I
am not sure exactly what I was expecting from a Marxist-Leninist
political revolutionary in Athens but George Stathakis did not
disappoint.
By Louise Armitstead,
I found him on the seventh floor of a boiling hot, unmarked government
building, drawing heavily on a cigarette and watching the preparations
for the next rally in Syntagma Square.“I am a radical economist and a hippie,” he told me, in an appropriately deep, gravelly voice. By the end of tomorrow, he could also be Greece’s new finance minister and hold the future of the euro project in his hands. Stathakis, an economics professor and a Syriza MP, is one of the brains behind Syriza, Greece’s leftist party whose dramatic ascendancy has horrified Brussels, Berlin and beyond.
If the party wins the Greek election tomorrow – it’s neck-and-neck in the polls with the mainstream New Democracy party – it will form the eurozone’s only radically left-wing government. Syriza’s first intention is to overthrow the tyranny of Brussels and Europe’s tsarina, Angela Merkel, not by the sword but by something even more painful – by ripping up Greece’s €130bn (£105bn) bailout agreement.
“There are parts of the [bailout] memorandum we don’t like,” shrugged Stathakis, who is surprisingly relaxed about the idea of discarding an agreement that provides Greece’s financial life-support. Germany has warned that if Greece breaks the agreements, it will forfeit the bailout funds and be forced out of the euro.
Read More @ Telegraph.co.uk
from laroucheyouth:
These remarks were excerpted from a discussion Lyndon LaRouche held with associates on Saturday June 16th. It contains his current strategic assessment of the complete breakdown of the Trans-Atlantic financial system.
As Greek Banks Run Out Of Safe Deposit Boxes, An Eerie Calm Takes Over The Country 24 Hours Before D-Day
These remarks were excerpted from a discussion Lyndon LaRouche held with associates on Saturday June 16th. It contains his current strategic assessment of the complete breakdown of the Trans-Atlantic financial system.
As Greek Banks Run Out Of Safe Deposit Boxes, An Eerie Calm Takes Over The Country 24 Hours Before D-Day
The most ironic moment in the Greek denouement will come when fractional reserve lending collapses onto itself:"Stavropoulos and her friends have a new strategy to deal with their daily expenses. "We charge everything to our credit cards," she says. If the Greek banks fail, they won't be able to collect the outstanding debts, she argues. "If they want to mess me around, I will do the same to them."
In other words, Greece is now America, where the vast majority of people also live on credit alone, and have taken up the following motto when dealing with banks: "you pretend to be solvent, we pretend to have money." At the end of the day, it is all just one big global monetary circle jerk, only this time in reverse, as the snake of fractional reserve banking has finally started to eat its own tail. With people spending money they don't have, and in debt to their eyeballs to a banking system that itself is just as insolvent, is there any wonder that nobody really panics any more over daily threats the grand reset is finally coming?
from RT:
On Sunday Greece will have to go through its second parliamentary
election in two months. The radical left-wing party Syriza, the
conservatives New Democracy and the socialists PASOK will compete for
votes to form the government.On May 6, New Democracy received 19.18% of the vote, with Pasok getting 13.63%. The surprise package turned out to be Syriza, who came second with 16.3%. None of them managed to form a coalition government. The law decreed a second election was needed.
This time Syriza stands a good chance of forming the cabinet as its popularity is on a high due to its populist standpoint on austerity measures. Syriza is vehemently against low wages and pensions, and opposes the reduction of social benefits and subsidies.
This position makes the coalition incredibly popular. In Q1 of 2012, the unemployment rate in Greece reached 22.6%. In comparison, in December 2011 the figure was 20.7%. However, giving up the austerity measures will be opposed by creditors. The latter do have reason to be nervous as the Greek debt hits €155 billion.
