ECONOMY | WHAT REALLY HAPPENED


ECONOMY

Jul 09 15:32

No prison for accounting executive in Madoff fraud case

A New York accounting firm executive who worked for some of Bernard Madoff's most important clients has been spared prison time.

Seventy-nine-year-old Paul Konigsberg was sentenced Thursday in federal court in Manhattan. He pleaded guilty last year to conspiracy and falsifying books and records.

The judge did not require any post-sentence supervision of Konigsberg, leaving him free to visit grandchildren in Russia. Konigsberg smiled and hugged family and friends after the ruling came down.

Jul 09 15:28

School Letter Threatens Parents with Call to DHS

“Children must be picked up on time. If they are not picked up on time, we will call DHS and you will then have to pick them up at court the next day.”

Jul 09 14:46

Jim Sinclair: I Think the PPT Knew They Were Going to Be Overwhelmed & Pulled the Plug!

Scenario number three seems to me to be the meatiest. I spoke to Jim Sinclair while the market was in closure to see what his take was. He immediately said to me; “it’s like if in a casino and everyone starts winning, mysteriously either the lights go out of someone pulls a fire alarm …no more gambling! I think the PPT knew they were going to be overwhelmed, if this were the case and I was the chairman of the NYSE, I would run upstairs and pull the plug out of the wall. …Problem solved …for now!“.

Jul 09 14:15

Throughout history, debt and war have been constant partners

Somewhere in a Greek jail, the former defence minister, Akis Tsochatzopoulos, watches the financial crisis unfold. I wonder how partly responsible he feels? In 2013, Akis (as he is popularly known) went down for 20 years, finally succumbing to the waves of financial scandal to which his name had long been associated. For alongside the lavish spending, the houses and the dodgy tax returns, there was bribery, and it was the €8m appreciation he received from the German arms dealer, Ferrostaal, for the Greek government’s purchase of Type 214 submarines, that sent him to prison.?

Jul 09 14:05

FLASHBACK 2012 - New York Stock Exchange sold to derivatives company in $8bn takeover

The New York Stock Exchange called time on two centuries of independence on Thursday, agreeing to an $8.2bn takeover that will hand control of the icon of American capitalism to an Atlanta-based energy trader.

The stock exchange's holding company, NYSE Euronext, has agreed to an offer of $33.12 a share in cash and stock from IntercontinentalExchange (ICE). ICE was founded in 2000, NYSE in 1817. The combined company would have headquarters in both ICE's home of Atlanta and in New York.

The takeover comes amid a historic shift for Wall Street and stock exchanges around the world. The move to electronic trading, fierce competition between exchanges and the sharp decline in trading commissions has led to a wave of mergers and takeover offers that have failed amid regulatory concerns.

Jul 09 13:58

Greece seeks bailout totaling $55 billion, offers painful spending cuts

Greece is seeking another bailout totaling at least 50 billion euros ($55 billion) from its European creditors and offering to make painful spending cuts and tax increases as it races to avert a financial meltdown, according to government sources.

Under a 10-page blueprint completed late Thursday, the country said it would undertake austerity measures worth between 12 billion and 13 billion euros ($13 billion to $14 billion), including raising taxes on cafes, bars and restaurants.

Government leaders will bring the proposal before the Greek parliament for approval over the next few days as a display of good faith as it attempts to rebuild trust with its European creditors after months of rocky negotiations.

Jul 09 13:57

The Inevitable Grexit and Banking Collapse

Dimitri Lascaris Report: Credibility of Prime Minister Alexis Tsipras is hanging by a thread, in the meantime 15 out of 18 European governments support ousting Greece from the Eurozone.

Jul 09 13:46

Are The E.U. And Asia Turning A Blind Eye To Russian Sanctions?

In a previous article on Oilprice, I questioned whether western sanctions imposed on Russia were being regularly breached by E.U. and Asian companies, noting that sanctions only work if all countries unite behind them.

