Posted on 07/06/2015 10:50:57 AM PDT by SkyPilot
In 2011 the biggest fear from the Greek financial crisis was that it would cause a ripple effect throughout the global economy. But despite years given to de-leverage themselves, banks worldwide are still exposed to Greece, carrying more derivatives than ever tied to the tiny European state. Now that the Greek citizens have rejected the austerity measures proposed by the EU, we are facing a real potential of a Greek default, which could trigger a cascade collapse of credit default swaps and cause the implosion of the German central bank.
Then, a continent away, we are facing trouble of a different sort. To shore up its own financial status, the Chinese central bank has begun to pump billions into their markets to stabilize them. And market reports have begun censoring themselves to prevent market jitters. To add to this, we have China’s attempt at private banking just getting off the ground. And then there is the generalized self-deception that firmly believes that the rules don’t apply to China and it will grow forever without any restraint.
While the usual con men will use the Greek vote to hawk gold, the rest of the world is facing a collapsing marketplace this morning worldwide. That the Chinese index has lost over a third of its value in under three weeks should have been a large warning. Now in just a few hours of trading, a single market index has lost $30 billion in value, and the trend is accelerating. This adds to the issues, as it appears that many market analysts had counted on China bailing out Greece. But with China’s own financial situation in jeopardy, the white knight from Beijing is not going to be riding over the hill to save the creditors of Greece.
(Excerpt) Read more at addictinginfo.org ...
Markets are meant to be cornered and defeated!
I was trained to be a Financial Planner in a former life; what a crock that was. I’m so glad I didn’t waste 20+ years of my life lying to people.
I sleep the sleep of Angels. Keep your powder dry! :)
Frozen OJ Futures. The other OJ has no, ‘future.’ ;)
;)
Best line in the movie?
“I’ve got my money in laddered CDs. I figure five more years on my back and I’m out of here!”
Sisters are doin’ it for themselves! ;)
uhhhhhh...The markets didn’t crumble.
Abolishing the fed would be a fine blow to the plutocracy that has overwhelmed our Republic, don’t you think?
I just told you. I know you’re a smart guy. I didn’t know you were a plutocrat. :-)
News to me as well.
But for how long? Roosevelt raised taxes to 90%+ when he took office and
crumbled us for 11-years. And people still would've voted again for the bastard.
Lots to talk about when taking down the Fed reserve. Very complicated.
Why? What does the Fed's elimination accomplish?
Right now printing 80-billion a month.
We're talking trillions unaccounted for, and not one audit in my lifetime.
It's all of our debt, and our country at stake.
How?
Deniability because the Fed Reserve are private bankers.
But they aren't private.
Right now printing 80-billion a month.
QE ended last October.
We're talking trillions unaccounted for
How do you figure?
and not one audit in my lifetime.
They're audited every year. Audits are available online.
It's all of our debt, and our country at stake.
What does "our debt" have to do with the Fed?
Go find out what the Fed Reserve is, start there and GL.
This will be blamed on climate change. Not kidding.
Your cynicism sucks......because it is probably right.
The Fed is privately owned. Its shareholders are private banks
Next time look it up before you hit that post button! Took me all of
two seconds to find that on the net.
I knew you were a damn troll. F-off.
The economic risks themselves can be kicked down the road a long long time. The geopolitical risks will be more severe and quicker than most believe IMO. The citizens of Spain are watching this situation very closely. A comparable “no” vote coupled with potential default in Spain will absolutely destroy the EU. At that point the Chinese get involved with our debt to aid the EU...............oh boy that will be a problem.
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