Read More @ RT.com
Greek Election Cheat Sheet
All you need to know about tomorrow's prime time event.Greece — What Matters And What Does Not
So the Greek elections come and go and someone takes over or there is no government and new elections are called. In the meantime either Europe hands Greece more money or Greece defaults. It is at the point of default where consequences require central bank action and where even the best made plans may careen out of control because so much information has been hidden and not accounted for so that their consequences were not considered. Dealing with incorrect facts leads to incorrect conclusions and this is my greatest fear at present for all of the financial markets; that the pending default, it will most likely come, will not have been assessed in the manner that was needed because Europe did not allow all of the necessary data to be correctly appreciated.
from Zero Hedge:
New Democracy. Syriza. Doesn’t matter. According to Citi’s senior political analyst Tina Fordham, chief economist Willem Buiter, and global economist Ebrahim Rahbari, “any new Greek government, regardless of its composition, will struggle with implementation challenges related to the imposition of further austerity measures demanded by the Troika in exchange for further assistance,” and as a result, they “consider it likely that a new troika deal would ultimately fall apart and lead to Grexit.”
Citi notes that there is growing sense among European leaders that “promotion of economic growth can no longer be subordinated completely, even in fiscally unsustainable euro area member states, to the requirements of fiscal austerity,” but no one has any idea what that means.
This seems to be the current thinking, according to Citi:
Read More @ Zero Hedge.com
New Democracy. Syriza. Doesn’t matter. According to Citi’s senior political analyst Tina Fordham, chief economist Willem Buiter, and global economist Ebrahim Rahbari, “any new Greek government, regardless of its composition, will struggle with implementation challenges related to the imposition of further austerity measures demanded by the Troika in exchange for further assistance,” and as a result, they “consider it likely that a new troika deal would ultimately fall apart and lead to Grexit.”
Citi notes that there is growing sense among European leaders that “promotion of economic growth can no longer be subordinated completely, even in fiscally unsustainable euro area member states, to the requirements of fiscal austerity,” but no one has any idea what that means.
This seems to be the current thinking, according to Citi:
Read More @ Zero Hedge.com
by John Butler, Financial Sense:
For the third time since 2008, financial markets are pricing in a
deflationary rather than inflationary future. The reasons for this are
understandable. There is now strong evidence that global economic
activity is slowing. The euro-area banking and sovereign debt crisis is
worsening. The US is heading towards a so-called ‘fiscal cliff’ in 2013,
implying a recession. And all this is occurring without global GDP
having surpassed its pre-2008 peak. Notwithstanding multiple rounds of
massive, Keynesian-inspired, theoretically inflationary stimulus,
deflationary pressures are building anew. Does this imply that we face a
deflationary future? To answer that question, we must study carefully
what happened in 2008-09. When the deflationary push came, policymakers
responded with an even larger unconventional inflationary shove.
Deflationists beware: There is clear evidence that, under an elastic,
fiat currency regime, the deflation endgame is, paradoxically,
inflationary.
Read More @ FinancialSense.com
For the third time since 2008, financial markets are pricing in a
deflationary rather than inflationary future. The reasons for this are
understandable. There is now strong evidence that global economic
activity is slowing. The euro-area banking and sovereign debt crisis is
worsening. The US is heading towards a so-called ‘fiscal cliff’ in 2013,
implying a recession. And all this is occurring without global GDP
having surpassed its pre-2008 peak. Notwithstanding multiple rounds of
massive, Keynesian-inspired, theoretically inflationary stimulus,
deflationary pressures are building anew. Does this imply that we face a
deflationary future? To answer that question, we must study carefully
what happened in 2008-09. When the deflationary push came, policymakers
responded with an even larger unconventional inflationary shove.
