MY LADIES: <<< Africa: South Africa Names Brics Bankers
The Brics New Development Bank is expected to be up and running by the end of this year, according to the National Treasury .
The Cabinet had endorsed the nomination of Leslie Maasdorp as vice-president of the bank, while Tito Mboweni had been appointed as the non-executive director to the board of the bank, Finance Minister Nhlanhla Nene said on 26 June.
"It is also a pleasure to announce that the Agreement on the New Development Bank and the Treaty for the establishment of a Brics Contingent Reserve Arrangement have been ratified by our Parliament," he said.
The bank was expected to be operational by end of 2015, and the process to establish the African Regional Centre was under way. As soon as the bank opened for business, the centre would also be open to consider projects on the continent.
MY LADIES: OK SO SOUTH AFRICA HAS THE NEW BANK BUILDING FOR THIER COUNTRY READY TO GO AS SOON AS THE BANK IS OPEN FOR BUSINESS.
The inaugural meeting of the Board of Governors of the Brics New Development Bank will take place on 7 July in the Russian city of Ufa, when the management will be formerly appointed.
MY LADIES: SO IT SEEMS JULY 7TH IS THE OFFICIAL APPOINTMENT OF THE MANAGEMENT TITLES FOR THE BANK.
THE HEADQUARTERS WILL STAY IN CHINA
The bank will have its headquarters in Shanghai and is expected to have up to $100-billion (R1.2-trillion) in capital.
MY LADIES: OK SO THIS IS IMPORTANT FOR US TO UNDERSTAND THE BANK IS SCHEDULED TO OPEN THE END OF THE YEAR, WHICH IS THE SAME AS THE AIIB
PrincessDD: I was wondering if they will come back with 101 reasons to open sooner like next month…. maybe thats a tentative date?
MY LADIES: I DON'T THINK THAT IS POSSIBLE, THEY DON'T HAVE AN INTERNAL STRUCTURE YET THAT WILL BE WORKED ON IN JULY
PrincessDD: US Urges Greece to Resolve Financial Crisis http://www.voanews.com/content/us-urges-greece-to-resolve-financial-crisis-within-eurozone/2841229.html
Princess DD: <<< The picture on that article is so sad. There is an elderly man sitting on a curb crying in Greece.
MY LADIES: MANY GREEKS DO NOT HAVE BANK CARDS, SO THE FINANCE MINISTER SAID THAT ALL PENSIONERS WILL GET THEIR FULL PENSION TODAY.
THEY MADE ARRANGEMENTS FOR THAT ALREADY.
PrincessDD: Thanks goodness. Seeing him cry on the curb is heartbreaking.
MY LADIES: OH I KNOW IT'S A HARD TIME BUT THEY WILL COME UP ON THE OTHER SIDE VERY SOON
PrincessDD: The Latest: Spain says it is protected from Greek turmoil
MY LADIES: WASHINGTON--
U.S. Treasury Secretary Jack Lew urged Greek Prime Minister Alexis Tsipras to find ‘a sustainable’ solution to the Greek financial crisis for the sake of the global economy.
Markets are reacting negatively to the closure of Greek banks and the impasse between Athens and the European Union as Tuesday’s deadline for a Greek loan repayment looms.
Lew also spoke separately Saturday with International Monetary Fund (IMF) chief Christine Lagarde and his French and German counterparts.
President Barack Obama spoke with German Chancellor Angela Merkel Sunday about what the White House calls the critical importance of Greek reform and growth within the Eurozone.
Gary Hufbauer of the Washington-based Peterson Institute for International Economics said the U.S. is alarmed over the potential wider implications of the Greek financial crisis.
THE CHANGE HAS TO START SOME WHERE
"The U.S. is concerned that the chaos in Greece could be infectious and will lead to doubts about Portugal and Spain and Italy and cause trouble , and will cause disunity in Europe’s resolve with respect to Russia over the Ukraine situation," said Hufbauer.
HERE IS THE REAL WORRY
Silvercrest Asset Management chief strategist Patrick Chovanec said that given the breakdown in confidence between Russia and the West, even limited Russian financial help for Greece’s leftist Syriza government represents a geopolitical challenge .
MARKETS LIKE ROUTINE
"It creates uncertainty, especially since it is taking place in a very disorganized way. The immediate result in Greece will probably be an immense amount of pain and so markets don’t like uncertainty.
WHAT HAPPENS IN GREECE DOES NOT NECESSARILY STAY IN GREECE!
