I have been watching a live stream of the BBC, and they just called the election for 'Leave.' The most repeated phrase of the evening from the professional class has been 'this is a wake up call.' The politicians are shocked, shocked that the people have rejected the advice, arguments, and warnings of 'the experts.' They never saw this coming. Gold is trading at 1350, silver at 18.20, the SP stock futures are down 76 points, and the FTSE futures are down 8%. The map below shows the support for 'Remain' was centered primarily in the southeast which is London and in the north in Scotland. The huge majority for 'Remain' in Scotland raises the prospect of another referendum in Scotland for independence in order to remain in the EU. I wonder if the professional establishments of the West will continue to misjudge the depth of the dissatisfaction of the public, counting on their complacency to maintain the status quo. The November elections in the US may be another interesting situation to watch closely.
