The “consensus” view on Brexit (as described by all those who thought Remain would win), is that it is a clear case of economic self-harm, and a victory of fear over confidence. Much was made of the fact that under 35s were overwhelmingly in favour of Remain, though less than 4 in 10 bothered to vote. They have better formal educations no doubt, though they’re clearly not smart enough to know that clicking “Remain” on a Twitter or Facebook poll wouldn’t count on the day. To that end, we were personally astounded at how clear the English voice on this contentious decision was. The vote ex Scotland was a decisive victory for the Leave campaign, despite the sometimes hysterical warnings, including the IMF who spoke of “permanent” damage to the UK economy. To me the bigger question is why would the very same people who just 30 years ago warmly embraced the dream of a United Europe now turn their back on it. Thoughts on the vote itself, the reaction, and its impact on gold & other markets here (VIEW LINK)