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Ron Paul: Brexit Is A Crushing Blow For Global Banking Elite

Ron Paul: Brexit represents a crushing glow for the global banking elite

Ron Paul has said that last week’s vote for Britain to leave the European Union represents a huge blow for the global banking elite.

According to Ron Paul, the UK’s decision to leave represents the beginning of the end of the European Union in which ordinary people will thrive, and the elite will suffer.

Thefreethoughtproject.com reports:

On Friday, the people of Great Britain made their voice heard. They no longer want to be a part of the European Union and for good reason. For decades they have sat back and watched the global elite enrich themselves through special trade agreements ostensibly designed to bolster the economy, but in reality grant special treatment to those close to the top.

George Soros exposed the dependence of the elite on the EU when he took to fearmongering about rampant financial collapse upon Brexit.

“The Brexit crash will make all of you poorer — be warned,” Soros penned in an op-ed for the Guardian on June 20. “My 60 years of experience tells me the pound will plummet, along with your living standards. The only winners will be the speculators […]

“A vote to leave could see the week end with a Black Friday, and serious consequences for ordinary people.”
However, as Ron Paul so aptly pointed out on Friday, the people’s suffering will be minimal. It is the banking elite who are running scared.

“Other countries are watching….This is the beginning of the end of the European Union…and nobody is going to suffer from that. Only the wealthy, banking, special interests will suffer any from this,” said Paul.

And he is correct.

On Friday, Britain’s biggest banks faced double-digit losses on the stock markets, with shares plunging. Barclays dropped by 23.08% to $8.60, HSBC shares dropped 7.35% to $31.25, Royal Bank of Scotland sunk a whopping19.63% to $6.02.

In the US, JPMorgan Chase shares were down 6.26% to $60.04. Bank of America shares fell 6.34% to $13.15, Citigroup shares dropped 8.3% to $40.77, and Wells Fargo dived 4.7% at $45.66.

The big investment banks were also hit hard with Goldman Sachs shares down 5.26%, and Morgan Stanley shares dropping 8.57% to $24.94.

The global banking industry is entirely dependent on centralization of power to keep their balance sheets in order as their model requires a controlled economy. However, as Brexit has already shown, this model is not in the interests of the people. As nations continue to declare their independence, the cartel will crumble.