Serpo
23rd April 2016, 09:00 PM
opps ...sorry this is old news......
heres a better story By Greg Hunter’s USAWatchdog.com (http://beforeitsnews.com/r2/?url=http://usawatchdog.com/)(Special Release)
http://usawatchdog.com/wp-content/uploads/2016/04/22.jpg
According to financial writer Bill Holter, we are getting to the end of the gold and silver price suppression game. Holter contends, “Because the inventories are so small, silver and gold registered categories (at COMEX) total about $1.2 billion. That’s nothing in today’s world. That’s less than one day’s interest the U.S. pays on its debt. I don’t see this going for a long time because inventories are so small. . . . This whole suppression game on gold and silver was brought about to protect the reserve currency, the dollar, because gold is a direct competitor with the dollar. If the silver market blows up, and I shouldn’t say if, it’s when the silver market blows up, that’s going to blow the gold market up, and that is basically going to expose the fact the West is a fraud, that the gold and silver markets were a fractional reserve Ponzi scheme. That’s going to blow confidence, and you are going to see derivatives blow up all over the world, and markets will be closed in a couple of days.”
Holter, who is also an expert on gold, goes on to warn, “The world runs on credit, and you going to Walmart or a grocery store each week, the stuff doesn’t appear on shelves, it gets there by several layers of credit. . . . Silver is a teeny tiny domino compared to the whole system, but it will lead to all the dominos coming down. China and Russia know this. It could be two days, two weeks or two months. It could blow before the market opens on Monday morning. You tell me when someone steps up to buy twice as much silver than COMEX can deliver, and that’s it. It is done. This is a seminal moment for the entire Western financial system. . . . It could be any day. The default is coming.”
If criminal bankers would not have conspired to suppress gold for the last several years, what would the price be today? Holter says, “You couldn’t have $5,000 or $10,000 gold and 0% interest rates. I think there would have been a panic into metals (gold and silver) by now because the price suppression has been used to hit people’s emotions. It’s been used to hurt their psyche. I think if they had not dumped all this paper to suppress the price, the pot would have already boiled, and there would have been a run on the banks and a run into the metals.”
So, if the banks would not have criminally suppressed the price of gold, we would already have a gold price that would be thousands of dollars higher than today. Holter says, “Yes, absolutely. Gold is real money that cannot default. That is what this is all about. When the whole system defaults, what’s going to be left standing–gold and silver, real money. They are no one else’s liability.”
Join Greg Hunter as he goes One-on-One with Bill Holter of JSMineset.com. (http://beforeitsnews.com/r2/?url=http://www.jsmineset.com/)
A 918 Point Stock Market Crash In Japan And Deutsche Bank Denies That It Is About To Collapse
http://theeconomiccollapseblog.com/wp-content/themes/atahualpa/images/icons/user.gif By Michael Snyder, on February 9th, 2016
http://theeconomiccollapseblog.com/wp-content/uploads/2016/02/Financial-Crisis-2016-460x254.jpg (http://theeconomiccollapseblog.com/archives/a-918-point-stock-market-crash-in-japan-and-deutsche-bank-denies-that-it-is-about-to-collapse/financial-crisis-2016)On Tuesday junk bonds continued to crash (http://finance.yahoo.com/echarts?s=JNK+Interactive#%7B%22range%22:%22max%22 ,%22allowChartStacking%22:true%7D), the price of oil briefly dipped below 28 dollars a barrel, Deutsche Bank was forced to deny that it is on the verge of collapse, but the biggest news was what happened in Japan. The Nikkei was down a staggering 918 points, but that stock crash made very few headlines in the western world. If the Dow had crashed 918 points today, that would have been the largest single day point crash in all of U.S. history. So what just happened in Japan is a really big deal. The Nikkei is now down 23.1 percent from the peak of the market, and that places it solidly in bear market territory. Overall, a total of 16.5 trillion dollars (http://www.zerohedge.com/news/2016-02-09/world-equity-market-wealth-crashes-6-trillion-below-2007-highs) of global stock market wealth has been wiped out since the middle of 2015. As I stated yesterday (http://theeconomiccollapseblog.com/archives/day-of-reckoning-the-collapse-of-the-too-big-to-fail-banks-in-europe-is-here), this is what a global financial crisis looks like.
