I’ve been inundated with email since I wrote about Brexit on Monday.
Who knew the EU was such a contentious issue?
Lots of the email was sober and thoughtful… some of it was passionate and angry. Fair enough!
You hear the argument a lot that Brexit is too complicated for ordinary people to get their heads around. The argument goes that it should be left to professional politicians and mandarins.
I think that’s a load of nonsense. The emails I’ve gotten about this subject all make legitimate, clear arguments. Whether they’re in or out, people “get it”.
So today, on polling day, I want to show you two things which could be helpful. On the off chance you’re still on the fence, I want to quickly run through the best ideas and arguments I’ve gotten from reader emails.
And second, I want to show you a different way to think about polling day. Today isn’t just a big day for democracy in the UK – it’s a big day for investors.
Currency traders are going to make a lot of money today. Later on I’ll show you how you can get in on the action.
Keep hold of nurse?
Charles ran through the most important concrete arguments for sticking with the EU:
That’s an interesting and relevant perspective on Brexit, from the Irish perspective.
Here is another from Hilaire Belloc: “Always keep a hold of Nurse, for fear of finding something worse.”
I am firmly in the Remain camp for a variety of reasons, not the least is that the EU with its constant dialogue between the nation states, a tariff-free market and many shared policies and regulations system, has contributed to its first 70 year period of peace in the past 1,000 years. If we leave, others may follow our lead, Europe will start to fracture, security will suffer and Russia will flex its military muscles, with the heightened risk of a return to warfare into which the UK will inevitably be drawn.
Economically, we have access to the world’s biggest single market. If we turn our back on our trading neighbours by leaving, we cannot expect them to welcome us with open arms when we seek fresh trade agreements with the EU. The process will be neither quick nor easy – most divorces end with bitter arguments about money.
All the leading scientists are worried that leaving the EU will cut the UK’s access to the shared research with EU partners in which the UK plays a leading role.
A consequence of a Leave majority will be the demand from Scotland for a second referendum on its independence from the UK. This time the Scottish people will express their anger at the UK leaving the EU with a majority vote for independence. I am a Scot (an economic migrant living in London) and wanted Scotland to remain in the UK during their first referendum.
The Leave arguments about immigration and sovereignty are illusory. I only have to hear Gove or Johnson speak to be reminded exactly why I don’t want them to regain 100% sovereignty.
There are many other reasons for staying in the EU. Sure, it’s not perfect, but let’s stay in it and make it better instead of stomping out and jeering at it from a distance – Bullingdon-style.
In my article on Monday, I wrote that American companies base themselves in Ireland and sell into the EU.
Brian takes up my point. He’s irritated that Ireland is competing with the UK. And he’s right – but remember, lots of US companies are based in the UK for similar reasons. And the big prize for companies isn’t the UK market. The EU market is around six times bigger.
I was surprised that you made no reference in your potted history of Ireland since 1921 to the role of the English language in persuading many US companies to base their European operations in Ireland.
That’s actually one of my (several) Brexit drivers. It irritates me that many US companies are in Ireland largely to target the relatively large, English-speaking market in the UK. That means that Ireland picks up the benefit of the inwards investment, while UK companies get US competition from ‘next door’.
Good luck to you… we can’t expect to win ‘em all, but I do believe that’s a factor worth mentioning.
Ralph writes about what he considers “the elephant in the room”, which is the effect of immigration on UK infrastructure. There’s no question that UK infrastructure needs investment. The question is whether a) the government is willing to spend and b) whether EU membership helps to finance it.
The appalling behaviour of our politicians over the last few months is a disgrace. The real issues have been ignored not just by them but also by most of the media too.
There has been nowhere near enough focus on the impact that immigration is having on our infrastructure, despite the fact that this is really the most important issue to a vast majority of people who are voting. In considering the impact on the UK economy that a “leave” vote might have, it is not sufficient to simply look at GDP. A much more detailed and considered view on the costs of our membership also needs to be taken into account.
The “Remain” camp has gone on record as saying that immigrants pay more in tax than they take in benefits but nothing is said about the huge cost that they bring to our infrastructure. The “Leave” camp hasn’t done much to address the infrastructure issues either. What the public want to know is things like; if we keep increasing our population by 300,000 people a year, how much more funding will the government need to provide for the NHS, our roads, our schools etc etc? Where is this information? Where will this money come from?
And finally Peter reminded me that Brexit didn’t just drop out of the sky. It’s a movement, one that’s decades in the making.
I am, no I have voted for Brexit. I have laboured for 16 years to achieve this referendum. UKIP has had this target for 22 years and it is only because of UKIP that it is taking place.
VOTE TO LEAVE and be free once more.
Enough politics. What’s the opportunity?
If you haven’t seen it yet, I recommend you watch this special Brexit broadcast now.
The pound is like a coiled spring right now. In the video, currency strategist Jim Rickards and trader Tom Tragett explain why it could be the “trade of a lifetime”.
The referendum outcome will become known some time in the small hours of Friday morning. So there’s not much time left to act. Click here for the full details now.