Sorry for misunderstanding you Mike. This is not money coming out of sterling, it's money coming out of ALL assets. I'm glad this is obvious to you (and of course it's obvious to me else I wouldn't have been saying it) but my view has previously been met with quite a lot of scepticism here. I wanted to point out that capital flight is actually happening right now.
I don't agree that it's an inevitable consequence, this is entirely avoidable!
My final post on this subject you will be relieved to hear
Once a referendum was called it was inevitable to a greater or lesser extent. Some of the flight, however much it is will be institutions looking to profit from the uncertainty. It's a massive trading opportunity.
I don't think anyone is disputing that there will be short term financial consequences. The question is what will be the long term result if we exit and what may happen if we remain. There are risks in both. Frankly I don't think anyone can say with any certainty and even if there is some economic loss is it a price worth paying. In fact who would be paying this price if it did occur, the discussion could go on forever as it is speculation. Perhaps profits would be hit for a few large companies, perish the thought.
Whenever even small changes are made in policy there are unforeseen circumstances so one thing is for certain it would be turbulent if we left but it may be less turbulent in the future.
You could equally argue that if we stayed in, the EU would have a greater chance of surviving but I tend to think that we are growing further apart as a consequence of rightly not being in the single currency and this combined with our other opt outs already had us on the outside of the tent.
Time to go I say but I don't know if I'm right.
To be clear I don't want less immigration but I want it controlled and greater diversity. Greater diversity and mixing of people and cultures will improve our lives and security as tolerance and understanding is improved. It is why I have issue with the assumption that voting out is considered anti immigration. It is for some and I can understand the argument of cheap labour driving down wages, again this has good consequences and bad ones.
One of the selling points of the EU is the greater security of the bigger tent. I believe this security is false as recent events have shown, yes we should share information and help our neighbours but we should also be open to the world and show them that we are.
I'm out of this debate on here now and wish everyone good luck with what is a very important, complex and difficult decision.
I have 2 weeks left to make my decision and shall spend it looking for reasons to change it, not confirm it.
Edit: About time Andrew Neil got pensioned off, sorry sacked.
He is ruining any debate and is objectionable. His method of interview is to have a preset list of questions which he continues to go through, repeatedly, despite the answers given. Treats both sides badly. Disgraceful!
Mike
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