Reuters Reports Europe Considering Capital Controls, Limiting ATM Withdrawals

Well, this should calm European investors and markets.  And by calm, we mean incite a European wide bank run.
Reuters reports EU officials are discussing imposing capital controls and limiting ATM withdrawals if Greece exits the Eurozone.

  • EU SOURCES HAVE DISCUSSED IMPOSING CAPITAL CONTROLS AS WORST CASE SCENARIO IF GREECE LEAVES EUROZONE
  • IMPOSING BORDER CHECKS, LIMITING ATM WITHDRAWALS ALSO PART OF WORST-CASE SCENARIO PLANNING – EU SOURCES

It appears our friend Ned Naylor-Leyland was correct and that all the Spanish bailout has done is allow European officials to admit that we have a contagion.

Got PHYZZ??

Comments

  1. Coming soon—-to a theatre near YOU!

  2. “Whhattt???”

  3. In preparing for battle I have always found that plans are
    useless, but planning is indispensable.

    —Dwight D. Eisenhower

  4. This would be a lot easier to keep up with Doc if your newest posts were always at the top during the contest, but I’m on top of it. Just don’t slip a new one in today on page 2.

  5. It’s been hammered so many times here, but is proven right again and again, “if you don’t own it, you don’t hold it!”

  6. The Fate of Europe Could Hinge on the Success Or Failure Of The SYRIZA Party

    The syriza party offers to keep the “free stuff” coming. They want no bailouts and they advocate the return to the drachma.

    This Is A Link To A BBC Video Why They’re Turning To Syriza Party BBC VIDEO

    Alexis Tsipras, leader of Greece’s leftwing Syriza coalition, seized on news of the Spanish bailout to bolster his position ahead of next week’s crucial general election, which may determine whether the country stays in the euro.  “The developments in Spain confirm the position we adopted
    from the start – that the crisis is a pan-European problem, and the way
    it has been handled so far has been socially catastrophic and completely
    ineffectual,
    ” Mr Tsipras, who opposes the bailouts, told a newspaper. READ MORE

    Paragraph From The Article Linked In The Thread:

    “The discussions have taken place in conference calls over the past six
    weeks, as concerns have grown that a radical-left coalition, SYRIZA, may
    win the second election, increasing the risk that Greece could renege
    on its EU/IMF bailout and therefore move closer to abandoning the
    currency.”

    The June 17th elections could result in a Syriza Win. Bank rns will accelerate not just in Greece but in every country as this fear of euro collapse will spread. These capital controls will not do anything to calm fears. In fact they’ll INCREASE them.

    I think we might see some kind of heavy crisis trigger some time before June 17th that will send the Euro below 1.15, and the dollar index above 90. Gold and silver could result in a mixed bag with an initial knee-jerk down, but quick recovery back above where we are now in price.

    It’s possible The Ben Bernank is waiting for the result of these elections to implement QE3 or even some kind of crazy capital controls on the INCOMING cash from foreign sources. I don’t see any new articles relating to anyone trying to measure incoming capital into the USA, but we could see something similar to Swiss controls implemented recently.

    The week between June 13th (JPM testimony), June 17th Greek Elections and June 20th FOMC meeting will get very interesting. Make sure you have enough popcorn ready.  

     

  7. sounds like a Pre-Bank Holidays

  8. The Syriza Party Has Gained Support. This Is Not Surprising, The Greeks Have No Jobs, No Money. They Need Free Stuff To Survive.

    Greek Political Stalemate Holds Firm Before Fresh Polls

    June 11, 2012, 10:58 AM

    According to newspaper Proto Thema on Sunday, surveys conducted on
    behalf of parties last week but not published show New Democracy
    marginally leading Syriza with a difference of 2%-3%.
    Greek law forbids
    poll results from being made public in the 15 day period leading up to
    elections.

    Between 26% to 29.5% of those questioned said they intend to vote for
    the conservatives, the paper said, citing senior party officials, while
    25% to 27% said they would back Syriza. The results show growing
    support for the top two parties– New Democracy and Syriza– after each of
    them were backed by 19%  and 16.8% respectively in May’s elections. But
    they still lack enough support to form a government in the country’s
    300 seat Parliament. READ MORE

  9. Hard for me to understand why anyone in Europe has anything but phyzz.

  10. maybe they still believe in Queen and the Bank of London ???

  11. What do they expect when the country is going to collapse, Drasatic Cases takes Drastic Measures. The next measure will be, Everyone turn in their Gold and Silver

  12. ZH post just a short while ago noted that the ISDA won’t consider the ESM managed $125 billion in bankster bailout, forcing other debt into subordinated position,  a event that triggers CDS converage.  How luck can you get   Gee whiz JPM must be breathing a sign of relief  Just like Greece and their ‘haircut’ the CDS is not triggered.  Just what in  bloody hell will trigger a CDS coverage? 

    Nothing, not ever, not no way, not no how.  Very convenient for the banks holding the CDS paper as they get their 3 rating level downgrades  from Moodys  this week.  LOL

  13. maples and eagles are favourite but the koalas are great but very expensive..I think sometimes it will never rise in price again becauseof manipulation but there is not another option.. apart from bending over and taking it up the jaksy…

  14. I like “Coming soon…..to a theater near you.” A matter of time before things begin to tighten here. Stash the cash and stack the smack. By imposing those controls, and announcing before hand, the bank runs are a sure thing. Watch and see, watch and take note, watch and take action.

  15. When I was younger, we all played this fun game called “Kick the Can”… now why do I have an odd desire to watch the Twilight Zone with some Scatman Caruthers…?

  16. Good news for me! Will keep stackin’!

  17. If they were smart they’d max it out everyday and turn it into silver.

  18. I love the PTB in Europe  If their viewpoint does not meet the fact, they change the facts to meet their viewpoint.  The problem occurs when You are the part of the facts.

  19. Well golly gee smithers I can pull as many oz’s I want out of holding at a time anyday everyday… Translation for pilots of the short bus who may have had severe wax build up in your Mr. Potatohead ears everyday prior to this one… If you don’t hold it, you don’t own it!! STACK THE PHYZICAL BABY!!!! Stack it high, stack it wide, stack it right!!! But PLEASE just STACK IT!!!!!!!!!
    ok… Someone please turn this broken record over so it may hammer the message home again…
    STACK THE PHYZZZ!!!!!!! Paper burns… Your left with ashes… Metal gets hot and if your lucky it will change to the shape of a baby zebra with Jesus riding it… Then it will be worth more..hehe… Point is… AGAIN… Paper burns and is GONE…. Paper can be erased and rewritten… Paper is disposable, expendable, undependable…. Metals… Assets… They last… There REAL!!!!!!!! STACK THE GOODS!! Wipe with paper!!
    That is all…

  20. I don’t understand why it’s OK for this type of information to be published. All it can do is cause people to panic and that’s the last thing they want.

  21. The most entertaining thing in the world is people panicing and running around like chickens with their heads cut off.  Think Keystone cops,  Benny Hill,  the 3 Stooges, The Monkees, Woodstock.   A  Laugh a minute

    That is why we publish this sort of stuff on Silver Doctors.  Seeing people panicking.  LOL

  22. Most Americans are still in denial and believe that it can’t happen here…sad.

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