Over the last two trading days, European banks have lost 23 percent of their value.  Let that number sink it for a bit.  In just a two day stretch, nearly a quarter of the value of all European banks has been wiped out.
Any doubt that we have entered a new global financial crisis has now been completely eliminated

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dynamiteBLOODBATH Coming Monday?
With Markets in Chaos in the Wake of the BREXIT Vote, Including Historic Moves in Currencies, Stocks, and Gold Prices, Jim Willie Joined Us For Exclusive Coverage, and Issued an URGENT WARNING On Interest Rate Derivatives:
BREXIT Could DETONATE Deutsche Bank!

summerThe entire precious-metals complex has enjoyed record early-summer strength (even prior to Friday’s HUGE BREXIT move).  The summer doldrums have always been a vexing time for gold, silver, and the stocks of their miners.  Without any recurring seasonal demand surges in June and July, sideways-to-lower drifts are common in this seasonally-weakest time before big autumn rallies.
Will This Summer Be Different?

Problem: No less than 8 nations are now lining up their own referendums to exit the EU
Solution: Simply pass a law prohibiting any leave referendums, and while we’re at it, do away with all individual member states sovereignty as well. 

GreenspanThe game is over. Blame it on Brexit!
Oh, they know what’s coming. The fake prognostications are underway. The take-down of Europe has begun and the insiders are beginning to blame Brexit. Just As Planned…

gold feverBo Polny predicts that people will catch what he calls gold fever.” Polny explains, The moment gold goes vertical, people are going to realize gold is money. Well, yeah, but actually it is insurance against paper money. When paper money fails, then your insurance policy pays out with money, gold money. So, it’s just that simple. . . . Gold is only an asset and insurance policy if you are holding it.”

fedIf we went back on the gold standard and adhered to the actual structure of the gold standardas it was before 1913we’d be fine, he said. I’m known as a gold bug and everyone laughs at me,  “why do central banks continue to own gold” if it isn’t important?

margin explosionWe started off with the flushing of Lehman, and we just saw the flushing of a country, and the flushing of the sovereign bond bubbles.  All tops come on rhino horns.   The moves to safety that took place on Friday are the type of moves that cap, end, and terminate bubbles. 
What’s about to come is exactly what we’ve been warning people about.  Monday morning is GLOBAL MARGIN CALL TIME…

collapse bail inFriday, Jim Willie warned SD that BREXIT Could Detonate Deutsche Bank.
With Deutsche Bank  plunging to all-time lows today ($13.64) and headed towards oblivion, we thought it apropos to revisit Willie’s dire warning that if Deutsche Bank goes down, it will be Lehman TIMES FIVE:

A bank failure contagion, that’s whats going to push the price of gold WAY over $2,000/oz again.
The Price of Silver is going to be moving over $100 and the price of gold is going over $5,000…
A failure of Deutsche Bank would trigger a systemic banking contagion the likes of which the Western world has never seen…