BREXIT RULES! The Consequences | Page 23 | Forex Factory

Options

Go to
Permalinks
Print Thread

Similar Threads

Strategies Follow Rules, But Rules Are Made To Be Broken 1 reply

Consequences of the Dodd-Frank Wall Street Reform for forex traders 16 replies

Rules .. where are the Rules located 7 replies

Trade what you have, take responsibility, and enjoy the consequences 10 replies

Underleverage and the consequences 8 replies

Attachments: BREXIT RULES! The Consequences
Exit Attachments

BREXIT RULES! The Consequences

  • #441
  • Sep 28, 2016 9:22am Sep 28, 2016 9:22am
Quoting Kubez
Looks like Apple are not too worried about Brexit.... Wonder why they chose UK over EU.

Apple’s European HQ is in Cork, Ireland, and when I last checked UK was still a European country.

In Ireland, where it established its first operations in 36 years ago, it currently employs 5500 people.
Only the UK has more Apple employees than Ireland, (6500)
This is mainly due to its 37 UK Apple retail stores, which employ an average of 100 retail staff per store (3700 shop workers)

Source:Apple.com
  • #442
  • Sep 28, 2016 9:42am Sep 28, 2016 9:42am
Quoting Kubez
Looks like Apple are not too worried about Brexit. http://www.standard.co.uk/news/london/revealed-apple-to-create-stunning-new-hq-at-battersea-power-station-a3356201.html Wonder why they chose UK over EU.
Apple is a forward looking company.

Mayor Sadiq Khan said: “I’m delighted Apple is moving into Battersea Power Station, helping to generate new jobs and economic prosperity for London.
“It is a further sign London is open to the world’s biggest brands and the leading city for trade and investment.”
(AND HERE IS SOMEONE WHO WAS AGAINST BREXIT)

Chancellor Philip Hammond said: “Apple’s decision further strengthens London’s position as a global technology hub and demonstrates how the UK is at the forefront of the next steps in the tech revolution. It’s another vote of confidence in the UK economy.”

It’s another vote of confidence in the UK economy.”
  • #443
  • Sep 28, 2016 10:34am Sep 28, 2016 10:34am
Quoting Sniper2000
{quote} Apple is a forward looking company. Mayor Sadiq Khan said: Im delighted Apple is moving into Battersea Power Station, helping to generate new jobs and economic prosperity for London. It is a further sign London is open to the worlds biggest brands and the leading city for trade and investment. (AND HERE IS SOMEONE WHO WAS AGAINST BREXIT) Chancellor Philip Hammond said: Apples decision further strengthens Londons position as a global technology hub and demonstrates how the UK is at the forefront of the next steps in the tech revolution. Its...
Quite right, mate. 100%.
My response to @kubez is solely in response to sloppy research and propagation of partisan and misleading perspectives.

If as a country, we are to prosper, as traders we are to succeed, as analysts we are to understand the market,
Then we better stop seeing the world and our countrys challenges through rose coloured glasses,
and realise that we have created a shed load of problems for ourselves as a result of our perfectly legitimate Brexit decision.
Deal with them and and stop Whistling in the Dark.
  • #444
  • Edited 11:43am Sep 28, 2016 11:11am | Edited 11:43am
To put that "Shed Load of Problems" into context.. read this summation written in the Economist some months before the referendum...

FACTS, just facts. Like Charles Dickens's Mr Gradgrind, many voters simply want some objective information on whether Britain would be better off in or out of the EU. The problem is that it is impossible to know the answer for sure, not least because we cannot know what kind of trade deal Britain would be able to strike. Any deal will involve trade-offs - between access to the single market and ability to control immigration, for example. We can't know what deal the EU will offer and what a chastened government (its advice will have been rejected by the electorate) will agree to accept. That is one reason why the two campaigns will be swapping contrary statistics for months after the result is know ..(should the vote be for Brexit)

That said, reading the rest of the article ..
TRADEOFF BETWEEN SOVEREIGNTY AND ECONOMICS
http://www.economist.com/blogs/buttonwood/2016/03/brexit-debate
may be interesting for some....

