Updated...Greece Unable To Make €300 Million IMF Payment, Requests "Bundling"

Update: GREEK FINANCE MINISTRY REJECTS CREDITORS' BAILOUT PROPOSAL

Submitted by Tyler Durden on 06/04/2015 - 12:40
And just like that, after effectively defaulting to the IMF a month ago, Greece has just re-effectively re-defaulted to the same IMF on its payment due tomorrow, which now will not be made, just as we said it won't...

Ukraine 'Mobilizes' Right Sector Neo-Nazis Amid Renewed Fighting; NATO Points Finger, Russia Responds

Submitted by Tyler Durden on 06/04/2015 - 14:10 Following yesterday's "large-scale" rebel offensive, as Ukraine's military reported it, and hot on the heels of Poroshenko's threat of imminent martial law (including the right to detain or force relocate foreign nationals at will) and Soros' exposure as the 'lethal-weapon-demanding' puppet-master, Tass reports Ukraine’s nationalists affiliated with the extremist organization calling itself the Right Sector (outlawed in Russia) have been urged to cut short their vacations and all commanders, ordered to begin full mobilization. NATO has asked both sides to back down, focused on Russia's responsibility as Poroshenko says there are now more than 9,000 Russian troops on Ukraine soil (though YouTube proof remains absent). It appears, perhaps strengthening Soros' case for lethal aid, that The Minsk Accord is hanging by a thread.

EU Regulators Order 11 Countries To Adopt Bail-In Rules

by Dave Kranzler, Investment Research Dynamics:
If there is a risk in a bank, our first question should be: “Ok, what are you the bank going to do about that? What can you do to recapitalise yourself?” If the bank can’t do it, then we’ll talk to the shareholders and the bondholders. We’ll ask them to contribute in recapitalising the bank. And if necessary the uninsured deposit holders: “What can you do in order to save your own banks?” – Jeroen Dijsselbloem, President of the Board of Directors of the European Stability Mechanism, March 26, 2013
The bail-ins are coming. Reuters reported today that European Commission today gave France, Italy and nine other EU countries two months to adopt bank bail-in regulations or face legal action – LINK
Read More @ InvestmentResearchDynamics.com

IMF Panics - Slashes US Growth Forecasts, Demands Fed Stay On Hold For Another Year

Submitted by Tyler Durden on 06/04/2015 - 09:41 Anxiety over financial stability and shadow banking risks appear to have force Christine Lagarde and her fellow extrapolators to hit the panic button:
IMF CUTS U.S. 2015 GROWTH FORECAST TO 2.5% FROM 3.1%, URGES FED TO DELAY FIRST RATE INCREASE UNTIL 1H 2016
Adding that they viewed the Dollar as "moderately overvalued" and any more appreciation would be "harmful," it seems global disinflationary pressures have left the IMF no choice but to say publicly what everyone has uttered under their breath. Now Yellen is really cornered.. and just exactly how are the talking heads going to spin this as positive?

Tsipras Sticks To "Red Line" Rhetoric Cornered By Party Radicals

Submitted by Tyler Durden on 06/04/2015 - 07:41 "An early election would be possible, but the least likely: the PM will likely be able to pass an agreement through parliament with opposition support, in turn generating strong incentives for a shift to a more moderate coalition within the existing parliament rather than a new electoral campaign following a painful compromise with European creditors," Deutsche Bank says, laying out the likely outcome if and when Greek PM Alexis Tsipras does finally accept an unpopular deal with creditors.

The Rich Are Losing Faith In The Stock Market

Submitted by Tyler Durden on 06/04/2015 - 09:55 Inconceivable? Consumer Comfort among the highest income earners in America has totally and utterly collapsed. Despite record-er highs in the US equity market and promises from every talking head that Q1 was a blip, those earning $100k or over have seen their 'comfort' crash to the lowest since September...

Tsipras May Ask For Vote Of Confidence As Parliament Debates Bailout

Submitted by Tyler Durden on 06/04/2015 - 10:17 Unconfirmed reports now suggest Greek PM Alexis Tsipras will ask for a vote of confidence as early as tomorrow.

