Brexit. You've probably heard that word and seen it circulating on the Internet recently. But is it clear to you what Brexit is all about?  The buzzword is a reference to a vote that will take place Thursday on whether Britain should leave the European Union.

Britain's potential exit could have huge ramifications, not only for Europe but also for the world. And in his latest segment from "Last Week Tonight With John Oliver," the British comedian breaks down what Brexit is all about and why Britain's potential exit from the European Union would be, in his opinion, "insane."

As Oliver points out, President Obama and the leaders of India, Japan and China have all stated that they are against Britain's leaving the bloc. And a major supporter of Britain's leaving is the U.K. Independence Party (UKIP), a right-wing party best known for its strong anti-immigration stance. Yet, as Oliver shows, misinformation and distrust of authority have clouded the way people understand what a post-Brexit economy could look like.

Watch the clip below:

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On June 23, Britain faces a fateful decision: whether or not to leave the European Union. And the world will be watching. (Daron Taylor, Jason Aldag, Danielle Kunitz/The Washington Post)