Friday, June 5, 2015

Greek Banks On Verge Of Total Collapse: Bank Run Surges "Massively" As Depositors Yank €700 Million Today Alone



While the Greek government believes it may have won the battle, if not the war with Europe, the reality is that every additional day in which Athens does not have a funding backstop, be it the ECB (or the BRIC bank), is a day which brings the local banking system to total collapse. And another day, or two, like today, and it may all be over:  According to banking sources, the Greek bank outflows on Friday soared to 700 million Euros from 272 million Euros on Thursday.


The Public’s Illusions Are About To Be Crushed As The Biggest Ponzi Scheme In World History Implodes

from Kingworldnews:
We live in an illusory world where the public’s illusions are about to be smashed in the next few years. As an example, the illusory fortunes of the very wealthy have gone up exponentially in this century. They all believe that they are creating wealth based on their skills in investing. Little do they realize that the real reason is because they are standing near the printing press in the biggest Ponzi scheme in world history. I speak to many of these people about risk but they see no risk in financial markets. They don’t believe that $100 million for an apartment, painting, or a diamond is a bubble. Or a stock market that is actually now valued higher than it was in 1929, 2000, or in 2007. They don’t see that this is a bubble.
They also can’t see that government bonds which can never be repaid and that are paying zero interest or even negative interest is a bubble. They have no concern whatsoever that these markets can collapse. And if you told them that a 50 – 90 percent fall in stocks, bonds and property is a possibility, they would think that you are brain-damaged.
Egon von Greyerz Continues @ King World News



Memo To The Fed And Jon Hilsenrath: We're Not Here To Enrich Your Corporate Cronies

Memo to the Fed and its media tool Hilsenrath: we're not here to further enrich your already obscenely rich banker and corporate cronies by buying overpriced goods and services we don't need. Our job is not to spend every cent we earn on interest to banks and mostly-garbage corporate goods and services. Our job is to limit the amount we squander on interest and needless spending. Our job is to build the financial security of our families by saving capital and prudently investing it in assets we control (as opposed to letting Wall Street control our assets parked in equity and bond funds).
 



"The Simplest Way To Describe Keynesianism" In One Photo

Doesn't get any simpler than this.
 



Looking For The Next One: "All The Pieces Are Already In Position, Missing Now Only A Spark"

The Fed sees no risks of bubble trouble because they are looking at it all from the 2008 perspective. That is completely wrong-headed; if there is a “next one” it will have nothing to do with subprime mortgages, or even mortgages and real estate. Everyone seems to simply assume that the subprime problem ended in 2008, if only by crash. That is true but only of mortgages. Deleveraging is myth as debt has still expanded, and greatly, just not in the same exact places. There are certainly auto and student loans that have exploded exponentially, especially in subprime categories, but if there is another credit bubble now, the third, it is undoubtedly corporate debt.
 



"The Job Numbers Literally Do Not Add Up"

The last time the Establishment Survey was as robust as the past year or so was 1999; then, the average productivity was 3.7%! That number actually makes sense intuitively, since businesses would have good reason to go on a hiring spree. Porting that to the current period, as in the mathematical construction of productivity here, would mean, holding output constant, that total hours in the past five quarters would have been not +2.7% but -1.7%. These numbers literally do not add up.
 



The Stock Market Is Disappearing In One Giant Leveraged Buyout

This is the end game of unfettered capitalism. The signs are all here. When you cast aside reasonable restraints, the unscrupulous among us will rise to the top and exploit everyone else. What we have left is a new American feudalism where CEOs move around like a pack of ruthless Somalian warlords. Riding behind the banner of efficiency, they replace employees with robots, outsource their work to foreigners and tell their employees to train their own replacements, and collude with hedge fund managers to strip companies of their most valuable assets to temporarily boost the stock price.
 



Vietnam To Buy Fighter Jets, Drones From West To Counter Chinese 'Aggression'

In yet another sign that Beijing's neighbors in the region (who have competing claims in the Spratlys) are seeking to guard against what they view as Chinese aggression, Vietnam is set to bolster its defense capabilities and deepen its security relationship with the US.
 



Al-Qaeda Informant Says Yemen Lied To US, Secretly Channelled Money, Bombs

In an exclusive interview with Al Jazeera, a former al-Qaeda informant for the Ali Abdullah Saleh government claims Abdullah Saleh and his lieutenants not only turned a blind eye to AQAP operations in the country, but in fact played a direct role in facilitating al-Qaeda attacks even as the government accepted anti-terrorism financing from the US.




