Greek Stocks, Economy Collapse, Suffer Worst Declines In History


Tyler Durden's picture

The Athens Stock Exchange reopened on Monday and unsurprisingly, some folks were selling.

Trading was suspended five weeks ago after PM Alexis Tsipras’ dramatic midnight referendum call precipitated capital controls and a lengthy bank “holiday.” Shares opened lower by nearly 23% and the country’s banks traded limit-down, which makes sense because they are, after all, largely insolvent. Here’s NY Times:

The Athens Stock Exchange plunged 22.8 percent when it reopened on Monday after a five-week shutdown imposed by Greek authorities as part of efforts to prevent a financial collapse.

Bank stocks, which are particularly vulnerable as Greek lenders are set for new recapitalization in the coming months, took a battering, falling by as much as 30 percent.

Although foreign investors face no restrictions in the Athens exchange, local traders can only use existing cash holdings to buy shares; they are prohibited from tapping local bank deposits to buy shares as the authorities seek to prevent capital flight.

Asked about the harrowing decline, European Commission spokeswoman Mina Andreeva had no comment but did say that Brussels has “taken note” of the reopening. Amusingly, she also said the decision was made by “competent” Greek officials. A ban on short-selling was due to expire on Monday but will be extended, an unnamed official told Reuters.

Meanwhile, monthly PMI data from Markit confirmed that the Greek economy suffered an outright collapse in July. Last month marked the 11th consecutive month of contraction, but it was the depth of the downturn that was truly shocking as the index plummeted to 30.2 from 46.9 in June. It was the lowest print on record. New orders plunged to 17.9 from 43.2.

“July saw factory production in Greece contract sharply amid an unprecedented drop in new orders and difficulties in purchasing raw materials,” Markit said. Here’s more from the report:

Record contractions were registered for almost all variables monitored by the survey, including output, new orders, employment and stocks. 

The drop in output in July was led by the capital goods sector, while there were also sharp contractions in the production of intermediate and consumer goods. The latest decrease in output was the seventh in successive months.

July’s sharp decrease in the level of new business at manufacturers surpassed the previous record set in February 2012. Panel members commented on the impact of capital controls on demand, and also cited a generally uncertain operating environment which further weighed on sales. A sharp and accelerated decrease in new export orders (also a series record) added to the overall reduction in new work. 

Manufacturers’ buying levels decreased to the greatest extent in the survey’s history in July. Panel member reports indicated that companies commonly faced difficulties sourcing inputs due to capital restrictions and the limited availability of some items. Accordingly, stocks of purchases contracted sharply on the month, as did postproduction inventories. 

The troubles goods producers had in obtaining inputs was further highlighted by a marked increase in average supplier delivery times. The degree of deterioration in vendor performance was by far the most pronounced in the series history. Panellists mentioned in particular the difficulty in receiving items from abroad. 

July’s survey signalled the steepest drop in factory employment ever recorded during the 16-plus years of data collection. 

Note that the commentary here underscores what we’ve been warning about since the imposition of capital controls; namely that an acute credit crunch would eventually lead to a shortage of imported goods.

The data is also emblematic of the sheer desperation that’s taken hold. “Although manufacturing represents only a small proportion of Greece’s total productive output, the sheer magnitude of the downturn sends a worrying signal for the health of the economy as a whole,” Markit’s Phil Smith said.

Yes it most certainly does, and indeed, as we noted last week, there may be no modern economy left in Greece by the time this is all over as many Greeks have already reverted to the barter system in an effort to grease the wheels of commerce and skirt the frozen banking system.

So in sum, a complete and total disaster on all fronts to start the week. And because this is Greece we’re talking about, we’ll give the last word here to Socrates:

Via Bloomberg and ForexLive:

Share price falls seen after open are logical given 5-week close Athens Stock Exchange CEO Socrates Lazaridis says in Bloomberg TV interview with Hans Nichols.

ASE doesn’t expect at this point in time any companies to express wish to move listing from Greek exchange.

