JUL 16 SIT EC y POL
ZERO HEDGE
Greece
Is Just The Beginning: The 21st Century 'Enclosures' Have Begun. by
Paul Craig Roberts, Submitted by Tyler
Durden on 07/16/2015
Greece is only the beginning. Greeks driven out of
their country by the collapsed economy, demise of the social welfare system,
and extraordinary rate of unemployment will take their poverty to other EU
countries. Members of the EU are not bound by national boundaries and can
freely emigrate. Closing down the support system in Greece will drive Greeks
into the support systems of other EU countries, which will be closed down in
turn by the One Percent’s privatizations. The 21st century Enclosures
have begun.
….
The austerity agreements serve as a cover for the looting
of the Greek people literally of everything. But when the One Percent is
looting, facts are of no interest. The
austerity, that is the looting, has gone forward despite the fact that the
IMF’s economists cannot justify it.
Greek democracy has proven itself to be impotent.
The last European
leftist party, or what passes as leftist, has been brought to heel, just like
Britain’s Labour Party, the French Socialist Party, and all the rest.
With the death of
these political parties, the people no longer have any voice.
Syriza could not succeed once it failed to nationalize
the Greek banks in response to the EU’s determination to make them fail. The Greek One Percent have the banks and the
media, and the Greek military shows no sign of standing with the people. What
we see here is the impossibility of peaceful change, as Karl Marx and Lenin
explained.
Revolutions and
fundamental reforms are frustrated or overturned by the One Percent who are
left alive. Today with the left so totally defeated, the One Percent does not
have to agree to reforms. Compliance with their power is the only alternative.
Greece is only the beginning.
Closing down the
support system in Greece will drive Greeks into the support systems of other EU
countries, which will be closed down in turn by the One Percent’s
privatizations. The 21st century Enclosures have begun.
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Law
Firm Stops Hiring Ivy League Grads, Demands "Gritty Street Lawyers". S- by Tyler
Durden on 07/16/15
Having taken on
hundreds of thousands of dollars worth of loans to achieve the ultimate goal of
becoming an Ivy League law graduate, it appears, in at least one case, that
your abilities are not required.
As WSJ reports, Adam Leitman Bailey, a Manhattan attorney who runs a
real estate firm, says he looks to hire law school graduates who have grit,
ambition and a resolve to succeed in the legal profession. For that reason, he
says, his firm has instituted a rule: If your resume lists your law
school as Yale, Harvard, Columbia, Cornell or University of Pennsylvania, you
need not apply because you won’t get the job.
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How
Likely Is Hyperinflation In The U.S?. Submitted by Tyler Durden on 07/16/2015
Hyperinflation in the U.S. is coming sometime in the next
20 years or so, and this isn't a cry from a Chicken Little, but a conclusion
that the analysis strongly suggests. It is possible hyperinflation could happen during the next few years, but
that seems unlikely since it would require a series of major crises and
political blunders – events unprecedented in the history of the United States.
If this led to a corruption of Constitutional rights in the midst of an
exaltation of the Executive Branch that resulted in loss of the rule of law,
hyperinflation might result. It is much more probable that hyperinflation will
be preceded by a long slow decline that will include a protracted period of
high inflation, and that the crash of the dollar and hyperinflation will be
the final tumble off a looming, steep cliff.
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Fearing
Greek Fallout, ECB Extends "Secret" Credit Lines To Balkans. S- by Tyler
Durden on 07/16/2015
"The European
Central Bank has introduced secret credit lines to Bulgaria and Romania as part
of a broader effort to convince foreign regulators not to pull the plug on the
local subsidiaries of Greek banks," FT reports.
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Icahn
Vs. Fink: Wall Street Legends Clash Over "Dangerous" ETFs. S by Tyler
Durden on 07/16/2015
On Wednesday, Carl
Icahn and Larry Fink engaged in an epic debate about the role ETFs play in
perpetuating systemic risk. Icahn, taking a page from the Tyler Durden
playbook, talks phantom liquidity before calling BlackRock "a dangerous
company", and opining that Fink and Janet Yellen are "pushing the
damn thing off a cliff."
