Posted Jun 26, 2016 by Martin Armstrong
Our sources are saying that the central banks have come to an accord to cooperate in an effort to support financial stability in the wake of Britain’s vote to leave the European Union. This is akin to the Plaza Accord of 1985. Central bankers urgently gathered at the Bank of International Settlements in Switzerland to discuss the implications of the BREXIT referendum. The central banks are endorsing a contingency of measures to be put in place by the Bank of England. While the central banks will carefully monitor market functions and stability, they are clueless what to actually do other than try to prevent currencies from swinging wildly.
The entire crisis has come about because the EU attempted to federalize Europe and impose its will upon the people while suppressing all efforts to resist. This is now reaching a major crisis and the elite refuse to accept that they are simply wrong. This crisis will merely increase. It cannot be rectified without abandoning the entire philosophy behind the EU of one policy fits all.