Expects some shares to bounce tomorrow.

http://www.zerohedge.com/news/2015-08-03/greek-stocks-economy-collapse-suffer-worst-declines-history

Why The U.S. Is the Next Greece: Doug Casey On America’s Economic Problems


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“With these stupid governments printing trillions and trillions of new currency units,” warns investor Doug Casey, “it’s building up to a catastrophe of historic proportions.” In an excellent brief interview with Reason magazine Editor-in-Chief Matt Welch, Casey expounds on the US noting that “as any institution gets larger and older it inevitably becomes corrupt and fails.” What to do? “I wouldn’t keep significant capital in banks,” he exclaimed, “most of the banks in the world are bankrupt. That didn’t stop the “brain dead” Greeks who left their money in banks as all the signs were on the wall, he notes as he addresses whether gold is a good investment in 2015, and offers back-handed bright side: Catastrophes create many opportunities to earn a profit.

 

Comex On The Edge? Paper Gold “Dilution” Hits A Record 124 For Every Ounce Of Physical


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Over the few days, we got what was merely the latest confirmation that when it comes to sliding gold prices, consumers of physical gold just can’t get enough.

As the Times of India reported over the weekend, India’s gold imports shot up by 61% to 155 tonnes in the first two months of the current fiscal year “due to weak prices globally and the easing of restrictions by the Reserve Bank. In April-May of the last fiscal, gold imports had aggregated about 96 tonnes, an official said.”

This follows confirmations previously that with the price of gold sliding, physical demand has been through the roof, case in point: “US Mint Sells Most Physical Gold In Two Years On Same Day Gold Price Hits Five Year Low“, “Gold Bullion Demand Surges – Perth Mint and U.S. Mint Cannot Meet Demand“, “Gold Tumbles Despite UK Mint Seeing Europeans Rush To Buy Bullion” and so on. Indicatively, as of Friday, the US Mint had sold 170,000 ounces of gold bullion in July: the fifth highest on record, and we expect today’s month-end update to push that number even higher.

But while the dislocation between demand for physical and the price of paper gold has been extensively discussed here over the years, most recently in “Gold And The Silver Stand-Off: Is The Selling Of Paper Gold And Silver Finally Ending?”, something unexpected happened at the CME on Friday afternoon which may be the most important observation yet.

Recall that in the middle of 2013, in an extensive series of articles, we covered what was then a complete collapse in Comex vaulted holding of registered (i.e., deliverable) gold.  At the time the culprit was JPM, where for some still unexplained reason, the gold held in the newest Comex’ vault plunged by nearly 2 million ounces in just six short months.

More importantly, the collapse in registered Comex gold sent the gold coverage ratio (the number of ounces of “paper” gold open interest to the ounces of “physical” registered gold) soaring from under 20 where, or roughly in line with its long-term average, to a whopping 112x. This means that there were a total of 112 ounces of claims for every ounces of physical gold that could be delivered at any given moment.

Gradually, the Comex raid was relegated to the backburner when starting in 2014 the amount of registered gold tripled from the upper 300k range to 1.15 million ounces one year ago, at which point the slide in Comex registered gold started anew.

Which brings us to Friday afternoon, also known as month end position squaring, when in the latest daily Comex gold vault depository update we found that while some 270K in Eligible gold had been withdrawn mostly from JPM vaults, what caught our attention was the 25,386 ounces of Registered gold that had been “adjusted” out of registered and into eligible. As a reminder, eligible gold is “gold” that can not be used to satisfy inbound delivery requests without it being converted back to registered gold first, which makes it mostly inert for delivery satisfaction purposes.

 

Most importantly, this 25,386 oz reduction in deliverable Comex gold from 376,906 on Thursday pushed the amount of registered Comex gold to an all time low: at 351,519 ounces, or just barely over 10 tons, registered Comex gold has never been lower!

 

Incidentally, as part of the month-end redemption requests, we saw a whopping 22% of the eligible gold in Kilo-bar format (where there is no registered, just eligible) be quietly whisked away from Brink’s vaults: unlike traditional ounce-based contracts, the kilo format traditionally serves as an indication of Chinese demand, and if withdrawals on par with those seen on July 31 persist, it will soon become clear that Chinese buyers are once again scrambling for the safety of gold now that their stock market bubble has blown up.

This covers the sudden surge in demand for physical gold as manifested by CME data.

Meanwhile, over in “paper gold” land, things remained unchanged: as shown in the chart below, the aggregate gold open interest rose modestly to 43.5 million ounces up from 42.9 million the day before.

 

While on its own, gold open interest – which merely represents the total potential claims on gold if exercised – is hardly exciting, as we have shown previously it has to be observed in conjunction with the physical gold that “backs” such potential delivery requests, also known as the “coverage ratio” of deliverable gold.