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Greece
And The Worst Possible Way To Correct Trade/Productivity Imbalances. S- by Tyler
Durden on 07/16/2015
Piling on more debt is the worst possible way to correct structural trade and productivity
imbalances, yet that is the Eurozone's "solution" to Greece's debt/
trade/ productivity/ corruption crisis.
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Why
A Third Greek Bailout Is A Bad Idea. Submitted by Tyler Durden on 07/16/2015
Last Sunday, Eurozone countries submitted yet another ultimatum
to Greece: implement a whole round
of reforms, from eliminating early retirement over scrapping exemptions from
sales tax to opening shops on Sunday, and we’ll start negotiations on providing
a new bailout of possibly €86bn from the European Stability Mechanism (ESM),
the Eurozone’s bailout scheme, which will carry yet another series of strings
attached. As Finland’s Foreign Minister Timo Soini said this week about the
idea of a third Greek bailout round: “the Finnish public can’t understand
that this is allowed to continue”. Can anyone else?
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Debt
Is The Barbarous Relic! Not Gold.
Submitted by Tyler Durden on 07/16/2015
Owning gold is
saving, which by definition is civilized, i.e. NOT barbarous. Debt, on
the other hand, is the exact opposite. It is a lack of savings that shows a
complete disregard for the future. It is the modern
equivalent of gorging on some wild beast with no thought to tomorrow’s meal… or
in this case, no thought of tomorrow’s generation. Debt is the barbarous
relic. Not gold. And governments are up to their eyeballs in it, continuing
to engage in this primitive, uncivilized behavior with wanton abandon.
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Here
Comes The Oil Glut: First Iranian Oil Tanker Sets Sail. Submitted by Tyler
Durden on 07/16/2015
Amid what is being
reported as worrying
discrepancies between the U.S. and Iranian interpretations of what
had been agreed, an
Iranian supertanker with 2 million barrels of oil is on its way to Asia
after sitting in Iranian waters for months, likely to be the first vessel
holding floating excess stocks to sail after the nuclear deal.
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Greek
Banks To Reopen On Monday, But Do Greeks Have Any Faith Left In Their Banks?.
Submitted by Tyler
Durden on 07/16/2015
It was less than
three weeks ago that, in the aftermath of the surprising announcement of the
Greek referendum and the even more surprising cap on the ECB's now clearly
conditional ELA, the world was greeted to massive lines of Greeks waiting at
ATMs where they were allowed to withdraw only €60 per day. Following the Greek
capitulation, whose sole directive was recovering access to locked up bank
funds, hopes were that Greek banks would promptly reopen, and now, according to
a Greek senior banker cited by Reuters we know just when that will happen: Monday.
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Philly
Fed "Bounce" Plunges To 2015 Lows, Employment Tumbles. S- by Tyler
Durden on 07/16/2015
After June's
hope-strewn dead-cat-bounce, Philly Fed has plunged back to the lows of the
year. Printing 5.7, missing expectations of 12.0, this is the biggest miss
since January. It appears the weakness in Q1 (and Q2) and now Q3 was more than
just weather... or port closures... as the employment index plunged to its
lowest since January.
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How
The ECB Took Over Greek Banks, In One Chart. Submitted by Tyler Durden on 07/16/2015
When it comes to the entire Greek financial system, the
ECB is now in full control with its "support" of banks at least €10
billion more than total Greek deposits.
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ECB
Joins IMF In Call For Greek Debt Cut, Schaeuble Shoots It Down (Again). S- by Tyler
Durden on 07/16/15
Despite
earlier commenting that Greek debt sustainability is hard without a write off,
German FinMin Schaeuble just told German lawmakers bluntly that there will
be no Greek debt cut. What is problematic for Merkel and her minions is
that Mario Draghi just confirmed what The IMF has been 'secretly' leaking -
that it is "uncontroversial that Greek debt relief is
necessary." As this confusion reigns, The
Eurogroup has issued a statement "welcoming the adoption by the Greek
parliament" of the measures imposed upon the Greek people to drive
them further into depression.
