And so "Black Monday" begins......?
SIDE NOTE: I am continuously editing this article as more and more info is coming out.....
Further Updates being ADDED to the BOTTOM of the article
LIVE coverage of Greece being made a Patsy:
http://www.theguardian.com/business/live/2015/jun/29/greek-crisis-stock-markets-slide-capital-controls-banks-closed-live
Just how much of a Patsy? Well judging by the outright lies of Juncker being spewed at this very moment in a televised press conference, a HUGE Patsy.
..... Don't forget who started all this mess to begin with!!!
Goldman Sachs
And who is the head of the ECB (EU Central Bank)- Mario Draghi"Mario Draghi, formerly vice chairman and managing director of Goldman Sachs International. As incoming head of the European Central Bank, Draghi has been responsible for pouring €1 trillion of easy money into a tottering European banking system. You can call that a rescue operation if you like — but what exactly is being rescued? The collapsing banks and irresponsible governments most responsible for the current crisis. The firms and institutions who form Goldman’s crucial European client base, in fact."http://planetponzi.com/blog/goldman-friends
BUT WAIT!!!! There's MORE!!!
Coincidence? I Think NOT!!
China-led AIIB development bank holds signing ceremony
China has hosted the signing ceremony of the Asian Infrastructure Investment Bank (AIIB), a new international financial institution set to rival the World Bank and Asian Development Bank.
Delegates from 50 countries signed articles that determine each member's share and the bank's initial capital.
The UK, Germany, Australia and South Korea are among the founding members....
http://www.bbc.com/news/world-asia-33307314
http://www.bbc.com/news/world-asia-33307314
...Which might have some people cheering, but.......
Chinese Stocks Crash Most In 19 Years, Re-Open Limit Down (Despite PBOC Hail Mary)
Carnage...
- *CHINA STOCK PANIC SELLING TO CONTINUE, CENTRAL CHINA ZHANG SAYS
This leave China's CSI-300 broad stock index futures up just 7% year-to-date...
- *CHINA CSI 500 STOCK-INDEX FUTURES FALL BY MAXIMUM 10% LIMIT
- *CHINA CSI 500 STOCK-INDEX FUTURES FALL BY LIMIT FOR 2ND DAY
- *HKEX DROPS AS MUCH AS 7.3%, MOST SINCE SEPT. 2011
- *SHANGHAI COMPOSITE INDEX EXTENDS DROP TO 7.5%
- *SHANGHAI COMPOSITE HEADS FOR BIGGEST 3-DAY DROP SINCE 1996
Carnage-er...
- *CHINA'S CSI 300 INDEX FALLS 3.4% TO 4,190.3 AT BREAK
- *CHINA'S SHANGHAI COMPOSITE FALLS 3.8% TO 4,035.48 AT BREAK
- *CHINA'S CSI 500 STOCK INDEX FUTURES EXTEND LOSSES TO 5.7%
- *CHINEXT INDEX PLUNGES 7.8% FOR 3-DAY 20% SLIDE
After The People's Daily proclaimed... "investors were moved to tears" thanks to the PBOC's actions...
http://www.zerohedge.com/news/2015-06-28/chinese-double-rainbow-rate-cut-fails-reignite-rally-grexit-fears-weigh-global-marke
And if that isn't enough to raise your eyebrows, how about this:
Officials From 65 Countries Met at a Security Summit in 'Isolated' Russia
Cooperation between defense and security agencies, the aftermaths of emergency situations, and drug trafficking prevention were high on the agenda along with fresh water as a strategic resource
And just to drive home the reality of the shit storm we are watching unfold....
While everyone was distracted and screaming about confederate flags and gay marriages..... the US federal government quietly fast tracked the TPP- giving Obama ABSOLUTE power, and California State government Fast tracked and PASSED the "manditory vaccine" Bill.
d
Juncker press conference on Greece
Heads-up. Jean-Claude Juncker, president of the European Commission, is discussing the Greek crisis now in Brussels
Pensioners in Greece’s second city, Thessaloniki, also queuing at their banks this morning in the hope of getting funds - but no luck:
Looks like Greek cash machines are up and running under the new regime of capital controls:
ΑΤΜs now working in #Greece, withdraw limit is 60€ [this does not apply to foreign bills] pic @MakisSinodinos
Peter Spiegel
Paragraph in @atsipras letter to PMs requesting (again) bailout extension. Full letter here: http://on.ft.com/1JsGsgv
http://www.marketwatch.com/
NOW..... watch the market manipulation in action!!!!!!!! Watch the US market very closely and you are going to see some really fancy side steps and slight of hand tricks.....
New York opens in ,....
