– It’s Official: Austria Repatriates Gold, Confirms Loss Of Faith In Bank Of England (ZeroHedge, May 28, 2015):
Earlier today the Austrian Central Bank confirmed the Kronen-Zeitung report, and said that by the year 2020, it would hold 50%, or 140 tons, of its gold domestically, up from 17% currently. This means that Austria will withdraw some 140 tons of gold from the BOE which holds 80% of Austria’s gold currently and send 92.4 tons back home to Vienna with another 47.6 tons being sent to Switzerland. Which is also the biggest news: Austria is explicitly demonstrating a lack of confidence in the “pro-western” system of which the Bank of England is a critical cog, and instead opting for “neutral” Switzerland, which will hold nearly 50 tons of the gold formerly located at the Bank of England.
Tags: Austria, EU, Europe, Global News, Gold, Government, Politics
– “The Greek Endgame Is Here”: Probability Of IMF Default Now 70%, Says Deutsche Bank (ZeroHedge, May 28, 2015):
Amid accelerating deposit outflows and an hourly flow of conflicting headlines, Deutsche Bank is out with a fresh take on the Greek endgame including an analysis of both the political wrangling that would need to take place in order for parliamentary approval of concessions to creditors and the mechanics of a default to the IMF.
Tags: Bonds, Collapse, Debt, EU, Europe, Global News, Government, Greece, Politics
– Putin Slams US Over FIFA Arrests: “Another Blatant Attempt By The US To Meddle Outside Its Jurisdiction” (ZeroHedge, May 28, 2015):
Following yesterday’s surprise DOJ indictment in which 14 FIFA affiliates were perp-walked out of Zurich’s swankiest hotel just days ahead of Sepp Blatter’s re-election, one person was quite displeased with this latest US intervention on the international arena: Russian president Vladimir Putin who accused the United States of meddling outside its jurisdiction by arresting officials from FIFA, further hinting that it was part of an attempt to take the 2018 World Cup away from his country.
Tags: Barack Obama, FIFA, Global News, Government, Obama administration, Politics, Russia, Soccer, U.S., Vladimir Putin
– Greece Feigned Deal Progress, Launched Rumors To Avert Bank Run (ZeroHedge, May 28, 2015):
Fearing an acceleration in deposit outflows from Greek banks, PM Alexis Tsipras suggested on Wednesday that a deal between Athens and creditors was imminent when in fact he had no evidence to support the contention. Greek officials now promise their optimism “is not just words.”
Tags: EU, Europe, Global News, Government, Greece, Politics, Society
– Greece Owes $1.2 Billion To Drugmakers As Government Can No Longer Afford Basic Medical Supplies (ZeroHedge, May 28, 2015):
In a sign of just how dire the situation in Greece truly is, Reuters is reporting that Athens now owes billions to drugmakers as the consequences of being completely beholden to the ”institutions” which control the printing of a fiat currency now weigh on Greece’s ability to provide basic medical services for its citizens.
Tags: Collapse, EU, Europe, Global News, Government, Greece, Politics, Society
– Poroshenko Threatens To Declare Martial Law In Ukraine Within Hours “To Demonstrate Readiness For War” (ZeroHedge, May 28, 2015):
In the case of any advance of Ukrainian army positions – and who is to say whether there is or not – Ukraine’s President Poroshenko says he will declare martial law across his country within hours. As RT reports, Poroshenko added that Ukraine will “demonstrate its readiness for war, for victory, for defense and for peace.”
For martial law to be enacted, the parliament has to approve a corresponding ruling by the Ukrainian president. It can be declared in the whole country or selected regions. And as RT reports, Continue reading »
Tags: Global News, Government, Martial Law, Petro Poroshenko, Politics, Russia, Ukraine
– Anthrax: Pentagon accidentally sent bioweapon to as many as nine states (Guardian, May 28, 2015):
Department of Defense meant to send dead or inactivated spores, but government does not believe there is a risk to the public, spokesman says
The Pentagon has conceded it accidentally shipped samples of a live bioweapon across nine states and to a US air base in South Korea.
In an extraordinary admission on Wednesday, the Pentagon revealed what it called an “inadvertent transfer of samples containing live Bacillus anthracis”, or anthrax, took place at an unspecified time from a US Defense Department laboratory in Dugway, Utah. Continue reading »
Tags: Anthrax, Global News, Government, Stock Market, U.S.
H/t reader M.G.:
“Looks like the greedy guts are adding to unemployment.
Remember, for every job lost, seven more are put at risk.”
– JPMorgan Chase & Co. (JPM) To Cut More Than 5,000 Workers By End Of 2016: Report (International business Times, May 28, 2015):
JPMorgan Chase & Co. (NYSE:JPM) is starting to lay off more than 5,000 employees in a $1.4 billion cost-cutting measure to be completed by the end of 2016, the Wall Street Journal reported Thursday, citing people familiar with the matter. A spokeswoman for JPMorgan Chase would not comment on the report, but said the layoffs are part of cost-cutting efforts outlined in a presentation released earlier this year.
