British citizens sent a strong no confidence vote in the European Union in a surprise Brexit (BRitish EXIT from European Union). This is an extremely important technical step in the breakdown occurring in the global financial markets.
“This is the worst period, I recall since I’ve been in public service,” Greenspan said on “Squawk on the Street” Friday Morning. He went on to say “There’s nothing like it, including the crisis — remember October 19th, 1987, when the Dow went down by a record amount 23 percent? That I thought was the bottom of all potential problems. This has a corrosive effect that will not go away. …euro currency is the immediate problem.”
For a bit more context to the underlying issue, please review the “The Currency Markets Are Breaking Down Now” webinar.
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Chief Market Analyst, ITM Trading