What is Brexit, how does Brexit affect you and will Brexit cause a market crash? Patrick Bet-David tells you everything you need to know about Brexit in this episode. Subscribe to Valuetainment for new uploads: http://bit.ly/2aPEwD4
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look to the most important cities worldwide that are linked to every single economical market you can think about when anything happens everybody looks at these two cities one of the ones is New York City which by the way New York City is now the financial capital of the world only for the last few years and it's been around only for 120 years if you think about it New York City right the other one is London London is the financial capital of Europe and it's number two only to New York City and it's been around for 2,000 years and it was the financial hub since Middle Ages by the way a couple hundred headquarters of companies that are not out of UK they're out of other countries they're based in London that's how powerful London is and this is why every time you turn on the television you hear Breck's it breaks it breaks it breaks it breaks it breakfast breakfast so what is breakfast so today in this video we're going to talk about what is brexit what's in you purpose of starting the EU who's in the EU that they vote for breaks it benefits abstain benefits of leaving and my thoughts whether this is a good idea or not and what the consequences will be if they do brexit so before we get into brexit if this is your first time visiting this channel value tell me we are the number one channel on YouTube for entrepreneurs we got lot of different videos around a thousand videos on how to hire fire scale raise money dating as an entrepreneur lot stuff for your wife to watch our husband to watch if you're an entrepreneur a lot of technical or fun stuff great interviews as well if you haven't yet subscribe to this channel please do so having said I'll let me get right into it so what is brexit what breaks it is British exiting EU so Britain wants to leave EU and be their own country right now what is you in you is European Union you keep hearing about it but you now sometimes you hear something and you kind of think you know what it is but you never question what it is because you don't want to act like maybe I don't know this stuff so I just kind of act like I know what you is who's even into you I don't even know what's into you how I did it even you get started how long have you been around so brexit is britain exiting EU EU is European Union so what is the purpose of starting EU right we keep hearing about it but why did they start you it's very simple it's actually two reasons number one reason was peace because they had just come out of war again World War one from 1914 to 1918 customs 17 million lives and then they have the second war from 1939 world war two to 1945 70 million lives they're sitting on the same you know how many family members I've lost how many friends I've lost how many call it Spears we do not want to go through another World War three so number one reason was peace the second reason was economical what if all of our nations collectively can start working together and creating one market and this idea was pitched by Robert Schuman the former Prime Minister of France here's what he said when he came up with this idea of ECSC in 1951 he said the treaty is created with the idea to make war not only unthinkable but materially impossible so they wanted to make it mathematically impossible to have another war and on top of that they created this treaty to create a common market for coal and steel among its member states which serve to neutralize competition remember that key word we're gonna come back to it neutralized competition between European nations over natural resources so very simple you got two reasons one you got peace the other one you got economical right so they came out with the ECSC in 1951 established by Treaty of Paris signed by six nations Belgium France Italy Luxembourg Netherlands and West Germany then that transition into 1957 which was a Treaty of Rome the idea of Treaty of Rome was to make it a single market which means you know I can do business in Germany it's not really another country you know it's pretty much the same like yet right now I'm in US and if I want to do business within Mexico I have to go get establish in Mexico then I have to do business in Mexico it's very complicated for me to go through it the Treaty of Rome was look if you want to come to business or it's easy it's not gonna be that complicated then they did that in 1957 and eventually in 1993 EU was created so if you look up when did you get created the actual year is 1993 right so that's the history of why they started you and how they started you now the next question some people because Pat it's a simple question who's part of the EU today how many total nations are there it's 28 different countries and here's a list of countries you got Austria Belgium Bulgaria Croatia Cyprus Denmark Estonia Czech Republic Finland France Germany Greece Hungary Ireland Italy Latvia Lithuania Luxembourg Malta Netherlands Poland Portugal Romania Slovakia Spain Sweden and last Bonelli's United Kingdom those are xx countries now the next question is when they voted for brexit what did they vote like here's what I bought it like 51.9% voted to leave 48.1% voted to stay but the question is who wants to stay who wants to leave because when you look at United Kingdom it's really four different countries you got Northern Ireland which does not want to leave they want to stay blue means they want to stay you got Scotland who has no reason to want to leave they want to stay because they need the EU and Wales wants to stay but if you look at the red England wants to leave right so that's how was voted by the way old voter to leave young wants to stay that's how the demographics looks like when it came down to voting for bricks but they voted for it and the vote is 51.9% want to leave the EU okay so now you may be watching this and well Pat if the vote was dramatically 70 30 bricks that I get it but it's only fifty one point nine percent to forty eight point one so the people that don't want to lead there's got to be obvious reason for it and there's benefits to it and the people that want to think there's got to be benefits there so what are the benefits of leaving and staying so let's focus on that first thing we're going to talk about as the benefits of staying and not breck sitting staying part of the EU the number one benefit that a lot of the young keep talking about is the idea and the freedom to live travel work retire anywhere in Europe so think about it living in the u.s. you want to go somewhere you want to come into u.s. how hard it is to get a visa right so in Europe because of the EU I don't need a visa to go on Croatia let's just say I live in Crozier I'm gonna go work out Belgium I don't need to get an approval I don't need to get a work permit I don't need to do any of that stuff I can go work there I can go live there I can go retire in different place and don't have anything to constantly have to worry about passport any of that stuff travel what's it's very simple it's very basic to do it the concern is if they breaks it some of the British people that are living abroad or living in another place what happens today what's the technicalities of that how is that going to be handled those are some of the concerns they have that's what there's some let you stay next one is it's been estimated that 3.1 million British jobs are linked to UK export to the EU meaning other nations outside of UK what are they gonna do without 3.1 million jobs many EU company headquarters like I said earlier reside in London which may have to leave if brexit takes place because then how does that work out are you gonna let me stay now I don't have the whole willing to work or retire have headquarters anywhere maybe I'm not gonna be in London in Romania maybe I want to take myself back to Germany back to France back to Italy back to a lot of these places and that could affect so many tens if not hundreds of thousands of jobs in London and UK do they want to risk that next less likely to get ripped off this is why it's less likely to get ripped off because one of the things about EU is there's a level of accountability when you're buying the products from each other because the accountability the organisation that holds everybody accountable is EU so there's less likely to get ripped off when you're buying a product and collectively they become the third largest military in the world individually they wouldn't be and be a bigger threat going back to war worries of another war getting started so that's that's the benefits of staying and by the way there's a there's a longer list of benefits saying I'm just giving you a few them here for you to be thinking about now the benefits of leaving the EU and not staying here's some of them number one create your own economy because right now every time UK wants to do business deal with China or with us they have to go through EU to get it approved but if they separate and they create their own economy they can negotiate with us with China without needing ears approval due to trade agreements that doesn't need to be taking place now they can do it on their own right the second thing immigration this is kind of a technical because we're dealing with some of this in America but in Europe it's a whole different story what the concern is with some of the folks in UK that are voting to brexit immigration this allows UK to choose the number of immigrants they accept to come and live in UK rather than being forced by EU because you know somebody may watch this and say well that's not fair because EU doesn't force UK to take immigrants well if you remember how the EU works say UK doesn...