrew its application to join the EU a week before the referendum vote. those canny switz must know something … 

added. 26.6.16 interesting that the german , spanish and french stock exchange lost a lot more than the english stock market which recovered very quickly. i think this is the moment when the uk is like that boy who shouted, ‘but the emperor has no clothes’, of the EU. 

added. 7am 27.6.16 16.4C cloudy monday . another article which asks why uk left. and may pinpoint the single most important reason… people dont like the sudden huge influx of migrants , and it applies to usa too… and may bring in trump as president. it is uncontrolled immigration i think that worries people. because it brings in sudden huge increase in a community which can overwhelm public services.

added. 27.6.16 this article about italy’s banking system points out another weakness in the EU. their rules have put a strait jacket on their banks . the euro is really weaker than it appears and it might be the world will come to realise it, when italy’s banking system collapses, then u can bet the euro will fall like a stone. 

Italy’s banks are the Achilles Heel of the eurozone financial system. Non-performing loans have ratcheted up to 18pc of total balance sheets as a result the country’s slide into depression after the Lehman crisis.

The new bail-in reform this year has brought matters to a head, catching EU authorities off guard. It was intended to protect taxpayers by ensuring that creditors suffer major losses first if a bank gets into trouble, but was badly designed and has led to a flight from bank shares. The Bank of Italy has called for a complete overhaul of the bail-in rules.

It is now almost impossible for Italian banks to raise capital. They are caught in a pincer as the ECB simultaneously demands compliance with tougher capital adequacy buffers, in some case demanding fresh infusions of capital three or four times.  Mr Codogno said the ECB is unwittingly destabilizing the banks in an overzealous attempt to make Europe’s banks safer.

added. the british banks bore the brunt of the losses of their share prices. why is that u might ask, if our banks are well capitalised… it seems they act as middle men for the rest of the world to access the european market… passporting it is called. and not being in the single market will jeopardise it… as this article explains. but european banks will also lose… so the chance of  all banks being given access to each others market is high. it seems to me that britain has acted as a conduit for the rest of the world to access the EU market. without britain, the rest of the world will have to go through the expensive time consuming way of opening up trade links with EU . it might make the EU loosen its language and regulation barriers to allow them to bypass the UK …logically that is the best way EU can take advantage of the situation… but  they are such sticklers for regulations and rules they wont do it, even though they will benefit. after all, as a result of uk leaving the EU,  there is even a call to remove english as an official language  in all interactions with the EU.

but u can see why the EU wants to bring everyone into the euro and join up all the banks in the EU countries and centralise the whole thing. that way they can lock the uk financial institutions out of the EU and keep all business in house. 

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