It is here that things get a little out of hand, because as the chart below shows, all else equal, the 43.5 million ounces of gold open interest and the record low 351,519 ounces of registered gold imply that as of Friday’s close there was a whopping 123.8 ounces in potential paper claims to every ounces of physical gold.

This is an all time record high, and surpasses the previous period record seen in January 2014 following the JPM gold vault liquidation.

Another way of stating this unprecedented ratio is that the dilution ratio between physical gold and paper gold has hit a record low 0.8%.

Indicatively, the average paper-to-physical coverage ratio since January 1, 2000 is a “modest” 19.1x. As of Friday it had soared to more than 6 times greater.

Which brings us to the usual concluding observations:

First: as we have said previously, at a time when all the gold selling (and naked shorting) is in the paper markets and when demand for physical gold is once again off the charts, with soaring purchases not only in India but also in the US, where is this gold going? Clearly not into CME gold vaults, which are once again a source of physical gold, and as the above shows, have never had less deliverable gold.

Second, total Comex gold has dropped to such precarious levels in the past and while on many occasions market observers have asked if the Comex is close to a failure to deliver, aka a default of the CME’s gold warehouse, it has always avoided such a fate. Still, one wonders: the 10+ tons of deliverable gold at the Comex are now worth a paltry $383 million. It would not be very complicated for a next generation “Hunt Brother” to buy some $400 million in Comex gold, and promptly demand delivery: after all the gold crash of two weeks ago saw some $2.7 billion in paper gold dumped in the most illiquid market – why can’t it be done in reverse. What would happen next is unknown, but unless somehow the Comex found a way of converting millions of ounces of Eligible gold into Registered, the CME would simply be unable to satisfy such a delivery request.

Third: while there are still over 7 million ounces of Eligible gold, why the recent spike in “adjustments” of eligible to registered gold (i.e., missing a warehouse receipt)?

Finally, we assume the mainstream press will once again start paying close attention to the total, and especially registered, gold held at the Comex: at a pace of 25K a day, the gold vaults that make up the CME’s vaulting system would be depleted in just under two weeks of daily withdrawals.

In any case, we are very curious to see how this latest dramatic face off in the long-running war between paper and physical gold, concludes.

http://www.zerohedge.com/news/2015-08-03/comex-edge-deliverable-gold-drops-record-low-124-ounces-paper-every-ounce-physical

Monsanto Herbicide in GMO Crops is Carcinogenic: World Health Organization’s Full Report


While the World Health Organization’s International Agency for Research on Cancer (IARC) is not a regulatory agency, their release of a full report on glyphosate’s ability to cause cancer is making waves throughout the world. Glyphosate is the key component in Monsanto’s Roundup.

There are more than 750 products for sale in the USA alone which contain glyphosate, the main ingredient in Monsanto’s herbicide that has been selling since the 1970s.

The agency is comprised of an international review board which determined that glyphosate is indeed carcinogenic. Considering that more than ‘80% of the biotech-created GM crops’ throughout the world were manufactured to be used with this herbicide – it would logically follow that the majority of our food supply is now contaminated by a cancer-causing agent(s).

Following the release of the report, the country of Sri Lanka decided to ban glyphosate completely, and other countries are considering a similar move. Is this information just too much to swallow for more immediate action to follow, or have governments been infiltrated so completely by biotech that the announcement that most of our food is covered in poison will simply be ignored?

The National Pesticide Information Center has done nothing to update its website to inform citizens that the IARC has declared that this herbicide is carcinogenic.

In fact, they instead post the following, word for word:

“Is glyphosate likely to contribute to the development of cancer?

Animal studies have not shown evidence that glyphosate exposure is linked to cancer. Studies with people have also shown little evidence that exposure to glyphosate products is linked with cancer.”