"The problems that exist in Greece and the contentious issues between Greece and the rest of Europe, particularly the creditor countries of Europe, they exist in other countries as well, in Spain, in Portugal, even in Italy.
So, the concern is that whatever happens in Greece sets a precedent, whether that is debt forgiveness and that creates a wave of demands for debt to be wiped out, or whether that takes the form of a default or even an exit from the euro.
So, whatever happens in Greece, the concern is not just Greece - it’s the precedent that it sets for the rest of European economies that are under stress,” said Chovanec.
PrincessDD : European banks, bonds shaken by Greek turmoil LONDON | By Patrick Graham http://www.reuters.com/article/2015/06/29/us-markets-global-idUSKCN0P815D20150629
PrincessDD: How will investors profit from the IMF adding the Chinese Yuan to the Basket? http://www.scmp.com/business/markets/article/1829110/how-will-investors-profit-imf-adding-chinese-yuan-basket
MY LADIES: WHAT IS HAPPENING IN THE WORLD OF GOLD, TODAY , TOMORROW AND NEXT MONTH
Huge short-covering rally for gold and silver as Greece and China crash http://news.goldseek.com/GoldSeek/1435517693.php
Gold and silver will see a huge short covering rally on Monday that will lift prices out of their recent trading range and set the precious metals up for stellar price increases in the coming weeks and months.
QUICK SHORT SPIKES
Short positions on the Comex futures exchange are presently at record levels (click here).
This is often the case at key reversal moments.
If the gold price moves against these contracts then they are automatically forced to cover and buy gold, amplifying the movement of the price to the upside.
MY LADIES: OK SO BLACK MONDAY IN GREECE BUT WHAT ABOUT CHINA CRASHING???
Given the limited options for Chinese investors, gold is the obvious choice, especially as it starts to rise in value. This is a huge new source of money set to pour into precious metals.
However, it is the extreme nature of the wrongly-placed short betting that is the reason to expect a particularly dramatic surge in gold and silver prices as Adam Hamilton at Zeal Intelligence pointed out last week, although he did not then know what Greece had installed for the markets or about the Chinese stoke market crash.
These are not one but two extreme catalysts to hit financial markets at the same time.
Monday is going to be quite a moment, and precious metals and the US dollar will be the only winners in the carnage.
WE TOLD YOU TO EXPECT THIS LAST NIGHT RIGHT???
PrincessDD: So China has cut rates for the 4th time (25 basis points this time) since November, they had a 6% drop in stocks overnight, and seeing inflation because they are currently pegged to the USD.
MY LADIES: Record low interest rates in China fail to halt stock market slump http://www.arabianmoney.net/gold-silver/2015/06/29/record-low-interest-rates-in-china-fail-to-halt-stock-market-slump/
Greece may just be a sideshow compared to what is happening now in Chinese financial markets. After the biggest two-week plunge in China’s stock market since 1996, PBOC Governor Zhou Xiaochuan cut interest rates to a record low.
So far this is not stopping the market’s fall.
PrincessDD: Global markets slump as Greece closes banks and debt talks falter http://www.usatoday.com/story/money/markets/2015/06/29/greece-eurozone-default-global-markets/29452797/#
Here we go!
Global stocks plunge as Greece imposes controls on money http://www.washingtonpost.com/business/asian-stock-markets-sink-after-greece-closes-banks/2015/06/28/8d575882-1e0e-11e5-a135-935065bc30d0_story.html
MY LADIES: IT'S VERY EARLY AND THINGS ARE ALREADY A MESS
Just how will this Black Monday pan-out for global financial markets
However, when a black swan crashes into the system – like Greece’s unexpected decision to go bankrupt and throw in the towel with a default to the IMF on Tuesday – then markets go absolutely haywire.
Gains for the dollar and yen and a hike in the gold price are just the beginning
. Asian stocks dropped like a stone with historic interest rates cuts in China failing to prevent another seven per cent fall in the Shanghai Composite.
MY LADIES: ARE YOU ALL SEEING THE DOMINO EFFECT??? HOW ONE MARKET BLEEDS INTO ANOTHER...THE WHOLE THING REALLY IS HELD TOGETHER WITH FISHING LINE AND CHEWING GUM
Futures point to big slumps coming in European and US stock exchanges today.
Will it be a really Black Monday with investor panics across the board or will people be slow to understand the inevitability of the process and leave it to the smart money to get out first?
MANY MANY PEOPLE ARE SLOW TO UNDERSTAND WHAT IS COMING
One analyst in Dubai quoted on Bloomberg was still under the impression that the talks in Greece have a chance.
