IMF ADMITS: Austerity Measures Would Still Leave Greece With UNSUSTAINABLE DEBT

Secret documents show creditors’ baseline estimate puts debt at 118% of GDP in 2030, even if it signs up to all tax and spending reforms demanded by troika
by SGT, SGT Report.com:
I had the pleasure of speaking with our friend Harley Schlanger on Tuesday, the day of the great Greek default. As usual Harley had many thought provoking insights about the developments in Greece, at the fore is Harley’s belief that “This is what the Bankster’s fear the most“, a government and populace turning its collective back on austerity and Bankster tyranny.
I will post the full interview with Harley Schlanger later this evening, but just wanted to share this note I recieved from him this morning. Harley writes,
“Sean, Troika documents show the IMF/banker’s plans for Greece will NOT Succeed. Here’s the latest evidence, from the Troika’s own documents, that they knew their policies could not work, even if the Greeks adopted them. Don’t buy into the psy-war about Tsipras capitulating. The Financial Times ran a story today saying he gave in, then admitted, an hour later, that the letter they cited to claim he capitulated said no such thing!”
Read More…

Greek FinMin Lays Out 6 Reasons To Vote "No" In The Referendum

Submitted by Tyler Durden on 07/01/2015 - 13:31 Confused as to how to vote Sunday? Starting to understand having your cake and eating it to may not work? Greek FinMin Varoufakis has six simple reasons to "just say no"...

Eurogroup's Dijsselbloem Says "No Grounds For Further Talks", Will "Wait For Outcome Of Referendum"

Submitted by Tyler Durden on 07/01/2015 - 13:59 DIJSSELBLOEM SAYS SEES NO GROUNDS FOR FURTHER GREECE TALKS
DIJSSELBLOEM SAYS WILL BE NO TALKS IN COMING DAYS
DIJSSELBLOEM SAYS WILL WAIT FOR OUTCOME OF GREEK REFERENDUM
DIJSSELBLOEM SAYS WILL TAKE INTO ACCOUNT OUTCOME OF SUNDAY VOTE

Athens On The Potomac - It Could Never Happen Here, Right?

Submitted by Tyler Durden on 07/01/2015 - 16:32
Financial experts in New York, London, and Brussels have tut-tutted Greece’s economic travails as Athens considers its future with the European Union. Why did they borrow so much money? How can they ever pay it back? Do they think that much debt is sustainable? Instead of pointing fingers at the innumerates running Athens, they should consider our own situation.

Ex-Im Bank Bites The Dust Today - Good Riddance To A Crony Capitalist Heist

Submitted by Tyler Durden on 07/01/2015 - 13:50 The Export-Import Bank died last night when its charter expired. After 81 years, what is commonly known as Boeing’s Bank is headed toward Washington’s trash bin. When Congress returns it could revive Ex-Im, which primarily subsidizes big business exports. But a proper burial for what Barack Obama once called “corporate welfare” would save Americans money, reduce economic injustice, and promote economic growth. Ex-Im’s closure is a very rare victory for the good guys in Washington. Crony capitalism is running rampant in America, undermining confidence in a market economy.

Airlines Stocks Plunge After DoJ Probes Collusion On High Prices

Submitted by Tyler Durden on 07/01/2015 - 14:06 Low oil prices must be good for airlines profits, right - especially if they keep ticket prices artificially high...
*DOJ SAID PROBING WHETHER AIRLINES COLLUDING ON HIGH AIRFARE:AP
And now we await for the DOJ to probe whether central banks are colluding to keep stock prices high. /sarc.

Pre-Blame-Game Begins: Fed's Brainard Fingers HFT For "Amplifying Market Shocks"

Submitted by Tyler Durden on 07/01/2015 - 14:22 We warned previously that when (not if) the market crashes next, The Fed is going to need a scapegoat (other than British traders living at home with their parents) and judging by The Fed's Lael Brainard's comments today, high-frequency-traders (HFT) are in the crosshairs. Crucially, Brainard warns that HFT "may amplify market shocks," and The Fed is "studying possible changes in liquidity resilience." 

Losing Money Is "Inevitable" This Year, SocGen Warns Citing Economic "Elephant"

Submitted by Tyler Durden on 07/01/2015 - 14:40 Investors are losing money, which strikes us as largely inevitable with asset prices where they are and economic growth and profits on a downward trajectory. Losing the least amount of money may be the best source of success this year.

The Greek Bluff May Be Working: ECB Does Not "Haircut" ELA Collateral

Submitted by Tyler Durden on 07/01/2015 - 14:54 Following our post yesterday, in which we calculated the levels of ELA haircuts that would result in corresponding deposit haircuts, we - and the rest of the world - were patiently waiting to see if the ECB would commence using its nuclear option, first with a small increase in haircuts, then as we got closer to Sunday, with larger ones.  Moments ago we got the answer, when the ECB not only kept the ELA frozen as expected, thus requiring the continuation of the Greek capital controls, but decided against a collateral haircut.
ECB SAID TO TAKE NO DECISION ON GREEK COLLATERAL HAIRCUT
In other words, so far Varoufakis' thesis remains intact, and the ECB has refused to push the "nuclear option" launch button.

"The Fallout Ratio" Is Flashing Red - The Chart That Realtors Don't Want You To See

Submitted by Tyler Durden on 07/01/2015 - 15:01 The Home Sales Fallout Ratio gives us an idea of the trend of contracts (aka 'pending home sales') falling through and failing to close. It is telling us that, while sales are at a 9 year high, trouble is brewing in the current version of the bubbly housing market. This could be a harbinger of mass destruction should mortgage rates begin a persistent rise from here.

