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Armageddon as EU leaders axe summit with no deal on Greece
Gold Daily and Silver Weekly Charts - Calm Before the Storm
Harvey Organ: Banksters Run For Cover!
Gold Slips Amid the China Meltdown. So Far

Armageddon as EU leaders axe summit with no deal on Greece

Posted: 12 Jul 2015 05:38 AM PDT

European Union leaders from the 28 member states have cancelled a planned summit on Sunday because finance ministers were unable to reach an agreement on Greece in time.

Germany apparently called for direct control of the Greek public authorities from Brussels and securing 50 billion euros of Greek assets in a special account as debt security. There seems to be little mood to compromise.

Black Monday

That means global financial markets will open without a solution to the five-year long Greek debt crisis and the very real probability that there will not be a solution.

Expect another round of sell-offs amid market nerves about the 330 billion euro Greek debt mountain, and what a disorderly exit from the euro by Greece would mean for the banking system. Nobody really knows were the losses will lie until this happens.

When Asian markets open Chinese shares may come under renewed downward pressure as the anticipated deal just has not been done.

Asian impact

The Chinese currency is effectively pegged to the US dollar and has become hopelessly uncompetitive as the euro has fallen. It will fall again on Monday morning, dragging the commodities complex down too.

Having the Chinese stock markets crashing at the same time as a Greek exit from the euro is almost a perfect storm. We are moving out of the eye of Bill Gross’s hurricane and into the vortex…

Gold Daily and Silver Weekly Charts - Calm Before the Storm

Posted: 11 Jul 2015 10:00 PM PDT

Le Cafe Américain

Harvey Organ: Banksters Run For Cover!

Posted: 11 Jul 2015 09:00 PM PDT

HUGE AMOUNTS OF SILVER BEING PICKED UP BY MAJOR PLAYERS… Submitted by Harvey Organ: Good evening Ladies and Gentlemen: Here are the following closes for gold and silver today: Gold: $1157.70 down $5.20 (comex closing time) Silver $15.47 up 12 cents. In the access market 5:15 pm Gold $1163.40 Silver: $15.58 […]

The post Harvey Organ: Banksters Run For Cover! appeared first on Silver Doctors.

Gold Slips Amid the China Meltdown. So Far

Posted: 11 Jul 2015 01:45 PM PDT

Bullion Vault