Apr 23

From the article:

“And right now that propaganda matrix is assuring the American people that everything is going to be just fine.

Well, they better be right. Because if not, they are going to have millions of people extremely angry with them when things really start falling to pieces.”


koolaid

Hopium: How Far Can Irrational Optimism Take The U.S. Economy? (Economic Collapse, April 22, 2015):

If enough people truly believe that things will get better, will that actually cause them to get better?  There is certainly something to be said for being positive and thinking that anything is possible.  And as Americans, optimism seems to come naturally for us.

However, no amount of positive thinking is ever going to turn the sun into a block of wood or turn the moon into a block of cheese.  Any good counselor will tell you that one of the first steps toward recovery is to stop being delusional and to come to grips with how bad things really are. 

When we deny reality and engage in irrational wishful thinking, we are engaging in something called “hopium”.  This is a difficult term to define, but the favorite definition of hopium that I have come across so far goes like this:The irrational belief that, despite all evidence to the contrary, things will turn out for the best.”  Continue reading »

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Apr 23

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Why Sarao Is The Flash Crash Patsy: He Threatened To Expose The “Mass Manipulation Of High Frequency Nerds” (ZeroHedge, April 23, 2015):

There are several notable items in Bloomberg’s comprehensive overnight summary of the epic humiliation America’s market regulators are about to undergo, complete with yet another round of theatrical Congressional kangaroo courts, which will lead to a lot of red faces, a wrist slap or two and maybe even the termination of one or two lowly employees and… nothing else.

Because what difference does it make?

At this point only a bottom-up overhaul can “fix” the fragmented, broken market which by definition can only come after the next market crash, one which will promptly be blamed on HFTs (which leaving the central bankers unscathed).

Back to the Bloomberg piece in which we first discover that it wasn’t even the CFTC that, 5 years later, “figured out” the flash crash was one person’s fault: Continue reading »

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Apr 23

Half Of US Frackers Will Be Dead By Year End, Weatherford Warns (ZeroHedge, April 23, 2015):

Following the CEO’s comments that over 100,000 energy jobs will be lost this year, an executive with Weatherford International – the fifth largest US fracker – has warned half of the 41 fracking companies operating in the U.S. will be dead or sold by year-end because of slashed spending by oil companies. “We go by and we see yards are locked up and the doors are closed,” said Rob Fulks, seemingly confirming what Weatherford CEO Duroc-Danner said earlier in the year, “we’re now confronted with an unusually severe market contraction.” Continue reading »

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Apr 23

“Fed has created abnormal market conditions by printing money and keeping interest rates low. Investors are looking for growth anywhere they can find it and tech companies are good targets – at these values, however, all tech stocks are expensive – even looking at 5+ years of revenue growth down the road. This means that most value-driven investors have left the market and the remaining 5-10%+ increase in market value will be driven by momentum investors. At some point there won’t be any momentum investors left buying at higher prices, and the market begins to tumble. May be 10-20% correction or something more significant, especially in tech stocks.”


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How The Second Tech Bubble Will Burst, In The Words Of Silicon Valley’s “Poster Child” And World’s Youngest Billionaire (ZeroHedge, April 23, 2015):

Back in December, following the Sony email leak, the world was granted a second (again uninvited) glimpse into the private life and thoughts of the person who had previously suffered another email leak, this time exposing his fraternity days explots: Snapchat founder and CEO Evan Spiegel.

And while many have been quick to mock Spiegel for some of his boyish ways, the reality is that the not only is the 24-year-old the world’s youngest billionaire, but he has quickly won the admiration of Silicon Valley’s brand names like Twitter CEO Dick Costolo who has said “I really think he is one of the best product thinkers out there right now.” Continue reading »

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Apr 23

parthenon

Forget “Grexit”, “Grimbo” Has Arrived (ZeroHedge, April 23, 2015):

If you didn’t know any better you might think “Grimbo” was a new Sesame Street character. Far from being the name of something that brings smiles to the faces of young children however, it’s actually the latest one-word take on the likely outcome of Greece’s protracted, painful negotiations with creditors, which will continue tomorrow in Riga where progress is, according to pretty much everyone that will be involved, unlikely. The new term follows in the footsteps of the classic (but now tired) “Grexit” and its underrated predecessor “Graccident,” and refers to two of the four outcomes Citi imagines are possible in the unfolding Greek drama. Here, via Citi, are the scenarios that would constitute Grimbo: Continue reading »

