Submitted by Tyler Durden on 07/14/2015 - 08:13 "The dramatic deterioration in debt sustainability points to the need for debt relief on a scale that would need to go well beyond what has been under consideration to date - and what has been proposed by the ESM. European countries would have to give Greece a 30-year grace period on servicing all its European debt, including new loans, and a very dramatic maturity extension, or else make explicit annual fiscal transfers to the Greek budget or accept 'deep upfront haircuts'."
Or, more simply: "Mark it zero."
Varoufakis: Greek Deal Is "Coup", Turns Greece Into "Vassal" State, And Deals "Decisive Blow" To European Project
Submitted by Tyler Durden on 07/14/2015 - 09:03 Europeans, even those who give not a damn for Greece, ought to beware.The Euro Summit statement of yesterday morning has nothing to do with economics, nor with any concern for the type of reform agenda capable of lifting Greece out of its mire. It is purely and simply a manifestation of the politics of humiliation in action.
Schaeuble's Modest Proposal For Greek Bridge Loan: Pay Salaries In IOUs
Submitted by Tyler Durden on 07/14/2015 - 07:45 While Greek PM Alexis Tsipras is busy figuring out how best to go about pushing the "deal" he reached on Monday morning in Brussels through parliament, EU finance ministers are scrambling to put together billions in bridge financing that will hold Athens over until the activation of the ESM program which is likely at least four months away. Although it's as yet unclear which "least bad" option is preferable for Greece's external debt, Wolfgang Schaeuble has an idea for how the country might pay public sector employees.
BofA Stumped: Fund Managers Have Highest Cash Levels Since Lehman Yet Nobody Is Selling
Submitted by Tyler Durden on 07/14/2015 - 09:51 The latest BofA Fund Managers Survey has left the report authors stumped: on one hand fund managers have the highest cash levels since Lehman at 5.5% (most since December 2008 and prior to that November 2001), which combined with a capitulation in risk appetite due to ongoing stress in Greece and China would suggest a screaming buy signal... but there is one problem: the same fund managers refuse to actually capitulate and sell, and as a result not only are bank longs at record highs, but equities remains solidly overowned but the group, offset by "protection" levels which are the highest since February 2008. In short, the current positioning is a "complete contrast to 2008."
Snow In The Summer Confirmed - Retail Sales Tumble Most Since February
Submitted by Tyler Durden on 07/14/2015 - 08:40 Following May's bounce in retail sales (thanks to a rise in gas prices), June's headline data printed a 0.3% plunge - the most since Feb 2015 - against expectations of a 0.3% rise. Retail Sales ex-Autos also fell MoM (down 0.1% against expectations of a 0.5% rise). This is exactly in line with our warnings last week that spending was likely to drop following a slide in credit and debit card spending as retail sales declined in autos; furniture; building materials; clothing; general merchandise; restaurants; online and miscellaneous. The control grouop data showed a mere 2.1% rise YoY - confirming recessionary signals from wholesale sales data.
Dead Market Walking
Submitted by Tyler Durden on 07/14/2015 - 08:21 Having tumbled 15pts on Grexit threats and then roared 40 pts on a Greek "deal", S&P 500 futures have traded in a 2pt range for the last 16 hours... dead market walking... or calm before the storm?
JPM Fixed Income Revenue Tumbles As Earnings Rise; Over $100 Billion In Deposits Purged YTD
Submitted by Tyler Durden on 07/14/2015 - 07:40 Unlike previous quarters when JPM's earnings release was a jumble of legal addbacks, MBS charge offs and loan-loss reserve releases, this time it was positively tame by comparison.
Stocks Get Second Thoughts About Greek Deal: Turn Red From China To Europe
Submitted by Tyler Durden on 07/14/2015 - 07:03 One day after the Greek "pre-deal" was announced and the world breathed a sigh of relief, sending US stocks soaring and Greek halted stocks, well, tumbling (via ETFs and ADRs), things are oddly quiet and in fact quite red in Europe, with futures in the US modestly lower, following both China's first red close in several days (SHCOMP -1.2%), and a Europe which is hardly looking very euphoric at this moment: it is almost as if the algos finally got to read the fine print of the Greek deal after trading all day on just the headlines.