This is an outrageous lie that should be removed immediately – but it won’t be because we are dealing with an industry which regulates itself. Unless people around the world take massive, grass-roots action, instead of waiting on their governments to respond, Monsanto and the biotech industry will continue to sell known cancer-causing agents.

http://www.globalresearch.ca/monsanto-herbicide-in-gmo-crops-is-carcinogenic-world-health-organizations-full-report/5466690

TPP Ministerial Deadlock.”Good News for People on the Planet”. Worldwide Opposition to Trade Deal


http://www.globalresearch.ca/tpp-ministerial-deadlock-good-news-for-people-on-the-planet-worldwide-opposition-to-trade-deal/5466469

World’s Largest Animal Sacrifice Festival–CANCELLED! ~ TheLipTV


The Gadhimai festival, which is said to be the world’s largest animal sacrifice event has been cancelled after widespread concern over the slaughter of hundreds of thousands of creatures. With animal rights activists protesting the proceedings, which take place at the Gadhimai Temple in Nepal near the Indian border, the festival is on hold as they prepare a potential bloodless alternative to be staged in five years for the next scheduled gathering.
http://time.com/3976234/nepal-gadhima…

Newest Lip News playlist:
https://www.youtube.com/watch?v=eH0bI…

BUZZSAW interview clips:
https://www.youtube.com/watch?v=4cbdB…

CRIME TIME clips playlist:
https://www.youtube.com/watch?v=krB8h…

BYOD (Bring Your Own Doc) Highlight Videos:
https://www.youtube.com/watch?v=JtWTi…

MEDIA MAYHEM short videos playlist:
https://www.youtube.com/watch?v=izk1x…

https://www.facebook.com/thelip.tv

http://www.youtube.com/theliptv

BUZZSAW: 2015 Bilderberg Conference Review: Collapse and False Flags with Daniel Estulin ~ TheLipTV


Nice find Keri! Reblogged from https://followingworldchange.wordpress.com

The 2015 Bilderberg conference is discussed with Daniel Estulin, who explores how the group is facing declining influence and hedging their bets against a global economic collapse. The tools of false flags and unrest that are being employed by the world’s elite, as well as the upcoming documentary on the Bilderbergs, and the possible catastrophic outcomes of the Iran Nuclear deal are explored. Learn about the Tavistock house, the growing power of the BRIC alliance, and if deindustrialization and population control are on the agenda of the elite in this Buzzsaw interview, hosted by Sean Stone.

GUEST BIO:
Daniel Estulin is an award winning investigative journalist and bestselling author of The True Story of the Bilderberg Group, published in 59 countries and translated into 34 languages. He was featured on Jesse Ventura’s Conspiracy Theory television show. He is currently the host of RT TV show, DESDE LA SOMBRA, and has a new documentary on the Bilderberg Group.

I wish I knew this when I ‘Woke Up’ ~ Suspicious0bservers


Published on Apr 5, 2014

Welcome to the Channel: http://youtu.be/Wo3prvrLInE
Our Website: http://www.suspicious0bservers.org
Major Warnings/Alerts: https://twitter.com/TheRealS0s

Chris Martenson “$40 Trillion Lost in Next Crash” ~ USA Watchdog Greg Hunter


Economic researcher Chris Martenson, who also holds an earned PhD in Toxicology, says watch China because the recent signs are not good. Martenson contends, “You get your early signals from the place that is closest to the true economic action, and China is the center of that. So, to me, watching commodities tank first, gyrations in the Chinese stock market second, says third, you better be prepared for a big deflationary event or a big crash. . . . This is the mother of all crashes because the crash of 2008 was actually a side show. . . . We are going to discover that, like all bubbles, you return from where you started. . . . That means $40 trillion will have to get wiped out in the U.S. market alone.”
Economic researcher Chris Martenson, who also holds an earned PhD in Toxicology, says watch China because the recent signs are not good. Martenson contends, “You get your early signals from the place that is closest to the true economic action, and China is the center of that. So, to me, watching commodities tank first, gyrations in the Chinese stock market second, says third, you better be prepared for a big deflationary event or a big crash. . . . This is the mother of all crashes because the crash of 2008 was actually a side show. . . . We are going to discover that, like all bubbles, you return from where you started. . . . That means $40 trillion will have to get wiped out in the U.S. market alone.”

Join Greg Hunter as he goes One-on One with Dr. Chris Martenson of PeakProsperity.com.

All links can be found in the “After the Interview” section of USAWatchdog.com http://usawatchdog.com/vicious-out-of…
Join Greg Hunter as he goes One-on One with Dr. Chris Martenson of PeakProsperity.com.

