Greece is selling off bits and pieces of its country to the creditors. Greek deposits become eligible for bail-ins. Major retailer going out of business because of decline in sales and revenue. Building permits plunge in NYC as the property tax expires. Atlanta FED recalculates GDP to 1.3 as the auto industry increases production and channel stuffs dealerships. Bail-ins are coming to America and the FDIC will go after depositors. Global growth has slowed according to Moody’s and the US is not prepared for a major crisis, the US has no grain reserves since 2008. GMO researcher not so independent as he receives 25,000 from Monsanto.US vaccine court pays out over 3 billion dollars to those who are hurt by vaccines. DHS hiding information on the use of the cell phone kill switch. Ukraine pushing propaganda that Russia has 50,000 soldiers on the Ukraine border. US moving military assets, tanks and soldiers to Bulgaria. Assad’s army is gaining ground, US, Turkey and Israel prepare for a ground invasion into Syria. Buffer zone is now in the process of being mapped out in Syria.
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Current News – 08.18.2015
- The Greek government has decided to sell 14 regional airports to German company Fraport
- The selling of the airports is part of a series of privatizations the Greek government has agreed to make as part of the bailout agreement.
- “Greece’s third bailout will spare depositors in any restructuring of the nation’s financial system, senior bank bondholders may not be so lucky,
- Which is bad news for bondholders, but the biggest losers will once again be depositors who represent the vast bulk of unsecured Greek bank liabilities.:
- “It is not clear how they will make it possible to bail-in bonds while excluding deposits, but as we have seen in other problematic situations,
- Which is probably why earlier today, Bloomberg followed up with a report that a recapitalization of Greek banks will exclude all depositors from losses until the EU’s Bank Recovery and Resolution Directive rules go into effect on Jan. 1, citing an EU official.
- depositors will indeed be bailed-in (if mostly those above the €100,000 insured limit,
- The troubled clothing retailer said its revenue and cash have deteriorated so much, it may have to go out of business
- American Apparel
- After 3 months of exploding building permits – driven exclusively by the Northeast region as a result of an expiring property tax break in NYC, reality bit in July as permits plunged 16.3% to the lowest since March (biggest drop since June 2008),
- This was also the biggest miss on record for permits.
- Housing Starts rose less than expected but thanks to a dramatic upward revision are stable at around 1.2 million units
- According to the Mortgage Bankers Association’s (MBA) Weekly Mortgage Applications Survey for the week ending August 7, 2015, mortgage applications increased 0.1 percent from one week earlier.
- , The Atlanta Fed just increased its forecast for Q3 GDP from +0.7% to +1.3% – though this is still less than half consensus estimates. The driver of this ‘almost doubling’ was due to a 15.3% increase in seasonally adjusted motor vehicle assemblies in July stuffing inventories even fuller. Of course, as we previously noted, this is entirely unsustainable and we await the mean-reversion in August and September.
With inventories at record highs (having risen for 61 straight months)…
- The financial system is predominantly comprised of digital money. Actual physical Dollars bills and coins only amount to $1.36 trillion. This is only a little over 10% of the $10 trillion sitting in bank accounts. And it’s a tiny fraction of the $20 trillion in stocks, $38 trillion in bonds and $58 trillion in credit instruments floating around the system.
- In the 2008 meltdown, 24% of the assets in Money Market funds were liquidated in the course of four weeks. The ensuing liquidity crush nearly imploded the system.
- Because of this, Central Banks and the regulators have declared a War on Cash in an effort to stop people trying to get their money out of the system.
- Perhaps the most concerning is the fact that should a “systemically important” financial entity go bust, any deposits above $250,000 located therein could be converted to equity… at which point if the company’s shares, your wealth evaporates.
- …Insured depositors themselves would remain unaffected.
- In other words… any liability at the bank is in danger of being written-down should the bank fail. And guess what? Deposits are considered liabilities according to US Banking Law. In this legal framework, depositors are creditors.
- 1) The FDIC takes over the bank.
- 2) The bank’s managers are forced out.
- 3) The bank’s debts and liabilities are converted into equity or the bank’s stock. And yes, your deposits are considered a “liability” for the bank.
- 4) Whatever happens to the bank’s stock, affects your wealth. If the bank’s stock falls at this point because everyone has figured out the bank is in major trouble… your wealth falls too.
- You can stop waiting for a global financial crisis to happen. The truth is that one is happening right now. All over the world, stock markets are already crashing. Most of these stock market crashes are occurring in nations that are known as “emerging markets”.
- 1. Malaysia
- 2. Brazil
- 3. Egypt
- 4. China
- 5. Indonesia
- 6. South Korea
- 7. Turkey
- 8. Chile
- 9. Colombia
- 10. Peru
- 11. Bulgaria
- 12. Greece
- 13. Poland
- 14. Serbia
- 15. Slovenia
- 16. Ukraine
- 17. Ghana
- 18. Kenya
- 19. Morocco
- 20. Nigeria
- 21. Singapore
- 22. Taiwan
- 23. Thailand
The flight of investor money from U.S. stocks has turned into a stampede.
