Submitted by Tyler Durden on 07/08/2015 - 11:43
This stinks like a False Flag Event...Look for some lie saying this is terrorism so they can take over the internet...
by Michael Snyder, The Economic Collapse Blog:
A global stock market crash has begun. European stocks are crashing, Chinese stocks are crashing, and commodities are crashing. And guess what? All of those things happened before
U.S. stocks crashed in the fall of 2008 too. In so many ways, it seems
like we are watching a replay of the financial crisis of 2008, but this
time around the world is in far worse shape financially. Global debt
levels are at an all-time high, the 75 trillion dollar global shadow banking system could implode at any time, and there are hundreds of trillions of dollars
in derivatives that threaten to wipe out major banks all over the
planet. The last major worldwide financial crash was almost seven years
ago, and very little has been done since that time to prepare for the
next one. If global markets do not calm down, we could see carnage in
the months ahead that is absolutely unprecedented.
Read More…
*UNITED AIRLINES U.S. FLIGHTS GROUNDED, FAA SAYS IN NOTICE, CITES 'AUTOMATION ISSUES' IN UNITED AIRLINES STOPPAGE
This is the 2nd such setback in six weeks!
from TheAlexJonesChannel:
/
Don't Worry About The NYSE: If The CBIP Fails, It's Time To Panic
Submitted by Tyler Durden on 07/08/2015 - 12:18 ... if and when the central banks can no longer trade E-Minis with each other, we suggest you panic.This stinks like a False Flag Event...Look for some lie saying this is terrorism so they can take over the internet...
And Now The Wall Street Journal Is Down
Submitted by Tyler Durden on 07/08/2015 - 11:50While We Were Offline - The Market Broke, Was Fixed (Stocks Slumped), & Broke Again
Submitted by Tyler Durden on 07/08/2015 - 11:02 This morning we experienced an unprecedented surge in traffic which brought our servers to a grinding halt. We are happy to announce that we are now back up. In the meantime... a pre-emptive attempt at plunge protection (by breaking NYSE just like on Monday) failed as NYSE re-opens and stocks slumped. Seeing this, the NYSE decided to break again and stocks ripped...Microsoft Fires 7,800: Second Biggest Mass Layoff In Its History
Submitted by Tyler Durden on 07/08/2015 - 11:03 It has been almost exactly one year since Micorsoft announced it would fire a record 18,000 people (surpassing the previous all time high layoff round of 5,800 in 2009) form a company that one upon a time seen as infallible as AAPL. So perhaps in order to release more funds with which to buy back its struggling stock, moments ago Microsoft did what it had to do to make corporate executives richer, and reported it would lay off another 7,700 workers.Greece Caves, Formally Requests ESM Bailout: Full Headline And Next Steps Summary
Submitted by Tyler Durden on 07/08/2015 - 07:35 Greece formally requested a three-year bailout from the eurozone’s rescue fund Wednesday and pledged to start implementing some of the overhauls demanded by creditors by early next week. Crucially for Greece’s creditors, the letter says the government would start implementing some measures, including on taxation and pensions, by the beginning of next week, though it doesn’t go into details. The letter is a first step toward fulfilling a demand by international creditors, who have given Athens until Sunday to come up with tougher measures they would impose in return for desperately needed financing that could keep the country from bankruptcy and even worse economic turmoil. A global stock market crash has begun. European stocks are crashing, Chinese stocks are crashing, and commodities are crashing. And guess what? All of those things happened before
U.S. stocks crashed in the fall of 2008 too. In so many ways, it seems
like we are watching a replay of the financial crisis of 2008, but this
time around the world is in far worse shape financially. Global debt
levels are at an all-time high, the 75 trillion dollar global shadow banking system could implode at any time, and there are hundreds of trillions of dollars
in derivatives that threaten to wipe out major banks all over the
planet. The last major worldwide financial crash was almost seven years
ago, and very little has been done since that time to prepare for the
next one. If global markets do not calm down, we could see carnage in
the months ahead that is absolutely unprecedented.Read More…
from Wolf Street:
The Shanghai Stock Exchange closed down 1.3% on Tuesday, which seemed
benign after its three-week, near-30% crash that saw $3.2 trillion go up
in smoke. It calmed the nerves in the West; a further collapse has been
averted by astute government and central bank action.
