Citi Predicts Greek Hyperinflation Breaks Out In Two Years

Submitted by Tyler Durden on 07/21/2015 - 15:14 The one line item everyone looks for in every Greek forecast is what its debt will be now that reality is finally allowed to creep in. We have dutifully highlighted it on the chart below: it is now expected to hit 238% by 2018. But it was another number that caught our attention: Citi's estimate for Greek HICP (inflation) in 2017. 22.5%  In other words, Citi predicts that by 2017 Greece will have hyperinflation even if it remains in the Eurozone.

Greek Prime Minister Asked Putin For $10 Billion To "Print Drachmas", Greek Media Reports

Submitted by Tyler Durden on 07/21/2015 - 13:39 In what may be the biggest story of the year, if confirmed, Greek newspaper To Vima reports that Greek Prime Minister Alexis Tsipras has asked Russian President Vladimir Putin for 10 billion dollars in order to print drachmas. But the real shocker: on the night of the referendum, word came from Russia that Putin did not want to support Greece’s return to the drachma. After that, Tsipras had no choice left but to “surrender” to German Chancellor.

Greece Needs A €130 Billion Debt Haircut: Citi

Submitted by Tyler Durden on 07/21/2015 - 12:49 "The size of the required ‘upfront’ (i.e. to be introduced in 2016) principal haircut to be €110bn (60% of annual Greek nominal GDP in 2014). Note that we do not see much difference in an alternative scenario based on a ‘tranched’ principal haircut framework (of around €15bn per year), also starting in 2016. However, a ‘backloaded’ (i.e. to be introduced in 2022) approach relying on a single haircut would be more expensive, amounting to €130bn (72% of annual Greek nominal GDP in 2014)."

Presenting America's $900 Billion Auto Loan Bubble In 6 Charts

Submitted by Tyler Durden on 07/21/2015 - 14:55

The One Trick Pony Market

Submitted by Tyler Durden on 07/21/2015 - 14:42 You don’t hear it much, but the S&P 500 has been a bit of a “One trick pony” in 2015. No, it isn’t the 4% weighting in Apple that makes it such; it is the combination of a 15% weighting in Health Care AND that sector’s 12.9% return year to date.  When you compare the S&P 500’s price return year to date of 3.37%, you can see that the Health Care sector’s contribution is essentially just over half the market’s price return for 2015 (12.9 times 15% is 1.90 of that 3.37). Layer on the fact that 5 of the 10 industry sectors in the S&P 500 are still down on the year: Materials (-2.7%), Industrials (-2.9%), Telecomm (-0.7%), Utilities (-8.6%) and Energy (-9.7%). 

Define Irony: Greek Banks Refuse To Buy ESM Bonds To Fund Greek Bailout

Submitted by Tyler Durden on 07/21/2015 - 14:25 In the latest example of what happens when circular funding schemes begin to trip over each other, National Bank of Greece has refused to participate in an auction for paper issued by the bailout fund which is set to recapitalize the Greek banking sector.

Obama Nominates FX Expert To Fed Board Amid Strong Dollar Worries

Submitted by Tyler Durden on 07/21/2015 - 14:10 If the Fed is concerned that a rate hike cycle might exacerbate the supposed drag on the economy exerted by the strengthening dollar and that tightening when the rest of the world is immersed in competitive devaluation could create FX headwinds for US exports, then why not nominate a currency strategist to the Fed board to weigh in on the subject? Well, as it turns out, that’s precisely what the Obama administration did on Monday.

$2800/Mth To Live In Oakland - Where Cops Say Don't Bother Calling If Your Car Is Stolen

Submitted by Tyler Durden on 07/21/2015 - 13:57 Over the last 5 years, rent costs in the city of Oakland have doubled. At $2,807 per month it more expensive to live in Oakland now than it was in SanFrancisco in 2012, so one would expect the city to have 'cleaned up', and 'be safer'? However, as SFGate reports, the city laid off 80 officers today to help eliminate a $30.5 million budget deficit, prompting the department to announce that officers would no longer be dispatched to take reports for most nonviolent crimes. "With current levels of staffing, we are unable to respond to many lower-priority calls," said Officer Jeff Thomason, a police spokesman.

