Jul 04

‘This was the nicest kid in school’: Courtroom reunion as judge recognizes defendant (VIDEO) (RT, July 4, 2015):

An emotional school reunion took place at a Florida court when a judge had suddenly recognized the defendant to be her former classmate from decades ago, whom she said she was friends with, and who was the nicest kid in middle school.

Judge Mindy Glazer at the Miami-Dade bond court was reading out the sentence for Arthur Booth, who was charged with burglary, resisting arrest, grand theft and related charges Thursday.

Continue reading »

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Jul 04

Thousands queue for ‘most exclusive website’ to see… (RT, July 4, 2015):

Thanks to curiosity, something mysterious known as the “most exclusive website” has made international headlines recently. Thousands of people are waiting in line to be allowed onto a website which only serves one person at a time, for 60 seconds.

As of Friday, almost 1.5 million minutes were “spent waiting to be exclusive” on the page created by Justin Foley of Ohio. Millions still have no idea what’s contained on the website – until their ticket comes up.

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Jul 04

‘British X-Files’ on UFOs to be released by 2016 – govt (RT, July 4, 2015):

Top secret files dubbed “the British X-Files,” which UFO hunters believe could prove extraterrestrials have visited the UK, are to be released by the Ministry of Defence (MoD).

UFO researchers and a House of Lords peer have campaigned for the release of 18 files about sightings that took place in the UK more than 30 years ago. Continue reading »

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Jul 04

Flashback:

Max Keiser on Greece: ‘The IMF is a Financial Mafia’ (April 28, 2010):

The only solution for Greece is to arrest the Goldman Sachs bankers immediately and all those involved in the fabrication of Greek economic data in 2000, when you became a member of the eurozone. The next step is to nationalize all banks like Sweden did in 1993. The International Monetary Fund is that last thing you need. You will lose your sovereignty. It exercises terrorism. You will be raped in such a way, that it will be the worst pain you have ever felt.


Varoufakis accuses Greece’s creditors of ‘terrorism’ ahead of crucial referendum (RT, July 4, 2015):

Greek Finance Minister Yanis Varoufakis has described the actions of Athens’ creditors as “terrorism,” but said agreement with them was inevitable in an interview published hours before a landmark referendum to accept or reject the bailout terms.

“What they are doing with Greece has a name: terrorism,” Varoufakis told Spain’s El Mundo daily. Why have they forced us to close the banks? To make people frightened. And when it comes to spreading terror, this phenomenon is called terrorism.”
Continue reading »

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Jul 04

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Jul 04

– Daredevil speed-flyer jumps from Alps into moving cable car at 50mph (VIDEO) (RT, July 4, 2015):

Professional speed flyer Arnauld Longobardi may as well just put movie studios out of business. The daredevil has just flown into a moving cable car thousands of meters above sea level, and has the crazy footage to prove it.

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Jul 04

What JPMorgan is doing to the “Other” commodities space, Citigroup has just done to the “Precious Metals” derivative market.


Citigroup Just Cornered The “Precious Metals” Derivatives Market (ZeroHedge, July 4, 2015)

 

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Jul 04

Greferendum

With 6 Hours Until The Greek Vote, This Is Where We Stand (ZeroHedge, July 4, 2015):

With just hours to go until Greeks head to the ballot box to decide the country’s fate in the eurozone, the latest polls show a nation divided with only a half percentage point separating the “no” votes from the “yes” votes.

Underscoring the ‘dead heat’ preliminary poll results, the yes’s and the no’s staged dueling protests in the streets of Athens on Friday night. All told, as many as 50,000 people participated in the competing demonstrations with PM Alexis Tsipras making an appearance at the “No” rally.

As a reminder, this is the schedule for the referendum: Continue reading »

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Jul 04

Could deposits below €100k be protected as it happened in Cyprus? The answer depends on the total amount of deposits above €100k. If there are enough of these large deposits above €100k, then most likely any required deposit haircut will be inflicted on these depositors only. There are no recent data on how big this universe of large deposits is. The most recent data from the European Commission suggest that at the end of 2012, covered (i.e. those below €100k) represented 75% of eligible Greek deposits. We suspect this number is now significantly higher leaving little room for depositors with less than €100k to be spared.

You’ve been warned, Greece!

Flashback:

Here is what happened to Mexico:

Hedge Fund Manager Kyle Bass Explains The New World Order (Panel Presentation):

On Greece:

For those who think a 50% write-down on debt will fix Greece, you have lost your mind. It is only a full wipe-out of the non-TROIKA-owned debt that is the only mathematical way for Greece to have any chance.

Don’t believe these governments when they tell you everything is going to fine. The day before Mexico devalued by 60% they denied that they would ever devalue. They can and will never tell you the truth. Find your own numbers.