Jul 09 13:44

Greece debt crisis: Athens accepts harsh austerity as bailout deal nears

The Greek government capitulated on Thursday to demands from its creditors for severe austerity measures in return for a modest debt write-off, raising hopes that a rescue deal could be signed at an emergency meeting of EU leaders on Sunday.

Jul 09 13:23

France’s Biggest Bank Says Bitcoin Could Make Banks Redundant

By Derrick Broze

In another sign that the world is taking bitcoin seriously, an analyst with French bank BNP Paribas says bitcoin’s blockchain technology could make existing companies “redundant”.

In BNP’s magazine Quintessence, analyst Johann Palychata writes that the blockchain “should be considered as an invention like the steam or combustion engine.” Palychata writes that the blockchain has the potential to change the world of finance, if not the entire world...

Jul 09 13:10

The Greek government on Thursday evening approved a package of specific reform measures it will present to foreign creditors in an effort to break an impasse that has raised questions about austerity and democracy across the European continent.

The Greek government on Thursday evening approved a package of specific reform measures it will present to foreign creditors in an effort to break an impasse that has raised questions about austerity and democracy across the European continent.

Jul 09 12:35

China’s Great Depression Nears?

Jul 09 12:14

Many in US establishment want war with Russia for economic profits: Grossman

International lawyer Barry Grossman says there are people in the United States who are seeking a military conflict with Russia for their own economic profits.

Jul 09 12:00

Ford to move Focus, C-Max from Michigan Assembly

Ford Motor Co. said Thursday it will move production of the Focus and C-Max from its Michigan Assembly Plant in Wayne starting in 2018.

Ford did not say where production was moving to and that it was reviewing "several possible options," but in a note handed out to UAW members at the plant, UAW Chairman Bill Johnson said production of the Focus would move "to a location outside of the United States."

Webmaster's Commentary: 

This is the plant where Obama spoke about the resurgent auto industry.

Jul 09 11:12

The chart that disproved monetarism:

Jul 09 10:50

2015 July Gold and Silver Rate Analysis

Jul 09 10:22

Obama To Upgrade Malaysia On Human Rights Despite Mass Graves

The Obama administration will remove Malaysia from its official list of the world's worst human trafficking offenders, according to Reuters, a move human rights advocates fear will damage U.S. credibility.

The maneuver would allow the administration to continue negotiating a controversial trade agreement with Malaysia and 10 other Pacific nations. Legislation authored by Sen. Robert Menendez (D-N.J.) effectively bars the U.S. from enacting trade deals with countries deemed "Tier 3" violators of human trafficking standards -- the worst of the worst in the State Department's formal reckoning of governments that facilitate modern-day slavery.

Webmaster's Commentary: 

This is just sick.

But money and deals for your corporate masters trumps every other consideration, don't they, Mr. President?!?

Jul 09 10:04

NYSE, SEC Suspect Software Update Triggered Trading Halt

A computer malfunction that knocked out trading at the New York Stock Exchange for more than three hours Wednesday probably stemmed from a software update that went awry, said two people briefed on a preliminary review.

Webmaster's Commentary: 

Oh yes, we believe the stock market updates its software in the middle of the trading day, rather than overnight when trading is not occurring. Yeah, we believe that. Just as we believe that humans are warming the Earth, Saddam had nuclear weapons, the unemployment rate is just 5.3%, the Lusitania wasn't carrying weapons, etc. etc. etc.

Jul 09 10:00

Suspected hostile short-selling behind sell-off in China markets

A recent sell-off in China's stock markets is the first major challenge facing the country since the introduction of margin trading, and is believed to have been caused by hostile short-sellers.

In a report on the Chinese news site ifeng.com, an analyst said the sell-off was similar to what took place in Hong Kong in 1997, when the territory's benchmark Hang Seng Index plunged 60% after peaking at 16,673 points.

The steep drop in share prices in Hong Kong in 1997 was caused by financier George Soros, who shorted both the Hong Kong dollar and the Hang Seng Index futures, the analyst said, adding that similar practices were observed in the last two trading sessions in China.

Webmaster's Commentary: 

So, it was an attack with a weaponized stock market!