There are no talks
. The ECB is not providing more emergency financing. The banks are closed. So is the stock market. This is a ’sudden stop’ for the Greek economy.
MY LADIES: WE ARE NOT TRYING TO SCREAM FIRE IN AN ELEVATOR BUT REALLY THIS IS SOMETHING THAT IS GOING TO SPREAD LIKE FIRE.
WE TOLD YOU LAST NIGHT THAT MANY PEOPLE WILL BE BLINDSIDED WITH THIS CONTAGION.
SOME FOLKS IN DINARLAND DO NOT UNDERSTAND AND ONLY WANT TO KNOW HOW WILL THIS AFFECT THE "RV"...WELL I JUST WANT SLAP THEM IN THE FOREHEAD WHEN THEY ASK THAT.
THE NEW SYSTEM IS COMING RIGHT IN FRONT OF US, IRAQ HAS TO JOIN THE MOVEMENT IF THEY ARE TO JOIN THE REAL WORLD
OK LET'S KEEP READING
How far can the European Union ring-fence this disaster? It is not clear so markets have to price in worst case scenarios. And where are the markets?
Sky-high is the answer and ripe for a correction
It is indeed a worst case scenario.
The correction actually started last week in China where bourses have crashed , and over the weekend the People’s Bank of China slashed interest rates to historic low levels.
No safety net
But what can the US and Europe do in response?
They already have super low interest rates.
There is no room to cut them to reassure markets.
In that case markets have to go lower to take up the downward pressure and will not be supported at higher levels.
Nobody really seems to have got this point in the US and Europe. Analysts are still bedazzled by record highs and a long period of only upward movement with minimal corrections.
WELL WE GOT THIS POINT DIDN'T WE??? WE HAVE BEEN WATCHING AND WAITING FOR THIS CORRECTION.
All this is about to change and the movement to the downside will be accentuated by the lack of safety nets. Without them you simply crash to the floor .
PrincessDD: Market Thinks It's Time For Greece To Go http://www.forbes.com/sites/kenrapoza/2015/06/28/market-thinks-its-time-for-greece-to-go/
MY LADIES: Asian Metals Market Update http://news.goldseek.com/InsigniaConsultants/1435557720.php
COMEX FUTURES REPORT
This will be a big week for commodity markets and currency markets.
(1) US June nonfarm payrolls
(2) Greece drama
(3) US Independence day vacation.
These can reverse the current direction of the markets and/or create another big sell off in gold, silver and copper.
In the next two weeks, I am more than confident that a new trend will be there .
It has been easing picking for gold, silver and copper traders. Just sell on any rise and make merry.
This strategy will not work this week as there will be two way price movements.
PrincessDD: Photos: Remember the Greek drachma? It might be coming back. http://qz.com/439611/photos-remember-the-greek-drachma-it-might-be-coming-back/
In pictures: Greeks queue for cash machine withdrawals as crisis intensifies https://blogs.spectator.co.uk/the-spectator/2015/06/in-pictures-greeks-queue-for-cash-machine-withdrawals-as-crisis-intensifies/
PrincessDD: Successful Endeavor: BRICS New Development Bank Progress Inspires AIIB
The NDB bank is expected to become an alternative to Western-dominated financial institutions, such as the IMF and the World Bank.
The BRICS New Development Bank (NDB) idea was proposed in 2011 by the Nobel Laureate Joseph Stiglitz, and despite cynicism in the beginning the five BRICS countries (Brazil, Russia, India, China, and South Africa) were not discouraged.
While Beijing's Asian Infrastructure Investment Bank (AIIB) has won overwhelming support overtime, it was the NDB that served as inspiration to the AIIB initiative, providing momentum for AIIB’s launch in 2013.
Read more: http://sputniknews.com/business/20150628/1023951825.html#ixzz3eS5lRG8u
PrincessDD: Here Comes Puerto Rico Monday – Next Greece http://www.armstrongeconomics.com/archives/34101
MY LADIES: [5:52 AM) Princess DD: <<< Puerto Rico says it can't pay its $100 billion debt http://www.stuff.co.nz/business/world/69813821/puerto-rico-says-it-cant-pay-its-100-billion-debt
MY LADIES: OK SO LET'S TAKE A LOOK A LITTLE CLOSER TO HOME.
The governor of Puerto Rico has decided that the island cannot pay back its more than US$70 billion (NZ$102b) in debt, setting up an unprecedented financial crisis that could rock the municipal bond market and lead to higher borrowing costs for governments across the United States.
