Iran Nuke Deal No Deal, Greek Crisis Latest, China Market Plunge, NYSE Glitch
By Greg Hunter’s USAWatchdog.com (WNW 198 7.10.15)
Have you ever noticed this many strange things going on at the same time? The Iran nuke deal is going poorly. Greece is looking like it will be plunged into an even bigger depression. China stock market has turned from hero to zero in a huge market plunge in the last few weeks. The US stock markets are gyrating up and down with big swings. There is major hacking going on from stock exchanges to the US government, and Obama and Congress are busy setting up secret trade deals and secret directives. What is going on? I say the end of this debt based money system is a process, and this is an ugly process.
I want to start with the Iran nuclear negotiations going on now, and they are not going good. I have predicted there is going to be no deal. The latest blurb from Iran’s Foreign Minister is him saying “Never threaten an Iranian.” This quote says it all and is screaming that negotiations are NOT going well. The Iranians have already called everybody in the Obama Administration liars and are not backing down on not allowing inspections of its military facilities. Iran also wants immediate relief from UN sanctions. This is totally opposite what the Obama Administration wants. Even if the Obama Administration caves into these demands, Congress will not approve of the deal. About the best thing Secretary of State John Kerry has said is he “will not be rushed.” At some point, you have to fish or cut bait. I would like a meaningful deal, but the data is flashing to me there will be no deal to curtail Iran’s nuclear program. After that is realized, the next question will be, now what?
The Greeks want another $54 billion in bailout money from the EU and some big debt cuts. Who knows how this will end, but it can’t be good as a Sunday deadline looms. Greek banks are already closed and broke for the most part. A “no deal” vote by the EU will surely plunge Greece, and probably the rest of the EU, into turmoil. There are very big problems with Spain, Italy and Portugal. They all have at least 100% debt to GDP. We all know when debt to GDP goes to 100%, bad things happen. In Italy and Portugal, the debt to GDP is about 130%. It’s not just Greece that needs a debt cut, but many other countries need a debt cut because they cannot pay—period. If the debt is cut, the value of the bonds will be cut, and then all hell will break loose. We are pretending the world is solvent when it is insolvent and drowning in debt that will never be repaid, and that includes the US.
The China miracle stock market that has gone up more than 130% in the last year has turned into a nightmare. Some say the US spy agencies have attacked it, but a good friend of mine that lives in China and teaches economics says it is just a bubble. He tells me the Chinese people have all been playing the market and have been doing it with borrowed money. This is just the bursting of a very big bubble. One day it’s down 6% and the next it’s up 6%. That is not the sign of a healthy market.
The US stock exchange was crashed this week, and trading was suspended in what is called a “glitch.” Some speculate it was an attack; others say it was a test run for a false flag. One thing is for sure, the US is in very big debt trouble, just like the rest of the world, and it will not end well.
Join Greg Hunter as he looks at these stories and more in the Weekly News Wrap-Up.
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About the Author
Greg Hunter
Greg is the producer and creator of USAWatchdog.com. The site’s slogan is “analyzing the news to give you a clear picture of what’s really going on.” The site will keep an eye on the government, your financial interests and cut through the media spin. USAWatchdog.com is neither Democrat nor Republican, Liberal or Conservative. Before creating and producing the site, Greg spent nearly 9 years as a network and investigative correspondent. He worked for ABC News and Good Morning America for nearly 6 years. Most recently, Greg worked for CNN for shows such as Paula Zahn Now, American Morning and various CNN business shows.
The latest take is that the Greek govt had expected a “yes” vote on the referendum. The opposite result threw a monkey wrench into their plans to capitulate on austerity as they were going to have to go back to the bargaining table and pretend to work out some sort of deal. Varoufakis was poop-canned (resigned) despite the “no” vote because the Eurocrats did not want him involved. The people of Greece should realize that they are being played by both sides…
When Greece was 100 billion in debt … the bankers took her to 300 billion in debt (as of right now) … but the bankers goal is to take Greece to 1000 billion in debt (that they generate out of thin air) … THEN … the bankers will declare that “they will accept a Greek default” and payment of only 10 cents on the dollar … and this will be a great victory for the Greek people? … think about it … 10 cents on the dollar of a 1000 billion debt gives the bankers “100 percent of the 100 billion Greece originally owed the bankers” … so who are the real winners? … the Greek people who still have to pay their 100 billion debt or the Bankers?
