Tuesday Testimony – Soros on Brexit, Yellen on the Hill

"Day after day, Head in a cloud
The man of a thousand voices
Talking perfectly loud

"But nobody wants to know him
They can see that he's just a fool
And he never gives an answer" 
- Beatles

As we wait for Janet Yellen's semi-annual testimony before Congress, the UK Government is pulling out all the stops for the Remain camp, including well-known currency manipulator, George Soros and well-known ball manipulator, David Beckham.  Many people will analyze Soros' BS so let's concentrate on what a really handsome, rich guy has to say:

I was also privileged to play and live in Madrid, Milan and Paris with teammates from all around Europe and the world. Those great European cities and their passionate fans welcomed me and my family and gave us the opportunity to enjoy their unique and inspiring cultures and people.

We live in a vibrant and connected world where together as a people we are strong. For our children and their children we should be facing the problems of the world together and not alone.

See, Europeans are nice, we should play with them!  Of course, I'm not sure if reminding British Soccer Fans about other European teams is the best way to promote love and brotherhood…  As usual, the Remain camp pushes the "safe" and "comfortable" angle because they have already lost the factual, economic and political arguments.  The Remain campaign is all about fear of the unknown – even though the unknown, in this case, is simply going back to the way things were, pre-EU.

Brexit has been a fun distraction for the past month but it's not the only reason we cashed out many of our long positions on the 8th.  Yellen had spoken that Monday (6th) and the market ran back to the highs and we took our money off the table, avoiding the subsequent drop – very clever in retrospect.  As I noted in
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