Google+ Badge

Wednesday, July 15, 2015

Vampire Banks Will Suck Greece Dry

Leaving behind a pile of uninhabitable rocks in the Mediterranean; "quantitative easing" nothing more than a bogus code word for outright theft    

THE 4TH MEDIA
By Jonathan Cook
07/13/2015

Former Greek finance minister Yanis Varoufakis offers a clear explanation of what the euro-elites have been really up to in enforcing endless austerity on Greece.


The popular line that Greeks need to pay the price for their years of profligacy and learn fiscal discipline is, as Varoufakis observes, cover for the euro-elites’ efforts to force European tax-payers to bail out yet again the recklessness of their nation’s banks. That is why the “debt relief” for Greece is helping the banks rather than ordinary Greeks.

After the 2008 financial crash, the banks had to be saved from their reckless lending to individuals through deeply unpopular bail-outs (so-called QE, or “quantitative easing”).


Now that the banks are exposed to the debts caused by their equally reckless lending to whole nations, led by Greece but also including Spain, Portugal, Ireland and others, they need another massive bailout.




But rightly that won’t wash with European taxpayers, so the euro-elites have distracted us with the idea that only through austerity can Greece be rehabilitated and fixed.

The problem, however, is that the financial sector is what really needs restructuring and rehabilitating.


Attack of the ECB Vampire Squid

It has been simply buying time since the 2008 crash to keep on with its profoundly self-destructive practices, destroying not only individual families’ lives but whole nations, while a tiny elite suck out their wealth like besuited vampires.

This pain is not going to stop for Greece – in fact it is going to keep spreading to other nations – until wholesale finance reform is taken seriously.




This news bureau contains copyrighted material the use of which has not always been specifically authorized by the copyright owner. We are making such material available in our efforts to advance understanding of environmental, political, human rights, economic, democracy, scientific, and social justice issues, etc.  We believe this constitutes a 'fair use' of any such copyrighted material as provided for in section 107 of the US Copyright Law. In accordance with Title 17 U.S.C. Section 107, the material on this site is distributed without profit to those who have expressed a prior interest in receiving the included information for research and educational purposes.

HISTORY : Greek PM Says "Forget About Third Bailout"

Tsipras deceived the Greek public  

RT
02/27/2015

Greece won’t be seeking a third international bailout after the four-month extension of its current program expires, Greek Prime Minister Alexis Tsipras said.


In a televised speech to his government, Tsipras also said the country has requested a reduction of its debt, despite European creditors demanding that Greece pay it in full.

"Some have bet on a third bailout, on the possibility of a third bailout in June. I'm very sorry but once again we will disappoint them," the PM declared, adding that “the Greek people put an end to bailouts with their vote."

"Let them forget a third bailout,” the leftist politician who won the election in January, concluded.


Greece has received two bailouts worth $240 million from the EU and the International Monetary Fund since its economy went into recession in the late 2000s.

Tsipras and his government were forced to back down on some of their key campaign promises to negotiate an extension of the bailout – which they initially planned to ditch – with eurozone finance ministers a week ago.




With tax revenues falling and Greece still being barred from international debt markets, Athens would have been unable to pay the bailout, which was due to expire on Saturday.

Tsipras still praised the extension deal with the Eurogroup, saying that Greece's partners in the EU “were forced to accept something that until yesterday seemed taboo: that the bailouts...were not only socially destructive but also economically inefficient.”


Greeks now know who wears the pants in this dysfunctional family

Thousands of Communist Party supporters protested the agreement with the Eurogroup in Athens on Friday, but the polls revealed that the new leftist government has gained even more support since taking charge.

A total of 47.6 percent of respondents said they would back Tsipras and his Syriza party if elections were held this week, a survey performed by Metron Analysis for Parapolitika newspaper revealed. The figure shows an increase of over 10 percent compared to the last election, of which the left won 36.3 percent of the vote.

