Submitted by Tyler Durden on 06/22/2015 - 09:31 "A commercial banker said about €400m had been withdrawn via ATMs over the weekend, bringing total outflows to €2bn between Friday and Sunday, a number confirmed by a central bank official. Greek banks have imposed an unofficial ceiling of €3,000 on walk-in withdrawals, the commercial banker added."
"Greece Is Rescued", Economy Minister Tells BBC
Submitted by Tyler Durden on 06/22/2015 - 10:22 While we have seen countless such reports in recent weeks and months, and take each and every one with a mine of salt, the reason ES algos just took out overnight highs was due to a BBC interview - which will be broadcast "shortly" - in which BBC economic editor Robert Peston was told by the Greek economic minister George Stathakis that "he believes Greece's new proposals to balance the government's books have broken the deadlock with its creditors." He said he expects eurozone government heads to issue a communique later today that will say there is now a basis for a formal agreement with Athens to complete the current bailout programme and release €7.2bn of vital funds.
Goldman's "Conspiracy Theory" Stunner: A Greek Default Is Precisely What The ECB Wants
Submitted by Tyler Durden on 06/22/2015 - 11:37 "... the immediate aftermath of such a non-payment will be to push bond yields up across the periphery. This rise in the fiscal risk premium (Exhibit 3) will of course be limited, because the ECB will likely accelerate QE, including via the Bundesbank. That will push rate differentials, especially longer-dated ones, against EUR/$. We estimate that the initial fiscal risk premium effect could be three big figures, while the subsequent QE effect could be worth around seven big figures"
European FinMins Douse Market's Rabid Greek Optimism
Submitted by Tyler Durden on 06/22/2015 - 07:54 While the politicians do what politicians will do (i.e. lie when it "becomes serious"), those who have a predisposition towards pragmatism are indicating that Monday's 'emergency' Greek summit is nothing but a media spectacle that will produce nothing in the way of concrete results and is likely only good for giving the algos a few headlines to chase.Israeli Official's Wife Apologizes For Racist Obama Tweet
Submitted by Tyler Durden on 06/22/2015 - 12:24 The wife of Israeli Interior Minister Silvan Shalom apologized on Sunday for tweeting a racist joke about President Obama.
The Worst Time In History To Be Invested In Stocks
Submitted by Tyler Durden on 06/22/2015 - 08:13 Today will go down in history as one of the worst times in history to be invested in the stock market. Virtually no one believes this statement. That is why it will prove to be true. Every valuation method known to mankind is flashing red. A crash is baked in the cake. Will the trigger be Greek default, a Chinese market crash, a Fed rate increase, a derivative bet going boom, a Middle East event, someone doing something stupid in the South China Sea, a Ukrainian eruption, or a butterfly flapping its wings? When greed turns to fear, for whatever reason, the house of cards will collapse for the 3rd time in 15 years. Thank the “brilliant” bankers at the Federal Reserve.
Hold physical cash “including gold and silver” says manager in one of
largest mutual fund and financial services groups in the world:– “Systemic risk” threat to deposits says respected Fidelity fund manager
– Record global debt unlikely to be sustained by higher interest rates
– Banks may not be prepared for “shock” of defaults
– Guarantees to depositors unlikely to be honoured
– Savers and investors should hold “physical currencies” “including precious metals”
A fund manager for one of the largest mutual fund and investment groups in the world, Fidelity, has warned investors and savers to have an allocation to “physical cash,” “including precious metals” to protect against “systemic risk”.
Read More @ GoldCore.com
Dear CIGAs,
You have heard the phrase many times "it’s already in the market", meaning if "something" or some sort of event happens it is already factored in to prices. I was overseas last week, travelled much of the week and stayed in a hotel that had only two English speaking channels …one of which was CNBC. I cannot tell you how many talking heads were paraded forth whom all parroted the same pabulum, "a Greek default is already factored in the market". Really? REALLY?
For CNBC or any media outlet to downplay a Greek default is plain evil deceit at its core. We have looked at this many times and from many angles, Greece owes close to 350 billion euros and when the amount of written derivatives are included we are probably talking well over 3 trillion euros! Yes, the talking heads keep saying "much of the Greek debt is now off of the banks balance sheets and is now owned by the ECB itself". Does this make it any better? Or could it make the situation even worse because now a central bank has its balance sheet in peril and exposed?
