As I write this, the DOW is down 531 points. Does that mean that Britain exiting the European Economic Community was a bad idea? No, nor does it mean that it was a good idea. It means that investors don’t know what it means and that causes market panics.

The looming fear is that this could be just the beginning of the disintegration of the EEU.  France could leave, Italy could be next. Every EEU member has their gripe against Brussels, which is the administrator of the Union and writes the regulations by which all members must operate. The herding of cats comes to mind and there is no way to please everyone, as we know after 240 years of Democracy.

What is different these days is that we have lost the art of compromise which is the heart and soul of Democracy. We no longer value truth, integrity nor negotiation. We seem to have forgotten that unity is always preferable to division for everyone. Our markets have become a medium of speculation rather than investment.

So far, the one constant is that the American dollar is considered safe and stable. Funds are flooding into Treasury securities from around the world and driving interest rates down even further.

As you know, we have been anticipating this type of instability and our investments are either completely sheltered or well hedged against loss. Please call me with any questions.