Here is what happened to Belarus:

Belarus Devalues Its Currency By 56% Overnight, Against Every Currency Out There:

Luckily for those who held their “money” in the form of gold and silver, they just got an instantaneous 56% value preservation and a relative boost in their purchasing power with just one central bank announcement.


Will Greek Depositors Under €100,000 Be Spared In Case Of A “Bail-In”  (ZeroHedge, July 4, 2015):

One week ago, we first explained that as the Cyprus bail-in “blueprint” scenario unfolds, the one final, and most important, remaining variable in the ongoing Greek drama, soon to devolve to tragedy, is how big the ECB’s ELA haircuts would be in the case of a No vote, which would be the first catalyst of a depositor haircut.

ELA Haircut vs Deposit Haircut

Then, overnight, in a report since denied by both the Greek finance ministry and by the European Banking Authority Plan, the pro-Europe FT did yet another hit piece on Greece desperate to push those Greek voters on the fence ahead of tomorrow’s referendum to vote “Yes” (just think of the lost advertising revenue if say Deutsche Bank were to go under). Continue reading »

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Jul 04

wikileaks_us_spying_brazil

NSA spied on Brazil’s President Rousseff, dozens of top officials – WikiLeaks (RT, July 4, 2015):

The US National Security Agency tapped the telephones of 29 Brazilian government top officials as well as waged economic espionage against the country by listening in to calls of those managing Brazilian economy, WikiLeaks claims in a new release.

A top secret NSA target list published by the whistleblowing website Wikileaks on July 4 contains 29 key Brazilian government phone numbers. The list of those selected for intensive interception includes not only President Dilma Rousseff but also her assistant, her secretary, her chief of staff, her Palace office and even the phone in her presidential jet. Continue reading »

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Jul 04

H/t reader M.G.:

“This article related how communities around the world, including Fukushima, find the people to deal with nuclear disasters. Terrifying.”


BBC: People taken from movie theater by police, forced to go in reactor and deal with burning fuel rods — TV: Military picked men off street to battle meltdown — Women, minorities, homeless, and prisoners used by nuclear industry for most dangerous work (VIDEO) (ENENews, July 4, 2015):

Windscale_Movies

BBC, ‘Windscale – Britain’s Biggest Nuclear Disaster’ (emphasis added) — Tom Tuohy, deputy manager at Windscale plutonium production plant (at 8:00 in): “We were trying to push the burning fuel into the back of the reactor.” — But the heat had melted the cartridges, so they were stuck in the core… Radiation was so intense they could only work a few hours. They were running out of firefighters. — Neville Ramsden, Windscale health physicist: “The police from the [plutonium] factory had turned up looking for volunteers and they brought a bus. They decided the best way to get the volunteers was to go up to the cinema, and ‘volunteer’ the back 2 rows at the show to go… push the fuel rods out of the reactor.”

Chernobyl_Men_off_Street

Yorkshire Television, ‘Children of Chernobyl’ (at 4:00 in): “When the robots broke down because of the extreme radioactivity, men were sent in to cleanup the site. They were not volunteers. They were picked up off the streets and press ganged [i.e. taken by force] onto the roof… In 90 seconds, they received their permissible lifetime dose of radiation. The men were sent home and forgotten… They do not figure in any official casualty lists.” Continue reading »

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Jul 04

Greek euro

This Is Why The Euro Is Finished (The Automatic Earth, July 4, 2015):

This Is Why The Euro Is Finished

The IMF Debt Sustainability Analysis report on Greece that came out this week has caused a big stir. We now know that the Fund’s analysts confirm what Syriza has been saying ever since they came to power 5 months ago: Greece needs debt relief, lots of it, and fast.

We also know that Europe tried to silence the report. But what’s most interesting is that this has been going on for months, as per Reuters. Ergo, the IMF has known about the -preliminary- analysis for months, and kept silent, while at the same time ‘negotiating’ with Greece on austerity and bailouts. Continue reading »

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Jul 04

A Drone’s Eye View Of The Massive Numbers Behind The Greek “No” Vote (ZeroHedge, July 4, 2015):

Tens of thousands of Greeks flooded the streets of central Athens on Friday evening ahead of Sunday’s referendum.

Both the “yes” crowd and the “no” crowd were out in force with the former camped out in front of Olympic stadium and the latter in front of Parliament. Each rally boasted participation of more than 20,000 people according to local police.

“I call you to say again a big proud ‘no’ to ultimatums on Sunday,” PM Alex Tsipras shouted, in a speech to the “No” supports. “We can also say it in German: Nein, Frau Merkel, Nein,” another speaker quipped.  Continue reading »

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Jul 04

Dr. Paul Craig Roberts was Assistant Secretary of the Treasury during President Reagan’s first term. He was Associate Editor of the Wall Street Journal. He has held numerous academic appointments, including the William E. Simon Chair, Center for Strategic and International Studies, Georgetown University, and Senior Research Fellow, Hoover Institution, Stanford University.

