Image: Cristiano Betta, Flickr.
Fear and mass panic are known to among the most dangerous threats we face…
And absolute chaos could ensue for currency markets, if the warnings hold
true.
Tomorrow is the much feared Brexit vote, and on the eve of such a
momentous referendum that could lead to the dissolution of the European
Union, there is a great deal of worry as investors feverishly exchanged
‘safe’ currency in case of a destabilization of the British pound or the
Euro.
As RT reports:
Thousands of Brits have rushed to buy foreign currency during the
last week over fears the pound will drop more than 20 percent if the UK votes
to leave the EU.
The Post Office reports sales of currencies are 74 percent higher this
week than they were during the same week last year [note: where about 25%
of foreign currency exchanges are done in the Britain].
[…]
While many Brits have been steadily buying more foreign currency since the
start of May, others have been investing in gold bars and bullion
coins.
[…]
Market jitters over a potential Brexit have prompted some online money
transfer companies to suspend services temporarily on polling day…
The Post Office has allayed fears of a ‘run on the bank’,
reassuring Brits it is well stocked and will not run out of foreign cash.
The global basket of major currencies is already in a phase of potentially
major losses, as the dollar faces challenges by a rising yuan and the era of
the petrodollar could be coming to an end.
Major players from the banking and elite billionaire world have been
chiming in, warning of financial destruction if Brexit should succeed.
For his part, George Soros penned an op-ed eerily titled: “The
Brexit crash will make all of you poorer – be warned.“
Zero Hedge reported:
24 years later Soros is back, and this time he is warning against the kind
of devaluation that made him a billionaire and which he believes will be
unleashed by Brexit, when in a Guardian Op-Ed he wrote that U.K.
voters are “grossly underestimating” the true costs of a vote to leave the
EU, saying that there would be an “immediate and dramatic impact on financial
markets, investment, prices and jobs.”
He predicts that the pound would decline “precipitously”,
seeing a gargantuan drop of at least 15% and possibly >20% to below $1.15.
Considering it has now become trendy for analysts to come up with ever “doomier”
forecasts of just how low cable would plunge in case of Brexit, we are
surprised Soros stopped there.
[…]
It is notable that Soros’ warning comes just days after
that of Jacob Rothschild himself who said in another Op-Ed, this time for
The Times, that leaving the EU could lead to a “damaging and disorderly
situation” in the UK as he urged Britons to vote ‘remain’. Just like
Soros, Lord Rothschild, suddenly exhibiting a rare strain of humanitarian
concern, said readers should not “risk the wellbeing of our country”and
European countries are “better off together”.
He said that “at present we enjoy being a permanent member of the UN
security council and we are essential to the G8 and Commonwealth. But
diplomacy, defence, the environment and our values of being a liberal
democracy will all be at risk” adding that “I can see no good reason why we
should accept our playing a diminished role on the world stage,” especially
if his own personal fortune would be jeopardized.
Though they are clearly biased, and almost certainly casting fear and doubt
in the hopes of preserving the elite-crafted EU structure, they are poised to
make new fortunes by exploiting such a split at the expense of the people
caught in the middle.
The referendum polls for the Brexit vote are very close, and it is being
considered to close to call.
Better prepare your holdings just in case there is an upset in currency
stability.
Read more:
Bankers Threaten Brexit “Chaos, Fear and Emergency Measures”
But Threat of Collapse Already Exists
Bilderberg’s Elite Worried About Disintegrating EU: “Brexit
Possibility Extremely High”
Sensational Murder of MP Leads to Suspension of Brexit
Campaign, “Vote in Limbo”
Is Silver Really “Poised to Catch Up To Gold” As Economic
Crisis Looms?
