ECB Blows €400billion on 'Brexit Black Friday' Bank Bailouts

[singular_me]

not too shabby, huh ?

and sure, at the expense of EU taxpayers

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http://www.activistpost.com/wp-content/uploads/2016/06/euro-burning.jpg

ECB Blows €400billion on 'Brexit Black Friday' Bank Bailouts
28 June 2016 GMT
‘Remember TARP, the Troubled Asset Relief Program that the US Congress approved to bail out banks and other companies during the Financial Crisis? $700 billion were authorized, later reduced to $475 billion. The Treasury eventually dispersed $432 billion. I bring this up because the ECB bailed out the European banks with more than TARP, in just one day: on Brexit Black Friday.’

http://wolfstreet.com/2016/06/26/ecb-spends-400-billion-on-brexit-black-friday-bank-bailout/




We Just Witnessed The Greatest One Day Global Stock Market Loss In World History
28 June 2016 GMT
‘More stock market wealth was lost on Friday than on any other day in world history. As you will see below, global investors lost two trillion dollars on the day following the Brexit vote. And remember, this is on top of the trillions that global investors have already lost over the past 12 months. It is important to understand that the Brexit vote was not the beginning of a new crisis – it has simply accelerated a global financial crisis that started last year and that was already in the process of unfolding. As I noted on Friday, we have been waiting for “the next Lehman Brothers moment” that would really unleash fear and panic globally, and now we have it. The next six months should be absolutely fascinating to watch.

According to CNBC, the total amount of money lost on global stock markets on Friday surpassed anything that we had ever seen before, and that includes the darkest days of the financial crisis of 2008…’



Worldwide markets hemorrhaged more than $2 trillion in paper wealth on Friday, according to data from S&P Global, the worst on record. For context, that figure eclipsed the whipsaw trading sessions of the 2008 financial crisis, according to S&P analyst Howard Silverblatt.

The prior one day sell-off record was $1.9 trillion back in September of 2008, Silverblatt noted. According to S&P’s Broad Market Index, combined market capitalization is currently worth nearly $42 trillion.

And of course many of the wealthiest individuals on the planet got absolutely hammered. According to Bloomberg, the 400 richest people in the world lost a total of $127.4 billion dollars on Friday…

The world’s 400 richest people lost $127.4 billion Friday as global equity markets reeled from the news that British voters elected to leave the European Union. The billionaires lost 3.2 percent of their total net worth, bringing the combined sum to $3.9 trillion, according to the Bloomberg Billionaires Index. The biggest decline belonged to Europe’s richest person, Amancio Ortega, who lost more than $6 billion, while nine others dropped more than $1 billion, including Bill Gates, Jeff Bezos and Gerald Cavendish Grosvenor, the wealthiest person in the U.K.

more
http://www.activistpost.com/2016/06/greatest-one-day-stock-market-loss.html

[singular_me]

although I have grown tired with the topic, ellen brown's articles are always excellent

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Brexit and the Derivatives Time Bomb

Posted on July 1, 2016 by Ellen Brown

Brexit could trigger a $500 trillion derivatives meltdown, by forcing the EU to allow insolvent member governments and banks to write down debt. Italy is in financial crisis and is already petitioning for that concession. How to avoid collapse of the massive derivatives house of cards? Alternatives are considered.

Sovereign debt – the debt of national governments – has ballooned from $80 trillion to $100 trillion just since 2008. Squeezed governments have been driven to radical austerity measures, privatizing public assets, slashing public services, and downsizing work forces in a futile attempt to balance national budgets. But the debt overhang just continues to grow.

Austerity has been pushed to the limit and hasn’t worked. But default or renegotiating the debt seems to be off the table. Why? According to a June 25th article by Graham Summers on ZeroHedge:
. EVERY move the Central Banks have made post-2009 has been aimed at avoiding debt restructuring or defaults in the bond markets. Why does Greece, a country that represents less than 2% of EU GDP, continue to receive bailouts instead of just defaulting?

