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06/11/2015 - 20:13
Europe Gives Greece 24 Hours To Comply; Germany Draws Up Capital Control Plans
Submitted by Tyler Durden on 06/11/2015 - 23:15 "Greece was warned by a group of European Union officials in Brussels it had less than 24 hours to come up with a serious counter-proposal," Bloomberg says. Meanwhile, Reuters reports that Germany is "holding 'concrete consultations' on what to do in the case of a bankruptcy of the Greek state."And just like that we are back to the rumor drawing board.
IMF’S RICE SAYS NO PROGRESS MADE TOWARD DEAL WITH GREECE
IMF HAS MAJOR DIFFERENCES WITH GREECE IN KEY AREAS: SPOKESMAN
IMF’S TECHNICAL TEAM ON GREECE HAS LEFT BRUSSELS, RICE SAYS
The WSJ has more details:
The International Monetary Fund has halted bailout talks with Greece after a failure to make progress in negotiations, the IMF’s top spokesman said Thursday.
“There are major differences between us in most key areas,” said IMF spokesman Gerry Rice.
“There has been no progress in narrowing these differences recently. Thus, we are well away from an agreement,” he said.
Mr. Rice said the IMF team negotiating with Greece has been pulled out of Brussels, where talks had been occurring.
“The ball is very much in Greece’s court right now,” he said.
But "two Bloomberg sources" said yesterday a deal was almost assured. What gives?
Perhaps the fact that just as we said, this is a tried and true pattern of drawing the sheep in just so the big boys can dump to novices, Chinese grandmothers and of course, Virtu’s vacuum tubes.
Considering it almost 24 hours for the official denial of the latest report we can conclude that i) the "two sources" made a lot of money trading based on their own leak and ii) since it took so long to reject the rumor, there was a lot of selling.
More…
Former
US congressman Ron Paul has condemned the militarization of police
departments in the United States after a video showed police officers
attacked a group of black teenagers in Texas.The video released on YouTube last week showed white police officer Eric Casebolt drew his gun at teenagers during a pool party in McKinney.
He also grabbed a black teenage girl by the hair and wrestled her to the ground to handcuff her. The officer sat on the 14-year-old bikini-clad girl in an effort to prevent her from standing up.
“The biggest problem right now is the militarization of the police because that seems to be a culture,” Paul said during his program, Ron Paul Liberty Report.
Read More @ PressTV.com
Paul Ryan Channels Pelosi: "You Have To Pass ObamaTrade To See What’s In ObamaTrade"
Submitted by Tyler Durden on 06/11/2015 - 22:30 If you still think that the establishment Republicans in Congress represent real opposition to President Obama’s policies, you’re either extremely brainwashed or extremely stupid. Honestly, we wonder what it will take for some people to wake up. How many times do you need to be used, abused and conned by slimy politicians before you can shake off your political Stockholm Syndrome? Today's example is from chief ObamaTrade proponent Paul Ryan who gaffed Pelosi-like when he admitted (with regard to the super-secret TPP) "It’s declassified and made public once it’s agreed to," in other words - “we have to pass the bill so that you can find out what is in it.”
by Peter Cooper, Gold Seek:
It is time to buy gold and silver again as new central bank data shows
that the European Central Bank and Federal Reserve have finally been
successful in creating inflation. Whether they will now be able to
control it is completely another matter, and buying gold to hedge
against the very real possibility that they lose control is going to be
the next big thing.
Oxford Economics has assembled data that shows ‘narrow’ M1 money in the eurozone expanding at the phenomenal rate of an annualized 16.2 per cent for the past six months. The wider measure of the money supply M3 is growing by the fastest rate since 2008, up 8.4 per cent in the same period.
Read More @ GoldSeek.com
It is time to buy gold and silver again as new central bank data shows
that the European Central Bank and Federal Reserve have finally been
successful in creating inflation. Whether they will now be able to
control it is completely another matter, and buying gold to hedge
against the very real possibility that they lose control is going to be
the next big thing.Oxford Economics has assembled data that shows ‘narrow’ M1 money in the eurozone expanding at the phenomenal rate of an annualized 16.2 per cent for the past six months. The wider measure of the money supply M3 is growing by the fastest rate since 2008, up 8.4 per cent in the same period.
Read More @ GoldSeek.com
Did Greece's Time Just Run Out?
