The Economic Collapse Is Starting To Surface In U.S. Cities – Episode 636

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Economic Collapse In US Big Cities
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Greece wants its money back from WWII. The Greek government is meeting with Russia. The banks and wall street already prepared for the Greek exit, they will just ignore the credit default swaps. The American poor spend 60% of their money on housing and food. Baltimore is the next city that is hit with the economic collapse, the city threatens to turn off water. Turkey, Iran, Vietnam doing business bypassing the dollar. Ukraine is trying to get the South Eastern people to surrender, if not war is on the way. Ukraine move heavy weapons to contact line. Yemen people capture the airport and ports. DC hit with an explosion knocks out all power.

Please check the Sentinel Alerts for the latest news on the economic collapse. The Sentinel Alerts are updated throughout the day. If you haven’t already, go to “The People” and join the community of people who are helping each through the economic collapse.


Current News – 04.07.2015


Economy

Greece demands €278bn WWII reparations from Germany – more than its debt to EU

  • Germany owes Greece no less than €278.7 billion in World War II reparations, Athens said, referring to the destruction wrought upon the nation during the Nazi occupation. The sum exceeds Greece’s total debt of €240 billion to the EU.

Source: rt.com

Russia To Offer Greece New Loans, Gas Price Discount

  • “when Alexis Tsipras visits Vladimir Putin’s Kremlin on Wednesday there is a chance the Greek premier’s eastern manoeuvre will immediately bear fruit: kiwis, peaches and strawberries to be precise. Athens is hopeful that Moscow will lift a retaliatory ban on Greek soft fruits to demonstrate the abiding strength of Russo-Greek relations,  

Source: zerohedge.com

How Wall Street is gaming the Greek bailout.

  •  Credit-default swaps involving Greek debt—the same kind of financial instruments that triggered the 2008 disaster
  • As the negotiations over the write-down of Greek debt unfolded, one of the critical questions that seemed to be hovering over the markets was: Who bought credit-default swaps on Greek debt, and who would owe big sums to cover the CDS obligations if there were a default. . A special committee that governs credit-default swaps got together and said: The Greek bailout—a write down of 50 percent of the value of Greek debt—is voluntary and thus does not trigger the contractual terms of credit-default swaps. That means the companies that sold the CDSes will not have to cover the losses they had insured—the decline in value of the Greek bonds. Who votes on this committee?  This will shock you: the very banks that issue, and often purchase, the CDS’s at issue: Goldman, JPMorgan Chase, Citibank, UBS. No government entity at all.

Source: slate.com

Over Half of UK Aged 20 to 45 Consider Home Ownership Unattainable

  • More than half of UK people between the ages of 20 to 45 are currently not saving money to buy a home, the Halifax Bank’s Generation Rent 2015 report said Tuesday.
  • Some 57 percent of those polled for the banking chain said they were not saving to own their own home,
  • The main reason to give up the hope of owning one’s own home is the size of the deposit,  High property prices and low income gathered 56 and 53 percent respectively.
  • Over 80 percent of people between the age of 20 and 45 living in London say they will never be able to buy a place to live.

Source: sputniknews.com

Scathing assessment: “The UK economy is a ticking time bomb”

  • Financial Times recently released an utterly scathing assessment of the British economy  entitled, “The UK economy is a ticking time bomb,”
  • “What is the problem? Quite simply, the key numbers are terrible. According to the OECD, after five years of ‘austerity’ the UK’s budget deficit is 5.3%, down from 11.2% in 2009.
  • “In other words, it has gone from being close to meltdown to a situation that is merely dreadful.
  • “Since the government is spending more than it earns, it is hardly surprising that it is borrowing more, and that the debt-to-GDP has risen from 68.95% in 2009 to 93.30% in 2013, according to OECD figures.

Source: sovereignman.com

America’s Poor Spend 60% Of Their Income On Food & Housing Proving CPI Is Meaningless

  • For many Americans, the rise in food and housing prices is a tough squeeze. That’s because—even in an era with low overall inflation—low-income Americans spend a disproportionate share of their money on food and housing.
  • New data from the Labor Department show the extent of the discrepancy. The bottom 10% of Americans, by income, devote 42% of their spending to housing and an additional 17% to food–nearly 60% of their total spending, according to the Consumer Expenditures Survey. By contrast, the wealthiest 10% of Americans dedicate only 31% of their spending to housing and 11% to food–closer to 40% of total spending…
  • This underscores one reason that inflation feels different household to household: People spend their money in such different ways. A parent with children in college or daycare might scoff at the notion that inflation has been low for the last five years. Conversely, someone with no car payment and no mortgage but who does a lot of driving may be feeling flush from the plunge in gas prices.

