IMF Gives The Chinese Yuan The Green Light To Become A Reserve Currency – Episode 678

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IMF giver green light for Chinese Yuan to become a reserve currency
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Rumors that Greece is making a deal turns out to be false. Depositors in Greece remove more money from the banks. Venezuela and Russia make an economic free zone. IMF gives the green light for the Yuan, it is now ready to become a reserve currency. More states join in to stop the President’s immigration executive order. Senate unlikely to push for the renewal of the Patriot Act, even though the President is pushing for a renewal. Macedonia ready to join the Turkish-Russian pipeline. By the end of 2015 the US will provide Ukraine with a 3 billion dollar loan guarantee. NATO placing permanent troops and military assets in Eastern Europe. US and coalition forces are preparing an event to take out Assad.

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Current News – 05.27.2015


Economy

JPMorgan Warns Greece “Is Not Investable” As Germany Denies Any Deal Progress

  • Rumors today about a Greek deal almost completed but it seems that it was just that rumors.
  • JPMorgan warns “hope is not an investment case. The longer we go without a deal, the less likely we believe a deal becomes/the higher the chance of Grexit.”

  • *LITTLE PROGRESS SEEN IN GREECE TALKS, GERMAN GOVT OFFICIAL SAYS
  • *GERMAN GOVT SURPRISED BY GREEK REPORTS OF PROGRESS: OFFICIAL

 

Source: zerohedge.com

Depositors Pull €300 Million From Banks In Single Day

  •  Credit sector professionals reported that deposit outflows on Tuesday alone came to 300 million euros,against about 100 million euros per day in recent days. They said that while this amount is quite high, the situation is under control 

Source: zerohedge.com

US Treasury Secretary issues tough message to Greece

  • The US Treasury Secretary Jack Lew has issued a warning to Greece
  • Lew stated that Greece has not achieved enough progress to solve the issue. He also noted that if there is a crisis in Greece prompted by a breakdown in the talks, the country will bear the brunt of the negative consequences.

Source: thetoc.gr

Stocks Began Falling Right At This Time Of The Year Just Prior To The Last Financial Crisis

  •   Throughout the first four and a half months of 2008, stocks moved up and down in a fairly narrow range, and the Dow closed at a short-term peak of 13,028.16 on May 19th.  From there it was all downhill for the rest of the year.  So will a similar thing happen in 2015 as we approach the next great financial crisis?  Since March 20th, the Dow Jones Transportation Average has already fallen by almost 800 points.
  •  the Dow Jones Industrial Average performed during 2008.  As you can see, stocks began plummeting long before the financial crisis in the fall.  From May 19th through early July, the Dow fell by about 2,000 points.  Should we expect to see a similar pattern this summer?…

Dow Jones Industrial Average 2008

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Source: theeconomiccollapseblog.com

Venezuela offers Russia free economic zones, electricity projects — foreign minister

  • Venezuela is offering Russia cooperation in the development of special economic zones, including electric power projects,
  • Venezuela wants Russia to participate in the development of special economic zones, which are currently being established,”

Source: tass.ru

Chinese Yuan May Become World Currency After IMF ‘Approval’

  • The rise of the Chinese yuan as a world currency has no more obstacles as it is now considered “no longer undervalued” by the International Monetary Fund,
  • According to an evaluation of the Bank for International Settlements, the real effective exchange rate of the yuan has risen in the last five years by 33 percent.
  • The IMF declaration is a surprising blow to the dollar as the yuan now can become a likely part of the IMF’s currency basket. With this move, China would be closer to its goal: to establish the yuan as a world currency and, thus, to break the dominance of the dollar in the long run.

Source: sputniknews.com


Rights

Obama Loses Immigration Battle As States Block Executive Order

  • Supreme Court ruling, the judges from the 5th U.S. Circuit Court of Appeals in New Orleans ruled that Obama’s executive action should remain on hold pending further judicial proceedings. The decision further delays Obama’s immigration order, which was first blocked by a Brownsville, Texas lower court judge in February. 
In a statement, Ken Paxton, the attorney general of Texas, said Mr. Obama had tried to impose “a drastic change in immigration policy” without the consent of Congress.
Source: zerohedge.com
  • While pro-surveillance senators are continuing to appear optimistic on the last minute Sunday vote on the Patriot Act Section 215 renewal, there appears to be little reason for them to be so hopeful.
  • They seem to be resting on the idea that White House support and the close deadline will scare a few votes over to their side, but major opposition from Sens. Rand Paul (R – KY) and Ron Wyden (D – OR) doesn’t seem to have changed, nor is there any indication of anyone else coming on board.