But the index was down only 1.3% because government entities, government controlled institutions, mutual funds, 21 of the largest brokerages, pension funds, the largest companies themselves, and whoever else has to follow government wishes had been buying shares of the largest companies, such as state-controlled oil companies and banks. Buying kicked in seriously toward the end of the trading day after the index had been down 4.3% earlier. With their large weight in the index, these gainers propped up the overall index. But beneath the surface, it was brutal.
Read More @ Wolfstreet.com
image: cpcache.com
The Shanghai Stock Exchange closed down 1.3% on Tuesday, which seemed
benign after its three-week, near-30% crash that saw $3.2 trillion go up
in smoke. It calmed the nerves in the West; a further collapse has been
averted by astute government and central bank action.But the index was down only 1.3% because government entities, government controlled institutions, mutual funds, 21 of the largest brokerages, pension funds, the largest companies themselves, and whoever else has to follow government wishes had been buying shares of the largest companies, such as state-controlled oil companies and banks. Buying kicked in seriously toward the end of the trading day after the index had been down 4.3% earlier. With their large weight in the index, these gainers propped up the overall index. But beneath the surface, it was brutal.
Read More @ Wolfstreet.com
image: cpcache.com
Germany Crushes All Hope Of Greece Getting Debt Relief
Submitted by Tyler Durden on 07/08/2015 - 08:42 "At the moment and in principle we see, as the chancellor said expressly in her press conference in Brussels, no occasion at all to discuss this issue - there is no leverage or basis for that," Martin Jaeger said at a news conference. "That refers to a haircut in the classic sense but I explicitly add we also take that to mean measures that aim to bring about a reduction in the cash value of debt - those are things that you hear in discussions under profiling, restructuring and similar things.""Prove You're Not A False Prophet!"; Tsipras Lambasted At Fire And Brimstone European Parliament Session
Submitted by Tyler Durden on 07/08/2015 - 08:11 Facing a new “deadline” to submit a viable proposal to EU creditors and keep Greece in the eurozone, Greek PM Alexis Tsipras faced friends and enemies at the European Parliament in Strasbourg on Wednesday, where there was no shortage of fireworks from both sides of the Grexit debate.China Makes Selling For Big Investors Illegal
Submitted by Tyler Durden on 07/08/2015 - 09:05 Having corralled selling by the National Social Security fund earlier this week and after discouraging local reporters from mentioning selling in the press, China has now made it illegal for major shareholders to dump stock over the next six months.Nationwide Computer "Glitch" Grounds All United Airlines Flights
Submitted by Tyler Durden on 07/08/2015 - 08:55 Seems like 'glitches' are becoming a little too common...*UNITED AIRLINES U.S. FLIGHTS GROUNDED, FAA SAYS IN NOTICE, CITES 'AUTOMATION ISSUES' IN UNITED AIRLINES STOPPAGE
This is the 2nd such setback in six weeks!
