The IMF and US both praised a Eurogroup deal giving Spain a lifeline
of up to €100 bn ($125 billion) to save its stricken banks, with
International Monetary Fund Managing Director Christine Lagarde calling
it a “credible back stop” for the banking system.“I strongly welcome the statement by the Eurogroup, which complements the measures taken by the Spanish authorities in recent weeks to strengthen the banking system,” said Lagarde.
“Providing a credible back stop to recapitalize weaker segments of the banking system has been a key recommendation of the IMF’s recent Financial Sector Assessment Program (FSAP) conducted in Spain,” she said.
Lagarde also had words of praise for the operation’s scope.
“The willingness of Spain’s Euro Area partners to financially support the Fund for Orderly Bank Restructuring (FROB) with up to EUR 100 billion is a crucial step for the success of the Spanish authorities’ strategy,” she said.
Read More @ news.yahoo.com
Details Emerge About Spain's Cramming Down "Bailout" Loan
While details are largely missing in the aftermath of yesterday's historic announcement from Spain, the one thing that we did catch inbetween the various conferences and announcements, and probably the most important thing, is that the ESM/EFSF funded bailout loan, whose use of proceeds will go to fund the FROB, not one which will rank pari passu with the FROB, will have "terms better than market" - always a code word for priming and cramdown of other debt classes. Today, we learn that this is precisely the case, and the worst case outcome from Spain's pre-primed sovereign creditors.U.S. Treasuries Are Biggest Bubble Ever
Admin at Marc Faber Blog - 2 hours ago
Latest video interview, Bloomberg TV.
Related: ProShares UltraShort 20+ Year Trea (ETF) (NYSE:TBT), iShares
Barclays 20+ Yr Treas.Bond (ETF) (NYSE:TLT), iShares Lehman 7-10 Year
Treasury Bond (ETF) (IEF);
*Marc Faber is an international investor known for his uncanny predictions
of the stock market and futures markets around the world.*
If You Are Not Worried About 2013, Please — Get Worried Read more: Jim Rogers: ‘If You Are Not Worried About 2013, Please — Get Worried’
By Charles Carnevale, The Market Oracle:
Introduction: Don’t Sell the US Economy (or the World’s) Short
In the past, I’ve written numerous articles positing a long-term optimistic outlook for both our economy and the attractive future growth prospects of our great American businesses. Even though I hate to forecast the market in general, I have even presented evidence indicating that the general market as represented by the S&P 500 is currently reasonably priced and even slightly undervalued. My most recent contribution can be found here.
Unfortunately, at least in my opinion, optimistic views on our economy and/or our markets are generally met with resistance and even criticism. One of the most common arguments to counter my optimism is the statement by my antagonists that they are realists. Thereby they are implying that my optimism is unrealistic, and moreover, that a pessimistic outlook is more realistic than an optimistic one. Yet, there is a preponderance of supporting evidence for optimism that is both ignored and even refused to be given consideration to.
Read More @ TheMarketOracle.co.uk
by Susanne Posel, Occupy Corporatism:
The UN’s Law of the Sea Treaty (LOST) will deliver American sovereignty and seven-tenths of the world’s surface through allocation of oceans and seas to the UN by way of the entanglement of global bureaucracy.
Over three decades ago, then President Ronald Regan rejected LOST, saying “no national interest of the United States could justify handing sovereign control of two-thirds of the Earth’s surface over to the Third World.”
The writers of LOST want to give the UN power to draw oceanic boundaries to impose environmental regulations and restrict business on the high seas.
LOST would give critical US naval and drilling operational decision making and final word to the UN.
Regan believed LOST was an “effort to promote global government at the expense of sovereign nation states — and most especially the United States.”
Read More @ OccupyCorporatism.com
from Zero Hedge:
Introduction: Don’t Sell the US Economy (or the World’s) ShortIn the past, I’ve written numerous articles positing a long-term optimistic outlook for both our economy and the attractive future growth prospects of our great American businesses. Even though I hate to forecast the market in general, I have even presented evidence indicating that the general market as represented by the S&P 500 is currently reasonably priced and even slightly undervalued. My most recent contribution can be found here.