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Apr 22

China

China Has A Massive Debt Problem … And Why It Is About Get Much Massiver (ZeroHedge, April 22, 2015):

We’ve spent quite a bit of time recently discussing the fact that China faces tough choices as Beijing attempts to counter decelerating economic growth while maintaining a peg to what has lately been one of the world’s strongest currencies. With pressure coming from four consecutive quarters of capital outflows totaling some $300 billion, devaluation is a somewhat risky (if inevitable) proposition and so the PBoC has opted for interest rate and RRR cuts to keep liquidity flowing into the economy.

But even as the reserve requirement cut freed up more than a trillion yuan, policymakers must also grapple with competing agendas such as deleveraging a system that, as we exposed more than two years ago, and as Bloomberg now reports, is weighed down by a veritable mountain of debt.

China has a $28 trillion problem. That’s the country’s total government, corporate and household debt load as of mid-2014, according to McKinsey & Co. It’s equal to 282 percent of the country’s total annual economic output. Continue reading »

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Apr 22

Related info:

ECB Prepares To Sacrifice Greek Banks With 50% Collateral Haircut:

The bottom line – it’s over! Absent Russian ‘loans’ or Chinese infrastructure deals, the “Cyprus”-ing will begin shortly which perhaps Greek depositors will front-run better than the Cypriots.”


GREXIT

Grexit: Remaining In The Eurozone Is No Longer ‘The Base Case’ For Greece (Economic Collapse, April 21, 2015):

According to the Wall Street Journal, Greece staying in the eurozone is no longer “the base case” for European officials, and one even told the Journal that “literally nothing has been achieved” in negotiations with the new Greek government since the Greek election almost three months ago.  In other words, you can take all of that stuff you heard about how the Greek crisis was fixed and throw it out the window.  Over the next few months, a big chunk of Greek government bonds held by the IMF and the European Central Bank will mature.  Unless negotiations produce a load of new cash for Greece, there will be a default, and right now there is very little optimism that we will see an agreement any time soon.  In fact, as I wrote about the other day, behind the scenes banks all over Europe are quietly preparing for a Grexit.  European news sources are reporting that the Greek banking system is on the verge of collapse, and over the past couple of weeks Greek bond yields have shot through the roof.  Most of the things that we would expect to see in the lead up to a Greek exit from the eurozone are happening, and now we will wait and see if the Greeks actually have the guts to pull the trigger when push comes to shove. Continue reading »

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Apr 22

First Photograph Emerges Of The “Criminal Trading Mastermind” Reponsible For The Flash Crash (ZeroHedge, April 22, 2015):

Wall Street has found a new, unwitting source of humor: the CFTC.

The reason, of course, is that according to the “regulator” the gullible investing public is expected to believe that one single person, operating out of a non-collocated, latency fortress in Hounslow…

The sun sets on the address where Nav Sarao Futures Limited is registered, in Hounslow

… is responsible for the May 2010 flash crash.

The implication being that the perpetrator has been caught and now confidence in broken markets can be restored, however what the CFTC has in effect done is further undermine faith in a market, which apparently is so defenseless it has absolutely no countermeasures to the simplest of predatory trading strategies, namely spoofing: spoofing which takes place millions of times every single day across all global markets (as we showed back in 2013 in Watch The Banned HFT Spoofing Algo In Action).

The CFTC’s inadvertent humor, however, is no laughing matter to the person implicated in the latest despeate attempt to scapegoat a non-US institution for the flash crash (just ahead of the statue of limitations running out no less): not only is Navinder Singh Sarao, a British national, facing decades in prison in the worst case as reported earlier, but moments ago he had to pay a massive 5 million pound bail to stay out of jail for the duration of his case: an amount that is usually reserved for Class A felons, those who have caused grievous bodily injury and suffering, or worse, instead of merely a BTFD opportunity. Continue reading »

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Apr 22

gazprom

EU charges Gazprom with ‘abusing’ market position in Central & Eastern Europe (RT, April 22, 2015):

Russia’s biggest gas utility, Gazprom, was hit with an antitrust case by European Union regulators for “abusing” its dominant position and overcharging customers for gas supplies. The investigation against the Gazprom has been ongoing for 2 years.

