The Coming Economic Collapse, Currency Induced Cost Push Inflation/Hyperinflation, Weimar Germany, Euro Collapse,
Zimbabwe Hyperinflation, Survival in Economic Collapse, World Economic Collapse, Dollar Collapse,
What Would Happen If the Economy Collapsed,The Coming Economic Depression.
Gold and Silver Will Protect Your Wealth.
In a perilous replay of the Spanish bank "bailout", the proxy for
bailout sentiment, the EURUSD pair, was up 61 pips to just under
1.2700... and that's it. Naturally, if the world suddenly thought Europe
was "fixed", Spain notwithstanding, one would imagine the reaction by
the FX market would be just a little more invigorated than merely
confirming that what is playing out (namely the lack of a definitive
Greek government) has already been priced in. And yet here we are...
It is "no government" in Greece for the moment, playing chicken over
the bailout terms, playing chicken over new money for Greece as their
economy continues to deteriorate and as they amount they owe now, much
less any new money, cannot be paid back under any scenario that anyone
can concoct. The headlines may well drive the markets' reaction briefly
but "watch out below" will be what takes hold as it must because that
assumption is based upon facts and not hype.
As reported in the previous post, the Greek PASOK party of former PM
G-Pap may have thrown a grenade into coalition discussion, following an
announcement by Katerina Diamantopoulou that Pasok will not join into a
coalition government with ND unless Syriza also joins said coalition.
Which Syriza stated moments ago it would not do. The
question then comes whether ND can form a government (150+ seats) with
any of the other remaining parties (up to and including neo-nazi New
Dawn or the communists... why is there no Pirate party in Greece?). The
answer is most likely not, but not before some serious horse trading
shows that the second Greek elections has achieved nothing, and the
world now has to look forward to a 3rd Greek election round, some time
in August, and then another, and then another, until no more assets are
left to be plundered from the state which will have no head for a long
time. Incidentally, just as we predicted on May 3 in "Previewing The First Of Many Greek Elections"
While everyone else is focusing on the Greek elections, the REAL issues
pertaining to the EU (namely where the funding for Spain’s bailout as
well as future bailouts will come from)...
On Friday, the Russian General Staff announced it will send warships
from the Black Sea Fleet to the Syrian coast. The deployment will
protect the Russian logistics base in Tartus, Syria.
Russia has historically maintained a strong bilateral relationship
with Syria. Its only Mediterranean naval base for the Black Sea Fleet is
located in the port of Tartus.
“Several warships of the Russian Black Sea Fleet, including large
landing ships with marines aboard, are fully prepared to go on the
voyage,” the General Staff told Itar-Tass.
In late May, Russian and Western media reported that the
Russian-flagged bulk cargo vessel Professor Katsman docked at the Syrian
port of Tartus and delivered weapons to the al-Assad regime. The Ford
Foundation funded NGO Human Rights First also made the claim. Amnesty International, a Soros funded NGO,
has called on the Russian government to cease the transfer of arms to
Syria in compliance with UN Security Council recommendations.
“Either the U.S. intelligence service works poorly or they have a
poor knowledge of geography,” a source with the Russian General Staff
remarked in response to the allegation. Read More @ InfoWars.com
by Peter Ferrara, Forbes:
The U.S. has never before had a President who thinks so little of the
American people that he imagines he can win re-election running on the
opposite of reality. But that is the reality of President Obama today.
Waving a planted press commentary, Obama recently claimed on the
campaign stump, “federal spending since I took office has risen at the
slowest pace of any President in almost 60 years.”
Peggy Noonan aptly summarized in last weekend’s Wall Street Journal
the take away by the still holding majority of Americans living in the
real world:
“There is, now, a house-of-cards feel about this
administration. It became apparent some weeks ago when the President
talked on the stump – where else? – about an essay by a fellow who said
spending growth [under Obama] is actually lower than that of previous
Presidents. This was startling to a lot of people, who looked into it
and found the man had left out most spending from 2009, the first year
of Mr. Obama’s Presidency. People sneered: The President was
deliberately using a misleading argument to paint a false picture! But
you know, why would he go out there waiving an article that could
immediately be debunked? Maybe because he thought it was true. That’s
more alarming, isn’t it, the idea that he knows so little about the
effects of his own economic program that he thinks he really is a low
spender.”
by Victor Davis Hanson, National Review Legally, President Obama has reiterated the principle that he can pick and choose which U.S. laws he wishes to enforce
(see his decision to reverse the order of the Chrysler creditors, his
decision not to enforce the Defense of Marriage Act, and his
administration’s contempt for national-security confidentiality and
Senate and House subpoenas to the attorney general). If one individual
can decide to exempt nearly a million residents from the law — when he
most certainly could not get the law amended or repealed through proper
legislative or judicial action — then what can he not do? Obama is
turning out to be the most subversive chief executive in terms of
eroding U.S. law since Richard Nixon.
