Submitted by Tyler Durden on 07/14/2015 - 15:54 As if the long-suffering Greek people need more tragedy in their lives, here comes an admission from their chosen "leader" that Greece, as a sovereign nation, no longer exists: GREEK PM TSIPRAS SAYS LENDERS GIVE A MESSAGE THAT IN COUNTRIES UNDER A BAILOUT THERE IS NO POINT IN HOLDING ELECTIONS.
IMF May Walk Away From Greek Bailout
Submitted by Tyler Durden on 07/14/2015 - 17:00 "The International Monetary Fund has sent its strongest signal that it may walk away from Greece’s new bailout programme. Under its rules, the IMF is not allowed to participate in a bailout if a country’s debt is deemed unsustainable and there is no prospect of it returning to private bond markets for financing. The IMF has bent its rules to participate in previous Greek bailouts, but the memo suggests it can no longer do so," FT reports.
The left-wing Syriza Party of Greece is starting to question what
Prime Minister Alexis Tsipras is up to. Merkel is demanding austerity
FIRST before any loans. Additional murmurings behind the curtain claim
that Merkel wants a list of all assets owned by Greece. If Merkel thinks
that she can seize Greek assets upon a default, she is risking the
total collapse of Euroland in short order.The entire world is now against Merkel and her drive for austerity. There is no possible way she will prevail in Europe for her policies have no endgame. All she is doing is trying to support the bondholders at the expense if the public.
Read More @ ArmstrongEconomics.com
Coming to your area...Much Sooner then you think...
from Gold Core:
Capital controls have been in place in Greece since the start of the
month to protect the banks from mass withdrawals by nervous Greeks. They
have rightly been concerned about their savings, the collapse of the
banking system and the loss of their savings in deposit confiscations or
bail-ins.
Many Greeks were also withdrawing their cash because they fear the country might be forced back onto the drachma. However a little known fact is that, Greeks who had prepared for bank runs by withdrawing cash and buying gold and silver bullion and then lodging that bullion and indeed cash into safety deposit boxes have also been caught up in the draconian capital controls.
We have warned about this for many years and warned as recently as April this year that people should avoid using safety deposit boxes in banks.
Read More @ GoldCore.com
Capital controls have been in place in Greece since the start of the
month to protect the banks from mass withdrawals by nervous Greeks. They
have rightly been concerned about their savings, the collapse of the
banking system and the loss of their savings in deposit confiscations or
bail-ins.Many Greeks were also withdrawing their cash because they fear the country might be forced back onto the drachma. However a little known fact is that, Greeks who had prepared for bank runs by withdrawing cash and buying gold and silver bullion and then lodging that bullion and indeed cash into safety deposit boxes have also been caught up in the draconian capital controls.
We have warned about this for many years and warned as recently as April this year that people should avoid using safety deposit boxes in banks.
Read More @ GoldCore.com
from FinancialSurvivalNetwork.com:
John Rubino returns to talk about the situation in Greece and China…
Even after the resounding referendum where 61 percent of the population said no to the Euro and the ECB, the Greek Government is ready to capitulate and hold a $50 billion fire sale of prized Greek Government Assets. Will revolution follow? We can only guess.
Will revolution come to China in the wake of their Stock Market Collapse? Far less likely, but certainly a possibility.
Click Here to Listen
John Rubino returns to talk about the situation in Greece and China…Even after the resounding referendum where 61 percent of the population said no to the Euro and the ECB, the Greek Government is ready to capitulate and hold a $50 billion fire sale of prized Greek Government Assets. Will revolution follow? We can only guess.
Will revolution come to China in the wake of their Stock Market Collapse? Far less likely, but certainly a possibility.
Click Here to Listen
from Bill Still:
Ron Paul Warns "Greece Today, America Tomorrow?"
Submitted by Tyler Durden on 07/14/2015 - 16:30 The Greek crisis provides a look into what awaits us unless we stop overspending on warfare and welfare and restore a sound monetary system. While most commentators have focused on Greece’s welfare state, much of Greece’s deficit was caused by excessive military spending. Even as its economy collapses and the government makes (minor) cuts in welfare spending, Greece’s military budget remains among the largest in the European Union. Congress will only reverse course when a critical mass of people reject the entitlement mentality and understand that the government is incapable of running the world, running our lives, and running the economy.