All links can be found in the “After the Interview” section of USAWatchdog.com http://usawatchdog.com/vicious-out-of…

Former MTV/BET Producer Exposes The Music & TV Industry: Shocking Confessions (Full Video)


openupyourmind101 – D Brad (David K Far-El) exposing the music industry. Revealing the truth on selling your soul to the devil for fame and fortune. Shocking confessions of a BET producer. David Bradley. Psychological & Spirtual War on the Mind. Jamie Foxx, Jay-Z, Oprah Winfrey, Barack Obama.

– Steve Cokely, Bobby Hemmitt

Hysterics! Adult with chicken pox prompted lockdown at Danville, Kentucky hospital


© WKYT

Ephraim McDowell Regional Medical Center in Danville says a patient who tested positive for two strains of adult chicken pox is what prompted a lockdown at the facility Saturday evening.

In a news release, the medical center says it was determined that isolation of the patient was appropriate. Because of the lockdown, other patients and visitors were contained until additional testing could be completed.

To assure that there was no risk to the community, the medical center says it worked closely with local and state health officials and the Center for Disease Control.

CDC Spokeswoman Bernadette Burden confirmed to WKYT the center received a call from the Kentucky State Health Department about the patient on Saturday.

The hospital started releasing patients and staff who did not have direct contact with the patient, out of the emergency room around 7 p.m. Saturday.

Incoming patients were diverted to area hospitals.

See VIDEO

The Greek Crisis – What You’re Not Being Told


Reblogged from FollowingWorldChange.wordpress.com

Published on Jul 7, 2015

There are several important variables to the Greek debt crisis that most people aren’t talking about.
Sources and transcript: htttp://stormcloudsgathering.com/the-gre­ek-crisis-what-youre-not-being-told

Furious Americans Demand Extradition Of Cecil-Killing Dentist As Poachers Kill Lion’s Brother ~ ZeroHedge


Tyler Durden's picture

Update: The status of Cecil’s brother is now the subject of a “dispute” between conservationists.

*  *  *

There’s a lot going on in the world, but you wouldn’t know it if you tuned in to the nightly news because according to the mainstream media, the only thing that happened anywhere last week is that a dentist shot a lion.

(Cecil the lion is the one on the right)

That’s right folks, Walter killed Cecil and some folks – scratch that – a lot of folks are unhappy about it.

In fact, hundreds of protesters papered Dr. Palmer’s office with subtle messages like “rot in hell” and “there’s a deep cavity waiting for you.”

VIDEO:

http://video-api.wsj.com/api-video/player/iframe.html?guid=09503634-A315-494D-A4BC-3E476D2A47C4

As Reuters reports, Cecil’s untimely demise has the potential to put a dent in a lucrative industry by leaving a bad taste in the mouths of big game hunters, who may now hesitate before participating in this “archaic bloodsport”. Here’s more:

Hunters longing to shoot big game in the African wild may choose a different target after public backlash against a Minnesota dentist who killed Zimbabwe’s Cecil the lion just outside a national wildlife preserve.

African hunts are booked months in advance and pricey affairs, often costing $8,000 to $50,000, with approval needed from U.S. and U.N. agencies to bring back trophies such as the head of a lion to the United States.

“It has left a bad taste in their mouths,” said James Jeffrey, a Houston-based international hunting agent with more than 12 years experience.

“They read all those books and it is people’s dreams to go over there and do it. Some of these guys have worked their whole lives to do this one hunt,” he said.

Eleven African countries issue lion hunting permits. Of them South Africa’s hunting industry is the biggest, worth $675 million, according to the Professional Hunters Association.

Americans make up the bulk of non-African hunters, with 15,000 going to the continent on hunting safaris each year, according to John Jackson, president of Conservation Force, a lobby group that says regulated lion hunting helps protect the animal by giving reserve owners a financial incentive to deter poachers and cultivate stock.

Supporters argue the money generated from hunts bolsters the coffers for conservation in emerging African countries that want to use their limited finances for social programs.

Critics see the hunts as an archaic bloodsport, hurting species such as lions, which an academic study in 2012 said had seen a population fall of nearly 70 percent in the last 50 years.

In response to the killing, Zimbabwe has now put a halt to big game hunts pending an investigation. From AP:

Zimbabwean wildlife authorities say they have suspended the hunting of lions, leopards and elephants in an area favoured by hunters following the killing of a lion popular with tourists.

The National Parks and Wildlife Authority said Saturday that bow and arrow hunts have also been suspended unless they are approved by the authority’s director.

