"Bank Runs" Expected in Europe on Monday

[Book]

http://www.reuters.com/article/2012/06/15/eurozone-idUSL5E8HE4H320120615

"Bank Runs" Expected in Europe on Monday

http://www.smallbusinessbrief.com/forum/images/smilies/yippee.gif

[Sparky]

Wouldn't they be tomorrow? Doesn't anybody plan ahead?

[Book]

Just in case the worst comes to pass, analysts at Barclay's have attempted to estimate the fallout. They compare it to the days after the investment bank Lehman Brothers collapsed in September 2008. This time, they project that oil prices would fall to $50, stock markets outside of Europe would plunge 30 percent, and the dollar would soar to trade nearly even with the euro.

http://www.boston.com/news/nation/articles/2012/06/15/following_fallout_from_a_greek_euro_exit_to_the_us/

http://www.smallbusinessbrief.com/forum/images/smilies/yippee.gif Mainstream doomer porn in the Boston Globe this morning. Go fondle your Preps

[mamboni]

In the past, a bank run meant something. The currency was a paper receipt for the ultimate bank reserve, gold! A bank run was customers withdrawing bank notes and redeeming them for.....gold! These fools in Europe are merely withdrawing soon-to-be-devalued paper EUROs. Greek EUROs could even be declared non-exchangeable. If the people of Europe are using these paper notes to buy gold, then that is a bank run.

[Canadian-guerilla]

FX Markets Bracing For Major Event

Last night we noted that OandA will shut-down trading on Sunday ahead of the market-moving events surrounding the Greek election

more . . .

http://www.zerohedge.com/news/fx-markets-bracing-major-event

[mamboni]

Mama Mia!!!!!

Banca Network vicina al fallimento blocca i conti di trentamila clienti. Un risparmiatore: «Non sono più padrone dei miei soldi» - Video

http://www.ilsole24ore.com/art/notizie/2012-06-14/banca-network-134118.shtml?uuid=AbHKxBsF

[madfranks]

Just in case the worst comes to pass, analysts at Barclay's have attempted to estimate the fallout. They compare it to the days after the investment bank Lehman Brothers collapsed in September 2008. This time, they project that oil prices would fall to $50, stock markets outside of Europe would plunge 30 percent, and the dollar would soar to trade nearly even with the euro.

So... come Monday morning does AU/AG fall like oil (commodity), or rise up like the dollar (money)?

[woodman]

So... come Monday morning does AU/AG fall like oil (commodity), or rise up like the dollar (money)?


That is the question of questions.

[Sparky]

So... come Monday morning does AU/AG fall like oil (commodity), or rise up like the dollar (money)?
If the worst comes to pass (and by this, they mean the leftist party takes control and rejects the bailout, and social disorder reigns), AU/AG would likely fall. Anti-bailout means no injection of liquidity, and increase of risk. Increase in risk means a flight to the USD, which is still perceived as safety. This is very much the scenario that played out with Lehman, and I would expect a repeat.

This will continue to be the case until the U.S. reaches the point in the timeline where Europe is now. Gold will continue to persistently rise until then, but experience sharp retreats during these high volatility events. We've seen this pattern for 10 years now. The long ascent of gold's price from $250 to $1925 has been a response to long term structural financial and economic problems, yet interrupted by technical corrections and event volatility.

[Horn]

So... come Monday morning does AU/AG fall like oil (commodity), or rise up like the dollar (money)?

Silver would have trouble making it past 20, Gold past 300.