Exclusive: The Inside Story Of How Deutsche Bank "Deals With" Whistleblowers
Submitted by Tyler Durden on 07/14/2015 - 15:15 On November 7, 2011 Dr. Eric Ben-Artzi walked into a conference room at Deutsche Bank’s U.S. headquarters in lower Manhattan. Seated at a conference table was Sharon Wilson from the Human Resources department. Lars Popken, DB’s head of market risk methodology and Ben-Artzi’s manager, was videoconferenced in. Ben-Artzi’s job, Popken said, was being moved to Germany. Ben-Artzi thought back to the summer when, in response to rumors that some U.S. positions were likely to be moved overseas, he had mentioned he’d be happy to relocate to Berlin. No such luck. Minutes later, he was terminated and Wilson hurriedly ushered him out of the building. Ben-Artzi wasn’t even allowed to collect his personal belongings.Recessionary Retail Sales & Broken Markets Spark Volumeless Buying In Stocks, Bonds, & Crude
Submitted by Tyler Durden on 07/14/2015 - 16:05
Everything You Need To Know About The Greek Crisis And ECB Fascism In Two Paragraphs
Submitted by Tyler Durden on 07/14/2015 - 15:55 There is no democracy in Europe. None.
How The Fed Almost Admitted HFTs Are Illegal
Submitted by Tyler Durden on 07/14/2015 - 15:34 "At times, self-trading may reflect unlawful conduct. For example, unlawful self-trades may constitute “wash sales.” In the futures markets, “wash sales” involve a purchase and sale of the same delivery month of the same futures contract at the same or similar price, made without an intent to take a genuine, bona fide position in the market, and instead, are intended to negate risk or price competition. In the securities markets, for example, a “wash trade” is a transaction that does not result in a change of beneficial ownership when there is a fraudulent or manipulative purpose behind the trade. This report is not making any findings on the legality of any self-trading that occurred on the days covered in this analysis."
Greece Just Gave Everyone The Best Trade Opportunity Of The Year
Submitted by Tyler Durden on 07/14/2015 - 15:17 At an annualized return of approximately 20,622,184,553,370,800,000,000,000,000,000,000,000,000,000%, Greece just gave everyone the best trade opportunity of the year...
Tsipras Interviewed, Sticks Foot In Mouth: "I Signed A Deal I Do Not Believe In But Am Willing To Implement"
Submitted by Tyler Durden on 07/14/2015 - 15:02 GREEK PM TSIPRAS SAYS I SIGNED I DEAL I DO NOT BELIEVE IN BUT I'M WILLING TO IMPLEMENT AND WILL ASSUME RESPONSIBILITIESArtist's Impression Of How The Iran Deal Was Concluded
Submitted by Tyler Durden on 07/14/2015 - 15:00 Give-and-take... and Trust...
Greek Bad Loans Soar To €100 Billion
Submitted by Tyler Durden on 07/14/2015 - 14:45 Just when you thought it was safe to buy Greek Banks (which it is not!) based on the mainstream media narrative that Greece is now fixed, ekathimerini reports that not only are deposits flying out the door at unprecedented pace (albeit stalled by capital controls) but non-performing loans have increased dramatically in the last few weeks as hundreds of households and enterprises have stopped making their repayments either due to a genuine inability to pay or because of the general uncertainty in the economy that has seen transactions freeze.
A Homeless Harvard Graduate In The Schizophrenic Job Market
Submitted by Tyler Durden on 07/14/2015 - 14:30 The BLS continues to perpetuate the distraction officially known as the "unemployment rate" to hide the grim reality portrayed by the labor force participation rate, which shows the true decline of employment in America. The labor force participation rate of college graduates has never been lower. In the new normal, McDonald's has a lower acceptance rate than Ivy League schools. Just when you thought you had seen everything, a new story emerges: Alfred Postell has three degrees - accounting, economics, and law - but he is unemployed and homeless.Why A Hedge Fund That Has Been Short For Three Years, And Wildly Profitable, Remains Short
Submitted by Tyler Durden on 07/14/2015 - 14:18
Small Business Optimism Crashes To 15 Month Lows
Submitted by Tyler Durden on 07/14/2015 - 13:54 With all hopes and dreams of economic renaissance in America pinned on small businesses (see ADP's recent gains), today's data from the NFIB will strike fear in the heart of the wealth-effect-creating Fed. The NFIB small business optimism index disappointed expectations in June (94.1 vs. consensus 98.5), falling to its lowest level since March 2014 - the biggest drop since 2012. All components were weaker but most notably hiring and plans to raise worker compensation tumbled. Furthermore, Deloitte's Q2 latest survery shows American CFOs are more worried than at any time since 2013.
