You can read that here: http://energyandresourcesdigest.com/invest-brexit-drives-gold/. Please do click through.
However, the big surprise was cut out of the story (to keep the focus on gold). So here is the rest of the story, as Paul Harvey would say.
...
Why Is Everybody
Screaming?
Gold aside, many of us will see our investments take a hit
today, as global markets sell off. Is the panic justified?
Britain’s economy is 17% of the EU. That’s a little more
than France (15%) but less than Germany (19%). So you can see why the Europeans
worry. They’re really scared because if Britain can make a Brexit work, that’s
a clear sign to other EU members chafing against Germany’s oppressive
leadership – Greece, Spain, Italy and Portugal – that maybe an exit is the
smart move.
The rest of the world is over-reacting. For example, Britain
accounts for just 0.5% of the trade of Asian countries. Why are they selling off?
It’s a panic, that’s why. Panics can be bought.
Especially since stocks should float higher on a flood of
government easy money.
The losers aren’t just British oddsmakers (71% of bets
placed were for Britain to leave the EU. Pay up, bookies!). The losers include
investment banks and central banks that rely on the easy flow of cash across
borders.
Politically, losers include the European Union, and
especially Germany. Longer-term, maybe even the U.S.
Why us? Because if Britain can do a “Brexit,” maybe Texas,
which has its own loud secessionist movement, can do a “Texit.”
What, you think that can’t happen? Never say never. Pandora’s Box is open. Nationalist movements
are gaining steam. The U.S. Congress is deadlocked and ungovernable.
Secessionist referendums here in the U.S. could be next.
What, we already fought that war? Buddy, people never learn.
Is that good for gold? You bet.
This week’s move in gold sure caught the market by surprise.
But it’s only a first step.
My intermediate-term target on gold remains $1,519. And my
year-end target of $20 on silver is looming closer. I have higher, longer-term
targets.
I keep saying pullback can be bought. When gold pulls back
again, the babbling heads will tell you it’s done for the year. They were wrong
on Trump winning the nomination, wrong on the Brexit vote, and wrong on so many
things. Listen to your gut for a change.
My gut tells me that gold is going much higher.
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