The authority says it is also investigating the killing of another lion in April that may have been illegal. It says it only received the information this week.

And don’t expect the controversy to dissipate any time soon because in what is either a deliberate attempt on the part of an enterprising poacher to capitalize off the incident or else an incredibly ill-timed coincidence, Cecil’s brother Jericho was killed today by hunters. Here’s Sky News:

The brother of Cecil the lion, Jericho, has been shot dead by poachers, the Zimbabwe Conservation Task Force has said.

The organisation wrote on Facebook: “It is with huge disgust and sadness that we have just been informed that Jericho, Cecil’s brother, has been killed at 4pm today.

“We are absolutely heart broken.”

It is thought Jericho had been protecting Cecil’s cubs.

And because the story obviously needed to get sadder still, those cubs will now likely die as well.

Via The Daily Mail:

Before his death there had been concerns Jericho would not be able to hold the territory of Cecil’s cubs alone and could be chased away by rival lions. 

Unprotected, the lionesses and cubs are now under threat and [must] move away or be killed.

Last week Mr Rodrigues, told the Daily Mail Online Jericho was keeping the cubs safe from any rival males.

 

(Jericho and Cecil in better times)

As for Palmer, Zimbabwe is looking to have the dentist extradited from the US. “Environment minister Oppah Muchinguri said the dentist should be handed over to Zimbabwean officials to face justice, adding that she understood prosecutors had started the legal process to make that happen,” the Daily Mail notes.

And for anyone who thinks getting Palmer sent back to Zimbabwe will be like pulling teeth (so to speak), the public outcry may end up pressuing The White House into action, because as you can see from the screengrab below, a peitition to have Palmer extradicted has received the necessary number of signatures to warrant a response from The President:

 

 

So in the end, we suppose the only question for Obama will be how to explain the fact that, as we reported on Thursday, the death of Cecil, as well as countless other lions, elephants, rhinos and other animals, is solely as a result of the Zimbabwe government’s corruption. A corruption, which the US government knew all about, and despite the fact that Washington knew US hunters were killing not only elephants but lions, the government’s only real concern was the “serious risks that Americans could be implicated in smuggling and poaching operations.”

http://www.zerohedge.com/news/2015-08-01/furious-americans-demand-extradition-cecil-killing-dentist-poachers-kill-lions-broth

Ed. Note: To add balance to this heartbreaking and polarizing tragedy, it’s my impression Cecil and Dr. Patterson had soul contracts to awaken the human collective to the insanity of trophy hunting, canned safari’s and political corruption in smuggling and poaching operations…Cecil transitioned for the Greater Good of the next Seven Generations. 

On a good note, Jericho’s alive and well!!

Venezuela Increasingly Looks Like A War Zone


Tyler Durden's picture

Over the years, we have repeatedly poked fun at the transformation of Venezuela into a “socialist utopia” – an economy in a state of terminal collapse, where the destruction of the currency (one black market Bolivar is now worth 107 times less than the official currency’s exchange rate) and the resulting hyperinflation is only matched be barren wasteland that local stores have transformed into now that conventional supply chains are irreparably broken.

Just this past Wednesday we showed a clip of what is currently taking place inside Venezuela supermarkets, noting that “the hyperinflationary collapse in Venezuela is reaching its terminal phase. With inflation soaring at least 65%, murder rates the 2nd highest in the world, and chronic food (and toilet paper shortages), the following disturbing clip shows what is rapidly becoming major social unrest in the Maduro’s socialist paradise… and perhaps more importantly, Venezuela shows us what the end game for every fiat money system looks like (and perhaps Janet and her colleagues should remember that).”

 

Unfortunately, while mocking socialist paradises everywhere is a recurring theme especially once they have completely run out of other people’s money to burn through, what always follows next is far less amusing – completely social collapse, with riots, civil war and deaths not far behind.

That is precisely what the video shown below has captured. In the clip, a demonstration against Venezuela’s poor transportation services quickly turned violent. End result: one person dead from a gunshot wound, more than 80 arrested and four shops looted on the Manuel Piar Avenue in San Felix.

What is most distrubing is how comparable to an open war zone what was once a vibrant, rich and beautiful Latin American country has become.

This is just the beginning: with the ongoing collapse of the economy, the resultant acts of social violence will only deteriorate and claim more innocent lives, until the “socialist utopia” ends as it always does: with the arrival of a military coup or a full blown civil war.

