Submitted by Tyler Durden on 06/16/2015 - 07:42
European leaders may convene an emergency summit this Sunday to decide Greece's fate as Varoufakis says no new proposal from Athens will be tabled at Thursday's meeting of EU finance ministers. With capital controls now imminent, and with Greece reportedly set to delay a June 30 IMF payment, a "Lehman Weekend" looms.
"Eurozone Breakup" Fears Soar As Fund Managers Now Think Probability Of Greek Deal Same As Default
Submitted by Tyler Durden on 06/16/2015 - 10:05 While the optimistic bias is shifting, if slowly, one place where the "fund managers" are at least admitting that things are changing for the worse in Europe is their latest, June, estimation of the biggest tail risks. Here, while "geopolitical crisis" and a behind-the-curve Fed still remain in the top two "tail risks", at 21% and 20% respectively, just as they were last month, what is concerning is the third most prevalent fear which, at 18%, is a Eurozone breakup. It is notable that one month ago this fear did not even register, suggesting just how fragile the Eurozone was and still remains.
Tsipras Slams "Criminal" IMF In Defiant Speech
Submitted by Tyler Durden on 06/16/2015 - 08:22 In the wake of reports that Greece could be headed for a "Lehman Weekend" complete with capital controls and an "emergency" Sunday meeting, the headlines are coming fast and furious on Tuesday morning, with Tsipras calling the IMF's stance "criminal" and Merkel digging in for the worst.
OMT Decision By EU Top Court Sets Europe On Renewed "Collision Course" With Germany
Submitted by Tyler Durden on 06/16/2015 - 08:09 As expected, earlier today the pro-ECB top European Union court found that Draghi's impromptu announcement of an OMT, which was basically the wrapping of his "whatever it takes" policy from 2012 to prevent the collapse of the Eurozone when peripheral bond yields were hitting daily records, was perfectly legal.Fannie Mae Is At It Again: Loan-To-Value Ratio Now Higher Than During Housing Bubble
Submitted by Tyler Durden on 06/16/2015 - 12:15 Will we never learn...
US Opens With Panic-Buying Algo Stop Run
Submitted by Tyler Durden on 06/16/2015 - 09:49 Deja vu all over again... because a resoundingly defiant tone from Tsipras is just what the algos needed to jerk futures up to yesterday's highs and run the stops...
Russian Pivot: Greek PM Schedules Putin Meeting Ahead Of "Lehman Weekend"
Submitted by Tyler Durden on 06/16/2015 - 09:40 With his back against the wall, and with Syriza party hardliners apparently no closer to backing concessions, Alexis Tsipras looks set to once again play the ‘Russian pivot” card, as the Kremlin says a “working meeting” between the Greek PM and Russian President Vladimir Putin is now scheduled for Friday in St. Petersburg.
"Major" Equity Index Breaking Down
Submitted by Tyler Durden on 06/16/2015 - 09:23 For all of the longer-term, ancillary red flags and concerns that have materialized in the latter portion of this cyclical bull market (many of which, we have laid out), bulls have had the same response: price is all that matters. It appears to us, however, that a great many bulls preaching “price patience” have failed to recognize one thing: there is already evidence of a breakdown in prices. The “stock market” consists of many segments, not just the S&P 500, So it depends where you are looking.
from KingWorldNews:
This could be a wild week. The volatility has already started, but
there is a good chance for more turbulence to come as the week wears on.
The overriding event of course is Greece, which is slowly inching into a
default on its massive €320 billion of debt as it lives day-by-day with
the threat of a bank bail-in hanging over its head. Add to that
unstable situation a 2-day FOMC meeting ending Wednesday.
The United States Is Bankrupt If Rates Rise
My point has been that the Federal Reserve cannot raise rates because the US government cannot afford to pay a fair rate of interest. It is too overleveraged and spending too much money it doesn’t have. Mr Bernanke was telling everyone rates would be raised when unemployment fell below 6.5%, a target that has long since passed. You will recall it was only a few months ago that the Fed was telling everyone to expect an increase in interest rates to be announced at this week’s meeting. That’s a remote possibility now, with the consensus saying rates won’t increase until the end of the year. So the Fed no longer has any credibility, which is the risk that needs identifying.
James Turk continues @ KingWorldNews.com
This could be a wild week. The volatility has already started, but
there is a good chance for more turbulence to come as the week wears on.
