Dow futures down 226 (Greece shuts down the banks)

cnnmoney ^ | 6/28/2015 | cnnmoney

[Signalman]

Greece shuts banks in bid to prevent collapse.

[BipolarBob]

NOOOOOOO!!!!! Tomorrow’s Bloody Monday.

[RayChuang88]

It was down 321 at one point, but has recovered back to down 221 because people are realizing a Greek default is NOT the end of the world.

[Bogey78O]

It’s the end of some folks world. The market is moving things around to see who gets stuck in the cold.

[Steely Tom]

This after their members of parliament spent the day removing cash from the ATM at the parliament building.

Banks weren’t closed for them.

[barmag25]

Im sure there are US cities with a greater economic output than Greece.

I don’t think its the end of the world.

[Jane Long]

....members of parliament spent the day removing cash from the ATM at the parliament building.

Banks weren’t closed for them.

---

Pathetic.

Why am I NOT surprised?

[allendale]

Milton Friedman was absolutely correct. You cannot consume more than you produce and remain sustainable. Conservative attention has centered on the decadent and hedonistic SCOTUS decisions. However an $18 trillion dollar Federal debt, another $7-10 trillion of state and municipal debts, $100 trillion in unfunded government liabilities is a cancer. A President who is anti capitalist, issues thousands of stifling rules and regulations that discourage productive entrepreneurship and leads an anti carbon energy crusade is a disaster for the American people. Financial gimmickry will not save the country.

[Bobalu]

It’s a stunt that our own House and Senate would pull.

[Vince Ferrer]

The lesson here is to make plans early. Don’t be the guy waiting all weekend desperate for the ATMs to start working.

[RayChuang88]

This why I detest web sites like Zero Hedge and SHTF Plan--they spread panic for all the wrong reasons--or at least is trying to induce a panic to sell things like physical gold or silver. Just help me!

[PGalt]

Socialism is unsustainable.

http://www.usdebtclock.org

http://www.usdebtclock.org/world-debt-clock.html

Witness history. Witness current events. Death & Plunder.

[Mark17]

It’s a stunt that our own House and Senate would pull.

I think it's a stunt they WILL pull, in the future. What happens, however, if the government cancels the currency? Does Greece have a 2nd Amendment? If so, it could get interesting.

[fwdude]

NOOOOOOO!!!!! Tomorrow’s Bloody Monday.

How fitting that it should follow Wicked Friday.

[BipolarBob]

I don’t think its the end of the world.

It's gotta start somewhere.

[hinckley buzzard]

Add in the Chinese sell-off, and it looks bad for the near term at least.

[jjsheridan5]

Greece isn't the problem. The collapse of the Chinese bubble is the problem. Unwinding trades as far as the eye can see.

[jospehm20]

It is looking that way.

[catnipman]

This from the business insiders:

“In a series of tweets sent following his TV address, Tsipras said that, “what’s needed is patience and composure. The bank deposits of the Greek people are fully secure.”

Tsipras added, “The same applies to the payment of wage and pension — they are also guaranteed.”

So, your money is fully secure and guaranteed by a bankrupt and incompetent communist government that is unable to repay it’s own monumental debts and is on the verge of having to print New Drachmas as its national currency

Really folks, what could be more reassuring than that?

[jjsheridan5]

...at least is trying to induce a panic to sell things like physical gold or silver

Anyone not holding some gold or silver is an idiot. Anyone thinking that gold or silver is a hedge against what is coming is an even bigger idiot.