JUN 17 SIT EC y POL
ZERO HEDGE
You've
Been Warned: Calls For Mandatory "National Service" For Americans
Aged 18-28 Have Begun. Submitted by Tyler
Durden on 06/17/2015
The statists are coming for your kids, and the
conditioning has already begun...
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Greek
Debt Committee Just Declared All Debt To The Troika "Illegal,
Illegitimate, And Odious". Submitted by Tyler
Durden on 06/17/2015
"Greece not only does not have the ability to pay
this debt, but also should not pay this debt first and foremost because the
debt emerging from the Troika’s
arrangements is a direct infringement on the fundamental human rights of the
residents of Greece. Hence, we came to the conclusion that Greece should not
pay this debt because it is illegal, illegitimate, and odious."
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Texas
Gold Repatriation Bill Has One Message To Feds: "Come And Take It".
Submitted by Tyler Durden on 06/17/2015
"If the federal government were to try and do
something like [confiscation], the reality is: There is a motto in the office
of almost every state legislator in Texas, and it’s a flag that we have [from
the Texas Revolution], it’s below a cannon and what the motto says is, 'Come
and Take it.'"
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Foreign
Policy Coup: De-Americanization of World's Conflicts. Submitted by Tyler
Durden on 06/17/2015
Somehow, in the stupor of false patriotic pride,
Americans are unwilling to accept that their enemy is not scattered around the
seven seas, as they are being told, but has pitched its bivouac tent
right here at home; government and most endearing American institutions having
been hijacked by a ruling elite that have placed Washington under their thumb. For
self-preservation, America’s ruling elite might consider optimizing its
position, not just domestically but internationally, by accepting conviviality
as its foreign coup. A farfetched proposition...? Of course; but
world peace can benefit us all.
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Financial
Predators And Parasites Want To Live, Regardless Of The Cost. Submitted
by Tyler Durden on 06/17/2015
Reform is impossible in a system optimized for
centralized power and financial predators and parasites. The predators and
parasites will gorge themselves until the system collapses.
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The
Fed’s Fatal Flaw: Gold And The Predictable Endgame. Submitted by Tyler
Durden on 06/17/2015
When and what will break the chains on gold by those
seemingly omnipotent forces that so assuredly keep its price in check?
In essence, the belief is (and I expect for most honest and impartial analysts
this is true) that because there is potentially significant downside risk to a
global monetary system built upon a currency to which gold represents the
proverbial kryptonite (we’ll discuss why), there are checks in place within the
system, to ensure that kryptonite doesn’t become too potent. The architects
of the existing system would have been foolish not to implement checks on gold.
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"Goldbug"
Analysts Capitulation. Submitted by Tyler
Durden on 06/17/2015
The gold market has been in a profound lethargy (at least
in dollar terms) for over a year. This is as frustrating for the bulls as
it is for the bears. These days we are witnessing an avalanche of bearish
commentaries on the price of gold for the coming 6 to 12 months. The
psychological $1,000 threshold is attracting analysts like a magnet attracts
iron dust... They can’t continue to fight this market, because they’ve lost
all their credibility, some capital, and are about to lose all of their
clients! They capitulate... this is the kind of sign that is expected before
a definitive trend reversal.
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America,
You're Fired!. Submitted by Tyler
Durden on 06/17/2015
They call it "voting," and we're told it's our
civic duty. But it's just an illusion. Just like in Caesar’s time, the
election will go to the people who spend the most money. But we're not talking
about the candidates. They're just puppets. Entertainers. We're talking
about the people who bankroll them.
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PetroYuan
Proliferation: Russia, China To Settle "Holy Grail" Pipeline Sales In
Renminbi. Submitted by Tyler
Durden on 06/17/2015
Two critically important themes which have far-reaching
geopolitical and economic consequences came together recently when it became
apparent that Gazprom had begun settling all crude sales to China in yuan. This
marked the intersection of yuan hegemony and the death of petrodollar
mercantilism. Now, the trend continues as Russia and China will de-dollarize
hundreds of millions in natural gas settlements.