Just like people in America who voted for “change” … the Greek people just found out this week that Tsipras was lying to them all along… and was really just a puppet on a string in the bankers back pocket … right after the Greek people voted “NO” in a National Referendum “rejecting a harsh austerity plan” Tsipras “was given orders” to turn the Referendum on its head … and has agreed to an “even harsher deal” then the one that was just rejected by the Greek people in the referendum?
In return for putting “more debt” on the Greek people’s backs (like they don’t have enough debt already they can’t pay) the Tsipras government (that was supposed to save the Greek people from the bankers) is now going to increase the Greek peoples VAT tax rate to 23%, cut subsides to the poorest pensioners, raise the pension age to 67, eliminate fuel subsides , etc. … so the question now being asked by the Greek people is: “What happened to our “No Vote” Referendum?
The answer is … the banksters pulled some strings and threw it right in the trash can!
The Greek people are now stunned and in shock (the same way we were when we voted “for change” and instead ended up with a bankster “puppet on a string”).
President On A String. . .LOL!
Bears Repeating
paul
07/12/2015 •
The Greek people are now stunned and in shock (the same way we were when we voted “for change” and instead ended up with a bankster “puppet on a string”).
What I find hilarious in all of this is the ECB castigating Greece for it’s financial irresponsibilty. Meanwhile they are preparing a Trillion plus counterfeiting operation.
Some call it QE others call it long term financial stability funding. Straight out of the 1984 George Orwell playbook. Do one thing and say another. I don’t know why Greece didn’t just print the Euros and pay their debts. The ECB and the U.S. Could hardly criticise them for doing what they are doing! Just saying…
Good point Truth.
Greg
You should take up some swimming or bicycling to lower your stress levels. It may help with blood pressure and filtering out some of the catecholamine and other stress hormone excess. We need you to keep up the good work.
We live in exciting times. Everyday brings us closer to an unknown event that is certain to shake the foundations of the world. We must remain sober-minded and refrain from earthly speculation. We know that dark forces are assembling for a final destructive battle whose goal is the capture and eternal death of human souls. Many are asleep. A great delusion is here so that even they who profess to be wise cannot discern the difference between good and evil.
The time is now for the true followers of Christ to break free and be filled with the Spirit. The time is coming when decapitation will be the price of admission into the promised land.
And I saw thrones, and they sat upon them, and judgment was given unto them: and I saw the souls of them that were beheaded for the witness of Jesus, and for the word of God, and which had not worshipped the beast, neither his image, neither had received his mark upon their foreheads, or in their hands; and they lived and reigned with Christ a thousand years.
Revelation 20:4
https://www.youtube.com/watch?v=H-61MaWETiU
“Fear God, and give glory to Him; for the hour of His judgment is come.” Revelation 14:7
Spain has not yet outlawed dissent from outside its borders (where the right to free speech still exists). Is Spain next going to outlaw the right to freedom of religious belief within its borders? The police have been given “extra power” to demand citizens compliance to the State … and all citizens must now worship at the feet of Legislative Beast in power and honor Politicians in office (although our religion teaches not to worship false Gods) … exactly how many citizens have voted for this usurping of power by a Beast they cannot protest against … for if they do … they will receive his mark upon their head (a split forehead) … Spain is as close to a Police State as you can get … without actually declaring Martial Law … the way the US wants to do it over here!
your column exposes how much time, energy and effort the elite employ trying to manipulate the complete mess they have made of a once functional global economy.this pathetic result should be a harbinger of how the new world order will be organised. our brave new world is shaping up to be an unmitigated and irreversible disaster. keep up the good work greg.
Thank you again Greg for this clear and to the point news wrap-up. It is very helpful to see the big picture!
Thank you Irene. I wish I had better news which is why I close every WNW with “Fear Not.” Meaning God the Father is in control.
