by Jeff Berwick, Dollar Vigilante:
The Independent newspaper (UK) has a revealing article about wealthy
Greeks and their current unease about Greece’s near-bankruptcy: “The
wealthy citizens of Glyfada are worried – and plotting their escape.”
It is actually a sad article, showing quite clearly that many Greeks may have waited too long. They’re nervous about bank closures and capital controls – but as they have not planned well, it may soon be too late for them to escape the consequences of their procrastination.
One reads articles like this with a certain puzzlement. These are intelligent and wealthy people but they seem to have lived in some kind of bubble. The article states it well:
Read More @ Dollarvigilante.com
The Independent newspaper (UK) has a revealing article about wealthy
Greeks and their current unease about Greece’s near-bankruptcy: “The
wealthy citizens of Glyfada are worried – and plotting their escape.”It is actually a sad article, showing quite clearly that many Greeks may have waited too long. They’re nervous about bank closures and capital controls – but as they have not planned well, it may soon be too late for them to escape the consequences of their procrastination.
One reads articles like this with a certain puzzlement. These are intelligent and wealthy people but they seem to have lived in some kind of bubble. The article states it well:
Read More @ Dollarvigilante.com
Pay Attention Greece: Puerto Rico Refuses To Pay Creditors Before It Fully Funds Its Citizens' Needs
Submitted by Tyler Durden on 07/20/2015 - 19:49 We hope the Greek government is watching and learning, and taking appropriate measures so that it too can, at least once, prioritize its own people's needs over those of a global banking oligarchy.
The Greek Economy Is Finished! A Quarter Of Firms Shifting Abroad
Submitted by Tyler Durden on 07/20/2015 - 22:00 Capital controls imposed by the Greek government are taking a heavy toll on Greek businesses, according to a new report from Endeavour Greece. With over two-thirds of respondents reporting a "significant drop in revenues," and 1 in 9 firms forced to suspend production due to shortages of raw materials (unable to buy due to capital controls), the problems created by The Greek government's action seem asymmetric as almost a quarter (23%) of firms are now "planning to transfer their headquarters abroad for security, cashflow, and stability reasons."Martin Armstrong: "Little By Little These People Are Destroying Everything That Made Society Function"
Submitted by Tyler Durden on 07/20/2015 - 17:10 "We seriously need to hit the Cntrl-Alt-Delete button on government. This is total insanity and we are losing absolutely everything that made society function. Once they eliminate CASH, they will have total control over who can buy or sell anything."
What Happened The Last Time The Mainstream Media Unleashed The Anti-Gold Artillery
Submitted by Tyler Durden on 07/20/2015 - 16:45
With the mainstream media onslaught against precious metals climaxing this weekend as WSJ's Jason Zweig proclaimed gold "like a pet rock," describing owning gold as "an act of faith," we
thought it worthwhile looking back at the last time 'everyone' was
slamming gold and entirely enthused by the omnipotence of central
bankers... May 4th, 1999 - "Who Needs Gold When We Have Greenspan?"
from KingWorldNews:
John Embry:
“Last week’s action and mainstream commentary was very negative with
respect to gold. Then on Friday came the utterly bogus Chinese
announcement about their reserve position, and KWN had some excellent
comments from people who understand that situation very well.
So when the market was opened in the Far-East last night, $2.7 billion worth of paper contracts were sold in two minutes. Not surprisingly the gold price dropped almost $50 instantaneously….
“When you sell 30 percent of annual mine production in two minutes, it tends to have a rather dramatic price impact.
John Embry Continues @ KingWorldNews.com
John Embry:
“Last week’s action and mainstream commentary was very negative with
respect to gold. Then on Friday came the utterly bogus Chinese
announcement about their reserve position, and KWN had some excellent
comments from people who understand that situation very well.So when the market was opened in the Far-East last night, $2.7 billion worth of paper contracts were sold in two minutes. Not surprisingly the gold price dropped almost $50 instantaneously….
“When you sell 30 percent of annual mine production in two minutes, it tends to have a rather dramatic price impact.
John Embry Continues @ KingWorldNews.com
42 Billion Reasons Why Putin's Time May Be Running Out
Submitted by Tyler Durden on 07/20/2015 - 19:30 Russian municipal bond risk is surging once again (at 6-week highs) heading towards crisis-levels as Bloomberg reports numerous regions (including Chukotka - across from Alaska, Belgorod -near Ukraine, and three North Caucus republics) are prompting concerns as debt-to-revenue levels top 100% (144% in the case of Chukotka). The clock is ticking for President Vladimir Putin to defuse a situation he set off in 2012 with decrees to raise social spending. That contributed to a doubling in the debt load of Russia’s more than 80 regions to 2.4 trillion rubles ($42 billion) in the past five years and it all rolls within the next two to three years.filed under dumb (unt
Sen. Dianne Feinstein (D-Calif.), the top Democrat on the Senate
Intelligence Committee, says the U.S. has sent investigators to Jordan
to find out what may have radicalized Mohammad Youssuf Abdulazeez, the
24-year-old Kuwait-born Muslim who shot up two military recruiting
offices in Chattanooga last week, killing five U.S. Marines.“In my view, based on what I know so far, this is a classic lone-wolf terrorist attack,” Feinstein told CBS’s “Face the Nation” with John Dickerson.
