Submitted by Tyler Durden on 06/27/2015 - 19:20 If there was any confusion if, as we warned was the biggest problem with the Greek referendum namely that next weekend there will no longer be a proposal to vote on, the IMF's Christine Lagarde just put it to rest. As she told the BBC moments ago, the Greek government's planned referendum on the terms of any new bailout plan will be invalid after Tuesday, when the current programme expires. As a result, the Greek people would be voting on proposals that were no longer in place.
America Is Its Own Worst Enemy - Trapped In Irrational Exuberance
Submitted by Tyler Durden on 06/27/2015 - 22:10 Yes, the clock’s ticking louder, louder, warns the Economist, “only a matter of time before the next recession strikes.” Unfortunately, the “rich world is not ready.” America’s not prepared. You are not ready.The Greek Butterfly Effect
Submitted by Tyler Durden on 06/27/2015 - 21:35 This next week is not so much about Greece the butterfly, but it is about keeping the butterfly from becoming a hindrance to the math working globally. And the Greek government knows this. They are negotiating on the basis that a bad Greek deal from Europe’s point of view is better than a default. Angela Merkel wanted a concluded Greek deal before
Austrians have launched a petition to quit the EU, arguing that the nation will be better off economically if it leaves the European union. To force the national parliament to consider the initiative activists need to have gathered 100,000 signatures by July 1.
The petition was started by a retired 66-year-old translator, Inge Rauscher, who has collected enough signatures to launch an official campaign. The plea seeks to request that the national parliament debate the idea of a referendum on quitting the EU. However, to get that issue even discussed, the petition must gather 100,000 signatures.
“We want to go back to a neutral and peace-loving Austria,” Rauscher said at the start of the campaign this week. Austrians have until July 1 to sign the petition which they can do in municipal or district offices.
Read More @ RT.com
hat tip: Andy
While Monsanto tries to dodge a class action lawsuit in California by requesting that it be dismissed by the court, a
federal judge in Argentina has accepted a class action lawsuit that
would force GMO labeling and provisionally suspend the cultivation of
genetically modified crops.The lawsuit targets Monsanto for causing a seed monopoly through mono-cultivation. It argues for a complete ban on GMOs and on:
“. . .the application of pesticides used for farming until their safety for the environment, ecosystems, biodiversity, the health of living beings, the cultural heritage of the Argentine people, and the sustainability of the production model is scientifically proven.”
Read More @ NaturalSociety.com
China Challenges Gold Price-Setting Regime; Confirms Launch Of Yuan-Denominated Fix
Submitted by Tyler Durden on 06/27/2015 - 21:00 Less than two weeks after Bank of China became the first Chinese bank to join the list of participants in the London gold auction, The Shanghai Gold Exchange confirms that a yuan-denominated gold fix will be in place by the end of 2015.Greek Parliament Votes In Favor Of Referendum
Submitted by Tyler Durden on 06/27/2015 - 19:40 Update: As expected, the Greek parliament has voted in favor of the referendum announced Saturday by PM Alexis Tsipras.
EU Officials Unleash The Fearmongery: "The Crisis Has Commenced"
Submitted by Tyler Durden on 06/27/2015 - 15:19 Presented with little comment aside to ask if someone is off-script?*NOONAN: THE CRISIS HAS COMMENCED
*SCHAEUBLE SAYS `HELLISH DIFFICULT TASK' ON GREECE
*NOONAN: I HAVE SYMPATHY FOR THE GREEK PEOPLE
But always remember, "Greece doesn't matter," which as Mohamed El-Erian explains, is somewhat true, since European leaders have two other existential issues to contend with also...
Eurozone Rejects Greek Bailout Extension: All Bailout Programs Expire On June 30, Referendum Moot
Submitted by Tyler Durden on 06/27/2015 - 10:58 "Regrettably, despite efforts at all levels and full support of the Eurogroup, this proposal has been rejected by the Greek authorities who broke off the programme negotiations late on the 26 June unilaterally. The current financial assistance arrangement with Greece will expire on 30 June 2015, as well as all agreements related to the current Greek programme including the transfer by euro area Member States of SMP and ANFA equivalent profits."