In fact, the $78.7 billion leaving domestic equity-focused funds has been worse in 2015 than it was even during the financial crisis years,
Domestic equity funds surrendered $20.4 billion in July alone and have seen $158.6 billion in redemptions over the past 12 months.
- A global financial crisis has already begun.
- The global economy is on course for muted growth this year and next , the prospect of higher interest rates in the US and the lingering threat of a Greek exit from the euro, according to the latest forecasts from Moody’s.
- Moody’s forecasts GDP growth for the G20 to slow to 2.7% this year, down from 2.9% in 2014.
- Fitch is forecasting eurozone economic growth of about 1.6% annually between 2015-2017.
- The drought in the American West is causing devastating consequences on US agriculture.
- President Franklin D. Roosevelt established just such a reserve to rescue farmers during the Great Depression. But the focus on capitalism during the second half of the century led to the 1996 Freedom of Farm Act, a bill essentially meant to keep big government out of agriculture.
- An especially baffling decision given the billions spent each year on farm subsidies.
- Should a disaster occur, those corporate stockpiles will be there, but companies will have no incentive to provide grain to those in need. With demand high, stored grain will be sold, and excess will be withheld for future gains.
- In January of 2015, a Freedom of Information Act (FOIA) request filed by Oakland organization U.S. Right to Know requested email records between academics, scientists, and representatives of Big Agriculture.
- The FOIA findings included communications of well-known, staunch proponents of GM crops like Kevin Folta, a professor and chairman of the Horticultural Sciences Department at the University of Gainesville, who received a $25,000 grant from Monsanto.
“The documents show that Monsanto paid for Folta’s travel to speak to US students, farmers, politicians and the media. Other industry contacts occasionally sent him suggested responses to common questions about GM organisms.”
- Folta is regularly sold to the publicas an “independent” authority on GMOs.
- US government has had to pay out over $3 billion to vaccine-injured families since 1986.
- The Vaccine Adverse Events Reporting System (VAERS) lists several negative outcomes of vaccines. Many of these side effects are worse than the diseases these vaccines are for! VAERS reports that the MMR (measles, mumps, rubella) vaccine is “linked to febrile seizures, which are a type of seizure that occurs in infants and young children in association with fever.”
- Worse yet, VAERS reports that a whole slew of vaccines, including MMR, influenza, hepatitis B, and tetanus “are linked to anaphylaxis.” Anaphylaxis shock can lead to sudden death. Many of these cases are under-reported, filed as SIDS, or sudden infant death syndrome.
- US Vaccine Court bypasses the true judicial process, protecting vaccine makers while paying off families affected by vaccine-induced autism
- While the autism debate rages on, silently, the US Vaccine Court, established in 1986, has awarded several families large cash settlements after confirming that their child likely did become autistic because of vaccine(s).
- This separate kangaroo vaccine court allows the vaccine manufacturers and pharmaceutical companies absolute immunity from true prosecution
- The Commerce Department is delaying for at least a year a controversial plan to internationalize Internet control by giving up oversight of its names and addresses system.The department is instead renewing its contract for a year with the Internet Corp. for Assigned Names and Numbers (ICANN), the Obama administration said it planned to transfer its oversight to a group of international stakeholders by September 2015. critics fear the shift could clear the way for influence from foreign governmentsThe House voted in June to give lawmakers the power to review other governance models for ICANN before any transition occurs,
- On August 11, the Electronic Privacy Information Center (EPIC) filed a petition with the U.S. Supreme Court in their latest effort to force the U.S. government to reveal information about a cellphone shutdown policy, also known as a “kill switch”.
- EPIC has fought for records related to the program since July 2011, when it was revealed that Bay Area Rapid Transit (BART) officials in San Franscico shut down cellular networks during a protest of a murdered homeless man. , EPIC submitted a FOIA request to the Department of Homeland Security to find out more about the procedures governing such actions.
- The DHS initially claimed that they were“unable to locate or identify any responsive records.” However, on November 12, 2013, a District Court ruled that the DHS improperly withheld information, specifically information regarding something known as Standard Operating Procedure 303 or SOP 303. The DHS appealed this decision and was once again allowed to withhold records. Now EPIC is taking the fight to the Supreme Court.
- EPIC has asked the court for three specific pieces of information regarding the kill switch program.
- In the last few days, at least 15 people were killed during armed clashes between the “Coordination of Azawad Movements” and “Platform” rival militant groups in northern Mali.
- “To prevent any chance of clashes that can cause civilian casualties… 20-kilometer safety zone around the city of Kidal,
- The shelling of the self-proclaimed Donetsk People’s Republic (DPR) by Ukrainian troops has become less intensive as the deputy chief monitor of the OSCE Special Monitoring Commission (SMM), Alexander Hug, visits the troubled eastern republic, DPR defense ministry has told the Donetsk News Agency.
