Sunday, July 5, 2015

Greece Contemplates Nuclear Options: May Print Euros, Launch Parallel Currency, Nationalize Banks


According to Telegraph's Ambrose Evans Pritchard who quotes what appears to be a direct quote to him from Yanis Varoufakis, Greece will, "If necessary... issue parallel liquidity and California-style IOU's, in an electronic form. We should have done it a week ago." Hardliners within the party - though not Mr Varoufakis - are demanding the head of governor Stournaras, a holdover appointee from the past conservative government.  They want a new team installed, one that is willing to draw on the central bank's secret reserves, and to take the provocative step in extremis of creating euros.


IOUs It Is: Why Greece May Have A Problem Printing "Rogue" Euro Banknotes






Cradle of Western Democracy ! Have to love it.
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More than 61% of Greeks Say ‘No’ in Crucial Bailout Referendum

from Russia Today:
More than 61 percent of Greeks have voted “No” in Sunday’s referendum on the bailout deal and austerity measures, reported the Interior Ministry after almost 90 percent of the vote had been counted.
Thousands of people took to Syntagma square in front of the Greek parliament in Athens to celebrate the ‘No’ vote, which was called “a big Yes to democratic Europe” by the country’s finance minister, Yanis Varoufakis.
“As of tomorrow, with this brave ‘No’ the Greek people handed us…. we will extend a helping hand towards our lenders. We will call on each one of them to find common ground. As of tomorrow, Europe, whose heart is beating in Greece tonight, is starting to heal its wounds, our wounds,” Varoufakis said, as cited by Reuters.
Read More @ RT.com



China "Crosses Rubicon" With Stock Bailout; BofA Says PBoC Risks "Hurting Its Credibility"

"The A-share market may not bottom until the government, possibly via the PBoC, becomes the buyer of the last resort. It seems that the government might have just taken the first step in that direction on Sunday night with PBoC’s promise to provide liquidity support to stabilize the market. If PBoC becomes the main source of market-supporting liquidity, we expect the central bank's credibility to be hurt."


Early Poll Results Show Victory For ‘No’ Vote in Greek Referendum

from Infowars:

‘No’ supporters are already celebrating

Numerous media outlets are reporting that the ‘no’ vote has a slight lead in the Greek referendum on the EU bailout.
Paul Joseph Watson: Every exit poll saying ‘no’ camp has won. If this now goes the other way, serious questions are gonna be asked.”
Read More @ Infowars.com

Gerald Celente – The Great Global Panic Is On But This Is Going To Shock The World

from KingWorldNews:
When the gold price rises it is not going to go up slowly, it is going to spike. You are going to see a number of up-limit days (in the gold market).
Bankster Market Manipulation Is A Fact
“For gold to be soft as we are watching a panic spread throughout the world is irrational. There has to be manipulation. That’s not a conspiracy theory, it’s a fact. We know there have been manipulations whether it’s in Forex or LIBOR, and we know for a fact that banks have been convicted of felonies for rigging those markets.
Gerald Celente continues @ KingWorldNews.com



More Sellside Reactions To The Greek Referendum

Today, Greeks sent a resounding message to Brussels, Frankfurt, and Berlin that they are not willing to acquiesce to further humiliation at the hands of creditors. Now, a stunned sell-side — which had, over the past three months, very carefully tweaked their base cases to reflect the growing risk of Grexit — is scrambling to explain to nervous clients what happens next.




S&P Futures Tumble 1.5% At Open: ES Down 33

The number everyone's been waiting for all afternoon is finally here: moments ago ES opened for trading after the holiday weekend and it's not pretty, down 1.5% to 2035 in early illiquid trading.


Greeks Flood Syntagma Square To Celebrate "No" Vote






The "Nightmare Of The Euro-Architects" Is Coming True: JPM Sees Grexit Base Case, "Split In Eurogroup In Coming Days"

Perhaps the best summary - or epitaph, some would say - of the shocking events that took place in Greece this afternoon, and the resultant falling dominoes that are about to be unleashed, was given by Slovakia's finance minister Peter Kazimir, who summarized events as follows: "The nightmare of the 'euro-architects' that a country could leave the club seems like a realistic scenario after Greece voted No today."  So here is JPM's Malcom Barr with the bank's latest take on Greece which is that at this point, a Grexit is JPM's "base case"... and it only goes downhill from there.


Gagging the Nation: Government and Corporate Trolls on the Internet

How people are paid to cause virtual war
by Christina Sarich, Natural Society:

I’ve personally been affected by the vitriolic and absurd comments of paid shills on the Internet, as have many individuals trying to report ‘truth’ as they see it. I’ve always suspected there were people being paid by mega-companies like Monsanto to try to defame my words. Now I have proof.
In documents released by Edward Snowden and Glen Greenwald, there is now proof that Western governments have been trying to wreak havoc on the lives of people who dare to expose corporate crimes and government infiltration by Big Biotech, Big Banks, Big Pharma, and the ‘unseen hand’ that is ruining the world. Not only do they dare to try to limit free speech, but in an attempt to control money and power (and thus people), they also try to defame and discredit anyone who blows the whistle on their insalubrious and greed-driven misdeeds.
Read More @ NaturalSociety.com




Official Greferendum Results Show "No" Landslide: Singular Logic Projects "Oxi" Victory

It seems the early forecasts showing the No vote in the lead were right: according to the Ministry of the Interior, with over 21% of the vote counted, the "No's" have a resounding lead with well over 60% of the vote.





