Submitted by Tyler Durden on 06/20/2015 - 11:32 "If no agreement is reached on Monday, then the ECB will have little reason to show further flexibility and it will likely freeze its ELA limit on Greek banks. As a result capital controls will become almost inevitable after Monday."
Greek prime minister reaches out to Vladimir Putin for help in financial crisis
by Mark Rice-Oxley, The Guardian:
Alexis Tsipras, the Greek prime minister, has made a broad overture to
Russia as he seeks a way out of his country’s debt and currency impasse,
telling Vladimir Putin that Greece wants new partners to help it out of the crisis.
In a speech delivered in front of Putin in Russia, Tsipras said Moscow was one of Greece’s most important partners, and dismissed critics who wondered why he was in St Petersburg and not in Brussels trying to secure an urgent deal with European creditors.
“As all of you are fully aware, we are at the moment at the centre of a storm, of a whirlpool, but we live near the sea so we’re not scared of storms. We are ready to go to new seas to reach new safe ports,” he added, in a subtle nod to his hosts.
Read More @ TheGuardian.com
by Mark Rice-Oxley, The Guardian:
Alexis Tsipras, the Greek prime minister, has made a broad overture to
Russia as he seeks a way out of his country’s debt and currency impasse,
telling Vladimir Putin that Greece wants new partners to help it out of the crisis.In a speech delivered in front of Putin in Russia, Tsipras said Moscow was one of Greece’s most important partners, and dismissed critics who wondered why he was in St Petersburg and not in Brussels trying to secure an urgent deal with European creditors.
“As all of you are fully aware, we are at the moment at the centre of a storm, of a whirlpool, but we live near the sea so we’re not scared of storms. We are ready to go to new seas to reach new safe ports,” he added, in a subtle nod to his hosts.
Read More @ TheGuardian.com
from The Money GPS:
from Wolf Street:
There seems to be a growing willingness in the Eurozone to get this
over with, to let Greece default and go from there – with all the
options that this might entail. But even if a last-minute bailout
agreement materializes, one thing stands out in this sea of chaotic
uncertainty: Greek banks are toast.
The top four – National Bank of Greece, Piraeus Bank, Alpha Bank, and Eurobank Ergasias – account for 91% of Greek banking assets. They’ve already been bailed out twice. Their shares are penny stocks. They have two toxic problems: liquidity and solvency. Either one can topple them.
Read More @ Wolfstreet.com
There seems to be a growing willingness in the Eurozone to get this
over with, to let Greece default and go from there – with all the
options that this might entail. But even if a last-minute bailout
agreement materializes, one thing stands out in this sea of chaotic
uncertainty: Greek banks are toast.The top four – National Bank of Greece, Piraeus Bank, Alpha Bank, and Eurobank Ergasias – account for 91% of Greek banking assets. They’ve already been bailed out twice. Their shares are penny stocks. They have two toxic problems: liquidity and solvency. Either one can topple them.
Read More @ Wolfstreet.com
from Money and Markets:
When the money dries up, it’s “Game Over.” And that’s what Greece is facing now that bank runs are accelerating rapidly!
Consumer and business depositors have reportedly yanked 1.85 billion euros from the Greek banking system in just the last two days. That’s more than 115 million euros PER HOUR, assuming two eight-business-hour days.
More than 2% of all the private money held in Greek banks has now vanished in just the last week. The only thing standing between banks and insolvency is the European Central Bank, which is providing them with emergency liquidity assistance (ELA) since they can’t raise money in the private capital markets.
Read More @ MoneyandMarkets.com
When the money dries up, it’s “Game Over.” And that’s what Greece is facing now that bank runs are accelerating rapidly!Consumer and business depositors have reportedly yanked 1.85 billion euros from the Greek banking system in just the last two days. That’s more than 115 million euros PER HOUR, assuming two eight-business-hour days.
More than 2% of all the private money held in Greek banks has now vanished in just the last week. The only thing standing between banks and insolvency is the European Central Bank, which is providing them with emergency liquidity assistance (ELA) since they can’t raise money in the private capital markets.
