UK pound falls to fresh 2.5-year low against Singdollar as 'Brexit' fears persist

[specuvestor]

^^My sentiments exactly. That's why I am flabbergasted that people who made the decisions, from referendum to Brexit Camp to the British people, do not try to figure out what was the purpose of EU and the cover that it has provided

Again to be politically incorrect, strategic decisions cannot be made by referendum, nor strategic directions of a company by shareholders; who do not have insight nor depth of understanding to make the informed decisions. Romantic notions of direct democracy or decision making is just that: romantic notions

Just thought I'll chime in a bit on my 2cts:

1) Britain is in the EU but not the Eurozone. Unlike Eurozone there is provision for leaving EU:
https://en.wikipedia.org/wiki/Withdrawal...pean_Union

Nonetheless Mr market usually fails on details and it will again open up the Pandora box of domino theory.

Actually UK is one of the founding partners of EEC and indeed one of the reason is to contain the "bully"- Germany, the main actor in both world wars.

2) NATO is effectively dead under Obama. If you follow current affairs including middle east, the entities at the stage is US and EU, not NATO.

3) Unless UK is intending to change their economic structure from EU centric to say China or US centric, I fail to see the logic of BREXIT, just like the logic of East Timor. In fact if Scotland were to leave UK they will be in trouble now when North Sea production plunged with oil at $50. With oil was at $100 they see themselves as being marginalized but they can't see the strategic value

That is why LKY was pro uniting with Malaya. It was a big strategic issue when we left in 1965 but people who don't understand the context with benefit of hindside thinks it's so simple.
https://www.theguardian.com/us-news/2016...land-visit

I really hope UK don't make a mistake just like Scotland avoided a mistake. Otherwise I think this will mark the end of UK as a major power on the global political stage. They will not have the clout against China or even Russia without EU. The world will move on

And US to remain sane end this year

To be politically incorrect that's why such complex decisions have to be made by leaders and functional committees. It is not about elitism but about capacity and competency to decide. They are elected for such representative decision making and have to account to the electorate.