The other side of the coin is the derivatives situation. Please remember when a "default" occurs, the "notional value" becomes the true at risk amount. This was the problem caused by Lehman Brothers in 2008, derivatives which had been supported by margin alone (and very thin at that) saw margin calls explode and the demands of 100% notional payments began. This is why no one, ever, can be allowed to fail. Because then the triggers are pulled and notional settlements begin …with a minor problem. Derivatives simply cannot perform because they total more than the value of everything else added together on the planet. The "money" simply does not exist for everyone to be paid.
The purpose for writing this piece is not to discuss Greece, whether they pull an "Iceland" and leave the central banks holding the bag …or talk about the odds of their banks opening Monday morning …or to speculate as to "when" they default ("if" is already in the rearview window). A Greek exit from the Eurozone or a change in allegiance from NATO to Russia are both very real possibilities …but NONE OF THIS is "in the market". Greece is but one of an absolute litany of potential events being ignored!
The list of potential events being ignored by the markets is very long. They include the geopolitics of Ukraine, Syria, Iraq, Yemen, the South Sea islands Iran, and we might as well throw Israel into this mix. Russia and China just announced trade to be done exclusively in yuan and rubles, is this factored in to the valuation of the dollar? The U.S. has moved missiles into Poland and elsewhere to ring fence Russia, Russia has responded by repositioning "EMP" weaponry. China’s economy is slowing while their margin debt and speculation in stock markets are at an all time high after doubling in value over 6 months. As for the U.S., bogus number after bogus number is being reported while the economy declines in recession…and the world moves further and further from the dollar. It’s all "business as usual" as long as markets can be controlled…
The biggest "factor" being ignored is the fact credit markets around the world have already seriously cracked. Interest rates are rising and bond prices falling. Please, never forget this, "credit" is THE FOUNDATON to the "value" of everything we know and believe to have value. "Credit" (debt) is THE foundation to every current currency on the planet. If the underlying debt is beginning to lose value, what will this mean for currencies? What will it mean for the "discount process" to be used to value stocks? Or real estate? Not to mention the fact current cash flows will have the capacity to carry LESS debt …which has been used to hold up current values? To finish this thought process out, the big picture is quite simple. Debt has continually expanded faster and faster than the underlying global GDP. Current GDP is simply not sufficient in size any longer to carry the global debt burden…
I am going to tell you, NOTHING "bad" is factored into today’s markets… even slightly. All markets, all assets, everything has been "priced to perfection", FORCEFULLY "PRICED". Do you understand what I am saying here? "Prices", all prices are being "made". They are being made to paint a picture of a perfect world. This picture is a must to portray "all is well and no worries". Almost none of the potentials I wrote of above (and there are many more) have even seen the light of day in the Western mainstream press …because if they did then they might affect values and partly be "priced in".
Let me finish by talking about "black swans". A black swan by definition is a surprise event taking participants unaware. How can anything we already know about …and is supposedly priced in to the market be a black swan? Maybe because so few believe a systemic failure can happen? Maybe we should categorize the entire financial system or even our way of life as a "black swan" because almost no one believes "it" (the ride) can ever end? Americans in general know something is wrong but they just can’t put their finger on it. A recent poll taken by Gallup shows confidence in almost everything has dropped
http://www.usnews.com/news/blogs/ken-walshs-washington/2015/06/17/americans-have-lost-confidence-in-everything to previously unseen lows.
As I have mentioned many times before, the last piece of glue holding the system together is confidence. The confidence of a central bank in another central bank, the confidence of institutions in other institutions and of course the confidence of the general public. While on this topic of confidence, why do you believe four European central banks have requested their gold back? Or closer to home, why does Texas want to retrieve their gold from Yankee bankers? Confidence is a peculiar thing, it takes a long time to build and may be retained by "reputation" for quite some time …but when it breaks it goes away like lightning!