- Ukrainian President Petro Poroshenko and European Commission President Jean-Claude Juncker discussed the situation in eastern Ukraine on Tuesday, and agreed to hold a meeting by the end of August,
- Ukrainian Deputy Defence Minister: “Depending on how the situation develops, there could be a 7th, an 8th or 9th wave of mobilisation. We’ve got 50% of the people we need.”
- Donetsk People’s Republic (DPR) has denied statements of the US State Department that the militia allegedly attacked the northern and eastern parts of the city of Mariupol in east Ukraine.
- “The DPR troops are at their positions and are not making any attacks.
- The ministry said the militia does not react to provocations on the part of the Armed Forces of Ukraine and adheres in full to the Minsk Agreements.
- On Monday, the US State Department accused militiamen of making attacks in the north and east of Mariupol. The United States claims Kiev violates the ceasefire in Donbas for self-defense.
- Russia has concentrated up to 50,000 soldiers on the border with Ukraine to exert pressure on the country’s leadership in the Minsk process, spokesman of the General Staff of the Armed Forces of Ukraine
- more than 500 combat vehicles and Grad multiple rocket launcher systems near the disengagement line with Ukraine, .
- The intelligence service has also confirmed the location of the Tochka-U tactical missiles,
- 18 armoured personnel carriers, six of which were armed with anti-tank guided missiles, were moving out of Mariupol
- US Marines stationed in Bulgaria are expected to receive tanks and heavy artillery as part of efforts to move military equipment across the continent to Eastern Europe to deter alleged threats from Russia, according to a report.
- More than 160 Marines are accompanying four M1A1 Abram tanks, three 155 mm Howitzers, and six light-armored vehicles, which made their long journey from a military base in North Carolina in the US to Bremerhaven during the weekend.
- Iranian Defense Minister Brigadier General says the Islamic Republic is set to receive upgraded batteries of the S-300 missile defense system from Russia, saying the delivery will take place soon. Tehran is in talks with Moscow to buy new Russian fighter
- “In the field of fighter jets, we declared our requirements to the Russians and we have made no request in this field to France,” said, adding that it is very “unlikely” for Iran to engage in military cooperation with France in the current situation.
- Syrian government forces recaptured four northwestern villages on Tuesday in a counter-attack on insurgents threatening strongholds
- “The army is advancing in the area,”
- The Syrian air force destroyed the supply routes of the terrorist organizations in the countryside of Idlib.
- Investigative journalist Dr. Nafeez Ahmed has been relentless in exploring and highlighting U.S. government complicity in the origins and eventual success of ISIS. In case you aren’t familiar with his work, here’s a quick bio:
Dr Nafeez Ahmed is an investigative journalist, bestselling author and international security scholar. A former Guardian writer
- Defense Intelligence Agency (DIA), Michael T. Flynn, has admitted that the White House made a willful decision to support al-Qaeda fighters in Syria against Assad despite warnings from the intelligence community. These fighters, and others, later became ISIS.
- Here are some excerpts from Dr. Ahmed’s incredible article. Prepare to have your mind blown:
Flynn said that the White House’s decision to support al-Qaeda linked rebels against the Assad regime was not a mistake, but intentional:
Prior to his stint as DIA chief, Lt. Gen. Flynn was Director of Intelligence for the Joint Special Operations Command (JSOC) and Commander of the Joint Functional Component Command.
Flynn is the highest ranking former US intelligence official to confirm that the DIA intelligence report dated August 2012,released earlier this year, proves a White House covert strategy to support Islamist terrorists in Iraq and Syria even before 2011.
- Dr. Ahmed…
“The Americans allowed ISIS to rise to power because they wanted to get Assad out from Syria.
- Turkey and the United States have jointly decided to move into Syria, daring Russia to respond.
- The US and Turkey have dropped all references to protecting refugees,
- State Department spokesman, Mark Toner, yesterday started laying out the rules for the “buffer zone” the US and Turkey have decided they are carving out for Turkey. It is claimed that this “zone” will be occupied by the Free Syrian Army and can only be used by forces sworn to overthrow the legal government in Damascus.
- There is a problem with this. There are no units of the Free Syrian Army in the North of Syria. In February 2015, that force disbanded with its leadership fleeing to Turkey.
- Any forces sent by the United States and Turkey into Syria can only be there for one purpose, assisting ISIS in overwhelming the Damascus government that has taken on new vigor in its fight against terrorist forces.
- On Augut 16, Israeli media reported IDF preparations for possible Golan Heights ground operations on Syria’s side of the border if alleged terror attacks occur against Israel – likely false flags it can use as justification for aggression.
- Israeli media reported state propaganda about threatening Islamists along Israel’s border. The IDF on high alert in response conducted a large-scale drill last week simulating three scenarios:
- Fact: No evidence suggests Islamic State or other terrorist elements in Syria turning on their sources of support, namely Israel.
- They haven’t attacked Israel or its military any time throughout nearly four and a half years of conflict. .
- Longstanding US/Israeli plans call for balkanizing Syria – part of their scheme to redraw the Middle East map,