Deflationists beware: There is clear evidence that, under an elastic,
fiat currency regime, the deflation endgame is, paradoxically,
inflationary.Read More @ FinancialSense.com
“We should save our effort for a second revolution.” – Saeed, a butcher in Cairo on today’s Presidential Elections
from John Galt FLA:
Stability? Peace? An Arab Spring which Conservative commentator Bill
Kristol and President Obama agreed on being in the best interest of the
region and people of Egypt? It would not be so laughable if it were not
for the rapes, murder, torture, religious persecution, and cruelty being
inflicted on the citizens of Egypt at the hands of a corrupt military
bureaucracy. The quote at the top of this page is from the following
article from the newspaper Al-Masyr Al-Youm, aka, The Egypt Independent:
Many Egyptians skip the polls, out of hopelessness or protest
The world media is reporting a large turnout but doing so by using propaganda by selected parties and the military to ensure a favorable review of the probably rigged outcome. If one bypasses the mainstream reports and listens to the people of the street, then the following excerpt from the story above tells the grim reality of what the average man in Cairo feels:
Read More @ JohnGaltFLA.com
from John Galt FLA:
Stability? Peace? An Arab Spring which Conservative commentator Bill
Kristol and President Obama agreed on being in the best interest of the
region and people of Egypt? It would not be so laughable if it were not
for the rapes, murder, torture, religious persecution, and cruelty being
inflicted on the citizens of Egypt at the hands of a corrupt military
bureaucracy. The quote at the top of this page is from the following
article from the newspaper Al-Masyr Al-Youm, aka, The Egypt Independent:Many Egyptians skip the polls, out of hopelessness or protest
The world media is reporting a large turnout but doing so by using propaganda by selected parties and the military to ensure a favorable review of the probably rigged outcome. If one bypasses the mainstream reports and listens to the people of the street, then the following excerpt from the story above tells the grim reality of what the average man in Cairo feels:
Read More @ JohnGaltFLA.com
by Raven Clabough, The New American:
When then-Senator Barack Obama was running for President in 2008, he
campaigned heartily against the Iraq War and torture. Just four years
later, that same man has insisted on approving every new name that is
added to the “kill list.” In fact, Obama has utilized covert
drone strikes five times more than former President Bush did. And while
the use of drones has become a major component in the so-called “war on
terror,” not every member of Congress is on board with the
administration’s use of these aerial assault vehicles. Democratic
Representative Dennis Kucinich (pictured, right of drone), along with 25
other members of Congress, recently submitted a critical letter to the
White House demanding information on the use of drones.
The letter, signed by 24 Democrats and 2 Republicans — including GOP presidential candidate Ron Paul (pictured, left of drone) — demands information on the authorization and use of drone strikes used by the CIA and Joint Special Operations Command. It asks about the “nature of the follow-up that is conducted when civilians are killed or injured … and the mechanisms that ensure civilian casualty numbers are collected, tracked and analyzed.”
Read More @ TheNewAmerican.com
Jim Sinclair’s Commentary
United Nations Observers Suspend Mission in Syria, Citing Escalating Violence By DAVID D. KIRKPATRICK and DAVID E. SANGER
Published: June 16, 2012
CAIRO — The United Nations said Saturday that it was suspending its observer mission in Syria because of the escalating violence, the most severe blow yet to months of international efforts to negotiate a peace plan and prevent Syria’s descent into civil war.
The United Nations said the monitors would not be withdrawn from Syria, but were being locked down in Syria’s most contested cities, unable to conduct patrols. While the decision to suspend their work was made chiefly to protect the unarmed monitors, the unstated purpose appeared to be to force Russia to intervene to assure that the observers are not the targets of Syrian forces or their sympathizers. Russia has opposed Western intervention and, by some accounts, continues to arm the forces of President Bashar al-Assad.
For President Obama, the suspension of the observers’ activities — unless it is reversed quickly — could signal the failure of the latest effort by the West to reach a diplomatic solution and ease Mr. Assad from power.
But Mr. Obama’s choices are no better than they were when the uprising in Syria began nearly a year and a half ago. A bombing campaign like the one conducted last year by NATO in Libya with strong American and Arab League support is not feasible in Syria: the battle is being waged in crowded cities, with little chance to attack the Syrian Army without the risk of high civilian casualties.
More…
Jim Sinclair’s Commentary
Heir to Saudi throne Crown Prince Nayef dies Angus McDowall
Published Saturday, Jun. 16 2012, 9:33 AM EDT
Saudi Arabia’s Crown Prince Nayef bin Abdulaziz al-Saud, next in line to rule the world’s top oil exporter, has died just eight months after becoming heir to 89-year-old King Abdullah, the royal court said on Saturday.
Analysts and former diplomats said the succession process was likely to be stable, however, with the king and a family council expected to start work on the appointment of a new crown prince, who would probably be another brother of King Abdullah.
