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Risk Off: FX Carry Trades Tumble, Euro Opens Under 1.10; USDJPY Under 121
With nearly 60% of the Greek refrendum vote counted, and the No's leading by a landslide 61%, it is clear that the Troika's gambit failed, unless as Goldman wrote and we first noted, it was the ECB's intention to force a Grexit all along, thus permitting the ECB to engage in more QE: QE which would in Goldman's estimation, push the EURUSD down 7 big figures and further toward parity, sending global stocks soaring in one last central bank-inspired hurrah.
For now, however, while the carry trades are in risk off mode, the drop is not nearly as dramatic, and the EURUSD is trading under 1.10...
... while the USDJPY opened under 122.
Should there be no official statement by the Eurozone fin mins or any support from the ECB, we anticipate the risk off mode will only accelerate overnight, especially if the PBOC fails to support Chinese markets tonight, which - with all due respect to Greece - is the far bigger catalyst to what happens in global stock markets tomorrow, because if the Chinese central banks has lost the market's confidence all bets are off.
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And gold and silver sits. Buy the shit out of the real stuff.
I wont be selling for paper.
RIPS
So someone riddle me this. Japan has the worst balance sheet of any nation, they make Greece look good. Yet its cuurency strenghtens. The only thing that makes sense to me is a total Market collapse. It is the only thing that can make sense of these markets.
I knew the markets will show very little reation to Greece. The market is soooo rigged. Tomorrow will be business as usual here in the States. The market will reach all time highs tomorrow. One cannot win either way.
I can imagine a global emergency alert on all televisions and computers.
"Mortals for your safety you must give everything to us....Behold the Velvet glove comes off!, This is not a Silver fist"
Dying beasts are dangerous.
RIPS
ready for that $5 gold up day ?? Ready ?
You meant to put a zero behind that five.
Paging Dr. SNB.
Paging Dr. SNB.
You're wanted in the Plunge Protection Room STAT
"Debt contagion slams into the USA."
Absolutely a possibility.
Didn't take long for Puerto Rico to default on a "mere" 70 BILLION!!!
If gold doesn't ramp up over night - its beyond rigged...
With PBOC and UR totally distracted, it should blow through $1200.
Considering the mountainous volume of structured confetti that has been printed lately, the real price should have blown through US$1200 a long time ago. In this bizarre environment, there's no direct way of knowing what the real price should be: we have only anecdotes about Failures-To-Deliver, strange trading patterns, apparent disinterest on the part of regulators regarding extraordinary concentrations of paper contracts within individual institutions, extremely high premiums behind closed doors, Tungsten revelations, tunnels underneath roads, seizure of national treasure from "Rogue States," bullion stolen under cover of 911, and so on. It's like an ongoing sequel to Raiders of the Lost Ark...
Euro gaps down, big time ! Sweet...
http://www.investing.com/charts/currency-charts
There is no market, so how can it collapse?
Maybe take a look at the Yen since 2012. It's down 40%
Japan still produces things and people still work. Greece produces nothing except olive oil. They should have never been in the euro.
... Japan still produces things and people still work
Not as much as 15 years ago, though... Do you have any idea how much outsourcing did the Japanese companies over the last decade and a half ?
Citi and JPM with huge naked short positions about to get fucked.
C and JPM are also the major shareholders of the paper gold GLD and paper silver SLV ETFs. This is like owning the bonds and CDS. Why would they do it?
To cause a financial meltdown so the NWO can be implemented.
The way we can skirt this offensive is to own physical bullion. That way we won't be at the dictate of the technocratic bankers.
100% guaranteed the elites will use the next crash to bring in a global currency. Unfortunately for them the decentralised currency rabbit is out of the hat.
The trend for the past 45 years is clear and simple: centralization and consolidation. Bigger, fewer, more connected businesses connected to an increasingly powerful central government, in Europe and in the US.
This is the goal line for them. If they can get over to the global system, they score.
Are enough human beings still awake enough to provide defense against this leviathan? The No vote in Greece is a hopeful sign. Individual dignity is not entirely dead.
But this crucible is far from done. The fighting has just begun, and the forces of mindless bureaucracy and the enslavement of human creativity still have tons and tons of power provided to them from the corporate model.
Who will humans choose to be?
Where is Blythe working these days?
Bitcoin
against it
If we listen to the guy who is the foremost Bilderberg researcher then your gold and silver are set to sky rocket in price.
