Tuesday, June 07, 2016

BREXIT



The Clash: Should I stay or should I go?


BREXIT is the nickname given to the United Kingdom referendum on continued membership of the European Union (EU)

The big picture is that I have felt that the UK has always been a bit half hearted about its membership of the EU, and by UK I mean by politicians and public alike.  However today, as things stand, all the major Political parties advise staying in.  Meanwhile the Remain In and the Leave campaign now have widely and sometimes hysterically  different predictions as to the consequence of a change or continuation.


First Principles
Marcus would dismiss the barrage of statistics, quotes, scare tactics and revert back to fundamentals. I'd ask you to look at 3 essentials that I was always taught need to remain under the countrol of a country:


Sovereignty
This means the laws that you make in the country are the highest and may not be overridden by laws made by another country or collective.

Money Supply
This means the ability to print money or remove money from circulation.  Regulation of the money supply to deflate or inflate the economy allows you to regulate the price of inbound or outbound relative costs of goods and services.

The UK never ceded this control and did not join the Euro.

Border Control
This means how many and under what conditions you allow foreigners into your country, either as visitors, temporary workers, or longer term residents.



Are the above Necessary?
I'd argue these powers may not be required in the days of a booming or buoyant economy. But in less than ideal times they are required to regulate the economy.

A Global Economy should not be confused or conflated with a Nation State.


When is it again?
The vote is on June 23rd 2016.  Right now it is a close run thing




In Summary
There is a very good chance that Britain will choose to Exit the EC European Community.   As the voting date draws closer, keep an eye on this meta study link

https://ig.ft.com/sites/brexit-polling/