World Powers Reach Landmark Nuclear Deal With Iran, Oil Slides - Full Deal Text
Submitted by Tyler Durden on 07/14/2015 - 06:37 It is only fitting that almost exactly 24 hours after the Greek "pre-deal", which may and will end up crashing and burning in very short notice, another long expected "deal", one which has been about a decade in the making, was reached, when Iran reached a landmark nuclear agreement with the U.S. and five other world powers, a long-sought foreign policy goal of the Obama administration. However, just like with the Greek deal celebrations, these too will likely be short lived as the outcome sets the White House on course for months of political strife with dissenters in Congress and in allied Middle Eastern nations.
by Michael Snyder, The Economic Collapse Blog:
Greece is saved? All over the planet, news headlines are boldly
proclaiming that a “deal” has been reached which will give Greece the
money that it needs and keep it in the eurozone. But as you will see
below, this is not true at all. Yesterday, when I wrote that “there never was going to be any deal“, I was not exaggerating. This “deal” was not drafted with the intention of “saving Greece”. As I explained in my previous article,
these negotiations were all about setting up Greece for eviction from
the euro. You see, the truth is that Greece desperately wants to stay
in the euro, but Germany (and allies such as Finland) want Greece out.
Since Germany can’t simply order Greece to leave the euro, they need
some sort of legal framework which will make it possible, and that is
what this new “deal” provides. As I am about to explain, there are all
kinds of conditions that must be satisfied and hurdles that must be
crossed before Greece ever sees a single penny. If there is a single
hiccup along the way, and this is what the Germans are counting on,
Greece will be ejected from the eurozone. This “deal” has been designed
to fail so that the Germans can get what they have wanted all along. I
think that three very famous words from Admiral Ackbar sum up the
situation very well: “It’s a trap!”
Read More…
Greece is saved? All over the planet, news headlines are boldly
proclaiming that a “deal” has been reached which will give Greece the
money that it needs and keep it in the eurozone. But as you will see
below, this is not true at all. Yesterday, when I wrote that “there never was going to be any deal“, I was not exaggerating. This “deal” was not drafted with the intention of “saving Greece”. As I explained in my previous article,
these negotiations were all about setting up Greece for eviction from
the euro. You see, the truth is that Greece desperately wants to stay
in the euro, but Germany (and allies such as Finland) want Greece out.
Since Germany can’t simply order Greece to leave the euro, they need
some sort of legal framework which will make it possible, and that is
what this new “deal” provides. As I am about to explain, there are all
kinds of conditions that must be satisfied and hurdles that must be
crossed before Greece ever sees a single penny. If there is a single
hiccup along the way, and this is what the Germans are counting on,
Greece will be ejected from the eurozone. This “deal” has been designed
to fail so that the Germans can get what they have wanted all along. I
think that three very famous words from Admiral Ackbar sum up the
situation very well: “It’s a trap!”Read More…
Greece has been in the news with the left socialist Syriza Party caving (predictably) to the IMF’s economic terrorism, resulting in bank runs and capital controls.
Echoing the previous two bail outs back to 09 and 10, the new “plan” will undoubtedly result in more collateral seizure of Greek assets for the engineered debt crisis shock doctrine that controls virtually all nations.
Nothing new here, but it is illustrative for understanding the global banking structure that emerged from World War II at the Bretton Woods Conference in 1944. However, as we will see, the real structure extends further back into the shadows of World War I.
Originally Bretton Woods’ plan tied to the U.S. dollar-backed by gold, in 1971, the dollar became fiat (Nixon shock), resulting in a global fiat system centered around command and control large-scale economic planning and fixed exchange rates.
Read More @ 21stCenturyWire.com
The Multi-Trillion Dollar Oil Market Swindle
Submitted by Tyler Durden on 07/14/2015 - 09:28 In the past, we documented the overstatements by both the IEA and EIA in 2014 & 2015 in terms of supply, inventory and understatements of demand. Others also noticed these distortions and, whether intentional or not, they exist and they are very large in dollar terms. These distortions, which are affecting price through media hype and/or direct/indirect price manipulation, are quite possibly the largest in financial history.
from Jesse’s Café Américain:
Perhaps the Greeks made a mistake, and relied too much on rationality,
on a belief in a Eurozone in which good sense and reason would prevail.
As it was, the Germans were willing to ruthlessly crush the Greek
banking system, while the ECB and IMF stood idly by, fomenting a
financial panic and humanitarian disaster in order to displace a
sovereign government and put an entire nation ‘in its place.’ We
certainly have seen this kind of example made before.
This was an exercise in raw power. It was a financial blitzkrieg, an act of economic warfare and reckless destruction on a people that ought to be condemned by the free world. But this kind of ruthless abuse of financial systems seems to be the accepted thing now amongst the developed economies. And we might view Greece as a sort of an experiment in a new form of warfare and ruthlessness, as were Guernica, Warsaw, and Lidice.
Read More @ Jessescrossroadscafe.blogspot.ca
Perhaps the Greeks made a mistake, and relied too much on rationality,
on a belief in a Eurozone in which good sense and reason would prevail.
