{"id":9256,"date":"2015-06-20T06:45:26","date_gmt":"2015-06-20T11:45:26","guid":{"rendered":"http:\/\/olduvai.ca\/?p=9256"},"modified":"2015-06-20T06:45:26","modified_gmt":"2015-06-20T11:45:26","slug":"signs-of-financial-turmoil-in-europe-china-and-the-united-states","status":"publish","type":"post","link":"https:\/\/olduvai.ca\/?p=9256","title":{"rendered":"Signs Of Financial Turmoil In Europe, China And The United States"},"content":{"rendered":"

Signs Of Financial Turmoil In Europe, China And The United States<\/a><\/h3>\n

As we move toward the second half of 2015, signs of financial turmoil are appearing all over the globe.\u00a0 In Greece, a full blown bank run is happening right now.\u00a0 Approximately 2 billion euros were pulled out of Greek banks in just the past three days, Barclays says that capital controls are \u201cimminent<\/a>\u201d unless a debt deal is struck, and there are reports that preparations are being made for a \u201cbank holiday<\/a>\u201d in Greece.\u00a0 Meanwhile, Chinese stocks are absolutely crashing.\u00a0 The Shanghai Composite Index was down more than 13 percent this week alone.\u00a0 That was the largest one week decline since the collapse of Lehman Brothers.\u00a0 In the U.S., stocks aren\u2019t crashing yet, but we just witnessed one of the largest one week outflows of capital from the bond markets that we have ever witnessed.\u00a0 Slowly but surely, we are starting to see the smart money head for the exits.\u00a0 As one Swedish fund manager put it recently, everyone wants \u201cto avoid being caught on the wrong side of markets once the herd realizes stocks are over-valued<\/a>\u201c.<\/p>\n

I don\u2019t think that most people understand how serious things have gotten already.\u00a0 In Greece, so much money has been pulled out of the banks that the European Central Bank admits that Greek banks\u00a0may not be able to open on Monday<\/a>\u2026<\/p>\n

The European Central Bank told a meeting of euro zone finance ministers on Thursday that it was not sure if Greek banks, which have been suffering large daily deposit outflows,\u00a0would be able to open on Monday<\/strong>, officials with knowledge of the talks said.<\/p>\n

Greek savers\u00a0have withdrawn about 2 billion euros from banks over the past three days<\/strong>, with outflows accelerating rapidly since talks between the government and its creditors collapsed at the weekend, banking sources told Reuters.<\/p><\/blockquote>\n

…click on the above link to read the rest of the article…<\/p>\n

 <\/p>\n

 <\/p>\n","protected":false},"excerpt":{"rendered":"

Signs Of Financial Turmoil In Europe, China And The United States As we move toward the second half of 2015, signs of financial turmoil are appearing all over the globe.\u00a0 In Greece, a full blown bank run is happening right now.\u00a0 Approximately 2 billion euros were pulled out of Greek banks in just the past […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[2],"tags":[1989,52,6224,2086,63,1838,1719,4791,110,130,6529,6530,195,6531,6532,6061,6533,6534,6535,1167,506,6536,6537,753,6538,6539,6540],"class_list":["post-9256","post","type-post","status-publish","format-standard","hentry","category-economics","tag-1989","tag-bank","tag-bank-holiday","tag-bank-run","tag-banks","tag-barclays","tag-bond","tag-bond-markets","tag-capital-controls","tag-china","tag-chinese","tag-chinese-stocks","tag-debt","tag-debt-deal","tag-euros","tag-financial","tag-financial-turmoil","tag-fund","tag-fund-manager","tag-greece","tag-markets","tag-second-half-of-2015","tag-shanghai-composite","tag-stocks","tag-swedish","tag-the-united-states","tag-u-s-stocks"],"_links":{"self":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/9256","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=9256"}],"version-history":[{"count":1,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/9256\/revisions"}],"predecessor-version":[{"id":9257,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/9256\/revisions\/9257"}],"wp:attachment":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=9256"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=9256"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=9256"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}