Boris Johnson Emerges, Explains What "The Only Change" As A Result Of Brexit Will Be

" The only change – and it will not come in any great rush – is that the UK will extricate itself from the EU’s extraordinary and opaque system of legislation: the vast and growing corpus of law enacted by a European Court of Justice from which there can be no appeal. This will bring not threats, but golden opportunities for this country – to pass laws and set taxes according to the needs of the UK."

Another Sexual Assault Gets Refugees Banned From Pools In Austria

Following an incident involving a "foreigner" and a 13-year-old girl, the mayor of Mitselbach temporarily banned all refugees from attending the swimming pool. The authorities put a poster next the pool entrance reading “Today no entry for refugees,” and two guards were hired to patrol the premises. “This decision was not easy, and I take responsibility for it,” the mayor said. “The ban on asylum seekers from the swimming pool is temporary, until the security is in place,” he added.

Capital Flight Chaos - Safe Havens Are Tiny Markets

There's a preponderance of data that shows the world's major asset markets are dangerously overvalued. And when these asset bubbles start to burst, the 'save haven' markets that investment capital will try to flee to are ridiculously small. Investors who do not start moving their capital in advance of crisis will be forced to pay much higher prices for safety -- or may find they can't get into these haven assets at any price...

"Trying To Wash Away Her Bad Judgement?" - Clinton Attacks Trump Following Brexit Results

Aside from the millions of UK voters who chose to regain sovereignty last week, one of the biggest winners of the Brexit vote is potentially Donald Trump. Trump's rise in popularity is in no small part due to the fact that people in the US are tired of the status quo, politics as usual nonsense, and Trump allows for an outlet to that sentiment. Well aware of this fact, and presumably concerned that Trump would be able to capitalize on the Brexit vote, the Clinton campaign is trying desperately to get past the fact that Hillary was on the wrong side of the vote as quickly as possible.

A Tale Of Two Asset Classes: Gold Miners Soar, Banks Crash

"...that’s credit bubble thinking. Banks are dominant forces in an economy only when that economy is creating an unhealthy amount of credit. When the process exhausts itself the banks tank, and terrified capital flows back into “primitive” safe havens. Like Friday..."

JPMorgan Lays Out "The Worst Case"

"Longer term the implications for markets could be more serious. Investor positioning during the euro debt crisis can be thought of as the worst case for markets in the current conjuncture.  It would require another 10% decline in global equity indices from here, for the equity weighting of non-bank investors in the world to return to euro debt crisis levels in a worst case scenario. Such a decline would also push the current bond allocation of 22% to above the 23% peak seen during the euro debt crisis."

Brits Lead Revolt Against Age Of Inequality, BofAML Favors "Gold, Vol, & Cash Positions"

Brexit is the biggest electorate riposte yet to The Age Of Inequality created by policymakers to save (some) of the world, and as BofAML's Michael Hartnett warns, investors must anticipate a shift to an increasingly populist policy response. The backdrop of Quantitative Failure nonetheless means a renewed bull market in risk assets is impossible unless fiscal policy can quickly arrest the downside in GDP & EPS forecasts.