California's Gas Price Premium Has Never Been Higher, Here's Why

Submitted by Tyler Durden on 07/21/2015 - 13:16 California's gasoline price premium to the rest of the nation is the highest on record, according to Bloomberg data. This, as OilPrice's Andy Tully notes, is in large part because an Exxon Mobil Corp. refinery in Torrance has been out of commission since an explosion there in February, and the state’s environmental regulations are hampering the company’s efforts to quickly get it back to full production. This situation is not expected to improve by year-end.

The Dollar Is Getting Hammered

Submitted by Tyler Durden on 07/21/2015 - 13:10 The Euro is up 1.3% - the biggest jump in 6 weeks - as the US Dollar is weakening against all the majors (except cable). The USD Index is down almost 1%, its biggest drop in 7 weeks...

John Kerry "Very Disturbed" By Iran Vow To Defy American Policies

Submitted by Tyler Durden on 07/21/2015 - 12:30 Surprise! Just days after the 'deal' to bring world peace a little closer amid much crowing by the Obama administration (ahead of Congress' 60-day decision process), Iranian Supreme Leader Ali Khamenei on Saturday vowed to defy American policies in a speech punctuated by chants of "Death to America" and "Death to Israel". As Reuters reports, US Secretary of State John Kerry said the speech was "if it is the policy, it's very disturbing, it's very troubling," seemingly surprised at the rhetoric.

Greeks Laugh As Bankers Beg Depositors To Return Money

Submitted by Tyler Durden on 07/21/2015 - 12:25 President of Greek Banks Association Louka Katseli appealed at the citizens to return their money to the banks. “Banks are absolutely trustworthy,” Katseli told Mega TV, “Let’s all help our economy... If you take your money out of your chests and houses – which are not safe in any case – and deposit at banks, this will enhance liquidity.” Katseli’s appeal triggered laughter among Greeks with one exclaiming “Ah sure! Banks will never see my money again, I prefer to buy tonnes of peanuts with it.”

Take Cover - Wall Street Is Breaking Out The Bubblies

Submitted by Tyler Durden on 07/21/2015 - 12:14 This charmed circle includes Google, Amazon, Baidu, Facebook, Saleforce.com, Netflix, Pandora, Tesla, LinkedIn, ServiceNow, Splunk, Workday, Ylep, Priceline, QLIK Technologies and Yandex. Taken altogether, their market cap clocked in at $1.3 trillion on Friday. That compares to just $21 billion of LTM net income for the entire index combined. The talking heads, of course, would urge not to be troubled. After all, what’s a 61X trailing PE among today’s leading tech growth companies?

How to Wage War On the Bankers Who Have Hijacked Our Government

by Dave Hodges, The Common Sense Show:
More and more people and organizations are becoming adept at identifying the evil injustices which have invaded every facet of our lives.
Jade Helm has put this nation under martial law. Malls, schools, stadiums, arena and warehouses are being prepared to become makeshift FEMA camps. Christians, on a national scale are being marginalized in favor of gays and Muslims. Pharmaceuticals have taken over the legislative process and are getting government to mandate vaccines with no exemptions. CPS is still stealing kids, many for no other reason than the fact that is profitable to do so.
Read More

Gold And Silver Shortages Become Acute – GLD Is Being Looted Again

by Dave Kranzler, Investment Research Dynamics:
GATA was the first in this country to warn, based on a historically very reliable source from London, that there would be acute shortages of gold and silver this fall at refiners in Europe. A few weeks later the mint announces that it is suspending sales of one ounce silver eagles until at least August. And it now looks like GLD is being looted.
At the same time, both gold and silver eagle sales in June went vertical in June. Last week the amount of gold withdrawn from the Shanghai Gold Exchange – 61.8 tonnes – was the 8th largest weekly withdrawal on record.
Read More @ InvestmentResearchDynamics.com

“Central Bank Warfare Model Wearing Thin”: Nations Desperate for Way Out of Crunch

by Mac Slavo, SHTFPlan:

