European Banks Have Their Worst Two Day Stretch EVER As The Global Financial Crisis IntensifiesBy Michael Snyder But of course the biggest news on Monday was what happened to European banks. The Brexit vote has caused financial carnage for those institutions unlike anything that we have ever seen before. Just check out this chart from Zero Hedge I knew that things would be bad if the UK voted to leave the European Union, but I didnt know that they would be this bad. Prior to all of this, a whole bunch of too big to fail banks all over Europe were already in the process of imploding, and now this chaotic financial environment may push several of them into full-blown collapse mode simultaneously. Just consider the following commentaryfrom Wolf Richter These bank stocks got crushed on Friday. And they got crushed again today. Italian banks have been reduced to penny stocks. Spanish banks are getting closer. Commerzbank, Germanys second largest bank, and still partially owned by the German government as a consequence of the last bailout, is well on the way. One institution that I have been warning about for months is German banking giant Deutsche Bank. On Monday, their stock fell another 5.77 percent to a fresh all-time closing low of 13.87. I have been convinced that Deutsche Bank is going to zero for a long time, but these days it seems in quite a hurry to get there. Of course Deutsche Bank is far from alone. The following are other too big to fail European banks that have lost at least one-fifth of their value over the past two trading days This is what a full-blown financial crisis looks like, and U.S. bankshave been getting hit very hard, too The Brexit contagion is spreading as USD liquidity and counterparty risk in the interconnected global financial system has reached US banks with Goldman at 3 year lows and BofA and Citi plunging over 12%. This happens just two days after the Fed released its latest stress test results finding that none of the 33 banks tested would need additional capital in case of a severe financial crisis. That conclusion may be tested soon. Meanwhile, the British pound continues to get absolutely pummeled. As I write this, the GBP/USD is down to 1.32, and some are now warning that the British pound may hit parity with the U.S. dollar by the end of the year. One of the reasons why I expect the British pound to continue to tumble is because the global elite have to show the British people that they made the wrong decision, and they need to scare off any other countries that would consider holding similar votes. So it was no surprise that the elite had two of their major credit rating agenciesdowngrade the UK on Monday Two major rating agencies downgraded the United Kingdoms credit rating on Monday. SP Global Ratings lowered the UK to AA from AAA, with a negative outlook. And, Fitch cut its rating to AA from AA+, with a negative outlook as well. And as I mentioned yesterday,Bank of America and Goldman Sachs have already projected that the UK economy is heading into recession. As much economic and financial pain as possible will be inflicted upon the British people, and meanwhile they will be bombarded by mainstream news stories telling them that they made a stupid decision. Hopefully the British people will stand strong and will not give in to the pressure. But of course it isnt just the British people that will be feeling the pain. The Brexit vote has sent shockwaves all over the planet, and global investors are losing tremendous amounts of money. For instance, here in the United States approximately 1.3 trillion dollars of stock market wealth has been wiped out so far Brexit isnt just a European problem after all. The United Kingdoms decision to quit the European Union is costing U.S. investors a pretty penny. U.S.-based companies in the broad Russell 3000, including online advertising company Alphabet (GOOGL), software maker Microsoft (MSFT) and global bank JPMorgan Chase (JPM), have suffered a collective loss of $1.3 trillion since Fridays shocker from the United Kingdom, according to a USA TODAY analysis of data from SP Global Market Intelligence. Hopefully tomorrow will be better. It is very rare for global financial markets to crash for three days in a row, but it could happen. More likely, however, is that we will see some kind of temporary bounce as long as some really negative event doesnt hit the news. But let there be no doubt about what has just happened. The collapse of Lehman Brothers was the trigger event that really accelerated the crisis of 2008, and now it appears as though the Brexit vote will be the trigger event that greatly accelerates the crisis of 2016. Global investors had already lost trillions over the past 12 months, and a full-blown financial implosion was going to happen no matter how the vote turned out, but thanks to British voters the fun and games have arrived early. Unfortunately, only a very small fraction of the population understands just how bad things are going to get in the months ahead Michael Snyder is a writer, speaker and activist who writes and edits his own blogs The American Dream and Economic Collapse Blog. Follow him on Twitter here. The finacial markets are taking a hit along with the zentral (zionists controlled) banks. The entire fractal zentral banking system the world over collapses. Start a more humane money system without usury. Along with the collapse a thousand years of peace. 