NEW YORK MARKETS OPEN IN: 1:18:23
Greek Contagion Spreads As Several Italian Bank Stocks Failed To Open
While things have normalized since the open thanks entirely to the SNB's aggressive EUR-buying, CHF-selling intervention (good to see that central banks have read the BIS' report and have learned from their prior intervention mistakes), earlier this morning we got a snapshot of what happens if and when the SNB, and then the ECB itself, finally lose control when as a result of the Greek crisis the contagion promptly spread a few hundred kilometers west to Italy where as the WSJ reported, "several Italian banks failed to start trading on Monday as fears over a Greek debt default induced many investors to shed peripheral stocks, including Italian, with banks suffering the most."
As the paper reported sales orders on Italian stocks, in particular financial stocks, piled up before the market opening. At the start, the sales orders were so numerous that the system couldn't manage to process them, something that often happens when specific news causes a sell-off on a stock.
http://www.zerohedge.com/news/2015-06-29/greek-contagion-spreads-several-italian-bank-failed-open
As of 1:49pm BDT- Italian Bonds 10 yr have dropped 9.65%
- An exchange-traded fund tied to Greece was hammered in premarket trade on Monday. The Nasdaq-listed Global X FTSE Greece 20 ETF , which seeks to replicate the performance of the FTSE/Athex 20 Index, dropped 17%. Greek Prime Minister Alexis Tsipras called for a referendum on the nation’s international bailout that potentially sets the stage for the country to exit the eurozone.
Puerto Rico Bonds Are Collapsing
With all eyes focused on Greek ATM lines, collapsing Chinese ponzi schemes, and European bank implosions, one could be forgiven for forgetting about another crisis occurring closer to home. As we detailed here, Puerto Rico is now "in a death spiral" and PR bonds are collapsing this morning...
"Surprise"
http://www.zerohedge.com/news/2015-06-29/puerto-rico-bonds-are-collapsing
DOW and Nasdaq Tank on NY Open
Like I said: Watch for the illusions (and the bullshit spin)- my highlights in blue
With Wall Street now open, America is now joining in the global sell-off. Our correspondent Rupert Neate reports:
US markets fell sharply on Monday morning as fears about a Greek exit from the Euro spread across the Atlantic. The Dow Jones, S&P 500 and Nasdaq were down as much as 0.9% shortly after the markets opened. Nearly all world markets fell on Monday, with most suffering much greater falls than the US, whose economy has little exposure to Greece.“A week ago, it seemed very likely that we were close to having a resolution, and now all of a sudden we’re waking up to capital controls?” Leo Grohowski, chief investment officer at BNY Mellon Wealth Management, told Reuters.
Oh and More "Illusions" and slight on hand.... or slight of algorithms.
Grexit Is Good - Dow Transports Ramp Back To Unchanged
See! Greece doesn't matter... nor does China... nor does Puerto Rico...
Or maybe it's just manipulating algos...
Puerto Rico’s Governor Says Island’s Debts Are ‘Not Payable’
Puerto Rico’s governor, saying he needs to pull the island out of a “death spiral,” has concluded that the commonwealth cannot pay its roughly $72 billion in debts, an admission that will probably have wide-reaching financial repercussions.
http://www.nytimes.com/2015/06/29/business/dealbook/puerto-ricos-governor-says-islands-debts-are-not-payable.html?ref=business
http://www.nytimes.com/2015/06/29/business/dealbook/puerto-ricos-governor-says-islands-debts-are-not-payable.html?ref=business
Citigroup leads losses for major U.S. banks
U.S. bank stocks fell more than 1.5% in early trade, dragged down by the Greek debt crisis.
J.P. Morgan & Co. JPM, -1.87% was down 1.8% to lead the decline, while Citigroup Inc. C, -2.31% and Bank of America Corp. lost 1.7%, Goldman Sachs Inc. GS, -2.04% lost 1.5%, and Morgan Stanley was down 1.6%.
Default countdown? European banks lose €50bn as Greek debt deadline nears
The market value of European banks has shrunk by more than €50 billion after Greece shut down its banks until July, 6, the day after the referendum on the bailout deal is held.
Among the biggest losers is Portugues Banco Comercial down 9.1 percent, and Italy’s Banca Monte dei Paschi di Siena which slumped 7.2 percent. Spain’s Banco Popular Espanol has lost 6.5 percent and Banco de Sabadell was down 5.4 percent...... DAX of Germany has suffered the most, falling 4.17 percent this morning. In Asia, where trading finished by the time of publication Shanghai Composite showed the worst result, closing at 3.34 percent lower.http://rt.com/business/270325-greece-debt-market-slump/
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