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Did
Yellen Just Throw Greenspan/Bernanke Under The Bubble-Blowing Bus?. Submitted
by Tyler Durden on 06/17/2015
Reflecting on the
rate hikes undertaken in the 2004-2006 period (ensuring the world not think
that The Fed would repeat that) Janet Yellen appears to have thrown
Greenspan and Bernanke under the bubble-blowing bus with an off the cuff
comment that "with hindsight, The Fed should have hiked rates
faster," during that period... which is odd since we assumed it
was The Fed's job to inflate financial assets to prove the real economy was
doing great?
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"Lift-Off"
Lies And The Fed's Reputational Risk/ Submitted by Tyler Durden on 06/17/2015
Every Fed watcher’s
favorite word these days is “lift-off”. As if the Fed’s first rate increase,
whenever that comes to pass, is the ignition of some giant Saturn V rocket that
will inexorably carry interest rates up, up, and away. Please. This is
Narrative creation … really, Narrative abuse … of the first order. The next
time you read or hear someone use the word “lift-off”, I’m begging you to
remember Jim Mora’s
classic press conference when he was asked about the Colts’ chances of making
the play-offs, because it’s a dead ringer for what Janet Yellen is saying
in her heart of hearts.
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Silicon
Valley's Fantastic "Dry Bubble". Submitted by Tyler Durden on 06/17/2015
With 75% of invested
capital trapped in private Unicorns, that’s pretty dry. So for now at least
— it’s a roach motel. All this money is going in at higher, all time higher,
valuations — but very little is coming back out. The optimists believe it’s
just a matter of time... Bill Gurley thinks there is a dry bubble.
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Why
Greece Matters (To Even The Most Small-Minded US Equity Manager). Submitted by Tyler
Durden on 06/17/2015
The Greece saga continues. This is a story that does not deserve to be derided by whines of “I’m
sick of reading about Greece” and “If it weren’t for Greece”, blah, blah, blah.
The next B level economic number that HFT traders can jump on is not more
interesting nor important. This is a Western democracy, member of NATO
and the euro zone in the throes of social and economic revolution. Their
problems go to the very heart of EU problem... Today is the Fed’s day,
but don’t dismiss this story for small mindedness.
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Excluding
All That Is Bad, Things Are Good.Submitted
by Tyler Durden on 06/17/2015 [Nice sarcasm]
"...excluding
Energy and rate sensitive sectors such as Telecom and Utilities, which have
been bringing down the average, most sectors continue to show very strong
breadth. In particular, Healthcare, Consumer Discretionary and Financial
stocks continue to show very strong uptrends."
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The Obese States Of America, And How To Profit From It. Submitted by Tyler Durden on 06/17/2015
As Americans continue to gain weight, heart attacks and
emergency room visits should increase, doughnut consumption will rise, gyms
will close, and healthy food stores will be stuck with inventory they cannot
sell. But on Wall Street, greed is good. So if someone is going to have a
heart attack, there's nothing wrong with making a few bucks from it right?
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Some
Troubling Numbers From The CBO. Submitted by Tyler
Durden on 06/17/2015
In its latest long-term budget outlook, the Congressional
Budget Office CBO
has some troubling numbers. According to the CBO if the US wants to return
back to its long-term debt/GDP average of 38% of GDP, it needs to boost
revenues by 14% or slash spending by 13%. Alternatively, if it wants to keep
debt/GDP at its current level of 74% of GDP, the US will need to boost revenues
by 6% of cut spending by 5.5%.
…
According to the
CBO, "mainly because of the aging of the population and rising health care
costs, CBO's projections show a substantial imbalance in the federal budget
over the long term, with revenues falling well short of spending. As a result,
budget deficits are projected to rise steadily and federal debt held by the
public is projected to exceed 100 percent of GDP by 2040, a level seen only one
previous time in US history - the final year of World War II and the following
year."
There's that
World War II reference again.