JP Morgan, the largest U.S. bank, is overhauling its nearly 5,600 branches. Chairman and CEO James Dimon said Wednesday the average Chase bank branch will lose one employee over the next two years. The bank has already cut 1,000 jobs. Continue reading »
Tags: Economy, Global News, Jamie Dimon, JPMorgan
– D.C. bomb squad destroys pressure cooker in ‘suspicious’ car (The Ugly Truth, May 26, 2015):
Vehicle owner Israel Shimeles arrested and charged; incident takes place near US Capitol
Times of Israel
A bomb squad safely destroyed a pressure cooker found in a “suspicious” vehicle left unattended Sunday afternoon on the National Mall near the US Capitol building and the vehicle’s owner was located and arrested, a US Capitol Police spokeswoman said. Continue reading »
Tags: Global News, Government, Politics, terror, U.S.
– Emergency Powers Give Barack Obama Authority Over Just About Everything During A Major National Crisis (Economic Collapse, May 27, 2015):
Presidents have always exercised emergency powers, but now thanks to dozens of new laws, regulations, court decisions and executive orders, Barack Obama is the most powerful president in all of U.S. history. Of course the U.S. Constitution does not actually give the president any special powers during a time of national emergency, but over time presidents have decided that they should be able to exercise such powers and the courts have generally agreed with them. During World War II and prior to that, these emergency powers were largely uncodified and were primarily used during times of war. But since World War II things have completely changed, and this has particularly been true since 9/11. Over the past decade or so, a whole host of extraordinary powers have specifically been given to the office of the president, and all that it takes to exercise them is a major “national emergency”. So if we do have a full-blown economic collapse, a historic natural disaster, a significant war or a massive pandemic, Barack Obama could use the emergency powers that he has been given to essentially take authority over everything. Continue reading »
Tags: Barack Obama, Global News, Government, Military, Obama administration, Politics, U.S.
– Gold Bullion Is “100% Guarantee from Legal and Political Risks” – Russia (Goldcore, May 27, 2015):
– Gold is a “100% guarantee from legal and political risks”
– Russia’s central bank buys another 300,000 ounces in April
– Russia views its overseas assets as vulnerable
– ‘De-dollarisation’ continues across Asia
– Gold offers protection from growing risks today
Russia’s central bank once again increased its gold holdings substantially in April. They added another 300,000 ounces to their existing stockpile bringing the total up to 40.1 million ounces (see chart below). Continue reading »
Tags: Global News, Gold, Government, Politics, Russia, Vladimir Putin
– The End Game Continues: Austria Repatriates Gold (ZeroHedge, May 27, 2015):
After Germany and the Netherlands decided to repatriate a substantial amount of gold from vaults abroad to the vaults in respectively Amsterdam and Frankfurt, now Austria is joining the ‘bring our gold home’ movement.
After increasing pressure from the Austrian people on the government and the central bank to increase the ratio of the gold effectively held in the Austrian Central Bank in Vienna, the central bank has finally made the decision to effectively do so. Less than 20% of Austria’s (relatively) sizeable gold reserves were held in its own vaults with the remainder being stored in Switzerland and London. Austria will now remove 63% of the gold from London and transport it to both Switzerland and Austria. This will be an interesting test case to see how long it will take the Bank of England to ship the 140 tonnes of gold (4.5 million ounces) to Vienna, and we dare to bet this will either take much longer than anticipated, or we’ll suddenly see another gold withdrawal from the Federal Reserve which will very likely be the magical 125-150 tonnes number. Continue reading »
Tags: Austria, China, Economy, Global News, Gold, Government, Kazakhstan, Politics, Russia, Society
– Peak Inequality: $500 Million Asking Price For LA Mansion (Dark-Bid, May 27, 2015):
Just when you thought you had seen it all, Nile Niami pulls another mansion out of his hat. The film producer and speculative real estate developer announced the asking price for the mansion he is building on a hill in Bel Air, the location where the memorable Fresh Prince of Bel Air TV show takes place. Unfortunately, Will Smith is not fresh enough for this place. You have to be a literal prince to afford it.
The mansion is not even finished yet, but it will be over 100,000 square feet. The main residence is 74,000 square feet, but several other homes will be included. At 5,000 square feet, the master bedroom is larger than most people’s houses. The property also features a 30-car garage and a Monaco-style casino. Continue reading »
Tags: Economy, Global News, Los Angeles, Real Estate, Society, U.S.
– How Clinton Foundation Donations Led To Billions In Weapons Sales To Autocratic Regimes (Liberty Blitzkrieg, May 26, 2015):
Another day, another Clinton Foundation related scandal. In the latest expose by International Business Times’ David Sirota, we learn about the explosion in weapons sales to certain nations during Hillary Clinton’s tenure as Secretary of State. Billions of dollars in sales went to autocratic regimes notorious for human rights abuses who donated generously to the Clinton Foundation. Should we be surprised? No. Should we be outraged and disgusted? Absolutely. Of all the Clinton scandals, the following is the most dangerous to peace on earth.