“With deep sorrow and grief… King Abdullah mourns his brother… Crown Prince Nayef who passed to the mercy of God on Saturday outside the kingdom,” said a royal court statement carried by state media.
State TV said Prince Nayef had died in Geneva where he had been receiving medical treatment for an unknown problem. He was thought to be 78.
His death was not expected to trigger any major changes to the kingdom’s energy policy or to key relationships with the United States and other allies.
“The fundamental principle that the Saudis operate under is stability. So they will I’m sure develop a consensus among the senior members of the family over an orderly succession. That has likely been forming in recent months in any event,” said Robert Jordan, U.S. ambassador to Riyadh from 2001-03.
More…
Jim,
Following your call to action, the following is the content of my email to the SEC:
"Moments after the New York market closed Friday, June 15, 2012, there was a major carpet bombing of various gold mining shares. I listed NGD above as an example of a company I own. Look at the chart. Straight down on virtually no volume immediately after the market closed. 4% down in seconds. Apparently, this tactic was spread across the gold mining shares generally.
When, pray tell, will the SEC take action against these blatant crooks utilizing naked short selling on low volume to manipulate the market price? I’m not counting on it during my lifetime."
If this were against GS or JPM, no doubt the SEC would have the cavalry after them.
CIGA Doug
David,
Dear CIGAs,
Hi Jim,
Looking at quite a few issues this afternoon, this same phenomenon occurred with huge volumes right at the close or even trading after the close. THIS is the biggest, most blatant and in your face manipulation since this whole fiasco started. I entered the PM arena in 1998 and thought that I had seen it all. Apparently not! Of course, we will not hear anything from the regulators but we must yell louder and louder. To suffer in silence is madness and cowardly.
CIGA Bill
Dear Bill,
Dear Friends,
Please complain about the blatant manipulation of your company today to the following:
SEC – http://www.sec.gov/complaint/select.shtml
Amex – http://usequities.nyx.com/customer-support
When then-Senator Barack Obama was running for President in 2008, he
campaigned heartily against the Iraq War and torture. Just four years
later, that same man has insisted on approving every new name that is
added to the “kill list.” In fact, Obama has utilized covert
drone strikes five times more than former President Bush did. And while
the use of drones has become a major component in the so-called “war on
terror,” not every member of Congress is on board with the
administration’s use of these aerial assault vehicles. Democratic
Representative Dennis Kucinich (pictured, right of drone), along with 25
other members of Congress, recently submitted a critical letter to the
White House demanding information on the use of drones.The letter, signed by 24 Democrats and 2 Republicans — including GOP presidential candidate Ron Paul (pictured, left of drone) — demands information on the authorization and use of drone strikes used by the CIA and Joint Special Operations Command. It asks about the “nature of the follow-up that is conducted when civilians are killed or injured … and the mechanisms that ensure civilian casualty numbers are collected, tracked and analyzed.”
Read More @ TheNewAmerican.com
Jim Sinclair’s Commentary
The West wants to bomb Syria so bad.
United Nations Observers Suspend Mission in Syria, Citing Escalating Violence By DAVID D. KIRKPATRICK and DAVID E. SANGER
Published: June 16, 2012
CAIRO — The United Nations said Saturday that it was suspending its observer mission in Syria because of the escalating violence, the most severe blow yet to months of international efforts to negotiate a peace plan and prevent Syria’s descent into civil war.
The United Nations said the monitors would not be withdrawn from Syria, but were being locked down in Syria’s most contested cities, unable to conduct patrols. While the decision to suspend their work was made chiefly to protect the unarmed monitors, the unstated purpose appeared to be to force Russia to intervene to assure that the observers are not the targets of Syrian forces or their sympathizers. Russia has opposed Western intervention and, by some accounts, continues to arm the forces of President Bashar al-Assad.
For President Obama, the suspension of the observers’ activities — unless it is reversed quickly — could signal the failure of the latest effort by the West to reach a diplomatic solution and ease Mr. Assad from power.