As it was, the Germans were willing to ruthlessly crush the Greek
banking system, while the ECB and IMF stood idly by, fomenting a
financial panic and humanitarian disaster in order to displace a
sovereign government and put an entire nation ‘in its place.’ We
certainly have seen this kind of example made before.This was an exercise in raw power. It was a financial blitzkrieg, an act of economic warfare and reckless destruction on a people that ought to be condemned by the free world. But this kind of ruthless abuse of financial systems seems to be the accepted thing now amongst the developed economies. And we might view Greece as a sort of an experiment in a new form of warfare and ruthlessness, as were Guernica, Warsaw, and Lidice.
Read More @ Jessescrossroadscafe.blogspot.ca
from TruthNeverTold:
from Liberty Blitzkrieg:
Yanis Varoufakis just sat down for his first interview since resigning
as Finance Minister of Greece. He talked frankly with Harry Lambert of
the New Statesman. Here are the two most important paragraphs from the
transcript.
There is no democracy in Europe. None.
Varoufakis said that Schäuble, Germany’s finance minister and the architect of the deals Greece signed in 2010 and 2012, was “consistent throughout”. “His view was ‘I’m not discussing the programme – this was accepted by the previous [Greek] government and we can’t possibly allow an election to change anything.
“So at that point I said ‘Well perhaps we should simply not hold elections anymore for indebted countries’, and there was no answer. The only interpretation I can give [of their view] is, ‘Yes, that would be a good idea, but it would be difficult. So you either sign on the dotted line or you are out.’”
Any questions?
Yanis Varoufakis just sat down for his first interview since resigning
as Finance Minister of Greece. He talked frankly with Harry Lambert of
the New Statesman. Here are the two most important paragraphs from the
transcript.There is no democracy in Europe. None.
Varoufakis said that Schäuble, Germany’s finance minister and the architect of the deals Greece signed in 2010 and 2012, was “consistent throughout”. “His view was ‘I’m not discussing the programme – this was accepted by the previous [Greek] government and we can’t possibly allow an election to change anything.
“So at that point I said ‘Well perhaps we should simply not hold elections anymore for indebted countries’, and there was no answer. The only interpretation I can give [of their view] is, ‘Yes, that would be a good idea, but it would be difficult. So you either sign on the dotted line or you are out.’”
Any questions?
from grindall61:
from ZenGardner:
Like many of us, I’ve been considering some important courses of
action that could provide some of the solutions we seek. We are coming
onto a time where humanity needs viable ideas for rebuilding humanity in
this soon to be Jade Helm psyop era. I believe that as long as each of
us does their part we will succeed.
Before discussing the actions humanity should take, I want to first discuss some obstacles to be aware of. These obstacles are real and can seriously hinder progress so let’s confront them now.
I believe we must not be discouraged, slowed down or overcome with the perception of how effective we think we are being. For example, I believe humanity today, especially with the mass media apparatus that controls us, can become overcome with the perception of how they think they are doing.
Read More @ ZenGardner.com
Like many of us, I’ve been considering some important courses of
action that could provide some of the solutions we seek. We are coming
onto a time where humanity needs viable ideas for rebuilding humanity in
this soon to be Jade Helm psyop era. I believe that as long as each of
us does their part we will succeed.Before discussing the actions humanity should take, I want to first discuss some obstacles to be aware of. These obstacles are real and can seriously hinder progress so let’s confront them now.
I believe we must not be discouraged, slowed down or overcome with the perception of how effective we think we are being. For example, I believe humanity today, especially with the mass media apparatus that controls us, can become overcome with the perception of how they think they are doing.
Read More @ ZenGardner.com
“It
is not my intention to doubt that the doctrine of the Illuminati and
the principles of Jacobinism had not spread in the United States. On the
contrary, no one is more satisfied of this fact than I am.” – George Washington –
from BATR:
The world is out of control. Well, that seems to be the reaction to the
populist. However, for the New World Order, all systems are a go and
the ability to manipulate governments is vivid evidence that a global
authoritarian force is the actual ruler over the planet. Most people
deny this assessment and are fearful to come to grips with the
significance that nations no longer matter. The path to domination by
Luciferian Technocrats Rule the New World Order is the operative
principle underlying social cultures, international affairs and economic
activities.
The historic organizational structure of the nation state is in serious decline and verges on extinction in many places. The facade on a map or a vote in a plebiscite exemplifies the lack of real power flowing from the will of the people. Chalk up another casualty in the war against self-determination.
Read More @ BATR.org
from BATR:
The world is out of control. Well, that seems to be the reaction to the
populist. However, for the New World Order, all systems are a go and
the ability to manipulate governments is vivid evidence that a global
authoritarian force is the actual ruler over the planet. Most people
deny this assessment and are fearful to come to grips with the
significance that nations no longer matter. The path to domination by
Luciferian Technocrats Rule the New World Order is the operative
principle underlying social cultures, international affairs and economic
activities.The historic organizational structure of the nation state is in serious decline and verges on extinction in many places. The facade on a map or a vote in a plebiscite exemplifies the lack of real power flowing from the will of the people. Chalk up another casualty in the war against self-determination.