Just as we saw during the last financial crisis, the big banks are playing a starring role, and this is definitely true in Japan. Right now, Japanese banking stocks are absolutely imploding, and this is what drove much of the panic last night. The following numbers come from Wolf Richter (http://wolfstreet.com/2016/02/09/fear-hits-japanese-banks-nikkei-plunges-10-year-yield-negative-for-first-time-ever/)…
Mitsubishi UFJ Financial Group plunged 8.7%, down 47% from June 2015.
Mizuho Financial Group plunged 6.2%, down 38% since June 2015.
Sumitomo Mitsui plunged 6.2%, down 26% since May 2015
Nomura plunged a juicy 9.1%, down 42% since June 2015
A lot of analysts have been very focused on the downturn in China in recent months, but I think that it is much more important to watch Japan right now.
I have become fully convinced that the Japanese financial system is going to play a central role in the initial stages of this new global financial meltdown, and so I encourage everyone to keep a close eye on the Nikkei every single night.
Meanwhile, the stock price of German banking giant Deutsche Bank crashed to a record low (http://www.zerohedge.com/news/2016-02-09/deutsche-bank-stock-crashes-record-low) on Tuesday. If you will recall, Deutsche Bank reported a loss of 7.6 billion dollars (http://money.cnn.com/2016/02/09/news/companies/deutsche-bank-ceo-cryan-letter/index.html?iid=hp-stack-dom) in 2015, and I wrote quite a bit about their ongoing problems yesterday (http://theeconomiccollapseblog.com/archives/day-of-reckoning-the-collapse-of-the-too-big-to-fail-banks-in-europe-is-here).
Things have gotten so bad that now Deutsche Bank has been forced to come out and publicly deny that they are in trouble (http://www.usatoday.com/story/money/2016/02/09/deutsche-bank-ceo-says-bank-rock-solid/80049338/#)…
Deutsche Bank co-CEO John Cryan moved to quell fears about the bank’s stability Tuesday with a surprise memo saying its balance sheet “remains absolutely rock-solid.”
The comments come as investors grow increasingly nervous about the health of European banks, which have taken a hit on the fall in energy prices and which face rising concerns over their cash levels.
Of course Lehman Brothers issued the same kind of denials just before they collapsed in 2008. Cryan’s comments did little to calm the markets, and even Jim Cramer (http://www.cnbc.com/2016/02/09/cramer-european-banks-have-a-plan.html) saw right through them…
“You know, Deutsche Bank puts out a note saying, ‘listen, don’t worry, all good.’ Reminds me of JPMorgan saying if you have to say that you’re creditworthy then it’s already too late.”
Another thing that Lehman Brothers did just before they collapsed in 2008 was to lay off workers. We have seen a number of major banks do this lately, including Deutsche Bank (http://www.bloomberg.com/news/articles/2016-02-08/deutsche-bank-says-it-has-at1-payment-capacity-of-1-1-billion)…
Cryan, 55, has been seeking to boost capital buffers and profitability by cutting costs and eliminating thousands of jobs as volatile markets undermine revenue and outstanding regulatory probes raise the specter of fresh capital measures to help cover continued legal charges. The cost of protecting Deutsche Bank’s debt against default has more than doubled this year, while the shares have dropped about 42 percent.
The following chart comes from Zero Hedge (http://www.zerohedge.com/). Nobody on the Internet does a better job with charts than Zero Hedge does. I would recommend visiting them right after you visit The Economic Collapse Blog each day (wink wink). This chart shows that Deutsche Bank stock has already fallen lower than it was during any point during the last financial crisis…
http://theeconomiccollapseblog.com/wp-content/uploads/2016/02/Deutsche-Bank-Record-Low-460x238.jpg (http://theeconomiccollapseblog.com/archives/a-918-point-stock-market-crash-in-japan-and-deutsche-bank-denies-that-it-is-about-to-collapse/deutsche-bank-record-low)
Deutsche Bank is the biggest and most important bank in the biggest and most important economy in the EU, and it has exposure to derivatives that is approximately 20 times Germany’s GDP (http://www.zerohedge.com/news/2016-02-09/deutsche-desperation-twist-talk-save-stock-sheep-slaughter).
If that doesn’t alarm you, I don’t know what will.