Submitted by Tyler Durden on 06/11/2015 - 13:22 “There’s no more space for gambling, there’s no more time for gambling. The day is coming, I’m afraid, where someone says the game is over."
from Lew Rockwell:
Last week, Republicans and Democrats in Congress joined President
Barack Obama in congratulating themselves for taming the National
Security Agency’s voracious appetite for spying. By permitting one
section of the Patriot Act to expire and by replacing it with the USA
Freedom Act, the federal government is taking credit for taming beasts
of its own creation.
In reality, nothing substantial has changed.
Under the Patriot Act, the NSA had access to and possessed digital versions of the content of all telephone conversations, emails and text messages sent between and among all people in America since 2009. Under the USA Freedom Act, it has the same. The USA Freedom Act changes slightly the mechanisms for acquiring this bulk data, but it does not change the amount or nature of the data the NSA acquires.
Read More @ LewRockwell.com
Last week, Republicans and Democrats in Congress joined President
Barack Obama in congratulating themselves for taming the National
Security Agency’s voracious appetite for spying. By permitting one
section of the Patriot Act to expire and by replacing it with the USA
Freedom Act, the federal government is taking credit for taming beasts
of its own creation.In reality, nothing substantial has changed.
Under the Patriot Act, the NSA had access to and possessed digital versions of the content of all telephone conversations, emails and text messages sent between and among all people in America since 2009. Under the USA Freedom Act, it has the same. The USA Freedom Act changes slightly the mechanisms for acquiring this bulk data, but it does not change the amount or nature of the data the NSA acquires.
Read More @ LewRockwell.com
The Obama administration
has asked a secret surveillance court to ignore a federal court that
found bulk surveillance illegal and to once again grant the National
Security Agency the power to collect the phone records of millions of
Americans for six months.The legal request, filed nearly four hours after Barack Obama vowed to sign a new law banning precisely the bulk collection he asks the secret court to approve, also suggests that the administration may not necessarily comply with any potential court order demanding that the collection stop.
US officials confirmed last week that they would ask the Foreign Intelligence Surveillance court – better known as the Fisa court, a panel that meets in secret as a step in the surveillance process and thus far has only ever had the government argue before it – to turn the domestic bulk collection spigot back on.
Read More @ TheGuardian.com
from The News Doctors:
The Saker:
We hear that the Ukraine will have to declare a default, but that it
will probably be a “technical” default as opposed to an official one.
Some say that the decision of the Rada to allow Iatseniuk to chose whom
to pay is already such a “technical default”. Is there such thing as a
“technical default” and, if yes, how would it be different in terms of
consequences for the Ukraine for a “regular” default?
Michael Hudson: A default is a default. The attempted euphemism of “technical” default came up with regard to the Greek debt in 2012 at the G8 meetings. Geithner and Obama lobbied the IMF and ECB shamelessly to bail out Greece, simply so that it could pay bondholders, because U.S. banks had issued credit default insurance (CDS) against Greek bonds and were on the hook for a big loss if a default occurred. The ECB suggested euphemizing default as a “voluntary renegotiation,” asking banks and other bondholders to agree to write down the debt.
Read More @ TheNewsDoctors.com
The Saker:
We hear that the Ukraine will have to declare a default, but that it
will probably be a “technical” default as opposed to an official one.
Some say that the decision of the Rada to allow Iatseniuk to chose whom
to pay is already such a “technical default”. Is there such thing as a
“technical default” and, if yes, how would it be different in terms of
consequences for the Ukraine for a “regular” default?Michael Hudson: A default is a default. The attempted euphemism of “technical” default came up with regard to the Greek debt in 2012 at the G8 meetings. Geithner and Obama lobbied the IMF and ECB shamelessly to bail out Greece, simply so that it could pay bondholders, because U.S. banks had issued credit default insurance (CDS) against Greek bonds and were on the hook for a big loss if a default occurred. The ECB suggested euphemizing default as a “voluntary renegotiation,” asking banks and other bondholders to agree to write down the debt.
Read More @ TheNewsDoctors.com
from NextNewsNetwork:
ARIZONA | In our last report we told you about the mass casualty drills in Hawaii, now Arizona is the center of pre-Jade Helm action. For Operation Angel Thunder 15, crisis actors lined up to simulate flood victims and multinational forces created combat scenarios that stretched out to the pacific ocean.
ARIZONA | In our last report we told you about the mass casualty drills in Hawaii, now Arizona is the center of pre-Jade Helm action. For Operation Angel Thunder 15, crisis actors lined up to simulate flood victims and multinational forces created combat scenarios that stretched out to the pacific ocean.
by Stefan Gleason, MineWeb.com:
What’s driving the gold price? At the moment it seems to be a
succession of knee-jerk reactions to U.S financial data which push the
gold price up or down, depending on the perception as to whether the
data will likely bring the US Fed’s proposed interest rate rise
programme forward or move it backwards. It really isn’t a logical
situation – but where’s the logic in the precious metals markets anyway?