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How
The FOMC Became Institutionally Corrupt. Submitted by Tyler Durden on 07/16/2015
For the FOMC to reach its mandate of full employment they
boost stock prices which then creates employment in bubble jobs. When people feel rich, they spend more
money on the low quality bubble jobs, and hence employment reacts accordingly. This
is obviously entirely unsustainable as spending paid for by feelings
manipulated by the FOMC accounts to nothing more than pure capital consumption,
and the money flow will disappear as soon as the FOMC tighten the screw and the
good feeling disappears along with the stock market gains.
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ECB
Raises Greek ELA By €900 Million.
Submitted by Tyler Durden on 07/16/2015
The biggest unknown
in today's ECB Q&A was whether Mario Draghi would agree to raise the Greek
ELA, and moments ago we go the answer:
- DRAGHI SAYS ECB RAISED GREEK EMERGENCY BANK AID THURSDAY
- DRAGHI SAYS CONDITIONS TO INCREASE ELA HAVE BEEN RESTORED
- DRAGHI SAYS ECB ACTS ON ASSUMPTION THAT GREECE IS EURO MEMBER
Specifically, Draghi
said that "The decision to raise ELA again today is symmetrical to the
decision we took a few days ago to freeze ELA."
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Next
For Greece: Imminent Government Reshuffle, New Elections. S- by Tyler
Durden on 07/16/2015
Just as
Europe is preparing to implement a bridge loan (one which will be used up in 2
weeks after all the accrued IMF and upcoming ECB payments are made), and is
starting debate on just what the Third Greek bailout will look like, Greece is
about to commence yet another electoral campaign and the looming question: will
anyone assume political ownership for a bailout which even Tsipras said he does
not believe in.
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"Global
Carry Trade" On - EURUSD Plunges To 1.08 Handle, 2-Month Lows. S- by Tyler
Durden on 07/16/15
A 3rd Greek bailout
"Fix", an unchanged ECB with Draghi preparing to reiterate
"whatever it takes" - apart from for Greece, and The Fed appearing
more hawkishly tilted to a September liftoff (no matter what happens in
Greece).... The result - EURUSD is collapsing...
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Submitted by Tyler
Durden on 07/16/2015 - 07:23
- Greece licks wounds after bailout vote, ECB move expected (Reuters)
- Lose-Lose: Pushing Greece Out of Euro Is Costlier Than Write-Off (BBG)
- EMU brutality in Greece has destroyed the trust of Europe's Left (Telegraph)
- Schaeuble Shrugs Off Greek Vote Saying Euro Exit Is Best (BBG)
- Merkel’s tough tactics prompt criticism in Germany and abroad (FT)
- Investors Get Caught in Oil’s Slippery Wake (WSJ)
- Obama Girds for Battle With Congress on Iran Deal (WSJ)
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Global
Stocks Jump After Greeks Vote Themselves Into Even More Austerity. S- by Tyler
Durden on 07/16/15
And so the 2015
season of the Greek drama is coming to a close following last night's vote in
Greek parliament to vote the country into even more austerity than was the case
before Syriza was voted into power with promises of removing all austerity,
even with Europe - which formally admits Greece is unsustainable in its current
debt configuration - now terminally split on how to proceed, with Germany's
finmin still calling for a "temporary Grexit", the IMF demanding
massive debt haircuts, while the rest of Europe (and not so happy if one is
Finnish or Dutch) just happy to kick the can for the third time.
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Eurogroup
Agrees To €7 Billion Bridge Loan So Greece Can Repay Troika; No ELA Increase On
Deck. Submitted by Tyler
Durden on 07/16/2015
Back in February,
when the ill-fated Greek attempt to renegotiate its existing bailout (instead
culminating with a new, €86 billion bailout program 5 months later) was
launched, Eurogroup chief Jeroen Dijsselbloem rejected a request for a
short-term financing agreement to keep the country afloat while it renegotiates
the terms of its bailout program. "We don’t do bridge loans,
Dijsselbloem told reporters in The Hague", when
asked about Greece’s request. Turns out "we do" after all.
