Saturday, June 25, 2016

saveyourassetsfirst3

saveyourassetsfirst3


Onward Toward Bullion Bank Collapse

Posted: 25 Jun 2016 09:14 AM PDT

The events of Friday not only speed the eventual collapse of the Bullion Bank Paper Derivative Pricing Scheme, they also highlight the fraud of this current system and shine light upon the utter desperation of these Banks to maintain it.

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The Black Swan Has Arrived - Markets In Collapse

Posted: 25 Jun 2016 08:30 AM PDT

Brexit, Gold, Silver and Interest Rates

Posted: 25 Jun 2016 08:10 AM PDT

The Daily Gold

Breaking News And Best Of The Web

Posted: 25 Jun 2016 08:00 AM PDT

UK Votes to leave EU, markets stunned. Stocks plunge worldwide, gold soars, volatility spikes, pound tanks. Gold COTs are “over the top.” Central banks seem to be losing control of the narrative. Bitcoin jumps. Trump campaign in chaos while polls show dead heat in battleground states.   Best Of The Web The sky has not […]

The post Breaking News And Best Of The Web appeared first on DollarCollapse.com.

Gold & Brexit

Posted: 25 Jun 2016 01:20 AM PDT

Gains Pains & Capital

“Gasoline Thrown On the Fire”: Today is Just the Beginning…

Posted: 24 Jun 2016 07:55 PM PDT

Market Bloodbath Monday? They Won’t Be Able to Stabilize the Markets Until We Go ALOT Lower… SD Weekly Metals and Markets is Below!   With the Shocking BREXIT Vote Unleashing CHAOS in the Markets – Gold Surges $100, Pound Sterling Crashes Nearly 11%, DOW Plunges 600 Points, The Doc & Dubin Break Down All the […]

The post “Gasoline Thrown On the Fire”: Today is Just the Beginning… appeared first on Silver Doctors.

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Gold Daily and Silver Weekly Charts -

Posted: 24 Jun 2016 06:00 PM PDT

Le Cafe Américain

Black Friday: Shocking Brexit Vote Result Causes The 9th Largest Stock Market Crash In U.S. History

Posted: 24 Jun 2016 04:36 PM PDT

Brexit Vote - Public DomainHas 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.

The shocking outcome of the Brexit vote caught financial markets completely off guard, and the carnage that we witnessed on Friday was absolutely staggering…

-The Dow Jones Industrial Average plunged 610 points, and this represented the 9th largest one day stock market crash in the history of the Dow.

-The Nasdaq was hit even harder than the Dow.  It declined 4.12 percent which was the biggest one day decline since 2011.

-Overall, Black Friday erased approximately 800 billion dollars of stock market wealth in the United States.

-Thursday was the worst day ever for the British pound, and investors were stunned to see it collapse to a 31 year low.

-Friday was the worst day ever for European banking stocks.

-Friday was the worst day for Italian stocks since 1997.

-Friday was the worst day for Spanish stocks since 1987.

-Japan experienced tremendous chaos as well.  The Nikkei fell an astounding 1286 points, and this was the biggest drop that we have seen in more than 16 years.

-Banking stocks all over the planet got absolutely pummeled on Black Friday.  The following comes from USA Today

Stocks of some British-based banks suffered double-digit losses in heavy U.S. trading. Barclays (BCS) shares plunged 20.48% to close at $8.89. HSBC (HSBC) shares closed down 9.04% at $30.68. And shares of Royal Bank of Scotland (RBS) plummeted 27.5% to a $5.43 close.

Top U.S. banks also suffered from the Brexit fallout, although not as badly as their British counterparts.

Shares of JPMorgan Chase (JPM) closed down 6.95% at $59.60. Bank of America (BAC) shares fell 7.41% to a $13 close. Citigroup (C) shares dropped 9.36% to close at $40.30. And Wells Fargo (WFC) closed 4.59% lower at $45.71.

-Friday was the best day for gold since the collapse of Lehman Brothers.

-George Soros made a killing on Black Friday because he had already positioned his company to greatly benefit from the Brexit vote ahead of time.

But please don’t think that “Black Friday” was just a one day thing.  As I warned before, the Brexit vote “could be the trigger that changes everything“.  And if you don’t believe me on this, perhaps you will listen to former Federal Reserve Chairman Alan Greenspan.  This is what he told CNBC on Friday…

This is the worst period, I recall since I’ve been in public service,” Greenspan said on “Squawk on the Street.”

“There’s nothing like it, including the crisis — remember October 19th, 1987, when the Dow went down by a record amount 23 percent? That I thought was the bottom of all potential problems. This has a corrosive effect that will not go away.”

I completely agree with Greenspan on this point.  This “corrosive effect” on global markets is not going to go away any time soon.  Sure there will be days when the markets are green just like there were after the collapse of Lehman Brothers, but overall the trend will be down.

