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While the folks clogging the US tattoo parlors may not have noticed, things are beginning to look a little World War one-ish out there. Except the current blossoming world conflict is being fought not with massed troops and tanks but with interest rates and repayment schedules. Germany now dawdles in reply to the gauntlet slammed down Sunday in the Greek referendum (hell) “no” vote. Germany’s immediate strategy, it appears, is to apply some good old fashioned Teutonic todesfurcht — let the Greeks simmer in their own juices for a few days while depositors suck the dwindling cash reserves from the banks and the grocery store shelves empty out. Then what?

Nobody knows. And anything can happen.

Welcome To Blackswansville

Attention Planet!!! Attention All Souls Among The Nations!!!  

Antichrist Prime Minister Binyamin Netanyahu 911 met on Monday with Greek Foreign Minister Nikolaos Kotzias, and promised to support the flailing state of Greece as it deals with bankruptcy.

“You are arriving here at a critical time for Greece and I appreciate your visit,” Antichrist Netanyahu 911 said at the start of the meeting. “It expresses the true obligation between us.”

“We are today two Western democracies seeking peace and security, and Israel is obligated to help in any way we can so that you succeed, not only because we are friendly nations – we also have an alliance against militant Antichrist Islamic terror which endangers not only the Antichrist Middle East but the entire world.”

Antichrist Netanyahu 911 Says Nuke Deal getting Worse by the Day

“Recently we saw an Antichrist Iranian-Hezbollah terror cell uncovered in Cyprus that had reportedly five tons of ammonium nitrate in one apartment. That’s roughly the amount that took down the Federal Building in Oklahoma City. That’s just one apartment. But this terror network expands to over 30 countries in many continents and we have just received a report of another Antichrist Iranian terror cell operating in Jordan that was uncovered.”

Kotzias responded, saying, “I’m very happy to be here in Israel, we know that Israel is a close and important friend of Greece.”

Antichrist Netanyahu 911 in the meeting also spoke about the Antichrist Iran nuclear deal, which is approaching an extended July 7 deadline on Tuesday.

“Every day more concessions are made to Antichrist Iran and every day the deal becomes worse and worse,” charged the prime minister.

Antichrist Iran was making its red lines clear as talks on a final nuclear deal got under way in Vienna on Saturday. Skull&Bones Secretary of State John Kerry and Antichrist Iranian foreign minister Mohammad Javad Zarif were meeting in a Vienna hotel in the first of what should be several days of negotiations ahead of a Tuesday deadline.

Antichrist Iran Nuclear Talks: Skull&Bones Kerry Begins Final Round to Seal Accord 

Senior Antichrist NWO 666 US 911 Homosexual Obozo Clowns and Antichrist Iranian officials said much hard work still needed to be done to bridge significant differences.

Let love for your fellow believers continue and be a fixed practice with you [never let it fail].

2 Do not forget or neglect or refuse to extend hospitality to strangers [in the brotherhood—being friendly, cordial, and gracious, sharing the comforts of your home and doing your part generously], for through it some have entertained angels without knowing it.

3 Remember those who are in prison as if you were their fellow prisoner, and those who are ill-treated, since you also are liable to bodily sufferings.

Hebrews 13

30 I and the Father are One

31 Again the Jews [d]brought up stones to stone Him.

John 10 

For some strange reason, the network appears to think Antichrist Muslim structures on Temple Mount may soon be gone.

Does CNN Think the Messiah is Coming?

The veil between the spiritual and the physical is coming down. What has been will be again. Though many may feel the events in mainstream media give us no indication of prophecy I beg to differ.

17th of Tammuz (July 4 1776 – July 4 2015)

This is considered the second most ominous day in Jewish History. It is when the walls of Jerusalem were breached before the destruction of the 2nd temple. On the afternoon of the 16th of Tammuz the Israelites constructed the Golden Calf. On the 17th of Tammuz Moses smashed the Ten Commandments. It wouldn’t be until the Feast of Atonement (which is September 23 2015) that Moses would receive the second set of tablets and atonement for the sin of the Golden Calf. The Israelites had been delivered out of the hands of Pharaoh from Egypt, when Moses was on Mt. Sinai speaking with God they became anxious and constructed an idol.

September 23rd 2015 (Tishri 10)

This year September 23 falls on Tishri 10 or Yom Kippur, The Feast of Atonement. On this day Moses received the 2nd set of tablets and received atonement for the Israelite’s sin of the Golden Calf. Interesting that this same year we had our #23 Golden CAV in the NBA Finals. On 6/6/15 or 6/6/1+5 =6 or 666, we had American Pharoah win the Triple Crown for the first time since 1978, the very same year Israel and Egypt signed the Camp David Accords peace treaty. Again, we have the leaders of Egypt and Israel, and this year the Pharaoh happens to hail from America.

America’s Last July 4th (1776-2015)

A recent meeting between National Security Council officials and the left-wing Breaking the Silence group barely made headlines but was a significant move in Antichrist NWO 666 President Barack Obozo’s 911 Homosexual Clown agenda to justify his view that Israel is an “occupier.”

It was Antichrist NWO 666 President Obozo The 911 Homosexual Clown who succeeded in removing AIPAC as the default representative of what is called the “pro-Israel lobby” by opening the Oval Office to J Street, the left-wing group that thinks being “pro-Israel” means accommodating Antichrist Hamas, expelling 600,000 Antichrist Jews from Jerusalem, Judea and Samaria and granting Antichrist statehood Antichrist Palestinian Authority inside Israel’s borders.

Obozo Trying to Make Antichrist NWO 666 US Leftist 911 Homosexual Clown Jews “Mainstream’

Three quarters of highly educated, high income, publicly active US Democrats — the so-called “opinion elites” — believe Israel has too much influence on US foreign policy, almost half of them consider Israel to be a racist country, and fewer than half of them believe that Israel wants peace with its neighbors. These are among the findings of a new survey carried out by US political consultant Frank Luntz.

Israel losing/lost Antichrist Democrats, ‘can’t claim bipartisan US support,’ top pollster warns

Detailing the survey results to The Times of Israel on Sunday, Luntz called the findings “a disaster” for Israel. He summed them up by saying that the Democratic opinion elites are converting to the Antichrist Palestinians, and “Israel can no longer claim to have the bipartisan support of America.”

When He [the Lamb] broke open the seventh seal, there was silence for about half an hour in heaven 2 Then I saw the seven angels who stand before God, and to them were given seven trumpets.

3 And another angel came and stood over the altar. He had a golden censer, and he was given very much incense (fragrant spices and gums which exhale perfume when burned), that he might mingle it with the prayers of all the people of God (the saints) upon the golden altar before the throne. 4 And the smoke of the incense (the perfume) arose in the presence of God, with the prayers of the people of God (the saints), from the hand of the angel.

5 So the angel took the censer and filled it with fire from the altar and cast it upon the earth. Then there followed peals of thunder and loud rumblings and blasts and noises, and flashes of lightning and an earthquake.

6 Then the seven angels who had the seven trumpets prepared to sound them.

Revelation 8

7 The first angel blew [his] trumpet, and there was a storm of hail and fire mingled with blood cast upon the earth. And a third part of the earth was burned up and a third of the trees was burned up and all the green grass was burned up

8 The second angel blew [his] trumpet, and something resembling a great mountain, blazing with fire, was hurled into the sea. 9 And a third of the sea was turned to blood, a third of the living creatures in the sea perished, and a third of the ships were destroyed.

10 The third angel blew [his] trumpet, and a huge star fell from heaven, burning like a torch, and it dropped on a third of the rivers and on the springs of water— 11 And the name of the star is Wormwood. A third part of the waters was changed into wormwood, and many people died from using the water, because it had become bitter.

12 Then the fourth angel blew [his] trumpet, and a third of the sun was smitten, and a third of the moon, and a third of the stars, so that [the light of] a third of them was darkened, and a third of the daylight [itself] was withdrawn, and likewise a third [of the light] of the night was kept from shining.

13 Then I [looked and I] saw a solitary eagle flying in midheaven, and as it flew I heard it crying with a loud voice, Woe, woe, woe to those who dwell on the earth, because of the rest of the trumpet blasts which the three angels are about to sound!

Satellite imagery from Japan’s MTSAT and NOAA’s GOES-West satellite show a total of 7 tropical systems over the North Pacific Ocean on July 5 and 6, 2015.

Meanwhile, 7-day rainfall accumulation data collected by GPM core observatory shows a very large area of rain stretching from the west coast of Mexico all the way to China and into Indian Ocean. In addition, Tropical Cyclone “Raquel”, which formed north of Solomon Islands, South Pacific Ocean around 18:00 UTC on June 30, 2015 (04:00 AST on July 1), made history as first July tropical cyclone ever recorded off Australia’s north-east.

With three tropical cyclones in the northwestern Pacific – Linfa, Chan-Hom and Nangka – 4 developing tropical lows were observed in the central and eastern Pacific.

While Linfa hit northern Philippines, weakened over the mainland, re-emerged over the South China Sea and is now again intensifying toward its July 9th landfall over southern Taiwan, Chan-hom has passed between Guam and Rota, moved toward Northern Marianas Islands and is now heading toward Ryuku Islands and mainland China. Chan-hom is expected to become a major typhoon by July 9, as well as Nangka by July 11.

System 96E, located SSE of Hawai, is expected to intensify into a tropical depression on July 7.

IR images below show them all on July 5 and 6, 2015. Find detailed reports and forecast tracks below.

7 tropical systems over North Pacific Ocean

Heavy rainfall and strong winds brought to the Philippines by the Tropical Storm “Linfa”, locally known as “Egay”, has battered the Cordillera region on the island of Luzon, causing river swelling and landslides on July 6, 2015.

The tropical storm hit northern Luzon, Philippines on July 5 and re-emerged over the open waters between Luzon and Taiwan. At 03:00 UTC on July 6, it’s location was approximately 496 km (308 miles) NM NNW of Manila, Philippines. The system is forecasted to slowly progress poleward, reaching peak intensity wind speed of 101.8 km/h (63.3 mph) in the next 36 hours and hit southern Taiwan on Thursday, July 9.

The total accumulation recorded for the Philippines reached values between 500 and 550 mm (19.68 and 21.65 inches), while the hourly rate values ranged between 25 and 33 mm/h (0.98 and 1.29 inches/h).

Over 209 mm (8.22 inches) of rainfall was recorded on Saturday, July 4, and Sunday, July 5, exceeding the evacuation threshold of 150 mm (5.90 inches) of continuous rainfall. The public was also warned about the high risk of landslides, rockslides and flash floods.

Region 2381 rapidly grows, produces M1.0 solar flare

Strong and shallow M6.2 earthquake registered near Tonga, Pacific Ocean

With the very near possibility of collapse, amid a shortage of cash and short term money, banks in Greece are poising themselves to “bail in” during financial emergencies by seizing customers bank accounts.

FT reported: Greek banks prepare plan to raid deposits to avert collapse

Greek banks are preparing contingency plans for a possible “bail-in” of depositors amid fears the country is heading for financial collapse…

The plans, which call for a “haircut” of at least 30 per cent on deposits above €8,000…
So that could be coming next.

European finance figures expressed woe over the Greek rebellion, and deep upset at the threat to the Euro, decrying:

“a path of bitter austerity and hopelessness.”

“What we certainly don’t want to do is to take decisions that will threaten the monetary union.”

It should be a stark reminder who will carry the costs of failure – the people. Once again, it is the public who bears the losses, and the private clubs who enjoy the profits.

Americans may remember the episode with MF Global – where the company lost big in derivatives and stole customers funds to cover their losses.

Well, that one taught everyone what to expect… be sure, there is more coming.

Bankers Plan to Raid Deposits After Greeks “Rise Up Against Debt Bondage”

Greek Hell Fire & Europa Whore Haircut Works  

Earlier today we reported that as Bloomberg correctly leaked, the ECB would keep its ELA frozen for Greek banks at its ceiling level disclosed two weeks ago. However we did not know what the ECB would do with Greek ELA haircuts, assuming that the ECB would not dare risk contagion and the collapse of the Greek banking system by triggering a collapse in Greek banks if and when it boosts ELA haircuts. Turns out we were wrong, and as the ECB just announced “the Governing Council decided today to adjust the haircuts on collateral accepted by the Bank of Greece for ELA.”

What does this mean? Since it is almost certain that the haircut is being increased (as decreasing the ELA haircut makes no sense since Greek banks still have about €20 billion in ELA collateral buffer and instead the ECB would have simply raised the total ELA amount), it means that the ECB just took its first practove step toward launching a Greek bank bail in.

And for the convenience of our readers, previously we prepared precisely the sensitivity analysis showing what ELA haircut results in what depositor bail-in.

Here is the summary sensitivity analysis indicating what a specific ELA haircut translates to in terms of deposit haircut.

It Begins: ECB “Adjusts” Greek ELA Haircuts; Full “Depositor Bail-In” Sensitivity Analysis

Another way of showing this dynamic is presenting the ELA haircut on the X-axis and the corresponding deposit haircut on the Y-axis once the critical “haircut” threshold of 60% in ELA haircuts is crossed.