Source: news.antiwar.com

Obama Demands Congress Renew Patriot Act

  • President Obama demanded that Congress renew Section 215 of the Patriot Act before the expiration on Monday. “This needs to get done,” Obama declared,

Source: news.antiwar.com

Obama can end NSA bulk surveillance by himself – Rand Paul

  • Sen. Rand Paul said Obama was being “disingenuous” and could end the program himself. Sen. Paul, a Kentucky Republican, said that because much of the NSA’s sweeping authority was cemented under an executive order, Obama could act alone to repeal the agency’s power.

Source: rt.com

NSA Continues Personal Data Collection Despite Patriot Act Expiry

‘Spying on everyone’: Tories to introduce wider-than-expected surveillance powers

  • The new Conservative majority government will bring into force far-reaching snooping powers that are potentially more invasive then previously feared, causing deep concern among privacy campaigners.
  • The extension of powers will come as a surprise to many, as will the speed with which they are being brought into effect.
    Open Rights Group Director Jim Killock told the Guardian: “The government is signaling that it wants to press ahead with increased powers of data collection and retention for the police and GCHQ, spying on everyone, whether suspected of a crime or not.
  • “This is the return of the ‘snooper’s charter,’ even as the ability to collect and retain data gets less and less workable.
  • “We should expect attacks on encryption, which protects all our security.

Source: rt.com


War

Russia, India to Conduct Joint Naval Drills

  • “The first conference on preparations for the joint Russian-Indian naval exercises Indra Navy-2015 June 1 and 4,

Source: sputniknews.com

Macedonia to join Turkish Stream after Russia-EU agreement is reached — PM

  • Macedonia will join the Turkish Stream gas pipeline project when an agreement on it is reached by Moscow and Brussels,
  • When asked about other plans of the Macedonian government on gas supplies and energy security, the prime minister said that the authorities were considering three other sources of the “blue fuel” supplies.
  • Macedonia plans to receive liquefied natural gas from the port of Athens, to connect to the Trans-Adriatic pipeline (TAP) from Azerbaijan via Greece, and also to receive gas through the gas grid interconnector between Bulgaria, Romania and Turkey.

Source: tass.ru

Russia-Ukraine trade shrinks 64%

  • The first four months of 2015 showed a 64 percent fall in Russian-Ukrainian bilateral trade, according to a World Trade Center (WTC)
  • Russian exports to Ukraine in January-April 2015 in monetary terms amounted to $2.964 billion compared to $8.123 billion in the same period last year,
  • Imports reached $1.608 billion, compared to $4.031 billion in January-April last year.

Source: rt.com

Kiev Issues US-Backed Eurobonds Worth $1 Bln With 2.5% Interest Rate

  • The Ukrainian Cabinet of Ministers on Wednesday signed a decree on issuing eurobonds under a US-backed guarantee of $1 billion with a 2.5 percent interest rate, according to the Cabinet Members’ website.

Source: sputniknews.com

Biden: US Loan Guarantees to Ukraine Can Reach $3Bln by End of 2015

  • The United States will potentially provide Ukraine with an additional $1 billion loan guarantee at the end of 2015 if Kiev continues implementing reform measures,
  •  In addition, a $1 billion loan guarantee last year, another $1 billion loan guarantee signed this month. And, potentially, another $1 billion at the end of this year if Ukraine continues on the path of reform.”

Source: sputniknews.com

Poroshenko Begs for NATO Intervention in Ukraine

  • The Ukrainian president continues to plead for support from NATO and wants investors to sink more money into a country on the brink of default
  • “I think that [Russia is] preparing for an offensive,” Ukrainian President, Petro Poroshenko,
  • If Russia wanted to take Ukraine, it would have invaded immediately while Kiev was in disarray and confusion last summer; It would not make sense to invade now that the U.S. is training Ukrainian troops and likely supplying Kiev with lethal weapons 

Source: russia-insider.com

Poroshenko Signs New Ukrainian Security Strategy

  • The strategy envisions the creation of conditions for successful European integration and accession to NATO.
  • “The presidential decree approves the decision of Ukraine’s National Security and Defense Council ‘On Strategy of National Security of Ukraine’ adopted on May 6, 2015,”

Source: sputniknews.com

Exclusive: Russia masses heavy firepower on border with Ukraine – witness

  • Russia’s army is massing troops and hundreds of pieces of weaponry including mobile rocket launchers, tanks and artillery at a makeshift base near the border with Ukraine,

