Greek Authorities To Launch Mass Confiscation Of Safe Deposit Boxes, Securities, Homes In Tax-Evasion Crackdown

Greek Authorities To Launch Mass Confiscation Of Safe Deposit Boxes, Securities, Homes In Tax-Evasion Crackdown:

Last week, the Greek parliament once again approved more austerity to unlock withheld Greek bailout funds in Brussels: a symbolic move, which has little impact without any actual follow through, like for example, actually imposing austerity. And while Greeks have been very good in the former (i.e. promises), they have been severely lacking in the latter (i.e. delivery).

That may be changing. According to Kathimerini, Greek Finance Ministry inspectors are about to start seeking out the owners of all local undeclared properties, while the law will be amended to allow for financial products and the content of safe deposit boxes to be confiscated electronically. The plan for the identification of taxpayers who have “forgotten” to declare their properties to the tax authorities is expected to be ready by year-end, according to the timetable of the Independent Authority for Public Revenue.

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Deutsche Bank Sued For Running An “International Criminal Organization” In Italian Court

JP Morgan, Goldman Sachs and Deutsche are all important Illuminati banks and they are all doing “God’s work”.

It’s just that nobody asked what kind of God.

This is their God:


Deutsche Bank Sued For Running An “International Criminal Organization” In Italian Court

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Financial Weapons Of Mass Destruction: Top 25 US Banks Have 222 TRILLION DOLLARS Derivatives Exposure

Financial Weapons Of Mass Destruction: Top 25 US Banks Have 222 Trillion Dollars Derivatives Exposure:

The recklessness of the “too big to fail” banks almost doomed them the last time around, but apparently they still haven’t learned from their past mistakes.

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Panic! Like It’s 1837

Panic! Like It’s 1837:

180 years ago today, everyone panicked. On May 10, 1837, New York banks finally realized that the easy money they were lending was unsustainable, and demanded payment in “specie,” or hard money like gold and silver coin. They had previously been accepting paper currency that for every $5 was backed by only $1 in silver or gold.

Things culminated to that point after years of borrowing the paper currency to expand west, buy land, and build infrastructure. As silver came in from Mexico, banks lent out five times the amount of their deposits–fractional reserve banking.

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A Problem Emerges: Central Banks Injected A Record $1 Trillion In 2017… It’s Not Enough

A Problem Emerges: Central Banks Injected A Record $1 Trillion In 2017… It’s Not Enough:

Having accelerated for four straight quarters from 2015q4 to a local peak of +5.0 percent in 20167q4, q1 saw the first slowing in global liquidity to a year over year growth rate of just 2.23 percent. In absolute terms it was $29.5 trillion, almost unchanged from 2016q3. This means that even a record $1 trillion in central bank liquidity is no longer enough.

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Contagion: Home Capital Bank Run Spreads To Another Canadian Mortgage Lender

Contagion: Home Capital Bank Run Spreads To Another Canadian Mortgage Lender:

Canada’s Equitable Group, another alternative mortgage lender, said it had started seeing “an elevated but manageable” decrease in deposit balances. The company said that customers had withdrawn an average C$75 million each day between Wednesday and Friday.

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This Is What A Bank Run Looks Like: Home Capital Loses 70% Of Deposits In One Week

This Is What A Bank Run Looks Like: Home Capital Loses 70% Of Deposits In One Week:

For those who need to think all the way back to the latest Greek bailout in 2015 to recall a similar bank run, here is what the deposit situation at HCG has looked like over the past month.

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Panic bank run leaves Canada’s largest alternative mortgage lender on edge of collapse

Panic Bank Run Leaves Canada’s Largest Alternative Mortgage Lender On Edge Of Collapse:

 After two years of recurring warnings (both on this website and elsewhere) that Canada’s largest alternative (i.e., non-bank) mortgage lender is fundamentally insolvent, kept alive only courtesy of the Canadian housing bubble which until last week had managed to lift all boats, Home Capital Group suffered a spectacular spectacular implosion last week when its stock price crashed by the most on record after HCG revealed that it had taken out an emergency $2 billion line of credit from an unnamed counterparty with an effective rate as high as 22.5%, indicative of a business model on the verge of collapse .

Or, as we put it, Canada just experienced its very own “New Century” moment.

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The real reason for abolishing cash is to microchip everyone, thereby controlling them more easily. #MarkoftheBeast

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Investors Rage After 3 Billion Yuan Vanish From China’s Largest Private Bank

Investors Rage After 3 Billion Yuan Vanish From China’s Largest Private Bank:

“If we can’t even trust a big national bank, what other financial institutions can we trust?” Liu Min, who bought 12 million yuan worth of WMPs from Minsheng Bank, said as he learned that his money was gone.

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So Many Triggers

So Many Triggers:

It’s not a story that’s likely to appear on the evening news, but it certainly should.

Deutsche Bank has announced that it will create more shares, selling them at a 35% discount. Existing shareholders have not been pleased and, in the first four days since the offer was announced, the value of existing shares dropped by 13% as shareholders began dumping them.

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