Brexit

[Ridge Runner]

Apparently if you were an Aussie over there you could cast a vote from what i heard on TV this morning. Can anybody confirm that for me please?

I Now have Duel Citizenship coz I thought it was a good Idea, British people have often come up short 72 time out of 72 proposals Britain lost the vote in the EU so that's a 100% Failure Rate and they pay $700.000,000 Per Week for the privilege of being Told NO in anything that has been proposed, thats 10 Billion pounds or 20 Billion Dollars per year to get ZERO Return on your investment,

You should keep an eye on the last London Mayor ( Boris Johnson ), He's a total loon, I think he is brilliant and a real character, I am sure he could lead Britain to bigger and better things, He is funny but good in pommie upper crust sort of way,

The OUT campaign won by 1,269,501 votes, OUT got 17,410,742 and the IN got 16,141,241

John

 

[Colmaca]

 

[BigWave]

Steady guys. This is politics. Notolerated here.

 

[Ridge Runner]

Steady guys. This is politics. Notolerated here.

I know and I don't normally get involved in it, but because of how it has effected me personally since I have been here It is only natural to comment.

John

PS, now I can Buy Minelabs and not get stuffed, lol.

 

[rocketaroo]

Steady guys. This is politics. Notolerated here.

let the mods point it out

 

[vstrom]

No politics just fun and friends.

 

[Tathradj]

No, I am not going to take the bait. 8)
Besides, Old Hawkeye booted the privy out back in his day.
And that is the only comment I am going to make. LOL

 

[Ridge Runner]

Its Ok to just inform people of a major News event But not the personal In's and Out's of politics,

It's just Gossip, NOT Politics,

john

 

[clegy]

I thought it was Interesting to read this morning that the Japanese Yen is a safe haven at times like this and that currency is rising fast.
Would never of thought that, Japanese Yen and Gold. At least I have some of 1 of them.

Happy Brexitting!

Clegy

P.S Might Hit the large Japanese owned resort close by and hope someone has been dropping yen.

 

[cecc]

Can anyone explain to me why because of this decision of the UK to leave the EU. has this affected the gold price?

 

[clegy]

I may Be wrong But....

In times of uncertainty (War, Political upheaval etc) investors get nervous and look for stable and safe places to stash their money while the **** storm blows over.

If you have a lot of British pounds at the moment then your actually getting poorer just by having them, By changing those pounds into gold you actually turn that around by putting your money into something less volatile at the moment.

So as more people stash money in gold, the price goes up as demand increases.

As things cool down and the currency starts to stabilise then the investors sell their gold, get some cash and start playing the trading game again. The gold price comes down again.

But we are talking mega amounts of cash and gold here, a million pounds will cost you 10,000 pounds every time the currency moves by just 1 percentage point.
Wack that million into gold and those loses are reversed and your million is secured against the currency diving.

If your a broker looking after Billions of dollars of other peoples cash and their portfolios are diving because of share price reductions and currency fluctuations you can save your clients and your commission cheque by taking the cash out of those volatile stocks and locking it up in gold for a while.

It really boils down to basic supply and demand, at the moment demand for gold is high.

At least that is my very basic understanding of how that works. Feel free to correct me if I am wrong.

 

[cecc]

Thanks clegy, good info cobber.

 

[Heatho]

Though if you bought gold yesterday at it's peak price you will still have lost money this morning. You could have bought gold yesterday morning and sold in the afternoon to make a profit of over $100 an ounce. It all depends on when you buy and when you sell.

Anyway the markets fluctuate so wildly these days as there are so many day traders, currency traders, CFD traders that actually hope for this type of instability, it's no different to having a bet on the footy these days, though slightly more refined with a lot of different products.

A lot of nervous investers would have sold yesterday, also due to margin calls a lot would have also been devastated for betting the wrong way.

There will be bargains for investers to buy next week. Nothing much will really change once everything gets back to normal.

 

[clegy]

Some people will get filthy rich out of this and others will go broke, either way the decision went the same thing applies.
For someone to make money, someone has to loose it first.

Its a lot like detecting, if you use the right info, do the research and put yourself in the right place at the right time then you'll get the rewards. Just look at how many profited off the beach erosion lately. House owners lost, Detectorists cleaned up.

Not quite the same scale But you get my winners/losers analogy I'm sure.

Thought I betta at least hint at some form of prospecting LOL.

 

[Jaros]

I heard this morning on radio that some of the "BIG Money WIGS" in the world that cleaned up in the GFC crisis were again involved in this outcome.

 

[Maltisau]

It's all just a smoke and mirrors game. Gold is real. I like gold. I care not for money. Every show in the pan is priceless to me :lol:

 

[Danny13]

Yup gold is up , need to find more of that old roman gold relic stuff john

 

[Danny13]

Yeah I'm saved

 

[Jaros]

Nice gold. But you need .....MORE!!!!--Never enough.

 

[Danny13]

I have silver too jaros, yay?