Quote Of The Week

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From the crew at jsmineset.com:

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…Beginning immediately it is important to understand any institution can seem healthy one day yet announce insolvency the following day. This is NO JOKE and I am not grandstanding. We just do not know who owns or is obligated to “what”. The financial markets and the individual players are so levered in various directions, volatility as we are now seeing can easily bankrupt the underfunded overnight. I believe this has already happened over the last few years but clandestine funding has kept it hidden. The recent volatility may have been too sharp, sudden or violent to keep the evil genie in the bottle, we will soon see.

I cannot stress how important it is now for you to be on guard for anything at any time. A market closure, though likely over a weekend can occur during ANY WEEKDAY! Do not allow yourself to be lulled to sleep by any rallies from here or stories of how “the storm has passed”. It is ONLY BEGINNING! Greece is absolutely nothing compared to what is to come. Even the Chinese market has entered bear market (-20%+) from just a month ago and the leverage in that market is huge with an unwinding due. Ultimately however, this will end up taking out most all of the major money center banks worldwide. To see London, Frankfurt, Washington D.C. and even Basel Switzerland buckle under the coming CDS/derivatives meltdown will not be a shock to me. As this progresses, it may take weeks or months to unfold but be aware 48 hours is truly all that’s needed…
***

Related.

As is this story.

Interesting times.

You’re living in them.

AIIBWSJ

16 responses to “Quote Of The Week

  1. Greece may be the first domino to fall, precipitating a general collapse of the global debt-Ponzi. But I hope/believe that the situation will be contained. It’s better for us/me if the Collapse occurs shortly after Mrs. Clinton’s inauguration and a further sharpening of domestic political tensions

  2. Pingback: Warning From Jim Sinclair | Cold Dead Hands Days

  3. Detroit the True 3%

    The EU git rid of the derivatives on Greece.

  4. its tues train:

    10 reps per exercise per circuit. 6 full circuits. no rest between anything. start w a weight level less than wat u think. if you are not shaking sweating and almost puking by circuit 5-6 you weight is to light.

  5. The real fun and the ‘nut’ of the financial takedown is when the counter party chits start being called in and someone like JP Morgan who never expected to have to pay out a counter party call find themselves hip deep in it. Pass the popcorn….

    • ….find themselves NECK DEEP in it.
      There. Fixed it for you. Pass the popcorn? We are going to need a lot more popcorn before this show is over!
      I’m hoping for more Wall St. jumpers and bankster “suicides” by nail gun.
      Jump you fuckers! All of you.
      Of course, if they don’t want to jump I am sure there will be enough lamp posts as an alternative.

      • Jumpers are much more satisfying, though lamp post decoration is more apt. I only say that for the fact that in ’29 it was usually their money that went down the tubes. But now days its OPM so why should they jump? But since that is OUR money, it is very appropriate they are strung up my a mob.

      • Defenestration…

  6. i slowly built up the cash, food and water to go 2 months to pay all bills and live; if it’s a real collapse, i think the unprepared will lose it and die off pretty fast. i built up the bullets to go a year.

    • Jimmy the Saint

      If there’s a collapse such that there’s a mass die-off, medicines will be more important the bullets. You can’t shoot cholera, typhus, and the like.

      Also, in the event of a real collapse, there won’t be much need to pay bills (being able to buy necessities on a going-forward basis is a different story). Most creditors will have bigger worries to deal with, and even ones that feel like going after you will be hard pressed to find courts willing to do much about it.

  7. Jimmy the Saint

    Good luck with that bank – at least half of the “investors” are so far past fucked that they couldn’t find their way back with a Sherpa guide. The sad fact is that nobody is doing very well right now.

  8. Alfred E. Neuman

    Reblogged this on The Lynler Report.

  9. Anyone notice that Iran put up 1.6 billion , as a member of the new Chinese bank? Kinda shoves all those sanctions up someones ass. We are in WWIII. Remember we have not declared war for a long,long time. ,According to the international standard, how many nations would consider themselves,in a state of war. I still think,the crazy nuclear, dick-wads in Iran,will upset the apple cart. Man,we live in a fucked up world. Maybe it has always been this way. We just never knew about it.