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TOP MONEY STORIES -/ TOP GLOBAL STORIES



Monday, June 29, 2015

Disaster For Markets And Economies Worldwide And Chaos On A Global Scale





On the heels of another chaotic trading week in major markets, today one of the top economists in the world sent King World News an incredibly powerful piece warning people to expect disaster for markets and economies worldwide and chaos on a global scale.  Below is the fantastic piece from Michael Pento.
May 16 – (King World News) – Central banks are incapable of saving economies or creating growth. The only thing a central bank can do is create inflation. These market manipulators set forth on a journey seven years ago to save the world by engaging in massive monetary manipulation, euphemistically called Quantitative Easing (QE), and a zero interest rate policy known as (ZIRP)….
Continue reading
 

Friday, June 19, 2015

GLOBAL ECONOMY - FINANCIAL MARKETS - POLITICS: Starvation Is The Price Greeks Will Pay For Remain...

GLOBAL ECONOMY - FINANCIAL MARKETS - POLITICS: Starvation Is The Price Greeks Will Pay For Remain...: GIVE THE OPPORTUNITY TO THE GREDITORS ... NOT TO GET THE MONEY BACK !! THEN THE GREEK PEOPLE CAN GO TO SLEEP OR...PLAY TAVLI !!! ...

Starvation Is The Price Greeks Will Pay For Remaining In The EU — Paul Craig Roberts

GIVE THE OPPORTUNITY TO THE GREDITORS ...
NOT TO GET THE MONEY BACK !!
THEN THE GREEK PEOPLE CAN GO TO SLEEP
OR...PLAY TAVLI !!!

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Starvation Is The Price Greeks Will Pay For Remaining In The EU — Paul Craig Roberts




Starvation Is The Price Greeks Will Pay For Remaining In The EU
Syriza, the new Greek government that intended to rescue Greece from austerity, has come a cropper. The government relied on the good will of its EU “partners,” only to find that its “partners” had no good will. The Greek government did not understand that the only concern was the bottom line, or profits, of those who held the Greek debt.
The Greek people are as out to lunch as their government. The majority of Greeks want to remain in the EU even though it means that their pensions, their wages, their social services, and their employment opportunities will be reduced. Apparently for Greeks, being a part of Europe is worth being driven into the ground.
The alleged “Greek crisis” makes no sense whatsoever. It is obvious that Greece cannot with its devastated economy repay the debts that Goldman Sachs hid and then capitalized on the inside information, helping to cause the crisis. If the solvency of the holders of the Greek debt, apparently the NY hedge funds and German and Dutch banks, depends on being repaid, the European Central Bank could just follow the example of the Federal Reserve and print the money to secure the Greek debt. The ECB is already printing 60 billion euros a month to save the European financial system, so why not include Greece?
A conservative might say that such a course of action would cause inflation, but it hasn’t. The Fed has been creating money hands over fists for seven years, and according to the government there is no inflation. We even have negative interest rates attesting to the absence of inflation. Why will creating money for Greece create inflation but not for Goldman Sachs, Citibank, and JPMorganChase?
Read more....
http://www.paulcraigroberts.org/2015/06/15/starvation-price-greeks-will-pay-remaining-eu-paul-craig-roberts/

*Fotos added

Tuesday, June 16, 2015

GREECE - TROIKA : WHO HOLDS THE CARDS ? IS IT A RUSSIAN RULETTE ?

Tuesday, June 16, 2015


Stand Still...and who Holds the Cards: Greece or Troika ?

 
 


 
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Plug To Be Pulled On Greece
Then after the FOMC announcement, on Thursday EU financial ministers meet. There is a good chance that they will finally pull the plug on Greece. 
I keep focusing on Greece, Eric, because it is a land mine just waiting for someone to step on. When they do, the political ramifications could blow up the euro and maybe even ECB itself because it has so much exposure to Greece compared to its capital base. 
The underlying problem is that financial decisions at the ECB are being made for political reasons. Politicians are trying to pretend that the ECB can continue to create money out of thin air be keep giving Greece a liquidity lifeline. This misguided thinking has consequences, and reality is about to hit home, which raises an interesting question.

But Greece Holds The Cards
 
 
Which side is closer to reality? Greece or the so-called troika of the IMF, ECB and EU? I think Greece holds all the cards. 
Greece is still generating income from tax revenue, even in its weakened economic state. The problem Greece faces is that it cannot possibly meet its social spending commitments as well as carry its crippling debt burden. 
The lenders have refused to grant Greece any debt relief, which was the basic plank of Greece’s negotiating stance with the troika. The troika opposed debt relief because if they grant it to Greece, for the sake of European unity it will need to be granted to every other overleveraged welfare state, which is more than half of the countries in Europe.
Greece can go it alone. It won’t be easy, but it can be done. And it will be much easier to accomplish without the €320 billion debt burden hanging over its head. Greece can just walk away, like Greece and many other countries have repeatedly done throughout history. 
Greece wouldn’t be able to borrow again for a long while, but it probably shouldn’t anyway because it has learned its lesson – debt can be unmanageable.
Greece Preparing For Default
There is one last point about Greece worth mentioning, Eric:  Greece is clearly preparing for a default. 
The Athens government has asked all cities and other governmental bodies to move their available cash into accounts at the central bank. This is being reported in the mainstream media as a way for the central government to get its hands on more cash, but that is not correct. 
It is to prevent the ECB from taking this cash of governmental bodies when the ECB finally bails-in the private Greek banks. In other words, in a bail-in the ECB takes the euros deposited in private banks, but not the euros deposited in the central bank. So by putting their euro deposits into the central bank, Greece’s governmental bodies can keep their money out of the hands of the ECB. It’s just more evidence that Greece – not the troika – holds all the cards."
Read more....
KING WORLD NEWS