UK pound plunges as referendum results point to EU exit

[Ricardo]

"Keep Calm And Carry On"

Should make for a wonderful summer, for tourists planning on going to the UK !

Not so good for UK-pensioners living over here.

[NeverSure]

The people who the elite say are dumb and uneducated rejected:

Unlimited immigration.

Control by the corrupt elites.

A globalist government that makes laws for them that they don't get to vote about.

A lack of sovereignty with outsiders telling them what they have to do and what they have to pay for.

This is a rebellion/revolution that's sweeping the West and only the elite can't see it until it punches them in the nose.

Cheers.

[thai3]

This was a referendum 'primarily' based on fear of immigrants if we're being honest.

Not a fear of immigrants just the understanding that recent levels of immigration were not sustainable, last year it was 500,000, that just cannot go on.

[Naam]

I can't get currency converter to give me pound versus baht right now, anybody have a quote

Pound Downed.

Powned

[JLCrab]

'Brexit' bombshell torpedoes global markets

Investors completely surprised by British voters' unexpected move to support "Brexit" sent global stocks plunging. USA Today 24JUN 2016 http://www.usatoday.com/story/money/markets/2016/06/24/brexit-bombshell-torpedoes-global-markets/86323890/

Sometimes life means dealing with the UN-expected, eh?

Edited June 24, 2016 by JLCrab

[Bunnychow]

Just wondering if any of the Brit expats living here knew that the pound would drop so substantially if Brexit won and converted and good chunk to baht before the referendum, just in case.

Yes...i am hoping for a 20 to 25% hit on the GBP when London opens...easy money to be made over the medium term...

do you really believe that London opening will have any effect on currency trading that goes on 24 hours during trading days?

We will see...as i said.."hoped" not "will"

[WinnieTheKhwai]

The immidiate next step by the EU will be to remove England, Wales and N. Ireland from the EUROPEAN Cup.

Contrary to popular belief, they're still geographically part of Europe, as well as members of UEFA.

[thai3]

Interesting side issue from a BBC reporter in Warsaw reporting shock there and worries for the 1 Million or so Poles in Britain and what will happen to their status, freedom to travel, education for their children and THEIR JOBS or in other words the money they earn and send back to Poland.

At least an end to claiming child benefit for kids never having even set foot in the UK

[Bunnychow]

This was a referendum 'primarily' based on fear of immigrants if we're being honest.

Not a fear of immigrants just the understanding that recent levels of immigration were not sustainable, last year it was 500,000, that just cannot go on.

Where do you think uncontrolled migration into Europe/UK would end up ?

Eventually civil wars going on when the natives get fed up with the uncontrolled migration and the powers in Brussels are too dumb to see it coming

[Jip99]

Interesting side issue from a BBC reporter in Warsaw reporting shock there and worries for the 1 Million or so Poles in Britain and what will happen to their status, freedom to travel, education for their children and THEIR JOBS or in other words the money they earn and send back to Poland.

At least an end to claiming child benefit for kids never having even set foot in the UK

Absolutely. No issue with anyone coming here to work and supporting themselves, but benefits to non-Brits should be stopped - unless someone can come up with a National Insurance Contributions system that incorporates a 10 year 'apprenticeship' ie pay in for 10 years (and continue to pay in) and then become eligible.

[CaptHaddock]

This was a referendum 'primarily' based on fear of immigrants if we're being honest.

Not a fear of immigrants just the understanding that recent levels of immigration were not sustainable, last year it was 500,000, that just cannot go on.

Where do you think uncontrolled migration into Europe/UK would end up ?

Eventually civil wars going on when the natives get fed up with the uncontrolled migration and the powers in Brussels are too dumb to see it coming

It would end up like the USA. Isn't that the whole point of the EU? There are no controls on immigration from Florida to Alaska. Seems to work ok.

[Gweiloman]

This was a referendum 'primarily' based on fear of immigrants if we're being honest.

Not a fear of immigrants just the understanding that recent levels of immigration were not sustainable, last year it was 500,000, that just cannot go on.

Where do you think uncontrolled migration into Europe/UK would end up ?

Eventually civil wars going on when the natives get fed up with the uncontrolled migration and the powers in Brussels are too dumb to see it coming

It would end up like the USA. Isn't that the whole point of the EU? There are no controls on immigration from Florida to Alaska. Seems to work ok.

Not really. The idea of free travel within the EU was meant for Europeans, not refugees, economic, political or otherwise.

[Bunnychow]

This was a referendum 'primarily' based on fear of immigrants if we're being honest.

Not a fear of immigrants just the understanding that recent levels of immigration were not sustainable, last year it was 500,000, that just cannot go on.

Where do you think uncontrolled migration into Europe/UK would end up ?