The overriding event of course is Greece, which is slowly inching into a
default on its massive €320 billion of debt as it lives day-by-day with
the threat of a bank bail-in hanging over its head. Add to that
unstable situation a 2-day FOMC meeting ending Wednesday.The United States Is Bankrupt If Rates Rise
My point has been that the Federal Reserve cannot raise rates because the US government cannot afford to pay a fair rate of interest. It is too overleveraged and spending too much money it doesn’t have. Mr Bernanke was telling everyone rates would be raised when unemployment fell below 6.5%, a target that has long since passed. You will recall it was only a few months ago that the Fed was telling everyone to expect an increase in interest rates to be announced at this week’s meeting. That’s a remote possibility now, with the consensus saying rates won’t increase until the end of the year. So the Fed no longer has any credibility, which is the risk that needs identifying.
James Turk continues @ KingWorldNews.com
Stock Broker Tried To Swindle $1.8 Million From Client With Alzheimer's
Submitted by Tyler Durden on 06/16/2015 - 10:47
Corporations, individuals and the federal government continue to rack
up debt at a rate that is far faster than the overall rate of economic
growth. We are literally drowning in red ink from sea to shining sea,
and yet we just can’t help ourselves. Consumer credit has doubled since
the year 2000. Student loan debt has doubled over the course of the
past decade. Business debt has doubled since 2006.
And of course the debt of the federal government has doubled since
2007. Anyone that believes that this is “sustainable” in any way, shape
or form is crazy. We have accumulated the greatest mountain of debt
that the world has ever seen, and yet despite all of the warnings we
just continue to race forward into financial oblivion. There is no
possible way that this is going to end well.Read More…
Even though she launched her campaign for President two months ago with a YouTube video followed by a number of intimate gatherings with pre-screened “voters” in tightly choreographed settings, Hillary Clinton on Saturday held what was termed her official campaign kickoff. Speaking to a crowd of several thousand on New York’s Roosevelt Island, Clinton laid out her case for being elected to the nation’s highest office, hitting on a predictable array of progressive and populist themes.
It didn’t take long for one GOP presidential contender — former HP CEO Carly Fiorina — to lay out her case as to why the Clinton speech was “deeply contradictory.” According to coverage in the New York Daily News of the criticism leveled by the only other woman in the 2016 race:
Read More @ WesternJournalism.com
from Wholesale Direct Metals:
The days of banks being trusted institutions to help protect your
savings & retirement are over. First, it was the banks gambling on
derivatives that blew up the global economy in 2008 and cost citizens
trillions in savings & retirement. Then, it was the banks turning
over customer accounts to the IRS & police for total seizure without
due process of law. Next came reports that banks are abolishing our
ability to use & store cash. And now comes a frightening report
that banks have agreed to pay $81 BILLION in restitution & penalties
for criminal & civil abuses against the public and their own
customers. So more than ever, if you want real protection of your
savings & retirement, you better move it out of the bank. Fast.
Read More @ wholesaledirectmetals.com
The days of banks being trusted institutions to help protect your
savings & retirement are over. First, it was the banks gambling on
derivatives that blew up the global economy in 2008 and cost citizens
trillions in savings & retirement. Then, it was the banks turning
over customer accounts to the IRS & police for total seizure without
due process of law. Next came reports that banks are abolishing our
ability to use & store cash. And now comes a frightening report
that banks have agreed to pay $81 BILLION in restitution & penalties
for criminal & civil abuses against the public and their own
customers. So more than ever, if you want real protection of your
savings & retirement, you better move it out of the bank. Fast.Read More @ wholesaledirectmetals.com
from Truth Never Told:
by Shawn Helton, Global Research:
Although
the House of Representatives voted down legislation to “fast-track”
trade deals through Congress – it appears the TPP may have already
secured its future with millions in donations made to US Senators since
the start of the year…
The Trans-Pacific Partnership (TPP) trade deal negotiations hit the mainstream over the past month with a US Senate approval of the controversial trade bill in late May.
As Washington leaders continue their show trial-like debate over the TPP, with the House voting against fast-tracking trade authority, the Washington Post disclosed that there’s already a ‘planned do-over vote‘ slated for next week.
Read More @ GlobalResearch.ca
Although
the House of Representatives voted down legislation to “fast-track”
trade deals through Congress – it appears the TPP may have already
secured its future with millions in donations made to US Senators since
the start of the year…The Trans-Pacific Partnership (TPP) trade deal negotiations hit the mainstream over the past month with a US Senate approval of the controversial trade bill in late May.
As Washington leaders continue their show trial-like debate over the TPP, with the House voting against fast-tracking trade authority, the Washington Post disclosed that there’s already a ‘planned do-over vote‘ slated for next week.
Read More @ GlobalResearch.ca
from WhyGoldandSilver:
by Katherine Frisk, The Phaser:
Keep in mind that for over a 1,000 years starting with the crusades,
the Vatican has attempted to bring Jerusalem under their complete
control as it once was under the Roman Empire during the first century
A.D.