Greg
That doesn’t mean that what will happen is pleasant. All of us need to prepare to stand judgment. That’s all that ultimately matters, if heaven (meaning eternity in the presence of the Father) is our goal. Best always. PM
Excellent Weekly News Wrap-Up once again!
Thank you Mason for your support.
Greg
Dear Greg,
This is all the US and why…..?? this will a be a big, big nightmare.
And your banks still ruling the world, but the end is close, very close.
Regards
Peter
Lets look at these “cyber attacks, glitches, etc.” being thrown at the public rationally … it seems clear to me that all this major “cyber hacking” going on … from stock exchanges to US government agencies … are simply part of a coordinated plan to “condition the people” for accepting such cyber events “as a valid reason for Martial Law” … well it is not … because computer systems can easily be made to run “independently” of a constant connection to the internet … the politicians tell us we have to worry about “a cyber threat to the nation’s vital infrastructure” … like our nuclear power plants … this is a joke … what need is there for connecting a nuclear power plant “to the internet” … all the vital functions for controlling nuclear reactors can be run by “independently segregated computers” that are not connected to the cloud … this whole “cyber terror conditioning” of the general public looks like a ruse to me!
As for “a real threat” like an electromagnetic pulse from the Sun or an enemy nuclear device … all of our nations vital infrastructure and computer systems can be easily “shielded” … just like the military “currently does” for all its vital electronic equipment!
Another thing … all the military equipment left to fall into enemy hands by our politicians can be easily prevented by simply activating a “thermite kill switch” that can be built into every vehicle at the factory … with all the scientific brains at the Pentagon they can’t figure this out?? … just think of how effective such a “kill switch” would be to have on all the tanks, planes, guns and other military equipment we sell to foreign nations … if a war ever breaks out we could simply and effectively send a signal from a satellite to destroy all the enemies military equipment with the flipping on of a thermite kill switch … and our young boys won’t have to go to war to fight a single battle … no longer will innocent women and children have be killed as “unfortunate”casualties of war! … no more bombing runs will be necessary … nor will we need any Generals to “plan strategies” on how to destroy an enemy!
If foreign nations want to buy American military equipment they should be warned that that equipment they buy from America “is booby trapped” so that it can never be used against America but just for their own private wars between each other … in this way we Americans can begin to “reduce our defense budget” as there will be no need to have more sophisticated American weapon systems developed to defeat the systems we just sold to foreigners. I wouldn’t be surprised if Russia and China use American made computer chips in all their military equipment … why don’t we “booby trap” these chips so we can turn the chips off with a special signal directed at the offending weapon.
We can live in a world where American jets don’t carry bombs or missiles … just a device that sends a signal to disable the enemy’s bombs and missiles … America can thus get out of the costly arms race and along with not pandering to the medical industry we can begin to balance out budget.
The world will just have to accept the fact that they can’t attack America with the weapons they buy from us!
Imagine if Russia and China begin to do the same thing “booby trapping” all the military equipment they sell … the world will tend toward peace not nuclear war … isn’t that what we want for our children? … remember our thoughts become our reality … lets begin to think good thoughts!
Why was the ‘Stuxnet virus’ that reportedly damaged Japan’s nuclear power generating site at Fukushima able to do so? Stuxnet reportedly originated in the USA and/or Israel. Why did Japan’s nuclear site have to have computer connections to foreign countries? What am I missing here, Paul?
SK … Japan idiotically allowed internet access to their Fukushima nuclear power plants … this was a big mistake and should have been forbidden … even if a virus is carried in by a contractor (Israeli, US, etc.to teach Japan a lesson for trying to sell Treasuries for instance) and loaded onto internal computers an attack can’t be made unless the attacker has internet access to direct and inflict the cyber attack … https://www.youtube.com/watch?v=RS2WGRP7DpA
Wow Isreal damaged Fukashima? Where do they get this drivel from. Here let more help… Jews caused tidal wave that struck coast of Japan. Due to contractor saving a few bucks, back up diesel generators supplying backup power were on ground instead off elevated to prevent damage from tidal incursion. Flood damaged backup power. No back up power , no coolant for reactor.
Wow, those Jews are really tricky (extreme sarcasm)
Too much
https://www.youtube.com/watch?v=bYhTFz_SGw0
Thank you Randy. People are stupid–really stupid.
