Hyper Report recommends the reading of Gregory Mannarino’s The Game is Rigged
Today’s Items:
First…
Money Flies Out of Spain
http://www.reuters.com
Like squirrels hiding their nuts, Spaniards are taking their money out of Spanish banks at an accelerating rate. In the last month alone, over $82 billion dollars worth has “vaporized” out of the region. Get ready for Capital controls, bank holidays, and other measures to stem the tide of withdrawals.
Next…
Why Switzerland is the New China
http://ftalphaville.ft.com
One would have thought that the Swiss were more sensible; however, they have made it abundantly clear that they will defend the 1.20 floor against the euro no matter what. Officials in Switzerland are thinking about capital controls and negative interest rates to achieve this. Of course, all this may be bluster to allow politicians to buy time to secure their own assets before it falls apart.
Next…
Bond Yields Continue to Hit Record Lows
http://www.cnbc.com
Investors, seeing the crisis of the euro, believe that U.S. Treasuries are a refuge. To that end, the demand has allowed the 10 year Treasury yield to fall below 1.58 percent. This, despite that U.S. jobless claims rising 383,000 in May. It will not be long before these suckers err… investors find out that they went from the frying pan directly into the fire with their wealth.
Next…
JPMorgan to Spin Out ‘Special Investments’
http://www.cnbc.com
JP Morgan is spinning out the “Special Investments group” as executives cover-up err… clean up the division that caused multi-billion dollar trading loss. This group will focus on basic asset-liability management. Asset-liability? You mean, like the silver in the SLV that does not exist?
Next…
Banks Pressured to Buy Government Debt
http://www.cnbc.com
You just can’t make this stuff up folks… US and European regulators are essentially forcing banks to buy up their own government’s debt. So, when governments are unable to make the bond payments, or force haircuts for lenders on those bonds, the banks will go under.
Next…
People Will Be Shocked at the Chaos Heading Our Way
http://kingworldnews.com
John Embry believes that many people are becoming aware that Europe is imploding and there are no solutions. What is going on right now is a rush to the supposed safe havens like US Treasuries. With that said, it will not be long before more massive quantitative easing takes place in the U.S. With the manipulation and rush into paper assets, gold and silver are at all time lows; thus, before the sling-shot upside occurs, make preparations and keep stacking.
Next…
Obama In Serious Trouble
http://theulstermanreport.com
Even though this insider claims he was not religious, he is now praying everyday for himself and the country because of Obama. In fact, this insider states that Obama is far worse than his critics believe and that he is a dangerous person. He claims that Obama takes great pleasure in drones killing people and that hes is a lazy slob of a president. Of course, Romney – being the flip side of Obama, is most likely just as bad. In short, the country is in the crapper and the paper is running low.
Finally, Please prepare now for the escalating economic and social unrest. Good Day
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