Eventually civil wars going on when the natives get fed up with the uncontrolled migration and the powers in Brussels are too dumb to see it coming

It would end up like the USA. Isn't that the whole point of the EU? There are no controls on immigration from Florida to Alaska. Seems to work ok.

Really...so how many migrants from Africa and the middle east have paddled across the Atlantic and beached their vessels in Florida lately..the US and EU are completely different geographically...once Turkey is allowed in the EU you will have large numbers of Turks and others from the middle east pouring into Europe looking for free handouts

Its happening already and people are too blind to see it

Edited June 24, 2016 by Bunnychow

[NongKhaiKid]

Switzerland and Norway are doing pretty well outside of EU , I am sure the UK will be able to enjoy their new freedom .

France, Holland and Denmark next.

Geert Wilders of the Dutch Freedom Party ha already said " now it's our turn. "

A snowball rolling down a hill comes to mind.

[Jip99]

'Brexit' bombshell torpedoes global markets

Investors completely surprised by British voters' unexpected move to support "Brexit" sent global stocks plunging. USA Today 24JUN 2016 http://www.usatoday.com/story/money/markets/2016/06/24/brexit-bombshell-torpedoes-global-markets/86323890/

Sometimes life means dealing with the UN-expected, eh?

The market reaction is totally EXPECTED.

[Bunnychow]

Switzerland and Norway are doing pretty well outside of EU , I am sure the UK will be able to enjoy their new freedom .

France, Holland and Denmark next.

Geert Wilders of the Dutch Freedom Party ha already said " now it's our turn. "

A snowball rolling down a hill comes to mind.

For once in my life I am going to support France in their efforts to bail the EU even though they are cheese eating surrender minkeys

[mommysboy]

I wanted to remain, but I can't see what the big deal is.

I don't understand why it spells economic disaster. Why is it any number of smaller economies do ok as sovereign nations, but a big economy like the UK can't? Why will the EU make trading difficult for UK, which is important to them? Likewise Britain won't be imposing tariffs on EU goods will they?

I guess we have to accept the Scots will want out the Union, that is likely to be the major disruptor, not the EU.

[JackThompson]

This was a referendum 'primarily' based on fear of immigrants if we're being honest.

Not a fear of immigrants just the understanding that recent levels of immigration were not sustainable, last year it was 500,000, that just cannot go on.

Where do you think uncontrolled migration into Europe/UK would end up ?

Eventually civil wars going on when the natives get fed up with the uncontrolled migration and the powers in Brussels are too dumb to see it coming

It would end up like the USA. Isn't that the whole point of the EU? There are no controls on immigration from Florida to Alaska. Seems to work ok.

If civil wars ever got close to starting, the rest of the Transnationals' "Chinese Model for Fun and Profit" would be imposed on the "evil nationalists," in due course. Whatever it takes to exterminate high-wage nations from the face of the Earth.

The USA's federal, state and local budgets, plus 100-Million+ Americans' wages, are being demolished by immigration polices set by traitors in Washington DC - much as polices out of Brussels were destroying the infrastructure in Britain. And once the budgets are blown, the "Austerity" fun can begin.

The Brits and US-States had one thing in common during this engineered scheme - neither had the power / authority to stop the bleeding. The Brits have re-asserted their rights.

US-States cannot secede from the USA, but a national-win in November could start us on the path to recover our severely-damaged social-services infrastructure and once-high standard of living. A new Brit/US trading agreement might be on offer, depending on the result in November. This would be a good match, given both are in "recovery mode" from the treacherous damage done to our respective nations.

BTW, the Dollar is up a bit on the Baht - so it is a good time to make an xfer.

[SantiSuk]

Just wondering if any of the Brit expats living here knew that the pound would drop so substantially if Brexit won and converted and good chunk to baht before the referendum, just in case.

Yes...i am hoping for a 20 to 25% hit on the GBP when London opens...easy money to be made over the medium term...

do you really believe that London opening will have any effect on currency trading that goes on 24 hours during trading days?

We will see...as i said.."hoped" not "will"

It already dropped by historically unprecedented levels in the last few decades (cable was lowest in 31 years) by about 8am this morning. I suspect you missed the boat!

[thai3]

It was 45 when I first came here in 1994, still better than that now, it will bounce back once all the panty wetting dries up

[CaptHaddock]

I wanted to remain, but I can't see what the big deal is.

I don't understand why it spells economic disaster. Why is it any number of smaller economies do ok as sovereign nations, but a big economy like the UK can't? Why will the EU make trading difficult for UK, which is important to them? Likewise Britain won't be imposing tariffs on EU goods will they?

I guess we have to accept the Scots will want out the Union, that is likely to be the major disruptor, not the EU.

57% of British exports go to the EU and 55% of imports come from it. Now that's all in jeopardy to an extent that's really hard to estimate. The Germans are likely to be punitive toward the UK just as they have been toward the Greeks who also threatened the union out of which the Germans have been the big winners.