Jul 09 09:47

Jeb Bush: People Need To Work Longer Hours

Jul 09 09:20

FLASHBACK MARCH - Stock market rigging is no longer a ‘conspiracy theory’

The stock market is rigged.

When I started making that claim years ago — and provided solid evidence — people scoffed. Some called it a conspiracy theory, tinfoil hats and that sort of stuff. Most people just ignored me.

But that’s not happening anymore. The dirty secret is out.

Webmaster's Commentary: 

Jul 09 09:18

UK Conservative budget heralds ever deeper austerity

Conservative Chancellor George Osborne unveiled his second budget in four months yesterday.

March’s budget took place under conditions of a Conservative-Liberal Democrat coalition. Wednesday’s announcement was the first opportunity after May’s General Election for the government to bring forward the first wholly Conservative budget since 1996.

Jul 09 08:49

GREECE'D: We Voted 'No' to slavery, but 'Yes' to our chains

We Greeks have voted ‘No’ to slavery – but ‘Yes’ to our chains.

Not surprisingly, by nearly two-to-one, Greeks have overwhelmingly rejected the cruel, economically bonkers “austerity” program required by the European Central Bank in return for an ECB loan to pay Greece’s creditors. In doing so, the Greek people overcame an unprecedented campaign of fear from the Greek and international media, the European Union (EU), and most of our political parties.

What’s simply whack-o is that, while voting “No” to austerity, many Greeks wish to remain shackled to the euro, the very cause of our miseries.

Jul 09 08:41

HUMANITY vs INSANITY - #44 : Greek Tragedy - with William Engdahl

Yanis Varoufakis is being hailed by many as the 'visionary' to bring about an end to 'Austerity' and take Greece out of the Euro ... but what if his true purpose was to bring about the total financial annihilation of the Greek nation?

Jul 09 08:30

Is Alexis Tsipras the Mosaddegh of Our Time?

Like Tsipras, Mosaddegh is famous for a controversial and historic referendum. Mosaddegh’s rule was in turmoil domestically and outside the country, and he knew that the parliament was about to remove him from power soon. That’s why he held a referendum about the dissolution of the parliament, and to give himself temporary power to pass the laws necessary. The referendum was successful with 99% of the votes.

This remains Mosaddegh’s most controversial move to this, which many people including some reformists call undemocratic and unconstitutional. But the truth is that the parliament was handpicked by the Shah, Iran’s dictator, and they were about to overthrow the democratically elected Prime Minister of Iran, and there is nothing undemocratic about turning to people’s votes, and getting a democratic mandate to push your agenda.

Jul 09 08:27

Nigel Farage Destroys EU Group-Think: "There's A New Berlin Wall... And It's Called The Euro"

Today it’s not nearly as controversial to say that the Eurozone experiment has failed. Anyone aware of what’s happening in Greece should say the same. But very few people really understand why.

As Nigel explains in the video below, right from the start, the system was never intended to help the Greek people.

Greece entering the euro was great for Goldman Sachs. But terrible for Greeks. It chained the country to a system in which it didn’t belong.

And what about all the bailout money that’s been thrown at Greece in the time since?

None of it actually went to the Greek people. It went to bail out the French, German, and Italian banks who own Greek debt.

Jul 09 08:25

Is Seattle doing away with single-family homes?

Get rid of single-family zoning in Seattle. That's the big message in a draft report being worked on by Mayor Ed Murray's housing committee, obtained by The Seattle Times.

According to a draft letter, the city needs to move away from the idea that all families can live in their own home on a piece of land, the Times reports.

Webmaster's Commentary: 

Jul 09 08:17

Apple investors see $69B vanish

Shares of the gadget maker closed down $3.12, or 2.5% to $122.57 amid a volatile day on the market – continuing what’s been a brutal period for the stock. Shares have slid nearly 9% from their all-time high of $134.54 set on April 28.