Puerto Rico's move could roil financial markets already dealing with the turmoil of the renewed debt crisis in Greece. It also raises questions about the once-staid municipal bond market, which states and cities count on to pay upfront costs for public improvements such as roads, parks and hospitals.
For many years, those bonds were considered safe investments - but those assumptions have been shifting in recent years as a small but steady string of US municipalities, including Detroit, as well as Stockton and Vallejo in California, have tumbled into bankruptcy.
The government's conclusion that it is unable to pay its debts was first reported by the New York Times. "It's accurate," said Gabriela Melendez, a Washington-based spokeswoman for the Puerto Rican government. She said the governor was scheduled to make a televised address updating islanders about Puerto Rico's fiscal crisis on Monday evening.
MY LADIES: WELL THIS IS OLD NEWS WITH A NEW SPIN NOW...SO LET'S SEE WHAT HAPPENS IN COMING DAYS
Bandito Rox: Mary that's not old news! People here are extremely p***** and there not even going to get there tax return and he's raising taxes again from 7% to 11.5% and raising all utilities and in 9 months raising it again and were paying the highest gas prices @ the pump. He's hurting so many people here it ain't funny.
PrincessDD: Do you think we will see a reaction today in the bond market?
Greece’s Debt Crisis Sends Stocks Falling Around Globe http://www.nytimes.com/2015/06/30/business/international/daily-stock-market-activity.html
MY LADIES: YES WE SHOULD, WE ARE SEEING IN OTHER MARKETS
PrincessDD: Risk of Liquidity Trap in Bond Markets Increasing, BIS Says http://www.bloomberg.com/news/articles/2015-06-29/risk-of-liquidity-trap-in-bond-markets-increasing-bis-says
MY LADIES: [7:10 AM] Princess DD: <<< Russia Can't Save Greece From Itself, Even If It Tries (3 minutes ago) http://www.forbes.com/sites/kenrapoza/2015/06/29/russia-cant-save-greece-from-itself-even-if-it-tries/
The Russian government may very well gloat in the fact that the euro can’t save one of its own, but Greece shouldn’t count on the Kremlin to dig them out of their black hole.
YES BUT THERE ARE OTHER WAYS FOR RUSSIA TO HELP
It will be interesting to see if Russia sets up a back door deal to help Greece pay the debt. If not, Greece risks defaulting and ultimately leaving the euro once and for all.
“When Greece leaves the E.U., Russia is waiting and the only power with reasonable resources and determination to do something with Greece,” says Arent Thijsen, a fund manager at T&E Inmaxxa in The Netherlands.
Russia’s new Turkish Stream pipeline, being built with Gazprom and Botas Petroleum Pipeline Corporation, has invited Greece to connect its pipelines to it. This would be another route for Gazprom’s natural gas into the lucrative European market. This is really Russia’s biggest business there at the moment.
ONE DOOR CLOSES AND A WINDOW OPENS
Russia reportedly invited Greece to join the New Development Bank, the global development lender owned by the central banks of Brazil, Russia, India, China and South Africa.
Russia can invite anyone it wants into the NDB, but it is unlikely that other members will permit Greece to join. Greece is not a member of the China-led Asian Infrastructure Investment Bank.
BUT THERE IS STILL TIME
Russia’s relationship with Greece today is one based on Gazprom. That could change if a default comes down to the wire.
PrincessDD: Risk of Liquidity Trap in Bond Markets Increasing, BIS Says
by Katie Linsell June 29, 2015 — 6:19 AM CDT
Global bond markets face the risk of a “liquidity illusion” because holdings are becoming concentrated in the hands of fund managers, according to the Bank for International Settlements.
The top 20 managers account for 40 percent of all assets as dealers reduce inventories, BIS economists wrote in their annual report. Assets under management more than doubled in about a decade to $75 trillion in 2013.
Investors are becoming more influential in credit markets as banks reduce bond holdings to meet regulations introduced since the financial crisis. That shift is making markets more homogeneous, increasing the risk that liquidity will vanish in a selloff.
“The growing size of the asset management industry may have increased the risk of liquidity illusion,” the BIS economists wrote. “Market liquidity seems to be ample in normal times, but vanishes quickly during market stress.”
The BIS comprises 60 central banks as members and defines itself as a bank for central banks. It’s the world’s oldest international financial organization and promotes monetary and financial stability.