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 - 13:53 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.
from KingWorldNews:
Richard Russell:
“There is a preliminary deal in Greece, and it looks as though there
will be no exit from the Eurozone. Far more important, but receiving
less publicity, is the stock market crash in China. My belief is that if
China catches a cold, the world will suffer from pneumonia.
I believe we are seeing the ultimate death of fiat money. In the ashes of dying fiat money, real constitutional money will emerge. Silver and gold have outlasted every fiat currency in history. As the world’s fiat currencies lose purchasing power, wealthy individuals are hedging their bets by diversifying into tangible items such as great art, outstanding collectibles and gems. The average person cannot afford a Picasso or a ten-karat diamond, but he can afford a monster box of 500 silver coins.
Richard Russell continues @ KingWorldNews.com
Richard Russell:
“There is a preliminary deal in Greece, and it looks as though there
will be no exit from the Eurozone. Far more important, but receiving
less publicity, is the stock market crash in China. My belief is that if
China catches a cold, the world will suffer from pneumonia.I believe we are seeing the ultimate death of fiat money. In the ashes of dying fiat money, real constitutional money will emerge. Silver and gold have outlasted every fiat currency in history. As the world’s fiat currencies lose purchasing power, wealthy individuals are hedging their bets by diversifying into tangible items such as great art, outstanding collectibles and gems. The average person cannot afford a Picasso or a ten-karat diamond, but he can afford a monster box of 500 silver coins.
Richard Russell continues @ KingWorldNews.com
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…
by Dave Hodges, The Common Sense Show:
There has been something that has been a battle brewing inside of the
United States that is devastating to the American way of life. This is
worse and far more of a threat than Jade Helm. Specifically, I am
speaking about the destruction of the Christian religion in the United
States. The demise of Christianity and Christians is planned and it is
deliberate.
As bad as he may be, the country can survive the illegitimate Presidency of Obama along with his fascist policies. America can also survive an economic crash, we have done it before. We can even survive the implementation of martial law so long as individual Americans refuse to accept the obliteration of their civil liberties. However, what America cannot survive is the wholesale the destruction of its cultural underpinnings. No nation can survive the destruction of its culture and remain the same and this is precisely what America is going through now.
Read More
There has been something that has been a battle brewing inside of the
United States that is devastating to the American way of life. This is
worse and far more of a threat than Jade Helm. Specifically, I am
speaking about the destruction of the Christian religion in the United
States. The demise of Christianity and Christians is planned and it is
deliberate.As bad as he may be, the country can survive the illegitimate Presidency of Obama along with his fascist policies. America can also survive an economic crash, we have done it before. We can even survive the implementation of martial law so long as individual Americans refuse to accept the obliteration of their civil liberties. However, what America cannot survive is the wholesale the destruction of its cultural underpinnings. No nation can survive the destruction of its culture and remain the same and this is precisely what America is going through now.
Read More
from The Daily Sheeple:
With the fall of China’s stock market and the deteriorating situation
in Greece, it seems like the world is preparing to experience another
system economic collapse. But as the alternative media has been warning
for years, the problems of the last crisis have yet to be truly solved.
With the exception of countries like Iceland, who had the foresight to let the big banks fail, most developed countries are still in worse shape than they were before.
Nowhere is this more obvious than in the United States, where roughly 8 years after the housing crash, millions of people are still on food stamps. Which if you think about it, isn’t that the true measure of a nation’s economic health? Can the people actually feed themselves? According to the Free Beacon, many of them still can’t:
Read More @ TheDailySheeple.com
With the fall of China’s stock market and the deteriorating situation
in Greece, it seems like the world is preparing to experience another
system economic collapse. But as the alternative media has been warning
for years, the problems of the last crisis have yet to be truly solved.
With the exception of countries like Iceland, who had the foresight to let the big banks fail, most developed countries are still in worse shape than they were before.Nowhere is this more obvious than in the United States, where roughly 8 years after the housing crash, millions of people are still on food stamps. Which if you think about it, isn’t that the true measure of a nation’s economic health? Can the people actually feed themselves? According to the Free Beacon, many of them still can’t:
Read More @ TheDailySheeple.com
from Economic News TV:
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