Today is a historic day in World financial history, which will be recorded in our memory forever! And it was a long and sleepless night all over the world as financial markets were frozen in agonizing suspense.
We should admit that Britons are firm and consecutive in pursuing their goal of independence. Almost a quarter century ago, they decided to withdraw their currency from the European Exchange Rate Mechanism (ERM) and they didn’t turn off their road yesterday on the final referendum.
Bookies and analysts got it all wrong as they forecasted the win of the "STAY” option, but more and more we have witnessed that all efforts to calculate human emotions and perceptions fail. The economic consequences for Brexit are harmful to the UK in a short term, but they still voted to leave. People are irrational in their behavior and the realization of this fact would bring the dramatic changes in the economic science in the future. Continue reading "It's Official, They Exit! Risk Aversion Chronicles: Gold Leads The Safety Demand!"→
It's only the middle of the year, but we've already seen quite a lot, even for the seasoned investor.
The Swiss National Bank (SNB) kicked off the ball in January for what has proven to be a nightmare year thus far. It's caused a lot of tears and fears among investors, some of them went bankrupt in one day after it let the franc go.
Greece and it's possible leave of the single currency zone has been dubbed the "Grexit." It's added turmoil to the markets over the last month with currencies crosses opening with gaps on the last two consecutive Mondays. The single currency zone has never been so vulnerable from the day of its launch, as Greek precedent can find followers and bring Germany a lot of headaches furthermore.
The United Kingdom also played its role with the Queen's speech this May containing words of possible divorce with the European Union in 2017, which was named "Brexit" (Britain's exit) a la Grexit.
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