So that's all in question. And for what exactly? To make sure there are no more Polish plumbers?

[JLCrab]

'Brexit' bombshell torpedoes global markets

Investors completely surprised by British voters' unexpected move to support "Brexit" sent global stocks plunging. USA Today 24JUN 2016 http://www.usatoday.com/story/money/markets/2016/06/24/brexit-bombshell-torpedoes-global-markets/86323890/

Sometimes life means dealing with the UN-expected, eh?

The market reaction is totally EXPECTED.

So those who were prepared in case the unexpected occurred are unexpectedly surprised at the unexpected results unless they were not in any way expecting the unexpected and made no provisions in case the unexpected occurred.

Edited June 24, 2016 by JLCrab

[ilostmypassword]

Switzerland and Norway are doing pretty well outside of EU , I am sure the UK will be able to enjoy their new freedom .

France, Holland and Denmark next.

Geert Wilders of the Dutch Freedom Party ha already said " now it's our turn. "

A snowball rolling down a hill comes to mind.

For once in my life I am going to support France in their efforts to bail the EU even though they are cheese eating surrender minkeys

I know what you mean. Remember when the French refused to believe George Bush's incontrovertible evidence about Iraq? I'm sure they felt very ashamed when they turned out to be correct. And just like the cowards they are, French troops are now in Africa battling Islamic militias. You sir, clearly are a student of current affairs. Just not on this planet.

Edited June 24, 2016 by ilostmypassword

[MissAndry]

57% of British exports go to the EU and 55% of imports come from it.

And yet, everything I buy in the UK seems to be imported from China, Asia, and Australia.

How can that be?

PS.

Tell me again what the UK exports to the EU?

Edited June 24, 2016 by MissAndry

[mommysboy]

I wanted to remain, but I can't see what the big deal is.

I don't understand why it spells economic disaster. Why is it any number of smaller economies do ok as sovereign nations, but a big economy like the UK can't? Why will the EU make trading difficult for UK, which is important to them? Likewise Britain won't be imposing tariffs on EU goods will they?

I guess we have to accept the Scots will want out the Union, that is likely to be the major disruptor, not the EU.

57% of British exports go to the EU and 55% of imports come from it. Now that's all in jeopardy to an extent that's really hard to estimate. The Germans are likely to be punitive toward the UK just as they have been toward the Greeks who also threatened the union out of which the Germans have been the big winners.

So that's all in question. And for what exactly? To make sure there are no more Polish plumbers?

Neither the UK or Germany will want to engage in a disasterous trade war. Both are heavily dependent on one another. I don't see the big deal at all.

I guess there will be big swings and roundabouts, but it will even itself out.

It's very bad for me I must admit, as it will be for all expats, but not for the UK I suspect.

Edited June 24, 2016 by mommysboy

[Bunnychow]

Switzerland and Norway are doing pretty well outside of EU , I am sure the UK will be able to enjoy their new freedom .

France, Holland and Denmark next.

Geert Wilders of the Dutch Freedom Party ha already said " now it's our turn. "

A snowball rolling down a hill comes to mind.

For once in my life I am going to support France in their efforts to bail the EU even though they are cheese eating surrender minkeys

I know what you mean. Remember when the French refused to believe George Bush's incontrovertible evidence about Iraq? I'm sure they felt very ashamed when they turned out to be correct. And just like the cowards they are, French troops are now in Africa battling Islamic militias. You sir, clearly are a student of current affairs. Just not on this planet.

I, sir was making a joke..you appear to be clearly lacking in a sense of humour...

[MissAndry]

Ignore these indicators, all a symptom of speculation and market uncertainties. Just have a cup of tea, it will all be OK.

In a matter of hours the Baht value of my State pension fell by 12% and more likely to come. I and others will need something a little more fortifying than a cup of tea i think.

Rice is cheap, learn to eat the local food.

[ilostmypassword]

Switzerland and Norway are doing pretty well outside of EU , I am sure the UK will be able to enjoy their new freedom .

Both Switzerland and Norway had to agree to abide by EU trade and immigration rules in order to trade with the EU. But, on the bright side, they don't get any say in what those rules turn out to be. Switzerland is heading for a crack-up with the EU when it's tough new immigration law goes into effect in 2017.

[NongKhaiKid]

Ignore these indicators, all a symptom of speculation and market uncertainties. Just have a cup of tea, it will all be OK.

In a matter of hours the Baht value of my State pension fell by 12% and more likely to come. I and others will need something a little more fortifying than a cup of tea i think.

Rice is cheap, learn to eat the local food.

I do eat rice but what's that got to do with having a cup of tea ?

[mommysboy]

I hope England don't kicked out the Eurovision song contest as an act of spite. Likewise UEFA. Maybe the Asian league will have us.