Jul 09 08:14

BRICS Bank Officially Launches As Sun Sets On US Hegemony

The supranational lender imagined by Russia, China, Brazil, India, and South Africa is, like the AIIB, largely a response to the failure of US-dominated multilateral institutions to meet the needs of modernity and offer representation that’s commensurate with the economic clout of their members. As Bloomberg points out, the countries’ combined economic output is now roughly equal to that of the US. “Back in 2007, the U.S. economy was double the BRICS,” Bloomberg notes.

Jul 09 08:13

Caught On Tape: The Other Crisis Happening In Greece

With all eyes firmly focused on pensioners at the gate and ATM lines, there is another - just as cruel and unusual - crisis occurring in Greece. Europe's immigration 'problem' is front-and-center on the island of Lesvos, as KeepTalkingGreece reports, unbelievable scenes as refugees try to raid a food truck. No, this is not Somalia...

Jul 09 08:12

Silver Doctors: Premiums On Physical Silver Skyrocketing....

Tuesday morning we warned that physical shortages and BIG jumps in physical silver premiums were imminent after 90% silver premiums had doubled in the past 48 hours.

Below is an update of the physical precious metals markets over the past 48 hours:

90% premiums skyrocketed over the weekend after the Greek Referendum vote with availability nearly nill- wholesalers/distributors are now offering 90% silver in volume at up to $3 over spot, and supplies are rapidly vanishing

Just before noon Tuesday, the US Mint advised Authorized Primary Dealers it had SOLD OUT of all Silver Eagle coins, and would be taking no further orders until approximately August, at which point it would begin rationing coins to Authorized Dealers.

Jul 09 08:10

US Dollar is Going From Worthless to Imaginary

Here’s where things get sticky:

Regression of the dollar: from representing something of substance and value, to representing a transfer of debt. Last April, I wrote a blog called “US Banking = Selling Marks”. It outlined how our currency went from representing a certain value in gold to nothing more than a transfer of debts.
The rejection of the Federal Reserve Note entirely under certain circumstances as a form of tender. I wrote about how Federal Reserve Notes were no longer acceptable forms of payment – in fact are illegal forms of payment – in Louisiana for certain types of vendors.

Jul 09 07:59

Mackinder Reincarnates–Now Hungary Joins Silk Road

The magnetic force field pulling more EU countries to link up with the emerging Eurasian economic colossus is growing by the day as the economies of the EU sink deeper into debt, depression and economic stagnation. The latest intriguing development is the formal agreement of the Hungarian government to become a part of the routes of the China New Silk Road Economic Belt, a network of high-speed railway lines along the historical medieval silk road across Eurasia to Europe.

Jul 09 07:09

China Soars Most Since 2009 After Government Threatens Short Sellers With Arrest, Global Stocks Surge

Here is a brief sample of some of the measures the Chinese government and the PBOC have unleashed in just the past ten days to prop up the crashing market include:

a ban on major shareholders, corporate executives, directors from selling stock for 6 months
freezing more than half (1400 at last count per Bloomberg) of the listed companies from trading,
blocking fund redemptions, forcing companies to invest in the market,
halting IPOs,
reducing equity transaction fees,
providing daily bailouts to the margin lending authority,
reducing margin requirements,
boosting buybacks
endless propaganda by Beijing Bob.

Jul 09 07:08

JP Morgan to Pay Another Slap on the Wrist Fine for Engaging in Systemic Consumer Credit Card Debt Fraud

Just yesterday, I published a post titled: Florida Man Sentenced to 2.5 Years in Jail for Having Sex on the Beach. The purpose of that post wasn’t to justify his actions, but rather to highlight the difference between how average citizens are treated under the U.S. “justice” system, and how thieving, remorseless financial oligarchs are treated.

While, Mr. Caballero may have ruined the day of a few beach goers by crudely having sex on a public beach in broad daylight, he didn’t run the U.S. economy into the ground and cause destitution to tens of millions of Americans. Nor did he received trillions in taxpayer backstops and bailouts, only to turn around and pay himself a record bonus and then carry on with extremely profitable, illegal financial schemes. No, it was the bank executives who did (and continue to do) all of that. Guess who ends up in prison?