Unless of course you are a Goveite (ie Intellectual Luddite) and think that we shouldnt consider analysis from people who migh have a little more knowhow in the area than we have may have.
  • #445
  • Sep 28, 2016 5:40pm Sep 28, 2016 5:40pm
Quoting cliffedwards
{quote}My response to @kubez is solely in response to sloppy research and propagation of partisan and misleading perspectives.
Cliff, you are wrong, it was not sloppy research, because it was not researched at all. I do not see why you say I am propagating partisan and misleading perspectives (which is a bit rich coming from you Cliff "they are all thick racists" Edwards). I just saw it in my news feed and passed it on as I see it as a consequence that Apple has decided to continue with this investment regardless what happens with Brexit. Actually I have just read another article and it says they are just consolidating their UK office employees to a new building, so not really expanding anything although they might. Interesting to note the Guardian article did say, "The deal follows Google and Facebook signing up for similarly large developments in London. Google is building a campus in Kings Cross while Facebook will occupy offices off Oxford Street."

I was going to post the story about Honda making the UK their global HQ for the Civic, which was announced recently but did not bother, so I thought I would drop the Apple thing after hearing the mayor mention it.

Thanks for the Economist link Cliff, makes interesting reading as did the comment section.

I don't think many that voted out did not expect the economy to take a hit. I see the currency taking another battering if Art. 50 gets signed, which could have been avoided if Cameron kept his word and trigger Art. 50 like he said he would.

Personally I would be more worried about Deutsche Bank than Brexit right now.

Cliff I know you are joking about the Gove thing but I suspect that he is intellectually superior to you and I, wretched creature or not.
  • #446
  • Sep 29, 2016 6:40am Sep 29, 2016 6:40am
Quoting Kubez
{quote} Cliff, you are wrong, it was not sloppy research, because it was not researched at all. .
OK
Quoting Kubez
{quote}I do not see why you say I am propagating partisan and misleading perspectives (which is a bit rich coming from you Cliff "they are all thick racists" Edwards)
You need to make direct quotes when you make this sort of allegation. Really.
Quoting Kubez
{quote}Thanks for the Economist link Cliff, makes interesting reading as did the comment section. I don't think many that voted out did not expect the economy to take a hit. I see the currency taking another battering if Art. 50 gets signed, which could have been avoided if Cameron kept his word and trigger Art. 50 like he said he would. Personally I would be more worried about Deutsche Bank than Brexit right now. Cliff I know you are joking about the Gove thing but I suspect that he is intellectually superior to you and I, wretched creature or...
DB.Yep.. that is potentially v serious.
Yep.. I must agree that Gove has a high IQ.. But not a high EQ.

Thks for your measured response. LoL
Cheers
  • #447
  • Sep 29, 2016 5:25pm Sep 29, 2016 5:25pm
This is not researched either so feel free to interpret it yourself.

https://www.ft.com/content/53bc5cec-8660-11e6-a29c-6e7d9515ad15
  • #448
  • Oct 3, 2016 12:59pm Oct 3, 2016 12:59pm
Brexit at any Price

When we commit to fundamental business personal or family decisions its customary, in my world at least, to make such decisions with some idea about the cost and consequences of such decision. On 23rd of June last as a nation we took an irretrievable step in declaring what we DIDnt want. But a step in the dark without knowing what we did, and without any clear idea of its cost. We took that decision based on promises and undertakings that have since proved in key respects, to have verged between the unreliable and the downright fraudulent. But we took it and though not legally binding our decision is politically irreversible.
Since then thanks to the fortunately fast accession of Teresa May into the vacuum created by Camerons resignation the political situation has stabilised and given us a chance to take stock and see just what we've bought into.