To many, gold is a relatively underutilised metal which works well as
jewellery, but nowadays has little else going for it apart from a long
history of monetary usage which nowadays may have had its time. Bankers
and economists discount its usefulness as such.
But much of the world still sees gold as the ultimate money and wealth protector and curiously, given the amount of bad press and supposed economic downgrading suggested by much of the financial establishment, the world’s top economic institutions – namely the world’s central banks – are still loath to part with it.
Read More @ MineWeb.com
What’s driving the gold price? At the moment it seems to be a
succession of knee-jerk reactions to U.S financial data which push the
gold price up or down, depending on the perception as to whether the
data will likely bring the US Fed’s proposed interest rate rise
programme forward or move it backwards. It really isn’t a logical
situation – but where’s the logic in the precious metals markets anyway?
To many, gold is a relatively underutilised metal which works well as
jewellery, but nowadays has little else going for it apart from a long
history of monetary usage which nowadays may have had its time. Bankers
and economists discount its usefulness as such.But much of the world still sees gold as the ultimate money and wealth protector and curiously, given the amount of bad press and supposed economic downgrading suggested by much of the financial establishment, the world’s top economic institutions – namely the world’s central banks – are still loath to part with it.
Read More @ MineWeb.com
from Citizen of Gotham:
by Christina Sarich, Natural Society:
We all really want to avoid the hormone-disrupting chemical bisphenol-A
(BPA), but it can be difficult to navigate the grocery store aisles
without accidentally putting a brand that still uses BPA in your cart. To help with this, the Environmental Working Group (EWG) has released a new report analyzing which brands continue to line their cans with BPA.
Some of the brands are surprising; some not so much. However, the number of brands using BPA is shocking. According to the EWG:
“78 brands, or 31 percent, used BPA-lined cans for all products. About 46 percent of the brands in this group did not say whether they were working with can suppliers or packaging manufacturers to shift to BPA-free cans or to test substitutes.”
Read More @ NaturalSociety.com
We all really want to avoid the hormone-disrupting chemical bisphenol-A
(BPA), but it can be difficult to navigate the grocery store aisles
without accidentally putting a brand that still uses BPA in your cart. To help with this, the Environmental Working Group (EWG) has released a new report analyzing which brands continue to line their cans with BPA.Some of the brands are surprising; some not so much. However, the number of brands using BPA is shocking. According to the EWG:
“78 brands, or 31 percent, used BPA-lined cans for all products. About 46 percent of the brands in this group did not say whether they were working with can suppliers or packaging manufacturers to shift to BPA-free cans or to test substitutes.”
Read More @ NaturalSociety.com
from KingWorldNews:
Since last Friday we have been enjoying a villa at Amelia Island,
Florida. It was Cheryl’s and my 45th wedding anniversary. The first
three days were great, but on Monday and Tuesday I had to work. That
“work” consisted of speaking at five different seminars for our Raymond
James offices, and our advisors/clients, in and around the Jacksonville,
Ponte Vedra and Saint Augustine areas.
All the presentations went well, but the reoccurring theme among the individual investors was best described by this email from one of our Financial Advisors (FAs). It read, “The client event last evening was a terrific event and provided great insight into the markets, investment climate and longer term outlook. As you are aware most of our clients are pretty concerned about the future of our markets and the economy – I see a lot of pessimism out there when I talk to clients – they are frightened! You did a great job of getting them to think beyond the overwhelming cynicism out there and focusing on where the opportunities are. Thank you for a great presentation!”
Jeffrey Saut continues @ KingWorldNews.com
Since last Friday we have been enjoying a villa at Amelia Island,
Florida. It was Cheryl’s and my 45th wedding anniversary. The first
three days were great, but on Monday and Tuesday I had to work. That
“work” consisted of speaking at five different seminars for our Raymond
James offices, and our advisors/clients, in and around the Jacksonville,
Ponte Vedra and Saint Augustine areas.All the presentations went well, but the reoccurring theme among the individual investors was best described by this email from one of our Financial Advisors (FAs). It read, “The client event last evening was a terrific event and provided great insight into the markets, investment climate and longer term outlook. As you are aware most of our clients are pretty concerned about the future of our markets and the economy – I see a lot of pessimism out there when I talk to clients – they are frightened! You did a great job of getting them to think beyond the overwhelming cynicism out there and focusing on where the opportunities are. Thank you for a great presentation!”