MORE
https://ellenbrown.com/2016/07/01/brexit-and-the-derivatives-time-bomb/


The trap explained. Life is spiritually driven, world can only change if each individual grasps this.

https://www.youtube.com/watch?v=oGab38pKscw

[singular_me]

calling brexit an anti-elite victory is still premature

https://www.rt.com/uk/349179-brexit-protest-london-saturday/?utm_source=browser&utm_medium=aplication_chrome&utm_campaign=chrome

https://www.youtube.com/watch?v=aSfRGiPmxPU

[singular_me]

The image sez it all again?
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Wayne MADSEN | 02.07.2016
The EU's Architects: Nazis and Nazi Collaborators
http://www.strategic-culture.org/images/news/2016/07/02/or-37546.jpg

‘There is an old adage that pertains to the founding of the European Union “If at first you don’t succeed, try, try, again”. And for the Nazis and Nazi collaborators of the Second World War, viewing the post-war European death and destruction brought about by Adolf Hitler and his “Third Reich” alliance of Italian fascists, French Vichy, and others, the immediate decision was to “try again” with a European Union that would establish the same European super-state envisaged by Hitler but with a decidedly “democratic” aura.

What eventually became the EU, the European Coal and Steel Community, was formed by six Western European countries in 1951. The organization was the brainchild of Robert Schuman, a French politician who swore allegiance to Marshal Philippe Petain, the French Vichy leader and ally of the mustachioed German ex-corporal. Schuman was later stripped of his political rights for his collaboration with the hated German bosche. However, Free French commander, General Charles De Gaulle, restored Schuman’s full citizenship, after which the old Vichy collaborator set about to create a modified version of the Third Reich, the European Union.’
http://www.strategic-culture.org/news/2016/07/02/the-eu-architects-nazis-and-nazi-collaborators.html

[Horn]

The timing is by design and the arguments against created and presented by MSM are weak.

Its like a reverse of that 1% revolt that happened on Market St.,
one refferrendum vote appears to have decided Everything its ALL DONE.


Farage to resign as UKIP leader in wake of 'Brexit' vote




Nigel Farage announced Monday that he will step down as the leader of the UK Independence Party (http://www.ukip.org/), saying, "I've done my bit" to get Britain out of theEuropean Union (http://www.cnn.com/2013/06/06/world/europe/european-union-fast-facts/).

He said the party was "in a good position" following theEU referendum (http://www.cnn.com/specials/uk-referendum) and that his political ambition had been achieved.

http://edition.cnn.com/2016/07/04/europe/farage-resign-ukip-brexit/index.html

Either way the International Bank wins here,

if U.K. decides to rejoin at this point, it will be required to austerity and throw away the Pound Sterling

[singular_me]

well not out of the woods just yet

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https://www.youtube.com/watch?v=599bffNRx0Y

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In a draft Budget revealed by the EU commission, Britain must pay the sum of £12 billion into the EU coffers next year despite Brexit.

This will go to funding a new EU coastguard operation and groundwork for an EU army and asylum operations.

Read more: Britain Must Pay £12 Billion to Brussels Despite Brexit Demands EU
http://www.express.co.uk/news/uk/686048/EU-referendum-Brussels-Britain-pay-12billion-budget-Brexit-vote


Second Brexit referendum ‘may be justified,’ says ex-attorney general
6 July 2016 GMT
https://www.rt.com/uk/349548-second-brexit-referendum-remain/?utm_source=browser&utm_medium=aplication_chrome&utm_campaign=chrome


---------------- SURPRISINGLY???
British Jewish families want to go back to Germany amid Brexit: Report
Jewish refugees immigrated to Britain to escape the Nazi prosecution in the wake of World War II, but their descendants now want German nationality following the UK historic referendum in which 52 percent (17.4 million) of British voters chose to leave the EU, while roughly 48 (16.14 million) percent of people voted to stay in the union.
http://www.presstv.ir/Detail/2016/07/04/473636/UK-EU-Britain-Brexit-Germany-Jewish-families

[singular_me]

only a minority of danish people is better informed



https://www.youtube.com/watch?v=1qsXDtDklQY

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MEP’s in Brussels have voted overwhelmingly to being back border controls to restrict the free movement of migrants.