Source: zerohedge.com

Viacom announces layoffs, $785M in expenses
GeminiCares Inc – 700

Baltic Dry Index falls to 583, down 5

Tapped out: Baltimore threatens water cuts to 25,000 customers over unpaid bills

  • Seemingly following in the footsteps of Detroit, Baltimore city administrators have given customers 10 days to pay their overdue water bills or face loss of water service.

Source: rt.com

21 Days: Treasury Says Debt Has Been Frozen at $18,112,975,000,000

IMF Report Offers Gloomy Outlook For Growth

  • Economic growth may be disappointing for both developed and emerging economies for the next few years, according to a study published Tuesday by the International Monetary Fund.

Source: voanews.com

Turkey, Iran to Switch to Transactions in National Currencies – Erdogan

  • Turkey and Iran are planning to switch to transactions in their national currencies, Turkish President Recep Tayyip Erdogan said Tuesday
  • “We do not wish to remain under the pressure of the dollar or the euro, or under the influence of their exchange rates. We have agreed that Turkish and Iranian national currencies are to be used between us. This will add extra strength to our countries,” Erdogan said.

Source: sputniknews.com

Time for Russia & Vietnam to think of switching to local currencies – Medvedev

  • Russia and Vietnam should start using their domestic currencies in bilateral trade more actively , Russian Prime Minister  has said.

Source: rt.com

Yuan can quickly displace US dollar to become world’s No. 1 reserve currency

  • According to US Treasury Secretary Jack Lew, the Chinese yuan is not yet ready to be included in the basket of reserve currencies of the IMF. According to the US official, China should pursue further reforms to meet the requirements of international norms.
  •  Germany and France had supported the idea of making the yuan a reserve currency of the IMF. Even IMF managing director Christine Lagarde said that such a decision was only a matter of time.
  • a currency that is used as a settlement currency, in which people keep their savings, it automatically becomes a reserve currency without any formal inclusion elsewhere, including the IMF list. If the yuan starts to displace the dollar, the dollar sphere will diminish, and dollar supplies will turn out to be excessive. As a result, the dollar rate will start to fall,”

Source:  english.pravda.ru


Rights

The Whitehouse’s New Executive Order On Cyber Crime is (Unfortunately) No Joke

  • On the morning of April 1st, the Whitehouse issued a newexecutive order (EO) that asserts that malicious “cyber-enabled activities” are a national threat, declares a national emergency, and establishes sanctions and other consequences for individuals and entities . Section 1(ii)(B), allows the Secretary of the Treasury, “in consultation with” the Attorney General and Secretary of State, to make a determination that an person or entity has “materially … provided … technological support for, or goods or services in support of any” of these malicious attacks.To make matters worse, while most of the provisions specify that they apply to activity taking place outside of or mostly outside of the US, Section 1(ii)(B) has no such limitation. We have concerns about how the order applies to everyone. But this section also brings up constitutional due process concerns. That is, if it were to apply to people protected by the U.S. Constitution, it could violate the Fifth Amendment right to due process.

Source: activistpost.com


War

  •  Armenia wants to coordinate its foreign policy with Russia,

Source: tass.ru

Why Ukraine Civil War Continues: Kiev Will Only Accept Rebel Surrender

  • East Ukraine is in no mood to accept unconditional surrender, but that is all the government in Kiev is actually offering – despite promising something else in Minsk
  • Yesterday, the leadership of the Donetsk People’s Republic (DPR) demanded that their representatives finally be included in the discussion of constitutional reform. “All matters relating to elections and constitutional reform, according to the terms of the agreement, should be agreed with us. As prescribed by the terms of the agreement, representatives of the DPR and LPR will necessarily participate in the decision-making
  • Kiev is seeking to prevent the move to political dialogue by imposing unacceptable and inappropriate conditions, which contradict the Minsk-2 Agreement.
  • One such condition, of course, is holding local elections in the “special territories” under the existing laws of Ukraine.
  • There is another important factor in the failure of the agreement. United States decides internal conflicts of the Ukrainian authorities.

Source: russia-insider.com

Kiev Threatens to Blacklist World Leaders Heading to Moscow for Victory Day

  • Ukrainian Foreign Ministry spokesman  told reporters on Tuesday that Ukraine will not be sending any representatives to Moscow in May to celebrate victory, noting that “under conditions of Russian aggression against Ukraine, there can be no participation of Ukrainian representatives in events in Moscow.”
  • The Ministry spokesman noted that “in view of Russian aggression against Ukraine,” the participation of representatives of other countries “will be considered by Ukraine as a demonstration of solidarity with the aggressor.”

Source: sputniknews.com

Ukrainian forces moving new heavy weaponry to buffer zone in Donbas — OSCE

  • Observers from the Organization for Security and Cooperation in Europe (OSCE) have reported that Ukrainian forces are moving new heavy weaponry to the buffer zone in eastern Ukraine,
  • SMM listed four 100-mm anti-tank guns and four MTLB armored tractors
  • The OSCE monitors said not all heavy weapons subject to pullout had been completely withdrawn from the buffer zone. Thus, according to the report, the SMM “observed three T64 tanks ,” Two more T-64 tanks were seen moving “east towards the line of contact,” the monitors said.