None of the potential black swans have seemed to even move the dial because the puppeteers have used derivatives to collar, support and suppress various prices and thus "hide" any bad reaction. I have to believe the ultimate black swan is exactly this, the loss of control of everything including perception. After all, the most ingrained of thoughts are these; the government can never go broke, the government will never allow it or let it happen. Maybe THE black swan is the most obvious of all, the government is in fact broke and Mother Nature does still exist. We have gone so far down the rabbit hole where absolutely nothing is actually "in the market", I believe the biggest shock of all will be what the world looks like the day markets try to reopen?
Regards, Bill Holter
Holter-Sinclair Collaboration
Comments welcome! bholter@hotmail.com
Make sure you eat all your Pacific Seafood...Yummy...
by Ted Ranosa, Tech Times:
Officials at the University of Alaska Fairbanks (UAF) reported that the
bodies of at least nine dead fin whales were spotted floating in the
water near Kodiak Island.
Marine experts from the UAF have documented the sightings of these sea creatures beginning in the middle of May and had continued for around two more weeks.
Tissue samples were collected from two whale carcasses that were washed ashore for further analysis.
Read More @ TechTimes.com
Officials at the University of Alaska Fairbanks (UAF) reported that the
bodies of at least nine dead fin whales were spotted floating in the
water near Kodiak Island.Marine experts from the UAF have documented the sightings of these sea creatures beginning in the middle of May and had continued for around two more weeks.
Tissue samples were collected from two whale carcasses that were washed ashore for further analysis.
Read More @ TechTimes.com
from fukushima TV:
from Mises & 21st Century Wire:
Forcing everyone to spend only by electronic means from an account held at a (government-linked) bank gives technocrats far better tools of social, political and economic control over individuals and communities. This is the war against cash.
“Governments, at least modern western governments, have always hated cash transactions. Cash is private, and cash is hard to tax. So politicians trump up phony reasons like drug trafficking and money laundering to win support for bad laws like the Bank Secrecy Act of 1970, which makes even small cash transactions potentially reportable to the Feds.”
“Today cash is under attack like never before. Ultra low interest rates are the norm for commercial bank accounts. In Europe, as the ECB ventures into negative nominal interest rates, certain banks threaten to charge customers for depositing cash. Meanwhile, certain European bonds now pay negative yields, effectively turning them into insurance products rather than financial assets. And some economists now call for the outright abolition of cash, which shows just how far some will go in their crazed belief that economic prosperity can be commanded by forcing us to spend rather than save.”
The War on Cash is real, and it will only intensify from here on out. Dr. Joe Salerno delivers a powerful and comprehensive breakdown of how it’s happening…
Forcing everyone to spend only by electronic means from an account held at a (government-linked) bank gives technocrats far better tools of social, political and economic control over individuals and communities. This is the war against cash.
“Governments, at least modern western governments, have always hated cash transactions. Cash is private, and cash is hard to tax. So politicians trump up phony reasons like drug trafficking and money laundering to win support for bad laws like the Bank Secrecy Act of 1970, which makes even small cash transactions potentially reportable to the Feds.”
“Today cash is under attack like never before. Ultra low interest rates are the norm for commercial bank accounts. In Europe, as the ECB ventures into negative nominal interest rates, certain banks threaten to charge customers for depositing cash. Meanwhile, certain European bonds now pay negative yields, effectively turning them into insurance products rather than financial assets. And some economists now call for the outright abolition of cash, which shows just how far some will go in their crazed belief that economic prosperity can be commanded by forcing us to spend rather than save.”
The War on Cash is real, and it will only intensify from here on out. Dr. Joe Salerno delivers a powerful and comprehensive breakdown of how it’s happening…
from Jason A:
Bernanke Blasts Lew's $10 Bill Woman-ification
Submitted by Tyler Durden on 06/22/2015 - 12:00 "I was appalled to hear of Treasury Secretary Jack Lew's decision last week to demote Alexander Hamilton from his featured position on the ten dollar bill... a better solution is available: Replace Andrew Jackson, a man of many unattractive qualities and a poor president, on the twenty dollar bill. Given his views on central banking, Jackson would probably be fine with having his image dropped from a Federal Reserve note."
