Submitted by Tyler Durden on 06/21/2015 - 13:16 “Systemic risk is in the system [and] we are in uncharted territory. Think about holding other assets. That could mean precious metals, it could mean physical currencies.”
Greek GDP: The Shocking Reality Vs IMF Forecasts; And Who Is To Blame For The Greek Implosion
Submitted by Tyler Durden on 06/21/2015 - 14:43 With a Greek default, shortly followed by a Grexit, a collapse of the "irreversible union" (but... but... "political capital"), and ultimately the end of the latest European monetary union experiment (the latest in a long and illustrious series of prior failures) now seemingly imminent, the blame game has begun. As the NYT noted overnight "the recriminations that would then fly would be so bitter that they would inflict a second round of damage." But who is really to blame? Simple: anyone and everyone who willingly and voluntarily was complicit with the great "can kicking" bailout fiction of the past 5 years...
Greece Told To Have A Deal Ready Before Monday Meeting; Tsipras Submits Revised Plan With No Pension Cuts
Submitted by Tyler Durden on 06/21/2015 - 09:25 With just under 24 hours until Monday's final summit after which even JPMorgan now agrees the ECB will be forced to use a nuclear option and limit or cut Greek ELA thus imposing capital controls as a "negotiating tactic", earlier today both France and Germany told Greece it must have a reform deal agreement with the Troika finalized and delivered before a crucial leaders’ summit between Athens and its creditors on Monday; in other words before trading opens on Monday.
Jim Rogers: Turmoil Is Coming
Submitted by Tyler Durden on 06/21/2015 - 13:15 "I suspect in the next year or two we will see some kind of major, major problems in the world financial markets. I would suspect when we have this correction, it's going to cause central banks to panic... they will print and spend and borrow, but there comes a time when people are just going to say 'We don’t want to play this game anymore'. And at that point, the world has serious, serious problems because there's nothing to rescue us. I suspect the next economic/financial collapse will be the one they can't deal with."
Watch out! That is what the headline said on the cover of the latest
edition of The Economist (June 13-19, 2015). The world is not ready for
the next recession. The Economist went on to declare “the fight against
financial chaos and deflation is won”….the IMF says, for the first time
since 2007 every advanced economy will expand…. Growth should exceed 2%
for the first time since 2010….and (the Fed) is likely to raise
rock-bottom interest rates.”Well that is the forecast of the IMF. The Economist doesn’t seem to be quite as optimistic as even their 2015 forecast is suggesting GDP growth of 2.3% for the US, 0.8% for Japan, 1.8% for Canada and 1.5% for the Euro zone. That seems a bit shy of 2% for the rich world. At least The Economist admitted there remains risk from the “Greek debt saga” to “China’s shaky markets”. But one of the big problems is that six years following the biggest financial crisis since the Great Depression the global economy is at best muddling along while the risks appear to be rising not falling.
Read More @ GoldSeek.com
UK Government Study Finds: If Nothing Is Done, Expect Civilizations' Collapse By 2040
Submitted by Tyler Durden on 06/21/2015 - 15:30 “We ran the model forward to the year 2040, along a business-as-usual trajectory based on ‘do-nothing’ trends - that is, without any feedback loops that would change the underlying trend. The results show that based on plausible climate trends, and a total failure to change course, the global food supply system would face catastrophic losses, and an unprecedented epidemic of food riots. In this scenario, global society essentially collapses as food production falls permanently short of consumption.”
Russia and Saudi Arabia signed six new cooperation deals last Thursday
in an event that signifies a reversal of Saudi Arabia’s relationship
with Russia under its new king. The six new cooperation agreements will
advance the relationship between the two countries in all areas of
commerce and included the areas of military and nuclear activities.Perhaps most significant was statement from Saudi Arabia’s oil minister, Ali al-Naimi, who issued a statement about advancing the cooperation between Saudi Arabia and Russian in the oil market:
This, in turn, will lead to creating a petroleum alliance between the two countries for the benefit of the international oil market as well as producing countries and stabilizing and improving the market.
