Bonds Ain't Buying It...

Don't hold your breath on today's face-ripping rally...

Brexit Is What Happens When The Pie Is Shrinking

A great many narratives are drifting around the Brexit pool: a return to sovereignty, class war, "controlled demolition," nothing-but-another-political-Kabuki- spectacle, end of the European Union, etc. We think it boils down to something much simpler: the pie is shrinking, and the illusion that it's about to start growing has been shattered.

Obamacare Accounted For 58% Of US "Growth" In The First Quarter

It should come as no surprise that in Q1, when real GDP grew by $44 billion in real terms, or 1.1% annualized, from $16.471 trillion to $16.515 trillion, Healthcare was reponsible for $26 billion, or a whopping 58.4% of the total.

Case-Shiller Home Prices Rise At Slowest Pace In 8 Months As San Francisco Sales Slump

April was not a good month for home prices - despite hopeful signs from seasonally adjusted sales data. S&P Case-Shiller 20-City index rose just 0.45% MoM (well below expectations and March's 0.85% gain) - the weakest rise since Aug 2015. The broader Home Price Index hovered near unchanged for the 2nd month - the weakest since January 2012. Most worrisome, perhaps, is the 18.16% YoY plunge in San Francisco home sales... as perhaps the bubble is finally bursting.

About That Historic Collapse In Sterling: It Was "Only" The 9th Biggest Drop Going Back To 1862

Over the past several days, the financial media has been preoccupied with the fascinating - and historic - drop in sterling which as this site also noted, was the biggest in history. As it turns out, that is not the case, as the data was limited by the available records on file with major service providers such as Bloomberg and Reuters. However, if one goes back in time, as DB's Jim Reid has done, it appears that Friday's sterling move was rather puny by true historical comparisons.

Final Q1 GDP Rises 1.1% Despite Worst Personal Consumption In Two Years

And so the final, and largely irrelevant, estimate of Q1 GDP is in the history books. Moments ago the BEA reported that in the first quarter GDP rose a tepid 1.1%, higher than the first and second estimates of 0.5% and 0.8%, respecitvely, and also higher than consensus estimates of 1.0%. The bad news: the all important personal consumption expenditures component of GDP rose a modest 2.0% annualized and contributing just 1.02% to the bottom line GDP. This was the worst showing by the US consumer since Q1 of 2014.

How They Hedged Brexit: Soros Was Short Deutsche Bank, Druckenmiller Was Long Gold

Soros Fund Management took a short position in Deutsche Bank AG of about 7 million shares, or a total notional of about $100 million, as turmoil from the U.K.’s decision to leave the European Union sent bank stocks lower. The position taken on Friday was equivalent to 0.51 percent of Deutsche Bank’s share capital, according to a German filing published on Monday. The document doesn’t show at which price the fund took the position.

Previewing Today's Main Event: David Cameron Arrives In Brussels

For the first time since triggering a political earthquake that’s shaken Europe's foundations with his now massively backfired decision to hold a EU membership referendum in 2015, a decision which won him the parliamentary election battle but lost him, and Europe, the war, UK Prime Minister David Cameron is set to face his fellow - and very angry - European Union leaders at what may be Cameron's last summit in Brussels, even as back in London, the race to succeed him is heating up.

This Is What Draghi Said To Spark Speculation Of Another Global Central Bank Bailout

The head of the ECB avoided mentioning the U.K.’s vote to leave the European Union but instead called for greater alignment of policies globally to mitigate the spillover risks from ultra-loose monetary measures.  “We can benefit from alignment of policies,” Draghi said at the ECB Forum in Sintra, Portugal. “What I mean by alignment is a shared diagnosis of the root causes of the challenges that affect us all; and a shared commitment to found our domestic policies on that diagnosis."

The "Synergies" Arrive: Dow Fires 2,500

Today, less than a month after Dow completed its transaction with Corning, the "synergies" which we previewed last December have begun. Moments ago Dow announced that cost-synergies would be achieved through a global RIF, or reduction in force (another of Wall Street's favorite acronyms) of approximately 2,500 jobs, or 4% of the workforce.

Global Stocks Rebound, US Futures Jump On Expectation Of "Coordinated Intervention By Central Banks"

After a historic two-day selloff, which as shown yesterday slammed European banks by the most on record the wildly oversold conditions, coupled with hopes for yet another global, coordinated central bank intervention, coupled with modest hope that David Cameron's trip to Brussels today may resolve some of the Article 50 gridlock, have been sufficient to prompt a modest buying scramble among European stocks in early trading, with the pound and commodities all gaining for the first time since the shock Brexit vote.