“We find that it (Gazprom) may have built artificial barriers preventing gas from flowing from certain Central Eastern European countries to others, hindering cross-border competition,” European Competition Commissioner Margrethe Vestager said in a statement. Vestager said there is no political element to the case. Continue reading »

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Apr 22

Why Are Oil & Gas Workers Mysteriously Dying Across America? (ZeroHedge, April 22, 2015):

Over the past several years, oil & gas workers in North Dakota, Colorado, Texas, Montana, and Oklahoma have mysteriously died while conducting routine checks of oil levels at tank batteries. In many cases, the fatalities were ruled to have been the result of natural causes. Now, it appears the real culprit has been found. The question is: how much did the industry know and why was the problem not addressed?

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Apr 21

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– The Mystery Of China’s Gold Holdings Is Coming To An End (ZeroHedge, April 21, 2015):

Back in 2011, Zero Hedge first asked the key question that matters to the gold market: what are China’s true holdings of physical gold.

As is well known, the last time China did provide an update of its official gold inventory was in early 2009 when it disclosed to the IMF some 1,054.1 tons of gold held at the PBOC headquarters (or elsewhere).  The problem is that this number is now very outdated, and substantially undercuts China’s true gold holdings. Continue reading »

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Apr 21

Russian President Putin and Greek Prime Minister Tsipras attend a signing ceremony at the Kremlin in Moscow

Greece May Sign Russia Gas Deal As Soon As Today (ZeroHedge, April 21, 2015):

It appears that Herr Schaeuble will be left in the cold disappointed as following comments from the Greek energy minister that a deal is coming “soon,”  it is being reported that:

*RUSSIA MAY SIGN GAS LINK ACCORD W/ GREECE TODAY: ROSSIYA 24
*GREECE MAY GET LOANS USING RUSSIA GAS TRANSIT GUARANTEE: MILLER

According to Gazprom’s CEO comments on Greek TV, following his meeting with Greek PM Tsipras, Russia will guarantee 47BCM/YR of gas via Greece with the link to be built by a Russian-European group at a cost of around €2 billion.

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Apr 21

This is of course perfectly normal and nothing to worry about.

matrix-system-failure

Prepare for collapse.


European Banks Are Paid To Borrow For First Time Ever As Euribor Goes Negative (ZeroHedge, April 21, 2015):

Mario Draghi said this week that the transmission channels for European Q€ were opening up and crowed how well his cunning plan was working (by well we assume he means stocks are up). Today we get the ultimate test of that ‘transmission’ as 3-Month EURIBOR fell below 0.00% for the first time ever (likely wreaking havoc on European derivative pricing models). In English that means banks are being paid to borrow from one another in the interbank money-markets (which sounds a lot like a ‘glut’ of excess cash) seemingly confirming ICMA’s de Vidts fears: “We are scared about the [repo] market freezing,” as the ECB is “driving without headlights in the dark.”Of course this is yet another disturbing distortion on the heels of homeowners being paid to take out mortgages…

Banks now paid to borrow from one another…

20150419_euribor

As fears of the repo market in Europe freezing appear to be confirmed… (via Reuters),

The European Central Bank (ECB) risks secured-lending or repo markets grinding to a halt unless it works more closely with national central banks (NCBs) to improve liquidity, a senior trade association official told Reuters. Continue reading »

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Apr 21

In what may be a harbinger of things to come and in a sign that Beijing will allow the market to play a greater role in determining companies’ financial future, a subsidiary of China South Industries Group has missed a coupon payment, marking the first default by a Chinese state-owned firm.


BTTeaser

First Chinese State-Owned Firm Defaults On Its Bonds (ZeroHedge, April 21, 2015):

Just hours after Chinese property developer Kaisa defaulted on two dollar-denominated 2018 notes (the 30-day grace period on some $52 million in interest due March 18 expired), we learn that a third publicly-listed Chinese firm will now miss a coupon payment proving yet again that “you never know where the skeletons in the closet are or what company will be next.”

This time it’s Baoding Tianwei Group Co.. which, as Bloomberg reports, has been struggling for quite some time: Continue reading »

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Apr 21

irony-alert-ironic

Ten Wonderful Things I’m Grateful For (Irony Alert) (Of Two Minds, April 20, 2015):

Being grateful boosts your happiness. Ten wonderful things I’m grateful for.