Further confirmation that this was a haircut increase comes from a Die Welt journalist who reported that the ECB will hike the haircut just enough to reduce the collateral on Greek banks to slighly above the current level of use which is about €90 billion. In other words, the ECB increased its haircut from roughly 50% to just about 60% above which level depositor bail ins begin.

Needless to say, this decision makes it quite clear that it was not Greece, but the ECB pushing all along for “burning the Greek bridges” – just as we warned in “Goldman’s “Conspiracy Theory” Stunner: A Greek Default Is Precisely What The ECB Wants” – and as a result any chance of a compromise resolution with Greece may have just been, well, burned

666 Citi has effectively ruled out two of the ECB’s contagion fighting tools as not credible. Anything that requires an MOU or isn’t conducive to unilateral activation and implementation will make the market “doubt the firewall.” In other words: it’s more QE or nothing, and at least according to Citi, the threshold is pre-June 2014 Italian spreads.

666 Citi Identifies Contagion “Trigger Point” For More ECB QE 

At that point — i.e. at the point when Goldman’s conspiract theory stunner finally comes true and PSPP is expanded in order to “fight contagion” — the only remaining question will be how long it takes for ECB purchases to suck so much liquidity from the market that all non-central bank buyers begin to demand higher yields to compensate them for the liquidity risk. When that happens, the ECB will officially join the Riksbank in what will be an ever growing pool of central banks who, having reached the magnetization endgame, will either admit defeat or go to Defcon 1, the monetary paradrop.

Earlier today, just after the market open, the Directedge/BATS EDGX Exchange broke. This is what BATS said at 9:41 am:

Please be advised that BATS has halted trading on EDGX Exchange to investigate an issue related to platform modifications rolled out today. Will advise.

Surely it was a complete coincidence that just as BATS broke (again) the market soared, and peaked within minutes of BATS reopening at 10:20, when it blasted the following notification:

Please be advised that all issues at BATS EDGX Exchange have been resolved. All systems are operating normally.

And then, several hours after the surge, BATS was kind enough to provide us with the post-mortem:

Please be advised that BATS EDGX Exchange experienced an issue related to new functionality involving certain Price Adjust logic that went into effect today. The issue only occurred during a crossed market. All impacted members have already been notified. Upon identification of the issue, BATS halted trading on the EDGX Exchange market at 9:41:38 AM ET to investigate. A software issue was identified, a patch was applied and trading resumed as of 10:20:00 AM ET.Additionally, please note that Members with a default port setting of ‘P’ (Price Adjust) will have their default port settings automatically updated to ‘S’ (Display Price Sliding) effective tomorrow. Members that wish to continue to default to Price Adjust price sliding behavior should contact the BATS Trade Desk.

Of course, what happened within EDGX is irrelevant. What is relevant is what happened in the market.


Broken Market Ignites Momentum In Stocks 

BATS – Making Markets Better.Or Making Markets Broken-er

What do you do when two policy rate cuts, $19 billion in committed support from a hastily contrived broker consortium, and a promise of central bank funding for the expansion of margin lending all fail to quell extreme volatility in a collapsing equity market?

Well, you can simply ban selling, which is apparently the next step for Antichrist Communist China.

Peak Desperation: Antichrist Communist China Bans Selling Of Stocks By Pension Funds 

The pension selling ban comes just days after Antichrist Communist China moved to curtail margin calls in a similary ridiculous attempt to stop the bleeding by simply making selling against the rules.

For their part, Moody’s says the “lack of compulsory liquidiation” in margin accounts is probably a very dangerous idea:

Lack of compulsory liquidation rules in unmet margin call is credit negative for securities cos. because it weakens controls against losses, allows industry to increase risk.

Moody’s expects some cos. to aggressively incentivize clients to buy stocks on margin and allow value of collateral to fall below safe level to avoid damaging customer relationships, putting themselves in riskier position.

The takeaway: this is simply one more example (the insolvent US shale space and HY bond funds being two others) of forestalling the inevitable and in the process allowing already precarious situations to mushroom into speculative bubbles that have the potential to wreak untold havoc when the inevitable unwind finally comes. We’ll close with the following quote (again from Moody’s):

New rules [in Antichrist China] appear to be attempt to stabilize market, [but] less discipline around liquidating positions and risk taking with securities cos. underwriting leveraged positions will sow seeds for greater market peril.

Another parable He set forth before them, saying, The kingdom of heaven is like a man who sowed good seed in his field.

25 But while he was sleeping, his enemy came and sowed also darnel (weeds resembling wheat) among the wheat, and went on his way.

26 So when the plants sprouted and formed grain, the darnel (weeds) appeared also. 27 And the servants of the owner came to him and said, Sir, did you not sow good seed in your field? Then how does it have darnel shoots in it?

28 He replied to them, An enemy has done this. The servants said to him, Then do you want us to go and weed them out?

29 But he said, No, lest in gathering the wild wheat (weeds resembling wheat), you root up the [true] wheat along with it.

30 Let them grow together until the harvest; and at harvest time I will say to the reapers, Gather the darnel first and bind it in bundles to be burned, but gather the wheat into my granary.

Matthew 13 

31 Another story by way of comparison He set forth before them, saying, The kingdom of heaven is like a grain of mustard seed, which a man took and sowed in his field. 32 Of all the seeds it is the smallest, but when it has grown it is the largest of the garden herbs and becomes a tree, so that the birds of the air come and find shelter in its branches. 33 He told them another parable: The kingdom of heaven is like leaven ([k]sour dough) which a woman took and covered over in three measures of meal or flour till all of it was leavened.

34 These things [l]all taken together Jesus said to the crowds in parables; indeed, without a parable He said nothing to them. 35 This was in fulfillment of what was spoken by the prophet: I will open My mouth in parables; I will utter things that have been hidden since the foundation of the world.

36 Then He left the throngs and went into the house. And His disciples came to Him saying, Explain to us the parable of the darnel in the field.

37 He answered, He Who sows the good seed is the Son of Man.

38 The field is the world, and the good seed means the children of the kingdom; the darnel is the children of the evil one,

39 And the enemy who sowed it is the devil. The harvest is the close and consummation of the age, and the reapers are angels.

40 Just as the darnel (weeds resembling wheat) is gathered and burned with fire, so it will be at the close of the age.

41 The Son of Man will send forth His angels, and they will gather out of His kingdom all causes of offense [[m]persons by whom others are drawn into error or sin] and all who do iniquity and act wickedly, 42 And will cast them into the furnace of fire; there will be weeping and wailing and grinding of teeth.

43 Then will the righteous (those who are upright and in right standing with God) shine forth like the sun in the kingdom of their Father. Let him who has ears [to hear] be listening, and let him [n]consider and perceive and understand by hearing.


Jonathan Cahn, the Bible teacher and author who started warning nine years ago that America was facing the judgment of God if it did not reject secularism and return to its Judeo-Christian roots, says the June 26 Supreme Court ruling that legalized gay marriage in all 50 states marks the formal end to Christian America.


Barring a “miracle of God,” the die has been cast, said the author of “The Harbinger” and “The Mystery of the Shemitah.

In the last days Christianity will continue to break into two, said Cahn. There will be the apostate false church and that which remains true to the Gospel and a biblical worldview. The true Church will boldly speak the truth on moral issues, as well as embrace Israel and support the Jewish people at a time when the rest of the world sees Israel as the enemy.

“At the beginning of the age you had an anti-Christian pagan culture that persecuted believers, well it’s coming back,” he explained. “We are at a pivotal point.”

This new period of total lawlessness and apostasy in which whole Christian denominations are falling in line with the world’s changing view of marriage, is only the latest symptom that the world and the Church are racing in different directions.

“We are watching changes of tectonic significance. Two years ago, speaking at this conference, I said the ground is shifting beneath our feet. Now I say it has shifted. If ever there was a moment that has marked America’s and much of the Western civilized world’s departure, of a post-Christian America, that definitive marker has come,” Cahn said. “It came just two days before this conference began. It happened on June 26, 2015, when the judgment of the nation’s highest court struck down the word of God concerning marriage.”

‘We have crossed that line’

Cahn said he was there, in Washington, D.C., on the day the court heard oral arguments in the same-sex marriage case.

“I witnessed a man in sackcloth on the steps of the Supreme Court, and a woman with a sign saying ‘Don’t cross this line,’” he said. “The next day I spoke on Capitol Hill to leaders and members of Congress.”

Cahn told those leaders that if a nation’s high court “should pass judgment on the Almighty, should you then be surprised if the Almighty should pass judgement on that court and that nation?

We have crossed that line, the ground has shifted, and things are not going to be the same.

“And what happened was not just about marriage but a symptom of a civilization rejecting this Judeo-Christian faith that we brought to the world.”

Watch clip of Cahn’s speech about Obama White House ‘bathed in colors of rainbow’

Jonathan Cahn: ‘End of Christian America’ is here 

And the ten horns that you saw, they and the beast will [be the very ones to] hate the harlot (the idolatrous woman); they will make her cheerless (bereaved, desolate), and they will strip her and eat up her flesh and utterly consume her with fire.

17 For God has put it into their hearts to carry out His own purpose by acting in harmony in surrendering their royal power and authority to the beast, until the prophetic words (intentions and promises) of God shall be fulfilled. 

18 And the woman that you saw is herself the great city which dominates and controls the rulers and the leaders of the earth.

Revelation 17 

Germany’s all-time heat record was shattered Sunday when temperatures climbed to 104.5 degrees Fahrenheit, making it the hottest day in Germany since recordkeeping began in 1881.

Heat Wave: Germany Marks Hottest Day In History 

The Greek people have spoken and they said “OXI”!

So congratulations Greece: for the first time you had the chance to tell the Troika, the unelected eurocrats, and the entire status quo establishment, not to mention all the banks, how you really felt and based on the most recent results, some 61% of you told it to go fuck itself.

Greeks Flood Syntagma Square To Celebrate “No” Vote 

Now, on the eve of a new era for Europe and what will likely be a turbulent stretch for financial markets across the globe, Greeks are celebrating in the streets of Athens. Here are the visuals:

The people have decided. NO!

And the Germans are angry:

BREAKING: German Vice Chancellor Gabriel – Tsipras has torn down last bridge of compromise. #GreeceReferendum #GreekCrisis
3:40 PM – 5 Jul 2015

Tomorrow: War? Or resolution? 

The Story Behind the Iconic Photo of the Man who Defied Hitler & the Nazis by Refusing to Salute

Perhaps the best summary – or epitaph, some would say – of the shocking events that took place in Greece this afternoon, and the resultant falling dominoes that are about to be unleashed, was given by Slovakia’s finance minister Peter Kazimir, who summarized events as follows:

The “Nightmare Of The Euro-Architects” Is Coming True: JPM Now Sees Grexit, Eurogroup “Split In Coming Days”

We assume the next lines goes as follows:

“Rage, rage against the dying of the “irreversible” currency”

And while we laid out what Deutsche Bank’s 4 possible scenarios are in the case of the now confirmed “No” vote, here is JPM’s Malcom Barr with the bank’s latest take on Greece which is that at this point, a Grexit is JPM’s “base case”… and it only
goes downhill from there.

After the “big no”, euro exit is our base case

After the “big no” it is now a race between two forces: political pressure for a deal, versus the impact of banking dysfunction within Greece. Although the situation is fluid, at this point Greek exit from the euro appears more likely than not

Marine Le Pen, Anti Euro French Presidential Frontrunner, Applauds Greek Victory Over “EU Oligarchy”

Ten days ago, before Varoufakis even announced his stunning break of negotiations with the Troika and proceeded to engage in a referendum which perhaps more symbolically than anything else just said a resounding “No” to the status quo, we said to Forget Grexit, “Madame Frexit” Says France Is Next: French Presidential Frontrunner Wants Out Of “Failed” Euro.

Because while the ECB could at least in theory contain the Grexit fallout with a few hundred billion in bond (and stock, since Europe is pretty much fresh out of bonds it can monetize) purchases, it will not be able to halt the contagion once it spreads to Italy, Spain and Portugal. But once it reaches France, and Marine Le Pen engages in the same type of negotiations with the Troika as Greece just did, it’s all over.

Unfortunately for the ECB, that’s precisely where it is headed because as Reuters just reported, “French far-right leader Marine Le Pen welcomed the early results of the Greek referendum on terms for a bailout from Europe as initial tallies showed the ‘No’ camp leading with results still being counted.”

Le Pen, the leader of the anti-immigration, anti-euro National Front party, said in a statement that the anticipated result was a victory against “the oligarchy of the European Union”.

“This ‘No’ from the Greek people must pave the way for a healthy new approach,” said Le Pen.

“European countries should take advantage of this event to gather around the negotiating table, take stock of the failure of the euro and austerity, and organize the dissolution of the single currency system, which is needed to get back to real growth, employment and debt reduction.”