"Stratospheric", "Irrational" Chinese Rally "Screams Speculative Bubble" To BNP

"How long the bubble can continue to inflate is the key question – but necessarily unanswerable. Inherently irrational, bubbles usually last longer than expected, [but they] ultimately burst... they expand continuously, then pop."




Artist's Impression Of Iran Nuclear Deal "Monitoring"

Presented with no comment...




Fed Unable To Comply With Congressional Subpoena Due To Criminal Probe

Citing an ongoing OIG and DoJ probe, Janet Yellen says the Fed is currently unable to comply with a Congressional subpoena requesting information regarding a 2012 incident in which the minutes from the FOMC's September meeting were leaked to consulting firm Medley Global Advisors.




This Is The Fed's "Second Biggest Nightmare" According To Citigroup

Two weeks ago, Citigroup presented what it thinks is the biggest nightmare for the Fed: it said that the FOMC’s "biggest worry is not lift off and its market and economic implications, but what happens if the economic recovery dies of old age without the Fed having done anything to tighten." And, according to Citi's FX strategists, "if this were to occur, the USD would probably fall faster than it rose from July-March." A precursor to loss of faith in the Dollar's reserve currency status perhaps. Today, Citi's Steven Englander lays out what is the Fed's second biggest nightmare: a rebound which is so fast, the Fed's entire carefully planned renormalization schedule collapses.


GUEST POST: One step forward and one step back… towards a break in confidence!

by Bill Holter, SGT Report.com:
Jim suggested a big picture topic to write about. Each step forward by the Chinese to make a foothold for the yuan is one step backwards for the grip the dollar has held over the globe. This topic has several nuances to it, let’s take a look from several vantage points. As a spoiler, any “steps back” in today’s fiat currency world are steps toward a break in confidence. Call it deflation or hyperinflation, a break in the confidence of fiat currency will end with many currencies being replaced, this is a major part of your coming “re-set”.
The first and most obvious is we live in a world with an economic and financial pie of a given size at any point in time. Each deal, each transaction and each “platform” that is done or created by the Chinese for using yuan instead of dollars means the size of the of the pie “slices” change. Any increase in the usage of yuan means a smaller slice for the use of dollars. Yes, theoretically the pie gets larger over time and we’ll get to this shortly, I am simply saying here that in a static system, more yuan usage means less dollar usage.
Read More…


TPP Emails Show CEO Joked About Making “Royalty Payment” to US Officials

by Paul Joseph Watson, Infowars:
Emails released under a Freedom of Information Act request show how one chemical company CEO was so pleased with the rules being set by the Trans Pacific Partnership (TPP) trade deal that he joked about making a “royalty payment” to U.S. government officials before bragging, “these rules are our rules.”
400 pages of confidential emails between industry advisors and USTR officials were obtained by Intellectual Property Watch. The USTR (Office of the United States Trade Representative), is the U.S. government agency responsible for developing the United States’ trade policy.
One of the emails was written by Jim DeLisi of Fanwood Chemical, a company that provides “technical marketing, direct sales, manufacturing and regulatory services” to the chemical industry.
Addressed to the USTR’s Barbara Weisel, the email states (emphasis mine);
Read More @ Infowars.com


Newton, CT Insider Reveals DHS Involvement In Sandy Hook Massacre

from Infowars, via Economic News TV:



In the second FOIA Sandy Hook Hearing an public servant claims the blinking “everyone check-in” electric road sign was provided the by the DHS.


RON PAUL: The CIA is a Secret Government Way Out of Control

from Sputnik, via The Phaser:
While some may be cheering the expiration of the Patriot Act – however temporary it may be – former presidential candidate Ron Paul notes: before Americans applaud a minor step toward transparency, they should recognize the corrosive nature of the CIA, a secret government operating far above the law.
[The CIA] is sort of the President’s own Praetorian Guard,” Daniel McAdams, from the Institute of Peace and Prosperity, said on the Ron Paul Liberty Report. “We know…that he sent assassination squads, he sent people to monitor Martin Luther King, and all sorts of things like this.”
“This is like his own personal army which is accountable to no one,” McAdams adds.
Read More @ ThePhaser.com


Surprise! U.S. Elections are Rigged(Like Everything Else)!