Jul 09 07:05

Greece and Spain face 'make or break' moment as workers stare into jobs abyss

Time is "running out" for a generation of workers in countries such as Greece and Spain whose job prospects may have been permanently damaged by the financial crisis, according to the Organisation for Economic Co-operation and Development.

In a stark warning, the OECD said that, seven years on from the financial crash of 2008, many young people were approaching the "make or break" point where they may no longer be able to "secure a toe-hold" in the labour market.

Jul 09 06:55

10 Very Strange Things That Have Happened In Just The Past Few Weeks

Have you noticed that events have begun to accelerate? Over the past few weeks, things have officially started to get very weird.

Jul 09 06:46

CONSUMERS STILL HAVE THEIR WALLETS SHUT

Jul 09 06:43

Many in US establishment want war with Russia for economic profits: Grossman

International lawyer Barry Grossman says there are people in the United States who are seeking a military conflict with Russia for their own economic profits.

“There are many people in the US establishment who would be ecstatic about a shooting war with Russia since that would send the US economy and their own profits in to overdrive,” he told Press TV on Thursday.

He added that the latest comments made by US Air Force Secretary Deborah James about considering Russia as the “biggest threat” to American national security is an indication of Washington’s addiction to militarism.

Jul 09 06:41

The Latest: IMF: Greece poses little threat to world economy

Olivier Blanchard, director of research at the International Monetary Fund, says Greece's troubles pose little threat to the broader global economy.

Webmaster's Commentary: 

Then why are so many people working so hard to keep Greece in the EU?

Jul 09 06:37

The Budget: '13m Families To Lose Average Of £260'

As many as 13 million families will lose an average of £260 each a year as a result of changes outlined in George Osborne's Budget on Wednesday, the IFS says.

The Institute for Fiscal Studies said that three million families will also lose an average of £1,000 each annually as a result of changes to the benefits system.

Jul 09 06:35

TURKISH STREAM IS NOW “TURKSTREAM,” new route, new pipe-laying company

Putin Meets with Turkish Pres. Erdogan!…
–14 hours ago

Gazprom has terminated the contract with the Italian Saipem …
—4 hours ago

Gazprom Seeks New Contractor to Start Turkish Stream
–3 hours ago

Jul 09 04:58

50% of All Chinese Listings Suspended!

Jul 09 03:55

The really worrying financial crisis is happening in China, not Greece

While all Western eyes remain firmly focused on Greece, a potentially much more significant financial crisis is developing on the other side of world. In some quarters, it’s already being called China’s 1929 – the year of the most infamous stock market crash in history and the start of the economic catastrophe of the Great Depression.

Jul 09 03:36

Greece: The Pearl Cast Before Swine

The Greeks were right to reject paying the debts, for these debts were forced upon them by the giant vampire squid, Goldman Sachs, in words of Matt Taibbi. “The first thing you need to know about Goldman Sachs is that it’s everywhere. The world’s most powerful investment bank is a great vampire squid wrapped around the face of humanity, relentlessly jamming its blood funnel into anything that smells like money”. As we now know, Goldman Sachs (you do not have to be an anti-Semite to hate them) cooked the book,s falsely pretending Greece had a high credit rating though they knew of its huge debts. When the debts snowballed, they pulled the rug and collapsed Greece’s rating, bailing out banks at the expense of the European taxpayer.

Jul 09 02:47

Favoring corporate interests above all else, European Parliament backs TTIP

Members of European Parliament (MEPs) on Wednesday passed a resolution on the pending trade deal between Europe and the United States, backing a controversial provision that critics warn places corporate profits above the health and safety of the people and puts the continent's fragile democracy at great risk.

Despite clear disagreement within European Parliament (EP) over the inclusion of a modified version of the Investor State Dispute Settlement (ISDS) provision, MEPs voted 436-241 in favor of a draft text of the Transatlantic Trade and Investment Partnership (TTIP).

Jul 09 01:49

The Financial Attack on Greece: Where Do We Go From Here?