Jeffrey Saut continues @ KingWorldNews.com
by Pam Martens and Russ Martens, Wall Street on Parade:
New York University, which has been rocked by revelations of providing
multi-million dollar residences, forgivable mortgages, and sweet-deal,
in-house financing for luxurious vacation homes to an elite group of staff and faculty, is now linked to the Hillary and Bill Clinton cash-by-the-truckload scandal.
According to an analysis by the Washington Post, since leaving the White House in January 2001, Bill Clinton was paid $104.9 million for speaking fees through January 2013 when Hillary stepped down as Secretary of State. In addition, their nonprofit, the Clinton Foundation, has reported over $2 billion in donations from corporations and foreign governments around the world. In May, Hillary released a new financial disclosure form in conjunction with her candidacy for President. That form covered the period from January 2014 through May of this year, showing that the Clintons earned an additional $25 million for speeches.
Read More @ WallStreetonParade.com
New York University, which has been rocked by revelations of providing
multi-million dollar residences, forgivable mortgages, and sweet-deal,
in-house financing for luxurious vacation homes to an elite group of staff and faculty, is now linked to the Hillary and Bill Clinton cash-by-the-truckload scandal.According to an analysis by the Washington Post, since leaving the White House in January 2001, Bill Clinton was paid $104.9 million for speaking fees through January 2013 when Hillary stepped down as Secretary of State. In addition, their nonprofit, the Clinton Foundation, has reported over $2 billion in donations from corporations and foreign governments around the world. In May, Hillary released a new financial disclosure form in conjunction with her candidacy for President. That form covered the period from January 2014 through May of this year, showing that the Clintons earned an additional $25 million for speeches.
Read More @ WallStreetonParade.com
Iceland Imprisoned Its Bankers And Let Banks Go Bust: What Happened Next In 3 Charts
Submitted by Tyler Durden on 06/11/2015 - 19:00
How Obama Will Centrally-Plan Your Neighborhood: Here Comes The "Affirmatively Furthering Fair Housing" Rule
Submitted by Tyler Durden on 06/11/2015 - 15:05 Because centrally-planning the market and the double seasonally-adjusted economy was not enough, the Obama administration is now set to create a wealth-adjusted community utopia. According to The Hill, the administration is moving forward with regulations designed to help diversify America’s wealthier neighborhoods, such as building affordable housing in more affluent areas. The name of Obama's latest proposal to have the government centrally-plan your community? The Affirmatively Furthering Fair Housing rule. A name that only the person who penned the US Freedom Act could have come up with.
For Millennials, The Homeownership Dream Is Dying
Submitted by Tyler Durden on 06/11/2015 - 22:00 Homeownership rates for young adults in America are projected to decline steadily through at least 2030, a study shows. Contributing factors are low wage growth, shifting demographics, and of course, student debt.
'Who' Really Runs Your State?
Submitted by Tyler Durden on 06/11/2015 - 20:30 A state's economy is nothing without the businesses that call it home. However, these companies are not created equally - bigger businesses naturally have outsized influence, generating more revenue, employing more people and (at least theoretically) paying more taxes. So given that corporations are now 'people', who really runs your state in this crony-capitalist land of the free?
The Vacant Dead: The 50 US Cities With The Most "Zombie" Foreclosures
Submitted by Tyler Durden on 06/11/2015 - 20:01 For those concerned if their city is among the top most frequented by this particular, and very unpleasant, breed of "zombies", here are the top 50 cities in the US in which zombie foreclosures represent the highest percentage of all properties in foreclosure. For those readers certainly located among the Top 10, now may be a great time to hit a bid, any bid and get out while the getting is good.
Investing In Gold (Because Central Bankers Will Never Get Religion)
Submitted by Tyler Durden on 06/11/2015 - 19:30 Gold bugs weren’t wrong - just super early. If central banks ever got religion and pulled a Volcker and hiked rates to the moon, it would be a remarkably bad time to hold gold. However, throughout history, there have been times where people were very sad that they didn’t own gold. We talk about one of them here. It’s very real, and the history of fiat currencies is also quite sad.
29-Year-Old Pulls Off Biggest Biotech IPO In History With Glaxo Throwaway Drug
Submitted by Tyler Durden on 06/11/2015 - 17:46 What’s a company with no revenue, seven employees, and a $5 million throwaway drug worth in Janet Yellen’s “substantially stretched” biotech market? Billions, apparently.