Here is why we suggest the ECB panic: Le Pen’s star has been on the rise in France and in Europe in the past year since her National Front party performed well in European parliamentary and French regional elections. Surveys suggest she could make the second-round run-off in the 2017 presidential election, if not win outright.

She has sought to capitalize on discontent over Socialist President Francois Hollande’s handling of the economy and rising unemployment, and has made Europe’s management of the Greek crisis a particular target for critique.

As a reminder, a recent Wikileaks NSA data dump showed that the French economy is in “Dire Straits”, and is “Worse Than Anyone Can Imagine” which just happens to be music to Le Pen’s ears.

Finally, Le Pen’s platform supports the end of the common currency zone and a return to more national-based policies on everything from immigration to the economy.

Greece just made it that much easier for Le Pen to achieve her goal.

Greek PM Calls Emergency Meeting For Bank Liquidity: MNI 

The ball is now in the ECB’s court: will it let Greece keep the Greek ELA (or perhaps even raise it) to prevent an all out banking panic and allow Greek bank to reopen as Varoufakis promised, or will it cut the haircut or yank it altogether, starting the Greek depositor haircut as well as the falling dominoes we described yesterday. … Because as much as the ECB wants to deny it, the Euroarea is on the hook for more than 3% of its gross GDP, and perhaps far more once all the off balance sheet liabilities emerge…

In other words, an uncontrolled Grexit at this point would surely lead to a Eurozone depression, one that not even an increase in the ECB’s massive bond (and perhaps stocks) buying would stem. Which, of course, was Varoufakis’ gamble all along.

The paper goes on to discuss and cite publications which have detected heavy metals like aluminum, barium, strontium, and more in rainwater, fly ash, and more. For example, during the period between July 2011 and November 2012, 73 rainwater samples were collected and analysed for aluminum and barium; 71 were collected from 60 different locations in Germany, 1 from France, and 1 from Austria.

Aluminum was detected in 77% of the rainwater samples, there was also a very high barium concentration and a very high Strontium concentration.

It also discusses how these concentrations of metals are not the result of natural phenomenon, like volcanic explosions, for example.

This isn’t the only recent groundbreaking publication that comes from the world of academia regarding this phenomenon. A few months ago, Dr. Rose Cairns, PhD., who belongs to the University of Leeds School of Earth and Environment, published a paper in the peer-reviewed Geophysical Journal titled “Climates of suspicion: ‘chemtrail’ conspiracy narratives and the international politics of geoengineering.”

She is also currently undertaking research into the Governance of Geoengineering as part of a multi-disciplinary collaborative project between Sussex University, UCL, and Oxford University ( The project examines the social, ethical, and political implications of climate geoengineering proposals. (source)

In her paper, she describes developments in mainstream academic and political discourse regarding geoengineering, and how climate modification, also being discussed by the citizens of the world (who use the term “chemtrails”), is having devastating ecological and health effects worldwide. According to her paper:

“Understanding the emerging politics of geoengineering, and taking seriously claims regarding the importance of public participation, requires an understanding of the whole discursive landscape around ideas of global climate control – including marginal ideas such as those held by chemtrail activists. Ignoring or dismissing these discourses out of hand as pathological or paranoid is to ignore potentially revealing insights about the emerging politics of geoengineering.” (source) She also mentions that:

“This analysis suggests a number of ways in which the chemtrail narrative may contain important insights and implications for the emerging politics of geoengineering that cannot be dismissed out of hand as ‘paranoid’ or ‘pathological’.” (source) Although Dr. Rose is not a proponent of the “chemtrail conspiracy,” it’s great to see another published paper by an academic taking a neutral perspective, recognizing the importance of these claims rather than dismissing them outright.

The basic difference here is that geoengineering in the academic realm is strictly a proposal, and that these means of engineering Earth’s climate are still not operational. When it comes to the “chemtrail” advocates, they believe that they are operational, as does the academic described at the beginning of this article, along with many others.

Truth is, there seems to be a tremendous amount of information suggesting that these programs are indeed operational. Whether their intent is to modify the climate to combat the effects of global warming, or to further some other type of agenda, is still not clear.

Nuclear Chemist Publishes Paper Detailing: “Aluminum Poisoning of Humanity via Geoengineering”

Geomagnetic storming briefly reaches G2-Moderate levels 

An agreement has been released by the Antichrist Communist Petrus Romanus Jesuit Pope of the Roman Catholic Church and in it he referred to the “Antichrist State of Palestine.” The agreement deals with aspects of “the life and activity of the Catholic Church in Antichrist Palestine.”

This treaty is very disturbing in that the Antichrist Vatican is officially stating its unilateral recognition of Antichrist Palestine as a state which it is not. This is a political hot potato in which the Pontiff has no business delving. The Antichrist Communist Petrus Romanus Jesuit Pope has wittingly or unwittingly entered into an arena that is beyond the church’s scope and beyond the authority of his governance of the religious life of Catholic’s.

Certainly Antichrist Communist Petrus Romanus Pope Francis is aware of the political ramifications of his one-sided support of a Antichrist  two-state solution though it has yet to be accomplished. Since there is no conclusion, either he or his handlers must be chuckling in their contribution to the complicated Antichrist Israeli-Palestinian issue for which the Pope has added more fuel to the already hot fire.

Playing up to Antichrist Palestinians is Playing with the Fire of God

Extremely curious at the media allegation that the “scientific Pantheist who advises Pope Francis” and has swayed “Laudato Si” (named so after St. Francis of Assisi’s canticle), “seems to believe in Gaia, but not in God,” I set out to read for myself the climate change encyclical in Italian.

I have heard these words before written in the 40-chapter U.N. Agenda 21 document signed by 179 countries in 1992 in Rio de Janeiro and repeated by subsequent Rio conference participants and advocates who really want to destroy capitalism. Here’s a quote by Christina Figueres, Executive Secretary of U.N.‘s Framework Convention on Climate Change, in which she admits that environmental activists and lobbyists aim to destroy capitalism, not save the globe from ecological Armageddon.

With all due respect to his Holiness and the church, this document reads just like any other communist-based environment manifesto and is full of transparent communist jargon (especially the bold-faced words) promoted and supported by various United Nations-affiliated environmental NGOs.

We already have an environmental Constitution for the world, The Draft International Covenant on Environment and Development (DICED). I spoke at length about some of the 79 articles of DICED in my book, “U.N. Agenda 21: Environmental Piracy.” But having his Holiness support the goals of the climate change industry, gives their entire agenda a new and powerful fa√ßade.

The papal encyclical “Laudato Si” published on May 24, 2015 ends with a beautiful Prayer for our earth on page 184 and with a Christian prayer with the Creator on pages 185-187.

When Antichrist Communist Petrus Romanus Jesuit Pope Francis asked on page 123, “What type of world do we wish to leave for our children who are now growing up,” it is clear to me what type, it is global communism ordered around the redistribution of wealth and around a one-world government under the guise of planet stewardship

The real low-down on Antichrist Communist Petrus Romanus Pope Francis’ Encyclical on Climate Change 

Greek Hell Fire & Europa Whore Haircut Works American 1776 Satanic 2nd Of Sirius 4th Of July ISIS Vote 2 Tu Party Crypto Fascist Socialist Pinko Joke Of The World In Dire Strait Supreme Court Corporate Citizen’s United States Jesters U.N.Constitution Climate Chaos Become Homosexual Clown Bride Image Antichrist NWO 666 Obozo 911 Beast 

Many American citizens have been openly questioning and wondering if the recent SCOTUS (Supreme Court of the United States) decisions regarding and Antichrist Same Sex Marriage are the beginnings of a governmental fascist takeover by self-appointed elitists.

^^^LMAO, they are still ”wondering”? Hello lukewarm sleeping Bride who’s just been ”rufi’d”, and yes as the man you just woke up in their dress.

Supreme Court Ignores Our Constitution and Wears the Antichrist Hats of Obozo-type Fascists

Only one branch of our government is constitutionally charged with establishing the laws that govern our daily activities and it has been that way for more than two centuries. But here in 2015 with the strange and probably illegal activity of the Supreme Court in its handling of the healthcare proposition and again in their mis-handling of the definition of marriage, we have the Judiciary actually deciding on the question instead of the people.

This puzzling direction away from the normal activities of the high court in order to create a law is coupled with our highest elected government officer, the President, who is constantly trying to subvert the historical workings of government by attempts to bypass the Congress who are charged with making laws and changing or creating his own as if he were suddenly designated as the country’s dictator.

It has boiled down to the fact that every branch of government wants to be the one to create laws, and only one, the Congress, has that authority. This president has already announced to the country, and the world for that matter, that he has the ‘audacity’ to be the one to tell the people to back off and let him do what he wants. In other words; he wants to be our dictator.

Now that would be something to behold, if he had the tools to be able to dictate sensibly. But he hasn’t got those necessities and has to depend on communist-trained and tutored Cabinet Officers and a whole raft of vicious and uncouth czars and mentors like the wild and wooly Farrakhan and George Soros.

Obozo’s got the mouth to be audacious but not the brains.

As diplomats rush to reach an agreement to curb Iran’s nuclear program, the U.S. military is stockpiling conventional bombs so powerful that strategists say they could cripple Tehran’s most heavily fortified nuclear complexes, including one deep underground.

U.S. stockpiles powerful bunker-buster bombs in case Antichrist Iran nuclear talks fail

The bunker-busting bombs are America’s most destructive munitions short of atomic weapons. At 15 tons, each is 5 tons heavier than any other bomb in the U.S. arsenal.

In development for more than a decade, the latest iteration of the MOP — massive ordnance penetrator — was successfully tested on a deeply buried target this year at the White Sands Missile Range in New Mexico. The test followed upgrades to the bomb’s guidance system and electronics to stop jammers from sending it off course.

U.S. officials say the huge bombs, which have never been used in combat, are a crucial element in the White House deterrent strategy and contingency planning should diplomacy go awry and Antichrist Iran seek to develop a nuclear bomb.

Netanyahu 911: What’s happening in Antichrist Iran talks is a breakdown, not a breakthrough

The negotiators missed a June 30 deadline for a final agreement, but have given themselves until July 7. Foreign ministers not in Vienna are expected to rejoin their counterparts in a final push for a deal beginning on Sunday.

At weekly cabinet meeting, prime minister says that deal emerging with Antichrist Iran is worse than deal that led to Antichrist Communist North Korea obtaining an arsenal of nuclear weapons.

Antichrist Prime Minister Benjamin Netanyahu 911 on Sunday expressed alarm at the emerging nuclear deal between western powers and Antichrist Iran currently taking place in Vienna.

Speaking at the opening of the weekly cabinet meeting, Antichrist Netanyahu 911 said that “what’s coming out of the nuclear talks in Vienna is not a breakthrough, it’s a breakdown.”

Antichrist Netanyahu 911 said that the world powers were conceding more and more with each passing day.

The emerging deal “will pave Antichrist Iran’s way to produce the cores of many atomic bombs and it will also flood Antichrist Iran with hundreds of millions of dollars that will serve it in its aggression and its mission of terror in the region and the world,” the prime minister warned.

Antichrist Netanyahu 911 claimed that the emerging deal with Iran was worse than the nuclear deal that had been signed with North Korea which led to Pyongyang obtaining an arsenal of nuclear weapons.

Europarliament President Threatens Greeks With Armageddon If They Vote No

Theoretically if not all Greeks, at least these above mentioned could file a lawsuit against the President of the EP for violating his post’s “neutrality”, “for blatant intervention in internal political and fiscal affairs of a sovereign country” – how much more as the EP is not part for the creditors’ three-institutions – and for “causing moral damage and psychological distress” to at least several million Greek citizens.

Not to mention the fact, that these austerity-ridden Greeks used to pay their taxes and fund the salary of Schulz & Schulz.

I suppose inthe free market, Schulz & Schulz would have been fired for incompetence and for breach of duty and code of conduct in context of his public office.

On Thursday, Schulz told German daily Handelsblatt that the elected Syriza government should be replaced by “technocrat” government until stability is restored.

“We should appoint governments of technocrats,” Martin Schulz told Handelsblatt.
Schulz statement is here: EU warns of Armageddon if Greek voters reject terms

Greek Referendum Polls Close: “No” Seen Ahead By Most 

2 hours until the first official results are out but if this result remains unchanged, CNBC may have to bring its “markets in turmoil” producers early from holiday vacation.

Can’t wait 4 more hours until the first official results from the Greek referendum trickle in? The “Intelligence Unit” of the Economist Group, part-owned by the Rothschild banking family, has already called it and the “Oxis” have it by a wide margin

The Economist Calls Victory For “No” Camp: Sees 60% Voting “Oxi”

While Syriza’s position is clear, it is now up to the people. Some want a clean break: “I voted ‘No’ to the ‘Yes’ that our European partners insist I choose,” said Eleni Deligainni, 43, in Athens. “I have been jobless for nearly four years and was telling myself to be patient … but we’ve had enough deprivation and unemployment.” Angry and exhausted after five years of pension cuts, falling living standards and rising taxes, Greeks now face closed banks, rationed ATM withdrawals and the prospect of the country literally running out of cash.