The way the new cabinet handled the negotiations with the EU has left more than two in three Greeks satisfied. According to the survey, 76 percent of respondents said they were pleased with the government's overall performance during its first month.



This news bureau contains copyrighted material the use of which has not always been specifically authorized by the copyright owner. We are making such material available in our efforts to advance understanding of environmental, political, human rights, economic, democracy, scientific, and social justice issues, etc.  We believe this constitutes a 'fair use' of any such copyrighted material as provided for in section 107 of the US Copyright Law. In accordance with Title 17 U.S.C. Section 107, the material on this site is distributed without profit to those who have expressed a prior interest in receiving the included information for research and educational purposes.

The Multi-Trillion Dollar Oil Market Swindle

Obama, oil company criminals continue to rape Americans at the pumps even as gas should now be at 50 cents a gallon: "Peak Oil" proven to be a bogus oil company sham  

WASHINGTON'S BLOG
By Len Brecken
07/13/2015

In the past, I documented the overstatements by both the IEA and EIA in 2014 & 2015 in terms of supply, inventory and understatements of demand


Criminal oil company bribe money continues to flow
into Obama's private offshore bank accounts
Others also noticed these distortions and, whether intentional or not, they exist and they are very large in dollar terms. These distortions, which are affecting price through media hype and/or direct/indirect price manipulation, are quite possibly the largest in financial history.

Putting numbers behind it, with worldwide production running some 95 million barrels per day, and assuming $55 per barrel for oil, the market for crude oil is about $5.2 billion per day. Each $10/Barrel change is worth nearly $1 billion/day or $365 Billion/year for the worldwide crude oil market. 


Add the worldwide equity market caps of oil and oil related equities and debt you have a scandal that is in the trillions; a number that cannot be ignored.


According to Cornerstone Analytics, who have documented the IEA systematically underestimating demand in 2012-2013 only to revise it higher quarters if not years later, the EIA has created the appearance of an imbalance of supply by some 500 million barrels or $2.5 trillion in the last 5 quarters alone. This has easily swung oil by at least $20/barrel if not more.


I have maintained that oil should have corrected to around $70 in the fall of 2014, tied to U.S. production increases which at the time represented the price at which drillers would continue to add to supply. That price tied to cost reductions has probably been reduced to $60ish currently. But today, with the consensus oversupply widely quoted in the media as some 2 million barrels per day worldwide, it’s clear that if the numbers are correct below, the perceived oversupply wouldn’t exist at all. 


Suffice it to say prices would be at least at the point where production would need to be added, perhaps around $60-$70 per barrel, if not higher.

Assuming that number at $70 and with the blended average of WTI & Brent at $55/Barrel approximately, at $15/Barrel given the 95 million barrels of global production, then we can estimate that global oil markets are being undervalued by about $1.425 billion per day or over $500 billion per year.


The joke is on Americans
Furthermore, I don’t even take into account whether oil futures are being manipulated (much like FX, GOLD, LIBOR – all have been either accused of or been caught in rigging scandals) along with every other commodity as a result of oil’s collapse and its financial impact.

Why regulators, and especially the media, refuse to address this, even in theory, and instead choose to perpetuate the falsehood of oversupply is beyond me. 


In the last two months, E&P equities fell 10 weeks in a row, which hasn’t happened since 1989.

To answer our own question on why this entire event is being largely ignored, maybe that oil is thought to spur higher economic growth as suggested previously. 




But so far that has yet to even materialize as U.S. GDP growth has actually slowed, not accelerated.

Only time will tell whether this exaggerated move in oil, as well as its volatility, is justified or not.




As reported here, the EIA has already revised lower, though only slightly, its prior month’s production forecast as we predicted. Look for more of this to come.




This news bureau contains copyrighted material the use of which has not always been specifically authorized by the copyright owner. We are making such material available in our efforts to advance understanding of environmental, political, human rights, economic, democracy, scientific, and social justice issues, etc.  We believe this constitutes a 'fair use' of any such copyrighted material as provided for in section 107 of the US Copyright Law. In accordance with Title 17 U.S.C. Section 107, the material on this site is distributed without profit to those who have expressed a prior interest in receiving the included information for research and educational purposes.