READ full
art at: http://www.zerohedge.com/news/2015-06-17/some-troubling-numbers-cbo
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Submitted by Tyler
Durden on 06/17/2015 - 07:28
- Greek central bank issues 'Grexit' warning if aid talks fail (Reuters)
- Kerry says 'patience wearing thin' on Syria's Assad (Reuters)
- Juncker accuses Athens of misleading Greek people (FT)
- Al Qaeda kills two Saudis accused of spying for America (Reuters)
- Hedge-Fund Bet Hits Pensions (WSJ)
- ‘Flash Crash’ Trader Navinder Sarao Worked With Fund Network Now Under Investigation (WSJ)
- 'Me? Rich?' U.S. presidential hopefuls play middle-class card (Reuters)
- You’ve Been Warned: Central Bankers Turning Less Market-Friendly (BBG)
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Futures
Rebound As Yellen's Market-Lifting Track Record Offsets Greek GloomSubmitted by Tyler
Durden on 06/17/2015
With the Fed's June
FOMC statement in just over 7 hours and a Yellen press conference to follow
shortly, one in which nobody expects the Fed will announces its first
rate-hiking cycle in nine years despite repeated clues by Yellen that not only
is there froth in the market but that the Fed has no dry powder to contain the next
crisis when it emerges (even though a rate hike will catalyze the next crisis),
traders have chosen to ignore the chatter from Greece which is getting worse by
the hour, and unlike recent days, have bought risk overnight based on one
simple technical: of the five press conferences in ten Fed meetings held
by Yellen as Chairman, the S&P finished higher 80% of the time.
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Is
Telling Lies A Democratic Right?
Submitted by Tyler Durden on 06/17/2015
Syriza has stuck to what it said all along: negotiations are possible, but not about
everything. Not about making a desperate people even more desperate. Not only
is that useless and harmful to all parties involved in the talks, it’s also
immoral. Granted, ‘immoral’ may be considered a subjective view too. Then
again, it shouldn’t be. But let’s get real: What does any of this have to
do with democracy anymore? And, more importantly, where does it leave the
democratic rights of the Greek people? Do they need to be fed lies too to
participate in this game?
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TRNN INTERVIEW MICHAEL HUDSON ON QUANTITATIVE
EASING & DEBT DEFLATION
EXTRACT:
Jessica: Welcome to The Real News Network. I’m Jessica
Desvarieux in Baltimore. Thank you, Michael, for joining us. So Michael, Now
that the federal government though is talking about ending quantitative easing,
also known as QE, who would be the winners and losers of this policy ending?
Michael Hudson. The
Federal Reserve created $4 trillion worth of credit electronically on its
computers when the economy was in trouble in 2008. It could have used this $4
trillion to write down the debts. It could have used it to spend into the
economy and create sort of a recovery. But instead it gave all the money to the
banks, and its claim was that if you give $4 trillion to the bank reserves this
is going to help the economy, because the bank is going to lend more money to
the economy and drive it in, $4 trillion deeper into
debt.
…
What happened when they did the quantitative easing. When they did it, it drove interest rates down to, as I said,
to a fraction of a percent, what did the banks do
with the money? They didn’t lend to industry to hire, they lent to
industry to essentially arbitrage. They lent to corporate raiders to buy out
industrial corporations, and they, most of all, they lent to companies to buy
back their own stock.
So in the last year
alone, Standard & Poor’s and other agencies … the winners are going to be
the corporations .. that are going to spend over a trillion dollars in buying
back their own stock. Because they can borrow so cheaply, why not buy back
their own stock with interest rates so low. So this trillion dollars is not
going to be invested in new goods and services and production. It’s not going
to be invested in hiring labor. So who will be the winners?
[LOSERS?] …
Well first of all, the pension funds have been complaining that interest
rates are so low that they haven’t been able to make enough money in their
funds to be assured to pay the pensions that are falling due. The cities and
states, California, New Jersey now, Illinois, are all saying wait a minute,
we’re so far behind in our pensions because we haven’t been able to make the
money, that we need higher interest rates in order to make enough money to pay
the pensions. And the insurance companies have said, well, look, we need higher
interest rates to solve the problem that we’re making so little money securely
that we promised to pay all these annuities, and we may go broke.
So in principle the
whole idea is to help the pension funds,
insurance companies and retirees make enough money to live on. That’s the
promise. But it’s a false promise. It’s just
really the cover story.
