Now the real fun begins.
Last night Britons voted to leave the European Union, sending shock waves around the world — though not directly or immediately threatening the concept of European integration.
But what comes next emphatically does. Emboldened by the Brits, nationalist parties across the Continent are gearing up for exit votes of their own. Some notables:
Italy’s Northern League To Launch EU Referendum Campaign Next
(Zero Hedge) – Shortly after the final Brexit result was released, the head of Italy’s Northern League Said “Now it’s our turn’ After U.K.
As Dow Jones reports, Italy’s anti-immigrant and euroskeptic Northern League will start a petition calling for a law that allows a referendum on whether the country wants to exit the European Union, its leader said on Friday. In a news conference following the announcement of the U.K.’s decision to leave the EU, Northern League’s head Matteo Salvini said that it was time to give Italians a vote on their EU membership, as the citizens of Britain have just done.
“This vote was a slap in the face for all those who say that Europe is their own business and Italians don’t have to meddle with that,” Mr. Salvini said.
The Northern League launched a campaign against the euro in 2014, but it has been since overshadowed by the anti-immigrant campaigns on which it has built up its electoral support.
Northern Leage is not alone: recall that earlier this week, the anti-establishment 5 Star Movement, emboldened by dramatic victories in Italy’s recent mayoral elections in which Virginia Raggi, a 37-year old lawyer, was elected Rome’s first female mayor by winning a stunning 67% of the vote in the second round, also revived plans for a referendum on leaving the euro.
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Dutch Party for Freedom leader Geert Wilders demands EU referendum
(BN News) – Dutch Party for Freedom leader Geert Wilders, reflecting on the United Kingdom’s decision to leave the European Union, is demanding a referendum to be held in the Netherlands to decide on the country’s EU membership. (more)“The United Kingdom is leading the way to the future and liberation. The time is now for a new start, trusting in its own strength and sovereignty. Also in the Netherlands,” the party said in an emailed statement, shortly after referendum results in the UK showed a win for Leave.
“The Dutch population deserves a referendum as well,” the party said. “The Party for Freedom (PVV) demands therefore a referendum on NExit, a Dutch EU exit. Dutch people should have the opportunity as soon as possible to decide on the Dutch membership of the European Union.”
The Netherlands is scheduled to hold general elections next year, and Wilders – whose party has risen in the polls amidst the ongoing refugee crisis – pledged to hold a EU referendum if he were to be elected prime minister.
“We want to be the boss again over our own country, over our own money, our own borders and our own immigration policy,” Wilders said, less than an hour after results showed that British voters had opted to leave the 28-member bloc.
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Marine and Marion Le Pen call for referendum in France on European Union membership
(News.com.au) – LEADERS of France’s far-right Front Nationale have praised the UK decision to leave the EU and called for a similar vote in France.Presidential hopeful Marine Le Pen wrote on Twitter: “Victory for freedom! As I have been asking for years, now we need to have the same referendum in France and in the countries of the EU.”
She also changed her profile picture to a Union Jack and called a referendum in France a “democratic necessity”.
“The British people have given to Europeans and to all the people of the world a shining lesson in democracy,” she said.
Her niece Marion Le Pen has also called for a Frexit, saying “the French should have the right to choose.”
Even if Brexit had failed last night, the fact that it got close would have energized nationalist parties on the Continent, guaranteeing political drama for years to come. But with “leave” winning fairly decisively, that process has been turbo-charged. The result? Uncertainty as far as the eye can see. The entire European project is now in doubt, which will send trillions of euros pouring out in search of the certainty that can no longer be found at home.
Now watch the central banks. The crazier the world becomes they more the BoJ, Fed, and ECB will feel compelled to flood the markets with liquidity. Problem is, capital will soon be flowing out of financial assets even faster than central banks can pump it in.
And on top of all that, we have a presidential election coming up, a face off between a totally committed much-more-of-the-same debt/war elitist and an unknown radical with a “unique” approach to national political campaigns. And we all have ring-side seats. Break out the beer and popcorn, this is gonna get good. 🙂
The Euro and European Union were flawed concepts from the beginning. History was never on the side of the kingdom established by the EU in Brussels over the serf countries. All of these individual countries fought for centuries to stay independent of anyone, and the EU has not proven to elevate the standard of living for a single European country. Only politicians and bureaucrats have been financially elevated.
This is a Black Swan event that will see banks and countries such as Greece, Spain, Portugal and Italy go to the brink and fall over. Bankruptcies at all levels are in store for Europe and will soon wash onto American shores. Got Gold? Got Silver? Got a backpack to head to the wilderness? GO INTO BONDS AT YOUR OWN PERIL.
and cryptocurrencies…dont forget them
What if we are at the beginning of a cyclic devolution wave? Trump fits right in. He will disappoint, of course, but there’s a fixed cycle with the next turning point for the US in 2032.
By then the US will not be recognizable. Power will have shifted from Washington to local communities.
Hillary’s perhaps analogous to Brezhnev, while Trump’s perhaps America’s Yeltsin.
So much depends on corruption. Hillary’s a known thief. Trump, we don’t know yet. Will his price go up if elected on a shoestring? Or will he be like the French kings who prohibited what they no longer could do themselves?
Corruption is a cultural phenomenon. Under Bismarck a civil servant would not even accept a cigarette. To eliminate corruption begin by looking at ourselves, at our levels of personal cupidity. There is real meaning to “we the people,” beyond the illusion of “of, by and for.”