Obama's "Single-Payer" Monopoly Looms As Healthcare Merger-Mania Heats Up
Submitted by Tyler Durden on 06/22/2015 - 11:14 It would appear, whether by plan or unintended consequence, Obama's dream of a single-payer socialized healthcare is getting closer by the day, and as WSJ reports, drastically increasing the risk that ObamaCare is creating oligopolies, with the predictable results of higher costs, lower quality and less innovation. The five largest commercial health insurers in the U.S. have contracted merger fever, and if the logic of ObamaCare prevails, this exercise will conclude with all five fusing into one monster conglomerate.
European Bonds, Stocks Explode Higher As "Optimism" Trade Gets Second Wind
Submitted by Tyler Durden on 06/22/2015 - 10:49 Early hope began to fade as nothing appeared to be settled... and then The BBC unleahed the ultimate "Greece is rescued" quote from an EU Minister. Bond risk is now collapsing (PORTUG -55bps!) as Bunds & TSYs are dumped, Greek stocks are up 9%, and all European Bourses are surging as even EURUSD is rallying (breaking its earlier correlation)...
Crossing The Event Horizon On 50 Years Of A Financially-Engineered Black Hole
Submitted by Tyler Durden on 06/22/2015 - 09:55 "The net effect of all that will be the disappearance of nominal wealth — it crosses an event horizon into a black hole never to be seen again. The continent discovers it is a lot poorer than it thought. Fifty years of financial engineering comes to the grief it deserves for promoting the idea that it’s possible to get something for nothing."Caught On Camera: A Greek ATM Gets A Refill
Submitted by Tyler Durden on 06/22/2015 - 09:52
How Will Russia Respond To Asset Seizure Over Yukos Settlement?
Submitted by Tyler Durden on 06/22/2015 - 09:17 Senior Russian officials said Kremlin lawyers are studying France and Belgium’s seizure of Russian government assets in the two countries as part of a court settlement to compensate shareholders of Yukos, the privately owned oil company that was shut down by Moscow.
Eurogroup Announces Surprisingly Early Press Briefing - Live Feed
Submitted by Tyler Durden on 06/22/2015 - 08:32 Speculation is rife as the Eurogroup announces a much earlier than expected press conference. The exuberant expectations "priced in" to markets are fading fast as traders fear the short nature of the meeting combined with dysphoria from Schaeuble suggest no deal is close and new Greek proposals remain far from adequate for its European "partners." Local reports suggest this brings into doubt whether this evening's EU leaders' meeting will go ahead.Greece will make a last-ditch attempt to find a deal with its European creditors at an emergency summit of eurozone leaders later today. Greece could default within days if nothing is agreed.
from Sputnik:
NATO is using the false claim of Russia’s “invasion” of Crimea in order
to justify its own military activities near Russia’s border, Eric
Zuesse underscores.
The United States has recently turned into a “dictatorship” in which its people, with the exception of the richest 10 percent, have no impact on the country’s policies, publicist and investigative historian Eric Zuesse emphasizes.
Commenting on the recent interview given by NATO and America’s General Ben Hodges to the US national radio, the investigative historian blasted the general for a blatant lie: Hodges claimed that Russia “invaded” Crimea, “the day after the Sochi Olympics.”
Read More @ Sputnik.com
NATO is using the false claim of Russia’s “invasion” of Crimea in order
to justify its own military activities near Russia’s border, Eric
Zuesse underscores.The United States has recently turned into a “dictatorship” in which its people, with the exception of the richest 10 percent, have no impact on the country’s policies, publicist and investigative historian Eric Zuesse emphasizes.
Commenting on the recent interview given by NATO and America’s General Ben Hodges to the US national radio, the investigative historian blasted the general for a blatant lie: Hodges claimed that Russia “invaded” Crimea, “the day after the Sochi Olympics.”
Read More @ Sputnik.com
from ZenGardner:
I have a hard time with people not being willing to recognize what’s
obviously in front of their faces. It’s a voluntary mind game people
play with themselves to justify whatever it is they think they want.
This is massively exacerbated by an array of social engineering tactics,
many of which are to create the very mind sets and desires people so
adamantly defend.
