Explain me to the best of your knowledge on the Brexit /Biz/. I trade Forex and think I could make a good play on the vote.
Short term economics: unstable, gold will rocket, (?) minor financial crisis
Long term: Better trade agreements, better UK industry, Brexit will be followed by Nexit etc etc, better for the economy
Culturally: UK will have it good compared to today
>>1301381
You're not the only one who thinks they can make money on the Brexit. Odds are, if you don't understand it fully now, then you'll probably be on the losing end of the trade come June 23rd. There's a movie on youtube called Brexit: The Movie which is pretty good if you want to know why the "leave" vote is increasingly popular.
>>1301381
There's no way for the UK to leave the EU.
Even if people will support the Brexit the referendum itself is not legally binding. For Brexit to actually happen it needs to pass the Parliament and the majority of British MPs (about ~70+% of them) are pro-EU.
Literally no one will allow it to happen. American and European political and business elites are against it. Votes will be adjusted, if needed.
Scottish independence referendum failed.
Catalonian independence referendum failed.
Brexit will fail.
Don't be delusional.
Immediate European recession
EU will crash and burn which would hurt UK trade
Lots of business in the UK will pack up and move to Ireland to stay in the EU
>>1301542
Referrendums don't need to go through parliament.
>>1301403
How will gold skyrocket?
>>1302273
The instability of paper currency leading to people valuing something (theoretically) more stable.
So basically if I think UK majority votes leave I should put sell orders on the affected currencies and a buy order on gold?
>>1302273
gold are the counter weight of fiat currencies. silver aswell. If confidence in market falls, gold/silver rise. Cant print gold. Check historical charts and see
>>1301381
How are pounds flowing when compared to euros? The UK seems to have a more solid internal account balance than the euro zone as a whole. Also, how much of an impact the flow of business from the UK to the EU is going tho have in the respective external account balances?
>Better trade agreements
You know that's not true
I'm from Latvia and am holding most of my funds in EUR. How should I prepare? Should I diversify into USD? What is best course of action right now?
>>1305270
Yen is the go to currency when there is a risk off sentiment.
>>1301403
>better trade agreements
"H-heh France sorry for not supporting your little EU thing heh, mind giving me a realllllly good deal on trades?"
>>1305270
Usd and yen are traditional counterweights. Yen is overbought so it might be pricey.