Also keep in mind that the Founding Fathers of the USA Constitution disallowed a Vatican Embassy in D.C. upholding a policy of separation between church and state and freedom of religious belief, something John F Kennedy agreed with when he stated, “I might be a Catholic but I do not take orders from a priest.”
During Ronald Reagan’s Presidency the Vatican finally achieved a long sort after objective and has had an embassy in Washington D.C. ever since. According to Jim Willie from The Golden Jackass.com in a recent interview, Obama and most Presidents before him have been given a billion dollar Vatican untraceable account for their services. Considering that the Vatican has major shareholding and interests in Bank of America, Lockheed Martin and in all likelihood the NSA which is a 21st century version of the confessional to name a few, how much support does the TPP and the TTIP have from the Vatican bank and is there a Jesuit hand behind these trade deals?
Read More @ ThePhaser.com
Keep in mind that for over a 1,000 years starting with the crusades,
the Vatican has attempted to bring Jerusalem under their complete
control as it once was under the Roman Empire during the first century
A.D.Also keep in mind that the Founding Fathers of the USA Constitution disallowed a Vatican Embassy in D.C. upholding a policy of separation between church and state and freedom of religious belief, something John F Kennedy agreed with when he stated, “I might be a Catholic but I do not take orders from a priest.”
During Ronald Reagan’s Presidency the Vatican finally achieved a long sort after objective and has had an embassy in Washington D.C. ever since. According to Jim Willie from The Golden Jackass.com in a recent interview, Obama and most Presidents before him have been given a billion dollar Vatican untraceable account for their services. Considering that the Vatican has major shareholding and interests in Bank of America, Lockheed Martin and in all likelihood the NSA which is a 21st century version of the confessional to name a few, how much support does the TPP and the TTIP have from the Vatican bank and is there a Jesuit hand behind these trade deals?
Read More @ ThePhaser.com
from ZenGardner:
Problem-reaction-solution, the Hegelian Dialectic is that process the
globalist ruling class have chosen to use as the primary tool to
constantly change society in the direction they want it to go. They
manufacture a problem, focus on that problem, then sell the solution.
The solution is always the very thing that drives their plan forward.
In this day and age the fundamentals of basic knowledge and awareness of what is happening in the world can be gauged by someone’s awareness of the Hegelian Dialectic. If someone is not aware of this powerful tool used by the controllers it is likely they are not aware of a lot of other things. For this reason the basics of the Hegelian Dialectic cannot be underscored enough in explaining major agendas today.
Read More @ ZenGardner.com
Problem-reaction-solution, the Hegelian Dialectic is that process the
globalist ruling class have chosen to use as the primary tool to
constantly change society in the direction they want it to go. They
manufacture a problem, focus on that problem, then sell the solution.
The solution is always the very thing that drives their plan forward.In this day and age the fundamentals of basic knowledge and awareness of what is happening in the world can be gauged by someone’s awareness of the Hegelian Dialectic. If someone is not aware of this powerful tool used by the controllers it is likely they are not aware of a lot of other things. For this reason the basics of the Hegelian Dialectic cannot be underscored enough in explaining major agendas today.
Read More @ ZenGardner.com
by Koos Jansen, Bullion Star:
I’ve
found more detailed rules on the workings of the Chinese gold market
regarding, (i) the use of onshore renminbi for contracts traded on the
Shanghai International Gold Exchange (SGEI), (ii) gold sales of Chinese
domestic gold mines. Previously I’ve written posts on these subjects
that contained inaccurate information that I would like to correct. (My
previous posts are already corrected.)
First, let’s have a quick look at the latest Shanghai Gold Exchange (SGE) withdrawal numbers. In week 22 (June 1 – 5) withdrawals came down 12 % from the week before at 32 metric tonnes. Year to date 1,015 tonnes have been withdrawn. The current downtrend is completely normal as seasonally the summer months are quiet in the Chinese gold market, as opposed to the months around new year.
Read More @ BullionStar.com
I’ve
found more detailed rules on the workings of the Chinese gold market
regarding, (i) the use of onshore renminbi for contracts traded on the
Shanghai International Gold Exchange (SGEI), (ii) gold sales of Chinese
domestic gold mines. Previously I’ve written posts on these subjects
that contained inaccurate information that I would like to correct. (My
previous posts are already corrected.)First, let’s have a quick look at the latest Shanghai Gold Exchange (SGE) withdrawal numbers. In week 22 (June 1 – 5) withdrawals came down 12 % from the week before at 32 metric tonnes. Year to date 1,015 tonnes have been withdrawn. The current downtrend is completely normal as seasonally the summer months are quiet in the Chinese gold market, as opposed to the months around new year.