from The Wealth Watchman:
Is it Over Yet?
Ok folks, I’ll confess it: I’m already sick of the 2016 election cycle, and it’s barely even begun!  In fact, when I’m reminded that we’ve got another 18 months of this dog and pony show, it’s almost too much to take! We’re barely even to the summer of 2015, and already the media is trying so desperately hard to convince the peoples of America how much is riding on this next one!  It’s sad and truly comical.
We all know that Washington DC is quite the cesspool these days, and it doesn’t really matter what part of it you’re talking about.   You could literally pick any agency or political party, blindfolded!  No matter what you landed on, you’d hit the same corruption, scandals, and lack of effective reform.  If any of you have ever felt crazy for thinking:
Read More…


Egg Shortage In America As Bird Flu Has Already Killed 45 MILLION Chickens And Turkeys

by Michael Snyder, End of The American Dream:
Did you know that 25 percent of all egg production in the United States has already been taken offline due to the bird flu crisis?  You aren’t hearing much about this in the mainstream media, but at this point bird flu has claimed the lives of 45 million chickens and turkeys in America.  When I wrote about this a month ago, the number of dead birds was sitting at about 20 million.  In just 30 days, the death toll has risen by an astounding 20 million.  This is a major crisis and it is already causing egg shortages around the country, and yet very few people seem alarmed about this?  Why is that?
And it isn’t just one strain of the bird flu virus that we are talking about.  Right now, there are two strains which are spreading like wildfire.
Read More…


OECD warns 40 million people will be out of work by next year as global growth flounders

from Financial Post:
The world economy risks being bogged down in a low-growth spiral unless measures are taken to spur demand and incite businesses to boost their stubbornly sluggish investments.
That’s the conclusion of the latest economic forecast from the Organization for Economic Cooperation and Development, the Paris-based body made up of 34 of the world’s most developed countries.
One consequence of the economy’s unusually weak recovery is that unemployment in the OECD region has fallen only 1 per cent since its 2010 peak. By 2016, the group warned, 40 million people will be out of work, 7.5 million more than immediately before the crisis.
Read More @ FinancialPost.com



Possible False Flag ahead...

Pentagons Anthrax Issues Grow: Live Anthrax ‘Accidentally’ Sent to 52 Labs in 18 States, 3 Cou

from Off Grid Survival:
The Department of Defense has admitted that 52 labs in 18 states and three different countries were sent live samples of anthrax over the course of a one-year period, exposing at least 31 military and civilian lab workers. The news raises new concerns over our nation’s ability to handle these deadly pathogens, and calls into questions how prepared we are to deal with real-life pandemic outbreaks.
While the Department of Defense claims the samples were not sent as the result of a deliberate action, they still have yet to discover how the live sample ended up being sent to so many laboratories, bypassing all safety protocols in the process.
Read More @ OffGridSurvival.com


Ukrainians Dispossessed, Americans are next

from Paul Craig Roberts:
Over the last 15 months Ukrainians have paid for Washington’s overthrow of their elected government in deaths, dismemberment of their country, and broken economic and political relationships with Russia that cost Ukraine its subsidized energy. Now Ukrainians are losing their pensions and traditional support payments. The Ukrainian population is headed for the graveyard.
On June 1 the TASS news agency reported that Ukraine has stopped payments to pensioners, World War II veterans, people with disabilities, and victims of Chernobyl. According to the report, Kiev has also “eliminated transport, healthcare, utilities and financial benefits for former prisoners of Nazi concentration camps and recipients of some Soviet-era orders and titles. Compensations to families with children living in the areas contaminated by radiation from the Chernobyl accident will be no longer paid either. Ukraine’s parliamentary opposition believes that the Prosecutor General’s Office should launch an investigation against Prime Minister Arseniy Yatsenyuk who actively promoted the law on the abolition of privileges.”
Read More @ PaulCraigRoberts.org


What Will Be Best Form of Communication If the Grid Goes Down?

from Ready Nutrition:
What is the lowest common denominator of our civilization, or any civilization for that matter? By that I mean, what is the one thing no society can go without? Is it water and sanitation? Fuel and transportation? Food and electricity?
I would argue that absolutely nothing we have is possible without our ability to communicate. A society’s sophistication is directly proportional to the ability of its citizens to communicate with each other. Members of a primitive, nomadic society may only be able to speak to each other in person, whereas an advanced industrial society has telephones, radios, and the internet. And don’t think for a moment that high tech societies create these devices. On the contrary, these devices create high tech societies.
Read More @ ReadyNutrition.com


