EURO CARSH THIS WEEK? Euro money markets funds (137 billion euros market) in full PANIC mode! SPAIN BONDS IN FULL ATTACK 7% NOW; Euro CRASH Keeping Precious Metals In Line; FRENCH YIELDS turn negatives in Europe! Yields On Swiss 2-Year just turned negative yesterday! ERUO below 1.22!

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BIG BANKS LEAVING EURO MONEY MARKETS FUNDS:
http://online.wsj.com/article/BT-CO-20120706-710595.html

Finland threating to leave the euro:
http://www.telegraph.co.uk/finance/financialcrisis/9380851/Finland-could-leave-the-eurozone-rather-than-pay-other-nations-debts-says-Jutta-Urpilainen.html

euro chart is a disaster:

http://finviz.com/futures_charts.ashx?t=6E&p=w1

SPAIN BONDS IN FULL ATTACK

Even… DANIEL ESTULIN SAYING THAT Bilderbergs are going to crash the euro and Spain will be sacrificed.

Lindsey williams said that the euro will crash first and then the dollar in 2012.

are we seeing all this together?

I believe euro may go in full CARSH mode netx week.
Chart is pointing to euro in 1,20. This may keep precious metals in line for a while.

Stay alert!

 

http://www.silvertardsweride.com/2012/07/euro-crash-keeping-gold-and-silver-in.html

They are crashing the euro. And I expect crash will continue.
Big banks leaving euro money markets funds ( 137 billion euros market)

Euro money markets funds in full panic mode:

J.P. Morgan Chase & Co. (JPM), Goldman Sachs Group Inc. (GS) and BlackRock Inc. (BLK) are closing several European money-market funds to new investment after the European Central Bank slashed deposit rates to zero. 


Of the total $137 billion in euro-denominated money market funds, J.P. Morgan manages about $30 billion, BlackRock manages about $23 billion and Goldman Sachs manages about $13 billion, according to Peter Crane, president of Crane Data.

Goldman Sachs Asset Management isn’t accepting subscriptions in its GS Euro Government Liquidity Reserves Fund effective immediately, but redemptions aren’t affected. A second euro fund, the GS Euro Liquid Reserves Fund, wasn’t closed to investors.

http://online.wsj.com/article/BT-CO-20120706-710595.html

 

CRASH mode next week for the euro?

Finland threating to leave the euro:

“Finland is committed to being a member of the eurozone, and we think that the euro is useful for Finland,” Ms Urpilainen told financial dailyKauppalehti, adding though that “Finland will not hang itself to the euro at any cost and we are prepared for all scenarios”.

The finance minister stressed that Finland, one of only a few EU countries to still enjoy a triple-A credit rating, would not agree to an integration model in which countries were collectively responsible for member states’ debts and risks.

She also insisted that a proposed banking union would not work if it were based on joint liability.

http://www.telegraph.co.uk/finance/financialcrisis/9380851/Finland-could-leave-the-eurozone-rather-than-pay-other-nations-debts-says-Jutta-Urpilainen.html

Euro chart is a disaster:

http://finviz.com/futures_charts.ashx?t=6E&p=w1

 

SPAIN BONDS IN FULL ATTACK

Even… DANIEL ESTULIN SAYING THAT Bilderbergs are going to crash the euro and Spain will be sacrificed:

http://www.danielestulin.com/bilderberg-reportinforme-2012/

 

So much for the “breakthrough” European leaders negotiated at the EU summit last week as the European Debt Crisis continues to linger. Yields increased yet again for the peripherals. The yield on Spanish 10-Year notes spiked higher by 36 basis points to 6.77% while Italy’s longer maturity benchmark note is back up to 5.96%, a jump of 19 basis points (see figure 1).

The Euro was down a whopping 1.1% against the U.S. dollar and finished trading at 1.2391 after the Central Bank cut rates to 0.75 on concerns of recessionary pressures for the region.

U.S. Stocks continue to live in a vacuum as prices were down only slightly. The S&P 500 lost 0.5% from Tuesday’s close to 1,367.68.

http://pragcap.com/euro-crisis-far-from-over-as-spain-and-italy-bond-yields-spike

Update (July 9th): FRANCE SELLS BONDS AT NEGATIVE INTEREST RATE

France sells 3+6 month bills at negative yield for 1st time: 3-month yield -0.005% vs 0.048% on July 2, 6-month yield at -0.006% vs 0.096%

PARIS (AP) — France’s government has sold short-term bonds at negative interest rates for the first time, a sign of investor confidence despite concerns about French debts and the wider eurozone.

http://hosted.ap.org/dynamic/stories/E/EU_FRANCE_FINANCIAL_CRISIS

http://online.wsj.com/article/SB10001424052702303343404577516602196927274.html?mod=googlenews_wsj

Yields On Swiss 2-Year turned negative yesterday, -0.36000

http://www.bloomberg.com/quote/GSWISS02:IND

– Strongman Shelford

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