Since every volume on the nearly endless shelf of pop psychology self-help books recommends working up some gratitude as the key to happiness, I’ve conjured up a list of what I’m grateful for. (Please turn your irony setting on.) Continue reading »

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Apr 20

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Bank Of England Exposes US Cronyism: Questions Why Buffett’s Berkshire Hathaway Is Not Too Big To Fail (ZeroHedge, April 20, 2015):

If you thought currency-wars were a problem, just wait until crony-wars begin. In a stunning show of disagreement among the omnipotent, The FT reports that a Freedom of Information Act request has confirmed The Bank of England wrote to US authorities seeking clarity about Berkshire’s absence from a provisional list of “systemically import” (Too Big To Fail) financial institutions (SIFIs). The US Treasury declined to comment…

With MetLife suing the US government to try to escape being deemed systemically important by Washington (which means the firm may need to hold more capital to cover unexpected losses and could face a requirement to draw up “living wills” to make them easier to wind down in a crisis), The FT reports on questions over Berkshire Hathaway’s status…

British regulators have challenged their US peers over their apparent reluctance to subject Warren Buffett’s Berkshire Hathaway to tougher scrutiny as part of a worldwide push to make the financial system safer. Continue reading »

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Apr 20

Gazprom-Logo

As Gazprom CEO Arrives In Athens, EU (Coincidentally) Files Anti-Trust Charges Against Russian Giant (ZeroHedge, April 20, 2015):

As the head of Russian gas giant Gazprom, Alexei Miller, arrives in Athens tomorrow (for talks with Greek PM Tsipras about “current energy issues of interest,” which we suspect will include finalizing the “Turkish Stream” pipeline heralded by many as Greece’s potential get-out-of-Troika-jail-card), he will face an increasingly anxious European Union. Fresh from its suit against Google, the WSJ reports, the EU’s competition regulator plans to file formal antitrust charges against Russia’s state-owned gas company OAO Gazprom on Wednesday. This re-opens a suit from 2012 saying that it suspected the company of abusing its dominant position in those countries’ natural-gas supply. It appears Europe is getting nervous…

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Apr 20

“Will fail”???

matrix-system-failure


Multibillion Hedge Fund Manager: “Ultimately QE Will Fail; US And China Might Enter Recession At The Same Time” (ZeroHedge, April 20, 2015):

“Ultimately, the current QE programs will fail. I think most likely through a large devaluation in the emerging market currencies.  Having dodged and parried so many blows from Central Bank QE programs, the market is seemingly failing to break higher. Breadth is narrowing in the US stock market, and credit spreads widening. Economic data, with the exception of jobs, which is a lagging indicator, indicate the US economy is peaking. To me it looks like the US and China might go into recession at the same time.”

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Apr 20

As a side note:

If you take advice from Krugman, then you are either a bloody idiot, …

Paul-Krugman-Keynesians-Fail

… or an elite puppet (or both).


–  Did Greece Just Launch Capital Controls: “Mandatory Cash Transfer” Decreed Due To “Extremely Urgent Need” (ZeroHedge, April 20, 2015):

We warned last week that capital controls were inevitable and it apears the first steps have been taken (very quietly):

  • GREECE ISSUES DECREE: LOCAL GOVTS OBLIGED TO TRANSFER DEPOSIT RESERVES AT CENTRAL BANK

So, following the pension fund raid, the Greek government is now centralizing all Greek cash citing an extremely urgent and unforeseen need.”.

One wonders if this is per Krugman’s advice?

Tsipras-Krugman

As Bloomberg reports: Continue reading »

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Apr 19


18.04.2015

Description:

I want to thank Stephanie for the footage, Pictures and info.
She filmed this at the Pico Rivera California Walmart Location That recently Closed for suspicious reasons. Walmart had never contacted the County to get permits for Plumbing work. They have now covered the windows with black tarp, surrounded the place with cops and built a wall up inside so no one can see whats going on past the Pharmacy area. Why would All this be going on for PLUMBING? Plus Cops at the receiving dock at the back!
Questions remain, but thanks to folks out there that share their info to let others know what is Really Going On! Stay Tuned for More!

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WalMart-closures

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