[ Regarding losers and winners] So look at who the
losers will be if the Federal Reserve stops quantitative easing. Well for one
thing, if they raise interest rates here–and when they say stopping
quantitative easing, Janet Yellen really means let’s raise interest rates and
get them high again, as if that’s going to help the economy. Well the first thing is -if the United States raises interest rates- that’s going to push the dollar way up against
the Euro, and most of all against third world and Asian countries. This
means that countries that owe foreign debt, that’s
almost all denominated in dollars, especially to the International Monetary
Fund or the World Bank, they’re going to have to pay much more money in
higher-priced dollars for their own currency. So this is going to aggravate debt deflation and defaults in third world
countries.
Secondly, all of a sudden when they raise the
interest rates, all this arbitrage that’s been occurring to bid up the stock
market, to bid up the bond market and to bid up real estate markets is going to
be reversed. Because if interest rates rise, banks are
not going to lend as much money to buy stocks and they’re not going to make as
much money to lend real estate.
[My comment: The US is not
going to be the winner is this situation –more QEs +raising interest rates- happens.
Besides the above, exporting US products to world market with a strong dollar
will make our products less competitive
.. we are going to be the losers at political & economic level if we raise
interest rates .. simply, third world
countries won’t pay high interest rates .. they will exit the dollar-market ..
we gona have a huge Greek situation]
FOR MORE NEWS FROM TRNN: http://therealnews.com/t2/latest-news
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INFORMATION CLEARING HOUSE
Syria: a
Serious Situation for Us All. By Roya Arab. I really wonder are human lives, cultures and histories that can be
violated, dismantled and erased intentionally in so many places around the
globe without it reverberating?
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Nuke Russia?. The
Warlords of Washington Haven’t Ruled It Out By Justin Raimondo
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U.S. Terrorism
List a Lesson in Hypocrisy. By DeWayne Wickham. If Cuba had its own list, America would take top spot.
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Starvation Is
The Price Greeks Will Pay For Remaining In The EU. By Paul Craig Roberts
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Let Me Be
Clear – Edward Snowden Is A Hero. By Shami Chakrabarti. The government, claiming Snowden has ‘blood
on his hands’, is using scare tactics to shut down debate.
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Making the
Rich Richer Is Not Good For Growth, Says International Monetary Fund. By
Oxfam. By releasing this report, the IMF has shown that ‘trickle down’
economics is dead
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Prisons
Without Walls. We’re All Inmates in the American Police State. By
John W. Whitehead. Take the warning signs seriously. And take action
because the paths to destruction are well disguised by those in control. This
is the lesson of history.
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GLOBAL RESEARCH
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Monsanto’s herbicide. Endgame
for Glyphosate? The Global Fallout of WHO’s ‘Probable Carcinogen’
Classification By Dr. Eva
Sirinathsinghji.
WHO: World Health Organisation’s classification of glyphosate as a ‘probable
carcinogen’ (see [1] Glyphosate ‘Probably Carcinogenic to Humans’ Latest WHO
Assessment, SiS 66) will be the final nail in the coffin
for the world’s most popular herbicide and Monsanto’s flagship product.