Today’s guiding theory – backed by monetarist junk economics – is that debts of any size can be paid, simply by reducing labor’s wages and living standards, plus by selling off a nation’s public domain – its land, oil and gas reserves, minerals and water distribution, roads and transport systems, power plants and sewage systems, and public infrastructure of all forms.

Jul 08 20:47

15-minute video: OBVIOUS solutions to upside down economics

*hyperlinks/video live at source*

Mark Anielski and Ellen Brown’s powerful 15-minute response to an interview at the Seizing an Alternative conference (and here, with videos here) with former World Bank economist Herman Daly and co-author John B. Cobb of For the Common Good on our economic condition:
https://youtu.be/jCiHFLKQehk?t=1h4m44s

Mark and Ellen emphasize shifting what we use for money today (created as debt) to maximize public benefits with monetary and credit reform.

Explanation and documentation:

The section of my conference paper on monetary and credit reform.
My assignment for high school economics students on monetary and credit reform, with history beginning with Benjamin Franklin’s documentation that these reforms allowed colonial Pennsylvania to operate without taxes.
Article with four videos: Upside down economics of debt, poverty, unemployment: Ready to seize solutions, or need more pain?

**

Jul 08 20:46

Government strengthens residential tenancy laws

• All rental properties must be insulated by July 2019, though exemptions apply to properties where it is physically impractical to retrofit insulation.
• Smoke alarms must be installed in all rentals from July 2016, but tenants will be responsible for replacing batteries and notifying landlords of defects.
• New powers to prosecute landlords for breaking tenancy regulations, particularly where there is risk to tenants' health and safety.
• The changes also ensure tenants can take concerns to the Tenancy Tribunal without fear of retaliatory evictions.

Every rental property in New Zealand will have to be insulated within four years, Government has confirmed.

Housing Minister Nick Smith announced plans this morning to strengthen residential tenancy laws, including requirements for landlords to provide smoke alarms and insulation, and to declare the standard of insulation on tenancy agreements.

Jul 08 20:42

Council initiative allows couple to live off rainwater

An Auckland couple have been able to live off recycled rainwater, thanks to an Auckland Council initiative that has let them borrow up to $5000 for a pair of extra water tanks.

Richard Butterworth and Adele Robinson were reluctant to use the town water supply at their home in the Whangaparoa Peninsula but found during the drier summer months their single water tank would often run dry.

"We were thrifty with water, but there are only so many times you can go without having a shower," said Ms Robinson.

So the couple, who run their own ceramic art business Borrowed Earth, applied to borrow the money as part of the Auckland Council's Retrofit Your Home initiative.

This enabled them to install two extra tanks, one to supply the house with water, the other for the garden.

Ms Robinson said it would take an extreme circumstance for them to run out of water now.

Jul 08 19:06

What In The World Just Happened To The New York Stock Exchange?

Do you believe that the New York Stock Exchange shut down because of a “technical glitch” on Wednesday? At 11:32 AM on Wednesday morning, trading on the New York Stock Exchange was halted due to “internal technical issues”, and it did not resume until 3:10 PM.

Jul 08 18:48

SHANGHAI PLUNGING – LOOK OUT BELOW

I love those fantasy stories about central bankers being all-powerful and able to levitate stock markets forever. They make me all warm and fuzzy. In case you hadn’t noticed, the Chinese central bankers and communist party politicians have been desperately trying to stop their stock market from crashing. EPIC FAIL!!!

It plunged another 5% overnight. They have halted trading on 40% of their stocks and it keeps falling. They ban short selling and it continues to fall. They ban the press from talking negatively about the stock market and it keeps falling. They instruct their government agencies to buy stocks and it continues to fall. The omnipotence of central bankers is being proven to be a fraud.

Jul 08 18:19

Seattle Proposing Tax On Gun & Ammunition Sales

Jul 08 16:00

Anti-Austerity Action in The City of London

In the following exclusive video report, we get to see anti-austerity action reaching the belly of the beast in the heart of The City of London.