Read More @ Investmentresearchdynamics.com
image: Russia-Insider.com
from Bloomberg, via Investment Watch Blog:
Texas Mobilizes state Militia against U.S Federal troops, wants Fed’s hands off everything Texas including it’s Gold
Texas Mobilizes state Militia against U.S Federal troops, wants Fed’s hands off everything Texas including it’s Gold
from DAHBOO777:
The Euro Does Not Have A Problem... It Is The Problem
Submitted by Tyler Durden on 06/21/2015 - 12:29 We have now reached the point where the euro does not have a problem – the euro is the problem. De-risking it should be a priority for European leaders, as it now poses a chronic risk to global financial stability. Either the outliers need to leave or the countries inside the eurozone needs to move down the pathway to full political, economic and monetary union.
America(*): Happy (Founding) Fathers Day
Submitted by Tyler Durden on 06/21/2015 - 11:45 Today’s America* is an ugly fraud. Today’s America* has nothing in common with the nostalgic images and grand successes of the nation as it were in her glory days. In fact, we would argue not only does America* lack any authentic representation of times past but is the antithesis of America. We have come full circle, back to the very thing our ancestors fought, died and ultimately persevered to escape.
NATO Conducts Rehearsal For Ukraine Siege: Mapping All NATO Drills Near Russia Since 2014
Submitted by Tyler Durden on 06/21/2015 - 10:58 Amid escalating violence in Ukraine and stepped up efforts by the Pentagon to rally support for Washington's increasingly aggressive posturing towards Moscow, NATO conducts war games in Poland designed to replicate the conflict in Ukraine.
Meanwhile, Greece Is Quietly Printing Billions Of Euros
Submitted by Tyler Durden on 06/20/2015 - 23:32 During the same period over which Greek banks lost nearly €30 billion in deposits, banknotes in circulation jumped by some €13 billion. In short, because Greeks are increasingly prone to stuffing their euros in mattresses, a large proportion of the deposit flight has come in the form of hard currency withdrawals, meaning the Bank of Greece is forced to (literally) print billions in physical banknotes.
Paul Craig Roberts: "Washington Is Impotent To Prevent Armageddon"
Submitted by Tyler Durden on 06/20/2015 - 22:00 The West is impotent to prevent Armageddon. It is up to Russia and China, and as Washington has framed the dilemma, Armageddon can only be prevented by Russia and China accepting vassal status. This is not going to happen. Why would any self-respecting people submit to the corrupt West? The hope is that Washington will cause its European vassals to rebel by pushing them too hard into conflict with Russia. If European politicians were to break from Washington’s hegemony and instead represent European interests, Washington would be deprived of cover for its war crimes. The breakdown of the neoconservative unipower model would then be apparent even to Washington, and the world would become a safer and better place.
from KingWorldNews:
Wall Street carnival barkers are relishing in the fantasy that the
economy has finally achieved escape velocity. Therefore, they accept
with alacrity that this is the primary reason why interest rates have
started to rise. However, the fact still remains that for the first half
of 2015 GDP growth will probably be less than 1%….
GDP contracted by 0.7% in the first quarter of 2015. The Atlanta Fed, whose GDP Now calculation has been on the money, now sees second quarter growth at 1.9%. Therefore, it is prudent to conclude the most optimistic case for growth in the first half of the year will be about 1%. Of course, the perpetually upbeat economists on Wall Street are always convinced the economy will skyrocket in the second half of each year. But still, if the Atlanta Fed is correct—and it looks like it will be spot on given the anemic data already released for April and May—annualized GDP for the first two quarters of 2015 will be running at a pace that is less than half of the 2.2% growth averaged since 2010.
Michael Pento Continues @ KingWorldNews.com
Wall Street carnival barkers are relishing in the fantasy that the
economy has finally achieved escape velocity. Therefore, they accept
with alacrity that this is the primary reason why interest rates have
started to rise. However, the fact still remains that for the first half
of 2015 GDP growth will probably be less than 1%….GDP contracted by 0.7% in the first quarter of 2015. The Atlanta Fed, whose GDP Now calculation has been on the money, now sees second quarter growth at 1.9%. Therefore, it is prudent to conclude the most optimistic case for growth in the first half of the year will be about 1%. Of course, the perpetually upbeat economists on Wall Street are always convinced the economy will skyrocket in the second half of each year. But still, if the Atlanta Fed is correct—and it looks like it will be spot on given the anemic data already released for April and May—annualized GDP for the first two quarters of 2015 will be running at a pace that is less than half of the 2.2% growth averaged since 2010.
