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OPINION

Will West Fall With Brexit?

The opinions expressed by columnists are their own and do not necessarily represent the views of Townhall.com.

People are becoming more afraid and the thing about fear is that once unleashed, it can feed on itself. "Fear begets fear" is often seen as a contrarian indicator in sync with the notion that the crowd is always wrong and the emotionally-driven crowd is always extremely wrong. For now, there is so much confusion the better part of valor is to sell first and ask questions later.

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Bit Coin to the Rescue
Market weakness began last week. While we all had heavy hearts, yesterday’s selloff was just an extension of anxiety that bloomed after another rally failed to clear key resistance points.

Part of this anxiety is basic concerns about first world nations being able to avoid disaster. I’m not talking about the occasional market crash that happens from time to time, but the end of the road for economies from America to Europe and Japan. China is a different case, due for its comeuppance, but perhaps best positioned for the next one hundred years.

While the VIX index points to near-term worries, I think Bitcoin is more of a proxy on geopolitical risks and the notion that central banks and planning don’t work anymore. Add in the increasing probability England bolts from the EU, and a western meltdown from stocks to currency is a real worry. Maybe it’s not the end of the world, but it could be that thread that puts to bed hopes of a United States of Europe and cements the continued greatness to the record books of the past.

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I haven’t bought into Bitcoin yet, although I see a world of crypto-currency in our future.

I’m not a fan of panicking, and I think this phase of concern will pass, and as it does it will create buying opportunities. The Fed begins their two-day meeting, but there will be no rate hike; although, it will be fun to watch the verbal gymnastics needed to justify hiking rates next month.


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