Spot The Very Odd One Out: "How Much Longer Can This Divergence Continue?"

Submitted by Tyler Durden on 06/04/2015 - 11:31 A chart we first showed several months ago is once again making the rounds, this time courtesy of Newedge's Brad Wishak who looks at recent trends in asset volatilities, and asks a simple question: "how much longer can this divergence continue?"

C-Suite Gamblers - The Real "Dumb Money" Inflating The Bubble

Submitted by Tyler Durden on 06/04/2015 - 11:16 U.S. companies announced $141 billion of new stock buyback programs last month and $243 billion of new M&A deals. Both figures are all-time records, and according to bubblevision are further evidence that CEOs are bullish on their companies and the economic outlook. You might say that. Then, again, it might put you in mind of swarming moths heading for a light bulb. The baleful truth is this. In its arrogant and misbegotten seizure of all financial power, the nation’s central bank has turned the C-suite of corporate America into a destructive agent of bubble finance. That’s ‘dumb money’ with a vengeance.

Overnight, In Chinese Stocks...

Submitted by Tyler Durden on 06/04/2015 - 13:20 As the afternoon session opened overnight in China, stocks were crashing 6-7% (after dropping over 10% and soaring over 15% in the 5 days prior). With record and exponentially growing margin trading one can only imagine the vast majority of new account-holding housewives were stopped out of various positions. Which makes us wonder, just who the mysterious buyer of last resort was that lifted Chinese stocks ever-so-linearly all the way back to unchanged (and in fact green for Shanghai). We suspect you know the answer, and sure enough, just as Bloomberg notes, who cares about China's economy when stocks are rising this much? Simply put, this is bread-and-circuses distraction for the masses of Chinese facing the harsh economic reality of a post debt-fueled bubble bursting.

What Does Credit "Know" About Payrolls?

Submitted by Tyler Durden on 06/04/2015 - 13:02 Maybe nothing... but one thing is for sure - protection is bid into tomorrow's uncertainty (despite rates collapse today).

A Member Of The Middle Class Responds To Jon Hilsenrath

Submitted by Tyler Durden on 06/03/2015 - 22:27 Dear Mr Hilsenrath and your Central Bank Team,
This is Joe from the disappearing Middle Class in America.  You asked me the other day to drop you a note if I felt that something was wrong.  What I’m having trouble with is “why” you’re asking me if anything is wrong!?
So let me explain.

California Set For A 10-Cent Gas Tax Hike

Submitted by Tyler Durden on 06/04/2015 - 12:54 Legislation has been in introduced in the California state Senate that would increase the state’s approximately 47 cents-per-gallon gas tax by 10 cents.  The new California fuel levy, which would be the state's first increase since 1994, will be collected on top of an 18.4-cents-per-gallon federal gas tax that is charged to all drivers in the nation to fill the federal government’s transportation funding coffers.

Caught On Tape: Navy Releases Clip Of Russian Warplane "Buzzing" US Destroyer

Submitted by Tyler Durden on 06/04/2015 - 12:30 Last week saw what was seemingly the first 'close encounter' between a US warship (USS Ross) and a Russian Su-24 fighter jet in the Black Sea (after America's "provocative and aggressive" behavior). The fly-by was 'caught on tape' aboard USS Ross and as Alert5 notes was released by The Navy this week who said both the ship and warplane were both in international waters and airspace at that time.

Forget "Game Theory" - Yanis Varoufakis Introduces "Hope Theory"

Submitted by Tyler Durden on 06/04/2015 - 12:06 While hope has long been dismissed as a strategy among the investing public, for game-theory expert (and Greek FinMin) Yanis Varoufakis, "hope" appears to be all he has left. Reflecting on James Byrnes 1946 speech, Varoufakis explains a “Speech of Hope” for Greece would make all the difference now – not only for us, but also for our creditors, as our renaissance would terminate the default risk.

BOJ's Kuroda "Believes He Should Fly", Says Central Bankers Should Think Happy Thoughts

Submitted by Tyler Durden on 06/04/2015 - 11:40 "I trust that many of you are familiar with the story of Peter Pan, in which it says, 'the moment you doubt whether you can fly, you cease forever to be able to do it.'"