Here are some excerpts from the IBT article detailing how taxpayer money is being used to arm the world into oblivion:
Even by the standards of arms deals between the United States and Saudi Arabia, this one was enormous. A consortium of American defense contractors led by Boeing would deliver $29 billion worth of advanced fighter jets to the United States’ oil-rich ally in the Middle East.
Israeli officials were agitated, reportedly complaining to the Obama administration that this substantial enhancement to Saudi air power risked disrupting the region’s fragile balance of power. The deal appeared to collide with the State Department’s documented concerns about the repressive policies of the Saudi royal family.
In the event you want a highlight reel of heinous Saudi behavior, click here. Continue reading »
Tags: Barack Obama, Economy, Global News, Government, Hillary Clinton, Nuclear, Obama administration, Politics, U.S., Weapons
– “Very chilling warning” from Japan expert who foretold Fukushima meltdowns: “The Gods are warning us of something even more serious… incredibly disastrous” — Professor: Suddenly, our sun is doing very strange things… Crisis much worse than Carrington Event possible… Most unstable period since ice age, I’m very concerned about nuclear plants (VIDEO) (ENENews, May 26, 2015):
Katsuhiko Ishibashi, Seismologist and Emeritus professor at Kobe Univ., Apr 28, 2015 (at 38:00 in): “This really is what I think… The Gods of this huge nature are actually warning the people of the Japanese archipelago in steps… In 2003, there was an earthquake that shook a nuclear plant where the design basis went over the standard seismic motion… Then 2007 at Kashiwazaki-Kariwa… a direct, serious hit — and yet the Japanese people did not listen. Then it gave us Fukushima… The Gods are warning us that something even more serious can happen in this Japanese archipelago. And of course nuclear power plant accidents can result not just by earthquake. It could have an incredible, serious effect. It has been dishing it out step-by-step, warning us toward something that actually could be incredibly disastrous” … Moderator: “Very chilling warning” (Japan Times, May 1, 2015: “In 1997, [Ishibashi] wrote a report… where he coined the term “nuclear earthquake disaster.” The paper was written about 14 years before the Fukushima disaster, yet reads like a post-mortem of what happened: A major quake knocks out external power to the plant’s reactors and unleashes a tsunami… leading to loss of cooling and meltdowns.”) Continue reading »
Tags: Climate Change, Earthquake, Environment, Fukushima, Global News, Global Warming, Japan, Nuclear, Nuclear reactors, Radiation, Solar Cycle, Sunspot activity
– Iraq Trolls US, Calls Latest Military Operation “We Are At Your Services, Hussein” (ZeroHedge, May 27, 2015):
While some have argued that President Obama and his folly-prone foreign policy debacle is the laughing stock of the world, it seems, as DefenseNews reports, that the Iraqi military is directly mocking America. Just a day after defense secretary Ash Carter accused them of cowardice, an umbrella group for mostly Shiite militia and volunteer fighters, Hashed al-Shaabi, said it had dubbed a military campaign to cut off the Islamic State group in Anbar province as “Operation Labaik ya Hussein,” which roughly translates as “We are at your service, Hussein.”
Tags: Barack Obama, Global News, Government, Iraq, Military, Obama administration, Politics, U.S.
– Kiss Your Pension Fund Goodbye (Armstrong Economics, May 25, 2015):
I have been warning for some time that government was eyeing up pensions.The amount in private pension funds is about $19.4 trillion. The question that has been debated in secret behind the curtain is how to justify to the people taking that over. I have been warning that if this is seized by government, it will come after 2015.75. Just how that is to be accomplished was finally settled by the Supreme Court without any justification constitutionally.
The US Supreme Court ruled last week in the unanimous, 8-page decision in Tibble v. Edison holding that employers have a duty to protect workers in their 401(k) plans from mutual funds that are too expensive or perform poorly. That is simply astonishing since there is no constitutional requirement for even government to provide social benefits. The Supreme court held in HARRIS v. McRAE, 448 U.S. 297 (1980) it was explained that the constitution is negative not positive. There is no duty imposed upon the state to provide a program for that would convert the constitution from a negative restrain upon government to a positive obligation to provide for everyone. Continue reading »
Tags: Global News, Government, Martin Armstrong, Pension, Politics, Retirement, Society, U.S.
– Record Rainfall in Texas, Oklahoma, Arkansas, Nebraska (Ice Age Now, May 27, 2015):
Several cities have already seen one of their wettest MONTHS on record. And the month isn’t over. And there’s more rain in the forecast
Fort Smith, Arkansas – With 18.33 inches of rain through 2:00 a.m. Tuesday, Fort Smith broke the previous record of 15.02 inches in June 1945, making it the wettest month on record
Oklahoma City – On Saturday, the city broke its June 1989 record of 14.66 inches to become the wettest month in Oklahoma City history. Continue reading »
Tags: Arkansas, Environment, Global News, Meteorology, Nebraska, Oklahoma, Texas