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." 

Gun Salesman-In-Chief: 52,600 Weapons Sold Daily Under Obama Admin

"This is likely the beginning of a long rise in gun sales leading up to the election. Should Hillary Clinton take a significant lead, it will only boost these sales..."

The Brexit Reaction Is The Reason Brexit Happened

It doesn't mean much to be against torture until the moment when you're most tempted to resort to it, or to have faith in voting until the result of a particular vote really bothers you. If you think there's ever such a thing as "too much democracy," you probably never believed in it in the first place. And even low-Information voters can sense it.

Another Red Flag: Growth In Fast Food Visits Has Hit A Wall

Visits to fast food restaurants had been growing at a quarterly rate of 2% since September 2015, but haven't grown at all in March, April or May.

Something Just Snapped In VIX

With ETF shares outstanding spiking and near-record short futures exposure in the VIX complex, something is breaking as after-hours trading is showing some significant moves higher in VIX futures and ETFs. Whether this is a short Vol margin call or, as some havs suggested, delayed dark pool prints showing up, it is sending algos scrambling...

"Death To All Zombies!"

When things fall apart in stressed complex systems, they tend to fall apart fast. It’s called phase change. Too many things in 21st century life have depended on sheer trust that the people-in-charge know what they are doing. That trust has subsisted on the doling out of money-from-nothing: debt, reckless bond issuance. TARP, QEs, bailouts, bail-ins, Operation Twists, Ponzi schemes… the whole sad-ass armamentarium of banking necromancy. The politicians let it get out of hand. Things that can’t go on don’t, and now they won’t.

Bonds & Bullion Bid But Brexit Blowback Batters Banks

The Last Time Bonds Were Here, The Recession Started

The US Treasury yield curve has collapsed to its flattest since Nov 2007... just before the US economy officially slumped into recession...

Chicago Is Pushing For A Massive Bailout Of Its Public School System

Perhaps riding high on the small victory of a slight reprieve in the amount of money the city would have to contribute to fund the liabilities over the next few years, Rahm Emanuel is now quietly asking the city to change investment rules that would allow Chicago to purchase debt from sister agencies such as the Chicago Public School system - said differently, Rahm Emanuel wants to bail out the Chicago Public School system.

Behold Corporate Incest

President Of The European Parliament: "It Is Not The EU Philosophy That The Crowd Can Decide Its Fate"

"The British have violated the rules. It is not the EU philosophy that the crowd can decide its fate".

Earthquakes Cause Giant Natural Gas Field To Cut Production By 44%

Europe just lost a big chunk of production from one of its most critical natural gas fields, and not for any of the usual reasons - technical problems, pipeline constraints, or terrorist disruptions. These cuts are due to earthquakes.

Monday Humor: WTI WTF NYMEX Ramp Edition

Presented with little comment aside to ask, where is the SEC, CFTC?

Just 3 Charts

What happens next?

10 Ways The UK Could Leave The EU

Stalemate between Britain and the European Union over what happens next following Britons' referendum vote to leave has opened up a host of possible scenarios. Here are some that are (in some cases, barely) conceivable...

These "Brexit" Market Moves Were Bigger Than Anything Seen In 2008... And What Comes Next

Message To The Elite ‘Start Packing, Your Days Are Numbered’ Counters The NWO Attempt To Hi-jack ‘Anonymous’ Hactivists ‘One World Government’ Message

by Susan Duclos, All News Pipeline:
A New World Order political party is trying to take the stage. They call themselves THumP, aka “The Humanty Party,” and they are attempting to hi-jack the hactivists group called Anonymous, using the Guy Fawkes mask, claiming to now be the “voice” of Anonymous in order confuse and capitalize on the name recognition of the group.
Their claim via 24-7 Press Release is: “In March of 2015, various Anons discreetly met to vote on a Board of Directors to lead the movement. The Board appointed one of its Anons as its Voice of Anonymous.”
The first of the “key concepts” tells us that the NWO is behind this new “political party,” as it states the following:
Establish and promote the possibility of a ONE World Government and a new Constitution that guarantees and provides worldwide basic human rights to ALL people of Earth. These inalienable human rights include the Five Basic Necessities of Life (“FBNL”): free healthy food and water, secure and safe housing, basic clothing, health and mental care, and education.
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What the Leave Vote Means for Gold Going Forward

by Stefan Wieler, GoldMoney:
Against the latest polls before the referendum, and seemingly against the expectations of the City and financial markets in general, nearly 52% of the UK voters voted to leave the European Union. This has come as a massive shock to the markets, with the GBP down 8.4% at the time of writing (over 10% at some point overnight), and equity and commodity markets crashing. Gold began to rally immediately after the first results revealed that the share of leave voters have been hugely underestimated and has rallied to USD1324/ozt, a 13.6% % gain against the GBP.
While only time will tell what the eventual economic implications will be, one thing is already for sure: The reality of BREXIT is shaking financial markets at the core. Asian and European equity markets closed with huge losses, commodity prices tumbled and currency markets are in disarray. We haven’t seen market moves like this since the credit crisis.
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EUROPE WILL COLLAPSE FIRST, “EVERYTHING ELSE” WILL FOLLOW

by Andy Hoffman, Miles Franklin:
The 150 or so people attending Miles Franklin’s “Q&A Rap Session” in Chicago Friday night saw me, working on 2½ hours of sleep, get choked up when describing the importance of BrExit; which last month, I deemed “the most important – and Precious Metals bullish – election in history.”  And not just because in my view, it was history’s most globally relevant act of political defiance – in that 7.3 billion people will all be affected by the votes of a mere 30 million; but that it was done despite a manically intense “anti-leave” propaganda and market manipulation campaign.  And equally importantly, my fervent belief that it marked the beginning of the end of the gold Cartel.  I’ll get to the former topic momentarily; but first, given that my principal focus, as Marketing Director of one of the nation’s largest bullion dealers, is Precious Metals, I’ll discuss the latter.
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Brexit Victory: Here’s why the Battle for Britain is Just Beginning

from The Wealth Watchman:

The Brexit vote was an inspiring, historic victory of nationalism over globalism!  The EU’s days are numbered, as the peoples of Europe are rising up to reclaim their freedom and birthright.

Here’s What the Brexit Did to the World’s 400 Richest People

from The Anti Media:
For all the scaremongering and threats of an imminent financial apocalypse should Brexit win, including dire forecasts from the likes of George Soros, the Bank of England, David Cameron (who even invoked war), and even Jacob Rothschild, something “unexpected” happened yesterday: the UK was the best performing European market following the Brexit outcome.
This outcome was just as we expected three days ago for reasons that we penned in “Is Soros Wrong“, where we said “in a world in which central banks rush to devalue their currency at any means necessary just to gain a modest competitive advantage in global trade wars, a GBP collapse is precisely what the BOE should want, if it means kickstarting the UK economy.”
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ECB Blows €400bn on “Brexit Black Friday” Bank Bailouts

by Wolf Richter, Wolf Street:
Dealing with a Financial Crisis under cover of Brexit Chaos
Remember TARP, the Troubled Asset Relief Program that the US Congress approved to bail out banks and other companies during the Financial Crisis? $700 billion were authorized, later reduced to $475 billion. The Treasury eventually dispersed $432 billion. I bring this up because the ECB bailed out the European banks with more than TARP, in just one day: on Brexit Black Friday.
The ECB saw what was happening to the shares of the largest banks on that propitious day. It saw a blooming financial crisis:
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