Sunday, June 12, 2016

If Brexit occurs gold will become 'the strongest currency in the world'

The latest poll out for a UK exit from the European Union has the Brexit advocates holding a 19 point lead over those who would see Britain remain in the coalition.  And for those who have been watching both the media and world political and financial leaders trying to use propaganda to dissuade voters from choosing an exit, one thing appears absolutely certain...

A Brexit vote would cause immeasurable change to the global financial system.

In fact, one financier, that being the Chief Investment Officer for River Capital, stated that a British exit from the EU would make gold 'the strongest currency in the world.'

“Gambling websites say Brexit’s a 3-1 bet against,” said the CIO. 
“And if you polled every one of us who wager for a living, I reckon 90% would say the Brits Bremain.” I mooed in agreement, nose nestled in tail, huddled in the herd. 
He mooed back. “But the polls are 50/50, margin-of-error kind of stuff, and they were pretty good in the Scottish referendum, the London mayoral vote too.” 
Brexit would be as shocking for markets as it is unlikely. Which is why no one can ignore it. “All I know is that if it happens, gold will be the strongest currency in the world.” - Zerohedge
Whether gold will instantaneously become the global go to currency remains uncertain in the case of a British exit, however investors have been dumping both the dollar and British Pound since the polls reached a 50/50 coin toss late last month, and as the chart above shows, gold has been rising in relation to this turn... which signals that if a Brexit takes place, the rush into gold will be historic.

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