Now that the United Kingdom has decided to leave the EU, financial markets have been gripped by fear and uncertainty, and there is a great deal of concern that this Brexit “could harm the economies of everyone involved”

Important British trading partners — including India and China — indicated they were worried that an exit would create regulatory and political volatility that could harm the economies of everyone involved.

The U.K.’s Treasury itself reported that its analysis showed the nation “would be permanently poorer” if it left the EU and adopted any of a number of likely alternatives. “Productivity and GDP per person would be lower in all these alternative scenarios, as the costs would substantially outweigh any potential benefit of leaving the EU,” a summary of the report said.

This threat even extends to the United States.  CNN just published an article that lists four ways the U.S. could be significantly affected by all of this…

1. Fears that the EU may be falling apart
2. Volatile markets slow down the engine of U.S. growth
3. Brexit triggers a strong dollar, which hurts U.S. trade
4. Brexit forces the Fed to rewrite its rate hike playbook

Fortunately we are now heading into the weekend, and that might have a calming effect on the markets.

Or it might just cause financial tension to build up to an extremely high level which will subsequently be released on Monday morning.

We shall see.

RCB’s Charlie McElligott is warning that Black Friday was just the beginning and that “today is the appetizer for Monday”.

And UBS derivatives strategist Rebecca Cheong says that we could see more than a hundred billion dollars of selling over the next two to three trading days

Strategies designed to mitigate risk will actually add to downward pressure in the S&P 500 over the next week as computerized selling ramps up to keep pace with falling prices. It reminds Cheong of the rapid stock selling that roiled markets in August, when the S&P 500 fell 11 percent to a 10-month low while facing similar behavior from algorithmic traders.

"The bigger the down move today, the more they have to sell, which would basically create a vicious cycle," Cheong, head of Americas equity derivatives strategy at UBS, said in a phone interview. "We'll see front-loaded selling in the range of $100 billion to $150 billion over the next two to three days. It could be very similar to August in terms of model-based selling."

Personally, I am hoping for calm when the markets open on Monday.  But without a doubt, something has now shifted as a result of this Brexit vote, and things have suddenly become a whole lot more serious.

So what do you believe we will see happen next week?

Please feel free to tell us what you think by posting a comment below…

*About the author: Michael Snyder is the founder and publisher of The Economic Collapse Blog. Michael's controversial new book about Bible prophecy entitled "The Rapture Verdict" is available in paperback and for the Kindle on Amazon.com.*

Dan Norcini Discusses Brexit, Gold, Silver & Interest Rates

Posted: 24 Jun 2016 03:31 PM PDT

Professional trader Dan Norcini, (traderdan.com) returns to discuss and analyze these markets in the wake of Brexit.

 

2014 Resistance Holding Gold Stocks after Brexit

Posted: 24 Jun 2016 02:31 PM PDT

What a last 24 hours for markets! At one point Gold was up $100/oz, S&P futures were limit down and the British Pound was down over 8%! The volatility has subsided, perhaps temporarily and Gold settled around $1320/oz with Silver settling below key resistance at $18. The miners predictably gapped up but the strength was sold. As miners remain below 2014 resistance we expect Gold to retest $1300/oz before moving higher.

The chart below plots the weekly candlestick charts of GDXJ (top) and GDX. The miners gained 5% to 6% on the week thanks to Brexit but note that miners sold off today after testing 2014 resistance. GDXJ, which has resistance at $43-$45 reached $43.76 today before declining and GDX, which has resistance at $27-$28, reached $27.71 before declining.

June242016minerswk

GDX, GDXJ Weekly Candles

 

We should also note that the miners remain stretched when viewed through the lenses of history. Specifically, Brexit pushed the rebound above the 2008-2009 rebound.

June242016HuiBulls

HUI Bull Analog

 

Given the action in the miners today and their historically overbought condition, coupled with Gold selling off from much higher levels, I expect Gold to retest $1300/oz next week. A retest is only that and nothing more. While Gold has technically not formed a reverse head and shoulders bottom, it nevertheless has a potential measured target of $1550/oz. There is some resistance at $1330 and $1380 to $1400. However, there is very little resistance from $1400 to $1550.

June242016Gold

Gold Weekly Candles

 

News events rarely change market trends as the market typically leads news but Brexit could be an indication of a new bullish development for precious metals. That would be the long-term disintegration of Europe which would be very negative for the Euro, the world's second largest currency. This news propelled Gold through $1300 and could be the catalyst to take it towards $1400 over the next few months. Meanwhile, the gold stocks could back and fill just a bit before again testing 2014 resistance levels. Consider learning more about our premium service including our favorite junior miners which we expect to outperform in the second half of 2016.

 

Jordan Roy-Byrne CMT, MFTA

Jordan@TheDailyGold.com

 

Markets Roiled as Britain Votes Itself Out of EU

Posted: 24 Jun 2016 02:00 PM PDT

The Gold Report

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