06-24-2016 (Photo: British pound note) http://JohnBatchelorShow.com/contact http://JohnBatchelorShow.com/schedules http://johnbatchelorshow.com/blog Twitter: @BatchelorShow

Grand Strategy after BREXIT. Gregory Copley, Defense & Foreign Affairs.

“This isn’t the end of the EU “experiment” – it is a new beginning. “The UK’s exit from the political arm of the European Union isn’t the end of the world. “Contrary to what some might believe, the UK will not be leaving the common market; rather, it will just be leaving Brussels and its bureaucracy behind – two very different things. This break between the UK and its continental neighbors has been brewing for years and will most likely end up being in both of their best interests. Over the short-term, though, panic and uncertainty will undoubtedly cause tribulations in the global markets. But things will quickly normalize as the smart money and the world’s central bankers step in to reassure the public that the situation is under control.

“Traders in London, the smart ones, told Fortune overnight and this morning that they are using the kerfuffle over Brexit as a buying opportunity. They believe the European Central Bank will step in soon to prop up the euro following the Bank of England’s announcement earlier in the day that it stands ready to inject up to 250 million pounds into the UK banking sector. Those thinking long-term believe that this will cause the U.S. Federal Reserve to engage in yet another round of “quantitative easing” in a bid to weaken the dollar, which has grown wickedly strong in all this mess. But after the initial shock fades, it will be up to the politicians in London and the various European capitals to decide how exactly Brexit will take place. While the process may take many years, the result will be a net positive for Europe, as it will now finally be able to move forward and pursue a path to greater political integration among its members. The UK will be part of the common European market but be free to be the UK in other areas of state. “Nevertheless, for a few misguided investors, Brexit is the sum of all their economic fears compounded in one shocking little package. “How could the UK leave Europe?” they ask. Well, actually, quite easily. The UK never truly committed to the idea of a single Europe, nor did it ever try to integrate itself completely into the European system, either. This noncommittal approach manifested itself in dozens of ways, from the UK’s failure to adopt the euro (and the metric system), to its insistence on keeping its borders in place by opting out of the Schengen accords. Sure, other nations have opted out of one major EU directive or another, but the UK has opted out of all the big ones and was vehemently against any further attempts of political or social integration. At the end of the day, the UK will always be the UK first, not second, and therefore it has always been a question of when, not if, the island nation would leave the EU to do its own thing….” http://fortune.com/2016/06/24/brexit-uk-europe-eu-london-future/