Read More @ MoneyandMarkets.com
by Ambrose Evans-Pritchard, The Telegraph:
Rarely in modern times have we witnessed such a display of petulance
and bad judgment by those supposed to be in charge of global financial
stability, and by those who set the tone for the Western world.
The spectacle is astonishing. The European Central Bank, the EMU bail-out fund, and the International Monetary Fund, among others, are lashing out in fury against an elected government that refuses to do what it is told. They entirely duck their own responsibility for five years of policy blunders that have led to this impasse. They want to see these rebel Klephts hanged from the columns of the Parthenon – or impaled as Ottoman forces preferred, deeming them bandits – even if they degrade their own institutions in the process.
Rarely in modern times have we witnessed such a display of petulance
and bad judgment by those supposed to be in charge of global financial
stability, and by those who set the tone for the Western world.The spectacle is astonishing. The European Central Bank, the EMU bail-out fund, and the International Monetary Fund, among others, are lashing out in fury against an elected government that refuses to do what it is told. They entirely duck their own responsibility for five years of policy blunders that have led to this impasse. They want to see these rebel Klephts hanged from the columns of the Parthenon – or impaled as Ottoman forces preferred, deeming them bandits – even if they degrade their own institutions in the process.
If we want to date the moment when the Atlantic liberal
order lost its authority – and when the European Project ceased to be a
motivating historic force – this may well be it. In a sense, the Greek
crisis is the financial equivalent of the Iraq War, totemic for the
Left, and for Souverainistes on the Right, and replete with its own
“sexed up” dossiers.
Read More @ Telegraph.co.uk
Read More @ Telegraph.co.uk
from The Richie Allen Show:
from Stefan Molyneux:
from Jeff Nielson, Bullion Bulls:
Most people think
that they know what inflation is: it’s when “prices go up”. In fact;
the price-spiral that people see is not “inflation”. It is simply the
most-visible consequence of inflation. The actual, economicdefinition of “inflation” is to increase (or “inflate”) the supply of money.
The bankers who rule us, our sycophant leaders, and the parrots of the Corporate media never mention the real definition of inflation. In fact; it is one of the most-guarded secrets of this corrupt hierarchy. The reason for hiding this Truth from us is that once people understand the actual definition of inflation, this would immediately explain to them why prices are rising (and currently rising at the most-rapid rate of our lifetime).
What happens any time someone adds more water to a pitcher of lemonade? The lemonade becomes diluted as a result of inflating the supply of water.
Read More @ Bullionbullscanada.com
Most people think
that they know what inflation is: it’s when “prices go up”. In fact;
the price-spiral that people see is not “inflation”. It is simply the
most-visible consequence of inflation. The actual, economicdefinition of “inflation” is to increase (or “inflate”) the supply of money.The bankers who rule us, our sycophant leaders, and the parrots of the Corporate media never mention the real definition of inflation. In fact; it is one of the most-guarded secrets of this corrupt hierarchy. The reason for hiding this Truth from us is that once people understand the actual definition of inflation, this would immediately explain to them why prices are rising (and currently rising at the most-rapid rate of our lifetime).
What happens any time someone adds more water to a pitcher of lemonade? The lemonade becomes diluted as a result of inflating the supply of water.
Read More @ Bullionbullscanada.com
from WallStForMainSt:
All The World's Investable Assets In Context
Submitted by Tyler Durden on 06/20/2015 - 11:29 We decided to do a little research to find out the size of different investable asset classes globally, to try to get some color on the money flows in this extraordinary period. The data is from various dates from 2013 to 2014, but the differences don’t matter much.
Black Box Trading: Why They All “Blow-Up”
Submitted by Tyler Durden on 06/20/2015 - 10:13 Strong Conviction + Low Volatility + High Levels/Low Costs of Leverage [irrespective of Dodd-Frank] + More Absolute Capital at Risk + Increased Concentration of “At Risk” capital + “Doing the Same Thing" = combustible market cocktail.from The Victory Report:
by Michael Noonan, Edge Trader Plus:
Obama is fast-tracking the Western world’s freedom out of existence.
