Brexit- Update: Britain has voted to leave the EU

[Husky]

If leave wins with the PM even legalize it?

[accord1999]

Originally Posted by Husky

If leave wins with the PM even legalize it?

There's a lot of questions whether if Cameron will even survive as PM the results don't change.

[Senator Clay Davis]

Leave now up over 700,000. Remain need a miracle now it seems.

[Resolute 14]

Originally Posted by FLAMESRULE

Pound is down about 10% (~1.77 vs 1.92). Gold up about $80/Oz...tomorrow is gonna be a train wreck.

Buddy of mine dumped everything today. I held on figuring stay would win. Damnit. Gonna be months to get back to square one, but maybe some bargains tomorrow.

[nik-]

Yeah, I think it's over. Not enough London districts remaining to overcome that.

This would be hilarious in it's self sabotage if it wasn't also going to #### basically everyone with investments too.

[Bill Bumface]

^I've got the biggest position in gold right now that I've ever had, I'm just not sure if I let it ride a bit, or turn it in for some discount equities tomorrow?

Gold at $1318 now. The chart is just hilarious looking.

[_Q_]

BBC and ITV calling it for Brexit

[Mr.Coffee]

Can anyone explain why the markets are so reactive to this?

[Ozy_Flame]

Keep in mind a vote for Leave only allows for a kickstart of talks over the next two years to negotiate an exit . . . An "exit" is still a long ways off.

[Fuzz]

Man, you see how much Scotland wanted to stay (62%) you have to wonder if they try to leave the UK again.

[FLAMESRULE]

Originally Posted by Bill Bumface

^I've got the biggest position in gold right now that I've ever had, I'm just not sure if I let it ride a bit, or turn it in for some discount equities tomorrow?

Gold at $1318 now. The chart is just hilarious looking.

Yep. Me too. Gold is now up $125/Oz to $1730. Jesus H. Oil is down $2.50/bbl. DJIA futures down 450 (about an hour ago). FTSE futures down 8%.

Lololol. Fack.

[Fuzz]

Originally Posted by Mr.Coffee

Can anyone explain why the markets are so reactive to this?

France, Germany and the UK are the economic powerhouses of the EU. If the UK leaves, countries like Spain and Greece won't be so afraid to bail as well and the whole union falls apart.

[Dogbert]

Originally Posted by Fuzz

Man, you see how much Scotland wanted to stay (62%) you have to wonder if they try to leave the UK again.

Scotland will be out of the UK within a year. There's already talk of an Ireland reunification vote as well.

[_Q_]

Originally Posted by Mr.Coffee

Can anyone explain why the markets are so reactive to this?

It's because of uncertainty. Uncertainty is always bad for the market.

Fundamentally, I don't think this changes anything at all for now, so I expect everything to go back to normal fairly soon.

[Caged Great]

Originally Posted by Mr.Coffee

Can anyone explain why the markets are so reactive to this?

Because they hate uncertainty for one. Secondly, this will have ripple effects throughout Europe and could destroy the EU and send the entire continent into a recession/depression due to the inter-connectivity of the economies.

Basically the UK just voted for a self inflected recession.

[_Q_]

There go the markets again! haha

[Mr.Coffee]

Right so basically, just hang onto my positions despite the panic tomorrow, and it should all come back eventually?

So the EU falls apart, can anyone make guesses on the implications of what that means? I guess I don't understand the big picture of what the EU really means, it's not like commerce and trade just come to a halt.

[nik-]

The one funny thing about this is it totally eliminates the right of British people to mock the hillbilly levels in the American electorate.

[Caged Great]

Originally Posted by Mr.Coffee

Right so basically, just hang onto my positions despite the panic tomorrow, and it should all come back eventually?

So the EU falls apart, can anyone make guesses on the implications of what that means? I guess I don't understand the big picture of what the EU really means.

Basically they have free trade agreements, sort of the same way as the United states has inter state commerce. That way you don't have to change currencies and go through most of the hurdles that were there before. It basically allowed people easier access to travel and move around the continent. However, this sparked some racial tensions, much like the Trump supporters in the USA against the Mexicans, and that's the main reason why they opted to vote for an economic calamity.

The trade levels between the countries won't stop, but rather they will slow down due to increased barriers. That smaller effect has a ripple effect that causes businesses to go under or shrink their workforce, sending people to the unemployment lines and causes productivity to decrease as a whole, which is what causes the recession. Depending on if the UK is alone in leaving or not, it may only be an isolated recession. If the EU collapses entirely, you're talking a 1930's style event in Europe.

[DuffMan]

It's like they voted for Trump.