Indeed. The Bankers at Frankfurt are already rubbing their hands in greedy joy because they predict that Frankfurt will become the new financial center of the EU, creating about 10,000 new jobs in the bank industry....That in turn means they think that London will become rather unimportant...:yeah:

Yup, boy are we going to be screwed, and guess who will pay for it.

(Hint: It's not the wealthy elite)

(Hint: It won't be Germany this time either...);)
But to be fair it is my understanding that it will be paid for by the people who mostly voted out.

Not so fast. There also is Dublin and Paris. And the fate of London imo is anything but sealed.

It is a great opportunity for Britain, to shift its financial income sources away from the stockmarket gambles, to real economy. The latter is were the real, material wealth is generated. Thats the difference between real serious investing, and just gambling. Investing means a decades-running strategy. Gambling means grab as much as you can as soon as you can and runrunrun.

Drunken of paper money paradigm as everybody seems to be nowadays, I am however not too optimistic that this will happen. And the political caste in britain still is well and alive, having an interest to prevent a limitation of their ways to spend, and then spend some more, and more, and always more.

London now has an opportunity to become a gateway trade center non-EU to EU.
Londons ties to the EU won't go away because of one political shift and now they have unrestricted access to the outside world*
Similar how Slovenia is a gateway for the Russians into EU, since we're the only not hostile (openly or otherwise) EU nation. We benefited (and me personaly) from Russian investors simply because all other nations hate them and Serbia is not yet in EU.

Just give it a week or two Onkel, the £ was at an almost all time low to the $ (1.32) early on so anyone buying at that rate can currently cash in at around 1.37, quite a tidy sum for those financial institutions looking for a quick profit and the rise will continue a bit further it is being predicted.

At one point bank shares were down 30% so imagine the gain to be made for those who bought at that rate and this is before Mr Carney (B o E) actually starts to do something for his high salary, for a change.

The 'experts' all predicted the large drops but fell short of stating their intentions to purchase during the lows and reap the benefits when the conditions levelled off, which they most certainly will, if not to the original highs but not too far off.

Money not only looks after money but it also makes more of it.

Maybe the bankers move from London to Frankfurt, but i doubt it.
I see western french ports will gain on importance, since imports to Europe will not use UK territory for landing EU-destined goods anymore.

Here we go!

Tomorrow, will the market keep dropping like a turd in a well... or will investors jump in and grab the deals?

Nikkei opens any minute now...let's see where it goes...

http://www.bbc.co.uk/news/business-36636853

ddddoooooowwwwwnnnnn

Still, nice to see our Chancellor is going to make a speech, probably along the lines of:

https://pbs.twimg.com/media/BsnAXzrIAAAMdU3.jpg

The stock market was down 500 points way back in late January 2016 and then it bounced back as oil prices came down. It use to take a year or more to bounce back now it is up and down with the usual profit takers making money off of someone else's mistakes.

This is what Wall Street does ... make money. It's not gambling like Vegas with fixed odds on every game (except craps has a little slop). It's an investment and they know how to sell and wait for a lower price to buy and how to pump in more money when the market is ready to go back up.

I think it will make a come back :yep:

The Stock Market Is Not The Economy article January 22, 2016
http://fivethirtyeight.com/features/...t-the-economy/

^ Right, i think



"It’s true that the pound has fallen by a lot compared with normal daily fluctuations. But for those of us who cut our teeth on emerging-market crises, the fall isn’t that big – in fact, it’s not that big compared with British historical episodes. The pound fell by a third during the 70s crisis; it fell by a quarter during Britain’s exit from the Exchange Rate Mechanism in 1992; it’s down about 8 percent as I write this. ....


Furthermore, Britain is a nation that borrows in its own currency, not subject to a classic balance-sheet crisis due to currency devaluation – that is, it’s not like Argentina, where the fall in the peso wreaked havoc with firms and consumers who had borrowed in dollars. If you were worried that fears about Brexit would cause capital flight and drive up interest rates, well, no sign of that – if anything the opposite.«

from: http://www.vox.com/2016/6/24/1202472...ists-recession

^As per the above.

FTSE (at time of posting) is 6,044.22 Down 94.47(1.54%).

No big deal and a lot less than in previous periods during the past twelve months.

So far so good then. :yep:

EDIT: Well...with the exception of:

https://pbs.twimg.com/media/Cl-eTqCWkAEkUtA.jpg

Could fast be approaching the time for the financial 'wizards' to start buying, especially when BoE intervention is expected.

Speaking of those wizards, a former analyst from the Organisation for Economic Co-operation and Development:

https://pbs.twimg.com/media/Cl9cs11WEAUH4ed.jpg:large

I wonder if they'll be so 'sure' in a couple of weeks?

I hope not, but given the political gridlock and that the big two parties seem to be self-immolating, I can't see much changing in the short term. Maybe Gideon will get his finger out and start shoring things up a bit, but honestly politically it's in his favour to let things run and let the UK take a nose-dive in an 'I told you so' kind of way, and it'll discredit Bojo too who seems to have taken a big jump into a pit of dirt and is trying to figure out how to dig himself out.

Gideon is probably reliant on Boris and Gove for his future prospects atm.

Nothing to see, in several posts of the past. Also some missing in the Brexit thread. Is it a glitch, deleting, or (ahem) censorship? :hmmm:

Currently talking to Neal on Skype and having checked the moderator log we can find nothing untoward.

Could you point us in the right direction?