OUTRAGEOUS! 3,700 ‘THREAT LEVEL 1’ CRIMINALS RELEASED BY DHS

from NextNewsNetwork:



Non-Farm Payroll: “Something Must Be Horribly Wrong For Them To Be This Blatant”

by Dave Kranzler, Investment Research Dynamics:
When the propaganda gets so bad that Wall St. Journal readers respond with threats of violence [to the Hilsenrath editorial], you know the lies are getting extreme. Regarding today’s NFP, the numbers are beyond absurd. 57k jobs added in hospitality and leisure? No one has money spend and everyone knows that. We used to laugh at the propaganda numbers coming from the old Soviet Union. The numbers coming from the U.S. Government are a bigger farce than the old Soviet Union’s propaganda…Don’t hold your breath waiting for the Fed to raise rates. – John Titus, Best Evidence
The title quote comes from John Embry. I was going to do a detailed dissection of the Bureau of Labor Statistics non-farm payroll data to show why the numbers are simply can not be believed. But it’s become a pointless and repetitive exercise.
Read More @ InvestmentResearchDynamics.com
 
 

The Central Banks Are Losing Control Of The Financial Markets

by Michael Snyder, The Economic Collapse Blog:
Every great con game eventually comes to an end.  For years, global central banks have been manipulating the financial marketplace with their monetary voodoo.  Somehow, they have convinced investors around the world to invest tens of trillions of dollars into bonds that provide a return that is way under the real rate of inflation.  For quite a long time I have been insisting that this is highly irrational.  Why would any rational investor want to put money into investments that will make them poorer on a purchasing power basis in the long run?  And when any central bank initiates a policy of “quantitative easing”, any rational investor should immediately start demanding a higher rate of return on the bonds of that nation.  Creating money out of thin air and pumping into the financial system devalues all existing money and creates inflation.  Therefore, rational investors should respond by driving interest rates up.  Instead, central banks told everyone that interest rates would be forced down, and that is precisely what happened.  But now things have shifted.  Investors are starting to behave more rationally and the central banks are starting to lose control of the financial markets, and that is a very bad sign for the rest of 2015.
Read More…
 
 

ISIS, the CIA and Guillotines: A Must Read!

by Dave Hodges, The Common Sense Show:
The following is one of the most lucid accounts of FM 3-39.4 and FEMA camp detention. It is worthy of viewing and will help legitimize the question: Will beheadings ever become part of the FEMA camp experience?
The guillotine has never been used inside of the United States. The United States has executed people by firing squad, hanging, the electric chair and lethal injection. Claims that the guillotine will be used on American soil against Americans, seem ludicrous on its face. However, several dots are connecting which casts serious doubt on that assumption.
Read More
 
 

10 Corporations That Got Away With Murder

from The Daily Sheeple:
With TPP and its deranged Atlantic cousin, TTIP, both proceeding — and Citizens United still buttering up our elections for corporate feasts — watchdogs and whistleblowers have never been more important to our democracy.
However, while a hero like Edward Snowden can reveal to us the surveillance state and dragnet data collection enabled by the Patriot Act, one person alone can’t stop its successor, the USA FREEDOM Act, from privatizing mass data collection and outsourcing the job to the government’s Big Data partners.
Read More @ TheDailySheeple.com
 
 

Greece CONTINUES to say “NO” to FAKE bail-outs

by Jeff Nielson, Bullion Bulls:
I’m totally bored by this pathetic farce, and I don’t understand why Greece’s government doesn’t simply DECLARE its (inevitable) debt-default — and then it can start moving forward with its economy, even though things will get worse over the short-term. All I can surmise is that (behind the scenes) Greece’s new (Eastern) “friends” — notably Russia — are putting together their own rescue package, and so Greece is just stalling for time. Otherwise, dragging this out makes absolutely no sense whatsoever. It just delays (and extends) the pain for the Greek people.
What option does it have? The EU (and ECB) Vampires will never negotiate, ever, period. Their Master (the One Bank) has given them unequivocal orders: no debt-forgiveness, no HELP of any kind for this dying economy. Just PILE MORE DEBT onto it — and call that “a bail-out”.
What do the Vampires (and their Master) want? They want to keep piling more debt onto these bankrupt nations, while imposing “more Austerity”. Translation? EVERY YEAR these governments are supposed to cut more and more funding that they spend on the People (and simply keeping the economy from total collapse) so there is MORE MONEY FOR INTEREST PAYMENTS.
Read More @ Bullionbullscanada.com
 









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