Since then theres been a lot of noise, conflicting interpretations and even challenges to the democratic basis of the Leave decision.
But for the most part like good little Englanders we've respected the vote and waited for our political masters to advise us of just how our decision will be implemented.
As a first step in clearing the noise, we've been fortunate to have our Ruling Party's Annual Conference scheduled in the last few days, which presents the Government with the ultimate opportunity to do that. Unfortunately what has emerged has been little more than repetition of the Prime Ministers calming but meaningless, mantra "Brexit means Brexit". And a date next year, on which the Article 50 will be triggered. Oh yes, and a meaningless priority being given to an administrative bill not required for at least 30 months, and announced as The GREAT REPEAL BILL". But nothing that's answered the legitimate concerns of business and industry, of manufacturers and the City about the Governments vision for Post Brexit Britain. Just the predictable political rhetoric none of which stand up to pragmatic scrutiny.
The only significant position that has been confirmed is that the UKs basic Red Line issue is repeal of the FoM facility. Unfortunately since Mrs May already knows that its retention is also a non negotiable treaty bound Red Line precondition to any favourable access to the EU Single Market, as Switzerland has just discovered, she has effectively ruled out all existing templates (Norway/Swiss/EEC models) which leaves us with a WTO Hard Brexit. And this has made industry even more concerned, and driven the GBP to near all time lows again.

In my view what industry and business are seeing are three unsavoury realities emerge from all the double talk..

  1. Without a template, the UK is has effectively painted itself into the Hard Brexit corner, and that there will be little opportunity for compromise because of the vetos and collective majority approvals required for any favourable settlement collectively with the 27 other Member States. In fact IMHO getting anyone to agree to anything will turn out to be a nightmare.
  2. That the process of even beginning negotiation of NEW trade arrangements with Australia China India etc will be also a huge problem until after 2019, since the current arrangements with these countries are already covered by the 50 odd External Trade Agreements they have already concluded with the EU, and there is no guarantee that they can even be "taken over" since I doubt these countries will concede similar conditions to continued access to a market of 65m as they did to one of 500m.
  3. And finally and most worrying to my mind, is that the timescales, complexity and resources required for these processes have been hugely underestimated. There is a an astonishing naivety abroad, about the complexity and duration of negotiation in concluding bilateral trade deals, in which tariffs are most often the least part and non tariff barriers the largest element of.

Its my fear in this light, that we may face not a six months or 2 years period of uncertainty and instability for business the economy and investment, but a decade.
The burden of which which must impact seriously on our jobs prosperity and living standards across the UK for a generation.
And if THAT is the COST of Brexit....
..it MAY be one that also deepens the social, economic, educational, generational and national divides in our society that the Referendum result exposed.

I hope not.

  • #449
  • Oct 3, 2016 2:12pm Oct 3, 2016 2:12pm
I begin to wonder. Japan comes into my mind. The country is like UK, but with population about twice the size of UK.

The economy is not growing. But JPY is very stable for any market shock.

I would like to know what people think in comparing UK to Japan.
  • #450
  • Edited 3:16pm Oct 3, 2016 3:04pm | Edited 3:16pm
Cliff, you have talked about the costs and consequences above.

One thing I cannot figure though is what are the costs and consequences to you. I understand you are an expat and it seems you are of an age were you either have a public or private pension. Therefore you neither live in the U.K. nor do you require employment here.

So I am confused, short of securing permanent residency in sunny Spain - why do you actually care? And what consequences will you endure if your dire predictions of the UK turn out to be true.
  • #451
  • Edited 12:24pm Oct 5, 2016 11:14am | Edited 12:24pm
ONLY A FOOL...

The UK electorate are not fools.
On June 23rd they took a decision to "BUY" Brexit based on the best information they had been provided, as it impacted on their lives, and their rights as citizens. The important indisputable fact is that that a majority bought the Leave option.
Maybe having listened to both sides, you bought "Remain" or maybe you were in the majority that bought "Leave".. It doesnt matter. Leave won the plebacite.Thats Democracy. And since there is no "Sale of Goods Act to protect us against Political Miss-Selling or to allow us to sue Farage/Boris/Gove as we can even the Banks for Miss-Selling we must accept that.