Pope Pissed After Feds Force FATCA Down Vatican City Bankers' Throats
Submitted by Tyler Durden on 06/11/2015 - 16:30 While Pope Francis has called for an end of "the cult of money and the dictatorship of an economy," The Vatican City has been forced into sharing information with the US. Despite the oft-quoted Book of Proverbs prose that "[T]he borrower becomes the lender's slave," in the case of the world's largest borrower - the US government - it still acts like everyone’s master, including dictating the most ridiculous terms on financial agreements like this.
Report From Russian Cybersecurity Firm Links Israel To Nuclear Talk Spy Virus
Submitted by Tyler Durden on 06/11/2015 - 15:20 Moscow-based cybersecurity firm Kaspersky Lab has released a detailed report that outlines how spyware (which some suggest originated in Israel) was used to infiltrate the hotels that hosted the Iran nuclear negotiations. From the report: "Earlier this year, during a security sweep, Kaspersky Lab detected a cyber intrusion affecting several of its internal systems. Following this finding, we launched a large-scale investigation, which led to the discovery of a new malware platform. Notably, some of the new 2014-2015 infections are linked to the P5+1 events and venues related to the negotiations with Iran about a nuclear deal."
Gazprom Seeks A Way Around Ukraine By 2019
Submitted by Tyler Durden on 06/11/2015 - 14:40 Gazprom has vowed to entirely cut out Ukraine as a transit hub for natural gas exports to Europe. “We will not export gas via Ukraine after 2019. The customers will get gas at (newly) agreed delivery points,” Gazprom’s Deputy CEO Alexander Medvedev said on June 9.
As Goes AAPL, So Goes The Wealth Of America's 0.1%
Submitted by Tyler Durden on 06/11/2015 - 13:30 Given this morning's jubilant celebrations over the surge in household net worth - which as we noted earlier reflects the riuch getting richer (and implicitly the poor getting poorer) - we thought a quick look at who (or what) is responsible for this. It turns out that the correlation between AAPL and the stock market has never - ever - been higher. In other words, as goes AAPL, so goes the wealth of America's 0.1%...
Who Just Dumped Over $100 Million Of AAPL?
Submitted by Tyler Durden on 06/11/2015 - 12:43 Flash Crash? AAPL shares cracked lower on a huge sell order (of over $100 million) then rapidly recovered on de minimus volume... did Carl Icahn start dumping?
from The Daily Sheeple:
Not to be so doom and gloom, but there is clearly a definite
orchestrated push to ensure that vaccinations will be mandatory for
everyone in America in our near future.
Not just healthcare workers. Not just schoolchildren.
Everyone will be expected to get their shots, like it or not.
The American Medical Association (read: Rockefeller) just weighed in on the debate, not just voting against personal exemptions, but voting to “mobilize the organization” to persuade our state governments to strip away our medical rights across the country. Via Mother Jones:
Read More @ TheDailySheeple.com
Not to be so doom and gloom, but there is clearly a definite
orchestrated push to ensure that vaccinations will be mandatory for
everyone in America in our near future.Not just healthcare workers. Not just schoolchildren.
Everyone will be expected to get their shots, like it or not.
The American Medical Association (read: Rockefeller) just weighed in on the debate, not just voting against personal exemptions, but voting to “mobilize the organization” to persuade our state governments to strip away our medical rights across the country. Via Mother Jones:
Read More @ TheDailySheeple.com
by Alex Thomas, SHTFPlan:
As if things weren’t creepy enough already.
A new application of WiFi could take surveillance to the next level.
WiFi already makes a perfectly good tracking device – government and law enforcement agencies already collect location data from phones and computers – but ultimately, its accuracy is weak.
Now, MIT tech geeks have found a way to pinpoint location and track complex movement patterns with far greater accuracy – and what’s more, it can track people’s steps through walls, and the individuals or groups don’t even need to carry a cell phone!
Read More @ SHTFPlan.com
As if things weren’t creepy enough already.A new application of WiFi could take surveillance to the next level.
WiFi already makes a perfectly good tracking device – government and law enforcement agencies already collect location data from phones and computers – but ultimately, its accuracy is weak.
Now, MIT tech geeks have found a way to pinpoint location and track complex movement patterns with far greater accuracy – and what’s more, it can track people’s steps through walls, and the individuals or groups don’t even need to carry a cell phone!
Read More @ SHTFPlan.com
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