In the U.S., banks cut trading securities to less than 15 percent of total earning assets last year, from more than 20 percent in 2008, according to the BIS report. The proportion fell to less than 12 percent at European lenders.
Bond funds, including mutual funds, which are forced to sell when investors redeem cash, have received $3 trillion of inflows globally since 2009, and their total net assets reached $7.4 trillion in April, according to the BIS report.
Asset managers “have little incentive to increase their liquidity buffers during good times to better reflect the liquidity risks of their bond holdings,” said the BIS. “Precisely when order imbalances develop, asset managers may face redemptions.”
Investors are also looking to exchange-traded funds as sources of liquidity, even though regulators have questioned how easily the products could honor obligations during large withdrawals.
Securities are changing hands less frequently, even as the amount of outstanding bonds sold by non-financial companies globally has increased to about $10 trillion from less than $6 trillion in 2007, the BIS said earlier this year in its Quarterly Review. The proportion of securities that trade regularly in the U.S. fell to less than 5 percent from 20 percent in the period, according to the report.
Glad I got that before they took the article down! I get a 404 message when I click on the link now.
MY LADIES: BANKS ARE WELL AWARE OF WHAT'S ON THE HORIZON
NOVA AND FARHAD HAS A CONVERSATION LAST NIGHT ABOUT THIS VERY THING ON THE CALL
THAT'S A BIG DROP, AND A BIG SIGNAL.
PrincessDD: I guess everyone is in damage control mode this morning…
PrincessDD: U.S. market reaction to Greek crisis is critical http://americasmarkets.usatoday.com/2015/06/29/u-s-reaction-to-greece-crisis-is-critical/
MY LADIES: Bunds Surge Most Since 2012 as Greek Crisis Escalates http://www.bloomberg.com/news/articles/2015-06-29/german-bonds-set-to-surge-at-open-as-greek-debt-crisis-escalates
AND IT'S STARTING
German government bonds climbed the most since August 2012 after a weekend of turmoil which saw Greece’s Prime Minister Alexis Tsipras announce a referendum on the nation’s bailout, raising the risk of an exit from the euro.
The market is risk averse as people are reacting to decisions by Greece including capital controls, and a call for a referendum,” said Lyn Graham-Taylor, a rates strategist at Rabobank International in London.
“But we still feel there will be some retracement during the course of the morning.
At one point the market will realize Greece hasn’t left and there are likely to be moves to keep it in the euro monetary union.”
MY LADIES: I AM NOT AGREEING TO MUCH WIH THIS, I THINK GREECE IS BEYOND THAT NOW, AND ANYWAY EVEN DEBT RELEIF IS DEFAULT...
German 10-year bund yields fell 14 basis points, or 0.14 percentage point, to 0.78 percent as of 12:11 p.m. London time.
The 0.5 percent securities due in February 2025 climbed 1.255, or 12.55 euros per 1,000-euro ($1,108) face amount, to 97.38. The yield earlier slid as much as 22 basis points to 0.71 percent, the lowest since June 3.
Spain’s 10-year bond yield jumped 17 basis points to 2.28 percent, set for the biggest increase since May 5.
The yield on Italian 10-year bonds climbed 18 basis points to 2.33 percent, having earlier surged as much as 57 basis points.
The yield on Greek 10-year bonds increased 379 basis points to 14.64 percent, the highest since December 2012. That compares with 44.21 percent in March 2012, the month that the nation’s debt was restructured.
SO FAR THE HOUSE IS NOT ON FIRE.
PrincessDD: Global Stocks Plunge As Greek Crisis Rocks Markets http://www.nbcnews.com/business/economy/global-stocks-plunge-greek-crisis-rocks-markets-n383666
Chatter: http://www.cnbc.com/id/102790605 Europe News.....Greek banks to reopen on Thursday, earlier than originally planned: Official
Chatter: Dow dips 150 points on Greece; financials lag
MY LADIES: 150 IS NOTHING. I AM AMAZED AT HOW MUCH THERE PLAYING THIS DOWN ON THIS SIDE OF THE POND!!
PrincessDD: Hey Nova you think they will reopen with drachma on Thursday?
MY LADIES: NO..I DON'T THINK SO...AND I'M STILL NOT SEEING ANYTHING OFFICIAL FROM THE BANK OF GREECE ON AN OPENING THURSDAY.
