The Shambles of Brexit

Politic relationship between Europe Union and Great Britain. Brexit

We remember being in the Port Phillip offices around late October 2016. Our memory is a little hazy on the date. We were back for work related stuff — can’t really remember what to be honest.

Nonetheless, we do remember sitting in on an editorial meeting. It was up in the mezzanine in our Albert Park office. The usual suspects were around. The editors you hear from regularly here in Money Morning were all present.

Anyway, as you’d expect we all got chatting. Or arguing. One of the two. Or both. These things tend to happen when you get a bunch of editors in one room with an untold number of ideas all wanting to get their point across.

We think Jason Stevenson was going on about fake climate change. We’re pretty sure we were banging on (again) about crypto. This was almost a year before we first launched a crypto service we might add.

Of course we all know that finally our publisher Kris Sayce gave in to my persistent nagging. And we launched Sam Volkering’s Secret Crypto Network mid-2017.

That’s not the point though. The point is this was around four months after the UK had decided to ‘Brexit’. After going to a referendum the British public voted to break free from the European Union.

The public had enough. They wanted a divorce. They were sick of the watchful eye of the EU. They wanted their Britain back. And that’s what they thought they would get.

Now back to our little editorial meeting in Albert Park…

As you’d expect the topic of Brexit did come up. It had been a particularly hot topic to write about since the vote. There were arguments about whether this was a good thing or not for the UK. There was a spattering of different opinions.

But we remember in this meeting that Kris Sayce said it wasn’t going to happen. Of course at the time, that might have sounded a little outside the box. But hey, that’s exactly what Port Phillip Publishing is built on — out of the box thinking.

Now again we’re 99% sure this is how it played out. This could be a bout of fake memories on our part.

But we doubt it. We know Kris has said from the very start he doesn’t think Brexit is going to happen. He’s stuck to his guns the whole way.

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In fact, in Port Phillip Insider (a special newsletter for all our paying subscribers), from 19 April 2017, Kris had this to say:

We’ve said from the start that we don’t believe Brexit will actually happen.

We just don’t buy the idea that the “Deep State” and global bureaucracy will allow a sovereign nation (the UK) to leave the clutches of the European Union.

No one in that meeting though Kris was ‘having a moment’. We all took some time to consider just what implications that might have. And to consider that jeez, he just might be bloody right!

You simply can’t trust those who say trust me

The idea of politicians is to represent the people. They present ideas and policies that they think will best take the country forward. Their core purpose is to try and put into place these policies to make life better for the people.

Sometimes a country will allow people to vote on specific issues that affect them directly. So, rather than voting for a politician or party and their policies, you can vote directly on the policy itself.

These are referendums. Australia had a referendum a little while ago to decide if we wanted to become a republic or continue on as part of the British Commonwealth.

We were pretty young at the time. But we vaguely remember Eddie Maguire having something to do with the republic side…strange. 

That referendum didn’t pass. Obviously.

You don’t often get referendums. And when you do it’s usually for something big like a separation from someone else. Think of it like a giant divorce between two former ‘married’ countries.

That’s the core of the British referendum to leave the European Union. Like Australia tried to ‘divorce’ the UK in 1999, the UK in June 2016 tried to divorce the EU.

But unlike Australia…the UK 2016 referendum was successful. And as we all know the British public say ‘YES’ to Brexit.

This result shocked a lot of people. Actually it really just shocked middle and upper class people from London. Everyone else in the country was sick of being the EU’s whipping boy and they wanted their Britain back.

With a successful referendum the British government was then responsible to put a plan into action to make it happen. They have until March 29, 2019 to finalise their exit and get the vote passed through an EU summit.

This ‘exit strategy’ is really the divorce details. A bit like who gets custody of the children and pets. Except this time it’s who gets custody of the millions of EU citizens in the UK and the millions of UK citizens in the EU…and trade. Let’s not forget it’s also about what to do with the free trade agreement between the UK and EU.

Anyway, you’d think with over two years of time the government would sort it out. Except they haven’t. In fact, they’re stuffing it up big time.

Theresa May’s government is literally now falling apart. On Monday David Davis and Boris Johnson both quit their roles. They weren’t happy with the government’s Brexit plans.

And now there’s talk of a leadership spill, possibly some knife-in-the-back action from within her own party. Theresa May is on borrowed time.

This is all because she’s pussyfooting about trying to desperately hang on to the EU. She doesn’t really want the divorce. So she’s making it as ‘soft as possible’.

In short, the British government is screwing over the British people.

We thought that Australian politics were stuffed. But jeez, maybe the UK takes the cake. This is in utter shambles. And the country is in ‘crisis mode’ because of it all.

What this is leading to is the fact that Kris Sayce is probably going to be right. Every day this shemozzle drags on, it’s more likely there won’t be a ‘Brexit’ at all.

On 29 March 2019 we’ll know for sure. Of course if that’s the case we’ll know about it before then.

We think that a ‘non-Brexit’ could shake up world markets. It could create some incredible buying opportunities. It could be a chance to get some quality stocks dirt cheap. But you’ve got to be prepared for an ever more likely, unlikely Brexit.

Regards,

Sam Volkering,
Editor, Secret Crypto Network

Sam Volkering

Sam Volkering is Editor for Money Morning and its small-cap, cryptocurrency and technology expert. Find out what he has to say here with all his latest articles.

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