Greyerz – Worldwide Package Coming From Fed, ECB & IMF

from KingWorldNews:

On the heels of Spain asking for $125 billion to bail out their collapsing banking system, today Egon von Greyerz told King World News, “There will be a massive worldwide package coming out between the Fed, the ECB, the IMF and other central banks.” Egon von Greyerz is founder and managing partner at Matterhorn Asset Management out of Switzerland. Von Greyerz also said the money printing is “imminent.” Here is what Greyerz had to say about the unfolding crisis: “As I see things, we are on the road to perdition. Eric, there is no exit strategy for the world (to get) out of these problems. There is no solution. If you look at what happened in 2008, people thought that was bad, but what’s going to happen, starting this year and in the next few years, will make 2008 look like a small rehearsal because the real collapse is going to start now.”
“We’re seeing every week, one domino after the next that is falling. So far they are only smaller dominos such as banks, smaller countries, etc.. No (major) country has fallen, but that will come. Every single economic figure is looking worse. World trade is declining — Chinese exports of steel were down 14% last month, US exports to the eurozone were down 5% last month and that is likely to increase to minus 20% if not more.
Egon von Greyerz continues @ KingWorldNews.com

 

 

Here They Come: Ireland Demands Renegotiation Of Its Bailout Terms To Match Spain

Well that didn't take long. The ink on the #Spailout is not dry yet (well technically there is no ink, because none of the actual details of the Spanish banking system rescue are even remotely known, and likely won't be because when it comes to answering where the money comes from there simply is no answer) and we already have an answer to one of our questions. Recall that mere hours ago we asked: "We also wonder how will Ireland feel knowing that it has to suffer under backbreaking austerity in exchange for Troika generosity, while Spain gets away scott free." We now know. From the AFP: "Ireland wants to renegotiate its rescue plan to benefit from the same treatment as Spain, which looks set to win a bailout for its banks without any broader economic reforms in return, European sources said on Saturday." And with Ireland on the renegotiation train, next comes Greece. Only with Greece the wheels for a bailout overhaul are already in motion and are called a "vote of Syriza on June 17." And remember how everyone was threatening the Greeks with the 10th circle of hell if they dare to renegotiate the memorandum? Well, Spain just showed that a condition-free bailout is an option. Which means Syriza will get all the votes it needs and then some with promises of a consequence free bailout renegotiation. In other words Syriza's Tsipras should send a bottle of the finest champagne to de Guindos - he just won him the election.

10 Things That We Can Learn About Shortages And Preparation From The Economic Collapse In Greece

by Michael Snyder, SHTFPlan:
When the economy of a nation collapses, almost everything changes. Unfortunately, most people have never been through anything like that, so it can be difficult to know how to prepare. For those that are busy preparing for the coming global financial collapse, there is a lot to be learned from the economic depression that is happening right now in Greece. Essentially, what Greece is experiencing is a low level economic collapse. Unemployment is absolutely rampant and poverty is rapidly spreading, but the good news for Greece is that the global financial system is still operating somewhat normally and they are getting some financial assistance from the outside.
Read More @ SHTFPlan.com

Things That Make You Go Hmmm

By Grant Williams Scribd:
The first ten pages of this 27-page report is all about gold and gold stocks. The author, Grant Williams of Vulpes Investment Management in Singapore, understands the inner workings of the gold market completely…as the list of gold commentators he says that you should listen to includes just about everyone in the gold price management camp…and the ones you shouldn’t listen to are all “the usual suspects”. ~Ed Steer, Casey Research
[Ed. note: The report will open in Scribd, which is similar to a pdf.]
Click here to Read the latest Report

 

Steve Keen: Why 2012 Is Shaping Up To Be A Particularly Ugly Year

At the high level, our global economic plight is quite simple to understand says noted Australian deflationist Steve Keen.  Banks began lending money at a faster rate than the global economy grew, and we're now at the turning point where we simply have run out of new borrowers for the ever-growing debt the system has become addicted to. Once borrowers start eschewing rather than seeking debt, asset prices begin to fall -- which in turn makes these same people want to liquidate their holdings, which puts further downward pressure on asset prices.

Peter Schiff At The MoneyShow Las Vegas 2012 – Recovery Fever Speech

from JB3DProductions:

Spain IS Greece After All: Here Are The Main Outstanding Items Following The Spanish Bailout

After two years of denials, we finally have the right answer: Spain IS Greece. Only much bigger (it is also the US, although while the US TARP was $700 billion or 5% of then GDP, the just announced Spanish tarp is 10% of Spanish GDP, so technically Spain is 2x the US). So now that the European bailout has moved from Greece, Ireland and Portugal on to the big one, Spain, here are the key outstanding questions.

Damn the Torpedoes

By: Peter Schiff , Gold Seek:

Last week in an interview on CBS Network News, Economist Mark Zandi, the chief economist for Moody’s, unwittingly revealed a central error of the global economic establishment. Zandi has made a career out of finding the middle ground between republican and democrat economic talking points. As a result of this skill, he has been rewarded with large quantities of airtime from media outlets that want to appear non-partisan, despite the fact that his supposedly neutral analysis often leaves listeners frustrated.
When asked about the recent deterioration in the global economy, Zandi said that “the worst possible scenario” at present would occur if Greece were to leave the Eurozone. He claimed that the economic gyrations and liquidations of bad debt that would result from such an exit would be sufficient to create a vicious cycle that could drag the global economy back into recession. As a result, he urged policy makers to take whatever steps necessary to maintain the current integrity of the 17 nation Eurozone.
Given what most economists now know, few would actively argue that Greece’s entrance into the Eurozone back in 2001 was a good idea. In fact most concede it was a terrible idea based on bad forecasting and outright fraud.
Read More @ GoldSeek.com