Others want to remain under the control of the Eurogroup, even if it means no hope of a long-term recovery, as long as it makes the current pain bearable:

“You call this dignity, to stand in line at teller machines for a few euros?” asked pensioner Yannis Kontis, 76, after voting in the capital. “I voted ‘Yes’ so we can stay with Europe.”

Pensioners besieging bank gates to claim their retirement benefits, only to leave empty-handed and in tears, have become a symbol of the nation’s dramatic fall over the past decade, from the heady days of the 2004 Athens Olympics to the ignominy of bankruptcy and bailout.

Anxious Greeks rallying for a ‘Yes’ vote say Greece has been handed a raw deal but that the alternative, a collapse of the banks and a return of the old drachma currency, would be far worse.

The ‘No’ camp says Greece cannot afford more of the austerity that has left one in four without a job.

The polls close at 7pm local time (noon Eastern) at which point one of two things will happen: as we get a clear picture of whether the Nais or Oxis are in front, it will either mean that the ECB’s decision on what to do with the ELA’s all important collateral cuts becomes front and center with Europarliament president Schultz threatening Greece that as soon as they vote No, they will have to go back to the drachma, or else the Syriza government will have to resign.

“If they (Greeks) say ‘No’, they will have to introduce another currency after the referendum because the euro is not available as a means of payment. And how are they going to pay salaries? How are they going to pay pensions?”” Martin Schulz, the president of the European Parliament, said in remarks broadcast on Germany’s Deutschlandfunk radio on Sunday.

As Reuters notes, If Greeks vote ‘Yes’ to the bailout, the government is likely to fall — triggering a new chapter of uncertainty as political parties try to cobble together a national unity government to keep talks with lenders going until elections are held.

European creditors have said a ‘Yes’ vote will resurrect hopes of aid to Greece. A ‘No’, they say, will represent rejection of the rules that bind the euro zone nations, and may dash hopes of a negotiated deal to keep Greece within the euro.

The worst case may be the lack of a decisive outcome: An inconclusive result may sow further confusion, with the potential for violent protests. “The nightmare result would be 51-49 percent in either direction,” a senior German official said. “And the chances of this are not insignificant.”

For now, we wait as do all of the people shown below, whose last remaining asset may be hope.

Greeks Vote In “Prophetic UNHoly Mark Of The Beast Moment” – Live Updates

With nearly 60% of the Greek refrendum vote counted, and the No’s leading by a landslide 61%, it is clear that the Troika’s gambit failed, unless as Goldman wrote and we first noted, it was the ECB’s intention to force a Grexit all along, thus permitting the ECB to engage in more QE: QE which would in Goldman’s estimation, push the EURUSD down 7 big figures and further toward parity, sending global stocks soaring in one last central bank-inspired hurrah.

For now, however, while the carry trades are in risk off mode, the drop is not nearly as dramatic, and the EURUSD is trading under 1.10…

Risk Off: FX Carry Trades Tumble, Euro Opens Under 1.10; USDJPY Under 121 

Should there be no official statement by the Eurozone fin mins or any support from the ECB, we anticipate the risk off mode will only accelerate overnight, especially if the PBOC fails to support Chinese markets tonight, which – with all due respect to Greece – is the far bigger catalyst to what happens in global stock markets tomorrow, because if the Chinese central banks has lost the market’s confidence all bets are off.. 

On Saturday we learned that a consortium of Antichrist Communist Chinese brokers will inject 15% of their net assets — or around $19 billion — into blue chip stocks starting Monday and China’s mutual funds have pledged not to sell their equity positions for at least a year.

As we and others noted, the injection from the brokerages likely will not matter. As one analyst told Bloomberg, “it won’t last an hour in this market.” Besides, much of the unofficial, backdoor margin buying was funneled into speculative small caps, which are, for now anyway, outside the purvey of the emergency measures. For these reasons (and others) we said the following:

It’s probably just a matter of time before the PBoC interevenes to provide Kuroda-style plunge protection when “sentiment” looks to be souring.

“Rainbows always appear after rains,” Antichrist Communist China’s state media said over the weekend, in a blatant attempt to create the conditions for a self-fulfilling prophecy when the country’s battered equity markets opened for trading on Monday.

Antichrist Communist China’s brokers and mutual funds each took steps on Saturday to help stabilize the market which has collapsed 30% in just three weeks, thanks in part to a massive unwind in the shadowy world of backdoor margin lending.

On Sunday, the Antichrist Communist China Securities Regulatory Commission announced that Antichrist Communist China’s central bank is set to inject capital into Antichrist Communist China Securities Finance Corp which will in turn use the funds to help brokerages expand their businesses and reinvigorate stocks. Translation: Antichrist Communist China’s central bank is now underwriting brokers’ margin lending businesses.

Volatility, Confusion Reign As Antichrist Communist PBoC Intervenes: Antichrist Communist Chinese Stocks Surge Then Tumble 

With millions of shell-shocked, over-leveraged retail investors looking to cut their losses just as the Antichrist Communist PBoC funnels money to brokers to ramp up margin trading, expect the wild swings investors have seen over the course of the last two months to continue and indeed to become even more exaggerated as the battle between Antichrist Communist Politburo plunge protection and frantic farmer selling heats up.

Asia-Pacific Stock Indexes 

It took less than 24 hours for that prediction to be proven correct because on Sunday, the Antichrist Communist China Securities Regulatory Commission announced that the PBoC is set to inject capital into Antichrist Communist China Securities Finance Corp which will use the funds to help brokerages expand their businesses and reinvigorate stocks. Here’s WSJ:

Antichrist Communist China’s central bank will provide liquidity to help stabilize the country’s crumbling stock market, according to a statement by Antichrist Communist China’s top securities regulator late Sunday.

The People’s Bank of Antichrist Communist China will inject capital into Antichrist Communist China Securities Finance Corp., which is owned by the securities regulator, according to the statement by the Antichrist Communist China Securities Regulatory Commission. The company will then use the funds to expand brokerages’ business of financing investors’ stock purchases.

The CSRC said Friday it would dramatically increase the company’s capital to 100 billion yuan ($16.1 billion) from the current 24 billion yuan. The exact amount to come from the central bank hasn’t been disclosed.

The latest move comes as Antichrist Communist Chinese authorities are scrambling to stem a stock-market slide that officials fear could spread to other parts of the world’s second-largest economy.

Also late Sunday, a unit of Antichrist Communist China’s giant sovereign-wealth fund, Central Huijin, said it recently purchased exchange-traded funds and will continue to do so, another measure aimed at stabilizing the market.

Panic: Antichrist Communist China Central Bank Steps In To Bailout Stocks 

In other words, Antichrist Communist China’s central bank is now underwriting brokerages’ margin lending businesses; that is, the PBoC is now in the business of financing leveraged stock buying.

Despite being one step removed from onboarding equities directly onto its balance sheet, the Antichrist Communist PBoC is effectively buying stocks, which amounts (of course) to QE. What’s particularly interesting here is that as we’ve said on too many occasions to count, it’s exceedingly likely that the plan in Antichrist Communist China was to save outright QE for purchases of Antichrist Communist China’s local government bonds.

The CNY15 trillion (at least) of new muni bond issuance that’s part and parcel of the country’s critical local government debt refi program will likely put quite a bit of upward pressure on rates which will make benchmark lending rate cuts less effective, eventually necessitating outright purchases by the Antichrist Communist PBoC. Now, a very inconvenient stock market rout may have just pushed Beijing into QE far sooner (and in a different market) than it would have liked. But as noted above, Antichrist Communist China has no choice. The effect of an outright stock market collapse on domestic morale would be devasating and might very well serve to undermine international confidence in the country’s equity markets just when momentum was building for MSCI benchmark inclusion.

We’ll close with our (slightly modified) warning from Saturday which seems particularly relevant now:

“Because the reckless margin buying in Antichrist Communist China is concentrated in small caps trading at nosebleed multiples, the central bank will be fun Antichrist Communist ding the purchase of umbrella manufacturers, real estate developers-turned P2P lenders, and ponzi schemes unlike the BoJ’s equity book which (at least as far as we know), is comprised mostly of ETFs.”

Leverage your dream“, now sponsored by the Antichrist Communist PBoC.

WW3 On Rise As Global Disorder Trends Upward And Genocide, Plagues And Destruction Lay In Wait Upon Horizon

With this linked story from July 3rd on telling us that Antichrist Communist China is now blaming Morgan Stanley and other ‘evil forces’ for the panic that swept over the Shanghai Composite after $3.7 trillion was wiped out of the Chinese market soon after the US State Department accused hackers working for the Antichrist Communist Chinese government of hacking into the personnel records of millions of US government employees, we take a look at conflicting recent warnings given by a US General and the richest man in Antichrist Communist China that World War 3 is near.

Jack Ma is the owner of the website Alibaba and the richest man in Antichrist Communist China. According to Ma, the Antichrist Communist Chinese billionaire, World War 3 is coming, but it will be a ‘good thing’. While Ma foresees a WW3 that will pit Antichrist Communist China and America fighting TOGETHER against ‘societies ills’ (is the 2nd Amendment an ‘ill’ of society in Antichrist Communist China’s eyes?), US General Martin Dempsey looks at WW3 much differently and in fact tells us that the probability of the US fighting a war against Russia is growing and Antichrist Communist China is only making matters worse due to their cyber spying and actions in the South China Sea.

Meanwhile, US General Martin Dempsey has released the 2015 National Military Strategy for the US as shared in the 1st video below in which he warns us that China and Russia both pose a military threat to the US and that a US war against another major power is quite probable. Dempsey quickly warns us that ‘global disorder is trending upwards’ while some of our ‘comparative advantages’ are beginning to erode.

This Market Watch opinion piece by Paul B. Farrell shares with us that General Dempsey isn’t the only person concerned that World War 3 will likely be here, in fact, according to Farrell, World War 3 with China is dead ahead.

YouTube videographer David Vose tells us more about what potentially comes along with World War 3, genocide, plagues and destruction worldwide. We should all pray that General Dempsey and Vose are wrong about what is likely coming.

Video shot from a drone unveiled a massive Russian military camp some 15 miles inside Ukraine, and just 10 miles from the front line where fierce fighting has taken place between Government forces and Moscow-backed rebels. In the damning footage Russian T-72 tanks, construction equipment and tents can be seen massed together in a woodland clearing. The pro-Kiev group Dnipro-1, which released the video, said it had conducted two fly-bys with the drone which showed that Russian military action in the area is growing by the day.

The first film, shot on May 20, shows tanks, petrol tank lorries, tents and about 70 soldiers at the site.

However by the time the drone flew past for a second time, on June 4, evidence of a “powerful war camp” complete with a command centre, roads and trenches was starting to emerge. The footage was shot near the village of Solntsevo, just 10 miles from the scene of some of the fiercest fighting in a civil war which has ripped Ukraine apart.

It is accompanied by English subtitles describing what can be seen in the pictures.

The text reads: “Here we can see powerful command staff. There is a communication vehicle, the tent for planning operation, two tents for soldiers and dug-out shelters.

“For 15 days on this area, the enemy had built the powerful, aggressive war camp.

“All constructions are professionally built.”

The footage emerged after top NATO commander, Air Force General Philip M. Breedlove, said that the border between Ukraine and Russia is “wide open” with a “constant flow” of Russian troops passing freely across it.The general claimed that Moscow’s military action in the region is carefully orchestrated to keep pressure on Ukraine from aligning too closely with the West.

Vladimir Putz Putin masses tanks and troops inside Ukraine as war threatens to escalate

The Antichrist Saudi multi-millionaire media tycoon, Antichrist prince Talal Bin Waleed, has urged all Arab nations to give up their acrimonious stance toward the Antichrist Jewish nation and instead continue to strive for a more peaceful , prosperous and homogenous Antichrist Middle-East.

The controversial Antichrist Saudi prince Talal has openly declared his intention to embark a seven-day pilgrimage to Holy Land and pray in Antichrist Al-Aqsa Mosque — the third holiest site in Islam located in the Old City of Jerusalem– , reported Okaz , the Arabic Saudi Arabian daily on Thursday.

“All my Antichrist Muslim brothers and sisters must understand that it became a moral imperative for all inhabitants of war-torn Antichrist Middle-East, namely Arabs, to desist their absurd hostility toward Antichrist Jewish people. My sovereign, Antichrist King Salman has instructed me to open a direct dialogue with Israel’s intellectual building amicable ties with our Israeli neighbors,” Okaz quoted the Antichrist Saudi prince who lives in one of London’s affluent suburbs.

Antichrist Prince Talal of Antichrist Saudi Arabia: my visit to Israel shall mark the new age of prophetic Antichrist peace and fraternity

For you yourselves know perfectly well that the day of the [return of the] Lord will come [as unexpectedly and suddenly] as a thief in the night.

