Jim Rogers: Brexit Blowback "Worse Than Any Bear Market You've Ever Seen"

"The EU as we know it now will not exist, the Euro as we know it will not exist... This is going to be worse than any bear market that you've seen in your lifetime. 2008 was pretty bad because of debt, well the debt all over the world is much, much higher now..."

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." 

EU Officials To Unveil 'Ultimatum' Blueprint As Final Solution For European Super-State

It appears The Brits may have dodged more than a bullet in their decision to leave The EU. The foreign ministers of France and Germany are reportedly due to reveal a blueprint to effectively do away with individual member states in what is being described as an "ultimatum," with a shockingly predictable final solution to Europe's Brexit-driven existential crisis to morph the continent’s countries into one giant superstate.

"Back Into The Hurricane" - Doug Casey Warns "Gold Will Go Higher Than Most People Can Imagine"

"While we’ve spent the last several years in relative peace and calm inside the eye of the storm, we’ll be entering the other side of the hurricane wall later this year... It’s going to take gold a lot higher than most people can imagine at this point... I think $5,000 gold will happen at some point because we’re looking at a worldwide monetary crisis of historic proportions."

"Brexit" - What Goldman Thinks Will Happen Next, And Who Will Hold The Next Referendum

Considering Goldman's abysmal forecasting track record continues to plumb new lows (just today it predicted a Spain victory of Italy, and an England victory over Iceland, both tragically wrong), the following should perhaps be best used as an indicator of what will not happen. Still, since there are a lot of remaining Brexit question, we hope that the following at least provides a useful framework for how to approach the :"known unknowns", if not so much the unknown unknown ones.

The End Game Of Bubble Finance - Political Revolt

During Friday’s bloodbath we heard a CNBC anchor lady assuring her (scant) remaining audience that Brexit wasn’t a big sweat. That’s because it is purportedly a political crisis, not a financial one. Here’s a news flash. That’s all about to change. The era of Bubble Finance was enabled by a political abdication nearly 50 years ago. But as Donald Trump rightly observed in the wake of Brexit, the voters are about to take back their governments, meaning that the financial elites of the world are in for a rude awakening.

Some Bad And Some Worse News For Stock Buybacks

For those 17-year-old hedge fund managers used to BTFD on hopes corporate buybacks will "have their back" and provide the bid on which momentum-chasing HFT algos will piggyback, we have some bad news and some worse news.

After Brexit, Ron Paul Asks "Can We Exit A Few Things Too?"

The act of exit is liberating. We should make a longer list of those things we would like to get out of. I am only getting started...

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.

South China Sea: Storm In A "Far Larger" Indian Ocean Teacup

With global attention focused on BREXIT calamity, potentially more important questions are being overlooked, and especially in the South China Sea where storms are currently brewing between China and a range of littoral states for strategic control of territorial waters.

Jordanian Intelligence Has Been Stealing US Arms Intended For Syrian Rebels

It's no secret that the US has a long and storied past when it comes to running guns illegally, and subsequently completely losing control of them. In its most recent debacle, a joint investigation by the New York Times and Al Jazeera has revealed that millions of dollars worth of weapons sent by the CIA and Saudi Arabia to Jordan intended for Syrian rebels was stolen by Jordanian intelligence officials and sold on the black market.

US Navy To Begin Testing Powerful 150-Kilowatt Laser Weapon System

"Laser weapons are powerful, affordable and will play a vital role in the future of naval combat operations. We ran this particular weapon, a prototype, through some extremely tough paces, and it locked on and destroyed the targets we designated with near-instantaneous lethality."

Why Did The UK Enter The EU In The First Place?

Looking back, one really has to wonder why the UK subjected itself to all the inane EU nannycrat rules and regulations in the first place. We can explain..

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

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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BREXIT: An Expression of Political Freedom

from Shadow of Truth:

The Market Just Held a Stress Test: Morgan Stanley, Met Life and Citigroup Flunk

by Pam Martens and Russ Martens, Wall St On Parade:
Wall Street On Parade has reported on multiple occasions that the Federal Reserve has no idea what it’s doing with its stress testing of the largest banks on Wall Street. Last Friday’s market action, following the Brexit vote in the U.K. to leave the European Union, proved just how feeble the Fed is when it comes to assessing systemic risk and capital vaporization at the deeply interconnected Wall Street mega banks.
While the Dow Jones Industrial Average dropped 3.39 percent at the close on Friday, Morgan Stanley lost a stunning 10.15 percent of its market capital in a 6-1/2 hour trading session. At that speed, Morgan Stanley’s equity market capital could be wiped out in 10 trading sessions were this Brexit panic to continue.
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EU Bankster Contagion

by Michael Hudson, Michael Hudson:
Summary: Great Britain’s decision to leave the EU presages a global financial meltdown that could resemble the 1930s. Banks will demand massive bailouts. We will be forced, if the banks are bailed out again, to endure harsher austerity and a prolonged depression.
Great Britain’s decision to leave the European Union has wiped out many bankers and global speculators. They will turn, as they did in 2008, to governments to rescue them from default. Most governments, including ours, will probably comply.
Will the American public passively permit another massive bailout of the banks? Will it accept more punishing programs of austerity to pay for this bailout? Will a viable socialism rise out of the economic chaos to halt further looting of the U.S. Treasury and the continued reconfiguration of the economy into neo-feudalism? Or will a right-wing populism, with heavy undertones of fascism, ascend to power because a failure on the part of the left to defend a population once again betrayed?
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Brexit Triggers Existential Eruption of EU: “Disintegration of the EU practically irreversible.”

by David Haggith, The Great Recession Blog:
At long last the tyranny of the global financial elite has been slammed good and hard…. The British people have rejected the arrogant rule of the EU superstate and the tyranny of its unelected courts, commissions and bureaucratic overlords…. Smaller government—–at least in geography—–is being given another chance. And that’s a very good thing because more localized democracy everywhere and always is inimical to the rule of centralized financial elites. (David Stockman — Contra Corner)
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GOLD AS INSURANCE – THE LESSON OF BREXIT

by Louis Cammarosano, Smaulgld:
Gold Acts as Portfolio Insurance and Protection Again Human Error.
Last week’s Brexit vote was a known risk. The date for the voting to take Britain out of the European Union was set in late February 2016. Politicians, central bank officials and commentators warned repeatedly that a vote by the British to leave the EU would result in economic uncertainty and disaster. Yet, many investors who listen to and believe in the wisdom of central planners and their acolytes went unprotected into the vote.
On June 23, 2016, a majority of British voters chose to leave the EU. The equity markets crashed globally as soon as it became clear Brexit was a reality. Could anyone honestly claim that the Brexit vote was “unexpected”? Perhaps at best it was improbable, but there was always a substantial probability that Britons might vote to leave the EU.
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Neocons Endorse Hillary as the US Party of Empire Is Finally Revealed

from The Daily Bell:
Exclusive: Prominent GOP Neoconservative to Fundraise for Hillary Clinton A prominent neoconservative intellectual and early promoter of the Iraq War is headlining an official campaign fundraiser for Hillary Clinton next month, Foreign Policy has learned. -FP
The husband of State Dept. political agitator Victoria Nuland is raising money for Hillary.
According to Foreign Policy, Robert Kagan, co-founder of the Project for the New American Century, is going to speak at Hillary’s fundraiser in DC’s Logan Circle neighborhood, July 21.
Foreign Policy states that this marks a shift in the Clinton campaign because it seems she is now willing to associate with high level Republicans who are determined to ruin Trump’s chances of becoming president.
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