Unfortunately, at least in my opinion, optimistic views on our economy and/or our markets are generally met with resistance and even criticism. One of the most common arguments to counter my optimism is the statement by my antagonists that they are realists. Thereby they are implying that my optimism is unrealistic, and moreover, that a pessimistic outlook is more realistic than an optimistic one. Yet, there is a preponderance of supporting evidence for optimism that is both ignored and even refused to be given consideration to.
Read More @ TheMarketOracle.co.uk
The UN’s Law of the Sea Treaty (LOST) will deliver American sovereignty and seven-tenths of the world’s surface through allocation of oceans and seas to the UN by way of the entanglement of global bureaucracy.
Over three decades ago, then President Ronald Regan rejected LOST, saying “no national interest of the United States could justify handing sovereign control of two-thirds of the Earth’s surface over to the Third World.”
The writers of LOST want to give the UN power to draw oceanic boundaries to impose environmental regulations and restrict business on the high seas.
LOST would give critical US naval and drilling operational decision making and final word to the UN.
Regan believed LOST was an “effort to promote global government at the expense of sovereign nation states — and most especially the United States.”
Read More @ OccupyCorporatism.com
from Zero Hedge:
Spreading The Wealth Around
All
that debt Obama acquired, and all the stimulus did work to
redistribute wealth and income — it worked to redistribute wealth and
income toward the well-connected crony capitalist groups that funded
Obama into office. Obama can talk all he likes about cutting taxes for
the middle class; the data shows who Obama’s redistribution policies
have overwhelmingly favoured. Of course, leftists and statists often
end up favouring the super-rich. That’s been the underlying reality of
communism — politburos, bureaucrats, technocrats, party members all
benefit at the expense of everyone else (in spite of all that
proletarian rhetoric). Inviting the state to carve up national income
and redistribute it is an invitation to corruption, and graft. Obama
talks an updated version of the old communist rhetoric about
redistributing wealth to the working class — he even adopted Stalin’s
slogan “forward” — yet just like Stalin the reality of his policies is
more wealth for the richest and most well-connected. What a surprise.Things That Make You Go Hmmm - Such As Pavlovian Markets
by Eric Reguly, TheGlobeAndMail.com:
Gold is back in the news, big time, and not just because the price may
be on the verge of another upswing or that Peter Munk is turning
Barrick, the world’s biggest gold company, into a CEO meat grinder. It’s
because Germany, it appears, wants to make gold the effective currency
of the euro zone before the region plunges to the bottom of the seas
like a concrete U-boat.The weakest euro zone countries are tapped out financially and economically. But a few of them are brimming with gold reserves. Take Italy, the euro zone’s third-largest economy. The Italians love gold and it’s stashed everywhere, in their central bank and in their jewellery and safe deposit boxes. (I once saw a religious-festival parade of children in a mountain town, with each child groaning under the weight of heavy gold necklaces and other baubles). At last count, the central bank had 2,451 tonnes of gold, valued at close to €100-billion ($128-billion). That’s not a fortune compared to Italy’s €1.9-trillion national debt, but it’s not bad when Rome is raiding the pantry to pay its ever-rising debt.
Read More @ TheGlobeAndMail.com
by Lauren Feeney, Bill Moyers:
Micah Sifry and Andrew Rasiej are co-founders of Personal Democracy Media, an organization working at the intersection of technology, politics, government and civic life. Their ninth annual Personal Democracy Forum
convenes next week in New York City. We caught up with them on the eve
of the forum to talk about two new factors that could help shape the
2012 elections — the growing power of social media and the Internet and
the explosive influence of corporate money post-Citizens United.Lauren Feeney: Can the democratizing power of the Internet counteract the corrosive power of money in politics?
Micah Sifry: I think in the long run the answer is yes, but in the short run — meaning the next six months — probably not. More and more people are discovering that they can participate in the daily conversation through which politics is influenced. It’s no longer just a spectator sport. In the age of television, all you could do was watch; you couldn’t talk back.