The First Casualty Of Brexit: Italy Prepares €40 Billion Bank Bailout

Barely has the market had time to digest last week's Brexit vote by the UK, a vote which may never actually be implemented if the "sturm und drang" campaign unleashed by the EU and the ECB on UK capital markets succeeds in changing the mind of enough "Leavers" to the point that the entire referendum is called off and Boris Johnson never triggers the Article 50 clause, and already Europe's most financially troubled nation, Italy, is using Brexit as a pretext to unleash a €40 billion ($44 billion) bailout of its insolvent banks.

Brexit "Do Over" Petition Exposed As A Scam...

"Signatories" ca

Greenspan Warns A Crisis Is Imminent, Urges A Return To The Gold Standard

"We're dealing now in very early days a crisis which has got a way to go.  If we went back on the gold standard and we adhered to the actual structure of the gold standard as it exited prior to 1913, we'd be fine.  Remember that the period 1870 to 1913 was one of the most aggressive periods economically that we've had in the United States, and that was a golden period of the gold standard."

Germany And France Hatch A Plan To Create An EU Superstate

by Michael Snyder, End of the American Dream.com:

If you believe that the Brexit vote is going to kill the idea of a “United States of Europe”, you might want to think again.  In fact, it appears that the decision by the British people to leave the European Union is only going to accelerate the process of creating an EU superstate.  As you will see below, one of the largest newspapers in the UK is reporting that the foreign ministers of France and Germany have drafted “a blueprint to effectively do away with individual member states”.  So even though men like George Soros are warning that the eventual dissolution of the European Union is “practically irreversible” after the Brexit vote, the truth is that the globalists are not about to give up so easily.
Read More

‘Wonks for Hillary’ – New Program Just Disguises her Lust for Power

from The Daily Bell:
What Is Wonks For Hillary? … If you happen to be receiving emails from Hillary Clinton’s campaign, then you undoubtedly received an email last night with the subject line “We need wonks, [Your Name].” After some mild confusion, you might be wondering: What is Wonks for Hillary? -Bustle
Like her husband, Hillary is fond of being portrayed as a policy “wonk.”
It’s hard work of course as “wonks” tend to the engine of legislation. They are not interested in the glamour of government but in using the bureaucracy in creative ways to “make a difference.”
Read More

Brexit: The Stalling-and-Maneuvering Begins

by Jeff Nielson, Bullion Bulls:
Many people have likely thought (hoped?) that the Brexit vote would be the end of a chapter. The UK people vote to secede from the EU, and then the UK gets on with its future, as a sovereign nation. Sadly, it is now clear that such sentiments are nothing more than wishful thinking. The Brexit vote was not the “end” of anything. Rather, it was the beginning of some twisted, new melodrama – orchestrated, as usual, by the puppet masters of the One Bank.
First we have the stalling. It began with the oligarchs’ loyal servant, David Cameron. Cameron fell on his sword, immediately after the Brexit vote. The reason for doing this was not political accountability. Amongst our puppet politicians, that is a concept almost as archaic as political ethics. Cameron resigned for one, and only one reason.
Read More

Dutch Party Chief Geert Wilders Urges ‘Nexit’ Referendum for Netherlands

from Freedom Outpost:
Can Frexit be far behind? The EU thought it would control Europe (Eurabia) by importing a Muslim army of millions. Not so fast, fascists.
When I first starting hearing the news of the Brexit vote succeeding, I tweeted this at 11 pm that evening:
Dutch anti-immigrant party chief urges ‘Nexit’ referendum for Netherlands,” Daily Mail, June 24, 2016
BUDAPEST, June 24 (Reuters) – The Netherlands should hold its own referendum on whether to leave the European Union following Britain’s vote in favour of exiting the bloc, the leader of the Dutch anti-immigrant PVV party, Geert Wilders, said on Friday.
Read More