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July
5: Greek Independence Day; July 15: Greek In Dependence Day .S- by Tyler
Durden on 07/15/2015
The Greek parliament
just voted, in a 229 for and 64 against landslide, to implement
the austerity Europe demands to grant Greece the funds for Bailout #3 so that
Greece can then repay European creditors (as opposed to facing up to the
pain imminently and suffering through a Grexit) implicitly giving up their sovereignty
and sending their 61% "Oxi" voting citizenry into what will
inevitably be an even deeper economic depression. [ THIS WAS GOOD
TITLE: DESCRIBED REALITY WITH HIGH PRECISION]
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The
Future Costs Of Politically Correct Cultism. Submitted by Tyler Durden on 07/15/2015
Younger generations
are highly susceptible to social trends and are often easily manipulated by
popular culture and academic authority, which is why we are seeing PC
cultism explode with the millennials and post-millennials. The result
is a vast division within American society that cannot be mended. Those of us
on the side of liberty are so different in our philosophies and solutions to
social Marxists that there can be no compromise. The whole carnival can
end only one way: a fight. And perhaps this is exactly what the elites want:
left against right, black against white, gay against religious and straight,
etc. As long as the PC movement continues to unwittingly do the bidding of
power brokers in their efforts toward the destruction of individual liberty, we
see no other alternative but utter conflict.
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WASHINGTON BLOG
Here are some key
provisions of this “Treaty,” or Europe’s (or the EU’s) new
constitution:
Article 34. Professional secrecy. The Members or former Members of
the Board of Governors and of the Board of Directors and any other persons
who work or have worked for or in connection with the ESM shall not
disclose information that is subject to professional secrecy. They shall
be required, even after their duties have ceased, not to
disclose information of the kind covered by the obligation of
professional secrecy.
Article 35. Immunities of persons. 1. In the interest of the ESM,
the Chairperson of the Board of Governors, Governors, alternate Governors,
Directors, alternate Directors, as well as the Managing Director and other
staff members shall be immune from legal proceedings with respect to acts
performed by them in their official capacity and shall enjoy inviolability in respect
of their official papers and documents. …
Article 36. Exemption from taxation. 1. Within the scope of its
official activities, the ESM, its assets, income, property and its operations
and transactions authorised by this Treaty shall be exempt from all direct
taxes. …
It’s a “Mechanism”
(basically, a government) to transfer to the aristocracy the public’s assets,
which are the lands and pensions and healthcare and educational systems, which,
in a democracy, are supposed to serve the public, but which, in an aristocracy,
serve instead the billionaires. In Europe, aristocrats are still in
charge.
For example, one
confidential document, dated 11 June 2013, “Real
Estate Based Asset Financing for the Hellenic Republic,” has this:
“The Hellenic Republic [Greece] holds a diverse collection of assets,
many of which have been scheduled for sale as part of its commitments under the
Memorandum of Understanding (MoU) between the European Commission, the
International Monetary Fund, the European Central Bank [the three members of
’The Troika’], and the Hellenic Republic. The sale of state-owned assets is a
one-off opportunity to raise capital for the Hellenic Republic [to be able to
repay banks, which had lent to Greece at an 18% interest rate — and thereby
already enriched aristocrats heavily at the public’s expense — and now
retrospectively taxpayer-guaranteeing those junk bonds, which global
aristocrats had bought through those banks, granting these 18%-interest-rate
junk bonds a retrospective AAA+ equivalent taxpayer-guaranteed status,
courtesy of the politicians who were supposed to have represented the public].”
Here is what it actually does:
[ JUST THE END OF DEMOCRACY IN EUROPE ]
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When people say “capitalism has failed” or “capitalism
has succeeded,” we have to ask: what type of capitalism do you mean? Authentic capitalism, in which capital is
placed at risk to earn a return in a competitive, transparent marketplace,
or do you mean cartel-state capitalism, or crony-capitalism, or monopoly
capitalism or finance capitalism, i.e. the types that dominate the global
economy?