Chatter: CNBC LIVE JUST SAID BANKS OPEN THURSDAY TO PAY THE PENSIONERS http://www.cnbc.com/id/102790605
Greece Will Open 700 Bank Branches On Thursday - For Limited Pension Withdrawals Onlyhttp://www.zerohedge.com/news/2015-06-29/greece-will-open-700-bank-branches-thursday-limited-pension-withdrawals-only
MY LADIES: OK THANK YOU, I POSTED THIS MORNING THAT THE AVERAGE GREEK PENSIONER DOES NOT HAVE AN ATM CARD, THEY TAKE THEIR PENSIONS IN CASH FROM THE TELLERS EACH MONTH
THE GOVERNEMENT PROMISED TO ANNOUNCE THIS AFTERNOON HOW THEY WILL GET THEIR PENSIONS.
THIS IS THE SOLUTION, BUT ALL BANKS OUT SIDE PENSIONERS WILL REMAIN CLOSED UNTIL JULY 7TH
MY LADIES: Fed's worst nightmare: The 'ghost of 1937'
In trying to steer the economy of 2015, the Federal Reserve is fighting the foreboding spirit of 1937.
Wall Street strategists, in fact, are worried that the U.S. central bank is so cautious over not making the mistakes of a long-ago ancestor that it may miss a solid opportunity to normalize monetary policy after seven years of decidedly abnormal times.
MY LADIES: SO NOW WE TAKE THE TIME TO READ WHAT MARTIN AMRSTRONG HAS TO SAY ABOUT THE GREEK TRADGEDY.
The Greek Tragedy Continues to Set the Tone = World In Review http://www.armstrongeconomics.com/archives/34108
MY LADIES: OK I'M BACK...I TOOK A LITTLE TOUR OF IRAN FOR A MIN AND RATTLED SOME THINGS AROUND WITH HERBERT AND NOVA...
SO HOW ARE OUR MARKETS LOOKING??? I THINK THEY WILL BE FINE FOR TODAY
Blessed153: Down 207 that's not too bad for this morning. We have seen worse in a day.
MY LADIES: SO I SAID IT ON THE CALL LAST NIGHT AND I'LL SAY IT AGAIN, I THINKS MOST BANKS SAW THIS ON THE HORIZON AND HAVE WORKED THE FALL OUT IN,
AND AS FOR THOSE THAT THINK A DEAL WILL BE REACHED I JUST SHAKE MY HEAD, BECAUSE EVEN AT THIS POINT A DEAL IS LESS THAN A BAND AID ON OPEN HEART SURGERY.
THE DAMAGE IS DONE AND OTHERS WILL LEAVE THE EURO AS GREECE WILL IN TIME IF NOT TOMORROW.
THE BAND AID IS JUST BEING PULLED OF YOUR CHEST ONE HAIR AT A TIME..
PrincessDD: I forgot to post the article that the Greek people are celebrating being free of austerity and the IMF and the euro zone
The Greeks Celebrating as the Economy Sinks
As Greece lurches towards economic meltdown, some have been celebrating - including members of the governing Syriza party. Bloomberg caught up with one leading left-wing politician cheering the referendum, and a possible 'Grexit'. http://www.bloomberg.com/news/videos/2015-06-29/the-greeks-celebrating-as-the-economy-sinks
MY LADIES: SO PRINCESS TODAY THERE ARE SMALL WRINKLES...BUT NOTHING MAJOR HAS HAPPENED YET EITHER, SO LET'S SEE IN A FEW HOURS WHEN DEFAULT ACTUALLY HAPPENS WHAT THINGS LOOK LIKE.
Bandito Rox: Greece Will Default To IMF Tomorrow, Government Official Says http://www.zerohedge.com/news/2015-06-29/greece-will-default-imf-tomorrow-government-official-says
IQD NOVA: CNBC JUST SAID THE WEST NEEDS TO HELP GREECE MOVE TO ITS OWN CURRENCY!!!!
WC: Hey ML, seriously, you really believe that these guys will leave the euro? What all three low feeders?
MY LADIES: I DO WC...IF NOT TODAY VERY SOON DOWN THE ROAD,… THE SYSTEM NEEDS TO RESTRUCTURE, THE BIS TOLD THIS TODAY ALSO...I POSTED 3 PIECES ON IT..THE EURO HAS BEEN EXPERIMENTAL FOR TOO LONG...THE EXPERIMENT FAILED...
THE OLD NEEDS A CRASH TEST DUMMIE INTO THE WATER AND GREECE FITS THAT BILL
HERE WC IN CASE YOU MISSED IT
The Greek Tragedy Continues to Set the Tone = World In Review http://www.armstrongeconomics.com/archives/34108