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Russians
and Chinese “cracked” the Encrypted Files? Sunday Times Reporter Pleads
Ignorance By Global Research News,
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NEWS IN SPANISH
"Posneoliberalismo no implica
poscapitalismo”. Mateo Aguado/Carlos Benítez Trinidad. Entrevista a Alberto
Acosta, economista y político
[ El anti-neoliberalism –entendido como NO al saqueo
financiero del capital buitre –or vulture capital- y de grandes corporaciones
que especulan con la deuda pública de países emergentes y NO al uso de
derivatives and hedge funds para el mismo propósito. Se trata de un NO a los trucos
financieros que derivaron de la Libertad al capital financiero imperial para
operar en los mercados del mundo –según lo acordado en el Washington Consensus
de 1985 y auspiciado por M- Tatcher y Reagan, luego de la experiencia neo-nazi
de Pinochet en Chile por los Chicago boys .. La condena y respuesta a ese
liberalismo tuvo sus antecedentes en el proyecto Glass-Steagall ACT de 1936
implementado en el US por Franklin
Delano Roosevelt -FDR- para frenar los
efectos que el liberalismo provoco a nivel mundial con la 1ra recesión mundial
que se inició en 1929. El capitalismo quedo intacto –se protegió al capital productivo y eso dio 40 años de prosperidad
económica al imperio. Con Nixon se
empezó a desmontar el proyecto y finalmente fue Clinton quien oficializo el
saqueo financiero mundial del nuevo capital especulativo, es decir, se decretó la muerte del proyecto FDR y la apertura
oficial de la nueva recesión mundial, recesión
hoy en proceso y de lo que la crisis del 2008 fue solo un anticipo. Otro
anticipo post-neoliberal y quasi socialista fue la experiencia NO CAPITALISMO NI
SOCIALISM STALINIANO que implemento Tito en Yugoslavia y Velasco en Perú. Estos
fueron el prototipo de lo que hoy se conoce como SOES (State Own Enterprises)
en Rusia y China. En este modelo, el capitalismo (el capital privado y el
Estado como gestor e inversor directo en
economía) y el Socialismo (protección al capital productivo y del labor)
caminan de la mano sin ser ni lo uno ni lo otro, ni capitalismo ni socialismo,
solo anti-neo-liberales como lo sonio FDR. Si hay por tanto formula
post-neo-liberal que es también post-capitalista y esto no es solo realidad en Rusia y China, también
lo es en algunos paises escandinavos de Europa. A esto apuntan varios de los
teóricos, gestores y policy-makers del BRICS ]
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Europa. El futuro de Europa se juega en
Grecia. Entre el corralito y el impago desde
abajo. Pablo
Elorduy.
[ Estamos ya en la finales del partido. Los griegos tienen
control de su Banco .. solo falta financiarlos.. la voz y voto lo tienen los
rusos y chinos .. El GREXIT es ya una
realidad que podrá ser penosa por un instante pero que les abrirá futuro más
alla de la sumisión y esclavismo a los banqueros de la troika. Cualquier
represión económica a Rusia y China por la troika va a ser respondida por
varios paises de Europa que están dispuestos a desmontar la Union Europea y ya
.. Los alemanes no tienen nada que perder si esto ocurre .. quizá solo la
risita giocondina de donia Merkel.. el
marco alemán regresaría a la escena y una posible alianza anti-NATO les abriría el camino hacia un nuevo ciclo de
prosperidad económica dentro del proyecto euro-asiatico que lidera China ]
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Economía. Entrevista a Maria Lúcia
Fattorelli, miembro del Comité de Auditoría de la Deuda Griega. "La deuda pública es un megasistema de
corrupción institucionalizado". Por Renán
Truffi
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América Latina y Caribe. El uso de un acuífero para hacer Coca-Cola
amenaza el agua de 30.000 personas en El Salvador. Maribel Hernández
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Carta
abierta a los gobiernos de la UE-CELAC. "Declaramos nuestro profundo rechazo a las
políticas neoliberales y de austeridad"
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II
Cumbre CELAC-UE. El Proyecto de Bolívar, el Plan Patria, firme
contra la tesis de Monroe. Del Rosario Ignacio Denis
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RT,
SUPUTNIK y RECENT SHOWS
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Going
Underground. Jeremy
Corbyn on Labour Leadership, Save the Children on Yemen and Magna Carta (E221)
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PRESS TV
US
warplane policy over Russia ‘dangerous’ Wed Jun 17, 2015 The US deployment of advanced warplanes to Europe amid
tensions with Russia is a “dangerous” policy by Washington.
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Iran
to continue supporting Iraq: Rouhani. Wed Jun 17, 2015 Iranian President Hassan Rouhani says the Islamic
Republic will continue to support Iraq in its anti-terror fight.
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West
targeting Iraq unity: Leader. Wed
Jun 17, 2015 Leader of Islamic Revolution Ayatollah Seyyed Ali Khamenei says
the West seeks to undermine the unity of Iraq.
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