Brexit Victory over the EU Globalists

from BATR:
The globalist establishment has been at war against the people for decades. Centuries of scheming produced the EU centralization monster. The overwhelming deceit and destruction caused by the ruling class has finally received a setback in a plebiscite on the European Union. The New World Order of collectivists born in satanic ideologies, implemented by international finance, imposed through the carnage of continuous wars and administered under an abusive bureaucracy system of non elected technocratic elites has suffered the repudiation of British men and women, who want to restore England to a sovereign nation under the principles of Magna Carta.
With the immediate jubilation from the counted paper ballots, the long demoralized public of English heritage found optimism for the first time in recent memory. Such enthusiastic satisfaction is entirely understandable with the historic results that clearly rejected the pagan system of foreign domination.
Read More

FEMA ‘Social Unrest’ Prep, Unprecedented Food Crisis…

from Patriot Rising:
The US national security industry is planning for the impact of an unprecedented global food crisis lasting as long as a decade, according to reports by a government contractor.
The studies published by CNA Corporation in December 2015, unreported until now, describe a detailed simulation of a protracted global food crisis from 2020 to 2030.
The simulation, titled ‘Food Chain Reaction’, was a desktop gaming exercise involving the participation of 65 officials from the US, Europe, Africa, India, Brazil, and key multilateral and intergovernmental institutions.
Read More

COMEX GOLD OPEN INTEREST RISES BY A HUGE 10% UP TO 619,597 CONTRACTS

from Harvey Organ:
GOLD OI FOR JUNE RISES BY ANOTHER 129 CONTRACTS/ A HUGE 5384 CONTRACTS STILL STANDING FOR JULY OR 16.5 TONNES OF GOLD/HUGE DEVALUATION IN THE YUAN ADDS TO THE TURMOIL IN GLOBAL MARKETS/EUROPEAN STOCKS PLUMMET AS WELL AS EUROPEAN BANK SHARES/CONTAGION TRAVELS TO NY WHERE USA BANKS WHACKED/GOLD SHINES!./NO GOLD LEAVES THE FRBNY FOR GERMANY
The June gold contract is an active contract. Last night we had a fair sized 41 notices filed last night, for 4100 oz to be served upon Monday. The total number of notices filed in the first 17 days is enormous at 15,481 for 1,548,100 oz. (48.15 tonnes)
ii) in silver we had 31 notices filed for 155,000 oz.. Total number of notices served in the 17 days: 615 for 3,075,000 oz
Let us have a look at the data for June 27.
Read More @ Harveyorganblog.com

UNITED NATIONS PIT-BULL VX SWAT MILITARY COMBAT VEHICLES SPOTTED ON VIRGINIA INTERSTATE

MILITARY UNITED NATIONS VEHICLES HAVE BEEN SPOTTED IN VIRGINIA, SHOCKING MOTORISTS AND SPARKING CONSPIRACY THEORIES.
by Geoffrey Grider, Now The End Begins:
The white trucks, equipped with large off-road tires, were seen being transported on Interstate 81 on Friday. They appear to be Alpine Armoring’s Pit-Bull VX SWAT Truck models. Jeff Stern posted photos of the vehicles on Facebook, writing: ‘Can’t begin to tell you how many of these I passed today on 81 near Lexington VA. Interesting times ahead!’
Another online commenter said: ‘We have U.N. vehicles being shipped on U.S. highways. One has to wonder why?’
Bobby Wayne Guinn posted on Facebook that he had witnessed similar scenes in Texas. He wrote: ‘Wondering why 30 United Nations vehicles, fully loaded with combat-prepared troops, were driving down our highway in Dallas, Texas.’
Read More @ Nowtheendbegins.com

WHAT MARKET MANIPULATORS HAVE IN STORE FOR THE UK AND THE WORLD

by Avery B. Goodman, Averybgoodman.com:
Some advocates of the “One-World-State” ended up deeply shocked in the late night hours of June 24th, as the British people decided to free themselves from the undemocratic rule of the elitists in Brussels. I have no doubt that the market manipulators, who work closely with the elitists, and are often one and the same people, will be doing everything they can to prevent that “Mini-Me” of the One-World-State, more popularly known as the European Union, from collapsing entirely. The actions they will take are almost certainly going to include an attempt to punish the British, economically, for having voted to leave.
In the last few days before the Brexit voting, especially on the day of the vote itself, there was a lot of market manipulation activity. Mainstream media outlets may have refused to publish exit polls, making the outcome a mystery for average voters. However, the big trading banks and their associated hedge funds knew exactly what was going to happen. The banks paid millions of dollars to fund their own private exit polls. They knew the results long ago, and everything that happened over the days prior to the voting, and especially the day of the voting, itself, was based upon that.
Read More

/