Wednesday, June 15, 2016

As financial analysts predict Brexit to be the next Lehman event, British metals dealers see rush into gold

There are uncountable consequences being predicted should Britain choose to leave the European Union, and separate themselves from the continental trade coalition.  Some of these include effects on the Pound, the Euro, on the validity of current trade agreements, and on potential losses should the European Commission choose to nullify their favored nation status.

But even more, some analysts are forecasting that a Brexit could trigger the next 'Lehman event', and put much of the global financial system at risk.

Q: What would happen if Britain voted to leave the EU? 
A: It is not Lehman in the short term in terms of markets being in a panic or chaotic mood, because the central banks will try to pacify that. But it is more significant than Lehman in its longer-term impact on global growth. Through trade and investment channels, there will be a downward impact on growth. 
Q: Isn't it just a European issue? 
A: It's not just a vote for the U.K. exiting Europe, it is a symptom of the discontent and unhappiness of citizens with the status quo. They want change, but nobody can articulate what is it that they want. The impact in an exit vote of "leave" winning would be very far-reaching and impact long-term events. Near term there would be significant adjustment in financial markets. - Bloomberg
Because of these fears, a London gold dealer is predicting that a yes vote for a Brexit would cause a panic into the precious metal, and they could see upwards of £10 million pounds of online purchases in a single day.
A  gold dealer has predicted that a decision to leave the European Union would prompt an online gold rush, generating sales of around £10m in a single day for his company, as investors seek to protect their wealth. 
BullionByPost, Britain's biggest online gold dealer, is forecasting its biggest ever trading day if voters decide on a Brexit. "We have a number of large clients waiting to place orders," claimed founder Rob Halliday-Stein. "Everyone is waiting for the referendum outcome. -


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