The Contrarian

“In the investment markets, what everyone knows is usually not worth knowing.”

Brexit – “Independence Day For Britain!”

 

A Vote For Freedom–The Important Global Implications

 

The people of Britain voted to leave the EU dictatorship, along with it’s huge, wasteful, and excessive bureaucracy. We congratulate them. They declared “Independence.” It was like the Magna Carta v2.0.

The question many are asking now is: Over the next 5-10 years, will Britain be better off on a lifeboat by itself, or on board the EU Titanic when it sinks? Our view is that they will be far better off without the EU after 10 years.

Of course, there are problems. Such an important step causes turmoil and uncertainty. As the saying goes, ‘you have to break some eggs to make an omelet’. They broke the eggs…now let’s see what kind of omelet they make.

However, instead of just focusing on the one event, we should look at the long-term implications for the rest of the world. We are seeing a global wave moving away from the establishment and the ruling class and towards freedom for the individual and independence. All over Europe, the political parties who are advocating this are becoming very popular. This is now the big macro trend of the future.

Britain needs a leader like Nigel Farage. He has been mercilessly criticizing the EU’s elite governing body for years. He previously worked as a market trader and knows the interconnected relationships between markets and economies. He would be a great leader.

Scotland had a referendum in 2014 on whether to leave the UK. At that time, they decided to stay. But Scotland voted overwhelmingly to stay in the EU, and will now have to leave with Britain. Therefore, Scotland may have another referendum to try and leave the UK and stay in the EU by itself.

After the British referendum vote, French President Hollande held a meeting with the top political leaders. Ms. Le Pen, who is in favor of France leaving the EU and will be a presidential candidate next year, was also invited. After the meeting, she said that there was a clear strategy to make Britain’s exit painful in order to set an example to others that may want to leave. “It is clear that some people want the divorce to be as painful as possible so that others don’t get the idea of going down the same road as the British.

The French Economy Minister Emmanuel Macron called for a new European project to make the block “much more transparent and democratic”, and said that it should be put to citizens via a referendum. “We have never had the courage to organize a real European referendum.”

So many financial analysts and pundits in the US blindly say that the Brits voted wrong. They don’t know the facts. The European Commission, which proposes European Law, is undemocratic. Neither its lawmakers nor its 85,000 highly paid bureaucrats (only 3.6% of whom are British) are accountable through the ballot box. Imagine that huge number of bureaucrats.

The British Daily Mail has an enlightening article that said “And though we do less than 10 percent of our total business with the EU — with 80 percent of our trade being within the UK — every firm in the country must submit to its throttling red tape”.

A survey earlier this year by Pew Research, the highly respected U.S. think tank, found that 61% of the people in France had unfavorable feelings about Brussels, as did 71% of Greeks and 48% of Spaniards. Even in Germany, whose exports have benefited greatly from the weak euro, 44% were against the EU.

At least 10,000 EU employees are paid more than David Cameron.

It was Tony Benn who said in the last referendum in 1975 that Britain was signing up for something that was truly undemocratic and will run in the interests of elites. “I can think of no body outside the Kremlin that has such power without a shred of accountability” he stated.

Read more: http://goo.gl/ehDzJG

Former Prime Minister of Britain Tony Blair said some time ago that “the EU project is no longer about peace, but about power”.

An excellent analyst, Mish Shedlock, writes:

Germany exports €50,963,643 more to the UK than it takes back in imports. Clearly, Germany would suffer far more damages than the UK were both sides to remain stubborn. It would behoove those cheering Merkel to take this into consideration.

The EU really ought to start over. It was supposed to be an organization that broke down trade barriers, not build walls.

But EU rules were so stupid, the UK wanted out. Instead of making more ridiculous demands on the UK and building more walls to stop trade, the EU ought to think about what is happening and why.

Sadly, EU “Nannycrats” are incapable of intelligent thought on trade (and everything else as well, especially immigration).

Thanks to the stubborn stupidity of nannycrats, now led by Queen Merkel to the rousing applause of fools who don’t understand trade, there is a very real risk of a global depression.

The French president, Germany’s Angela’s Merkel, and EU Head Jean-Claude Junkers are talking about punishment of Britain. They will now do everything possible to prevent others for seeking their own freedom.

If you want to know more about Junkers, watch this video. It’s better than a thousand words: https://www.rt.com/news/345474-junker-riga-drunk-speculation/

If that is going to be the path of the EU, it will surely crumble. Merkel was instrumental in the Brexit as her vow to let a million “migrants” into the EU was not something the Brits and others wanted. Many Germans want her to resign before she does even more damage. Why wait until the voters throw her out?

A better path then “being tough with Britain” would be to fire the top commissioners and the current president of the EU and change the EU into what it was supposed to be originally. They would be able to fire the majority of the 85,000 bureaucrats. The EU is a dictatorship. No one is elected, and no one is accountable. Of course, those people won’t give up power voluntarily.

The breaking point was when the EU’s dangerous policy to let in millions of people from very poor countries, including the Middle East, without any vetting or stipulations. It would swamp the welfare systems of EU nations. It’s estimated that it would take the average ‘migrant’ ten years to be able to get off of welfare.

Turkey has over 75 million people. It wants EU membership, although 97% of its landmass is in Asia. Turkey also wants $3 billion per year from the EU for potentially reducing the number of Middle Eastern migrants passing through Turkey on their way to Europe. And then they insisted on having Visa-free entrance to Europe right now for all Turks.

No wonder European citizens, who value their country, are Fed up with the elites within the EU governing body.

A real experience is to listen to the speeches of Nigel Farage, a British Member of the EU Parliament. Google this:  Nigel Farage, youtube.