HOWEVER.. Everything that we buy or sell in life has a PRICE. A COST?
You dont buy a car or a house or a pension or a cup of coffee without knowing the PRICE/COST.?
Sure we got "estimates" But thats ALL they were. Estimates, from people that have since almost unanimously run away from what they "QUOTED"

If you were asked to contract to "BUY" anything on that basis I think unless you are a fool youd say ..
WTF????? "You think Im a FOOL? "
And yet thats what we are being asked to do here.

We have chosen Brexit, bought the "Leave" option, without knowing WHAT we are BUYING? Or WHAT THE COST/PRICE IS.
And with NO OPPORTUNITY TO ROLL BACK THE COMMITMENT IF THE COST?PRICE IS TOO HIGH??
Does NOBODY realise how INSANE that is?
IMHO, unless the Government offers the British people the opportunity to APPROVE of the price/cost BEFORE the final break,
which we dont know now but will know in just over 2 years, then this has to rank as the biggest SCAM in the history of modern Democracy.
  • #452
  • Oct 5, 2016 4:25pm Oct 5, 2016 4:25pm
Quoting cliffedwards
ONLY A FOOL... The UK electorate are not fools. On June 23rd they took a decision to "BUY" Brexit based on the best information they had been provided, as it impacted on their lives, and their rights as citizens. The important indisputable fact is that that a majority bought the Leave option. Maybe having listened to both sides, you bought "Remain" or maybe you were in the majority that bought "Leave".. It doesnt matter. Leave won the plebacite.Thats Democracy. And since there is no "Sale of Goods Act to protect us against Political Miss-Selling...
I totally agree with this. the elites have lined up a load of buffoons who will do their dirty work and believe it, brace, prepare, yourself.
  • #453
  • Oct 6, 2016 6:00am Oct 6, 2016 6:00am
Quoting cliffedwards
HARD BREXIT.
Looks like its heading that way Cliff.

Not to worry, no problem at all:

It was spelled out by the upper echelons of the pro-Brexit Tory government in their conference this week that the UK is “well placed as a global trading nation”!
They backed that up by stating the following: “we sell tea to China, TV aerials to Korea and, my friends, we export French knickers to France!” also “wine to France, and boomerangs to Australia”. “Coffee to Brazil”, “Naans to India” and “Bottled English countryside air for up to £80 a go” (WTF).

Give me a break!

When Nissan moves it’s Sunderland car plant elsewhere in the EU I wonder if that loss in revenue for the country will be dwarfed by a few dozen boomerang sales in Australia? Perhaps not, maybe the “naans to India”, oh hang on, no it’s just a baker in Dunstable invested in a factory just outside Mumbai.

Maybe we could demolish the car plant and grow grapes to produce more of the world’s ”best” wine, to export to France. Oh maybe not, the EU will probably slap on some duties to make it uncompetitive. Hang on not to worry, I am sure places like Australia (with no wine industry to speak of, lol) would love to buy shiploads of English wine!
Oh Sh!t!
Everything will be okay in the end. If it's not okay, it's not the end.
  • #454
  • Edited 1:57pm Oct 7, 2016 1:43pm | Edited 1:57pm
Quoting eurotrash
Second referendum, what a joke. You can't change the rules after the fact just because you don't like the result. You can sign the petition all you like, but you lost the referendum, the country voted out, and that's that. .
Quite right. 100%

However neither I nor the rest of the voters whatever way the voted are FOOLS.
So dont treat us a such.
We didnt vote BREXIT to make us POORER, MORE DIVIDED or a give our Government the mandate to turn our country into a xenophobic FASCIST STATE?

