Central Bankers now pushing falsehoods to cover up the Greek problem. Greeks are protesting against austerity. Greece will open 700 branches and will allow pension withdrawals only. S&P downgrades Greece and predicts a default. Puerto Rico reports that they cannot pay their debts. Some Italian banks stay closed on Monday. White House says Greece problem will not effect US Banks. Central banks of central banks says not prepared for a major collapse. Obama sign TAA fast track. Ukraine positions tanks to the contact line. US intelligence reporting (no real facts) Assad is getting ready to use an unknown chemicals in a chemical attack. Turkey now setting up a buffer zone in Syria.
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Current News – 06.29.2015
- EU President Jean-Cleaude Juncker unleashed falsehoods this morning as the fearmongering and blame-shame-game for Greece begins. He proclaimed that “pension cuts were not in the creditors proposals” which as many pointed out is a total lie and then said: “You shouldn’t commit suicide because you’re afraid of dying. You should say ‘yes’ regardless of what the question is.” Got that Greek Grandmas – Vote YES no matter what you think – that’s how EU democracyu works…
- Mr. Juncker rejected the argument by Greek Prime Minister Alexis Tsipras saying that a “no” vote by Greeks on July 5 would give the government a better negotiation position in the rescue talks.
- Thousands have taken part in rallies in central Athens following the government’s announcement that it’s closing the banks and imposing capital controls.
- Some banners conveyed a defiant call to leave the eurozone.
- “Now it’s our time to say no because they (the creditors) want the whole (of) our land. They want our freedom, they want our rights, they want our properties, they want our homeland. I think the Greek people will fight back,” said one demonstrator.
- The official Greek referendum ballot was brought to light today, Monday, June 29. The upcoming referendum (July 5) will only require Greek citizens to answer “Yes” or “No” to the government’s question.
- Citizens will be called to vote in electoral centers in their place of residence between 7 am and 7 pm, on Sunday July 5,
- some Greek bank branches will re-open sooner than expected.
- *GREEK OFFICIAL: 700 BANK BRANCHES TO OPEN THURSDAY FOR PENSIONS
- only pension withdrawals are allowed in limited size.
- *GREEK PENSION WITHDRAWALS WILL BE LIMITED TO EU240: OFFICIAL
- S&P just downgraded Greece’s credit rating to CCC- from CCC.
- the BIS released its annual report
- . the BIS map shows a snapshot of the original annual report release. Dollar zone in Green… Euro zone in blue: Greece was “erroneously” omitted from the blues.
- Macedonia’s central bank on Sunday demanded that all banks in the country withdraw their deposits held at Greek lenders “Preventive measures” are also in force to ensure capital flows into Greece will be restricted, .
- the contagion promptly spread a few hundred kilometers west to Italy . Italian banks failed to start trading on Monday as fears over a Greek debt default induced many investors to shed peripheral stocks, including Italian, with banks suffering the most.”
- Puerto Rico is set to release a key report on its financial stability Monday, Gov. Alejandro Garcia Padilla says their “the debt is not payable.”
- Puerto Rico is the next Greece where the “vulture” investors bought their bonds back in 2013 when its roughly $70 billion in outstanding debt suffered a huge plunge in bond prices over the summer.
White House: No federal bailout for Puerto Rico, bail-ins??
- The White House said Monday it would not provide a bailout for Puerto Rico, which is facing possible austerity measures as a deadline looms for debt restructuring to relieve the island’s $73 billion debt burden.
- United States President Barack Obama and French President Francois Hollande had a phone conversation on Monday, in which they reached an agreement to increase their cooperation in restarting dialogue on a Greek bailout program,
- they will work together to find a solution to the crisis as soon as possible
- The White House is calling for Greece to remain in the eurozone. Earnest says the parties negotiating over Greece’s debt must develop a package of reforms and financing that will leave Greece with a sustainable debt plan without leaving the eurozone.
- Earnest is calling attention to “strong statements” from Greek leaders and other eurozone countries for Greece staying in the currency union. He says keeping Greece in the eurozone is in the interests of all parties involved.
- Larry Fink, BlackRock’s chief executive officer, said in December that U.S. bond funds face increased volatility, adding that he expected a “dysfunctional market” lasting days or even weeks within the next two years. – Bloomberg
- BlackRock has already arranged credit lines from banks to cover the possibility of a redemption stampede from its riskier funds. Does this mean BlackRock now foresee events coming that will trigger a redemption run because the fund company is seeking SEC approval for the ability to take cash from funds with cash and lend that cash to funds that will need cash when the redemption rush begins.
- May Pending Home Sales are the highest in 9 years, the pace of growth is slowing as April’s rise was revised lower to +2.7% (from 3.4%) and May prints +0.9% (slightly less than the 1.0% jump expected). The 0.9% rise is the slowest MoM rise since Dec 2014.
- Everything in this country is becoming Third World – nothing functions anymore. – Dr. Paul Craig Roberts,
- According to the Bank for International Settlements (BIS), the shadowy “central bank of central banks,” the world as it stands is incapable of combating another global financial crash .
- according to their 2015 annual report:
• The world will be unable to fight the next global financial crash as central banks have used up their ammunition trying to tackle the last crises.
• Central banks have backed themselves into a corner after repeatedly cutting interest rates to shore up their economies.
• Central banks may have contributed [to the coming crisis] by fuelling costly financial booms and busts and delaying adjustment.”