The border control agency Frontex will be replaced by a new organisation, the European Border and Coastguard agency which will be given increased powers.

Read more: Schengen is Dead? MEPs vote to bring back border controls
http://www.express.co.uk/news/world/686697/European-Union-Schengen-zone-migrant-crisis-immigration-Frontex

[monty]

only a minority of danish people is better informed

That is true of most countries, dumbing down of the masses. More beer, more football and TV.

[singular_me]

european debt orgy coming to an end
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Saxo Fears 'Cascading Implosion' As Italian Bank Collapse Continues
7 July 2016 GMT

‘While the picture is a little more mixed today in Italian banks, as it appears investors are picking winners and losers rather than just broadly dumping it all, Monte Paschi is a standout disaster. Having crashed 45% since Brexit and with CDS implying a 40%-plus probability of default, the major Italian bank also has the worst ‘Texas ratio’ as stress tests loom… As Saxo’s Peter Garnry warns “an implosion of the Italian banking system would cascade into other European banks and the funding market, creating disorderly markets and lower sentiment causing a slowdown in economic growth and also prices.”‘
http://www.zerohedge.com/news/2016-07-05/saxo-fears-cascading-implosion-italian-bank-collapse-continues

[singular_me]

more doomed than that is impossible

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Former EU President Hired As New Chairman of Goldman Sachs International
http://www.breitbart.com/london/2016/07/09/former-european-union-president-hired-as-new-chairman-of-goldman-sachs-international/



'Europe is extremely sick', says Deutsche Bank chief economist
12 July 2016 GMT
‘Brussels urgently needs a €150 billion bailout to begin a major recapitalization program for its banks, according to Deutsche Bank’s David Folkerts-Landau.

In the aftermath of UK’s Brexit vote, the focus of attention has switched to Italy’s banking sector, which has accumulated €360 billion in bad loans, and growing.

A former member of the ECB executive board Lorenzo Bini Smaghi, and now chairman at Societe Generale, has warned the banking crisis in Italy could spread to the entire EU.’
https://www.rt.com/business/350622-european-banks-crisis-deutsche-bank/?utm_source=browser&utm_medium=aplication_chrome&utm_campaign=chrome

[singular_me]

amazing that they can so much over-inflate an economy like that.... seemingly almost indefinitely, but we all know that it there will be a brick wall at some point.

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‘Three months ago, when Italy’s renewed bank troubles were reemerging again, and the country unveiled its first, and certainly not last, “bad bank” in the shape of the “Atlas” (or Atlante) bailout fund, we – as well as everyone else – mocked it for one obvious reason – at only €5 billion it was far too small to make an impact, as we explained in “Size Matters: Analysts Mock Italy’s Tiny “Atlas” Bailout Fund Meant To Support €360BN In Bad Debt.”

In late June, following the Brexit vote when the Italian bank undercapitalization and the nation’s massive bad debt problem was once again exposed, it became all too obvious just how undercapitalized Italy truly is when in one attempt after another, Italy’s Prime Minister Matteo Renzi begged Europe to allow him to implement a €50 billion bailout (not a bail-in) of Italy’s banks contrary to the new BRRD regulations.’

Read more: Italy Tasks JPMorgan With Creating A €50 Billion Bank Bailout
http://www.zerohedge.com/news/2016-07-17/italy-tasks-jpmorgan-creating-%E2%82%AC50-billion-bank-bailout
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EU rules forbid bank bailouts using public funds, Italy Next?
isnt it ironic? EBC unleashes floods of money, one QE after another, but banks cannot be rescued.
http://gold-silver.us/forum/showthread.php?91536-EU-rules-forbid-bank-bailouts-using-public-funds-Italy-Next&highlight=europe+bank+bailout