Source: reuters.com

NATO to Establish up to Eight Command Units in Eastern Europe

  • NATO’s enhanced readiness and military presence among partner countries bordering Russia is underway, Stoltenberg explained.
  • “NATO has already increased its military presence in the eastern part of the alliance with more air policing, with more troops doing exercises, and also with more ships in the Black Sea and the Baltic Sea.”
  • Stoltenberg refused to confirm whether he discussed permanent NATO presence in Eastern Europe with President Obama.
  • Source: sputniknews.com

NATO General Warns, Putin Is A “Dangerous Gambler… Willing To Use Nuclear Weapons”

  • General hans-Lothar Domrose, NATO Commander of the Brunssum Allied Joint Force Command, said in an interview with German magazine Focus Online that Russian President Vladimir Putin is a tough-minded, forward-thinking politician who is capable of foreseeing situations, but also regards him as a dangerous “gambler,” who “is willing to use nuclear weapons against NATO troops.”

 

Source: zerohedge.com

Israeli jets strike Gaza ‘terror infrastructure’ after rocket attack

  • The Israeli military has launched airstrikes on what it called the “terror infrastructure” in Gaza, following an earlier rocket attack on Israeli territory which the IDF blames on Hamas.
  • Four targets identified as being part of the terror infrastructure were hit in the southern part of the Gaza strip15
  •  Israeli air raids targeted  refugee camp in central Gaza

Source: rt.com

Israel Warns Gaza ‘Will Pay’ if Missile Attacks Continue

Libyan prime minister escapes assassination attempt in Tobruk

  • Gunmen tried to assassinate Libya’s internationally-recognised prime minister on his way to the airport in the eastern city of Tobruk on Tuesday.
  • He did not elaborate but his cabinet said in a statement the gunmen had been “paid criminals” who had previously tried to storm parliament.

Source: theguardian.com

Pentagon Dramatically Under-reports Civilian Deaths in Syria Strikes

  • In nine months of US and coalition airstrikes against ISIS targets in Syria, thousands of people have been killed, including hundreds of civilians. They’ve destroyed granaries and private oil platforms, and had multiple incidents of large civilian tolls.
  • These reports are coming out across myriad sources, including independent monitors, but are repeatedly denied by Pentagon officials. They deny not only the numbers, but any deaths at all, .

Source: news.antiwar.com

Syrian Foreign Minister Calls on France to Halt Anti-Damascus ‘Conspiracy’

  • The French top diplomat added that Syrian President Bashar Assad had lost control of his country and his government is on the verge of falling apart.

Source: sputniknews.com

Syria and Algeria agree to scale up economic cooperation

  • The two sides discussed enhancing joint cooperation to increase the trade exchange volume as the Algerian market needs Syrian products, particularly textile products, foodstuffs and medicines.
  • They affirmed that enhancing trade exchange will yield common benefit for Syria and Algeria, stressing the necessity of reestablishing the Syrian-Algerian Joint Business Council which is considered an effective tool for promoting joint cooperation between the two countries.

Source: sana.sy


Cyber Attacks

IRS Hacked: Government Admits 100,000 Taxpayers’ Data Stolen  

  • *IRS SAYS THIEVES ACCESSED TAX INFORMATION ON 100,000 PAYERS: AP
  • *IRS’S KOSKINEN SAYS THERE WAS UNAUTHORIZED ACCESS FEB-MAY.
  • Old tax returns were stolen, was someone looking for dirt on a politician, judge etc. Was this done to push the CISA bill.

Source: zerohedge.com


False Flags

ISIS Social-Media Chatter Prompts Bulletin About Possible US Targets

  • US is reporting   “heightened chatter” and urged that precautions be taken. Corporate media and US warns against people asking “unusual questions” about building maintenance or security procedures.

Source: newsmax.com


Other News

HUGE PIPELINE COMPANY KINDER MORGAN HIRED OFF-DUTY COPS TO “DETER PROTESTS” IN PENNSYLVANIA

  • Kinder Morgan, the self-proclaimed “largest energy infrastructure company in North America,” paid $50,000 for off-duty police officers from a Pennsylvania department to patrol a controversial gas pipeline construction site. The hiring came after a request from the corporation for uniformed officers that could “deter protests and prevent delays,” 
  • What’s unique about the case is not that a corporation paid off-duty officers to protect oil and gas infrastructure — a common but rarely acknowledged practice — but that a document indicates that the explicit purpose of the police presence was to stymie dissent.
  • Federman published a May 2013 letter from Kinder Morgan’s manager of corporate security to the police chief of the Eastern Pike Regional Police Department, requesting use of its officers “to provide a visible presence in our construction areas to create a deterrent effect.”

Source: firstlook.org/theintercept