- Moscow received almost 6 percent of voting rights in the bank
- As the central figure in the new institution and the largest stakeholder, China received the major share of votes (26.06 percent). India was granted 7.5 percent of voting rights. Britain, Germany and Australia are also among the founding members.
- Obama has also signed the Trade Adjustment Assistance Act (TAA)
- A NEWLY RELEASED document from the FBI sheds a little more light on the government’s controversial policy around the use of zero-day exploits. (Zero-day vulnerability refers to a security hole in software—such as browser software or operating system software. Zero-day exploit refers to code that attackers use to take advantage of a zero-day vulnerability. They use the exploit code to slip through the hole in the software and plant a virus, Trojan horse or other malware onto a computer or device. )
- It wasn’t until last year that the government even admitted to using zero-day exploits for attack purposes. Following that disclosure, the White House then revealed that it had established an Equities process for determining when a zero-day software vulnerability it learns about should be disclosed to a vendor to be fixed or kept secret so that the NSA and other agencies can exploit it for intelligence or law enforcement purposes.
- the government had established a policy for using zero-days sometime in 2010, but wouldn’t say more.
- A previous document obtained by the Electronic Frontier Foundation revealed that a task force had been created in 2008 to discuss developing the policy. The task force then recommended a vulnerabilities equities process be developed.
- The European Parliament will vote on the abolition of the so-calledpanorama freedom. Thus a Facebook publication of vacation pictures with buildings in the background would be allowed only with the permission of the architect.
- Under the new proposed law you would need approval of of the architect of the object.
- a secretive unit of the UK’s GCHQ spy agency reportedly helps traditional law enforcement and is engaged in manipulating public opinion via the internet, new documents reveal.
- “involved in efforts against political groups it considers to be a problem to to the government.
- Among them is “Providing spoof online resources such as magazines and books that provide inaccurate information (to disrupt, delay, deceive, discredit, promote distrust, dissuade, deter or denigrade [sic]/degrade)”; “setting up spoof trade sites (or sellers) that may take customer’s money and/or send customers degraded or spoof products (to deny, disrupt, degrade/denigrade [sic], delay, deceive, discredit, dissuade or deter”; “sending spoof e-mails and text messages from a fake person or mimicking a real person (to discredit, promote distrust dissuade, deceive, deter, delay or disrupt.”
- The Monday operation, which involved American forces, destroyed a weapons cache in the Parwan Province, sparking demonstrations that briefly closed a highway.
- President Ashraf Ghani and Chief Executive Abdullah Abdullah ordered the investigation into the operation.
- Enraged local residents have argued that the munitions should have been relocated away from residential areas before being destroyed.
- Ukraine called on its creditors to enter into a confidentiality agreement so they can hold direct negotiations and overcome a three-month deadlock in restructuring talks.
- Russian Energy Minister Alexander Novak and Gazprom head Alexey Miller:
- said “We received a request from the Ukrainian side to extend the discount.
- Ukraine President Petro Poroshenko’s statements about amendments to the Ukrainian constitution have no sense, since they have not been agreed with representatives of the self-proclaimed republics as provided in the Minsk agreements,
- “Everything Poroshenko is saying, all the amendments they plan to introduce in Kiev, everything is absolutely senseless and manipulative,”
- Foreign specialists are operating unmanned aerial vehicles of the Ukrainian army to conduct aerial reconnaissance and adjust fire,
- According to an LPR security officer, this information was derived from decoding of a flight recorder retrieved from a drone shot down
- The examination of the drone shot down by the LPR militias revealed photos of the drone operators made while testing the drone’s camera. “The photos feature men operating the drone from an apartment equipped with special devices,” the agency said. “Such equipment and work conditions are not typical for rank and file Ukrainian soldiers. More to it, the uniform and underwear of such models and colors are not used in any of the Ukrainian army units.”
- The defence ministry of the self-proclaimed Donetsk People’s Republic has registered the redeployment of tanks and Ukrainian troops to the town of Maryinka
- Six tanks have arrived
- Germany’s Federal Security Council reportedly approved extensive arms exports to the Gulf region,
- Germany allowed the export of fifteen German patrol boats to Saudi Arabia, the country notorious for massive human rights abuses.
- Amid talk of a potential Turkish military intervention in Syria, the Turkish military is deploying tanks to the common border to create a “military buffer zone” there.
- Turkish officials were also discussing the potential intervention.
- The planned buffer zone stretches 110 kilometers (68 miles) long and 28 kilometers (17 miles) wide between the southern Turkish towns of Karkamis and Oncupinar.
- Erdogan has accused Syrian Kurds of trying to establish a state in the crisis-hit country’s north,
- “U.S. intelligence agencies believe there is a strong possibility the Assad regime will use chemical weapons on a large scale as part of a last-ditch effort to protect key Syrian government strongholds if Islamist fighters and other rebels try to overrun them, U.S. officials said.“
- Note: no facts this time, not even planted ones – just beliefs.
- The WSJ adds that “analysts and policy makers have been poring over all available intelligence hoping to determine what types of chemical weapons the regime might be able to deploy
- But didn’t the US supervise Assad’s disposition of his chemical weapon stockpile two years ago
- “the intelligence is “being taken very seriously because he’s getting desperate” and because of doubts within the U.S. intelligence community that Mr. Assad gave up all of his deadliest chemical weapons, a senior U.S. official said.“
- In an ominous warning issued jointly by the FBI, the Department of Homeland Security and the National Counterterrorism Center, all USA law enforcers have been instructed “to be vigilant and prepared” ahead of the July 4th Independence Day