Gold Is A Financial Thermonuclear Weapon -https://www.youtube.com/watch?v=Hd6gQQmpv3A
Time to fire up the National Liberation Front (Greek Resistance in WW2) and place some assets in Brussels and Frankfurt.
Should we trust either of these zios on this podcast?
Trust yourself. Is it better to hold paper assets or real assets
No skyrocketing metals because of the paper bullshit is unlimited and thry have well figured out how to keep our physical cheap untill thry cant so dont part gold be under 1,000 and silver at 10 shortly but ill buy at 40,30,20 and 10 its not for sale I hope
Dontchall forget that this is merely a single (massive in and of itself, a thrust into the very heart of the EU and NWO) step in the total game.
There's still Greek bank liquidity to consider, loan repayment terms or walks away, China the AIIB and Russia, gas pipelines and port berthing arrangements amongst a few items to consider.
On the other side, sure the EU will want to punish Greece, but a what cost with defaults, breaking banks and collateral calls on derivatives, etc., let alone bank capital and failures.
Hello ECBQE4evah
In short:
Well payed, Gentlemen.
Don't take your eyes off the ball of independence from the EU, access to the EU markets and alternative income and political levers such as NATO basing, etc.
This is a BIG DAY.
Makes my heat all warm a cuddly, July 5, on the irony of it all, the history!
See, some of the folks isn't so dumb after all, no?
And yes, there is a God striking at the very heart of evil, at the NWO and evil men's desires to defeat Natural Law.
Almost wants me to vote for Liz Warren .... er .....
It's all about timing, as in, time is money. Nothing is cast in stone.
I see more SNB intervention tonight...gotta keep that Euro strong!
Mind the gaps...
Im expecting another rip-your-face-off rally in EurJpy
Can't have the "markets" feel any pain can they, only the poor and the sick and pensioners.....
Smells like a GS bait and switch.
"All bets are off " that's for sure....
If all bets are off then there can't be any money can it?
https://youtu.be/N9_tl_b-bFs
Gold sits there saying who me?
So they know what they're doing.
That's rich, that's really rich.
They are so far up shit's creek...
it is clear that the Troika's gambit failed,
Actually, it was Mutti kicking Greece, out. Hell of a PR victory for Tsipras, but Greece is still raggedy assed broke, and the euphoria will fade fast.
German banks are open for business as usual.
I expect the markets to demonstrate all the symptoms of classic schizophrenia for awhile and who knows what the algo's will do. I'm extremely thankful that I got completely out, otherwise I'd have to dig out my nailgun.....
Life's more important than Carry Trades.
Count Faster and gimme the FINAL FINAL BALLOT RESULT.
Some old Greek professor in the USSofA is more than perturbed about Golden Dawn supporters voting with the government, calling them Nazi Party.
Me thinks the Troika doth protest tooooooooooooooooooooooo much!
Think UKRAINE.
Don't you think it will be EURO DOWN tomorrow, U.S. DOLLAR UP thus PM's down tomorrow?
Doesn't this mean BTFD tomorrow?
SEC is watching gay midget porn while DHS, and NSA forecast weather reporting July 4th terrorist attacks. DOJ is jerking off on movie theater and OIP
http://www.justice.gov/justice-blogs
By market open tomorrow morning this will be painted as positive for stocks. Meanwhile, the ny fed and the primary stealers have a lot of index futures to buy.
You could get a "Greek Contagion" because of this.
The dollar might be down against the Yen because when you factor in State and Local Governments the USA "has a multitude of Greece's."
So "buy yen/sell dollar" on fear of more "Detroiting" henceforth.
Hard not to see European Equities opening limit down however. "Somebody has to pay for the default" and obviously the IMF was sticking it to the ECB and Draghi when it said "Greece has no ability to repay."
Those writedowns will have to be done in EURO'S now.
This looks like a disaster to me.
Bets are the euro will be over 1.12 by tommorrows close!
Forein investors are 70% hedged, supposedly.
They will be getting out and covering their hedges.
Will be a tough trade though!
Best bet as usual is do the complete opposite of anything that remotely makes sense.
if i owe the eu one million euros, its my problem. however, if the eu lent me one billion euros, it's now their problem
now, just imagine that greece once owed the troika 250 billion euros and how it feels to have them [eu]cannibalized by their own 'pound-of-rotten-flesh'!