[ THE COMPETITIVE, TRANSPARENT MARKET PLACE NEVER EXISTED. K is the realm of cannibalism ]
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INFORMATION CLEARING HOUSE
THE TRAIL
OF THE TROIKA
VIDEO : URL https://youtu.be/BLB3uu1IXM0
VIDEO : URL https://youtu.be/BLB3uu1IXM0
A must-see documentary to
understand the situation in Greece.
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Barack Obama has
offered Prime Minister Benjamin Netanyahu immediate talks to upgrade the Israel
Defense Forces’ offensive and defensive capabilities in the wake of the deal on
Iran’s nuclear program.”
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Riots in
Athens: EU’s Impending Collapse?
By Norman Pollack
By Norman Pollack
Capitalism by its
very harshness is creating its own antithesis. Ideological labels are not
important; what is, is a genuine people’s government.
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US Military
Launches Jade Helm Domestic Training Operations
By Thomas Gaist
By Thomas Gaist
The drills mark a new and ominous stage in the
expansion of domestic military operations and planning
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Obama’s
Prison Charade
By Margaret Kimberley
By Margaret Kimberley
“sudden desire to
look like the Great Emancipator is an ongoing publicity junket.”
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By E.F Nicholson
Elections are
bought, not won. It’s really an advertising campaign showdown on who has the
slickest, most convincing sales pitch and the most effective scaremongering.
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GLOBAL RESEARCH
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NEWS IN SPANISH
El "acuerdo" sobre Grecia
de la Cumbre del Euro. Yanis Varufakis
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Desengáñate, Yanis: el capitalismo
se niega a ser salvado. Miguel Candel
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Grecia-Unión Europea: de derrotas
humillantes y victorias pírricas. Alberto Rabilotta
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Banco del Sur, el futuro de la
arquitectura financiera en disputa. Ulises Noyola Rodríguez
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Telesur, señal veraz, rebelde, muy
nuestra. Ángel
Guerra Cabrera
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Chile negocia en secreto más
dependencia del imperio. Paul Walder
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"Los campos de concentración nacen en
paralelo al régimen nazi" . Vídeos rebeldes -Entrevista a la historiadora Rosa
Toran
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Brasil “No creo que pueda haber una integración
regional exitosa con un Brasil en recesión y neoliberal” . Helena Marchini
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PRESS TV
‘Israel
losing strategic value to US’. Fri
Jul 17, 2015 The successful conclusion of nuclear talks between Iran and the
P5+1 countries has threatened Israel's strategic value to the United States, an
American political activist in Chicago says.
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Syria
pardons 400 terror-linked prisoners . Fri Jul 17, 2015 Syria pardons 400 prisoners held on terror-linked
charges under a presidential pardon decree.
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US
offers ‘consolation prize’ to Israel Fri Jul 17, 2015 US President Obama has offered to increase US military
aid to Israel in the wake of the Iran nuclear agreement, a report says.
[consolation prize?..
YOU WISH.. The Pentagon renewed the guillotine to the butchers of Iran ]
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'Greek
banks to reopen on Monday'. Fri
Jul 17, 2015 The Greek Deputy Finance Minister says banks will reopen across
the country on Monday.
[ They wanted more austerity .. but also more money. Old habit won’t be changed by tyrant decrets]
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‘N-conclusion
to serve Iran-Turkey ties’. Fri
Jul 17, 2015 The Iranian president says the conclusion of Iran’s nuclear talks
can boost Tehran-Ankara ties.
[ Turkey is destroying Syria & wants regime change there..
Does this policy serves Iran too?? ]
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Yemen
finds no respite from Saudi raids. Fri Jul 17, 2015 Saudi warplanes continue pounding areas across Yemen.
[ so sorry I can’t help you Yemen .. I have a pact with
my new partner.. is that the logic now? ]
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