Read More @ BillMoyers.com
by Sheila Bair, SilverBearCafe.com:
Are you concerned about growing income inequality in America? Are you
resentful of all that wealth concentrated in the 1 percent? I’ve got
the perfect solution, a modest proposal that involves just a small
adjustment in the Federal Reserve’s easy monetary policy. Best of all,
it will mean that none of us have to work for a living anymore.
For several years now, the Fed has been making money available to the financial sector at near-zero interest rates. Big banks and hedge funds, among others, have taken this cheap money and invested it in securities with high yields. This type of profit-making, called the “carry trade,” has been enormously profitable for them.
So why not let everyone participate?
Read More @ SilverBearCafe.com
Are you concerned about growing income inequality in America? Are you
resentful of all that wealth concentrated in the 1 percent? I’ve got
the perfect solution, a modest proposal that involves just a small
adjustment in the Federal Reserve’s easy monetary policy. Best of all,
it will mean that none of us have to work for a living anymore.For several years now, the Fed has been making money available to the financial sector at near-zero interest rates. Big banks and hedge funds, among others, have taken this cheap money and invested it in securities with high yields. This type of profit-making, called the “carry trade,” has been enormously profitable for them.
So why not let everyone participate?
Read More @ SilverBearCafe.com
by Christine Kane, Activist Post
It was recently reported
that a rather significant, concerning, and mysterious spike in
radiation occurred in the north Indiana / south Michigan area, causing
widespread alarm throughout the nation.
Not only are the reports of the radiation spike concerning in and of itself, but the appearance of military helicopters, aircraft, and Department of Homeland Security Hazmat fleets is also generating some raised eyebrows.
Reports are continuously coming out updating on the event occurring throughout June 6-7, with locals reporting on a series of explosions, house-shaking rumbles, and even large trees being completely snapped in half on a clear day just days before.
Read More @ Activist Post
It was recently reported
that a rather significant, concerning, and mysterious spike in
radiation occurred in the north Indiana / south Michigan area, causing
widespread alarm throughout the nation.Not only are the reports of the radiation spike concerning in and of itself, but the appearance of military helicopters, aircraft, and Department of Homeland Security Hazmat fleets is also generating some raised eyebrows.
Reports are continuously coming out updating on the event occurring throughout June 6-7, with locals reporting on a series of explosions, house-shaking rumbles, and even large trees being completely snapped in half on a clear day just days before.
Read More @ Activist Post
from, Gold Money:
With eurozone troubles taking yet another turn for the worse, China’s economy struggling, and US jobs data
showing the American economy is again heading in the wrong direction,
gold has at last started to make some interesting moves. While it is
often a mistake to directly link the price of gold to specific
macro-economic events, the coincidence is notable.
If one can rank news in order of importance, the announcement that China imported 101.78 tonnes of gold through Hong Kong in April, a substantial increase, is at least a tangible fact. Furthermore, news that Iran has escalated her imports through Turkey could also prove to be significant, given she has no access to foreign exchange markets, and gold is presumably being used as currency.
Read More @ GoldMoney.com
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With eurozone troubles taking yet another turn for the worse, China’s economy struggling, and US jobs data
showing the American economy is again heading in the wrong direction,
gold has at last started to make some interesting moves. While it is
often a mistake to directly link the price of gold to specific
macro-economic events, the coincidence is notable.If one can rank news in order of importance, the announcement that China imported 101.78 tonnes of gold through Hong Kong in April, a substantial increase, is at least a tangible fact. Furthermore, news that Iran has escalated her imports through Turkey could also prove to be significant, given she has no access to foreign exchange markets, and gold is presumably being used as currency.
Read More @ GoldMoney.com
We The Sheeplez is intended to reflect excellence in effort and content. Donations will help maintain this goal and defray the operational costs. Paypal, a leading provider of secure online money transfers, will handle the donations. Thank you for your contribution.
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