1 Thessalonians 5 

3 When people are saying, All is well and secure, and, There is peace and safety, then in a moment unforeseen destruction (ruin and death) will come upon them as suddenly as labor pains come upon a woman with child; and they shall by no means escape, for there will be no escape.

Goodbye Washington, hello Moscow? Antichrist Saudi Arabia finds friendly face in Putz Putin. 

As two of the world’s biggest oil producers, Putz Putin On The Russia Ritz and Antichrist Saudi Arabia working together have the potential to dominate the globe’s petroleum markets. So far, that hasn’t happened, as seemingly irreconcilable differences – and particularly Antichrist NWO 666 US-Saudi relations – have kept them apart.

But all the smiles and deal-making last month between Vladimir Putz Putin and Antichrist Mohammed bin Salman, the youthful and ambitious Antichrist Saudi deputy crown prince and Antichrist defense minister, has some claiming that the two energy giants, driven together by geopolitical crisis, may bet set for a much closer relationship.

Some experts perceive signs of an “emerging partnership” driven by shifting global winds, in which Saudi cash helps Moscow dodge Western sanctions, while Russian arms, engineering expertise, and diplomatic support assist the energetic new Antichrist Saudi king to wean his country from dependency on an increasingly uncooperative Antichrist NWO 666 Obozo The 911 Homosexual Clown US.

Tunisian President declares emergency: New terror attack would cause ‘collapse’

Tunisian President Beji Caid Essebsi on Saturday declared a 30-day state of emergency, saying another attack such as last week’s terrorist massacre at a beach hotel would “cause the country to collapse.”

The declaration gives the military and police more authority to combat terrorism and places restrictions on such rights as public assembly. Essebsi pledged to respect freedom of expression.

In a televised address to the nation, the President mentioned the terror group Antichrist ISIS by name and declared Tunisia at war with extremism.

“Tunisia faces a very serious danger and it should take any possible measures to maintain security and safety,” he said.

The decision comes in response to the June 26 attack in which a gunman opened fire at the beachfront Hotel Riu Imperial Marhaba in the coastal city of Sousse. At least 38 more were killed in the attack, for which Antichrist ISIS has claimed responsibility.

Tylenol’s Pro-Antichrist Homosexual Gay Campaign Aims to Change Face of American Family (No Christian Can Ever Use Tylenol’s product EVER AGAIN)

Chris Christie: Clerks must perform Antichrist same-sex ‘marriages’ regardless of their religious beliefs (No Christian Can Ever Vote For Or Follow This Evil Bastard Again, AND NO CHRISTIAN CAN BE A GOVERNMENT EMPLOYEE FOR THE NEW WORLD ORDER ANTICHRIST AMERICAN GOVERNMENT)

The prophetic reality now upon this generation does not call for any more prayer for America.



There is no more grace left. THE GRACE PERIOD IS JUST ABOUT TO END!



THAT IS ALL… …now get to work laboring the last in the field, soon you shall realize the time of the gentiles and the two witness confirmed.

Burger King sells Antichrist Homosexual gay pride Whopper (No Christian Can Ever Eat There Again)

A Warning to Rich and Selfish People

You rich people, listen! Cry and be very sad because much trouble will come to you. 2 Your riches will rot and be worth nothing. Your clothes will be eaten by moths. 3 Your gold and silver will rust, and that rust will be a proof that you were wrong. That rust will eat your bodies like fire.

James 5

You saved your treasure in the last days. 4 People worked in your fields, but you did not pay them. They are crying out against you. They harvested your crops. Now the Lord All-Powerful has heard their cries.

5 Your life on earth was full of rich living. You pleased yourselves with everything you wanted. You made yourselves fat, like an animal ready for the day of slaughter.[a] 6 You showed no mercy to good people. They were not against you, but you killed them.

Be Patient

7 Brothers and sisters, be patient; the Lord will come. So be patient until that time. Look at the farmers. They have to be patient. They have to wait for their valuable crop to grow and produce a harvest. They wait patiently for the first rain and the last rain.[b] 8 You must be patient too. Never stop hoping. The Lord is coming soon.


Greek Hell Fire & Europa Whore Haircut Works American 1776 Satanic 2nd Of Sirius 4th Of July ISIS Vote 2 Tu Party Crypto Fascist Socialist Pinko Joke Of The World In Dire Strait Supreme Court Corporate Citizen’s United States Jesters U.N.Constitution Climate Chaos Become Homosexual Clown Bride Image Antichrist NWO 666 Obozo 911 Beast

Reading for July 4, 2015 ~ Tammuz 17, 5775
Num 22:2-25:9 ~ Micah 5:6-6:8 ~ John 13-14

Saturday, July 4, 2015: Balak (Balak) 

The fast of the 17th of the Hebrew month of Tammuz, known as Shivah Asar B’Tammuz, is the start of a three-week mourning period for the destruction of Jerusalem and the two Holy Temples.

17th of Tammuz 

The fast actually commemorates five tragic events that occurred on this date:

Moses broke the tablets when he saw the Jewish people worshipping the Golden Calf.
During the Babylonian siege of Jerusalem, the Jews were forced to cease offering the daily sacrifices due to the lack of sheep.
Apostomos burned the holy Torah.1
An idol was placed in the Holy Temple.2
The walls of Jerusalem were breached by the Romans, in 69 CE, after a lengthy siege. (Three weeks later, after the Jews put up a valiant struggle, the Romans destroyed the second Holy Temple on the 9th of Av.)
The Jerusalem Talmud maintains that this is also the date when the Babylonians breached the walls of Jerusalem on their way to destroying the first Temple.

Memory. No memory of life before the financial crisis; politics has dominated it ever since. But now I can hardly remember life before Friday night. Fear. I am terrified of tomorrow, all I now see is black. Uncertainty, leading us through our days, every remainder of hope for a brighter future being destroyed by the minute. I look at my three-year-old niece, I envy her ignorance, I envy her age. I am 21 years old and the past few days I feel tired by life. A referendum that supposedly gives me the right to define my future, seems to have taken it away.

There are hundreds of people queueing at the ATMs and petrol stations, there is silence in the streets, people’s faces are frozen. This is the reality since Friday night. There are, and have been for a long time, people literally starving. However, it seems that instead of their situation improving, the rest of us will have no different a fate.

Families and friends divide in Yes and No camps. We are called to exercise our democratic right by voting on a referendum while having no tangible explanation of what will follow each decision. I see everyone I know ready to take this huge responsibility without even being prepared to do so. I notice us, arguing endlessly, everyone supporting their stance fervently, ego dominating minds and words, while having no clue as to what is really at stake.

We all want the crisis to end, we all crave growth and happiness. I do not remember my parents being free of stress and anxiety in the past years. I do not remember not noticing shops closing every month, or the rapid increase of beggars in the streets. People that, before the financial crisis, never had to beg for anything. However, the past five days have been worse than all that has been so far. They say that all we hear is propaganda; but we have lost our trust in all sides, now everything seems to be lies.

It feels like an end. The end of our lives as we knew them. Yes, the lives that, before Friday, we already thought could be better; now we realise they were better then. The only thing we truly wish for is that the worst is not yet to come.

Iliana Magra

Thessaloniki, Greece

A 21-Year-Old Greek Unloads: “I Am Terrified Of Tomorrow…It Feels Like An End” 

I pledge allegiance to no flag, but to truth and morality.
which doesn’t seem to exist in the Divided States of America.
And to no republic, for it stands for nothing,
One nation, under surveillance,
comply divided
with Liberty and Justice destroyed
and inalienable rights taken from us all.

A Pledge Submitted by an American Reader 

We have inquired with the OCC about both the derivative moves of both JPM’s “commodity” and Citi “precious metals” surges, both rising by over 1000% in the past quarter. We will promptly inform readers if we hear back, which we won’t.

666 Citigroup Just Cornered The “Precious Metals” Derivatives Market

One week ago, when we scoured through the latest OCC quarterly derivative report (in which we find that the top FDIC insured 4 US banks continue to account for over 90%, or $185.5 trillion of all outstanding derivatives which as of March 31 amounted to $203 trillion; nothing new here), we found something fascinating: based on the OCC’s derivative update, JPM had literally cornered the commodity derivatives complex, when from “just” $226 billion in total Commodity exposure, JPM’s notional soared by 1,690% in one quarter to $4 trillion, or about 96% of total.

Some, without even bothering to read the article, did what they always do when reacting to Zero Hedge articles: accused it of writing a “wrong” post first and asking questions later and coming up with some utterly incorrect response to show just how wrong Zero Hedge was because, guess what, the Office of the US Currency Comptroller had clearly “fat fingered” trillions in critical data which is far more logical.

As usually happens in these situations, Zero Hedge was right (there was some tongue in cheek apology but hey, at least someone got to boost their traffic briefly by namedropping this web site; incidentally apology accepted), which could have been checked simply just by looking at bank call reports, in this case the quarterly Regulatory Capital report, schedule RC-R, which made it very clear that indeed JPM’s OTC commodity derivatives had exploded to $4 trillion.

For those too lazy to check before tweeting, here is the number of OTC cleared “Other” commodity derivatives for JPM before, as of December 31And after, as of March 31:

Furthermore, while we await the OCC to respond to our inquiry (we aren’t holding our breath), nobody has disputed our claim (because it is purely factual) that as of Q1 the OCC decided to exclude Gold as a separate commodity category (see call reports above) and lump it in with Foreign Exchange for some still unexplained reason. It would appear that gold is money after all…

So to summarize: as we reported first (and we would be delighted if other so called financial experts dedicated as much effort to digging through the primary data as they have to desperately try to disprove our article), JPM has indeed cornered the OTC commodity market, with its $4 trillion in “Other” commodity derivatives which amount to 96% of total. We don’t expect anyone to ask Jamie Dimon about this on the quarterly earnings call because this is one of those things one doesn’t want an answer to if one wishes to be invited to the next conference call.

However, another big question remains: just what is Citigroup – not, not JPMorgan – with the Precious Metals category.

Here is the chart showing Citigroup’s Precious Metals (mostly silver now that gold is lumped in with FX), exposure over the past 4 years. Of note: the 1260% increase in Precious Metals derivative holdings in the past quarter, from just $3.9 billion to $53 billion!

For those of a skeptical bent the proof can be found in Citi’s own call report, which can be seen here as of March 31, 2015 vs December 31, 2014.

Another way of showing what Citi just did with the “Precious Metals” derivative category, is the following chart which shows Citi’s total PM derivative exposure as a percentage of total.

Soaring from just 17.4% to over 70%, there is just one word for what Citigroup has done to what the Precious Metals ex Gold (i.e., almost exclusively silver) derivatives market.


So, the question then is: just what is Citigroup doing with its soaring Precious Metals (excluding gold) exposure, and why is such a dramatic place taking place at precisely the time when not only JPM is cornering the entire “Other” Commodity derivatives market in the form of a whopping $4 trillion in derivatives notional, but in the quarter after none other than Citigroup itself was responsible for drafting the swaps push-out language in the Omnibus bill AKA Presenting The $303 Trillion In Derivatives That US Taxpayers Are Now On The Hook For

And also: how is it legal that JPM is solely accountable for 96% of all commodity derivatives while Citigroup is singlehandedly responsible for over 70% of all “precious metals” derivatives? Surely even by the most lax standards this is illegal, but what makes the farce even greater is that all of this taking place out of FDIC-insured entities!

The final question, which we are absolutely certain will remain unanswered, is whether any of these dramatic surges have anything to do with the recent move in precious metals prices, or rather the complete lack thereof, even as Europe is on the verge of its first member officially exiting the Eurozone, and China’s stock market is suffering its worst market crash since 2008. Oh, and we almost forgot: with both JPM and Citi now well over 50% of the derivatives market in two critical categories, who is the counterparty!?

What I foresee is that Antichrist Communist China’s new regional debt and bank bail out is forcing it in to what is essentially QE. The flow of Yuan is going to be vastly increased. A good idea would be to have lots of people ‘need’ these yuan and be keen to soak them up. That is what would happen if the Yuan becomes a new reserve currency or, failing that, if there is at least a greater use of the Yuan as a settlement currency for major international trades.

Greece, Antichrist Communist China, & Putz Putin Russia – A Plan B For Tsipras 

Which brings me to my speculation about Greece and the report quoted above about Antichrist Communist China helping Greece via the new AIIB. Might it not suit Antichrist Communist China, with its coming flood of new Yuan, to offer Greece a hand with a few Yuan. Greece might offer to conduct all its foreign trade in Yuan rather than dollars or Euros. Greece would benefit because it would not be beholden to America or Europe for a flow of their currencies. It could look to Antichrist Communist China instead. Russian would be happy with this because it has a settlement agreement with Antichrist Communist China. Any gas pipeline work could be financed in Yuan with chinese government backed Yuan loans. The AIIB could help Greece out with a loan to allow it to operate. Such a loan would not be blockable from Europe or America. Greece could default and still have operating money. Antichrist Communist China could spin it as almost humanitarian aid: The Antichrist Communist Chinese people reaching out to the desperate, impoverished but brave Greeks when the wicked capitalist Europeans would not.