Greece Explained (In 2 Cartoons)

Submitted by Tyler Durden on 07/01/2015 - 15:36









Six More states to avoid...

These Six States Just Raised Their Gasoline Tax

Submitted by Tyler Durden on 07/01/2015 - 15:49 Beginning July 1, drivers in Idaho, Georgia, Maryland, Rhode Island, Nebraska and Vermont will be charged more at the pump as a result of laws taking effect at the start states' new fiscal year.

#AskPOTUS: Your Chance To Ask The President Anything

Submitted by Tyler Durden on 07/01/2015 - 16:08

Stocks Surge Despite Dashed Hellenic Hope, Crude Carnages

Submitted by Tyler Durden on 07/01/2015 - 16:08

Pentagon Urged to BOOT Chaplains Who Oppose ‘Gay’ Marriage

IRONY OF THE DAY: Intolerant activist blasts ‘intolerant filth lingering in the ranks of our armed forces’
by Jack Minor, WND:
In the aftermath of the Supreme Court’s decision to redefine marriage in all 50 states, the Pentagon is now being urged to “cleanse itself” of chaplains who refuse to support same-sex marriage.
Activist Mikey Weinstein, president of the Military Religious Freedom Foundation, is demanding the U.S. military conduct a purge of chaplains who holds to the traditional teaching of homosexuality and marriage espoused by the first commander in chief, George Washington.
Weinstein claims chaplains who are “maintaining the state of antagonism between their religion and the sexual/gender identities of service members” have no business serving in the military.

“Nobody is arguing that these losers don’t have a right to their religious beliefs,” wrote Weinstein in an op-ed.

Read More @ WND.com

Governor Jerry Brown Mandates a Mass Medical Vaccine Experiment on Blacks by Signing SB 277 into Law

by Mike Adams, Natural News:
Governor Jerry Brown now goes down in history as the first person to legalize a state-wide medical vaccine experiment on blacks. He signed SB 277 into law today, reawakening the era of Tuskegee’s medical experiments against blacks while invoking the same twisted justifications as Tuskegee: It’s for “public health!”
In this pharmaceutical-funded sellout of his own citizens, Governor Jerry “Tuskegee” Brown also openly violates the American Medical Association’s own Code of Medical Ethics which says that patients, not government, should have the final say on medical interventions. And this from a Democrat Governor who claims to support “choice!” When it comes to injecting your children with toxic, brain-damaging vaccines laced with mercury, aluminum, formaldehyde and MSG, Jerry Brown has no hesitation in stripping away that choice, making parents obedient slaves to the California medical police state.
Read More @ NaturalNews.com

Precious Metal Derivatives Decline 29%

from Perth Mint:
Yes, you heard that right, the US Office of the Comptroller of the Currency’s (OCC) latest quarterly report show a reduction in total precious metal derivatives from $106,293 million to $75,620 million. This is at odds with Zero Hedge’s post first, ask questions later approach where they say that there was a “237% increase in the total amount of precious metals (which include gold) contracts in the quarter”.
Zero Hedge get their percentage from a graph from the report (see below) that does show a big jump. However, if you look more deeply into the Table 9 figures they also featured, it becomes clear that the chart is most likely a mistake.
In the picture below I have drawn lines from the tables to the chart, to show where the chart is getting its figures from. For Q1 2015 you can see with the green lines which Precious Metals figures from Table 9 their chartist has used. Note that in the Q1 2015 report this table refers to the total of gold AND the other precious metals.
Read More @ PerthMint.com.au

TYRANNY REIGNS IN AmeriKa: NSA Allowed to Resume Bulk Data Collection on Americans

from RTAmerica:

Complacency Remains Rife

by Pater Tenebrarum, Acting-Man.com:
Nothing to Worry About …
It was clear that stock markets would sell off and US treasuries would catch a bid on the news of the failure of negotiations between the former “troika” and Greece. What was less clear was that gold would actually fail to catch a bid, but we are putting this down to the fact that another surprise event occurred: the euro, after initially declining, actually ended the trading day slightly higher.
Some of this has to do with positioning: there were already lots of speculative shorts in the euro, and speculators added some 24,000 contract to their long position in gold futures ahead of the weekend. When a big move higher failed to make an appearance, some of these positions in gold were evidently sold again, while euro shorts welcomed an opportunity to cover on a dip caused by widely unexpected news.
Read More @ Acting-Man.com

LIQUIDITY CRISIS: Bill Gross Warns of Catastrophic Bond Collapse

from AMTV:

Turkey Plans To Invade Syria

by Brandon Turbeville, Activist Post:
Even worrying members of his own government, Turkish President Recep Erdogan is showing the world just how he earned his being shown the door in the last election. This is because Erdogan has recently announced plans to invade Syria, occupy a swath of land on the southern Turkey/Norther Syria border, and establish a buffer zone there.
In the past, Turkey has sent troops into Syria under the guise of protecting a Turkish enclave in Syrian territory but, in reality, the operation was an attempt to provide cover for Western-backed terrorists moving against the Syrian government. The Turks have also committed sizeable amounts of their intelligence agents and “special ops” crews to Syria.
This recent announcement, however, involves the commitment of Turkish Air Force and infantry which will then be used to not only establish a “buffer zone” in Northern Syria but also to occupy that zone.
Read More @ ActivistPost.com

The Federal Reserve Created a Ponzi Scheme — Dr. Murray Sabrin

from WallStForMainSt:



Jason Burack of Wall St for Main St had on first time guest, financial professor, Austrian School Economist and former NJ senate candidate, Murray Sabrin, http://murraysabrin.com/

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