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Greece's haves and have-nots: While some Athenians queue at soup kitchens, others are hoarding cash in safety deposit boxes for the turbulent weeks ahead

Posted by George Freund on July 5, 2015 at 4:20 PM


Residents spent the week desperately queuing outside banks in an attempt to withdraw cash as the country slid further towards financial ruin


Greek voters told of their anxiety at the outcome of the crucial referendum

Queues continued at cash machines as workers withdrew 60 euro limit

Despite chaos tables at restu...

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Chinese Government "Losing Control": Stocks Are Collapsing, Hitting New Bear Market Lows

Posted by George Freund on July 4, 2015 at 8:40 AM



Submitted by Tyler Durden on 07/02/2015 22:02 -0400


As one local reporter put it, despite being told not to say anything negative, "the government appeared to have lost its ability to manage the market." Chinese stocks are down 4-5% at the open, pressing new cycle lows with Shenzhen and CHINEXT now down 25% from last week.


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Guess What Happened The Last Time The Chinese Stock Market Crashed Like This?

Posted by George Freund on July 4, 2015 at 8:35 AM

By Michael Snyder, on July 2nd, 2015



The second largest stock market in the entire world is collapsing right in front of our eyes. Since hitting a peak in June, the most important Chinese stock market index has plummeted by well over 20 percent, and more than 3 trillion dollars...

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Why The Puerto Rico Debt Crisis Is Such A Huge Threat To The U.S. Financial System

Posted by George Freund on July 4, 2015 at 8:35 AM

By Michael Snyder, on July 1st, 2015




Puerto Rico Map On A Globe - Photo by TUBSThe debt crisis in Puerto Rico could potentially cost financial institutions in the United States tens of billions of dollars in losses. This week, Puerto Rico Governor Alejandro Garcia Padilla publicly announced that Puerto Rico’s 73 billio...

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The 75 Trillion Dollar Shadow Banking System Is In Danger Of Collapsing

Posted by George Freund on July 4, 2015 at 8:25 AM

By Michael Snyder, on June 30th, 2015


 

Keep an eye on the shadow banking system – it is about to be shaken to the core. According to the Financial Stability Board, the size of the global shadow banking system has reached an astounding 75 trillion dollars. It has approximately tripled in size since 2002. In the U.S. alone, the s...

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Show us the money! Pensioners push each other out of the way to collect their cash as Greece finally caves in to creditors' demands... and immediately asks for a hand-out as well

Posted by George Freund on July 1, 2015 at 11:35 AM

Tragedy: Pensioners try to enter a bank in Athens this morning after roughly 1,000 branches around the country were ordered to reopen

  • Chaotic scenes outside Greek banks this morning as hundreds pushed and shoved in the hope of gaining entry
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The US & Europe Will Collapse Regardless Of Economic "Contagion"

Posted by George Freund on June 30, 2015 at 4:30 PM



Submitted by Brandon Smith via Alt-Market.com,

In order to understand what is really going on around the globe in terms of the collapsing economy, we must set aside false mainstream versions of reality. When it comes to the EU and its current fiscal turmoil, it is very important to, in some respects, ignore Greece entirely. That’s right; forget...

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Warren Buffett: Derivatives Are Still Weapons Of Mass Destruction And 'Are Likely To Cause Big Trouble'

Posted by George Freund on June 28, 2015 at 10:05 PM



By Michael Snyder, on June 22nd, 2015

 

After all these years, the most famous investor in the world still believes that derivatives are financial weapons of mass destruction. And you know what? He is exactly right. The next great global financial collapse that so many are ...

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The Economic Collapse Blog Has Issued A RED ALERT For The Last Six Months Of 2015

Posted by George Freund on June 28, 2015 at 9:15 AM


by Michael Snyder June 25, 2015

 

I have never done anything like this before. Ever since I started The Economic Collapse Blog in late 2009, I have never issued any kind of “red alert” for any specific period of time. As an attorney, I was trained to be level-headed and to only come to conclusions that were warranted by the ...

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China shares tank ending nation's longest-ever bull market

Posted by George Freund on June 26, 2015 at 11:20 AM

Shanghai Composite Index heading for its biggest loss in eight years after falling nearly 8pc in one day


A Chinese man walks past a billboard showing collage of Chinese Yuan and US dollars in Bei...
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