EU FinMins Admit Real Concern, Will Do 'Whatever It Takes' To Avoid Market Unease
Submitted by Tyler Durden on 06/27/2015 - 14:58 It is clear from the EU Finance Ministers' template-like comments to the press what the real worry is in Europe (and the world). It's not The Greeks (Schaeuble: "No other decision was possible, no problem with Greek referendum... need to see what happens next"), it's something else:*SCHAEUBLE SAYS DOING EVERYTHING POSSIBLE TO AVERT MARKET UNEASE
*DIJSSELBLOEM: OUR INSTITUTIONS ARE PREPARED TO TAKE ANY ACTION
And then there's this utter rubbish: ITALY'S PADOAN: "EURO AREA IS VERY STRONG."
Does 1987 Have Any Lessons For Today?
Submitted by Tyler Durden on 06/27/2015 - 15:15 Here's how it plays out... "no one gets out of this alive"
Jim Grant Explains "Our" 3 Biggest Financial Mistakes
Submitted by Tyler Durden on 06/27/2015 - 18:00 Speaking at Russell Napier’s Library of Mistakes in Edinburgh earlier this month, Jim Grant of Grant’s Interest Rate Observer was asked what financial mistakes we’re making today that future generations will regard as the most ridiculous. If you’re familiar with Grant’s writing the short answer won’t surprise you...
Why Banks Rob Depositors: "Because That's Where the Money Is"
Submitted by Tyler Durden on 06/27/2015 - 16:35 One of America's most notorious bank robbers, Willie Sutton (1901-80), is said to have remarked that he robbed banks "because that's where the money is." In a strange twist, the banks themselves are now beginning literally to rob their own customers.
Moody's, Fitch Fret Over Billions In Student Loan ABS As Defaults Loom
Submitted by Tyler Durden on 06/27/2015 - 15:50 The fact that Moody's and Fitch are beginning to reevaluate student loan ABS is indicative of an underlying shift in the market. Between the proliferation of IBR and the Department of Education's recent move to open the door for debt forgiveness in the wake of the Corinthian collapse, financial markets are beginning to see the writing on the wall. Perhaps Bill Ackman said it best: "there's no way students are going to pay it all back."
Greek IMF Default May Trigger €131 Billion Payment On EFSF Lonas
Submitted by Tyler Durden on 06/27/2015 - 14:40 "A possible Greek default on debt due to the International Monetary Fund next week would trigger cross- default clauses on 130.9 billion euros that Greece owes the euro area’s temporary rescue facility, a European Union official says."
Greek Stock Market May Not Open Monday, Greek Officials Warn
Submitted by Tyler Durden on 06/27/2015 - 14:18 Despite all the talk of "containment" and "Greece doesn't matter," not only are we told by anonymous EU officials that some banks may not open Monday but now, a Greek SEC Official has warned...*GREEK BOURSE MAY NOT TRADE MON IF NO ELA EXTENDED: SEC OFFICIAL
Greeks just got CYNK'd (or Hanergy'd).
Although the Fat Lady isn’t on stage singing yet, it looks like my view that the Troika/Greece situation would resolve with a “NO-GREXIT” was wrong. I’m actually relieved because perhaps this will be the catalyst that will trigger a forced re-setting of all markets globally which have been rendered catastrophically disconnected from any remote semblance of their representative underlying fundamentals.
At least at this moment in time, the Eurozone has rejected any bailout extension beyond June 30th, regardless of the outcome of the Referendum on the matter declared by Tsipras. Perhaps this is the Troika’s most extreme effort to get Greece to “blink” in what has been, up to this point, a childish game of chicken.
However, that not being the case, it will be interesting to see how the markets will react on Monday, assuming the Central Planning Network of western Central Banks exercise ultimate control by cutting the “electricity in the casino” by making sure all the markets “break” ahead of Monday’s open.
