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Friday, June 24, 2016

Brexit Results. . . "Should I Stay or Should I go"

By Douglas V. Gibbs
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A clash has occurred in the British Empire, and the end result at first seemed like it was anybody's ballgame.  Then, by a narrow margin, the voters of Great Britain wanting to get out of the European Union won their victory.

Here in the United States the conservatives have stood against Obama and the Democrats, and have supported the United Kingdom's bid to seek freedom, sovereignty, and independence from the failed socialist imperial experiment known as the European Union.  Now that the vote is in, and Brexit has won, it turns out Obama and friends are on the wrong side of history. Only Donald Trump had backed the campaign to leave.

The British exit from the continental government, known as Brexit, has been something that's been bubbling up for a while.  The vote regarding whether to stay or leave is the first time in 40 years that the British people took to the polls to decide if they should even have a membership in the European Union.  A vast majority of Brits back in 1975 supported Great Britain being a part of the European Economic Community (as it was called, back then). Times have changed, and an anti-establishment sentiment has risen.  Now, as the European Union changed, so has the opinion of the Brits.  The Brexit vote has shown that by a narrow majority, the British people prefer to handle their own affairs more so than giving any of it away to the socialist bureaucrats in Brussels.

The European Union has become the new western empire, an overregulated system of bureaucracy.  Economically, the experiment has been a disaster.  Regarding immigration, it has enabled Britain to be filled up with migrants who have no interest in becoming British, and plenty of interest in being a problem.  The jails are full of non-Brits, and Muslim terrorism is on the rise.

Now, without being a part of the European Union, while Islamic terrorism is running amok, Britain now has the ability to tighten their immigration laws, and tell the European Union that they don't plan to follow the destructive mandates of the EU.

The exit from the EU also frees the British courts from EU control.  As a member of the EU, any ruling in a British court could be overruled by the European Court of Justice in Luxembourg.

According to the Heritage Foundation's "Daily Signal" - By leaving the European Union, Britain will be able to control its own borders, restore its own legal system, and save a considerable amount of money by not having to pay European Union membership.  Britain will be free from the seemingly endless number of the European Union’s costly laws, permitting economic and job growth. Though more than 90 percent of the U.K. economy is not involved in trade with the EU, these laws create an unnecessary pressure on small and medium sized businesses.

If the regime clutching the White House in Washington D.C. changes away from the big government, socialist Democrats in the United States, the decision to leave the EU by Britain may create an opportunity for a closer, reinvigorated alliance between the U.S. and U.K., boosting trade and investment between the two nations.

Once independent of the European super-state, the U.K. can create an independent free trade agreement with the U.S. regardless of what the rest of Europe thinks of it.

The existence of free, autonomous and sovereign nations not tied to powerful central bureaucracies that believe one size fits all creates innovation, better trade, and enables the independent nations to become more powerful on their own, enabling them to ultimately overcome external threats, and be more innovative in both the political realm, and economic realm.

Brexit will likely end Prime Minister David Cameron's career who supported remaining in the EU.  The bulk of the "Leave" votes came from England's non-London populace, and Wales.  London, Northern Ireland and Scotland largely supported remaining a part of the EU.  Some leaders in Scotland have threatened departing from the United Kingdom so that they may rejoin the EU independently.

While Cameron's career may be over, conservative Ukip leader Nigel Farage has hailed a 'victory for real people' and declared June 23 the country's 'Independence Day' - and this may launch Farage into position to be much more influential in the system of governance in Britain.

U.K.'s Daily Mail reports that following the Brexit vote, the British Pound nose-dived to its lowest level against the US dollar for 31 years as traders took fright at the news, and the stock market is set to open down around 8 per cent. 

Bloomberg is reporting that the markets are roiling, and gold is jumping in response.  Sterling has experienced a record drop, and U.S.and European equity futures are sinking.  Oil tumbled below $48, and industrial metals are slumping.  The economic madness, however, should be temporary, and is based more on fear, than reality.  So, while global markets buckled as Britain voted to bail on European Union membership, once investors realize the advantages to Britain's defection, we will see a steadying of the market.

In short, Britain's large economy compared to the other members in the EU (aside from Germany) has hurt the EU's economic strength, but it has bolstered the potential for growth by the U.K. significantly.

The results as reported by the BBC places the final tally at 51.9% voting to leave the EU, and 48.1% voting to remain in the EU.  The overall turnout was a whopping 72.2%.

In England, Leave garnered 53.4% of the vote, while the Remain campaign won 46.6%.  Northern Ireland saw a flip in the numbers with Leave at 44.2%, and Remain at 55.8%.  Scotland voted even more lopsided towards Remain, with only 38.0% voting to Leave in Scotland, while Remain got 62.0% of the vote in Scotland.  Wales sided with England, with 52.5% voting to leave the European Union, and 47.5% voting to Remain.

Congratulations to Britain.  It'll be a little rocky at first, but in the end, Europe will collapse, but it won't matter to Britain because on June 23rd the Brits launched their lifeboats, and floated as far away from the sinking ship of the European Union as they could. . . and they will be better off because of it.

-- Political Pistachio Conservative News and Commentary

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