Greece would survive, have new powerful friends, have bargaining chips that neither Europe nor America could ignore , Antichrist Communist China would have projected the use of the Yuan right in to Europe and Russia would have more than a toe-hold for military power right inside NATO.

If I was an Antichrist Communist Tsipras or Varoufakis I would be on the phone right now.

Whistleblower Andrew Maguire Says Short Selling Of Gold And Silver Was Done By Central Banks To Avoid Another Lehman Moment 

Today whistleblower and London metals trader Andrew Maguire told King World News that the recent short selling of gold and silver was done by central banks in order to avoid another Lehman moment.

Massive Derivative Exposure Sufficient To Bankrupt Major Banks

Andrew Maguire: “The massive derivative exposure is sufficient to bankrupt the (major) banks. The underlying physical underpinning these paper-driven markets (in gold and silver) is evaporating….

Short Selling Of Gold And Silver Was Done To Avoid Another Lehman Moment

“And the central planners are playing a dangerous game. So this ‘official’ (central bank) investment to short sell gold and silver was a desperation measure to try to delay another Lehman moment.

And this time, with Deutsche Bank exposed to $75 trillion of over-the-counter derivative bets, these (derivatives) are intertwined with a daisy chain of connected insolvent banks and this is a serious risk to global stability and largely unreported by the mainstream media.

Large Quantities Of Physical Gold No Longer Available

No wonder we saw this official investment in capping gold. But the physical is not available in any size at these levels and the central banks have nothing (no available physical gold) to flywheel (this suppression) any longer.

Tonight’s chart has you looking eastward at the famous Summer Triangle. Today, notice the star Deneb, the northernmost star in the Summer Triangle. Its constellation is Cygnus the Swan. In a dark country sky, you can see that Cygnus is flying along the starlit trail of the summer Milky Way.

If it’s darker out, you might recognize the Summer Triangle by noticing that there is a cross within the Triangle. The constellation Cygnus is that cross. In fact, the constellation Cygnus is sometimes called the Northern Cross.

Okay, I’ve given you a lot of names here: Summer Triangle, Cygnus, Northern Cross.

Just remember, the constellation Cygnus the Swan contains the Northern Cross. The Cross is – more or less – just another way to see the Swan. The Northern Cross is what’s called an asterism, or recognizable pattern within a constellation. In this case, the pattern is the whole constellation, pretty much. At least, I never see them any differently.

Except for one thing. Deneb is at the top of the Cross, but at the tail of the Swan (the star name “deneb” always means “tail”). The little star Albireo is at the head of the Swan, but at the base of the Cross. Whew!

Summer Triangle: Deneb and Cygnus the Swan 

The situation is worsening by the minute, and whereas the National Bank of Greece said last weekend the ‘replenishment of the ATM’s goes smoothly’, there now is a shortage of 20 EUR notes. This is due to the effect most people wanted to withdraw the maximal amount of 60 EUR, and the only possible combination at Greek ATMS (which only contain 20 and 50 EUR notes) is to withdraw 3 banknotes of 20 EUR. This leads to surrealistic situations where shops and supermarkets are unable to give their customers change.

Cash On A Greek Bank Account? *Poof* It’s Gone! 

5:06 PM Massive Lightening Strike

4:27 p.m. update: We still have some heavy-rainers with some thunder and lightning moving through the immediate metro toward the southeast. The storms are starting to converge into a broken line as the punch through the area, which based on radar seems likely to be past the Beltway by around 5:30 p.m. Behind this main line of storms, we still have the chance for weaker storms and showers but it’s likely the worst will be over by then.

July 4, 2015 Thunder Storms in D.C. 

4:06 p.m. update: The National Park Service has activated its “safe haven” protocol, which means museums and federal buildings will be opened so that people on the Mall can take shelter during the storms. These storms have some very heavy rain and also some lightning, so take advantage of the shelter and stay safe.

3:55 p.m. update: Storms are firing in the Beltway now and are moving east-southeast. Another batch of heavy storms are moving in behind this. In other words — expect heavy rain and some lightning on and off for the next couple of hours.

The Foo Fighters concert at RFK has been delayed and people are being told to evacuate, but so far they’re allowed to stay in the concourse while the storms pass.

Point Within The Circle July 4th Sirius 

mARC 3 11MaP*S

Canadian entrepreneur, libertarian and anarcho-capitalist activist, Jeff Berwick is interviewed by Chuck Horton for Double Crossed Radio where he issues a dire warning to “get out of the U.S. by the end of the year.”

Berwick recently wrote and article titled “Escape From Amerika: 35 Percent f Americans Want To Leave The Land Of The Free,” discussing a TransferWisepoll which showed that 35 percent of Americans want to leave the the U.S., but rather than breaking down the reasons of why people wanted to leave the U.S., he details the reasons given by those that want to stay.

CNBC reports: “A recent online poll of more than 2,000 adults by TransferWise, a peer-to-peer money transfer service based in the United Kingdom, revealed that 35 percent of American-born residents and emigrants would consider leaving the United States to live in another country.”

This may come as quite a surprise to many patriotic Americans who still for some reason believe they live in the “land of the free.” It comes as no surprise to us. We think this number may double or even reach near 100% by the time all is said and done with the collapse of the US dollar (along with the faux economy and social infrastructure).

You can read his analysis on those reasons at The Dollar Vigilante.

Before offering a brief synopsis of the interview with Berwick you will hear in the embedded interview below, it is noteworthy to highlight that while the poll represents opinions, the latest numbers from the U.S. Treasury Department show that record numbers of Americans have already renounced citizenship in 2015, as shown in the graph below.

Topics include: Supreme courts make the congress irrelevant & take power from the states, NDAA, TPP, rapid roll out of the NWO, cashless society, you cant free those who don’t see their chains, vanishing privacy, rise of civil forfeiture, most people unaware it is happening, involuntary social contract, the power of the net to propagate counter narrative, we are in the end stages, US government out of control and other counties getting sick of it, Jeff attends the G7 and infiltrates Bilderberg, fake journalism in the main street media, burgeoning freedom in Guatemala, expatriation, Ecuador, Estonia, Cambodia, Columbia, Panama, relative freedom and safety with the US, Liberland, Hong Kong and much more…


One week ago, we first explained that as the Cyprus bail-in “blueprint” scenario unfolds, the one final, and most important, remaining variable in the ongoing Greek drama, soon to devolve to tragedy, is how big the ECB’s ELA haircuts would be in the case of a No vote, which would be the first catalyst of a depositor haircut.

Then, overnight, in a report since denied by both the Greek finance ministry and by the European Banking Authority Plan, the pro-Europe FT did yet another hit piece on Greece desperate to push those Greek voters on the fence ahead of tomorrow’s referendum to vote “Yes” (just think of the lost advertising revenue if say Deutsche Bank were to go under).

Greek banks are preparing contingency plans for a possible “bail-in” of depositors amid fears the country is heading for financial collapse, bankers and businesspeople with knowledge of the measures said on Friday.

The plans, which call for a “haircut” of at least 30 per cent on deposits above €8,000, sketch out an increasingly likely scenario for at least one bank, the sources said.

Ignoring whether the FT is now merely a venue used by conflicted parties to publish pro-Europe, anti-Syriza hit piecestthat benefit “bankers and businesspeople with knowledge of the measures” and are promptly refuted, the article does bring up a relevant point: if the ECB does escalate the ELA collateral haircuts, something we analyzed in our own piece last week, what kind of haircut scenarios are possible, and will “insured” deposits under €100,000 be indeed made whole, or will the bail-in affect, as the FT suggested, everyone with over €8,000 in savings?

Regarding the first part of the question, what are the possible scenarios, JPM had this to say yesterday when evaluating the history of bail-ins in Europe in recent years:

If the deterioration in asset quality means there is no sufficient collateral to cover ELA claims, either the ECB (via its ELA residual claim) or domestic depositors will have to suffer a loss. Our understanding is that there are no clear rules on whether this ELA residual claim will be ranked above depositors or not. In fact EU policymakers adopted different and inconsistent approaches in the past when faced with bank insolvencies:

In the case of Cypriot banks, depositors were hit while senior bond holders were spared, so seniority was not respected. ELA claims were also protected. Deposits of foreign branches were protected in the case of Cyprus while deposits of domestic branches were hit. This is the opposite of what happened to Iceland.
In the case of Ireland, which also had a big banking system relative to the size of its economy, only sub debt holders, accounting for a very small portion of total creditors, were hit. No depositors were hit, in either domestic or foreign branches. In the case of SNS, sub debt holders were wiped out and reports suggest that the Dutch government came close to imposing losses on senior bond holders and was only prevented from doing so because of unsecured intergroup loans between SNS bank and Reaal insurance that would be subjected to the same losses as senior bond holders.

In other words, Europe will do what it always does: make it up as it goes alone. However, one notable difference between Cyprus and Greece is that the former held the deposits of a number of wealthy Russian oligarchs, which skewed the deposit distribution a la the 80/20 rule, and permitted smaller depositors to be saved while the Russians took the bulk of the hits (an outcome which according to some led to the suicide of Russian billionaire in exile, Boris Berezovsky).

Will Greek Depositors Under €100,000 Be Spared In Case Of A “Bail-In” 

Unlike Cyprus, Greece does not have the luxury of several massive depositors. In fact, according to JPM, the distribution of deposits appears to be relatively flat. JPM continues:

… under a stress scenario of prolonged impasse, Greek depositors will be likely hit while ELA claims are protected. There is currently €120bn of deposits with Greek banks. A haircut increase on ELA collateral assets from our currently estimated level of 43% to 60%, for example, would require a €26bn deposit haircut or 20% of outstanding bank deposits assuming for simplicity no available buffer from shareholders or bond holders. A bigger increase in the collateral haircut, for example to 75%, would require a €50bn deposit haircut or 40% of outstanding bank deposits.

Whereas we disagree with JPM’s calculation due to our baseline assumption that the current haircut level is more in the 48% region, we do agree with the directionality. As a reminder, this was our own math as laid out last week:

But what does this mean for ordinary Greeks, those who have negligible amounts still held by Greek banks despite our recurring pleas to withdraw their funds ahead of just this eventuality? Sadly, nothing good. Here is JPM’s conclusion:

Could deposits below €100k be protected as it happened in Cyprus? The answer depends on the total amount of deposits above €100k. If there are enough of these large deposits above €100k, then most likely any required deposit haircut will be inflicted on these depositors only. There are no recent data on how big this universe of large deposits is. The most recent data from the European Commission suggest that at the end of 2012, covered (i.e. those below €100k) represented 75% of eligible Greek deposits. We suspect this number is now significantly higher leaving little room for depositors with less than €100k to be spared. And the reserves that the Greek state has to back its bank deposit guarantee are miniscule, likely not more than a couple of billions euros.

Which means that unlike Cyprus, which was mostly a targeted punitive bail-in aimed almost entirely at Russian oligarchs, should the ECB indeed enact ELA haircuts which it may have to do as soon as Monday in the case of a No vote, it will be the ordinary Greeks who will see their already meager savings get haircut even more, anywhere between 30%, potentially up to 100% if the ECB were to announce the entire ELA no longer legal, pulls all funding and locks up Greek bank collateral.

Will the ECB do that? We don’t know, however Varoufakis’ gambit is simple: should the ECB engage the full Greek haircut it will incite an immediate panic and risks a run on other peripheral banks and the true spread of Greek contagion to Italy, Spain, Portugal and all other economically crushed countries where an anti-austerity politician is a frontrunner for the next leadership position. Such as France.

With 6 Hours Until The Greek Vote, This Is Where We Stand

43% No 42.5% Yes

Earlier today, Yanis Varoufakis reiterated his core thesis driving the entire Greek approach from day 1 of its negotiations with the Eurogroup: “Europe [stands] to lose as much as Athens if the country is forced from the euro after a referendum on Sunday on bailout terms.”

This is merely a recap of what we said 4 years ago when in July of 2011 we explained “How Euro Bailout #2 Could Cost Up To 56% Of German GDP

The contagion threat inherent in Europe’s alphabet soup of bailout mechanism as we explained four years ago in the post above, and as Carl Weinberg of High-Frequency Economics did hours ago in today’s edition of Barrons. Here is how the Greek contagion would spread, laid out in all its simplicity, should there be a Grexit, an outcome which the ECB could catalyze as soon as Monday in case of a “No” vote by raising ELA collateral haircuts:

The [Greek] government appears ready to renege on its debt obligations. So Greece’s creditors are going to lose money—a lot of money. Since these creditors are public entities, the losses will be borne, initially, by the public.

This crisis is about managing the resolution of bad Greek assets in a way that inconveniences creditor governments the least, forcing the least net new public borrowing, and minimizing financial system risks. The best way to do that is to avert a hard default, even if it means kicking the can down the road.
That, once again, is the Varoufakis all-in gamble, a gamble which assumes the ECB will be rational enough (in a game theory context) to appreciate the fallout of a Grexit on Europe’s creditors. Here is a qualitative determination:

Consider the ESM, Greece’s biggest creditor. Under its previous name, the European Financial Stability Facility, it loaned Greece €145 billion. If Greece defaults, the ESM, a Luxembourg corporation owned by the 19 European Monetary Union governments, will have to declare loans to Greece as nonperforming within 120 days. Accounting rules and regulators insist that financial institutions write off nonperforming assets in full, charging losses against reserves and hitting capital.