The Matrix Is Real, And When It Goes Down You Are On Your Own…

from Modern Survival Blog:
One of my favorite movies, The Matrix, reveals how things are not what most think they are. The analogy of humans who think they are living in the ‘real world’ versus the reality of their enslavement inside individual pods while ‘the system’ projects a ‘false world’ while ‘feeding’ off them – is so very apropos to today’s reality.
For those of us who have been searching for the truths, and for those of us who when at the crossroads of choice have decidedly chosen the ‘red pill’ instead of the blue pill, we have escaped the pods of the system – although the system doesn’t like that so much…
The thing is, The Matrix is real, in so much as it is analogous to our modern lives.And when it goes down, you’ll be on your own…
Read More @ Modernsurvivalblog.com

Your Last Task After a DISNEY Layoff?? TRAIN Your FOREIGN Replacement

Ed. Note: And this is WITHOUT the TPP in place. Just imagine what’s coming.
from NY Times, via Investment Watch Blog:
While families rode the Seven Dwarfs Mine Train and searched for Nemo on clamobiles in the theme parks, these workers monitored computers in industrial buildings nearby, making sure millions of Walt Disney World ticket sales, store purchases and hotel reservations went through without a hitch. Some were performing so well that they thought they had been called in for bonuses.
Instead, about 250 Disney employees were told in late October that they would be laid off. Many of their jobs were transferred to immigrants on temporary visas for highly skilled technical workers, who were brought in by an outsourcing firm based in India. Over the next three months, some Disney employees were required to train their replacements to do the jobs they had lost.
“I just couldn’t believe they could fly people in to sit at our desks and take over our jobs exactly,” said one former worker, an American in his 40s who remains unemployed since his last day at Disney on Jan. 30.
Read More @ Investmentwatchblog.com
image credit: tinypic.com

TRILLIONS Spent on Homeland Security: Are we ANY Safer? [Um, Nope!]

from Off Grid Survival:
Since 9/11 the federal government has spent trillions of dollars on Homeland Security related funding; every hour, U.S. tax payers are on the hook for $6.74 million just to pay for so-called homeland security operations.
With this much money being poured into defending the homeland, it would stand to reason that we should be safer now than any other some in history; but are we really safer today than we were before 9/11?
After 9/11, the Senate voted 100 to zero to federalize airport security; they reasoned that federalizing aviation security would protect the nation from future attacks. But this week we learned that the federalization of Airport security, and the creation of the Transportation Security Administration (TSA) has been nothing short of a complete failure.
Read More @ OffGridSurvival.com

Richard Russell – The Most Surprising And Dangerous Bubble In The World And 2 Key Markets That Are On Fire!

from KingWorldNews:
Richard Russell: “Below we see a chart of the Dow Jones Transports. The Transports have (recently) plunged below both their moving averages to a new six-month low.
Surprisingly, the Dow and the S&P have recently recorded new record highs. Has this ever happened before – a new high in the Industrials against a six-month low in the Transportation average? I’ve combed through my charts of the averages and I can tell you that this has never happened before.
But what does it mean, and what is it telling us? Transports have tested their lows and are moving higher. This action calls for a bottom in the Transports. With the Transports bottoming, the entire stock market is set to move higher.
Richard Russell Continues @ KingWorldNews.com

“Inflate or Die, They’re Going to Die Anyway” with James Turk

from perpetualassets:

CBS Exploits and Humiliates Poor Families for Your Viewing Pleasure

by Daisy Luther, The Organic Prepper:
Are you broke? Facing foreclosure, eviction, and or repossession? I’ll bet $101,000 would help. Would you like the chance to win $101,000?
Well, CBS understands and they are giving all of the broke people the opportunity to win a life-changing amount of money.
All you have to do is get on television, cry some, grovel a lot, and beg for it. You can choose to look like a greedy jerk or look like a benevolent saint. As a bonus, producers get to edit the footage to make you look even more pathetic and tear-stained.
Read More @ TheOrganicPrepper.com

/