“Planetary Update” August 2015 ~ Mastering Alchemy by Jim Self


Every month, Jim Self “takes the pulse” of the energies currently affecting us and the planet.

Free eBook – The Shift — What it is… Why it’s Happening… How it’s Going to Affect You and The Mastering of Alchemy
by Jim Self
http://www.masteringalchemy.com/libra

Mastering Alchemy (sign up for our monthly newsletter and receive an invitation to Jim’s free webinar series)

http://www.masteringalchemy.com/newsl

Mastering Alchemy Facebook Page
http://www.facebook.com/MasteringAlch

Jim & Roxane’s Book – What Do You Mean the Third Dimension is Going Away? Why Now is the Time to Release Who You Are Not and Remember Who You Are
http://www.masteringalchemy.com/produ
– Also through Amazon
http://www.amazon.com/s/ref=nb_sb_ss_
– Barnes and Nobles
http://www.barnesandnoble.com/w/what-

Israelis Arrested in JPMorgan Hack Case – #NewWorldNextWeek ~ Corbett Report


Welcome to New World Next Week — the video series from Corbett Report and Media Monarchy that covers some of the most important developments in open source intelligence news.

This week:

Story #1: Arrests in Florida, Israel Tied to JPMorgan Hack
http://ur1.ca/nb8dd
Digital Misfits Link JPMorgan Hack to Pump-and-Dump Fraud
http://ur1.ca/nb8de
A Brief History of Israeli Spying in the US
http://ur1.ca/nbeww

Story #2: Her Very Lowness Shown Giving Nazi Salute in Leaked 1933 Home Movie
http://ur1.ca/nb8dg
Queen ‘Nazi salute': British Film Institute Works with Buckingham Palace to Find Source of Leak
http://ur1.ca/nb8dh
UK Lord John Sewell Caught in Cocaine Party with Prostitutes
http://ur1.ca/nb8dn

Story #3: #GoodNewsNextWeek – Hay for Cheese? Barter Booms in Cash-Squeezed Rural Greece
http://ur1.ca/nb8dp
#MigrantCrisis Meets #GreekCrisis as Refugees Set Up Camp in Athens
http://ur1.ca/nb8dr

#NewWorldNextWeek Updates: Hospitals the #3 Killer in the United States
http://ur1.ca/nb8ds
Satanic Temple Unveils #Baphomet Statue in Detroit
http://ur1.ca/nb8du
Australia’s 60 Minutes Special on ‘Westminster Paedophile Network’
http://ur1.ca/nb8dy
#JadeHelm Psyop?: General Wesley Clark, the Mad Bomber of Belgrade, Wants to Intern Disloyal Westerners
http://ur1.ca/nb8e0
#IranDeal Will Be ‘Competing in Europe Head-On With Russia’
http://ur1.ca/nb8e3
Russia Vetoes MH17 Tribunal Draft at UN Security Council
http://ur1.ca/nb8e4

Visit http://NewWorldNextWeek.com to get previous episodes in various formats to download, burn and share. And as always, stay up-to-date by subscribing to the #NewWorldNextWeek RSS feed or iTunes feed. Thank you.

Previous Episode: Pentagon Moving to Weaponize Space
http://ur1.ca/nb8e8

The Social Terrorism of the Mainstream Media ~ Max Igan


Surviving the Matrix – Season 5 – Episode 04
To download, please visit: http://thecrowhouse.com/radio.html
or to stream directly, please visit: http://thecrowhouse.com/dl/MaxIgan_Th…

“When the tyrant has disposed of foreign enemies by conquest or treaty and there is nothing to fear from them, then he is always stirring up some war or other, in order that the people may require a leader” – Plato

Total Collapse: Greece Reverts To Barter Economy For First Time Since Nazi Occupation ~ ZeroHedge


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Months ago, when Alexis Tsipras, Yanis Varoufakis, and their Syriza compatriots had just swept to power behind an ambitious anti-austerity platform and bold promises about a brighter future for the beleaguered Greek state, we warned that Greece was one or two vacuous threats away from being “digitally bombed back to barter status.”

Subsequently, the Greek economy began to deteriorate in the face of increasingly fraught negotiations between Athens and creditors, with Brussels blaming the economic slide on Syriza’s unwillingness to implement reforms, while analysts and commentators noted that relentless deposit flight and the weakened state of the Greek banking sector was contributing to a liquidity crisis and severe credit contraction.