Activists have managed to get inside of a building and get anti-austerity messages prominently displayed in one of the wealthiest areas of the British capital.

Numerous people have been reported to have committed suicide as a result of the austerity cuts that have taken place in the UK. Meanwhile, others have been killed as an indirect result of the cuts.

Greece just voted to reject austerity measures that would have been forced upon the country by foreign creditors. Let us hope they can begin to turn things around…

Jul 08 15:22

Physical Silver Shortage EXPLODES! “We Are Looking at the Potential of 2008 Style PM Premiums”

Tuesday morning we warned that physical shortages and BIG jumps in physical silver premiums were imminent after 90% silver premiums had doubled in the past 48 hours.

Below is an update of the physical precious metals markets over the past 48 hours:

90% premiums skyrocketed over the weekend after the Greek Referendum vote with availability nearly nill- wholesalers/distributors are now offering 90% silver in volume at up to $3 over spot, and supplies are rapidly vanishing

Jul 08 15:15

Faber: “Wake Up, People of the World! Greece Will Come to You …Very Soon”

“Wake up, people of the world and investors! Greece will come to your neighbourhood very soon, maybe not this year but next year or whenever…because the world is over-indebted and defaults will follow or they’ll have to create very high inflation rates”.

Jul 08 15:09

Homelessness and empty stores becoming the new normal in NYC

If you’ve been out and about in Manhattan over the past six weeks and you have eyes and ears, you know something’s happening — something worrisome.

Jul 08 15:05

And Now for a Putsch in Athens? Yes, if Neocon Schemers Have Their Way

A putsch in Athens to save allied Greece from enemy Russia is in preparation by the US and Germany, with backing from the non-taxpayers of Greece – the Greek oligarchs, Anglo-Greek shipowners, and the Greek Church. At the highest and lowest level of Greek government, and from Thessaloniki to Milvorni, all Greeks understand what is happening. Yesterday they voted overwhelmingly to resist. According to a high political figure in Athens, a 40-year veteran, “what is actually happening is a slow process of regime change.”

Jul 08 14:30

Michelle O unveils $600,000 changes to White House dining room

Michelle Obama unveiled her ‘modest’ remodel of the White House State Dining Room on Tuesday.

Jul 08 14:16

EU's Tusk Urges Tsipras to 'Seek Help Among Friends, Not Enemies'

Donald Tusk urged Greek Prime Minister Alexis Tsipras to turn to friends for help but the president of the European Council did not specify who those were.

It is clear who Tusk is referring to. He is attempting to dissuade Greece from entertaining any notions of partnership with Russia. In reality, Greece has no friends among the majority of the European Parliament and Commission, who are in the case of the former are little more than serial gravy-train passengers. In the case of the latter, they are unelected politburo-style bureaucrats and banksters' puppets. On the other hand, Greece has long-standing cultural ties with Russia.

Jul 08 14:14

Be Afraid: Obama Enters Greek Financial Crisis

Jul 08 13:25

Planned US Coup in Greece?

Washington’s geopolitical strategy when bullying fails is either assassinating independent leaders, color revolutions, military coups or naked aggression.

If Moscow-based independent investigative journalist John Helmer is right, Greek Prime Minister Alexis Tsipras is a marked man and SYRIZA governance on thin ice showing cracks.

Jul 08 13:18

Tsipras Slams Austerity at EU as Greece Requests New Bailout

Greek Prime Minister Alexis Tsipras called for the eurozone to reach a deal with sustainable solutions to the Greek crisis in a speech at the European Parliament Wednesday, saying the “austerity laboratory” that Greece has become has been a failure for the country’s people.

“The simple fact is that we have to face and accept that the majority of the Greek people feels that they have no other choice other than to demand that they be given a way out of this impasse and this dead end," said Tsipras, adding that poverty and public debt have soared with the austerity “experiment” imposed on Greece.