Here’s the rub: The ESM has no loan-loss contingency reserves. Its only assets—other than loans to Greece—are loans to Ireland and Portugal. Its liabilities are triple A-rated bonds sold to the public. How do you get a triple-A rating on a bond backed entirely by loans to junk-rated sovereign borrowers? Well, the governments guarantee the bonds, and because they are unfunded off-balance-sheet liabilities, they aren’t counted in their debt burdens—unless borrowers default.

If Greece defaults hard, governments will be on the hook for €145 billion in guarantees on those loans to the ESM. We expect credit-rating agencies to insist that these unfunded guarantees be funded. After all, unfunded guarantees are worthless guarantees.
And the punchline:

The strength of these guarantees is untested. Would the German Bundestag vote tomorrow to raise €35 billion by selling Bunds, the government debt, to cover Germany’s share of ESM losses on Greek bonds? That seems improbable. Bund sales of that scale, if they did occur, would flood the market, raising yields and depressing prices. If, instead, the Bundestag refused to cover its guarantees, then we would see a legal dust-up on a grand scale. With the presumption of valid guarantees, credit raters would have no choice but to downgrade ESM paper. Then losses would be borne by bondholders, and the ESM—the euro zone’s safety net and backstop—couldn’t raise money in the capital markets.

In other words, Grexit would usher in a pandemonium of unheard proportions because when the ESM, EFSF and countless other bailout mechanism were postulated, none even for a minute evaluated the scenario that is being flouted with ease, and, paradoxically, by the ECB itself most of all: an ECB which stands to lose the most…

A hard default would produce other losses to be covered. The ECB would have to be recapitalized after it writes off the €89 billion it has loaned the Greek banks to keep them liquid. The ECB would need to call for a capital contribution from its shareholders—the governments.
… not to mention any last shred of confidence it may have had.

But wait, there’s more:

The Greek Bluff In All Its Glory: Presenting The Grexit “Falling Dominoes”

And don’t forget that Greek banks owe the Target2 bank clearinghouse, a key link in the interbank payment system, an estimated €100 billion. The governments are on the hook to make good that shortfall, too. The cash required to cover these contingencies would have to be funded with new bond sales.
The conclusion is incidentally, identical to what Zero Hedge said back in the summer of 2011: “the ultimate loser in a Greek default would be the euro-zone sovereign-bond market, which is already vulnerable. ” The only difference is that this time, yields are near all-time lows, and durations are high. Ironically, even the smallest fluctuations in yield mean a volatile response in prices, and an immediate crippling of the bond market. Perhaps most ironic is that Europe’s bond market is far less prepared to deal with Greek contagion now than when Italian bonds were blowing out and trading at 7%, just because everyone has double down and gone all-in that the ECB can contain the contagion. If it can’t, it’s very much game over.

This is what Varoufakis’ likewise all-in gamble on the future of Greece boils down to.

And just so we have numbers to work with, here courtesy of Bawerk’s fantastic summary, is a way to quantify what a Grexit and the resultant falling dominoes would look like for Europe:

Simplistic representation of falling dominos not enough? Then here is the full breakdown of implicit exposure every Euro Area country has toward a Greek exit, because it is not just the EFSF dominoes, it is also SMP, MRO, ELA, Target2, and oh my…

And tying it all together, here is some more from “Eugen von Böhm-Bawerk“:

The Germans, French and IMF alike reluctantly admit so much, but they cannot give the Greeks any debt relief because as soon as Greece starts to default on their obligations on the off-balance sheet guarantees extended by the euro countries the whole system could fall like dominoes.

The problem, however, is that the IMF already did admit that Greece does need at least a 30% haircut, implying that at least one member of the grand status quo, under pressure form the US, already got the tap on the shoulder and has been told to prepare for more falling dominoes. Which leads to even more questions:

What would happen if Italy suddenly got an extra funding requirement of more than €60bn? Every euro apologist point to Italy’s primary surplus, but what good does that do when your debt is over 130 per cent of GDP and rising? The interest payment on that gargantuan debt load means Italy must cough up more than €75bn a year just to service liabilities already incurred. A primary surplus is a useless concept in a situation like the one Italy finds itself in. Adding another €60bn to Italy’s balance sheet could very well be the straw that breaks the Italian camel.

The French would be on the hook for around €70bn just when they have agreed with the European Commission to “slash” spending to get within the Maastricht goal of 3 per cent, in 2017!

Imagine the German peoples wrath when they learn that Merkel defied their sacrosanct constitution; a constitution that clearly state that the German people, through its Bundestag, is the sole arbiter of any act that have fiscal implications regarding the German people. The Bundestag did not approve the €42bn of ECB programs that have funded the Greek states excessive consumption.
All this is purely theoretical. For the practical implications of the above “falling domino” chain, we go back to Carl Weinberg:

What if a downgrade of ESM paper causes a hedge fund to fail, which triggers the demise of the bank that handles its trades? The costs of fixing failed institutions will also, of course, fall on governments. The ultimate cost of Greece’s default is yet to be seen, but it is surely larger than it seems.
Contained? We think not. And neither does Varoufakis, which is why he is willing to bet the fate of the Greek people on that most critical of assumptions. The only outstanding question is what does Mario Draghi, and thus Goldman Sachs, believe, and even more importantly, whether the Greek people have enough faith in Varoufakis to ”pull it” off…

Antichrist NWO 666 Crypto Fascist 911 WAR CALL 

NOTE: For a quick confirmation go to the 1:40: 00 minute mark in the video link below to hear Antichrist NWO 666 Obozo The American Homosexual POTUS Pride Clown confirm his Masonic Occult July 4, 1776 2nd Of Sirius 911 call.

It’s almost impossible to keep anything secret these days – not even the core text of a hyper-secret trade deal, the Trade in Services Agreement (TiSA), which has spent the last two years taking shape behind the hermetically sealed doors of highly secure locations around the world.

According to the agreement’s provisional text, the document is supposed to remain confidential and concealed from public view for at least five years after being signed! But now, thanks to WikiLeaks, it has seeped to the surface.

The Really, Really Good Friends of Services

TiSA is arguably the most important – yet least well-known – of the new generation of global trade agreements. According to WikiLeaks, it “is the largest component of the United States’ strategic ‘trade’ treaty triumvirate,” which also includes the Trans Pacific Partnership (TPP) and the TransAtlantic Trade and Investment Pact (TTIP).

“Together, the three treaties form not only a new legal order shaped for transnational corporations, but a new economic ‘grand enclosure,’ which excludes China and all other BRICS countries” declared WikiLeaks publisher Julian Assange in a press statement. If allowed to take universal effect, this new enclosure system will impose on all our governments a rigid framework of international corporate law designed to exclusively protect the interests of corporations, relieving them of financial risk, and social and environmental responsibility.

Thanks to an innocuous-sounding provision called the Investor-State Dispute Settlement, every investment they make will effectively be backstopped by our governments (and by extension, you and me); it will be too-big-to-fail writ on an unimaginable scale.

LEAKED: How the Biggest Banks Are Conspiring to Rip Up Financial Regulations around the World

Yet it is a system that is almost universally supported by our political leaders. In the case of TiSA, it involves more countries than TTIP and TPP combined: The United States and all 28 members of the European Union, Australia, Canada, Chile, Colombia, Costa Rica, Hong Kong, Iceland, Israel, Japan, Liechtenstein, Mexico, New Zealand, Norway, Pakistan, Panama, Paraguay, Peru, South Korea, Switzerland, Taiwan and Turkey.

Together, these 52 nations form the charmingly named “Really Good Friends of Services” group, which represents almost 70% of all trade in services worldwide.

As WOLF STREET previously reported, one explicit goal of the TiSA negotiations is to overcome the exceptions in GATS that protect certain non-tariff trade barriers such as data protection. For example, the draft Financial Services Annex of TiSA, published by Wikileaks in June 2014, would allow financial institutions, such as banks, to transfer data freely, including personal data, from one country to another – in direct contravention of EU data protection laws.

But that is just the tip of the iceberg. According to the treaty’s Annex on Financial Services, we now know that TiSA would effectively strip signatory governments of all remaining ability to regulate the financial industry in the interest of depositors, small-time investors, or the public at large.

1. TiSA will restrict the ability of governments to limit systemic financial risks. TiSA’s sweeping market access rules conflict with commonsense financial regulations that apply equally to foreign and domestic firms. One of those rules means that any governments that seeks to place limits on the trading of derivative contracts — the largely unregulated weapons of mass financial destruction that helped trigger the 2007-08 Global Financial Crisis — could be dragged in front of corporate arbitration panels and forced to pay millions or billions in damages.

2. TiSA will force governments to “predict” all regulations that could at some point fall foul of TiSA. The leaked TISA text even prohibits policies that are “formally identical” for domestic and foreign firms if they inadvertently “modif[y] the conditions of competition” in favor of domestic firms:

For example, many governments require all banks to maintain a minimum amount of capital to guard against bank collapse. Even if the same minimum is required of domestic and foreign-owned banks alike, it could be construed as disproportionately impacting foreign-owned banks… This common financial protection could thus be challenged under TISA for “modifying the conditions of competition” in favor of domestic banks, despite governments’ prerogative to ensure the stability of foreign-owned banks operating in their territory.

3. TiSA will indefinitely bar new financial regulations that do not conform to deregulatory rules. Signatory governments will essentially agree not to apply new financial policy measures which in any way contradict the agreement’s emphasis on deregulatory measures.

4. TiSA will prohibit national governments from using capital controls to prevent or mitigate financial crises. As we are seeing in Greece right now, capital controls are terrible. But for a government facing the complete breakdown of the financial system, they serve as a last resort for restoring some semblance of order. Even the IMF, which urged countries to abandon capital controls in the Washington Consensus years of the 1990s, recently endorsed capital controls as a means of maintaining the stability of the financial system. But if TiSA is signed, the signatory governments will be prohibited from using them:

The leaked texts prohibit restrictions on financial inflows – used to prevent rapid currency appreciation, asset bubbles and other macroeconomic problems – and financial outflows, used to prevent sudden capital flight in times of crisis.

5. TiSA will require acceptance of financial products not yet invented. Despite the pivotal role that new, complex financial products played in the Financial Crisis, TISA would require governments to allow all new financial products and services, including ones not yet invented, to be sold within their territories.

6. TiSA will provide opportunities for financial firms to delay financial regulations. If signed, TISA will require governments to address financial firms’ criticism of a regulatory proposal when publishing a final version of the regulation. Even then, governments would be obliged to wait a “reasonable time” before allowing the new regulation to take effect. In the United States, such requirements have produced delays sometimes lasting years in the enactment of urgently needed financial and other safeguards. If the same process is applied across the globe, it would make it almost impossible for government to constrain the activities of the world’s largest banks.

What that would likely mean is that when (not if) a new global financial crisis takes place in the not-too-distant future, the banks will once again be on hand to lead efforts to clean up and rebuild with taxpayer money the very sector that they themselves have destroyed. Lather, rinse, repeat. Only this time, on an even grander scale. By Don Quijones, Raging Bull-Shit.

Global banking behemoth HSBC is not having a good 2015. Now, is it just in dire financial straits? Read… Does HSBC Know Something Other Banks Don’t?

Get rid of the fag flag and burn it into oblivion!

Russian Government Now Wants To Ban The Antichrist Homosexual Flag, Saying That “Gay Delirium Is Threatening The Entire Civilized World.” 

“This effectively strips us of all our First Amendment rights,” the Kleins, owners of Sweet Cakes by Melissa, which has since closed, wrote on their Facebook page. “According to the state of Oregon we neither have freedom of religion or freedom of speech.”

State Silences Bakers Who Refused to Make Cake for Antichrist Lesbian Couple, Fines Them $135K 

Tropical Storm “Linfa” (Egay) to hit northern Luzon, Philippines late July 4

Astronomers are gearing up for high-energy fireworks coming in early 2018, when a stellar remnant the size of a city meets one of the brightest stars in our galaxy. The cosmic light show will occur when a pulsar discovered by NASA’s Fermi Gamma-ray Space Telescope swings by its companion star. Scientists plan a global campaign to watch the event from radio wavelengths to the highest-energy gamma rays detectable.

Astronomers Predict Fireworks from Rare Stellar Encounter in 2018

The pulsar, known as J2032+4127 (J2032 for short), is the crushed core of a massive star that exploded as a supernova. It is a magnetized ball about 12 miles across, or about the size of >>Washington<<, weighing almost twice the sun’s mass and spinning seven times a second. J2032’s rapid spin and strong magnetic field together produce a lighthouse-like beam detectable when it sweeps our way. Astronomers find most pulsars through radio emissions, but Fermi’s Large Area Telescope (LAT) finds them through pulses of gamma rays, the most energetic form of light.