Greenspan telegraphed the outcome of Grexit back in February and everyone knew Greece was being forced to exit by the status quo gangsterbanksters when they all started to fall in line with talking points. Greenspan would not have stated an exit was the foregone ultimate conclusion if he thought there was any possibility of his being wrong on that account. Don't forget that Greenspan is a failed Economist and cannot afford to be wrong on anything since 2008. Moreover, industry would not have allowed him to open his pie hole and speak up on the Grexit possibility in February if he was incorrect in that assumption.
Logically, the entire Western World banking sector is now completely defunct, and will topple like dominos within days due to the fact that Ponzi schemes cannot be re-inflated. If one could re-inflate Ponzi schemes we all know Bernie Maddoff would have found a way rather than going to jail.
NOTE: It's time to knock on all the front doors of all the Investment Bankers in the entire World and ask for a sandwich, and a cup of coffee, Z/Hers. Don't forget to smile, and be polite. Remember your upbringing, and manners, eh, we are not animals, contrary to popular belief.
;|
the only way that makes sense is if china/russia come to greece's rescue providing an opportunity for a eurasian connection, merkel's dildo.
I hear Uncle Sam has a thing for Greece...
Federal Reserve Dealers will use stockholders money without consent. That's how despotism they hide. Watch them get assininated in broad daylight.
It's going to be a whatever moment when they expire. George Soros will loose some foot soldiers.
However things shake out going forward, you can bet that some prominent bankster maggots will say this is exactly what they expected (and wanted) to happen to appear that they actually know what the fvck is going on and are on top of matters.
FUBAR.
the biggest danger in all this are banksters thinking their chosen status is in danger and taking it out on the goy. a false flag is almost certain to deflect blame for the collapse.
The blame is already known. It's the US media job to redirect. Then the information bomb will be dropped.
Sit back and enjoy.
They are an an easy target...
But a stronger USD is clearly bullish for US companies with 50% of their profits overseas. /s
How did the market (coughcasinocough) break?
First slowly....then all at once.
What about the crooks that still want to hand over tens of billions to kick the can down the road?Surely the Germans & the IMF and the rest of the corporate gangsters deserve the endless right of deny and delay forever and ever,Amen.
It's important to remember that this referendum is not a vote on whether or not to exit the EU but simply accept or reject to latest "bailout" proposal. I'm sure the misanthropes, who hold high positions in the EU, have more tricks up their sleeves.
Globalisation has hit a brick road.
Just a few more hours and Athena's spear will strike.
YeeeeeeHaaaaaa Bitcoin Last Price $271.56
Tsipras and Varoufakis should go the the next meeting with the Troika with a full compliment of Greek olives (branches would be a nice touch), so souvlaki, gyros, ouzo and for dessert, a Greek tradition, aks all the EU finance ministers to bend over and take one for the team.
EU wanted some socialism and they got it. Haircut for everybody holding EUROs and shifts the cost of the PIIGS back to core EU.
God help the Chinese...you know why there is so much smog in China? Because the government blows so much smoke up their holes.
We predicted parity long before Goldman
eurusd will probably close green tomorrow ... the fucking cunts will be out in full force tomorrow.
A well diversified portfolio will take the hit.
100..99...98...97...96
whats that.. thats is the deflation of your €€ guys
and that ticker just hit a higher gear..
www.teamramgold.com
Take your bitcoin profits and convert them to gold tomorrow.
Au up a paltry $4 now. This smells of another CB drubbing in the morning. Dow futures down a paltry 1% - sure to be up 300 points tomorrw at 4pm edt.
aaaaand we're down to + $1.00
Fuck off.
Simple. Japan does not owe foreigh creditors one cent. Almost all Japan bond issued are bought by domestic Japanese/institutions. In fact, Japan is still a creditor ( heck, have more than 1 trillion us treasury)
Since all Japanese bond are issued in yen, the government, as the last resort, can print to pay up. No real default risk.
Greek is an exact opposite, and that's why, greek wants to default...to defraud foreign creditors ( too bad, IMF and other Euro governments have means to retaliate) .....By doing so, greek government will collapse in no time ( simple: no fund to pay salaries, pensions, whatever....it could only pay what it collects domestically from greek via tax/fee, which....good luck)
i wonder if russia will help them
oxi or not they need money
if it would be for me, the greed debt is illegal
all loans are illegal and therefore greece dont have to pay them back anyway
i know greece can create its own economy