Ireland

First The UK, Then Scotland... Then Texas?

That didn't take long. Only hours after the final results came in for a British exit from the EU, political leaders in Scotland are talking about renewing their drive to secede from the United Kingdom. While secession of American states is often dismissed as absurd, there are few reasons to believe that a state like Texas - to name just one example - could not immediately transition from state to nation-state. With a large economy, port cities, oil, and easy access to European, Latin American, and even Asian economies by sea, economics arguments against such a separation fall flat.

Brexit: All The Latest News, What Happens Next And How To Trade It

Sterling drops, banking stocks tumble and peripheral EGB and credit spreads widen after the U.K.’s vote to leave the EU; verbal and direct intervention by central banks help currencies off earlier lows. U.K. PM David Cameron has resigned, announcing there needs to be a new prime minister in place by October.

Key Brexit Question: Is Cameron The Biggest Liar In History?

Unfortunately, the battle is not over. A key question remains: Is Cameron an even bigger liar than we all know? Now that the vote is in, I fully expect all the other liars, notably French president Francois Hollande and German Chancellor Angela Merkel to propose a second vote with added sweeteners. Also note the Brexit vote is not legally binding. Cameron could easily resign, leaving this up to the next parliament to decide.

The European Union: Government By Deception

The benefits of the union flow to a select few countries, and to a select few within those countries. And ever fewer are selected as economic policies continue to fail. It is frankly beyond me to see why anyone would want to be part of that. It’s not about Boris Johnson or Nigel Farage or George Osborne, that is just more deception. It’s about being ruled by midgets, as Forsyth puts it...the very structure of the EU self-selects for sociopaths and/or worse.

With Or Without You? U2 Urges Irish Brits To Vote "Remain"

You know the establishment is paniccing when they roll out Bono (and Liam Neeson) to appeal to the Irish (which make up around 10% of the UK electorate) to vote "Remain" or face "the worst ramifications." As The Irish Times reports, U2 warns "a Brexit vote will make us weak," suggesting a vote to 'Leave' would mean Thursday bloody Thursday and a vote to 'Stay' would be a Beautiful Day.

Frontrunning: June 22

  • Nervy global investors revisit 1930s playbook (Reuters)
  • Stocks Trade Near Week High Before Brexit Vote; Commodities Gain (BBG)
  • Yellen May Face Tougher Crowd in House Appearance (WSJ)
  • In SolarCity Bid, Tesla’s Musk Targets Customers Wanting All (BBG)
  • Trump to detour from campaign to visit Scotland golf properties (Reuters)

Greeks Send An Open Letter To UK Citizens About Brexit

Dear friends of democracy in the UK,

We want to express our solidarity as we know that you have to take a historical decision for your country and for your people, as we did last summer. On 23rd June 2016 you will have to decide in a referendum on the United Kingdom’s membership of the European Union. A referendum is a direct democratic element, the highest expression of the peoples will, a privilege and a rare opportunity in the European Union.  You have now the historical chance to mark your national independence day and stop the further transformation of Europe into a European dictatorship.

European Peripheral Bond Risk Explodes: Forget Brexit, "Now It's Italy's Turn"

If there was any doubt that Brexit was "relevant" then the surges in European peripheral bond risk, despite massive bond-buying by The ECB, should send shivers up and down the status quo huggers that are shrugging the referendum decision off because "central banks will provide liquidity." However, it's not just The UK that EU officials need to worry about, as The Globalist notes, Germany will have to change its policies if it wants to avoid exit of other countries from the eurozone.