But Mr. Obama’s choices are no better than they were when the uprising in Syria began nearly a year and a half ago. A bombing campaign like the one conducted last year by NATO in Libya with strong American and Arab League support is not feasible in Syria: the battle is being waged in crowded cities, with little chance to attack the Syrian Army without the risk of high civilian casualties.
More…
Jim Sinclair’s Commentary
This is a serious development with major implications.
Heir to Saudi throne Crown Prince Nayef dies Angus McDowall
Published Saturday, Jun. 16 2012, 9:33 AM EDT
Saudi Arabia’s Crown Prince Nayef bin Abdulaziz al-Saud, next in line to rule the world’s top oil exporter, has died just eight months after becoming heir to 89-year-old King Abdullah, the royal court said on Saturday.
Analysts and former diplomats said the succession process was likely to be stable, however, with the king and a family council expected to start work on the appointment of a new crown prince, who would probably be another brother of King Abdullah.
“With deep sorrow and grief… King Abdullah mourns his brother… Crown Prince Nayef who passed to the mercy of God on Saturday outside the kingdom,” said a royal court statement carried by state media.
State TV said Prince Nayef had died in Geneva where he had been receiving medical treatment for an unknown problem. He was thought to be 78.
His death was not expected to trigger any major changes to the kingdom’s energy policy or to key relationships with the United States and other allies.
“The fundamental principle that the Saudis operate under is stability. So they will I’m sure develop a consensus among the senior members of the family over an orderly succession. That has likely been forming in recent months in any event,” said Robert Jordan, U.S. ambassador to Riyadh from 2001-03.
More…
Jim,
Following your call to action, the following is the content of my email to the SEC:
"Moments after the New York market closed Friday, June 15, 2012, there was a major carpet bombing of various gold mining shares. I listed NGD above as an example of a company I own. Look at the chart. Straight down on virtually no volume immediately after the market closed. 4% down in seconds. Apparently, this tactic was spread across the gold mining shares generally.
When, pray tell, will the SEC take action against these blatant crooks utilizing naked short selling on low volume to manipulate the market price? I’m not counting on it during my lifetime."
If this were against GS or JPM, no doubt the SEC would have the cavalry after them.
CIGA Doug
David,
When you try to catch a raccoon the thing will fight like hell, butting, biting and tearing everywhere. We have to be the same.
I can afford to hire eminent US and Canadian security counsel to
determine if there is civil liability by the perpetrators due to the
company.
I can see if any exchange rules were broken concerning order, size of
price difference on execution, position of the specialist on the AMEX,
time requirement for a MOC order to be entered, Canadian Jitney to the
US, stock borrowed if short, and many other things.
If you go ballistic every time someone touches you soon nobody screws with you.
It is the poor cash strapped gold and silver companies, poor
securities regulation wise management, and people without a voice that
have no option.
I have many options, and will use them all. As an Irish Jew I am determined and without fear.
You have helped me.
Thank you,
Jim
Jim
Dear CIGAs,
Have you had enough of the manipulation of your gold and silver
shares? The more noise we make the closer we come to getting the light
shined on these evil people.
Complain about the raids of your investments by short sellers if you have witnessed it.
Hi Jim,
Looking at quite a few issues this afternoon, this same phenomenon occurred with huge volumes right at the close or even trading after the close. THIS is the biggest, most blatant and in your face manipulation since this whole fiasco started. I entered the PM arena in 1998 and thought that I had seen it all. Apparently not! Of course, we will not hear anything from the regulators but we must yell louder and louder. To suffer in silence is madness and cowardly.
CIGA Bill
Dear Bill,
I am asking my readers that if any gold shares they hold were sneak
attacked after the close tonight that they raise total hell with both
the regulators and the exchange.
I am asking for 400,000 complaints on Monday morning. Suffering in
silence is madness. These people do not want sunlight on themselves so
our only weapon is to turn as much light on as we can.
Dear Friends,
Please complain about the blatant manipulation of your company today to the following:
SEC – http://www.sec.gov/complaint/select.shtml
Amex – http://usequities.nyx.com/customer-support
MORE WAR: Pentagon finishes contingency plans for Syria invasion
from RT:
Officials with the US Department of Defense have confirmed that the
Pentagon has finalized procedures that outline how American forces could
soon combat the government of war-torn Syria and officially involve
itself in that state’s bloody uprising.