“Last year, 2014, ISIL — or Da’esh, as they say it in the area — put out a call for people to kill military people, police officers, government officials, and do so on their own, not wait for direction. It could well be that this is that case. Here is somebody who had guns, who knew how to use them, who may have been aggrieved by one thing or another.”
Read More @ CNSnews.com
Desperate California Farmers Turn To "Water Witches" As Drought Deepens
Submitted by Tyler Durden on 07/20/2015 - 19:00 You know it's bad when... With most of California experiencing "extreme to exceptional drought," and the crisis now in its fourth year, state officials recently unleashed the first cutback to farmers' water rights since 1977, ordering cities and towns to cut water use by as much as 36%. With the drought showing no sign of letting up any time soon, and the state’s agricultural industry suffering (a recent study by UC Davis projected that the drought would cost California’s economy $2.7 billion in 2015 alone), Yahoo reports farmers have begun desperately turning to "water witches" who "dowse" for water sources using rods and sticks.
California Regulators Slap Farmers With Record $1.5 Million "Water-Taking" Fine
Submitted by Tyler Durden on 07/20/2015 - 16:48 In what seems a lot like a strawman for just how much they can pressure the population, AP reports California water regulators proposed a first-of-its-kind, $1.5 million fine for a group of Central Valley farmers accused of illegally taking water during the drought. This would be the first such fine for holders of California's oldest (most senior) claims to water, and follows suits from the farmers to the government arguing their 'law changes' are illegal.I'm going to buy one...just to piss off the Idiots...
by Steve Watson, Infowars:
Stores are reporting that sales of Confederate
Rebel flags have shot up, with some claiming that they are selling 500
times more than what they were before the corporate media driven flap
over the symbol.
As government and perpetually offended Americans
have continued to call for banning anything remotely connected to the
flag, retailers have noted that it is having the exact opposite effect,
and making it exponentially MORE popular.
“It’s 500 times what it was, without exaggerating,” says Dave Nippert of Lou’s Wholesale. “We could’ve done well marketing nothing but Rebel stuff.”
Read More @ Infowars.com
Liquidity Is "Thin To Zero": Worried Bond Managers Shrink Trades, Dodge Cash Markets
Submitted by Tyler Durden on 07/20/2015 - 18:30 "We really want to stay away from positions we can’t get out of"...
Why America's First National Supermarket Chain Just Filed For Bankruptcy, Again
Submitted by Tyler Durden on 07/20/2015 - 17:55 If the US economy is truly firing on all four cylinders, then how are events such as the repeat bankruptcy of America's first national supermarket chain, supposed to happen?
95% Of The Real Estate Market In Greece Is "All Cash"
Submitted by Tyler Durden on 07/20/2015 - 17:29 "At least 50% of real estate agents have closed down.""The market is only those who can afford to pay cash."
Trump Lead Surges In Polls, Again
Submitted by Tyler Durden on 07/20/2015 - 17:28 Since last week's FOX News poll, Donald Trump has extended his gains dramatically in the race to be GOP Presidential nominee. According to ABC-Washington Post latest poll, 24% of Republicans prefer Trump (up from 18% last week) with Scott Walker nudging ahead of Jeb Bush. Notably the poll was taken from Thursday to Sunday and so does include some reaction from Trump's McCain comments...
IBM Revenue Collapse Is Now Worse Than During Peak Of The Financial Crisis
Submitted by Tyler Durden on 07/20/2015 - 16:23 The reason IBM stock is currently sliding and dragging down the broader Dow Jones future with it is that with Q2 revenues of $20.8 billion, the company not only missed expectations, but was a plunge of 13.4% from a year ago: a drop that surpasses the biggest revenue drop recorded during the peak of the financial crisis! This is also 13 consecutive quarter of declining Y/Y revenues.
$550 Million Gold Futures Notional Dumped After Close - Back Below $1100
Submitted by Tyler Durden on 07/20/2015 - 16:15 Minutes after the cash equity close, gold prices tumbled, having leaked lower all afternoon, breaking back below $1100. Overnight flash crash lows were $1080.
from Global Research:
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 @ Globalresearch.ca
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 @ Globalresearch.ca
Commodities Plunging To 2002 Level Sends "Investors" Rushing To Safety Of Overpriced Tech Megacaps
Submitted by Tyler Durden on 07/20/2015 - 16:02
When it comes to sleuthing out how Wall Street has gamed the laws,
conned the regulators and colluded to corrupt the whole financial
system, there is no one in Congress sharper-eyed or more outspoken than
Senator Elizabeth Warren, who is also exceptionally well-qualified to
lead this Wall Street posse.Warren was a commercial law professor at Harvard for more than 20 years. She is widely credited with facilitating the creation of the Consumer Financial Protection Bureau (CFPB) to protect consumers from the insidious rip-offs in mortgages, credit cards, student loans and other financial products.
