Profiting From "Brexit"

Just wondering why gold? What is the relation that everyone is buying it because of exit?
 
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beingink said:
Just wondering why gold? What is the relation that everyone is buying it because of exit?
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dollars, pounds, etc. are based on the gold standard. people always buy gold when a currency drops.
 
The Scarlet Pimp said:
dollars, pounds, etc. are based on the gold standard. people always buy gold when a currency drops.
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You're wrong. That has stopped longgg time agooo.. in 1971 when the U.S. President Richard Nixon severed the direct convertibility of U.S. dollars into gold. With this decision, the international currency market, which had become increasingly reliant on the dollar since the enactment of the Bretton Woods Agreement, lost its formal connection to gold. More here -> http://www.investopedia.com/articles/forex/051215/gold-standard-versus-fiat-currency.asp

The money that is in our hand money is called FIAT money and it has value only because we believe it and we have been told by our governments
 
HoNeYBiRD said:
There's a Hungarian investment guy called György Soros living in the US. He has around $30 billion at his dispose. It's always a good idea to watch closely what that guy does. He wasn't trading lately, then outta fucking nowhere before the Brexit voting he started to buy gold like there's no tomorrow.
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How do you know this?
 
Ali008 said:
How do you know this?
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He is reffering to George Soros
Back in the 1992 Soros made 1 billion USD betting that the GBP will fall,which happened. Google how soros break the bank of Englad and you will learn the entire history.
 
mirrorer said:
He is reffering to George Soros
Back in the 1992 Soros made 1 billion USD betting that the GBP will fall,which happened. Google how soros break the bank of Englad and you will learn the entire history.
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Jesus H. Christ, what would have happened if he bet wrong? :eek:
 
VIX futures was the play, not gold or BTC and it's passed already. You can use more leverage, so you can make a lot more but also lose your shirt if you get it wrong.

Give things a few days to ripple and on late Wednesday-Thursday stick your toe in on shorting VIX futures contracts or if you have less balls just buy XIV or something similar and hold on until things settle a bit when people realize there is no actual EXIT for AT LEAST 2 years.... and until then will just be negotiating how the exit will take place.

What this does do is set the precedent for other countries to leave the EU, and I suspect there will be more to come.
 
KenTZ said:
Jesus H. Christ, what would have happened if he bet wrong? :eek:
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He is smart.He knew something and he had his friends with billions too on his side ;)

Also,the bank of Englad was trying so hard to keep the GBP at 2.7 versus usd while the UK economy was going downhill. The drop was inevitable,soros and others just made it more easy and they were in before the move
 
annd said:
Will be like Greece few years back. They voted out, then backed up. Same will happen now. There is a petition now to cancel the vote. I would personally start a petition to not allow GB back in Europe
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that would suit us, Europe is stuffed. Italy, hungrary, France are looking to follow. Be prepared the Brakup is starting. The Eu leaders are panicking.
 
mirrorer said:
He is reffering to George Soros
Back in the 1992 Soros made 1 billion USD betting that the GBP will fall,which happened. Google how soros break the bank of Englad and you will learn the entire history.
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and he did the UK a huge favour, which to this day he doesn't like to admit
 
Ali008 said:
How do you know this?
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I read about it after the fact. I'm not a wizard. :)
I just happen to be Hungarian too, and here the moves of Soros are closely watched, always were. Lately he's having some beef with the government or part of the government, he was accused that he has an agenda and pulls the strings from the background, so his moves now are even closely watched than before.
 
A wise man once said if 90% of ppl are going in one direction take a deep breath and take a path with those remaining 10% and you wont regret it...
 
I think the profit is going to be slim, the panic selling seems to be dying down. Bitcoin is going down in price again, gold should go down tomorrow and the pound will recover some more.
 
mirrorer said:
You're wrong. That has stopped longgg time agooo.. in 1971 when the U.S. President Richard Nixon severed the direct convertibility of U.S. dollars into gold. With this decision, the international currency market, which had become increasingly reliant on the dollar since the enactment of the Bretton Woods Agreement, lost its formal connection to gold. More here -> http://www.investopedia.com/articles/forex/051215/gold-standard-versus-fiat-currency.asp

The money that is in our hand money is called FIAT money and it has value only because we believe it and we have been told by our governments
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yep, that sounds about right! :D
 
What do people think of shorting the pound tommorow when trading opens?
 
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