Lostnq8: per fox - bookies betting that britain will stay in the EU - word on the street is 50/50 so hard to say what is happening - BBC advertising to stay…. we may know by 10pm tonight - expecting major market impacts if they leave and nothing happens if they stay
Herb: The EU is like the FED they like to control. The RV will alloweach country to use their own currency at a fair value that is what it is all about...
Zeejaybee: A perfect storm... she's a brewin' check this out…. the cabal cannot prop this market up forever Link
Zimber: MORE AND MORE COUNTRIES USING YUAN FOR CURRENCY RESERVES..... Link
Zimber: Traders Gear Up For An All-Nighter Ahead Of Brexit Results
by Tyler Durden - Jun 23, 2016 1:00 PM
As all eyes turn toward Britain's historic referendum on whether or not to stay in the European Union Thursday, traders are making plans to pull an all-nighter.
"All the trading desks are in war-preparation mode. Volatility is expected to spike up potentially more than during the Swiss unpeg event and volumes to potentially overwhelm them and their systems" said Frederic Ponzo, managing partner at GreySpark Partners, a financial consulting firm in London.
CharlieOK: Just reported on Fox Bus. that all 33 "big" US Banks passed the stress test. A stress test, in financial terminology, is an analysis or simulation designed to determine the ability of a given financial instrument or financial institution to deal with an economic crisis.
Elmerf123456: Does this come as a surprise to anyone ? https://youtu.be/rMC0gcEH1DU
The voting machines decided not to count the votes that had crosses in them which means they don't count because the machines don't register that as a vote. Britts are used to making a crossmark versus an X Mark how convenient! What the world just need is another controversy. Oh brother lol.
OffGrid: This S&P 500 Death Cross Could Be The Real Deal ...
GJHHonor: France, Italy and the Netherlands now want their referendum too
Greentree: Just saw this in an article on CNBC: With all of that uncertainty rushing around, a British exit would likely result in a massive rebalancing of currencies. http://www.cnbc.com/2016/06/21/uk-brexit-what-you-need-to-need-to-know.html
rcookie A RETURN TO PARL IS NECESSARY TO VOTE ON THE LAWS AND INITIATIVES...THE MOST IMPORTANT SHORT TERM IS TO VOTE ON 2016 BUDGET LAW SO THE SBA LOAN MONEY IS ACCESSED AND DISBURSED...
Q: [Do you think they can get all the laws needed passed in one session?]
Rcookie: YES...I DO ONCE THEY GET BACK...THEY ARE CUED AND WAITING...
Planning Your Brexit Night: Here Are The Key Events And Times To Stay Awake
by Tyler Durden - Jun 23, 2016 1:37 PM
While we previously posted a comprehensive guide to today's Brexit vote, as we approach the close of polling and enter the evening hours (in the US) and night (in the UK), the main question is which are the specific events that merit particular focus, if only for the benefit of FX traders who are sure to pull an all-nighter with hopes of sneaking in a few naps here and there.
Conveniently the Guardian has compiled the following guide breaking down "when to nap and the places to watch", highlighting the biggest turning points in tonight's events.
6 Asset Protection Strategies To Shield Your Wealth
Robert Pagliarini , Contributor
I focus on the financial and psychological issues of sudden wealth.
Opinions expressed by Forbes Contributors are their own.
Have you heard of the homeless man who was sued for $5.5 million? Of course you haven’t. Lawsuits aren’t filed against those with few assets; they are filed against those with “deep pockets.” If you have substantial assets or are coming into a windfall from a sudden wealth event such as an inheritance, lawsuit, stock options sale, business sale or from a sports/entertainment contract, there are several money moves you should consider to best protect your new wealth against lawsuits and from others.
1. Increase your liability insurance. Your first line of defense in litigation should be insurance. Call your insurance broker and increase your liability limits. Make sure your personal umbrella liability coverage is for an amount at least equal to your new net-worth. For example, if you are going to receive $3 million from your Aunt Jane’s estate, tell your insurance broker that you want a $3 million umbrella liability policy. Rates are inexpensive – often $200 or $300 per $1 million of coverage. Bruce Givner, a Los Angeles tax attorney, recommends that his clients have a minimum of a $5,000,000 umbrella policy, and most of them opt for $10,000,000.
Tip: It’s best to make this five minute phone call before you receive the inheritance or windfall.
2. Consider keeping assets separate. Depending on the state in which you live and the source of your windfall, if you deposit the money into a joint account with your spouse, this money could instantly become half theirs. For some, this isn’t an issue, but for others, this could pose a problem. For example, if you have children from a previous marriage and commingle an inheritance you receive with your new spouse, your children may get less than you expect when you pass away. This problem becomes even more damaging if you are contemplating a divorce.
Tip: If you don’t want your spouse to have ownership of your windfall, talk to an attorney and keep the assets in a separate account.
3. Protect yourself from renters. If you have rental property or expect to invest in rental property after receiving your sudden wealth, create a business entity such as an LLC or corporation to shield your other assets from a disgruntled tenant. By doing this, if your renter sues you for $5 million, they can attack the assets in the entity that holds the real estate but the rest of your personal assets are protected.
Tip: Create a separate business entity for each rental property or consider a Nevada or Delaware Series LLC, which is designed to protect each property within a single LLC.
Recommended by Forbes
4. Review all jointly held accounts. Any money you deposit into a joint account with your children, elderly parents, roommate, or business partner is at risk. If the joint owner files for divorce, incurs a tax lien, or lawsuit judgment, the entire account could be wiped out.
Tip: If there is a need for a joint account, keep the balance as low as possible.
5. Formalize informal partnerships. Business partnerships are ticking time bombs. Why? Just like joint accounts, you are responsible for the actions of your partner. But unlike a joint account, a lawsuit against your partner can put all of your assets at risk. For example, suppose you and a friend have an informal agreement to partner and provide consulting services. If your partner is involved in an accident on the way to a client, your personal assets can be in jeopardy.
Tip: Avoid partnerships. Form an entity such as an LLC or corporation to provide you with legal protection.
6. Create business entities to shield assets. If you have a small business or do part-time work on the side without having a formal business structure such as an LLC or a corporation, you are operating as a sole proprietorship. The “sole” means it’s just you, so unlike a partnership, you don’t have to worry about a partner’s actions . . . but all of your personal assets are at risk if you are sued.
Tip: Create a business entity that shields your personal assets from lawsuits against your company.
Sudden wealth can be a life-changing experience that can improve your life and the lives of those around you, but only if you keep it. Those with more assets are bigger targets for lawsuits. Don’t let your sudden wealth suddenly get stripped from you. Protect your assets before you get the windfall and you will sleep a little easier knowing your assets are better shielded.