J2032 was found in 2009 through a so-called blind search of LAT data. Using this technique, astronomers can find pulsars whose radio beams may not be pointed precisely in our direction and are therefore much harder to detect.

“Two dozen pulsars were discovered this way in the first year of LAT data alone, including J2032,” said David Thompson, a Fermi deputy project scientist at NASA’s Goddard Space Flight Center in Greenbelt, Maryland. “Nearly all of them would not have been found without Fermi.”

Once they knew exactly where to look, radio astronomers also were able to detect J2032. A team at the Jodrell Bank Centre for Astrophysics at the University of Manchester in the U.K. kept tabs on the object from 2010 through 2014. And they noticed something odd.

“We detected strange variations in the rotation and the rate at which the rotation slows down, behavior we have not seen in any other isolated pulsar,” said Andrew Lyne, professor of physics at the University of Manchester. “Ultimately, we realized these peculiarities were caused by motion around another star, making this the longest-period binary system containing a radio pulsar.”

The massive star tugging on the pulsar is named MT91 213. Classified as a Be star, the companion is 15 times the mass of the sun and shines 10,000 times brighter. Be stars drive strong outflows, called stellar winds, and are embedded in large disks of gas and dust.

“When we discovered this pulsar in 2009, we noticed that it was in the same direction as this massive star in the constellation Cygnus, but our initial measurements did not give any evidence that either star was a member of a binary system,” explained Paul Ray, an astrophysicist at the Naval Research Laboratory in Washington. “The only way to escape that conclusion was if the binary system had a very long orbital period, much longer than the longest known pulsar-massive star binary at the time, which seemed unlikely.”

Following an elongated orbit lasting about 25 years, the pulsar passes closest to its partner once each circuit. Whipping around its companion in early 2018, the pulsar will plunge through the surrounding disk and trigger astrophysical fireworks. It will serve as a probe to help astronomers measure the massive star’s gravity, magnetic field, stellar wind and disk properties.

Several features combine to make this an exceptional binary. Out of six similar systems where the massive star uses hydrogen as its central energy source, J2032’s has the greatest combined mass, the longest orbital period, and, at a distance of about 5,000 light-years, is closest to Earth.

“This forewarning of the energetic fireworks expected at closest approach in three years’ time allows us to prepare to study the system across the entire electromagnetic spectrum with the largest telescopes,” added Ben Stappers, a professor of astrophysics at the University of Manchester.

Astronomers think the supernova explosion that created the pulsar also kicked it into its eccentric orbit, nearly tearing the binary apart in the process. A study of the system led by Lyne and including Ray and Stappers was published June 16 in the journal Monthly Notices of the Royal Astronomical Society.

Tens of thousands of Greeks flooded the streets of central Athens on Friday evening ahead of Sunday’s referendum.

Both the “yes” crowd and the “no” crowd were out in force with the former camped out in front of Olympic stadium and the latter in front of Parliament. Each rally boasted participation of more than 20,000 people according to local police.

“I call you to say again a big proud ‘no’ to ultimatums on Sunday,” PM Alex Tsipras shouted, in a speech to the “No” supports. “We can also say it in German: Nein, Frau Merkel, Nein,” another speaker quipped.

Indeed, the size of the rallies was quite impressive, if somewhat disquieting.

As you can see from the drone footage below, Athenians are restless and we can’t help but wonder what the scene will be in the streets of Athens on Sunday evening once the results are tallied and one of these two dueling groups is forced to acquiesce to the other’s vision of Greece’s future.

A Drone’s Eye View Of The Massive Numbers Behind The Greek “No” Vote

The IMF Debt Sustainability Analysis report on Greece that came out this week has caused a big stir. We now know that the Fund’s analysts confirm what Syriza has been saying ever since they came to power 5 months ago: Greece needs debt relief, lots of it, and fast.

We also know that Europe tried to silence the report. But what’s most interesting is that this has been going on for months, as per Reuters. Ergo, the IMF has known about the -preliminary- analysis for months, and kept silent, while at the same time ‘negotiating’ with Greece on austerity and bailouts.

And if you dig a bit deeper still, there’s no avoiding the fact that the IMF hasn’t merely known this for months, it’s known it for years. The Greek Parliamentary Debt Committee reported three weeks ago that it has in its possession an IMF document from 2010(!) that confirms the Fund knew even at that point in time.

That is to say, it already knew back then that the bailout executed in 2010 would push Greece even further into debt. Which is the exact opposite of what the bailout was supposed to do.

The 2010 bailout was the one that allowed private French, Dutch and German banks to transfer their liabilities to the Greek public sector, and indirectly to the entire eurozone‘s public sector. There was no debt restructuring in that deal.

Reuters yesterday reported that “Publication of the draft Debt Sustainability Analysis laid bare a dispute between Brussels and [the IMF] that has been simmering behind closed doors for months.

But that’s not the whole story. Evidently, there was a major dispute inside the IMF as well. The decision to release the report was apparently taken without even a vote, because it was obvious the Fund’s board members wanted the release. The US played a substantial role in that decision. Why the timing? Hard to tell.

The big question that arises from this is: what has been Christine Lagarde’s role in this charade? If she has been instrumental is keeping the analysis under wraps, she has done the IMF a lot of reputational damage, and it’s getting hard to see how she could possibly stay on as IMF chief. She has seen to it that the Fund has lost an immense amount of trust in the world. And without trust, the IMF is useless.

This Is Why The Euro Is Finished

And while we’re at it, ECB chief Mario Draghi, who is also a major Troika negotiator, made a huge mistake this week in -all but- shutting down the Greek banking system, a decision that remains hard to believe to this day. The function of a central bank is to make sure banks are liquid, not to consciously and willingly strangle them.

How Draghi, after this, could stay on as ECB head is as hard to see as it is to do that for Lagarde’s position. And we should also question the actions and motives of people like Jean-Claude Juncker and Jeroen Dijsselbloem.

They must also have known about the IMF’s assessment, and still have insisted there be no debt relief on the negotiating table, although the analysis says there cannot be a viable deal without it.

One can only imagine Varoufakis’ frustration at finding the door shut in his face every single time he has brought up the subject. Because you don’t really need an IMF analysis to see what’s obvious.

Which is exactly why there is a referendum tomorrow: Alexis Tsipras refused to sign a deal that did not include debt restructuring. It would be comedy if it weren’t so tragic, most of all for the people of Greece.

The reason why all Troika negotiators should face very serious scrutiny is that they have willingly kept information behind that should have been crucial in any negotiation with Greece. The reason is obvious: it would have cost Europe’s taxpayers many billions of euros.

But that should never be a reason to cheat and lie. Because once you do that, you’re tarnished for life. So in an even slightly ideal world, they should all resign. Everybody who’s been at that table for the Troika side.

And I can’t see how Angela Merkel would escape the hatchet either. She, too, must have known what the IMF analysts knew. And decided to waterboard the Greek population rather than be forced to explain at home that her earlier decisions (2010) failed so dramatically that her voters would now have to pay the price for them. No, Angela likes to be in power. More than she likes for the Greeks to have proper healthcare.

Understandable, perhaps, but unforgivable as well. Someone should take this entire circus of liars and cheaters and schemers to court. They’re very close to killing the entire EU with their machinations. Not that I mind, the sooner it dies the better, but the people involved should still be held accountable. It’s not even the EU itself which is at fault, or which is a bad idea, it’s these people.

But fear not, there’s no tragedy that doesn’t also have a humorous side. And I don’t mean that to take anything away from the Greek people’s suffering.

Brett Arends at MarketWatch wrote a great analysis of his own, and get this, also based on IMF numbers. Turns out, the biggest mistake for Greece and Syriza is to want to stay inside the eurozone. The euro has been such a financial and economic disaster, it’s hard to fathom that nobody has pointed this out before. Stay inside, and there’s no way you can win.

I find this a hilarious read in face of what I see going on here in Greece. It makes everything even more tragic.

Stop Lying To The Greeks — Life Without The Euro Is Great

Will the euro-fanatics please stop lying to the people of Greece? And while they’re at it, will they please stop lying to the rest of us as well? Can they stop pretending that life outside the euro — for the Greeks or any other European country — would be a fate worse than death? Can they stop claiming that if the Greeks go back to the drachma, they will be condemned to a miserable existence on the dark backwaters of European life, a small, forgotten and isolated country with no factories, no inward investment and no hope? Those dishonest threats are being leveled this week at the people of Greece, as they gear up for the weekend’s big referendum on more austerity.

The bully boys of Brussels, Frankfurt and elsewhere are warning the Greek people that if they don’t do as they’re told, and submit to yet more economic leeches, they may end up outside the euro … at which point, of course, life would stop. Bah.

Take a look at the chart. It compares the economic performance of Greece inside the euro with European rivals that don’t use the euro. Those other countries cover a wide range of situations, of course – from rich and stable Denmark, to former Soviet Union countries, to Greece’s neighbor Turkey, which isn’t even in the EU. But they all have one thing in common.
During the past 15 years, while Greece has been enjoying the “benefits” of having Brussels run their monetary policies, those poor suckers have all been stuck running their own affairs and managing their own currencies (if you can imagine). And you can see just how badly they’ve suffered as a result.

They’ve crushed it. Romania, Turkey, Poland, Sweden, Croatia — you name it, they’ve all posted vastly better growth rates than Greece. The data come from the IMF itself. It measures growth in gross domestic product, per person, in constant prices (in other words, with price inflation stripped out). Greece adopted the euro in 2001.

And after 14 years in the same club as the big boys, they are back right where they started. Real per-person economic growth over that time: Zero. Meanwhile Romania, with the leu, has only … er … doubled. Everyone else is up. The Icelanders, who suffered the worst financial catastrophe on the planet in 2008, have nonetheless managed to grow.

Yes, all data points have caveats. Each country has its own story and its own advantages and disadvantages. But the overall picture is clear: The euro has either caused Greece’s disastrous economic performance, or at least failed to prevent it.

What I find amazing about the euro-fanatics is that they just don’t seem to care about facts at all. They carry on repeating the same claims about the alleged miracle cure of their currency, no matter what happens. You can hit them over the head with the latest IMF World Economic Outlook and they carry on droning, unfazed.

I was in England during the 1990s when those people were warning that if the Brits didn’t give up the pound sterling and join the euro, they were doomed as well. For a laugh, I just went through news archives on Factiva and refreshed my memory.

Britain without the euro would be an “orphan country,” petted, humored but ignored, warned one leading figure. Britain would lose all influence and status. It would become a marginal country outside the mainstream of Europe. It would lose “a million jobs.” Factories would close. The car industry would collapse. Foreign investors would walk away because of Britain’s isolation.

Exports would plummet because of exchange-rate fluctuations. The City of London, Britain’s financial district, would lose out to Frankfurt. The London Stock Exchange would be reduced to a local backwater. Tumbleweeds would blow in the streets. (OK, I made that one up.)

And here we are today. Since 1992, when the single currency project began taxiing for takeoff, the countries on board have seen total economic growth of 40%, says the IMF. Poor old Great Britain, stuck back at the departure lounge with its miserable pound sterling? Just 67%. Bah.
This currency that Greece is fighting so hard to be part of is in fact strangling it. The reason for this lies in the structure of the EMU. Which makes it impossible for individual countries to adapt to changing circumstances. And circumstances always change. As a country, you need flexibility, you need to be able to adapt to world events.

You need to be able to devalue, you need a central bank to be your lender of last resort. Mario Draghi has refused to be Greece’s lender of last resort. That can’t be, that’s impossible. there is no valid economic reason for such an action, it’s criminal behavior. But the eurozone structure allows for such behavior.

In ‘real life’, where a country has its own central bank, the only reason for it to refuse to be lender of last resort would be political. And it is the same thing here. It’s about power. That’s why Greece’s grandmas can’t get to their meagre pensions. There is no economic reason for that.

In the eurozone, there’s only one nation that counts in the end: Germany. The eurozone has effectively made it possible for Angela Merkel to save her domestic banks from losses by unloading them upon the Greeks. This would not have been possible had Greece not been a member of the eurozone.

That this took, and still takes, scheming and cheating, is obvious. But that is at the same time the reason why either all Troika negotiators must be replaced, and by people who don’t stoop to these levels, or, and I think that’s the much wiser move, countries should leave the eurozone.

Look, it’s simple, the euro is finished. It won’t survive the unmitigated scandal that Greece has become. Greece is not the victim of its own profligacy, it’s the victim of a structure that makes it possible to unload the losses of the big countries’ failing financial systems onto the shoulders of the smaller. There’s no way Greece could win.

The damned lies and liars and statistics that come with all this are merely the cherry on the euro cake. It’s done. Stick a fork in it.

The smaller, poorer, countries in the eurozone need to get out while they can, and as fast as they can, or they will find themselves saddled with ever more losses of the richer nations as the euro falls apart. The structure guarantees it.


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