<!–more Read More…–>
Per a report posted by Zerohedge, one Cyprus-based FX brokerage firm, Mayzus, has declared at FX instruments to be “Close Only” mode until Monday morning: LINK. It will be interesting to see, assuming no changes to the latest status of the GREXIT drama, if most, if not all markets, decide to declare a trading holiday on Monday.
Please understand that if the credit, derivatives and equity markets had not been inflated with printed liquidity to such an extreme degree, there would never be a need to “break” the markets to stop trading or declare an outright “holiday” has Mayzus has.
Why? Because the relative price level of the markets would have already incorporated a significant amount of the expected risk attached the probability of a GREXIT. Unfortunately the Central Banks have, up to now, successfully prevented healthy volatility and have completely insulated the markets from all measures of risk.
Thus, the only way to prevent financial Armageddon is to declare all markets on holiday. However, the most interest market to watch will be the re-pricing of the market forphysical precious metals. Even if they suspend the trading of fraudulent paper futures trading, an over-the-counter – or even “black” market – for physical bullion will develop. This is because, unlike futures contracts, buyers and sellers can effectuate an exchange of physical for fiat paper. Of course, I believe that this market would open up “bid without,” meaning buyers will stick bids out looking for offers.
There’s nothing more terrifying in the markets than trading a market that goes “bid without” when you are short. Theoretically markets have a bottom – zero – but the upside is infinite. Speaking from being a market maker in a relatively illiquid market – junk bonds – it is more than just an “uncomfortable” feeling when you are short and market goes “bid without.” It seems like an eternity until the first offer might appear and the pit in your stomach goes bottomless when you one appears at a level much higher than the level for which you were praying. The short position will cause heart attacks and Bill Murphy’s prediction that they would carry gold shorts out of the Comex on stretchers will come to fruition.
The only advice I would give to someone who decides to throw an offering out in physical gold is this: make sure you offer your gold at a price at which you are willing to own fiat paper currency instead of hard currency devoid of counterparty risk. Regard the value all fiat currencies like you might regard the value of new drachma relative to the value of physical gold bullion.
Read More @ InvestmentResearchDynamics.com
image: phoenixgaychamber.com
Hedge funds and high-frequency traders have finally forced gold into a
US dollar loss this year as shown in our introductory chart, but silver
is still in positive territory.This week gold declined $29 with a break from the $1200 level to $1171, and silver fell 40 cents to $15.70 early this morning in European trade.
As I wrote last week, in the run-up to the half-year precious metals’ prices face a conflict between window-dressing for the lowest possible valuation, and the systemic risk that is Greece. The window-dressing motive is still there, but the pressures from Greece lessened on Monday when everyone thought a deal had been agreed, leading to a relief rally in equity markets and a corresponding fall in gold. As the week progressed it became clear that the proposed deal was not acceptable to the troika* of the IMF, ECB and the European Commission, but precious metals continued to drift lower.
Read More @ GoldMoney.com
from Paul Craig Roberts:
Sovereignty or Imperialism?
On September 5, 2009 I addressed an international conference in Austria on the subject of Europe’s subordination to the US and, thus, the absence of any constructive criticism of US foreign and domestic policies. Karel van Wolferen, whose website is http://www.karelvanwolferen.com, kindly reminded me of my address to the conference when he he sent it to me with his supportive response. Both are available below. You can see from my address and from Karel’s response that the reckless direction of US foreign and domestic policy has been known for many years. Yet the recklessness continues.
Read More @ PaulCraigRoberts.org
Sovereignty or Imperialism?On September 5, 2009 I addressed an international conference in Austria on the subject of Europe’s subordination to the US and, thus, the absence of any constructive criticism of US foreign and domestic policies. Karel van Wolferen, whose website is http://www.karelvanwolferen.com, kindly reminded me of my address to the conference when he he sent it to me with his supportive response. Both are available below. You can see from my address and from Karel’s response that the reckless direction of US foreign and domestic policy has been known for many years. Yet the recklessness continues.