As of May, 60 businesses were closed and 613 jobs were lost for each business day that the crisis persisted without a resolution.

On the heels of Tsipras’ referendum call and the imposition of capital controls, the bottom fell out completely as businesses found that supplier credit was increasingly difficult to come by, leaving Greeks to consider the possibility that the country would soon face a shortage of imported goods.

On Tuesday, we brought you the latest on the Greek economy when we noted that according to data presented at an extraordinary meeting of the Hellenic Confederation of Commerce and Entrepreneurship, retail sales have fallen 70%, while The Athens Medical Association recently warned that 7,500 doctors have left the country since 2010.

Now, the situation has gotten so bad that our prediction from February has come true. That is, Greece is reverting to a barter economy. Reuters has more:

Wild boar and power cuts were Greek cotton farmer Mimis Tsakanikas’ biggest worries until a bank shutdown last month left him stranded without cash to pay suppliers, and his customers without money to pay him.

Squeezed on all sides, the 41-year-old farmer began informal bartering to get around the cash crunch. He now pays some of his workers in kind with his clover crop and exchanges equipment with other farmers instead of buying or renting machinery.

Tsakanikas is part of a growing barter economy that some Greeks deplore as a step backward from modernity, but others embrace as a practical means of short-term economic survival.

When he rented a field this month, he agreed to pay with part of his clover production.

“It’s a nightmare. I owe many people money now – gas stations and firms that service machinery. I have to go to the bank every single day, and the money I can take out is not enough,” said Tsakanikas, who also grows vegetables and corn on 148 acres (60 hectares) of farmland.

“I’ve begun bartering in some forms – it existed in the past but now it is growing… Times have become really tough, and friends and relatives help each other out.”

So Greece, the birthplace of Western civilization and democratic governance, is now literally sliding backwards in history.

The nation – which has already suffered the humiliation of becoming the first developed country to default to the IMF and which was nearly reduced to accepting “humanitarian aid” from Brussels when a Grexit looked imminent a few weeks back – is now transacting in clover, hay, and cheese. Here’s Reuters again:

Tradenow, a Website started three years ago to facilitate barter of everything from food to technology, says the number of users and the volume of transactions have doubled since capital controls came into effect on June 29.

“Before capital controls, we were reaching out to companies to encourage them to register,” says Yiannis Deliyiannis, the company’s chief executive. 

“Now companies themselves are getting in touch with us to get registered.”

He rattles off a list of firms using the site to strike deals with suppliers: a car repairs shop that exchanged tyres with another firm for a new shower cubicle, a burglar alarm provider offering services in return for paper and advertising, an Athens butcher that trades daily meat supplies for services.

In the lush yellow and green fields outside Lamia dotted with cotton, peanut and olive groves, barter is also flourishing on an informal basis outside the online platforms.

Kostas Zavlagas, who produces cotton, wheat, and clover recounted how he gave bales of hay and machine parts to another farmer who did not have cash to pay him.

“He is going to pay me back in some sort of product when he is able to, maybe in cheese.”

Yes, “maybe in cheese”, but certainly not in euros, especially if the growing divisions within Syriza render Athens unable to pass a third set of prior actions through parliament next week.

Should the vote not pass, it’s not clear if Greece will be able to obtain the funds it needs to pay €3.2 billion to the ECB on August 20 – a missed payment would endanger the liquidity lifeline that is the only thing keeping any euros at all circulating in the Greek economy.

On the bright side, “barter has been a part of everyday life for Greeks for a long time” economist Haris Lambropoulos told Reuters. The only difference is that now, “it is a more structured and organised phenomenon.”

Maybe so, but this is one “structured and ordered phenomenon” that many Greeks would likely just as soon do without and indeed, the new barter economy is drawing comparisons to a period in Greece’s history that has gotten quite a bit of attention over the course of the last few months, and on that note, we’ll give the last word to Christos Stamatis, who runs the barter website Mermix:

“Of course, a barter economy is something that we shouldn’t aspire to and should be a thing of the past – the last time we had it on a large scale was when we were under [Nazi] occupation.”

http://www.zerohedge.com/news/2015-07-29/complete-collapse-greece-reverts-barter-economy-first-time-nazi-occupation

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