Germany Talks Tough As EU Prepares To Dismember Greece

EU, IMF vultures circle the Greek carcass preparing to tear it to pieces and sell it off at fire sale prices; "privatisation" pawn shop opens for business: "haircuts" nothing more than a code word for rape of pensioners by EU banksters that have turned the country into a gigantic money laundering operation  

REUTERS
By Renee Maltezou and Jan Strupczewski
07/15/2015

ATHENS/BRUSSELS - 

A secret International Monetary Fund study showed Greece needs far more debt relief than European governments have been willing to contemplate so far, as Germany heaped pressure on Athens on Tuesday to reform and win back its partners' trust. 


The IMF's stark warning on Athens' debt was leaked as Greek Prime Minister Alexis Tsipras struggled to persuade deeply unhappy leftist lawmakers to vote for a package of austerity measures and liberal economic reforms to secure a new bailout.

The study, seen by Reuters, said European countries would have to give Greece a 30-year grace period on servicing all its European debt, including new loans, and a dramatic maturity extension. 


Or else they must make annual transfers to the Greek budget or accept "deep upfront haircuts" on existing loans.

The Debt Sustainability Analysis is likely to sharpen fierce debate in Germany about whether to lend Greece yet more money, while it will be seen by many in Greece as a vindication of the government's plea for sweeping debt relief. A Greek newspaper called the report a slap in the face for Berlin. 

German Finance Minister Wolfgang Schaeuble made clear in Brussels on Tuesday that some members of the Berlin government think it would make more sense for Athens to leave the euro zone temporarily rather than take another bailout.

The Greek Finance Ministry said it had submitted the legislation required by a deal Tsipras reached with euro zone partners on Monday to parliament for a vote on Wednesday.


Der Fuhrer Merkel and Deputy Juncker implement the "Final Solution" to the Greek problem

Assuming Athens fulfils its end of the bargain this week by enacting a swathe of painful measures, the German parliament is due to meet in a special session on Friday to debate whether to authorize the government to open new loan negotiations. 

"The dramatic deterioration in debt sustainability points to the need for debt relief on a scale that would need to go well beyond what has been under consideration to date - and what has been proposed by the ESM," the IMF said, referring to the European Stability Mechanism bailout fund.

An EU source said euro zone finance ministers and leaders had been aware of the confidential IMF figures when they agreed on Monday on a roadmap to a third bailout.


German Nazi Finance Minister gains renewed attention

IMF Managing-Director Christine Lagarde was present but the IMF did not make the updated assessment public, in contrast to a previous study which was released in Washington on July 2.

PURGE AFTER VOTE?

Lawmakers from Greece's ruling Syriza party and their allies argued behind closed doors about whether to back sweeping reforms the government must ram through parliament as it races to meet the terms of the unpopular bailout deal.

Having staved off financial meltdown, Tsipras has until Wednesday night to pass measures tougher than those rejected in a referendum days ago. With mutiny among hardliners in his own ranks, Tsipras will likely need the support of pro-European opposition parties to carry the vote.


Greek parliament may refuse to implement agreement signed by Tsipras

A Greek government official ruled out the possibility that Tsipras might resign, adding that the prime minister would probably purge the cabinet after the parliament vote.

Syriza and its right-wing nationalist junior coalition ally held separate meetings to prepare for parliament sittings to pass the laws, which include plans for tax hikes, pension reforms and tighter supervision of the government's finances.

It was a spectacular turnaround for a Syriza party voted into power in January promising to end years of cuts and recession in a country where one in four people is unemployed.


Nazi Schaeuble demonstrates his contempt for Greek people

In Germany, the biggest contributor to euro zone bailouts, doubts linger about whether Tsipras will stick to his word.