After months of rumors suggesting that the US has unofficially made efforts to weaponize rebel forces fighting Syrian President Bashar al-Assad, officials with the Defense Department tell CNN that the Pentagon has finished drafting blueprints that lay-out just how the US military could aid in ousting the leader with America’s own troops.
In their report, CNN cites Defense Department officials speaking on condition of anonymity; in a separate sit-down however, Joint Chiefs of Staff Chairman Gen. Martin Dempsey confirms to the outlet that intensifying violence overseas in recent months has prompted the Pentagon to expedite establishing a role for US forces.
Read More @ RT.com
Officials with the US Department of Defense have confirmed that the
Pentagon has finalized procedures that outline how American forces could
soon combat the government of war-torn Syria and officially involve
itself in that state’s bloody uprising.After months of rumors suggesting that the US has unofficially made efforts to weaponize rebel forces fighting Syrian President Bashar al-Assad, officials with the Defense Department tell CNN that the Pentagon has finished drafting blueprints that lay-out just how the US military could aid in ousting the leader with America’s own troops.
In their report, CNN cites Defense Department officials speaking on condition of anonymity; in a separate sit-down however, Joint Chiefs of Staff Chairman Gen. Martin Dempsey confirms to the outlet that intensifying violence overseas in recent months has prompted the Pentagon to expedite establishing a role for US forces.
Read More @ RT.com
from 108morris108:
Syrian conflict is escalating – NATO’s gunmen are using more advanced weaponry (Thermobaric) – The Syrian government seems to have launched an offensive and seized many weapons – but by the Turkish border particularly there is a lot of infiltration – Telephone interview
Syrian conflict is escalating – NATO’s gunmen are using more advanced weaponry (Thermobaric) – The Syrian government seems to have launched an offensive and seized many weapons – but by the Turkish border particularly there is a lot of infiltration – Telephone interview
by Neil Munro, DailyCaller.com:
President Barack Obama is using his control over government agencies to
establish a semi-amnesty for younger illegal immigrants, even though
the nation’s youth unemployment rate is already at a record level.
The new policy was announced as polls showed that Obama’s re-election campaign is losing ground in critical states, including Wisconsin, North Carolina and Florida.
Obama’s campaign deputies have frequently said that the Hispanic vote is critical to their success in several swing-states, such as Florida, Colorado and North Carolina.
The impact of the new amnesty on American Hispanic voters is unclear, partly because polls show they’re most concerned about jobs and the economy, and they’re worried about cross-border crime.
However, the semi-amnesty for illegal immigrants was immediately praised by advocacy organizations that offer to mobilize Hispanic voters for Obama in November 2012.
“Today’s news is truly a dream come true for me and for so many other DREAMers across the country,” said Felipe Matos, an illegal immigrant and a gay organizer for the advocacy group GetEqual.
Read More @ DailyCaller.com
White House Hypocrisy And Trade Sanctions Against China
President Barack Obama is using his control over government agencies to
establish a semi-amnesty for younger illegal immigrants, even though
the nation’s youth unemployment rate is already at a record level.The new policy was announced as polls showed that Obama’s re-election campaign is losing ground in critical states, including Wisconsin, North Carolina and Florida.
Obama’s campaign deputies have frequently said that the Hispanic vote is critical to their success in several swing-states, such as Florida, Colorado and North Carolina.
The impact of the new amnesty on American Hispanic voters is unclear, partly because polls show they’re most concerned about jobs and the economy, and they’re worried about cross-border crime.
However, the semi-amnesty for illegal immigrants was immediately praised by advocacy organizations that offer to mobilize Hispanic voters for Obama in November 2012.
“Today’s news is truly a dream come true for me and for so many other DREAMers across the country,” said Felipe Matos, an illegal immigrant and a gay organizer for the advocacy group GetEqual.
Read More @ DailyCaller.com
White House Hypocrisy And Trade Sanctions Against China
06/16/2012 - 23:21
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