Read More @ PaulCraigRoberts.org
from The Burning Platform:
Despite pretty talk about “democracy” and “human rights,” U.S. leaders
have become the world’s chief purveyors of chaos and death – from
Vietnam through Iraq, Libya, Syria, Ukraine and many other unfortunate
nations, a dangerous dilemma addressed by John Chuckman.
When I think of America’s place in the world today, the image that comes to mind is of a very large animal, perhaps a huge bull elephant or even prehistoric mammoth, which long roamed as the unchallenged king of its domain but has become trapped by its own missteps, as caught in a tar pit or some quicksand, and it is violently flailing about, making a terrifying noises in its effort to free itself and re-establish its authority.
Read More @ TheBurningPlatform.com
Despite pretty talk about “democracy” and “human rights,” U.S. leaders
have become the world’s chief purveyors of chaos and death – from
Vietnam through Iraq, Libya, Syria, Ukraine and many other unfortunate
nations, a dangerous dilemma addressed by John Chuckman.When I think of America’s place in the world today, the image that comes to mind is of a very large animal, perhaps a huge bull elephant or even prehistoric mammoth, which long roamed as the unchallenged king of its domain but has become trapped by its own missteps, as caught in a tar pit or some quicksand, and it is violently flailing about, making a terrifying noises in its effort to free itself and re-establish its authority.
Read More @ TheBurningPlatform.com
by Dave Hodges, The Common Sense Show:
Could genocide ever be carried out against segments of the American
people in the modern age? Just asking this question would get some to
label the inquiry as “fear mongering” or a “conspiracy theory”. However,
with the massive military and equipment movements taking place in our
country in recent weeks, in conjunction with Jade Helm, some have come
to believe that we need to be asking questions, very serious questions
like “Are we going to witness a genocide on American soil”?
The Milgram Obedience Study
In 1963, Stanley Milgram, a professor at Yale University, investigated the prevailing American belief that a Nazi style genocide could never happen in America. What Milgram found was the two out of three people would unhesitatingly murder an innocent person simply based upon the orders of an authority figure who did not have the ability to threaten the well-being of the subject of the experiment.
Read More
Could genocide ever be carried out against segments of the American
people in the modern age? Just asking this question would get some to
label the inquiry as “fear mongering” or a “conspiracy theory”. However,
with the massive military and equipment movements taking place in our
country in recent weeks, in conjunction with Jade Helm, some have come
to believe that we need to be asking questions, very serious questions
like “Are we going to witness a genocide on American soil”?The Milgram Obedience Study
In 1963, Stanley Milgram, a professor at Yale University, investigated the prevailing American belief that a Nazi style genocide could never happen in America. What Milgram found was the two out of three people would unhesitatingly murder an innocent person simply based upon the orders of an authority figure who did not have the ability to threaten the well-being of the subject of the experiment.
Read More
from The News Doctors:
Unbeknownst to the general public, their elected politicians do not
create the policy that binds their national destiny domestically or
within the arena of geopolitics. Instead, corporate-financier funded
think tanks do – teams of unelected policymakers which transcend
elections, and which produce papers that then become the foundation of
legislation rubber stamped by “legislators,” as well as the enumerated
talking points repeated ad naseum by the corporate-media.
Such a policy paper has been recently written by the notorious US policy think-tank, the Brookings Institution, titled, “Deconstructing Syria: Towards a regionalized strategy for a confederal country.” The signed and dated open-conspiracy to divide, destroy, then incrementally occupy a sovereign nation thousands of miles from America’s shores serves as a sobering example of how dangerous and enduring modern imperialism is, even in the 21st century.