Risk Off: FX Carry Trades Tumble, Euro Opens Under 1.10; USDJPY Under 121

With nearly 60% of the Greek refrendum vote counted, and the No's leading by a landslide 61%, it is clear that the Troika's gambit failed, unless as Goldman wrote and we first noted, it was the ECB's intention to force a Grexit all along, thus permitting the ECB to engage in more QE: QE which would in Goldman's estimation, push the EURUSD down 7 big figures and further toward parity, sending global stocks soaring in one last central bank-inspired hurrah.




Greek PM Calls Emergency Meeting For Bank Liquidity: MNI

Congratulations Greece: for the first time you had the chance to tell the Troika, the unelected eurocrats, and the entire status quo establishment, not to mention all the banks, how you really felt and based on the most recent results, some 61% of you told it to go fuck itself. Now comes the hard part.



Wall Street's Next Bonanza: Subprime Marriage-Backed Securities

If marriage insurance sales take off, it's only a matter of time before Wall Street repackages it and sells it to investors via subprime marriage-backed securities. A boom in marriage speculation would ensue. Did you see your neighbor with his mistress last night? Buy some MBS credit default swaps on him and tell his wife what you saw.



Tulving 2.0? Gold Bullion Dealer “Suspends Operations” Due To “Significant Transactional Delays”

from Silver Doctors:

Gold bullion dealer Bullion Direct customers were greeted with an information message over the Holiday Weekend that they have “suspended operations” due to “significant transactional delays”
While Tyler Durden and others among the PM community immediately began speculating that a significant bullion delivery shortage/issue has developed, SDBullion can confirm that this is NOT the case in the US wholesale market. 
While demand has increased exponentially in the past several weeks with both gold and silver near recent lows, and spiked even more dramatically beginning June 27th with speculation that a Greek default was imminent, major mints and distributors are still acquiring and shipping large quantities of bullion in what we would describe as normal with current market conditions.
Read More…


Capitalism Has Become Socially Dysfunctional

by Michael Nevradakis, Truth-Out:

John Perkins, author of Confessions of an Economic Hit Man, discusses how Greece and other eurozone countries have become the new victims of “economic hit men.”
John Perkins is no stranger to making confessions. His well-known book, Confessions of an Economic Hit Man, revealed how international organizations such as the International Monetary Fund (IMF) and the World Bank, while publicly professing to “save” suffering countries and economies, instead pull a bait-and-switch on their governments: promising startling growth, gleaming new infrastructure projects and a future of economic prosperity – all of which would occur if those countries borrow huge loans from those organizations. Far from achieving runaway economic growth and success, however, these countries instead fall victim to a crippling and unsustainable debt burden.
That’s where the “economic hit men” come in: seemingly ordinary men, with ordinary backgrounds, who travel to these countries and impose the harsh austerity policies prescribed by the IMF and World Bank as “solutions” to the economic hardship they are now experiencing. Men like Perkins were trained to squeeze every last drop of wealth and resources from these sputtering economies, and continue to do so to this day. In this interview, which aired on Dialogos Radio, Perkins talks about how Greece and the eurozone have become the new victims of such “economic hit men.”
Read More @ Truth-out.org


ECB is Trying to Create CHAOS & FEAR in Greek Population

from RT:



In Greece, where the people have voted in a historic referendum on whether or not to accept the creditors’ bailout terms. For more: RT’s Ilya Petrenko, who’s in the Greek capital right now after polls have closed.



Marine Le Pen, Anti Euro French Presidential Frontrunner, Applauds Greek Victory Over "EU Oligarchy"

"This 'No' from the Greek people must pave the way for a healthy new approach," said Marine Le Pen.  "European countries should take advantage of this event to gather around the negotiating table, take stock of the failure of the euro and austerity, and organize the dissolution of the single currency system, which is needed to get back to real growth, employment and debt reduction."




Trillion-Dollar Asset Managers Warn On Greece Fallout: "No Blueprint" Means "All Kinds Of Uncertainty"

“If all of a sudden one member leaves, it creates a precedent, and maybe suddenly casts some doubt on the long-term future of the monetary union.”
“There is no blueprint for how a country exits the euro and redenominates [and] that’s going to create all kinds of uncertainty in Europe.”


Austrians Sign Petition to Leave European Union

by Joshua Krause, Activist Post:
With the financial crisis in Greece reaching a fevered pitch, many have wondered what might happen to the European Union if their most debt-riddled member jumps ship. Will it cause a domino effect of defaulting nations, equally interested in leaving this unnatural union? It’s hard to say how it all might pan out, but it’s important to note that anti-EU rhetoric isn’t limited to Greece. Calls to leave the Union are being heard in unexpected places.
Over 260,000 Austrians have signed a petition calling for the EU exit for the country, and now the Austrian parliament must discuss a referendum on the issue.
Overall, the 261,159 people who signed the petition represent 4.12 percent of the electorate.
The petition was most popular in the regions of Lower Austria (where 5.18 percent of potential voters signed it) and in Carinthia (4.85 percent).
Read More @ ActivistPost.com


Greece Votes, Media Manipulates #OXI

WeAreChange:



Luke Rudkowski gives you a real picture to what’s happening on the ground in Greece. We cover the Greek mainstream media bias against the NO OXI voters and uncover details that you will not hear anywhere else.


ECB is Trying to Create CHAOS & FEAR in Greek Population

from RT:



In Greece, where the people have voted in a historic referendum on whether or not to accept the creditors’ bailout terms. For more: RT’s Ilya Petrenko, who’s in the Greek capital right now after polls have closed.


RE-POSTING: The HORRIBLE TRUTH About the World’s Nuclear Program

They feared a Demonic chain reaction.
Hollands Glorie:






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