European Stocks, Bonds Surge On Blatant SNB Intervention
Submitted by Tyler Durden on 07/08/2015 - 08:26 At around 645ET, EURCHF suddenly took off out of nowhere. This instantly lifted European stocks off new post-Greferendum lows, slammeds EU credit risk lower, lifted US equity markets, and drove Treasury yields higher. The SNB has declined to comment on whether it intervenened but we ask in all frankness, have we become so divorced from 'free markets' that China can blatantly enter markets to save them (and fail) and European markets can mysteriously go bid and no one bats an eyelid that this is all rigged.Will Greek "Hope" Offset "Limit Down" Contagion From The "Frozen" China Crash
Submitted by Tyler Durden on 07/08/2015 - 06:58 Today's market battle will be between those (central banks) "hoping" that a Greek deal over the weekend is finally imminent (which on one hand looks possible after a major backpeddling by Tsipras - who may never have wanted to win the Greferendum in the first place - yesterday in Brussels and today during his speech in the Euro Parliament, but on the other will be a nearly impossible sell to Greece as any deal terms will be far harsher than the deal offered by the Troika 2 weeks ago and will have no debt reduction), and those who finally noticed that the Chinese central planners have effectively lost control.Barclays Fires CEO In Latest Rate-Rigging Euro Bank Shakeup
Submitted by Tyler Durden on 07/08/2015 - 06:37 It's shaping up to be a rough year for CEOs at Europe's most notorious rate rigging, scandal laden investment banks. Just three months after Brady Dougan left Credit Suisse and barely 30 days since Anshu Jain and Jürgen Fitschen tendered their resignations at Deutsche Bank, Barclays has shown CEO Antony Jenkins the door.
by Bill Holter, SGT Report:
The Greeks voted “no” and should be applauded for their valor!
Knowingly or not, their no vote has added extra cards to their hand.
They now have more options than they would have had with a yes vote. In
fact, Greece still has the only option they would have had with a yes
vote (cut a deal for “more aid” and austerity), plus many other which
pressure the lenders. I must say, a “vote” coming from the cradle of
democracy CONTRARY to what the banksters wanted is a breath of fresh
air!
Now what? Greece basically can go down three very different roads. They can use their “new freedom” to either negotiate new aid and restructuring, they can stay in the Eurozone while not paying on their debt and using a new drachma or, …they can go full Iceland! Please understand this, no matter what they choose, their banking system is inedible toast and they cannot pay their debt service let alone the principal. The bottom line is “someone” will have to eat the losses. Whether it be the ECB itself, European banks or whomever, the debt will not be paid and someone, somewhere will have to “lose”. Keep in mind this is happening while liquidity is already quite tight.
Read More…
The Greeks voted “no” and should be applauded for their valor!
Knowingly or not, their no vote has added extra cards to their hand.
They now have more options than they would have had with a yes vote. In
fact, Greece still has the only option they would have had with a yes
vote (cut a deal for “more aid” and austerity), plus many other which
pressure the lenders. I must say, a “vote” coming from the cradle of
democracy CONTRARY to what the banksters wanted is a breath of fresh
air!Now what? Greece basically can go down three very different roads. They can use their “new freedom” to either negotiate new aid and restructuring, they can stay in the Eurozone while not paying on their debt and using a new drachma or, …they can go full Iceland! Please understand this, no matter what they choose, their banking system is inedible toast and they cannot pay their debt service let alone the principal. The bottom line is “someone” will have to eat the losses. Whether it be the ECB itself, European banks or whomever, the debt will not be paid and someone, somewhere will have to “lose”. Keep in mind this is happening while liquidity is already quite tight.
Read More…
from BPearthwatch:
Government Emails Discovered Showing Cover Up/UC BERKELEY in the Middle of the Deception.
http://www.enenews.com
Government Emails Discovered Showing Cover Up/UC BERKELEY in the Middle of the Deception.
http://www.enenews.com
from TheAlexJonesChannel:
Crude Carnage Continues After Another Inventory Build & Production Rise
Submitted by Tyler Durden on 07/08/2015 - 11:16 For the 2nd week in a row, crude oil inventories saw a build (after 8 weeks of draws) albeit a modest 384k barrels. Cushing also saw an inventory build. At the same time, production rose very modestly back to near cycle record highs (thouygh we note an extremely small drop in Lower 48 production). Crude prices have tumbled on the news as apparently yesterday's exuberance over better demand data from EIA has been long forgotten.../
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