"There are many people, including in the federal government, who are quite convinced that in the interests of Greece and the Greek people that what we wrote down would have been much the better solution," Schaeuble said when asked about a German proposal on a "time-out" for Greece from the euro zone.

GORDIAN KNOT

Comparing the challenge facing the government to the Gordian Knot of mythology that was impossible to untie, Interior Minister Nikos Voutsis was nevertheless confident that Tsipras could muster enough votes in parliament.

The Syriza party's junior coalition partner promised support, with the ambiguous caveat that it would only vote for bailout measures agreed before last weekend's summit in Brussels, which were less stringent. Opponents of the new measures plan strikes and protests in the coming days.

"I've taken the decision, this is a tough third bailout and I will not vote for it," Despoina Charalambidou, a deputy parliament speaker and Syriza lawmaker, told Vima FM radio. 

"Why should I resign? I was elected on the basis of a certain manifesto, the Syriza program, which support these positions. I'm not giving up my seat."

Another obstacle could be parliamentary speaker Zoe Constantopoulou, who is key to the logistics of the vote and has been one of the creditors' most ferocious critics. Tsipras could try to force her out through a no-confidence vote but that would eat up precious time and political capital for the reform bills.


CNN fraud druggie Richard Quest serves up yet more shit pie to Greeks

"The government finds itself in quicksand after the deal with creditors," the center-right Kathimerini newspaper said.

"Mr. Tsipras needs to solve a difficult equation as dissenters on Wednesday's vote may reach or exceed 40," it said. Tsipras needs 151 of 300 lawmakers to pass the reforms and with the votes of his own party and allies theoretically has 162.

Bank of England Governor Mark Carney also drew on Greek mythology to underscore the scale of the challenge, saying it needs a "Herculean" effort from all sides for the deal to work. 

Austria's Chancellor Werner Faymann said a "Grexit" could not be ruled out despite the agreement, echoing findings by a Reuters poll of 60 economists, some of whom saw at least a 50 percent chance of Greece leaving the currency.

The poll, which was carried out in the 24 hours after news of the agreement broke, also pointed to scepticism about whether the deal was good for both Greece and Europe, and whether Greece had enough assets to sell to meet the terms of the deal. 

Euro zone finance officials must find a way to give Greece bridge financing to keep the country afloat while the third bailout package is negotiated, especially to pay back loans owed to the European Central Bank next week.

There has been a mounting anger at both the government and creditors as many Greeks decry what they see as the humiliation of their country being treated like a European colony. 

"With this deal, the public mandate and the proud 'No' of the Greek people in the referendum is canceled," said Energy minister Panagiotis Lafazanis, another of the leftist hardliners whom Tsipras must sidestep to implement the reforms.


Sensing that the sellout agreement may once more be in question and their payday from the selloff of Greek assets in jeopardy, CNN pro-IMF, ECB, Merkel Nazi terrorists now pretend that nothing is amiss with "agreement" while ignoring anti-bailout protests in Athens and Greek parliament member revolt

"The dilemma posed by the creditors, truce or destruction, is fake and terroristic and has been demolished in the public conscience," he said.

The pain for Greece continues, with bank closures and strict controls on withdrawals from cash machines squeezing businesses dry. A Greek trade federation called on the government to loosen such capital controls to allow companies to make payments owed to overseas vendors, while pharmacists warned they faced difficulties securing supplies.

Reporting by Renee Maltezou, Angeliki Koutantou, George Georgiopoulos, Lefteris Karagiannopoulos, Dina Kyriakidou, Costas Pitas in ATHENS; Alastair Macdonald, Francesco Guarascio and Robert-Jan Bartunek in BRUSSELS; William James in LONDON; Angelika Gruber in VIENNA; Sumanta Dey; writing by Matthias Williams; Editing by Sonya Hepinstall, Anna Willard and Paul Taylor.