If ever anyone questioned who this person works for, and it would be the
elite’s world bankers, here is solid proof of where Obama’s loyalties
lie, and when one thinks of the word “lie,” his name immediately comes
to mind.
The first question to ask is cui bono? [to whose benefit?]. Listening to Obama, “There will be 100,000 jobs created by the TPP [Trans Pacific Partnership, which just happens to exclude two of the world’s largest economies, China and Russia]. Bear in mind, Obama is not just focused on TPP.
Read More @ EdgeTraderPlus.com
Obama is fast-tracking the Western world’s freedom out of existence.
If ever anyone questioned who this person works for, and it would be the
elite’s world bankers, here is solid proof of where Obama’s loyalties
lie, and when one thinks of the word “lie,” his name immediately comes
to mind.The first question to ask is cui bono? [to whose benefit?]. Listening to Obama, “There will be 100,000 jobs created by the TPP [Trans Pacific Partnership, which just happens to exclude two of the world’s largest economies, China and Russia]. Bear in mind, Obama is not just focused on TPP.
Read More @ EdgeTraderPlus.com
from Western Journalism:
After the Republican-controlled Senate foolishly passed the so-called
“Obamatrade” bill, the House leadership (John Boehner, Steve Scalise,
Paul Ryan, et al.) worked their tails off to pass the bill. But a
majority of Democrats and liberty-minded Republicans (small in number)
rallied in opposition to the bill and voted it down. HOORAY! In this
case, it was mostly Democrats who saved the day!
I have been saying for years that people who think the Republican establishment is a friend to liberty are extremely naïve. On issues regarding so-called “free trade” (it’s NOT free trade; it’s globalism masquerading as free trade), the Warfare State, deficit spending, globalism, and civil liberties, the Republican Party in Washington, D.C., is FAR WORSE than the Democrat Party.
Read More @ WesternJournalism.com
After the Republican-controlled Senate foolishly passed the so-called
“Obamatrade” bill, the House leadership (John Boehner, Steve Scalise,
Paul Ryan, et al.) worked their tails off to pass the bill. But a
majority of Democrats and liberty-minded Republicans (small in number)
rallied in opposition to the bill and voted it down. HOORAY! In this
case, it was mostly Democrats who saved the day!I have been saying for years that people who think the Republican establishment is a friend to liberty are extremely naïve. On issues regarding so-called “free trade” (it’s NOT free trade; it’s globalism masquerading as free trade), the Warfare State, deficit spending, globalism, and civil liberties, the Republican Party in Washington, D.C., is FAR WORSE than the Democrat Party.
Read More @ WesternJournalism.com
from KingWorldNews:
So the only policy that these central banks have is to continue to do
more of the same. And the only thing that does is continue to push this
next crisis, or the second leg of the current crisis as I look at it,
down the road. There is no saving this (global financial) system.
All they can do is continue to push the current policies to make it look as if things are operating functionally — as if these banks are solvent and as if these markets are somehow elevated on the basis of value and not on the basis of the cheap money that they are infusing into the system. That’s all they can do. They just hope that somewhere along the line this will work out.
Nomi Prins Audio Interview @ KingWorldNews.com
So the only policy that these central banks have is to continue to do
more of the same. And the only thing that does is continue to push this
next crisis, or the second leg of the current crisis as I look at it,
down the road. There is no saving this (global financial) system. All they can do is continue to push the current policies to make it look as if things are operating functionally — as if these banks are solvent and as if these markets are somehow elevated on the basis of value and not on the basis of the cheap money that they are infusing into the system. That’s all they can do. They just hope that somewhere along the line this will work out.
Nomi Prins Audio Interview @ KingWorldNews.com
by The Doc and Eric Dubin, Silver Doctors:
With gold and silver popping The Doc & Eric Dubin Break Down All the Action Discussing:
With gold and silver popping The Doc & Eric Dubin Break Down All the Action Discussing:
- Gold and silver back above key support/resistance levels- Time For Another Managed Retreat by the Cartel?
- Will Bo Polny’s Latest Call Be Correct and Gold and Silver Surprise to the Upside in June?