The biggest financial bubble in the history of the world has entered a terminal phase, and the parallels to the last financial crisis have become so apparent that just about anyone can see them at this point. Just consider some of the ominous warnings that we have seen recently (http://thesovereigninvestor.com/exclusives/80-stock-market-crash-to-strike-in-2016/?z=451509)…
Billionaire Carl Icahn, for example, recently raised a red flag on a national broadcast when he declared, “The public is walking into a trap again as they did in 2007.”
And the prophetic economist Andrew Smithers warns, “U.S. stocks are now about 80% overvalued.”
Smithers backs up his prediction using a ratio which proves that the only time in history stocks were this risky was 1929 and 1999. And we all know what happened next. Stocks fell by 89% and 50%, respectively.
Even the Royal Bank of Scotland says the markets are flashing stress alerts akin to the 2008 crisis. They told their clients to “Sell Everything” because “in a crowded hall, the exit doors are small.”
And let’s not forget that famous billionaire retail magnate Hugo Salinas Price has warned that the global economy “is going into a depression (http://themostimportantnews.com/archives/billionaire-retail-magnate-hugo-salinas-price-says-that-the-world-is-heading-into-an-economic-depression)“.
The chaos that we have seen this week is simply a logical progression of the crisis that began during the second half of last year. If you were to create a checklist of all the things that you would expect to see during the initial stages of a new financial crisis, all of the boxes would be checked.
In the days ahead, keep your eyes on Germany and Japan.
Yes, the Italian banking system is completely collapsing right now (http://themostimportantnews.com/archives/a-run-on-the-banks-begins-in-italy-as-italian-banking-stocks-collapse), but I believe that what is happening in Germany is going to be the key to the meltdown of Europe, and I am convinced that Deutsche Bank is going to be the star of the show.
Meanwhile, don’t underestimate what is taking place in Japan.
The Japanese still have the third largest economy on the entire planet, and their financial system is essentially a Ponzi scheme built on top of a house of cards that has a rapidly aging population as the foundation.
As Japan falls, that will be a signal that financial Armageddon is now upon us.
And after last night, it appears that moment is a lot closer than a lot of us may have thought.
http://theeconomiccollapseblog.com/archives/a-918-point-stock-market-crash-in-japan-and-deutsche-bank-denies-that-it-is-about-to-collapse
heres a better story By Greg Hunter’s USAWatchdog.com (http://beforeitsnews.com/r2/?url=http://usawatchdog.com/)(Special Release)
http://usawatchdog.com/wp-content/uploads/2016/04/22.jpg
According to financial writer Bill Holter, we are getting to the end of the gold and silver price suppression game. Holter contends, “Because the inventories are so small, silver and gold registered categories (at COMEX) total about $1.2 billion. That’s nothing in today’s world. That’s less than one day’s interest the U.S. pays on its debt. I don’t see this going for a long time because inventories are so small. . . . This whole suppression game on gold and silver was brought about to protect the reserve currency, the dollar, because gold is a direct competitor with the dollar. If the silver market blows up, and I shouldn’t say if, it’s when the silver market blows up, that’s going to blow the gold market up, and that is basically going to expose the fact the West is a fraud, that the gold and silver markets were a fractional reserve Ponzi scheme. That’s going to blow confidence, and you are going to see derivatives blow up all over the world, and markets will be closed in a couple of days.”
Holter, who is also an expert on gold, goes on to warn, “The world runs on credit, and you going to Walmart or a grocery store each week, the stuff doesn’t appear on shelves, it gets there by several layers of credit. . . . Silver is a teeny tiny domino compared to the whole system, but it will lead to all the dominos coming down. China and Russia know this. It could be two days, two weeks or two months. It could blow before the market opens on Monday morning. You tell me when someone steps up to buy twice as much silver than COMEX can deliver, and that’s it. It is done. This is a seminal moment for the entire Western financial system. . . . It could be any day. The default is coming.”
If criminal bankers would not have conspired to suppress gold for the last several years, what would the price be today? Holter says, “You couldn’t have $5,000 or $10,000 gold and 0% interest rates. I think there would have been a panic into metals (gold and silver) by now because the price suppression has been used to hit people’s emotions. It’s been used to hurt their psyche. I think if they had not dumped all this paper to suppress the price, the pot would have already boiled, and there would have been a run on the banks and a run into the metals.”