Source: tass.ru

Spain to Extend US Military Presence at Southern Air Base

  • The government of Spain will authorize the presence of a US Marine Corps contingent at an air base in the south of the country for a third consecutive yearSpain extended the agreement by one year and agreed to increase the total number of US soldiers to 850.
  • Madrid and Washington have been in talks over the US request for a permanent Marine presence at the Moron base with a maximum number of 3500 soldiers. As of now 66,000 US soldiers are currently deployed in European countries.

Source: sputniknews.com

US to Base 60% of Military Fleet in Pacific-Indian Ocean Area

  • The United States plans to locate in the future 60 percent of its military fleet in the Pacific-Indian Ocean area,
  • “The newest and most capable weapons systems will go first to the [Asia-Pacific] region.
  • On Monday, Carter begins his trip to Japan and South Korea to promote and strengthen defense relations with the countries. In May 2015, Carter will also visit Singapore and India to enhance their military partnership,

Source: sputniknews.com

Senate to ‘Respond Legislatively’ With Vote on Iran Bill – Majority Leader

  • On April 2, 2015, the P5+1 group of countries, including the United States, France, Russia, China and the United Kingdom plus Germany, reached a political framework agreement with Iran
  • The US Senate will vote on legislation that seeks to ensure lawmakers will have a say before a final agreement is reached with Iran on its nuclear program in June 2015

Source: sputniknews.com

Iran’s recognition of Israel can’t be part of nuclear deal – Obama snubs Netanyahu

China calls for ceasefire in Yemen — foreign ministry

  • “We call on all sides to cease fire as soon as possible in order to avoid more casualties among civilians. China also hopes that all sides will implement the relevant resolutions of UN Security Council and initiatives of the Cooperation Council for the Arab States of the Gulf, and solve the crisis by political dialogue, restore internal stability and legal order in Yemen in the short term,” 

Source:  tass.ru

Coalition Planes Drop Arms for Pro-Hadi Forces in Yemen’s South

  • The planes of Saudi-led coalition forces in Yemen have delivered weapons to supporters of Yemeni President

Source: sputniknews.com

Saudi-Led Coalition Airstrikes Destroy Oil Storage Facility Near Sanaa

  • The Saudi-led coalition’s aircraft launched airstrikes on oil storage tanks located west to Yemen’s capital Sanaa
  • The airstrikes on the oil tanks, belonging to a Yemeni state oil company
  • Oil storage in al-Sabbah was used to deal with any shortage of crude oil that may arise on the domestic market. The attacked oil storage had 16 reservoirs, eight with gasoline and others with diesel fuel.

Source: sputniknews.com

Houthi rebels seize sea port and airport in Yemen’s Aden

  • Houthi rebels in Yemen have seized the port and international airport in Aden,

Source: itar-tass.com

Red Cross’ first plane with humanitarian aid arrives in Yemen

  • The International Committee of the Red Cross (ICRC) first plane with humanitarian aid has landed in Yemen’s capital Sanaa,
  • Earlier, ICRC received permission from the international coalition led by Saudi Arabia to send two planes to Yemen. The first plane was planned to arrive on Monday, but ICRC representatives said “logistics problems” delayed the airliner.

Source: itar-tass.com

Saudis seek troops from Pakistan ahead of possible Yemen invasion

  • Pakistan’s defence minister told Parliament on Monday that Saudi Arabia had asked Pakistan for aircraft, warships and soldiers to join its offensive against the Houthis, this is signaling Saudi plans to expand its war there.

Source: afr.com

US speeding up arms shipments for Yemen fight

  • The U.S. is expediting arms deliveries to the Saudi-led coalition that is battling the people  in Yemen,
  • Pentagon spokesman Col. Steve Warren confirmed the U.S. is supplying its Arab allies as the fight in Yemen rages.
  • Other U.S. military officials were not immediately able to provide a list of the items being delivered.

Source: stripes.com

Obama has approved more arms sales (over $169 billion) than any U.S. administration since World War II


False Flags

‘Stay alert for the coming’: Islamists hack British govt website

  • Hackers calling themselves the Moroccan Islamic Union-Mail (MIUM) have launched an audacious cyberattack on the Department of Food, the Environment and Rural Affairs (DEFRA), hijacking its air quality page.
  • At around 7 a.m. Tuesday morning it became apparent that someone had replaced the existing page with a photo of late Iraqi despot Saddam Hussein and a garbled warning: “It’s time to remind the British government what you did with Saddam Hussein will not forget. And we are ready to sacrifice with everything, as not to give up Iraq and stay alert for the coming.

Source: rt.com

Official says explosion at power plant responsible for widespread power outages across DC.