China rate cut sparks fears of grim May data

by Nick Edwards, Reuters:

Global cheers over China’s decision to cut interest rates faded on Friday as investors and economists worried that the move signaled the impending release of grim economic data.
China’s surprise rate cut unveiled on Thursday boosted hopes that cheaper credit would help combat its faltering economic growth, and it encouraged global share markets in their belief that the major economies were stepping up stimulus.
But the central bank’s cut, the first since the global financial crisis in late 2008, also raised concerns the economy may be weaker than previously thought.
Read More @ Reuters.com


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China and Russia flex muscle at the West

By Brendan O’Reilly, Asia Times.com:
Beijing and Moscow will send a clear message to the world at the ongoing Shanghai Cooperation Organization (SCO) summit. The leaderships of China and Russia have drawn two lines in the sand – an unequivocal “No” to bombing Iran, and another unambiguous “No” to regime change in Syria brought about through a Western bombing campaign.
Russian President Vladimir Putin arrived in Beijing yesterday to start his first overseas visit after he was elected as the Russian leader again, which highlights the importance he attaches to his country’s relations with China. And in Beijing, no less, he is scheduled to hold talks with his Iranian counterpart, Mahmud Ahmadinejad. This is indicative of the joint Russian and Chinese geopolitical strategy.
Chinese foreign ministry spokesman Liu Wenmin spelled out the shared Russian and Chinese viewpoint on the ongoing crisis in Syria:
“On the Syrian issue, China and Russia have stayed in close communication and coordination both in New York, Moscow and Beijing … The position of both sides is clear to all – there should be an immediate end to violence and the political dialogue process should be launched as soon as possible”.
Read More @ ATimes.com

Pavlovian

by Doug Noland, PrudentBear.com:
Global systemic stress has been gaining critical momentum, and markets this week were heartened that global policymakers were in the process of mustering meaningful responses. Scores of headlines offered encouragement that European officials were working diligently on a plan to help Spain resolve its banking crisis. While reports were conflicting – and often contradictory – there was a general sense that circumstances had forced the Germans into a softer approach. And as global markets rallied, the fallback view again held sway that when global policymakers recognize the seriousness of a situation they will surely act accordingly – and, as such, “risk on” is alive if not well. Pavlovian.
Confidence in politicians may be rather shallow, yet there remains deep faith in the capacity of central bankers to rise to the occasion and bolster global risk markets. First came comments from ECB president Mario Draghi: “We monitor all developments closely and we stand ready to act.” Fed vice chair Janet Yellen made it clear the Fed was poised to do more: “There are a number of significant downside risks to the economic outlook, and hence it may well be appropriate to insure against adverse shocks that could push the economy into territory where self-reinforcing downward spiral of economic weakness would be difficult to arrest… I am convinced that scope remains for [the Federal Reserve] to provide further policy accommodation either through its forward guidance or through additional balance-sheet actions.”
Read More @ PrudentBear.com

Obama’s data advantage

by Lois Romano, Politico:
On the sixth floor of a sleek office building here, more than 150 techies are quietly peeling back the layers of your life. They know what you read and where you shop, what kind of work you do and who you count as friends. They also know who your mother voted for in the last election.
The depth and breadth of the Obama campaign’s 2012 digital operation — from data mining to online organizing — reaches so far beyond anything politics has ever seen, experts maintain, that it could impact the outcome of a close presidential election. It makes the president’s much-heralded 2008 social media juggernaut — which raised half billion dollars and revolutionized politics — look like cavemen with stone tablets.
Mitt Romney indeed is ramping up his digital effort after a debilitating primary and, for sure, the notion that Democrats have a monopoly on cutting edge technology no longer holds water.
Read More @ Politico

10 Failed Attempts by the Government to Control the Internet

by Christine Kane, Activist Post
The topic that was dangling at the forefront of most American’s minds at the end of 2011, and even seeping into the beginning of 2012, was the fate of the Internet.
The Stop Online Piracy Act, discussed further below, whipped citizens into a frenzy and led to the largest Internet-based protest to date.
In light of a slightly-reworked, renamed SOPA’s emergence, it is worth reviewing ten failed attempts by the American government to control the Internet.
1. Communications Decency Act (1996)…
2. Child Online Protection Act (1998)…
Read More @ Activist Post

Hey, Rand Paul … Welcome to the Internet Reformation

from Anthony Wile, The Daily Bell:
“A year, year and a half ago, I was a physician in a small town,” Paul, the junior Republican senator from Kentucky, told CNN‘s Don Lemon. “And it would be a great honor to be considered as a vice president for the Republican Party. I think that would be something that anybody who said otherwise would not be being truthful.” – CNN
Rand Paul keeps making news – bombshell after bombshell.
Just yesterday, CNN ran an article quoting Rand Paul as saying, “it would be a great honor to be considered as a vice president for the Republican Party. I think that would be something that anybody who said otherwise would not be truthful.”
So Rand Paul is open to becoming Mitt Romney‘s running mate?
Read More @ TheDailyBell.com

Mr. Schiff Returns to Washington

from SchiffReport:

Does Washington have the American taxpayers’ interests as their top priority? Watch as lobbyists drown out your voice and Peter fights the tide.

Future ‘VP?’ Rand Paul Comprimized by NWO Puppets Robama aka Obomney? Time4Real 3rd Party?

from women4truth:

Starting at 4:50 -
Romney: “Well, you know, I think Ben Bernanke is a, a, a student of, of monetary policy…I think he’s doing a good job…He’s a pretty skilled expert at dealing with recessions and depressions and studying how you avoid depressions.”

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