So, if the banks would not have criminally suppressed the price of gold, we would already have a gold price that would be thousands of dollars higher than today. Holter says, “Yes, absolutely. Gold is real money that cannot default. That is what this is all about. When the whole system defaults, what’s going to be left standing–gold and silver, real money. They are no one else’s liability.”
Join Greg Hunter as he goes One-on-One with Bill Holter of JSMineset.com. (http://beforeitsnews.com/r2/?url=http://www.jsmineset.com/)
A 918 Point Stock Market Crash In Japan And Deutsche Bank Denies That It Is About To Collapse
http://theeconomiccollapseblog.com/wp-content/themes/atahualpa/images/icons/user.gif By Michael Snyder, on February 9th, 2016
http://theeconomiccollapseblog.com/wp-content/uploads/2016/02/Financial-Crisis-2016-460x254.jpg (http://theeconomiccollapseblog.com/archives/a-918-point-stock-market-crash-in-japan-and-deutsche-bank-denies-that-it-is-about-to-collapse/financial-crisis-2016)On Tuesday junk bonds continued to crash (http://finance.yahoo.com/echarts?s=JNK+Interactive#%7B%22range%22:%22max%22 ,%22allowChartStacking%22:true%7D), the price of oil briefly dipped below 28 dollars a barrel, Deutsche Bank was forced to deny that it is on the verge of collapse, but the biggest news was what happened in Japan. The Nikkei was down a staggering 918 points, but that stock crash made very few headlines in the western world. If the Dow had crashed 918 points today, that would have been the largest single day point crash in all of U.S. history. So what just happened in Japan is a really big deal. The Nikkei is now down 23.1 percent from the peak of the market, and that places it solidly in bear market territory. Overall, a total of 16.5 trillion dollars (http://www.zerohedge.com/news/2016-02-09/world-equity-market-wealth-crashes-6-trillion-below-2007-highs) of global stock market wealth has been wiped out since the middle of 2015. As I stated yesterday (http://theeconomiccollapseblog.com/archives/day-of-reckoning-the-collapse-of-the-too-big-to-fail-banks-in-europe-is-here), this is what a global financial crisis looks like.
Just as we saw during the last financial crisis, the big banks are playing a starring role, and this is definitely true in Japan. Right now, Japanese banking stocks are absolutely imploding, and this is what drove much of the panic last night. The following numbers come from Wolf Richter (http://wolfstreet.com/2016/02/09/fear-hits-japanese-banks-nikkei-plunges-10-year-yield-negative-for-first-time-ever/)…
Mitsubishi UFJ Financial Group plunged 8.7%, down 47% from June 2015.
Mizuho Financial Group plunged 6.2%, down 38% since June 2015.
Sumitomo Mitsui plunged 6.2%, down 26% since May 2015
Nomura plunged a juicy 9.1%, down 42% since June 2015
A lot of analysts have been very focused on the downturn in China in recent months, but I think that it is much more important to watch Japan right now.
I have become fully convinced that the Japanese financial system is going to play a central role in the initial stages of this new global financial meltdown, and so I encourage everyone to keep a close eye on the Nikkei every single night.
Meanwhile, the stock price of German banking giant Deutsche Bank crashed to a record low (http://www.zerohedge.com/news/2016-02-09/deutsche-bank-stock-crashes-record-low) on Tuesday. If you will recall, Deutsche Bank reported a loss of 7.6 billion dollars (http://money.cnn.com/2016/02/09/news/companies/deutsche-bank-ceo-cryan-letter/index.html?iid=hp-stack-dom) in 2015, and I wrote quite a bit about their ongoing problems yesterday (http://theeconomiccollapseblog.com/archives/day-of-reckoning-the-collapse-of-the-too-big-to-fail-banks-in-europe-is-here).
Things have gotten so bad that now Deutsche Bank has been forced to come out and publicly deny that they are in trouble (http://www.usatoday.com/story/money/2016/02/09/deutsche-bank-ceo-says-bank-rock-solid/80049338/#)…
Deutsche Bank co-CEO John Cryan moved to quell fears about the bank’s stability Tuesday with a surprise memo saying its balance sheet “remains absolutely rock-solid.”
The comments come as investors grow increasingly nervous about the health of European banks, which have taken a hit on the fall in energy prices and which face rising concerns over their cash levels.
