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What does smartest guy in Bitcoin, Tony Gallippi think? The #bitcoin market just needs a little GREASE to get unstuck. #Grexit price targets $610 and $1250

If Greece Blows Up And Financial Armageddon Hits, Gold Will Go “Bid Without”

The only way to prevent financial Armageddon is to declare all markets on holiday. However, the most interesting market to watch will be the re-pricing of the market for physical precious metals.  Even if they suspend the trading of fraudulent paper futures trading, an over-the-counter – or even “black” market – for physical bullion will develop. This is because, unlike futures contracts, buyers and sellers can effectuate an exchange of physical for fiat paper.
Of course, I believe that this market would open up “bid without,”  meaning buyers will stick bids out looking for offers.

There’s nothing more terrifying in the markets than trading a market that goes “bid without” when you are short.
The short position will cause heart attacks and Bill Murphy’s prediction that they will carry gold shorts out of the Comex on stretchers will come to fruition.

Click here for more from Fund Manager Dave Kranzler on Why Gold & Silver May Go Bid Without on a Greek Default:

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Showdown in London Town @georgegalloway & @maxkeiser to outline plans for the City

@StartCOIN explodes in value as new video released throwing down gauntlet to banksters.

Bank Holidays, Bail-ins, & Full Capital Controls: Greece on the Precipice

I am of the opinion that some of the Greek banks will not open Monday and those that remain open will shut down with a day of opening or at least by June 30.  The ECB and IMF are looking at June 30 as the absolutely deadline for full on default, no concealing it any more.
The ELA must protect its position and will likely order a bank holiday and full on capital controls because the bank deposits are now less than what is owned. Collateral is going to be worth ZERO in short order as a Greek default shoots rates to 50-90% on 2 year bonds, just like the last time Greece took the haircut that avoided a full default 2 years ago.
This will precipitate a bail-in as the ELA, along with the troika, will demand full deposit theft to protect this 100 billion euro assets still within reach.  Bank holiday will give the troika and ELA provisions time to extract everything they can reach in these accounts.  If the Greek central bank does not nationalize the banks sometime between Sunday and Wednesday, the banks will fail and crash, throwing the entire system into chaos.

Click here for more on the BIG GREEK WEEKEND from AGXIIK:

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EURO CON-FEDERATION

EURO CONFEDERATION

[KR776] Keiser Report: IMF failed Greece long before bailout

We discuss forecasts that go wrong and whether or not Christine Lagarde could forecast her way out of a Dominique Strauss Kahn orgy. In the second half, Max interviews Mark O’Byrne of Goldcore.com about the gold and silver markets, cryptobullion, the confetti masters on Wall Street and the Federal Reserve which is not federal and has no reserves.

Collapse, Part 5: Things Fall Apart

As noted earlier in this series, collapse is not an event, it’s a process, a process we experience as things fall apart. The phrase famously appears in William Butler Yeats’ 1919 poem, The Second Coming:

Turning and turning in the widening gyre
The falcon cannot hear the falconer;
Things fall apart; the centre cannot hold;
Mere anarchy is loosed upon the world,
The blood-dimmed tide is loosed, and everywhere
The ceremony of innocence is drowned;
The best lack all conviction, while the worst
Are full of passionate intensity.

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It’s @YanisVaroufakis vs #Eurogroup

Irish Prime Minister Bravely Says Exactly What He’s Been Told To Say On Greece

Irish Prime minister, Enda Kenny, made a lot of claims in Brussels this week that are simply lies. Claims that there were no tax hikes flies in the face of income tax changes, social insurance hikes and a whopping 2% increase on VAT promptly after they were elected. Irish people are just amazed at this man’s hyper stupidity/arrogance. Probably the most accurate reporting comes from the Waterford Whispers Satirical News site. 

IRELAND’s Taoiseach Enda Kenny has had praise heaped on him by the EU, the ECB and the IMF following his latest comments on Greece’s debt crisis.
“It takes real bravery to stick exactly to the script,” Mario Draghi, head of the ECB told WWN earlier today, “the ear piece we gave him, feeding him dialogue obviously helps, but he has shown a real Meryl Streep-like flair for this”. (more…)

Collapse, Part 4: Loss of Faith in Public Institutions

Though we may think of collapse in terms of ATMs not working and rampaging mobs, collapse actually starts with the intangible loss of faith in public institutions:elected officials, law enforcement, the justice system and the agencies of financial regulation (anti-trust, etc.).

Unsurprisingly to those who discern the structural rot of the status quo, Americans No Longer Believe In Their Institutions:

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Margaret Thatcher in 1951 by Sketchaganda

margaretclass

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