Worldwide Economic Collapse Averted For Now? ‘Bailout Forces’ in Charge After Election Win in Greece

from CNBC:

Parties committed to Greece’s bailout were on course to secure a parliamentary majority on Sunday and the radical leftists who had vied for first place conceded defeat in an election that could keep the debt-laden country in the euro zone.

An official projection released by the interior ministry showed conservative New Democracy taking 29.5 percent, with the radical leftist SYRIZA bloc just behind on 27.1. The PASOK Socialists were set to take 12.3 percent of the vote.

Because of a 50-seat bonus given to the party which comes first, that result would give New Democracy and PASOK 161 seats in the 300-seat parliament, in an alliance committed to a 130 billion euro ($164 billion) EU/IMF bailout keeping the country from bankruptcy.

“I am relieved,” smiling New Democracy leader Antonis Samaras told Reuters, leaving his office to joyous chants from supporters. “I am relieved for Greece and Europe. As soon as possible we will form a government.”

Read More @ CNBC.com

 

SocGen's Take On The Greek Elections And What Happens Next

"MARKET ISSUES: Greek euro exit fears are likely to ease for now, but even in this best case outcome, Greece will continue to struggle to meet programme targets and renegotiation with a possible third programme for Greece will soon have to be addressed. Moreover, this does not solve the fundamental issues weighing on Spain and Italy."

Wooing the Germans

by James Turk, Gold Money:

It has been over a year since Mr Axel Weber made his surprise decision not to seek the top post at the European Central Bank, which led soon thereafter to his resignation as president of the Bundesbank. These events transpired at a critical moment for the euro. The Greek crisis was still simmering, and borrowing costs across southern Europe were rising, raising fears that other countries might follow the path of Greece, Ireland and Portugal in needing bailouts.
The Wall Street Journal reported at the time that Mr Weber’s announcement “undermined a key plank” of Chancellor Angela Merkel’s “strategy to restore Germans’ confidence in the euro.” It went on to say that she “had hoped to win back Germans’ trust in the single currency by installing a German as head of the ECB.”
It was a logical strategy, given the confidence the German people place in the leaders of the Bundesbank, and indeed, in that venerated institution itself. It is a trust well-deserved given that for 50 years the Bundesbank guided the Deutschemark to a record of stability unmatched by any other central bank, except Switzerland, which was pursuing a similar policy based upon German monetary discipline.
Read More @ GoldMoney.com

Dutch banks downgraded/Holland’s retail sales contract badly/poor USA Empire number/ Poor Michigan consumer confidence number

by Harvey Organ, HarveyOrgan.Blogspot.ca:
Before I commence with my commentary, it saddens me to report that we have 3 new entrants who on Friday took their last breath as they succumbed to the wishes of the FDIC and entered our hallowed morgue.
1. Farmers Bank of Lynchburg Tennessee
2. Security Exchange Bank of Marietta Georgia
3. Putnam State Bank from the great metropolis Palatka Florida.
Gold closed up on Friday to the tune of $6.60 to $1627.00 whereas silver still seems to be under the banking cartels control with respect to price. On Friday, the silver price rose 33 cents to $28.73.
The big news from Europe was the big downgrade of the 5 Dutch banks, with the two biggies, Amro and Rabobank included in that list. The Spanish 10 yr yield hit 7% early in the session but later sold off in yield to finish at a yield of 6.88%. The Italian 10 yr bond crossed below the 6% level finishing at 5.92%. Retail sales from Holland plummeted by 11% last month in a performance worse than Spain’s 9.7%.
Read More @ HarveyOrgan.Blogspot.ca

Woman claims safe full of $262,000 in gold buried in her yard missing

by Mandy Valencia, Mail Tribune:
An Ashland woman says she buried a safe containing $262,000 in gold Krugerrands in her backyard two years ago. But when she went to dig it up earlier this year, it was gone.
The woman told police she began buying gold in 2006. She said when she returned to dig up the safe, she found other containers of money and precious metals that she had buried, but not the safe.
Read More @ mailtribune.com

UN Plans to Expand the Phony Water Crisis … ‘Smart Water Meters’ on the Way

by Anthony Wile, The Daily Bell:
UN-Water Survey Examines Water Law Reform … Twenty years ago this June world leaders gathered in Rio de Janeiro for an Earth Summit to develop an action plan for sustainable development. They discussed a wide variety of topics including climate change, alternative sources of energy to replace fossil fuel and the growing scarcity of water. This June, world leaders will gather once again for the Rio+20 Conference to examine the progress that has been made. – WaterWorld
Here we go again!
Leading proponents of “leveling” are preparing to descend on Brazil for the upcoming Rio+20 Earth Summit, hosted by the United Nations, and one of the items on the menu will be a re-valuation of the UN’s muddled Integrated Water Resources Management (IWRM) initiative.
The results will doubtless be a further weakening of property rights around the world under the guise of communitarianism and outright socialism.
Read More @ TheDailyBell.com

Financial System Has Broken Down, The Fix & Where to Invest

from KingWorldNews:
With investors around the world wondering what can be done to fix the broken financial system, today Michael Pento, of Pento Portfolio Strategies, writes exclusively for King World News to let readers know what to expect and how to fix the system as it continues to collapse. Here is what Pento had to say about the situation: “We now live in a phony economic world where central bankers rule without check. Any hint of weakening data, which is actually a sign of reality and healing returning to the economy, is quickly met with the promise of more disastrous money printing. Last week we saw U.S. factory orders down and initial jobless claims rise. In Europe, we saw the Spanish bank bailout fall flat on its face and interest rates spike in Spain and Italy.”
Pento continues @ KingWorldNews.com

Radioactive buckyballs from Fukushima invade California beaches

by J. D. Heyes, Natural News:
As the fallout – no pun intended – from Japan’s tsunami-damaged nuclear reactors at its Fukushima complex continues to worsen, scientists are now concerned about another related phenomenon that appears to be invading the U.S. West Coast – buckyballs.
What, exactly, are those? According to a recent University of California – Davis study, in this case the term refers to uranium-filled nanospheres which were “created from the millions of tons of fresh and salt water used to try to cool down the three molten cores of the stricken reactors,” said Michael Collins, of EnviroReporter.com – not the small, magnetic balls that cling to each other.
The tiny, stout buckyballs – which resemble soccer balls – are said to have been formed when water hit the super-heated, primarily uranium-oxide, fuel in the damaged reactors at Fukushima. “In this goo buckyballs are formed, loaded with uranium and able to move quickly through water without disintegrating,” said the report.
Read More @ NaturalNews.com

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