But that’s no excuse for a lack of simple conscious recognition and frankly makes absolutely no sense.
We can’t blame these manipulators for everything. Ultimately we all have free choice. Plainly seeing what’s right in front of our noses, no matter how well sold or disguised, is our human responsibility. That people would relinquish this innate right and capability totally escapes me.
Read More @ ZenGardner.com
I have a hard time with people not being willing to recognize what’s
obviously in front of their faces. It’s a voluntary mind game people
play with themselves to justify whatever it is they think they want.
This is massively exacerbated by an array of social engineering tactics,
many of which are to create the very mind sets and desires people so
adamantly defend.But that’s no excuse for a lack of simple conscious recognition and frankly makes absolutely no sense.
We can’t blame these manipulators for everything. Ultimately we all have free choice. Plainly seeing what’s right in front of our noses, no matter how well sold or disguised, is our human responsibility. That people would relinquish this innate right and capability totally escapes me.
Read More @ ZenGardner.com
by Adam Dick, The News Doctors:
This week on the Ron Paul Liberty Report, Ron Paul discussed with guest
Lew Rockwell their many years working to advance liberty, as well as
their shared optimism for the future. For people new to libertarian
ideas, the engaging conversation is a good starting point for obtaining a
feel for the fight for liberty in America since the 1970s and an
understanding of the contributions made by Paul and Rockwell in that
fight. For anyone brought down by the relentless advance of leviathan
government, watching the interview may provide a jolt of assurance that
there is hope for the cause of liberty.
Many people are familiar with Rockwell because of his work as the chairman of the Ludwig von Mises Institute, or because of his much-visited news and commentary website lewrockwell.com. But, before all that, Rockwell was Paul’s chief of staff in the House of Representatives. In the interview Paul and Rockwell discuss their first meeting in the 1970s. Also addressed in the interview are Rockwell becoming seminal Austrian economist Ludwig von Mises’ editor at a young age and later working in Paul’s House of Representatives office.
Read More @ TheNewsDoctors.com
This week on the Ron Paul Liberty Report, Ron Paul discussed with guest
Lew Rockwell their many years working to advance liberty, as well as
their shared optimism for the future. For people new to libertarian
ideas, the engaging conversation is a good starting point for obtaining a
feel for the fight for liberty in America since the 1970s and an
understanding of the contributions made by Paul and Rockwell in that
fight. For anyone brought down by the relentless advance of leviathan
government, watching the interview may provide a jolt of assurance that
there is hope for the cause of liberty.Many people are familiar with Rockwell because of his work as the chairman of the Ludwig von Mises Institute, or because of his much-visited news and commentary website lewrockwell.com. But, before all that, Rockwell was Paul’s chief of staff in the House of Representatives. In the interview Paul and Rockwell discuss their first meeting in the 1970s. Also addressed in the interview are Rockwell becoming seminal Austrian economist Ludwig von Mises’ editor at a young age and later working in Paul’s House of Representatives office.
Read More @ TheNewsDoctors.com
Filed under False Flag Operations...
from TRUTHstreammedia:
This is how a psyop works. Now, because of what has hallmarks of an MKUltra shooting, we’re supposed to believe we’re in a race war and none of us should be allowed to own a gun.
Check out how Reuters took basic reporting on what we were told are the “facts” of the Charleston shooting on the evening of June 17th and in a whole day took a kitchen sink approach of adding everything from slavery to Sandy Hook to homegrown domestic extremists and even 9/11 to the narrative to politicize this story in every way possible to push a race war and gun control in the same sentence…
Also this needs to be questioned: Tell-Tale Sign of a Crisis Actor?
http://wp.me/p5kV9A-3hI
This is how a psyop works. Now, because of what has hallmarks of an MKUltra shooting, we’re supposed to believe we’re in a race war and none of us should be allowed to own a gun.
Check out how Reuters took basic reporting on what we were told are the “facts” of the Charleston shooting on the evening of June 17th and in a whole day took a kitchen sink approach of adding everything from slavery to Sandy Hook to homegrown domestic extremists and even 9/11 to the narrative to politicize this story in every way possible to push a race war and gun control in the same sentence…
Also this needs to be questioned: Tell-Tale Sign of a Crisis Actor?
http://wp.me/p5kV9A-3hI
by James Tracy, Global Research:
An open-access website called fotoforensics.com analyzes digital images to detect potential alteration. One of the techniques offered at the site is Error Level Analysis.