Of course Lehman Brothers issued the same kind of denials just before they collapsed in 2008. Cryan’s comments did little to calm the markets, and even Jim Cramer (http://www.cnbc.com/2016/02/09/cramer-european-banks-have-a-plan.html) saw right through them…
“You know, Deutsche Bank puts out a note saying, ‘listen, don’t worry, all good.’ Reminds me of JPMorgan saying if you have to say that you’re creditworthy then it’s already too late.”
Another thing that Lehman Brothers did just before they collapsed in 2008 was to lay off workers. We have seen a number of major banks do this lately, including Deutsche Bank (http://www.bloomberg.com/news/articles/2016-02-08/deutsche-bank-says-it-has-at1-payment-capacity-of-1-1-billion)…
Cryan, 55, has been seeking to boost capital buffers and profitability by cutting costs and eliminating thousands of jobs as volatile markets undermine revenue and outstanding regulatory probes raise the specter of fresh capital measures to help cover continued legal charges. The cost of protecting Deutsche Bank’s debt against default has more than doubled this year, while the shares have dropped about 42 percent.
The following chart comes from Zero Hedge (http://www.zerohedge.com/). Nobody on the Internet does a better job with charts than Zero Hedge does. I would recommend visiting them right after you visit The Economic Collapse Blog each day (wink wink). This chart shows that Deutsche Bank stock has already fallen lower than it was during any point during the last financial crisis…
http://theeconomiccollapseblog.com/wp-content/uploads/2016/02/Deutsche-Bank-Record-Low-460x238.jpg (http://theeconomiccollapseblog.com/archives/a-918-point-stock-market-crash-in-japan-and-deutsche-bank-denies-that-it-is-about-to-collapse/deutsche-bank-record-low)
Deutsche Bank is the biggest and most important bank in the biggest and most important economy in the EU, and it has exposure to derivatives that is approximately 20 times Germany’s GDP (http://www.zerohedge.com/news/2016-02-09/deutsche-desperation-twist-talk-save-stock-sheep-slaughter).
If that doesn’t alarm you, I don’t know what will.
The biggest financial bubble in the history of the world has entered a terminal phase, and the parallels to the last financial crisis have become so apparent that just about anyone can see them at this point. Just consider some of the ominous warnings that we have seen recently (http://thesovereigninvestor.com/exclusives/80-stock-market-crash-to-strike-in-2016/?z=451509)…
Billionaire Carl Icahn, for example, recently raised a red flag on a national broadcast when he declared, “The public is walking into a trap again as they did in 2007.”
And the prophetic economist Andrew Smithers warns, “U.S. stocks are now about 80% overvalued.”
Smithers backs up his prediction using a ratio which proves that the only time in history stocks were this risky was 1929 and 1999. And we all know what happened next. Stocks fell by 89% and 50%, respectively.
Even the Royal Bank of Scotland says the markets are flashing stress alerts akin to the 2008 crisis. They told their clients to “Sell Everything” because “in a crowded hall, the exit doors are small.”
And let’s not forget that famous billionaire retail magnate Hugo Salinas Price has warned that the global economy “is going into a depression (http://themostimportantnews.com/archives/billionaire-retail-magnate-hugo-salinas-price-says-that-the-world-is-heading-into-an-economic-depression)“.
The chaos that we have seen this week is simply a logical progression of the crisis that began during the second half of last year. If you were to create a checklist of all the things that you would expect to see during the initial stages of a new financial crisis, all of the boxes would be checked.
In the days ahead, keep your eyes on Germany and Japan.
Yes, the Italian banking system is completely collapsing right now (http://themostimportantnews.com/archives/a-run-on-the-banks-begins-in-italy-as-italian-banking-stocks-collapse), but I believe that what is happening in Germany is going to be the key to the meltdown of Europe, and I am convinced that Deutsche Bank is going to be the star of the show.
Meanwhile, don’t underestimate what is taking place in Japan.
The Japanese still have the third largest economy on the entire planet, and their financial system is essentially a Ponzi scheme built on top of a house of cards that has a rapidly aging population as the foundation.
As Japan falls, that will be a signal that financial Armageddon is now upon us.
And after last night, it appears that moment is a lot closer than a lot of us may have thought.
http://theeconomiccollapseblog.com/archives/a-918-point-stock-market-crash-in-japan-and-deutsche-bank-denies-that-it-is-about-to-collapse