Dow Futures Down 900 Points From Pre-Brexit Highs, Plunge Below Friday's Crash Lows...

US equity futures are tumbling at the open following Cable and USDJPY's dive. Dow futures dropped 100 points (down 900 points from pre-Brexit highs) and broke below Friday's early crash lows...

Boris Johnson Emerges, Explains What "The Only Change" As A Result Of Brexit Will Be

" The only change – and it will not come in any great rush – is that the UK will extricate itself from the EU’s extraordinary and opaque system of legislation: the vast and growing corpus of law enacted by a European Court of Justice from which there can be no appeal. This will bring not threats, but golden opportunities for this country – to pass laws and set taxes according to the needs of the UK."

"Trying To Wash Away Her Bad Judgement?" - Clinton Attacks Trump Following Brexit Results

Aside from the millions of UK voters who chose to regain sovereignty last week, one of the biggest winners of the Brexit vote is potentially Donald Trump. Trump's rise in popularity is in no small part due to the fact that people in the US are tired of the status quo, politics as usual nonsense, and Trump allows for an outlet to that sentiment. Well aware of this fact, and presumably concerned that Trump would be able to capitalize on the Brexit vote, the Clinton campaign is trying desperately to get past the fact that Hillary was on the wrong side of the vote as quickly as possible.

A Tale Of Two Asset Classes: Gold Miners Soar, Banks Crash

"...that’s credit bubble thinking. Banks are dominant forces in an economy only when that economy is creating an unhealthy amount of credit. When the process exhausts itself the banks tank, and terrified capital flows back into “primitive” safe havens. Like Friday..."

Will The Market Break? Keep An Eye On This For the Answer

"This is just the sort of toxic cocktail of bad economics and extreme politics which the 1930s were made of. It is hard to square it with such elevated valuations in risky assets."

 

UBS CIO Warns "The Status Quo Is Over... Get Used To It"

"The status quo in Europe is over. We will have to get used to this. Political risk has risen, and we will be dependent on central bank interventions, the calmness of markets, and measured political decision-making to keep the world's economic growth momentum and thus support risk assets."

Brexit Panic-Monger Osborne To Make Statement "To Calm Markets"

Oh the irony!!! Just days after spreading fear and panic over the outcome of a Brexit vote, propangandizing that The Uk will sufffer "years of recession," UK Chancellor George Osborne will issue a statement early on Monday morning in a bid to calm markets after the surprise Brexit vote triggered turmoil on Friday.

Why The Brits Really Voted "Leave" (In 3 Simple Cartoons)

"Brexit is not the disaster. The disaster is what they’re rowing from..."

 

Brits Lead Revolt Against Age Of Inequality, BofAML Favors "Gold, Vol, & Cash Positions"

Brexit is the biggest electorate riposte yet to The Age Of Inequality created by policymakers to save (some) of the world, and as BofAML's Michael Hartnett warns, investors must anticipate a shift to an increasingly populist policy response. The backdrop of Quantitative Failure nonetheless means a renewed bull market in risk assets is impossible unless fiscal policy can quickly arrest the downside in GDP & EPS forecasts.

Current Economic Collapse News Brief – Episode 1007

from X22Report:

In this news brief we will discuss the latest news on the economic collapse. We look to see if things are really that different. The central bank will not stop at just confiscating your wealth they will want your life. They want to enslave the people.

Nassim Taleb Slams The World's "Intellectual-Yet-Idiot" Class

"When people vote the way of the I-Y-I elite, it is "democracy". Otherwise it is misguided, irrational, swayed by populism & lack of education."

 

UK Labour Party Revolt Continues: 12th Cabinet Member Resigns As Corbyn Refuses To Step Down

Update: Labour leader Jeremy Corbyn has said he will not step down, adding he will not "betray the trust" of those who elected him, according to Sky News.
"If a general election is called later this year, which is a very real prospect, we believe that under Jeremy's leadership we could be looking at political oblivion,"

 

Multiple People Stabbed At Neo-Nazi Rally In Sacramento

Multiple people were stabbed Sunday outside the Capitol in Sacramento after clashes between neo-Nazis and counter-demonstrators took place

Civil Uprising Escalates As 8th EU Nation Threatens Referendum

Brussels simply went too far... They crossed the line moving from an economic union to a political subordination of Europe, and now eight more countries are threatening referenda.

 

Currency Carnage Continues: Cable, USDJPY Tumble As FX Markets Open

The calm is over. FX markets are open and Cable is currently down another 170 pips, testing 1.3500 once again. USDJPY is also sliding back below 102.00 as the world awaits China's reaction with its official peg as offshore Yuan plunged on Friday...

Bulgaria’s PM Rejects Bulgarians Joining Any Permanent NATO ‘Black Sea Fleet’ Against Russia

from Rogue Money:

Last week we wrote that the highly publicized dissent of German Foreign Minister Frank Walter Steinmeier against the overall NATO build-up near Russia’s borders would open the door to other weaker members of the Atlantic Alliance speaking up against the U.S. dictated surge of forces in Eastern Europe. As it turned out, we did not have to wait long to see confirmation of this proposition, in the form of Bulgaria’s Prime Minister Boyko Borissov remarks made within days of Steinmeier’s criticism of NATO ‘warmongering’ and ‘sabre-rattling’. In Borissov’s case, he rejected any combined NATO Black Sea squadron (naturally led by the Bulgarians’ former Turkish occupiers) against the Russians, bluntly stating, “I do not need a war in the Black Sea“.
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As US Home Prices Hit Peak Bubble, “Smart Money” is Selling

by Harry Dent, Wolf Street:
What do they know that we don’t?
Two weeks ago, I wrote about an upcoming New York City condominium listing for $250 million. I mention this because, as I’ve explained before, it’s always the tallest buildings and priciest condos to get hit during major downturns.
Just look at the early 1930s and mid-1970s marking peak bubbles if you don’t believe me!
You’ll understand, then, why I smiled when I saw a Forbes slideshow called “The Little Black Book of Billionaire Secrets,” featuring the most expensive homes in each of the 51 states, including Washington D.C.
North Dakota held the honor of the least expensive home, at just under three million dollars, now that the fracking boom has burst. The most expensive home was not in Manhattan, but in Florida – Palm Beach – at $159 million.
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Black Friday: Shocking Brexit Vote Result Causes The 9th Largest Stock Market Crash In U.S. History

by Michael Snyder, The Economic Collapse Blog:
Has the next Lehman Brothers moment arrived? Late Thursday night we learned that the British people had voted to leave the European Union, and this could be the “trigger event” that unleashes great financial panic all over the planet. Of course stocks have already been crashing all over the globe over the past year, but up until now we had not seen the kind of stark fear that the crash of 2008 created following the collapse of Lehman Brothers. The British people are certainly to be congratulated for choosing to leave the tyrannical EU, and if I could have voted I would have voted to “leave” as well. But just as I warned 10 days ago, choosing to leave will “throw the entire continent into a state of economic and financial chaos”. And “Black Friday” was just the beginning – the pain from this event is going to continue to be felt for months to come.
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