Politically, Obama calculates that some polls showing the current
likely Hispanic support for him in the high 50s or low 60s would not
provide enough of a margin in critical states such as Nevada, New
Mexico, and Colorado, or perhaps also in Florida and Virginia, to
counteract the growing slippage of the independent vote and the energy
of the clinger/tea-party activists. Thus, what was not legal or
advisable in 2009, 2010, or 2011, suddenly has become critical in
mid-2012. No doubt free green cards will quickly lead to citizenship and
a million new voters. Will it work politically? Read More @ NationalReview.com
by Jim Sinclair, JS Mineset: Dear CIGAs,
Have you had enough of the manipulation of your gold and silver
shares? The more noise we make the closer we come to getting the light
shined on these evil people.
Complain about the raids of your investments by short sellers if you have witnessed it. Hi Jim,
Looking at quite a few issues this afternoon, this same phenomenon
occurred with huge volumes right at the close or even trading after the
close. THIS is the biggest, most blatant and in your face manipulation
since this whole fiasco started. I entered the PM arena in 1998 and
thought that I had seen it all. Apparently not! Of course, we will not
hear anything from the regulators but we must yell louder and louder. To
suffer in silence is madness and cowardly.
CIGA Bill Read More @ JSMineset.com
Greece chooses austerity over Euro withdrawal, as latest exit polls suggest voters back pro bail-out parties By Craig Mackenzie and Tom Gardner PUBLISHED: 08:25 GMT, 17 June 2012 | UPDATED: 20:27 GMT, 17 June 2012
Exit polls predict no out-right winner of Greek election
Parties pledged to keeping Greece in Eurozone appear to have enough votes to form coalition
Conservative New Democracy party set to win 30.5per cent of vote
or 129 or parliament’s 300 seats with leader proposing unity government
Anti-austerity radical leftist party SYRIZA came second gaining huge support with 26 per cent of the vote
Leader of prospective third placed socialist PASOK proposes
coalition government of four top parties – including anti-bailout
radical left
But good news… Greece beat Russia at Euro championship
Bad news… they may face favourites Germany in the quarter final
A Eurozone meltdown appears to have been narrowly averted as the
latest Greek election results show voters have backed parties vowing to
keep the country in the single currency. Although no party appears to have won enough seats in today’s
election to form a new Greek government on its own, incoming results
indicate the country’s two traditional and pro-Euro parties – New
Democracy and PASOK – will have enough seats to form a coalition
together. But the radical leftist SYRIZA party – which has vowed to tear up
the terms of an EU/IMF bailout package keeping Greece from bankruptcy,
potentially sending the country crashing out of Europe’s single currency
– has gained massive support with the second highest vote. With 37.4 per cent of the vote counted, official results showed
the conservative New Democracy with 30.5 per cent of the vote, ahead of
the radical anti-bailout Syriza party’s 26 per cent and the pro-bailout
socialist PASOK with 12.9 per cent. Leader of the pro-bailout New Democracy Antonis Samaras immediately proposed forming a pro-euro coalition government. He said: ‘The Greek people today voted for Greece to remain on its European path and in the eurozone.’ He added that voters chose ‘policies that will bring jobs, growth, justice and security’. He spoke as leader of second placed Syriza Alexis Tsipras conceded the election. More…
Pro-bailout party declares victory in Greek election – ABC News (Australian Broadcasting Corporation) Updated June 18, 2012 06:50:34 Greece’s centre-right New Democracy party has declared victory
after Sunday’s parliamentary elections, easing fears of a chaotic exit
from the eurozone. Early results had New Democracy winning nearly 30 per cent of the
vote, which would give it 128 seats in the 300-seat parliament because
of a 50-seat boost given to the victor under the Greek electoral system. Coalition talks are now expected to start later today, with the
most likely ally being the socialist Pasok party, which seems to have
won 33 seats. The anti-austerity radical leftist Syriza party came second with
about 26 per cent of the vote after galvanising widespread anger against
the cuts imposed by an unpopular multi-billion bailout deal with the
European Union and the International Monetary Fund. "Today the Greek people expressed their will to stay anchored with
the euro, remain an integral part of the eurozone, honour the country’s
commitments, and foster growth," New Democracy leader Antonis Samaras
said this morning. "This is a victory for all Europe. More…
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On Friday, the Russian General Staff announced it will send warships
from the Black Sea Fleet to the Syrian coast. The deployment will
protect the Russian logistics base in Tartus, Syria.
The U.S. has never before had a President who thinks so little of the
American people that he imagines he can win re-election running on the
opposite of reality. But that is the reality of President Obama today.
Legally, President Obama has reiterated the principle that he can pick and choose which U.S. laws he wishes to enforce
(see his decision to reverse the order of the Chrysler creditors, his
decision not to enforce the Defense of Marriage Act, and his
administration’s contempt for national-security confidentiality and
Senate and House subpoenas to the attorney general). If one individual
can decide to exempt nearly a million residents from the law — when he
most certainly could not get the law amended or repealed through proper
legislative or judicial action — then what can he not do? Obama is
turning out to be the most subversive chief executive in terms of
eroding U.S. law since Richard Nixon.
Dear CIGAs,
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