According to the site’s tutorial on ELA:
Error Level Analysis (ELA)permits identifying areas within an image that are at different compression levels. With JPEG images, the entire picture should be at roughly the same level. If a section of the image is at a significantly different error level, then it likely indicates a digital modification …
ELA highlights differences in the JPEG compression rate. Regions with uniform coloring, like a solid blue sky or a white wall, will likely have a lower ELA result (darker color) than high-contrast edges. The things to look for:
Read More @ Globalresearch.ca
Error Level Analysis (ELA)permits identifying areas within an image that are at different compression levels. With JPEG images, the entire picture should be at roughly the same level. If a section of the image is at a significantly different error level, then it likely indicates a digital modification …
ELA highlights differences in the JPEG compression rate. Regions with uniform coloring, like a solid blue sky or a white wall, will likely have a lower ELA result (darker color) than high-contrast edges. The things to look for:
Read More @ Globalresearch.ca
from Pete Santilli Show:
Pete and Deb cover the anomalies beginning to emerge in the case of Dylan Storm Roof, the 21 year old man who killed nine church members in a Columbia South Carolina Church this past week.
Anomalies: 1. One of Roof’s best friends was black and in an interview with the BBC says Roof’s target was not the church but the campus of South Carolina University just 3 miles away from the church. How did Roof end up at the church? Roof’s black friend say’s that Dylan had never shown any racism toward him or others in his presence. How is that possible?
2. The Pastor (Clemeta) killed in the shooting, was a South Carolina Senator, good friends with Barack and Michelle Obama and had attended a Hillary Clinton campaign fund raiser just 5 hours before the shooting.
3. The media began using words “drug” and “Mental” almost immediately even though there has been no evidence that either drugs or mental instability are a factor in this case.
4. The media has created a debate on terrorism vs murder
5. Barack Obama immediately made this a gun issue
6. A website was mysteriously found, supposedly belonging to the shooter, where he supposedly wrote a manifesto and posted dozens of incriminating photo’s that would prove he was a racist.
7. Some time between February and April 2014 the website was registered to an ip address in Russia
8. The website was masked for privacy until the day of the shooting
9. Dylan Storm was a jobless high-school dropout – Where did he get the money to build a website?
10. Manifesto is perfectly written by a high school dropout with few typo’s and is grammatically correct, yet he apologizes in the end for any typos he may have committed in a document he claims he didn’t have time to reread. The typos look strategically placed.
Pete and Deb cover the anomalies beginning to emerge in the case of Dylan Storm Roof, the 21 year old man who killed nine church members in a Columbia South Carolina Church this past week.
Anomalies: 1. One of Roof’s best friends was black and in an interview with the BBC says Roof’s target was not the church but the campus of South Carolina University just 3 miles away from the church. How did Roof end up at the church? Roof’s black friend say’s that Dylan had never shown any racism toward him or others in his presence. How is that possible?
2. The Pastor (Clemeta) killed in the shooting, was a South Carolina Senator, good friends with Barack and Michelle Obama and had attended a Hillary Clinton campaign fund raiser just 5 hours before the shooting.
3. The media began using words “drug” and “Mental” almost immediately even though there has been no evidence that either drugs or mental instability are a factor in this case.
4. The media has created a debate on terrorism vs murder
5. Barack Obama immediately made this a gun issue
6. A website was mysteriously found, supposedly belonging to the shooter, where he supposedly wrote a manifesto and posted dozens of incriminating photo’s that would prove he was a racist.
7. Some time between February and April 2014 the website was registered to an ip address in Russia
8. The website was masked for privacy until the day of the shooting
9. Dylan Storm was a jobless high-school dropout – Where did he get the money to build a website?
10. Manifesto is perfectly written by a high school dropout with few typo’s and is grammatically correct, yet he apologizes in the end for any typos he may have committed in a document he claims he didn’t have time to reread. The typos look strategically placed.
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