Jul 08 13:04

Inside 'billionaire summer camp': Tycoon Elon Musk brings wife he's already divorced twice while recently widowed Sheryl Sandberg is accompanied by a friend

The annual summer camp for billionaires kicked off in Sun Valley, Idaho on Tuesday - and attendees were up early for breakfast Wednesday morning.

Elon Musk, 43-year-old CEO of Tesla, led the swarm of moguls, arriving hand-in-hand with his wife, British actress Talulah Riley, 29, after tearing up their second set of divorce papers earlier this year.

Sheryl Sandberg, Facebook COO, arrived with a female friend, two months after the death of her husband, SurveyMonkey CEO David Goldberg. Last year they attended the conference together.

This year's appearance, wearing a ring on a chain around her neck, comes a day after Sandberg announced she is taking a seat on the board of SurveyMonkey to 'realize' Goldberg's vision.

Others spotted on the walk were Rupert Murdoch and one of his heirs Lachlan and Disney's beloved CEO Bob Iger and his wife Willow Bay. James Murdoch arrived separately with his wife.

Jul 08 12:04

Systemic "Holidays" Are Coming to Banks, Money Market Accounts and More in the Weeks Ahead

This morning both the NYSE broke (canceling all open orders) and China outlawed selling stocks for large investors.

These two items seem completely unrelated… however, the reality is they are both based on a theme we outlined back in May 2015.

Jul 08 11:42

Prepare for Economic Collapse: Oath Keepers Calls for Emergency Summits

While speaking recently at the First Annual Oath Keepers Awards Banquet in New York, Founder and Director of Oath Keepers Stewart Rhodes issued an urgent directive to all Oath Keeper chapters across the country to hold an Emergency Summit by state in order to prepare for an economic collapse.

(read more)

Jul 08 11:39

The Globalists Are Racing to World War III Before the American Sheeple Wake Up

f you think the globalists are pushing pedal to the metal now, you’re absolutely right! Rapid acceleration toward their one world government has humanity on a fateful collision course to Armageddon. Just look at the unfolding events in 2015 so far with barely half the year over. The Charlie Hebdo attack in January came right after France moved to recognize a sovereign Palestinian state. Clearly Hebdo was a false flag payback that only escalated movement toward more Orwellian tyranny and draconian police state oppression, not only in France but around the world.

Jul 08 11:35

Throughout history, debt and war have been constant partners

There is this idea that the Greeks got themselves into this current mess because they paid themselves too much for doing too little. Well, maybe. But it’s not the complete picture. For the Greeks also got themselves into debt for the oldest reason in the book – one might even argue, for the very reason that public debt itself was first invented – to raise and support an army. The state’s need for quick money to raise an army is how industrial-scale money lending comes into business (in the face of the church’s historic opposition to usury). Indeed, in the west, one might even stretch to say that large-scale public debt began as a way to finance military intervention in the Middle East – ie the crusades. And just as rescuing Jerusalem from the Turks was the justification for massive military spending in the middle ages, so the fear of Turkey has been the reason given for recent Greek spending.

Jul 08 11:34

Planned US Coup in Greece?

Wherever neocon Assistant Secretary of State for European and Eurasian Affairs Victoria Nuland shows up (Hillary Clinton’s handpicked choice for the job), trouble usually follows.

Helmer says she’s “in charge of warmaking in Europe.” Her notorious involvement in Ukraine’s February 2014 coup is well documented.

According to Helmer, she gave Tsipras two ultimatums in Athens last March – surrender to Troika demands and remain allied with US-dominated NATO’s anti Russian agenda.”

Her spokeman Mark Toner said Washington is “focused on, frankly, the opposite (of Sunday’s referendum), which is finding a path forward that allows Greece to continue to make reforms (more austerity), return to growth (by letting Troika bandits rape its economy and population), and remain in the Eurozone.”

Jul 08 11:17

Tsipras to EU: Greece's Days as 'Laboratory for Austerity' Are Over

In a speech before European Parliament, Greek Prime Minister says, 'We want an agreement that will give a final end to the crisis and show there is light at the end of the tunnel.'

Jul 08 11:16

Gold Default COMEX Almost....

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