Read More @ BATR.org
from Sputnik News:
Drug
Enforcement Administration internal documents obtained by the
Associated Press reveal that the US knew about plans for Joaquin “El
Chapo” Guzmán’s escape since a month after he was captured.
In March 2014, following Guzmán’s high-profile arrest in Mexico in February, agents in Los Angeles reported a plot funded by another drug organization to threaten and/or bribe prison officials.
By July, an investigation revealed that Guzmán’s son had hired a team of military counterintelligence operatives to design a plan for his father’s freedom.
The following December, Houston DEA agents reported “that a deal was in place to release both Guzman-Loera and imprisoned Los Zetas Cartel leader Miguel Angel ‘Z-40′ Tevino-Morales.”
Read More @ SputnikNews.com
Drug
Enforcement Administration internal documents obtained by the
Associated Press reveal that the US knew about plans for Joaquin “El
Chapo” Guzmán’s escape since a month after he was captured.In March 2014, following Guzmán’s high-profile arrest in Mexico in February, agents in Los Angeles reported a plot funded by another drug organization to threaten and/or bribe prison officials.
By July, an investigation revealed that Guzmán’s son had hired a team of military counterintelligence operatives to design a plan for his father’s freedom.
The following December, Houston DEA agents reported “that a deal was in place to release both Guzman-Loera and imprisoned Los Zetas Cartel leader Miguel Angel ‘Z-40′ Tevino-Morales.”
Read More @ SputnikNews.com
The US will “invite” escaped Mexican billionaire druglord El Chapo “to
become a US citizen,” real estate mogul Donald Trump sardonically
predicted in a tweet sent late last night. On Saturday, drug kingpin
Joaquin “El Chapo” Guzman, the head of the Sinaloa cartel, escaped a
Mexican prison for a second time, riding a motorcycle out of a one-mile
underground tunnel dug directly beneath his cell.Trump used the escape as an opportunity to attack his potential 2016 presidential opponents, saying Jeb and Hillary would likely “negotiate” with the escapee. At the same time, he highlighted how the Mexican government profits from shipping “killers, drugs & crime” into the US. The reality TV star has ramped up his rhetoric since he tapped a sensitive nerve regarding US illegal immigration from Mexico, a message that resounded with a crowd of thousands this weekend in Phoenix.
The hotel billionaire went one step further last night when he remarked the US’ lax immigration policy would likely result in citizenship for the druglord, adding El Chapo already possesses a California driver’s license.
Read More @ Infowars.com
Brash, outspoken, and unbowed, presidential contender Donald Trump
seems to be a popular target these days for the media, business
interests, immigrant advocacy groups, politicians on the left and right,
and now even a notorious criminal with whom the billionaire has engaged
in a social media war of words. And even though the exchange reads like
R-rated dialogue from a blood-soaked, low-budget Western flick, Trump
is reportedly taking the threat seriously enough to call in the FBI to
investigate, according to gossip website TMZ.The Mexican drug lord known as El Chapo — who, over the weekend, escaped prison for a second time — has taken to Twitter to issue threats against Trump after the GOP hopeful had fired off his own tweet boasting to El Chapo (and the rest of the world) that he would “kick his a**.” That taunt was one of a handful of social media messages the Trump Twitter account let loose after it was reported that cartel kingpin Joaquin Guzman Loera had escaped from a maximum security prison west of Mexico City.
Read More @ WesternJournalism.com
/
![[Most Recent Quotes from www.kitco.com]](https://lh3.googleusercontent.com/blogger_img_proxy/AEn0k_uC0IuECp4EnAzwMUk1hujNBJFGlUXw326xEEJ9CW_knAMZqV9DwE38LM3_mH1tjfl717mZ3uZbAIlyxl7GnL1FeQ3a2Su6O9LsyFTs_yhQEBnIg1oVAHWU84d_JW1UAZC0zg=s0-d)
![[Most Recent Quotes from www.kitco.com]](https://lh3.googleusercontent.com/blogger_img_proxy/AEn0k_tMhekuP1nlt94IiG4Y95fv8xWvg7rCb0W4-7kU9BW2CQIHCG4I0cp_Uv9ayP2Q0Mw0Jm-4y8CVDyxlkT-x3WM-FV1m5QwWiyxImGaMC0xJZw3X_m4BLxXYc1NDr9f-oQ2oODO_=s0-d)
No comments:
Post a Comment