On July 7 of this year, Warren, together with fellow Senators John McCain, Bernie Sanders, Angus King, and Maria Cantwell, introduced the “21st Century Glass-Steagall Act of 2015,” (S.1709) legislation to separate insured, deposit-taking banks from Wall Street’s investment banks, brokerage firms, market makers, and hedge funds.
Read More @ WallStreetonParade.com
by Brandon Turbeville, Activist Post:
I have argued from the very beginning
of the US-Iran nuclear talks that the diplomacy taking place was
nothing more than theatre to be used later in the rush to war as
evidence that the US did “everything in its power” to avoid
confrontation.
Considering the years of propaganda surrounding Iran and its nuclear program, it should be clear that the recent US-Iran nuclear deal was nothing more than a show. After all, the US/NATO imperialist machine has made its desire to wage war on the Persian nation explicit for some time. The only question is just how long this theatre will last before that goal is finally realized.
Read More @ ActivistPost.com
I have argued from the very beginning
of the US-Iran nuclear talks that the diplomacy taking place was
nothing more than theatre to be used later in the rush to war as
evidence that the US did “everything in its power” to avoid
confrontation. Considering the years of propaganda surrounding Iran and its nuclear program, it should be clear that the recent US-Iran nuclear deal was nothing more than a show. After all, the US/NATO imperialist machine has made its desire to wage war on the Persian nation explicit for some time. The only question is just how long this theatre will last before that goal is finally realized.
Read More @ ActivistPost.com
from TheAlexJonesChannel:
by John Rubino, Dollar Collapse:
Sprott Asset Management’s Rick Rule is one of the smartest guys in the
resource investing world — and one of the most reasonable — which has
made his interviews of the past few years a little disconcerting. Along
with the obligatory positive thoughts on the long-term value of gold and
silver and the resulting bright future for the best precious metals
miners, he always points out that the sector hasn’t yet endured a
capitulation, where everyone just gives up and sells at any price,
tanking prices and setting the stage for the next bull market.
Knowing that this kind of existential crisis is still out there has taken the fun out of buying ever-cheaper mining stocks, which of course has been Rule’s point. Just because something is cheap doesn’t mean it can’t get a lot cheaper before its bear market is done.
Read More @ DollarCollapse.com
Sprott Asset Management’s Rick Rule is one of the smartest guys in the
resource investing world — and one of the most reasonable — which has
made his interviews of the past few years a little disconcerting. Along
with the obligatory positive thoughts on the long-term value of gold and
silver and the resulting bright future for the best precious metals
miners, he always points out that the sector hasn’t yet endured a
capitulation, where everyone just gives up and sells at any price,
tanking prices and setting the stage for the next bull market.Knowing that this kind of existential crisis is still out there has taken the fun out of buying ever-cheaper mining stocks, which of course has been Rule’s point. Just because something is cheap doesn’t mean it can’t get a lot cheaper before its bear market is done.
Read More @ DollarCollapse.com
"The Spell Is Broken" In China, Selling Pressure To Remain "Relentless": BofAML
Submitted by Tyler Durden on 07/20/2015 - 20:15
"Now
that the spell is broken, we expect that many holders may want to sell
to the forced buyers in the market. In addition, although difficult to
assess accurately, due to a lack of data, we estimate that around 1/5 of
the free float is still carried on margin. The high margin cost means
that selling pressure is high as long as investors do not expect the
market to go up significantly.we expect the market to experience another
leg down, possibly within months."from TruthNeverTold:
If you're Fucked and you know it, clap your hands (clap clap)
If you're Fucked and you know it, clap your hands (clap clap)
If you're Fucked and you know it, then your face will surely show it...
If you're Fucked and you know it, clap your hands. (clap clap)
If you're Fucked and you know it, stomp your feet (stomp stomp)
If you're Fucked and you know it, stomp your feet (stomp stomp)
If you're Fucked and you know it, then your face will surely show it...
If you're Fucked and you know it, stomp your feet. (stomp stomp)
If you're Fucked and you know it, shout "I'm Fucked!" (I'm-Fucked!)
If you're Fucked and you know it, shout "I'm Fucked!" (I'm-Fucked!)
If you're Fucked and you know it, then your face will surely show it...
If you're Fucked and you know it, shout "I'm-Fucked!" (I'm-Fucked!)
If you're Fucked and you know it, do all three (clap-clap, stomp-stomp, I'm-Fucked!)
If you're Fucked and you know it, do all three (clap-clap, stomp-stomp, I'm-Fucked!)
If you're Fucked and you know it, then your face will surely show it...
If you're Fucked and you know it, do all three. (clap-clap, stomp-stomp, I'm-Fucked!)
/
![[Most Recent Quotes from www.kitco.com]](http://www.kitconet.com/charts/metals/gold/t24_au_en_usoz_2.gif)
![[Most Recent Quotes from www.kitco.com]](http://www.kitconet.com/charts/metals/silver/t24_ag_en_usoz_2.gif)
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