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By Sprott Money

One Day To Brexit Vote

Posted with permission and written by Craig Hemke, TFMetals Report (CLICK HERE FOR ORIGINAL)

With the Brexit vote coming up tomorrow, today
we should take a moment to consider what should happen with gold
following the outcome.

The first thing you need to know is that this is
NOT a done deal. The assumption since last Thursday is that Brexit will
fail…and it likely will. The City of London almost always gets what
The City of London wants. To think that the hoi polloi will be allowed
to advance an agenda that is NOT in The City’s interests is almost
unfathomable, sort of like those believing that a new Glass-Steagall
will be passed one day in the U.S.. The Financial-Political Complex
overpowers everything through bribery, greed and corruption so to think
that popular opinion would be allowed to override them?…Well, it’s a
long shot.

That said, the polls remain close, and be sure to
check this from ZH. As you know, ole Turd knows a little about
bookmaking so, to me, this makes perfect sense. Essentially, the
bookmaker simply desires equal amounts of money on each side of the
wager. The amount of individual bets tells you something about the
supposed “smart money” but it can be misleading. What this ZH post shows
is that there is a huge amount of individual bets on Brexit but an
equally huge amount of money…in much larger chunks…on Bremain. Now
why would that be? Does the “smart money” know something that the
“squares” do not? Or is someone attempting to influence opinion by
placing big bets in order to drive the odds toward Bremain? This is an
interesting question to consider in the remaining hours before the vote.

And here’s yet another major English newspaper coming out with an endorsement of Brexit: http://www.dailymail.co.uk/debate/article-3653385/Lies-greedy-elites-divided-dying-Europe-Britain-great-future-outside-broken-EU.html

And don’t forget who reads newspapers and which
is the most likely demographic to turn out in large numbers…old(er)
people. And which group is most likely to reject the EU in favor of
British “patriotism”? Old(er) people. Just sayin’.

So, again, this is far from a done deal, regardless of The City’s desires. Sit tight and be ready. Tomorrow will be fun!

To that end, let’s now talk about gold and the
impact of the vote on paper gold “prices”. It will be easier to discuss
this verbally and we’ll attempt to do so in today’s podcast which, God
willing, I’ll be able to post before 8:00 pm EDT.

Here’s where ole Turd stands…and this is NOT
because “Turd is just a permabull who always says BTFD”. Everything and
every scenario says gold is going to rally, NOT plummet. Why? Let’s list
a few of the reasons:

1. How much “Brexit risk premium” was pumped into gold in the first
   place? Gold was $1213 and down nearly $100 from its highs before the
   June BLSBS put …read more

   Source: One Day To Brexit Vote

       

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   Posted June 22nd, 2016 in Uncategorized.