by John Browne
Euro Pacific Capital
On June 23rd, despite months of fear mongering by former Prime Minister David Cameron and his allies, doomsday global economic forecasts offered by the International Monetary Fund and the Obama Administration, and a steady drumbeat of anti-Brexit news stories by the BBC, The Economist and the Financial Times, the British people delivered an unexpected event to the global financial system by voting to take Britain out of the European Union. Despite the forecasts of doom and gloom, the people voted for freedom, democracy and common law.
Most of the elites continue to warn of dire consequences for Britain and many believe that the separation process will be long, messy, and perhaps even farcical. Many argue that Britain will seek some sort of reconciliation once it realizes the true costs of its hubris. A July visit to the UK convinced me otherwise.