This news bureau contains copyrighted material the use of which has not always been specifically authorized by the copyright owner. We are making such material available in our efforts to advance understanding of environmental, political, human rights, economic, democracy, scientific, and social justice issues, etc.  We believe this constitutes a 'fair use' of any such copyrighted material as provided for in section 107 of the US Copyright Law. In accordance with Title 17 U.S.C. Section 107, the material on this site is distributed without profit to those who have expressed a prior interest in receiving the included information for research and educational purposes.

-------------------------------------------------------------------------------------------------------------------

ANDREW KREIG: EXPERTS REJECT FIRE AS CAUSE FOR 9/11 WTC COLLAPSES

The real truth on 9/11 slowly continues to bleed out

 photo
Technical experts are mounting major challenges to official U.S. government accounts of how three World Trade Center skyscrapers collapsed in near-freefall after the 9/11 attacks 15 years ago.

Many researchers are focusing especially on the little-known collapse of

READ MORE >>

-------------------------------------------------------------------------------------------------------------------

The Geopolitics Of The United States, Part 1: The Inevitable Empire

The Empire and the inevitable fall of the Obama criminal regime

 photo
STRATFOR Editor’s Note: This installment on the United States, presented in two parts, is the 16th in a series of STRATFOR monographs on the geopolitics of countries influential in world affairs.

Like nearly all of the peoples of North and South America, most Americans are not originally from the territory that became the United States.

READ MORE >>

-------------------------------------------------------------------------------------------------------------------

Geopolitics Of The United States Part 2: American Identity And The Threats of Tomorrow

A look back at 2011 predictions for the future in order to put events of today into perspective

 photo capitalism_zpsah78uy5p.jpg
We have already discussed in the first part of this analysis how the American geography dooms whoever controls the territory to being a global power, but there are a number of other outcomes that shape what that power will be like. The first and most critical is the impact of that geography on the American mindset.

READ MORE >>

-------------------------------------------------------------------------------------------------------------------


By Robert S. Finnegan

This e-mail outlines and confirms the acts of espionage against Indonesia and Indonesians by Akiko Makino and the others involved both in Kobe University and in AI Lab at University of Airlangga, Surabaya; Bahasa Indonesia original follows English translation...

READ MORE >>

-------------------------------------------------------------------------------------------------------------------

UPDATED 01/07/2015 : New Analysis Challenges Tamiflu Efficacy; Hong Kong Corona Virus Outbreak

UPDATED 01/07/2015 : FOX NEWS CORPORATE PHARMA SHILL MEGAN KELLY AND FOX NEWS QUACK DOCTOR NOW PUSHING TAMIFLU FOR PREGNANT WOMEN AND CHILDREN;

 photo TAMIFLU_small_zpssojx6okt.jpg
THE 5TH ESTATE UNEQUIVOCALLY WARNS THE PUBLIC NOT TO TAKE OR GIVE THIS PROVEN DANGEROUS, INEFFECTIVE DRUG TO ANYONE

Obama criminals now resulting to biowarfare in quest to destroy Chinese and ASEAN economy; "novel virus substrain" points directly to a Kawaoka / Fouchier / Ernala-Ginting Kobe lab virus weaponized and genetically altered to specifically target and infect the Asian population: Ribavirin...

READ MORE >>

-------------------------------------------------------------------------------------------------------------------


 photo WHO02_zpsplmhtlpr.jpg
The 5th Estate has just purchased a library on H5N1 "Novel" virus pandemics, there are dozens of PDF and Exel documents we feel will assist you in saving lives following intentional releases of the H5N1 and now MERS viruses; we will begin by printing those that appear to be extremely relevant here: H5N1 Kobe-Kawaoka-Ernala series continues soon with more "Smoking Gun" e-mails from Teridah Ernala to The 5th Estate . . .

READ MORE >>

-------------------------------------------------------------------------------------------------------------------


By Robert S. Finnegan

On October 12, 2002 the Indonesian island of Bali experienced a terrorist attack that rocked the world. It was unquestionably well-coordinated and executed, the largest in the country's history.

READ MORE >>