- The Doc & Eric Dubin Discuss Tyler Durden’s Theory That the ECB is Intentionally Triggering Greek Bank Runs- Is a Greek Collapse Really in the ECB’s Interests, or is a Bail-in More Likely?
- Eye of the Storm- Why Eric Believes Things Will Get Interesting Come July
from DAHBOO777:
President Obama called for more gun control in response to the
Charleston, S.C., church shooting, but that’ll just lead to more deaths
of innocent African-Americans given the violence in “gun-free” Chicago
and the United Kingdom. The president blamed guns for the shooting which
claimed nine lives at the historically black Emanuel AME Church on
Wednesday; however, the frequent violence which occurs in areas with
strict gun laws debunk the president’s claim that gun control works.“We don’t have all the facts but we do know once again innocent people were killed in part because someone who wanted to inflict harm had no trouble getting their hands on a gun,” Obama said in response to the shooting. “Now is the time for mourning and for healing, but let’s be clear: at some point we as a country will have to reckon with the fact that this type of mass violence does not happen in other advanced countries.”
Obama is wrong: the overall rate of violent crime in the U.K. is about four times higher than the U.S., despite the U.K.’s near eradication of private gun ownership.
Read More @ Infowars.com
If the Rothschild’s don’t control something, it’s not worth being controlled
by Rand Clifford, Veteran’s Today:
Drought in California is currently blamed on what mainstream weather parrots keep parroting: ” The Ridiculously Resilient Ridge”. Also parroted as “ RRR”, and, “Triple R”…this ridge of high pressure off the coast of California is actually a martial maneuver.
Grotesque twisting of Nature with unconventional weapons maintain the California drought. “Sinister” and “Geoengineering” go together like a horse and carriage. And the California drought is an act of war.
Satellite imagery clearly reveals how the California drought is being executed. [1]
Weather as a Force Multiplier: Owning the Weather in 2025
Such was the title of a research paper embraced by the US Air Force, August, 1996.
Read More @ VeteransToday.com
by Rand Clifford, Veteran’s Today:
Drought in California is currently blamed on what mainstream weather parrots keep parroting: ” The Ridiculously Resilient Ridge”. Also parroted as “ RRR”, and, “Triple R”…this ridge of high pressure off the coast of California is actually a martial maneuver.Grotesque twisting of Nature with unconventional weapons maintain the California drought. “Sinister” and “Geoengineering” go together like a horse and carriage. And the California drought is an act of war.
Satellite imagery clearly reveals how the California drought is being executed. [1]
Weather as a Force Multiplier: Owning the Weather in 2025
Such was the title of a research paper embraced by the US Air Force, August, 1996.
Read More @ VeteransToday.com
Filed Under Douche Bags...That the Sheeplez believe...
by Susan Jones, CNSnews:
His
four months of suspension from the NBC Nightly News desk have been
“torture,” but “absolutely necessary,” Brian Williams told “Today” show
anchor Matt Lauer in an interview that aired on Friday.
Williams said he has used the time to go over his “20 years of public utterances” to check on himself, after he was caught lying about some of his experiences in the field — including a story about coming under fire in a military helicopter in 2003 when he was covering the Iraq war.
That never happened, but Williams said it did, both on the Nightly News and on late-night talk shows. There were other falsehoods as well.
“This came from clearly a bad place, a bad urge inside me. This was clearly ego-driven, the desire to better my role in a story I was already in. That’s what I’ve been tearing apart and unpacking and analyzing.”
Read More @ CNSnews.com
His
four months of suspension from the NBC Nightly News desk have been
“torture,” but “absolutely necessary,” Brian Williams told “Today” show
anchor Matt Lauer in an interview that aired on Friday.Williams said he has used the time to go over his “20 years of public utterances” to check on himself, after he was caught lying about some of his experiences in the field — including a story about coming under fire in a military helicopter in 2003 when he was covering the Iraq war.
That never happened, but Williams said it did, both on the Nightly News and on late-night talk shows. There were other falsehoods as well.
“This came from clearly a bad place, a bad urge inside me. This was clearly ego-driven, the desire to better my role in a story I was already in. That’s what I’ve been tearing apart and unpacking and analyzing.”
Read More @ CNSnews.com
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