Now that Britain has decided to leave the EU by a vote of 52 percent in favor of leaving the EU and 48 percent in favor of staying with the EU, nemesis approaches for derivatives and Deutsche Bank. Personally, I think the neo-liberal free trade elite are in retreat and this Brexit decision is only a temporary set back for them. As expected, the markets have reflected the decision by the British to leave the EU with the Yen gaining value hovering around ¥102. What will be volatile are the multi-trillion dollar derivatives related to Deutsche Bank. Deutsche Bank just announced 188 German branches closing and 3,000 Deutsche Bank employees cut from the staff.
Nigel Farage claims it is a tight victory for Brexit