Destitution and Hunger In Greek Prisons: “Not Even One Grain of Rice Left In Warehouses”

from The Daily Sheeple:

All indications suggest that basic services in Greece have begun to break down, with reports from several Greek prisons and military installations indicating that prisoners are malnourished and starving. Food shortages caused by austerity related spending cuts and truck stoppages are also reportedly reducing daily rations for soldiers stationed in the area of Corinth, Greece.
We may very well be seeing the cracks in a society on the verge of complete meltdown.

At a time when the entire country is being tested by the economic crisis, some people are quite literally on the verge of destitution and hunger. At a time when the empty state coffers can not support any concept of a welfare state, with “frozen” financing towards education and health, the prison system could not be an exception.
The financing for many prisons has decreased to a minimum for some months now, resulting in hundreds of detainees being malnourished and surviving on the charity of local communities…

Read More @ TheDailySheeple.com

Greek Power Regulator Calls Emergency Meeting to Avert Collapse of Power Grid and Natural Gas System

by Mac Slavo, SHTFPlan:

When the political and economic systems of entire nations collapse the consequences are devastating.
Earlier this year pharmacies and hospitals in Greece were unable to provide life saving medicines due to a shortages caused by a freeze in the flow of credit from manufacturers to distributors to patients. A collapse in the country’s economy has forced many Greeks to turn to black market barter economies and has left millions financially devastated, with no hope of finding an income stream for the foreseeable future.
The credit system of the entire country is in shambles. So much so that reports are emerging about food shortages and hunger within the Greek prison system, suggesting that serious problems in the food delivery chain have begun to materialize.
As Nigel Farage warned recently, we are beginning to see the rise of extreme political parties as a consequence of the total and utter desperation of the populace.
Today the news gets even worse. Greece’s Regulatory Authority for Energy (RAE) announced an emergency meeting to deal with what can only be construed as a tell-tale sign that this crisis is very rapidly reaching critical mass and may spiral out of control in the very near future:
Read More @ SHTFPlan.com

Once Again, Here Is The Full Playbook

Two weeks of utter confusion by most market participants out there, when the complete deja vu scenario is so very clear. To help out those banging their heads over what is happening, here, once again, is the full playbook as it was laid out here for eveyone to read and prepare, because it explained to the dot precisely what will happen, and has been happening since May 19. And yes, that 1000 bps on XO is still about 25% away... Do the math.

Debt is Not Wealth

from Azizonomics:

These figures are staggering; the advanced nations typically have between three and ten times as much total debt as they have economic activity. In the United Kingdom — the worst example — if one year’s economic activity was devoted entirely to paying down debt (impossible — people need to eat and drink and pay rent, and of course the United Kingdom continues to add debt) it would take ten years for the debt to be wiped clean.
But the real question is why? Why are both debtors and creditors willing to build a status quo of massive unprecedented debt?
From the side of the creditors, I think the answer is the misconception that debt is wealth. Debt can be used as collateral, or can be securitised and traded on exchanges (which itself can become a form of shadow intermediation, allowing for a form banking outside the accepted regulatory norms).
Read More @ Azizonomics.com

Jim Willie Interviewed: Debt Tower of Babel! Bank Holidays Coming to Euro Zone, London & NY

Silver COT Report (CFTC – Commitment of Traders) for Period 5/23-5/29/2012

…It now appears that the CFTC commissioners are going to white-wash their investigation into silver manipulation and probably not even institute any position limits except maybe on the speculators as Bart Chilton seems convinced there is no manipulation and the massive short positions are bonifide hedge positions.
by Marshall Swing, Silver Doctors:
Commercials picked up 1,270 longs and a smallish 382 shorts to end the week with 46.49% of all open interest, slightly higher than last week, and now stand as a group at -71,670,000 ounces net short, another huge decrease of over 500,000 ounces net short from the previous week. None of the speculators seem to comprehend what these criminals are up to in their strategy to get out of net short positions.
Large speculators got suckered out of a massive -1,519 long contracts and picked up 720 shorts for a net long position of 42,790,000 ounces, a mammoth decrease in their net long position of well over 10,000,000 ounces from the prior week. They are playing right into the commercial’s hand but no one is willing to see what is happening for what it really is and they are greedy so more power to them as they get killed like lambs to the slaughter. I say this every week but no one seems to listen. They will deeply regret these net short positions they are accumulating and they will NEVER be able to sell those positions when the price of silver drops way down because there will be no longs to match them….
Read More @ SilverDoctors.com

The US Economy, Business and President Obama’s Growing Market Prejudice

by Tibor Machan,The Daily Bell:
Daily Bell: You are a most thoughtful analyst of liberty. In this interview we want to delve into freedom, how it works and why it is preferable to the kinds of command-and-control social structures that are so often suggested in this day and age. We want to use your recent editorials as a jumping off point and we’d like to start with the issue of business itself. Why are more and more top business people so disparaging of their own professions and welcoming of government interference?
Tibor Machan: That’s a good question. I’ve written on this in the past. One example that comes to mind is Ted Turner who traveled to Washington to ask Congress to “shove down the throats of broadcasters” a TV violence rating system. Then there’s Donald Trump who not so long ago wanted the government to put a tax on Native American casinos. It didn’t occur to Trump to ask the government to lighten his tax load – or taxes generally. No, he just wanted to extend taxes to a new population!
Turner’s advocacy of government censorship of broadcasting is horrible. He wanted the First Amendment to be voided even though he had built a business around its successful implementation and the protections it provided.
Read More @ TheDailyBell.com

True federal deficit unimaginably larger than official tally

by J. D. Heyes, Natural News:
Just how much in debt is the United States? How much more debt is being added by overspending lawmakers and presidents each year? The answer isn’t what you think, according to a new evaluation of the numbers using a quaint, time-tested concept known as real math.
“Officially,” the federal deficit for fiscal year 2011 was $1.3 trillion, an incredibly huge figure in and of itself. That means, if you believe the administration, that the government only spent $1.3 trillion more than it took in. Incredible.
Funny numbers, but real money
Read More @ NaturalNews.com

Physical Precious Metals Vs. Mining Shares

Gold Reclaims $1,600/Oz After Weak U.S. Jobs Number Ups Expectations For More Fed Easing

from Allen Sykora, KitcoNews:
Anemic U.S. jobs growth has rekindled ideas that the Federal Reserve might eventually undertake further easing measures, sending spot gold back above $1,600 an ounce for the first time in three weeks.
The Labor Department reported early Friday that non-farm payrolls climbed just 69,000 in May, when consensus expectations compiled by various news organizations had been for around 150,000 to 170,000. Further, the number of new jobs was revised downward for each of the two prior months. April jobs gains were reduced to 77,000 from an original estimate of 115,000, while new March jobs are now listed at 143,000 rather than the previously reported 154,000.
Marc Chandler, global head of currency strategy with Brown Brothers Harriman, called the data “shockingly poor” and “simply terrible.”
Read More @ KitcoNews



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