WE voted for BREXIT on the terms promised.
You are now telling us that if we find the terms promised turn out in 2 years time,
to have been LIES, FRAUDS, SCAMs that you want to deny us the Democratic Right to say STOP.
THIS IS NOT WHAT WE VOTED FOR?
I dont think so. Neither does the Chancellor of the Exchecquer Hammond..
QUOTE: "People did not vote on June 23rd to become poorer or less secure.”
  • #455
  • Oct 9, 2016 1:20am Oct 9, 2016 1:20am
Quoting frx_trader
I begin to wonder. Japan comes into my mind. The country is like UK, but with population about twice the size of UK. The economy is not growing. But JPY is very stable for any market shock. I would like to know what people think in comparing UK to Japan.
Japan is very stable for any market shock because, in my opinion, Japan's central bank is more willing to interfere with the market with their monetary policies. UK is relatively less so as they also need to pay close attention to what their EU neigbours like Germany and France are doing as well as the monetary polices of U.S. and sometimes this makes UK less willing to make moves.
  • #456
  • Edited 7:24pm Oct 9, 2016 10:49am | Edited 7:24pm
The UK democratically voted to leave the EU. The EU did not vote to kick out the UK.
The EU is based on 4 freedoms. Freedom of Capital of Goods of Services and of Movement.
The UK electorate has democratically rejected that.
and since the EU is NOT based on " Pick-and Mix". Looks like a Hard Brexit is inevitable..
  • #457
  • Oct 10, 2016 9:17am Oct 10, 2016 9:17am
"The pound is the joint-142nd weakest currency for the year to date, according to a note from Deutsche Bank written on Monday morning, beaten only by Angola, Sierra Leone, Nigeria, Venezuela, Mozambique and Suriname"
This cannot be a good thing surely!
Everything will be okay in the end. If it's not okay, it's not the end.
  • #458
  • Oct 10, 2016 12:58pm Oct 10, 2016 12:58pm
Quoting cliffedwards
ONLY A FOOL... The UK electorate are not fools. On June 23rd they took a decision to "BUY" Brexit based on the best information they had been provided, as it impacted on their lives, and their rights as citizens. The important indisputable fact is that that a majority bought the Leave option. Maybe having listened to both sides, you bought "Remain" or maybe you were in the majority that bought "Leave".. It doesnt matter. Leave won the plebacite.Thats Democracy. And since there is no "Sale of Goods Act to protect us against Political Miss-Selling...
I believe lot of negative hype about Brexit is exaggerated.What is the cost? Well what is the cost for having your own country back! In short term maybe hard but looking 5years ahead great.
Lets see what may happen in Euro zone in 5years.
Greece goes bankrupt again and asks more bail outs
Spain ,Italy.Portugal,Ireland accumulating more debt and suffering more unemployment and no growth on verge of collapse.
So we got 5 countries that are severe liabilities and only Germany doing ok however this is when Germans will throw in the towel and declare they had enough of BS called EURO if they have to be bailing out country after country with staggering recessions and unemployment.
With this context UK would be just fine! Glad that they got out of this mess called Euro zone bureaucratic choke-hold.
In trading, you have to be defensive and aggressive at the same time
  • #459
  • Oct 10, 2016 1:07pm Oct 10, 2016 1:07pm
Quoting Davit
{quote} I believe lot of negative hype about Brexit is exaggerated.What is the cost? Well what is the cost for having your own country back! In short term maybe hard but looking 5years ahead great. Lets see what may happen in Euro zone in 5years.
I agree. If I had to choose between Merkel and UK. I'd definitely have chosen UK. Now than ever EU needs UK. To prevent EU from turmoil. I hope Merkel realize this, then try to save her ego.
  • #460
  • Oct 11, 2016 1:59pm Oct 11, 2016 1:59pm
Brexit means Brexit?

July BBC/ComRes poll, 66 per cent of respondents considered “maintaining access to the single market” to be more important than restricting freedom of movement.

In an ICM poll the same month, only 10 per cent of respondents said they would prioritise ending free movement over maintaining access to the single market, while 30 per cent viewed the two as equally important and 38 per cent considered maintaining full access to the single market the priority.

But Hey.. Brexocracy as preached by the Leave Campaigners and the Government requires that we as UK Citizens , should have NO opportunity to decide WHAT PRICE WE PAY for our preference.

And worse... that the Parliament of the United Kingdom, the SOVEREIGN and ONLY legal source of Law in the UK should be EXCLUDED from the exit process.

This is DICTATORSHIP.
0 traders viewing now