6-16-2012 Austin-Powers-For-PM: We have known for sometime that June would be a big month what with the institution of the Tariffs in Iraq, and the possible lifting of Chapter 7 (which didn't happen, and should have been easily predicted).
Some have said that this RV will come like a "Thief in the Night" but with the magnitude of what has been proposed and the staffing level that would need to be present at financial institutions world wide, it would be like trying to hide an elephant in your back yard.
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Then we had the Greek elections on May 6th that were so inconclusive that they had no choice but to have a do-over on June 17th, thus creating tension and angst in the marketplace.
Voila, the PTB's had their date to put banks on full alert knowing that the potential of Syriza and Alexis Tsipras victory in Greece would freak out the markets and thus the need for an "all hands on deck" event.
If we look in parallel at the articles that are coming out of Iraq today announcing that the political crisis will suddenly come to an end in the next day or two, it tells us that we have a major event arriving in the next day or two.
Even if it doesn't hit on Sunday, the Greek political drama will give plenty of cover over the next 5-7 days for this to happen.
IMO, the only reason this doesn't happen by the end of June is if Maliki stops a No Confidence vote in Parliament and comes out stronger than ever, and if the Pro-Bailout parties win in Greece and reaffirm the bailout, giving more time for the Euro Zone to dither around with their future. Both would have to happen to stall the RV.