A financial expert has warned that allowing predatory economics to continue misleading the world can only result in three things: war, depopulation… or, maybe, change.
That is, if countries like Greece or Puerto Rico can ever find a way out. As things stand, the wolves are circling for another round of flesh.
That change is not some vague notion voiced in political rhetoric, but the need to create an economy that actually produces real wealth — the only way to get people out of the pit of hell in the long term.
Catherine Austin Fitts, a whistleblower and former Wall Street executive, told Greg Hunter at USA Watchdog:
Read More @ SHTFPlan.com

Seeking War To The End Of The World – Robert Parry

from The News Doctors:
If the neoconservatives have their way again, U.S. ground troops will reoccupy Iraq, the U.S. military will take out Syria’s secular government (likely helping Al Qaeda and the Islamic State take over), and the U.S. Congress will not only kill the Iran nuclear deal but follow that with a massive increase in military spending.
Like spraying lighter fluid on a roaring barbecue, the neocons also want a military escalation in Ukraine to burn the ethnic Russians out of the east, and the neocons dream of spreading the blaze to Moscow with the goal of forcing Russian President Vladimir Putin from the Kremlin. In other words, more and more fires of Imperial “regime change” abroad even as the last embers of the American Republic die at home.
Read More @ TheNewsDoctors.com

Gold And The Silver Stand-Off: Is The Selling Of Paper Gold And Silver Finally Ending?

This has almost entirely separated the “gold price”, such as it is (the clearing price for vast volumes of paper gold “representations” with a fractional backing) from the fundamental supply and demand dynamics for actual physical gold bullion.
by Paul Mylchreest of ADM Investor Services Intl, via Investment Watch Blog:
Gold and the Silver stand-off: Demarketing and Deep Value
The demarketing (in the 1971 Harvard Business Review, Kotler and Levy defined demarketing as “discouraging customers in general or a certain class of customers in particular on either a temporary or a permanent basis.” This is normally done when there is a shortage of supply or desire to promote other products) of gold may be close to running its course as it seems that sellers of paper gold instruments are attempting to induce one more sell-off to fully cover their diminishing short positions. Indeed, signs are emerging that the long Nikkei/short gold trade, which has done so much damage to gold’s price, is becoming problematic.

This could be due to one or more of: less desire to run large paper short positions by some banks/funds; rising cost of repo funding; larger bids emerging for physical bullion below $1,200/oz; and/or a view that the BoJ is reluctant to engage in ever greater stimulus. The gold basis and four major identifiable sources of gold demand (Shanghai Gold Exchange withdrawals, Indian imports, net ETF changes and net central bank changes) are indicating strong physical demand right now.

Read More @ Investmentwatchblog.com
hat tip: Silver Shield

Austerity Measures: Who Is Really Paying for the Bailout in Greece?

by Daisy Luther, The Organic Prepper:
Everyone knows that when you fall on hard times financially, you tighten your budget. But it’s one thing to go through and examine your own personal spending, making decisions where to cut and where to continue spending, and quite another to have someone personally unaffected by those cuts make the decisions for you.
As the collapse of Greece accelerates, the most vulnerable citizens are paying for the bad decisions of the government.
Despite the wishes of the people of Greece, who voted overwhelmingly against accepting the “help” 10 days ago, the government has caved to the EU and is negotiating the terms of a third “bailout.” In the agreement, Chancellor Angela Merkel of Germany has deemed that none of the debt will be forgiven, but the payments could potentially be stretched out over a longer period of time.
Read More @ TheOrganicPrepper.com

The War of Northern Aggression

from TruthNeverTold:

The History Tyrants Have Learned From America’s Forefathers!

from The Sleuth Journal:



“History repeats itself, and that’s one thing wrong with history. Or right with history!”
I thought it was very telling this past week that the President of the United States thought it necessary to further fortify himself against the people he serves by putting spikes on the posts around the people’s White House.
On a daily basis, we in America are inundated with the magnification of the crimes that are committed by the despots who are supposed to represent us (Numbers 32:23). Yet, if he were serving in the manner that he should be serving, he, like the presidents of the past, could actually walk up and down the streets shaking the hands of those he represents without fear of reprisal.
Read More @ Thesleuthjournal.com

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