Michael Pento Continues @ KingWorldNews.com
The Banker Bastards and Governments Rely on the Sheeplez to do "Exactly The Wrong Thing At Exactly The Wrong Time...
"Investing" Simplified
Submitted by Tyler Durden on 06/21/2015 - 14:02 Where do you think we are?
In the past, I have written about the never ending list of things to
do, the frantic pace of organizing preps, and the never ending quest to
learn just one more sustainable skill. Couple all of that with the
burden of truth and knowledge that keeps you awake at night, and you
have a recipe for frustration, exhaustion, and burn out.There goes those words again. Prepper burn out.
The truth is we all have a need for quiet, reflective, time whether we know it or not. It is during that reflective time that we can think, really think, and focus on what is really important. Is learning ten different ways to start a fire so important when all you really need is three? And who do you believe? Is there any one expert? Or is everyone a beginner of sorts?
Read More @ Thesleuthjournal.com
Next week will be a momentous one for Europe, with a string of crucial meetings including the summit at which the PM will table his renegotiation demands. We may be focused on our renegotiation but it is Greece which will dominate. For some time it has looked as though the Greek drama must reach its final denouement. But the Greeks have become highly skilled at managing to push back deadlines ever further into the future. Whether Greece leaves the euro or stays in, a decision surely cannot be delayed much longer. So what will this mean for the EU?
I had the privilege of negotiating Britain’s opt-out from the then new European single currency in 1991. My abiding memory is how clear it was that the euro had nothing to do with economics and was a political project with a dubious rationale. Some representatives of other countries were openly sceptical, but their political masters were firmly in control.
Read More @ DavidStockmansContraCorner.com
In his speech at the St Petersburg International Economic Forum, Putin
identified the root cause of the rising tensions that have come to
characterize relations between Russia and the West, responsible for
hurtling the world toward another Cold War.The hegemony long enjoyed by Washington, with the support of its allies, is now being challenged by a multipolar consensus around the world. In this multipolar world, every state enjoys parity, equal respect, and security under international law; and national sovereignty is returned to the status of an inalienable right, as enshrined in the UN Charter, rather than being a gift in the hands of the United States, the EU and NATO.
Read More @ RT.com
by Dave Hodges, The Common Sense Show:
Do you remember when Detroit when bankrupt and President Obama refused
to intervene in order to help Americans in a beleaguered American city?
This was both baffling and maddening to the American people. After all,
this “hope and change” President promised to fundamentally transform
America. Little did we realize that the Detroit bankruptcy would open
the floodgates to the total foreign control of American’s most precious
resource, namely water, where the UN has gained a significant foothold
in Detroit and its influence is spreading across the country. When Obama
refused to help Detroit’s bankruptcy and its ensuing water crisis,
subsequent UN involvement was a portend of what was coming.
Read More
Do you remember when Detroit when bankrupt and President Obama refused
to intervene in order to help Americans in a beleaguered American city?
This was both baffling and maddening to the American people. After all,
this “hope and change” President promised to fundamentally transform
America. Little did we realize that the Detroit bankruptcy would open
the floodgates to the total foreign control of American’s most precious
resource, namely water, where the UN has gained a significant foothold
in Detroit and its influence is spreading across the country. When Obama
refused to help Detroit’s bankruptcy and its ensuing water crisis,
subsequent UN involvement was a portend of what was coming.Read More
from The Money GPS:
by Rob Horgan, The Olive Press:
FRENCH police have been ordered to track down one of Europe’s
wealthiest aristocrats over a fraud involving hundreds of British
pensioners.
Baron David de Rothschild has been indicted over the allegations after the victims, mostly expats living in Spain, bought into his loan scheme. The banking magnate will now be questioned in his native France, five years after a Marbella-based law firm began legal action against him.
French police have been told by a judge in Paris to track down the wealthy scion who has various homes in the country.
Read More @ TheOlivePress.es
hat tip: Rense
FRENCH police have been ordered to track down one of Europe’s
wealthiest aristocrats over a fraud involving hundreds of British
pensioners. Baron David de Rothschild has been indicted over the allegations after the victims, mostly expats living in Spain, bought into his loan scheme. The banking magnate will now be questioned in his native France, five years after a Marbella-based law firm began legal action against him.
French police have been told by a judge in Paris to track down the wealthy scion who has various homes in the country.
Read More @ TheOlivePress.es
hat tip: Rense
from FreedomFighter2127:
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