Read More @ TheNewsDoctors.com
Unbeknownst to the general public, their elected politicians do not
create the policy that binds their national destiny domestically or
within the arena of geopolitics. Instead, corporate-financier funded
think tanks do – teams of unelected policymakers which transcend
elections, and which produce papers that then become the foundation of
legislation rubber stamped by “legislators,” as well as the enumerated
talking points repeated ad naseum by the corporate-media.Such a policy paper has been recently written by the notorious US policy think-tank, the Brookings Institution, titled, “Deconstructing Syria: Towards a regionalized strategy for a confederal country.” The signed and dated open-conspiracy to divide, destroy, then incrementally occupy a sovereign nation thousands of miles from America’s shores serves as a sobering example of how dangerous and enduring modern imperialism is, even in the 21st century.
Read More @ TheNewsDoctors.com
from The Sleuth Journal:
Have you ever had a gut feeling that something big and possible bad is
right around the corner? If you have, you’re not the only one! The
feeling seems to be in the air. We know it, the elite know it, the
pentagon knows it, and even our military knows it.
I believe a great evil is about to befall not only our nation, by the entire world. Something major is unfolding and everyone knows it. The economy is unstable, the world is on the brink of war, the elite are running to their bunkers, and governments are planning for mass civil breakdown. Far too many things are on the forefront and one must ask themselves, “What the heck is going on?”
Read More @ Thesleuthjournal.com
Have you ever had a gut feeling that something big and possible bad is
right around the corner? If you have, you’re not the only one! The
feeling seems to be in the air. We know it, the elite know it, the
pentagon knows it, and even our military knows it.I believe a great evil is about to befall not only our nation, by the entire world. Something major is unfolding and everyone knows it. The economy is unstable, the world is on the brink of war, the elite are running to their bunkers, and governments are planning for mass civil breakdown. Far too many things are on the forefront and one must ask themselves, “What the heck is going on?”
Read More @ Thesleuthjournal.com
from MikeHendersonArchives:
from KingWorldNews:
The Greek government understands that what is being imposed on Greece
is not workable. Since the (implementation of) austerity the Greek
economy has declined by 27 percent. That’s a depression. And they keep
hoping that the Germans wake up one day and realize that austerity is
not the way you cure debt, and that the Greek government cannot agree to
conditions that drive the Greek population into the ground. They (the
troika) are talking about (a) genocide (of the Greek population).
The Russians understand that Greece is being plundered by the West and met with the leader of Greece and offered him a deal. They said, ‘We’ll finance you. But not to pay off the German and Dutch banks, the New York hedge funds or the IMF.’”
Dr. Roberts Audio Interview @ KingWorldNews.com
The Greek government understands that what is being imposed on Greece
is not workable. Since the (implementation of) austerity the Greek
economy has declined by 27 percent. That’s a depression. And they keep
hoping that the Germans wake up one day and realize that austerity is
not the way you cure debt, and that the Greek government cannot agree to
conditions that drive the Greek population into the ground. They (the
troika) are talking about (a) genocide (of the Greek population).The Russians understand that Greece is being plundered by the West and met with the leader of Greece and offered him a deal. They said, ‘We’ll finance you. But not to pay off the German and Dutch banks, the New York hedge funds or the IMF.’”
Dr. Roberts Audio Interview @ KingWorldNews.com
Good Day to you Ready Nutrition Readers! Today’s article details
Lomatium, the most powerful herb in North America for use as an
antiviral or antibiotic. After reading this article, you may wish to
add this herb to your naturopathic first-aid arsenal and include it in
your stores of preps. The bottom line: those who used Lomatium during the 1918 Spanish Flu pandemic survived the virus and all of its complications. Nifty, huh?There are 11 species of the genus as identified by the U.S. National Herbarium back in the year 1840, and three that hold special medicinal significance in the field of naturopathic medicine: Lomatium dissectum, Leptotaenia dissecta, and Leptotaenia multifida. The one we are going to focus on primarily is Lomatium dissectum. The following list gives the indications and uses for the herb: Coughs and associated illnesses of the throat, allergies, bronchitis, pneumonia, asthma, influenza, tuberculosis, venereal diseases, and distemper.
Read More @ ReadyNutrition.com
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