Read More @ BullionStar.com
by Kit Daniels, Infowars:
Suspended Nightly News anchor Brian Williams shouldn’t be held to a
high journalistic standard because he’s just “a performer,” according to
veteran journalist and columnist Michael Wolff.
Wolff believes Williams’ punishment over the Iraq War helicopter incident “vastly outweighed his crimes” because he’s not a journalist.
“Williams is not a journalist; he’s a performer,” Wolff told the New York Times Magazine. “Nobody does any reporting — it’s the evening news, for goodness’ sake.”
He also said he’d laugh if asked if NBC has a “obligation” to uphold the highest of journalistic standards.
Read More @ Infowars.com
Suspended Nightly News anchor Brian Williams shouldn’t be held to a
high journalistic standard because he’s just “a performer,” according to
veteran journalist and columnist Michael Wolff.
Wolff believes Williams’ punishment over the Iraq War helicopter incident “vastly outweighed his crimes” because he’s not a journalist.
“Williams is not a journalist; he’s a performer,” Wolff told the New York Times Magazine. “Nobody does any reporting — it’s the evening news, for goodness’ sake.”
He also said he’d laugh if asked if NBC has a “obligation” to uphold the highest of journalistic standards.
Read More @ Infowars.com
by Jonathan Benson, Natural News:
The modern American food supply is a tortuous minefield of synthetic
additives, toxic flavoring agents and artificially engineered
ingredients that are making people sick. And the following eight food
corporations, rounded out by the world’s most evil corporation Monsanto,
are among the worst offenders when it comes to not only using these
poisons in their products but also lying about their presence to
consumers.
ConAgra Foods. This prolific processed food brand, which boasts a presence in 99% of American households, is guilty of lying about the nature of its food products. The claim that ConAgra food products are “made with all natural ingredients” is patently false, and the company has been repeatedly convicted of selling tainted food to consumers.
General Mills. Besides actively lobbying against legislation to require labeling for genetically modified organisms (GMOs), General Mills sees no problem using toxic ingredients like trisodium phosphate (TSP), butylated hydroxytoluene (BHT) and, of course, GMOs in its many product lines, including those marketed to children.
Read More @ NaturalNews.com
The modern American food supply is a tortuous minefield of synthetic
additives, toxic flavoring agents and artificially engineered
ingredients that are making people sick. And the following eight food
corporations, rounded out by the world’s most evil corporation Monsanto,
are among the worst offenders when it comes to not only using these
poisons in their products but also lying about their presence to
consumers.ConAgra Foods. This prolific processed food brand, which boasts a presence in 99% of American households, is guilty of lying about the nature of its food products. The claim that ConAgra food products are “made with all natural ingredients” is patently false, and the company has been repeatedly convicted of selling tainted food to consumers.
General Mills. Besides actively lobbying against legislation to require labeling for genetically modified organisms (GMOs), General Mills sees no problem using toxic ingredients like trisodium phosphate (TSP), butylated hydroxytoluene (BHT) and, of course, GMOs in its many product lines, including those marketed to children.
Read More @ NaturalNews.com
by Terence P. Jeffrey, CNSnews:
The portion of the federal debt that is subject to a legal limit set by
Congress closed Thursday, June 11, at $18,112,975,000,000, according to the latest Daily Treasury Statement, which was published at 4:00 p.m. on Friday.
That, according to the Treasury’s statements, makes 90 straight days the debt subject to the limit has been frozen at $18,112,975,000,000.
$18,112,975,000,000 is about $25 million below the current legal debt limit of $18,113,000,080,959.35.
The Daily Treasury Statement for March 13 was the first to show the federal debt subject to the limit closing the day at $18,112,975,000,000. Every Daily Treasury Statement since then has reported the same thing: the debt closing the day at $18,112,975,000,000.
Every Daily Treasury Statement since Monday, March 16, has reported the debt beginning and ending each day at $18,112,975,000,000.
Read More @ CNSnews.com
The portion of the federal debt that is subject to a legal limit set by
Congress closed Thursday, June 11, at $18,112,975,000,000, according to the latest Daily Treasury Statement, which was published at 4:00 p.m. on Friday.That, according to the Treasury’s statements, makes 90 straight days the debt subject to the limit has been frozen at $18,112,975,000,000.
$18,112,975,000,000 is about $25 million below the current legal debt limit of $18,113,000,080,959.35.
The Daily Treasury Statement for March 13 was the first to show the federal debt subject to the limit closing the day at $18,112,975,000,000. Every Daily Treasury Statement since then has reported the same thing: the debt closing the day at $18,112,975,000,000.
Every Daily Treasury Statement since Monday, March 16, has reported the debt beginning and ending each day at $18,112,975,000,000.
Read More @ CNSnews.com
/
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