BREXIT . . .

I do not understand all this hoopla over BREXIT.  I agree some big US banks may and I repeat may be impacted but nothing else.  Airfares to United Kingdom (UK) may be down for a while but that will adjust pretty quick.  So why depress the remainder of the stock market?

I think BREXIT is only a stimulus to impact the US's weak economy ala Obama's ineffective fixes.  BREXIT is more about sovereignty of the UK than financial fiasco.  The Brits are just taking back their country from European bureaucrats that were essentially unelected rulers.  They did not want further increases of Muslim/Arabic people freely entering their already overcrowded island nation.  There were several thousand camping in France with the specific intent to get into the UK.  Now that will not happen.  So the UK was essentially taking back their own destiny from non-islanders located in places like Brussels, Paris or Luxembourg.

The UK will escape the bickering over Greece and their economic excesses.  Similar problems exist in France, though less so, but more so in Portugal, Spain and Italy economies.  And then there are group of little island nation states like Malta and Cypress (Cypress has already like the Greeks gone though a default of sorts).  So there are a host of inequalities in and amongst the European Union EU).

United Kingdom will continue to be a good friend and ally in Europe to both us and the continent.  NATO is not a function of the EU though many confuse the two.  For instance, both the US and Canada are members of NATO and have nothing to do with the economy or the Euro coinage in Europe.  They are not synonymous, while currently related, they are not the same.  One is military alliance and the other economic merger.  UK remains a charter member of NATO and is a strong military contributor to the military strength of NATO while neither Malta or Cypress have little or nothing to do with NATO.

I know for a fact that Luxemburg's contribution to NATO is one battalion of troops, a mere pittance compare to the US and the UK.  And since the Iron Wall has fallen there are new members of NATO such as Poland and Hungary as well as the Baltic States.  As I recall Austria is not a member of NATO and neither are the Swiss but they will align with NATO if threatened.

So do not confuse military strength with the potential collapse of the EU.  The EU is concerned with money not defense.  So even if the EU were to totally collapse, it would not mean a demise of NATO.

Even though the UK was a member of the EU they steadfastly refused to use the Euro and remained with the pound Sterling as their currency.  You would get your bill at a hotel in both denominations but had to pay in pounds.  Each of those EU nation states had their own tax system, while many were had similar tax systems they were not all the same nor have the same rates.  So a lot of the separation will not effect coinage, their no UK Euros floating around like Malta or Greece or Portugal.  The Euro is common to all those nation states with the sole exception being the UK.

I applaud the UK's determination to withdraw from the EU.  They have decided that they are British, not common Europeans.  That was vote for liberty.