Sunday’s Vote Will Determine Liberty Or Serfdom (Paul Craig Roberts, July 2, 2015):

According to history books, democracy originated in Greece. Of course, historians could be mistaken, but this is the prevailing view among Western populations with enough awareness to be interested to know.

What we are witnessing today, July 2, 2015, is that after 2,500 years in the Western World only the current Greek government is interested in democracy. The Greek government, to the surprise and consternation of every other European government, has called a referendum for the Greek people to decide the fate of Greece. For resorting to democracy, the Greek government has been universally denounced in the Western World.

So much for Western democracy. Continue reading »

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Jul 04

WeekInChinaStocks

China Scrambles to Put Plunge Protection Team Together: Banks Pledge Support For Crashing Market (ZeroHedge, July 4, 2015):

China has moved in the direction of direct intervention in its flagging equity markets, although it appears Beijing will try to orchestrate a “private” sector (whatever that means in China) solution first before going the nuclear route with the central bank’s balance sheet. As Bloomberg reports, the country’s largest brokerages are teaming up to invest nearly $20 billion in “blue chip” Chinese equities.

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Jul 03

“Greek banks are preparing contingency plans for a possible “bail-in” of depositors amid fears. The plans, which call for a “haircut” of at least 30 per cent on deposits above €8,000, sketch out an increasingly likely scenario for at least one bank, the sources said.”


Bank-robbery

Greek Banks Considering 30% Haircut On Deposits Over €8,000: FT (ZeroHedge, July 3, 2015):

Last week in “For Greeks, The Nightmare Is Just Beginning: Here Come The Depositor Haircuts,” we warned that a Cyprus-style bail-in of Greek depositors may be imminent given the acute cash crunch that has brought the Greek banking sector to its knees and forced the Greek government to implement capital controls in a futile attempt to stem the flow. Continue reading »

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Jul 03

Greece Has Spent A Half-Century In Default Or Restructuring (ZeroHedge, July 3, 2015):

On Thursday, we highlighted the pitiable plight of Greek businesses which, facing an acute cash crunch and suppliers unwilling to provide credit ahead of the country’s weekend referendum, are being forced to close the doors.

The country’s banks are set to run out of physical banknotes “in a matter of days” according to a “person familiar with the situation” who spoke to WSJ and Constantine Michalos, the president of the Athens Chamber of Commerce, fears the country’s stock of imported goods will only last for two or three more weeks.

Meanwhile, Greeks have resorted to scavenging for food and picking through dustbins for scrap metal and as we noted on Wednesday, this is hardly a recent development in Greece. High unemployment has plagued the country for years , becoming endemic and relegating many Greeks to a life of perpetual and severe economic hardship. Continue reading »

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Jul 03

Egypt on the edge of a full blown civil war. (Gefira, Junly 1, 2015):

In the last few days there were dozens of separate attacks in Egypt from the Sinai up to Cairo. Probably more than 60 people died while the Egyptian army used F16 attack plains to protect itself against it disgruntled population.It is clear that the Egyptian rulers will not be able to contain the current situation, today could be marked as the start of Egypt’s civil war.

Democratic elected governments were violently overthrown, in Algeria, Egypt and  Palestinian territories. In Algeria the FIS  had won the first held elections with a convincing majority in 1990 and 1992. It has been removed from power in 1992 by a coup d’etat that was highly approved by the West. Probably 150.000 people died in the civil war that followed these events up. Continue reading »

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Jul 03

obama-angry

Barack Obama Tells Another Whopper – He Did Not Create 12.8 Million Jobs (ZeroHedge, July 3, 2015):

America is better off when President Obama is out on the stump bloviating and boasting rather than in Washington actively doing harm. But the whoppers he just told the students at the University of Wisconsin are beyond the pale. Said our spinmeister-in-chief: “And the unemployment rate is now down to 5.3 percent. (Applause.) Keep in mind, when I came into office it was hovering around 10 percent. All told, we’ve now seen 64 straight months of private sector job growth, which is a new record — (applause) — new record — 12.8 million new jobs all told.” That’s a pack of context-free factoids.

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Jul 03

… at this very moment, politicians from Spain’s Podemos to Italy Five Star movement are drafting memos demanding that the IMF evaluate their own debt sustainability. Or rather unsustainability.


Did The IMF Just Open Pandora’s Box? (ZeroHedge, July 3, 2015):

By now it should be clear to all that the only reason why Germany has been so steadfast in its negotiating stance with Greece is because it knows very well that if it concedes to a public debt reduction (as opposed to haircut on debt held mostly by private entities such as hedge funds which already happened in 2012), then the rest of the PIIGS will come pouring in: first Italy, then Spain, then Portugal, then Ireland. Continue reading »

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