Greek banks prepare plan to raid deposits to avert collapse – JBG (requires login) o o o Items from Mr. Econocobas: Greek Bank Closures May Deplete Supermarket Shelves Greece Maybe Out of Cash by Weekend Greek Banks Considering 30% Haircut On Deposits Over €8,000: FT The Complete Greek Referendum Walk-Thru: When, How, What To Expect; And What Comes Next
HJL, As I write this, Greece and its financial woes are in the news again. There is nothing especially surprising about that, as Greece has been there before. Greece has been in a state of “soft default” since at least 2009. For the last five years Greece and the EU have engaged in on again – off again negotiations trying to tap dance around what has become known as “The Greek Debt Crisis”. The can, as they say, has been kicked down the road several times. At the end of this month (June 2015), Greece is due to cough up …
“It Could Never Happen Here” | The 10th Man Investment Newsletter – D.S. o o o US Dollar Death Guarantee o o o Items from Mr. Econocobas: Americans Not In The Labor Force Soar By 640,000 To Record 93.6 Million; Participation Rate Drops To 1977 Levels Since 2007 The US Has Lost 1.4 Million Manufacturers, Gained 1.4 Million Waiters And Bartenders Part-Time Jobs Surge By 161,000; Full-Time Jobs Tumble By 349,000
THE SILVER CHART REPORT: The Coming Explosive Silver Price & Market o o o The 75 Trillion Dollar Shadow Banking System Is In Danger Of Collapsing o o o Items from Mr. Econocobas: Puerto Rico Bonds Are Collapsing “Heartbreaking” Scene Unfolds At Greek Banks As Pensioners Clamor For Cash Swindle Alert: How To Spot The Fed’s Impending Bailout Of Europe
U.S. debt headed toward Greek levels. – G.P. o o o Greece Collapse: The real situation in the streets of Athens – Note the comment about vendors not taking credit cards or debit cards, just cash. If you haven’t already done so, ensure you have some cash in case of an earthquake or other. – P.S. o o o Items from Mr. Econocobas: David Stockman- Good On You, Alexis Tsipras (Part 1) Greek Crisis: ‘We Rely on Imports. Soon Even the Most Basic Goods Won’t Be Available’– Don’t imagine Amid Puerto Rico Debt Woes, Reality Hits San Juan Streets Greece …
Puerto Rico’s Governor Says Island’s Debts Are ‘Not Payable’ – JBG o o o When you have to trot out analysts to characterize something as a “calculated retreat” and “not a panic”, it’s a pretty good guess that the panic is on… Greek Debt Crisis – J.H. o o o Items from Mr. Econocobas: Greece Will Default To IMF Tomorrow, Government Official Says – There is still decisions to be played out here but if there is a “default” (extremely likely) and a no vote on Sunday, how this plays out could very well be very ugly… Greece Closing Banks …
Nature Provides Novel Solution To Energy Storage Problem o o o A Wary Athens Awaits the Referendum on Austerity. – JBG o o o Puerto Rico Debt Crisis Mounts With Key Deadline Just Week Away. – G.G. o o o Greece Update: Run On Banks Risks Leaving Them Cashless – JBG o o o The world is defenseless against the next financial crisis, warns BIS. – G.G. o o o Items from Mr. Econocobas: Greek Capital Controls Begin: Greek Banks, Stock Market Will Not Open On Monday
Video: Queues form outside Greek banks after referendum announcement – JBG o o o Greeks Line Up – Drain ATMs of Cash – T.P. o o o Lines form at Greek banks as PM Tsipras calls historic bailout vote o o o Items from Mr. Econocobas: What Electricity Consumption Tells Us About The State Of The US Economy – An Update: This is an interesting concept. This is a little geeky and probably hard to really gauge, but interesting. 18 Years Ago This Country Collapsed Overnight——Could It Happen Again?
The Economic Collapse Blog Has Issued A RED ALERT For The Last Six Months Of 2015. – B.B. o o o TOP 5 GOLD PRODUCERS: Stunning Decline In Gold Productivity o o o Items from Mr. Econocobas: Tsipras Meets With Merkel, Hollande Before Saturday Aid Decision Greece Rejects Bailout Extension: Tsipras “Won’t Be Blackmailed”, Threatens Snap Elections IMF Says It Still Expects Greece to Pay $1.7 Billion Due Tuesday
The Mystery Of The “Missing” Inflation Solved: Record Number Of US Renters Can’t Afford Housing. – H.L. o o o When Will US Debt Hit the Wall? o o o Items from Mr. Econocobas: Forget Grexit, “Madame Frexit” Says France Is Next: French Presidential Frontrunner Wants Out Of “Failed” Euro The Economy’s All Fixed—–Only 70 Million Adults Teetering On The Edge Of Ruin Chart Of The Day: Greece’s Money Goes Under The Mattress Credit Market Warning- Chris Martenson
Forget Greece, Portugal is the eurozone’s next crisis . – H.L. o o o Gold & Silver Eagle Sales Spike In June As The Market Senses Financial Turmoil o o o Investing In Nuclear Power Just Got More Interesting o o o Billionaire Warns of Looming Disaster: “Derivatives Are Still Weapons Of Mass Destruction”. – E.B.
First Strike Capability: Gold or War o o o Economically Key Industrial Metals Complex Is Breaking Down. – H.L. o o o Infographic: The Looming Copper Supply Crunch. – D.S. o o o The 10 most tax-friendly states for retirees. – H.L. o o o 70 million Americans teetering on edge of financial ruin. – G.G.
Seneca’s Cliff: Greece, Debt and Paper Silver o o o These 15 states still haven’t recovered jobs lost in recession . – H.L. o o o Items from Mr. Econocobas: Existing Home Sales Spike To Highest Since Nov 2009 As Prices Soar For Expensive Homes Greek Banks “Unofficially” Limit Walk-In Withdrawals To €3,000, FT Reports ECB’s Nowotny – Greek banks have funding extension for today (Monday) “It’s Time To Hold Physical Cash”, Fidelity Manager Warns Ahead Of “Systemic Event”
Jim Rogers: Turmoil Is Coming. – G.G. o o o The Next Great European Financial Crisis Has Begun. – B.B. o o o Tens of thousands march against austerity in London. What will happen in our inner cities when America is similarly really BROKE????? Those in better neighborhoods will be struggling, BUT will be in more danger from those feeling “deprived”! – H.L. o o o Why A U.S Shale Slowdown Will Hardly Effect Oil Prices
‘It’s time to hold physical cash,’ says one of Britain’s most senior fund managers. – G.P. o o o Citi forecasts Greek devastation, unstoppable debt spirals in Italy and Portugal. – JBG o o o ‘Last Days of Pompeii’ in Greece as crunch time approaches. – JBG o o o “Bank Holiday” Preparations Begin In Greece, Lines Form At Athens ATMs