Greg
Randy and Greg I always end up with 2 questions when I see these videos.
1 When is he coming to my neck of the woods ?
2 How many folks take the silver ?
He must have some people that understand what money is. Thanks for posting this Randy.
Love the wrap up Greg. Keep up the good work.
Seems we better all start stacking Hersey Chocolate Candy Bars to use in barter with all “the dumbed down” Americans we will have to deal with in a crisis … we may find like the Romans did … that we will have to offer 30 pieces silver to get what we want!
Because chocolate melts … perhaps stacking yellow 4 pound cans of Domino Sugar will work as well … but someone should double check “exactly how many people did take the silver” but were left out of the video clip because it didn’t fit the video’s “agenda”!
The Chief Priests of the Temple paid Judas, not the Romans
This is unvelievable… I am at a loss to explain this, this really scares me!!!
Great wrap-up. I agree with your point. It is coming to an end. The only way for the government to control the population is through food, water and energy. When you don’t have the force, you squeeze the necessities. How many people are dependent already?
Instead of trying to control the population … the US Government “should order” Monsanto to genetically engineer poppy seed so that it does not have addictive side effects … enough with all the “seedless” watermelons, “seedless” grapes, etc. … lets put the drug cartel out of business once and for all by genetically engineering the poppy flower to be “seedless” … lets begin thinking some good thoughts … for it is our thoughts that become reality!
Why? Opiates have real medical value. And the people growing them for Opium don’t buy seeds from Monsanto nor does the opium poppy show up in flower shops or home and garden stores. Want to get rid of illegal drugs? Put a bounty on users and dealers… our make it legal, Which I oppose.
Or you can control them via unreal financial penalties as Spain just did July 1st by enacting huge fines for protesting, blogging derogatorily about the government, etc., etc. Spain is now officially a police state and TPTB just headed off any common man objections to their debt agenda. Spain’s people just officially became serfs. Amazing what you don’t hear on the nightly news anymore.
In China, when a banker is caught doing any of the unlawful things that these American psychopaths are doing, they are put to DEATH! Not a lot of bankers doing illegal things over there! Obviously the bankers aren’t RUNNING China like they are in the West. I’d call THAT a DETERANT that works!
If we Americans spray perfume on a colony of termites eating our economic house down it will only make them smell better as our house crumbles down around us … to get rid of termites … one must use an insecticide that will kill them … the way China does!
When all else fails…Command Style Economies to the rescue….just shoot them !!!
That always fixes the problem. Period.
We should all remember that war is just a trade show
for weapons dealers.
The subconscious mind does not understand negatives.
http://www.examiner.com/article/does-the-mind-hear-negative-words
Hence, “Fear not”= Fear
It is positive mental attitude 101. You’d never tell your partner “don’t hit the ball out of bounds”, “don’t hit it in the water”, or “don’t miss”. That is called planting a seed.
Buck,
“Fear Not” means God is in control. God does not lie. He doesn’t have to and never will. Your other examples hold water though. Thank you.
Greg
Buck … I think what Greg implies in his Fear Not statement … is “Fear Not To Think” (which is a positive) as it is God who gave us a mind with which to think and take control the world around us!
Buck. Interesting. Was Jesus saying to his disciples to fear when he said fear not ? I think not. A elect of God will understand, and obey. Fools hate knowledge.
Well said Sir
I don’t buy the psychological babel of the article not do I buy that God wrote the Bible “wrong.”
Greg,
I’ve come to the conclusion that the mainstream media have become nothing more than sheep herders for the globalist and their agenda. The following headline pretty much says it all.
http://www.cnn.com/2015/01/26/opinion/martinez-kurtz-phelan-north-american-passport/
Can you really trust anything these people say anymore? Anyone who believes that the NYSE shutdown the other day, was due to a “Technical Glitch” as they reported, is a complete idiot. They somehow failed to report that the same thing was taking place with AT&T, Verizon and all the other major cellphone carriers. The reports I am getting are saying that the main problem was centered around a cyber probe that was directed at our communication satellite systems. This should be very concerning if you understand military strategy, because it tells me, someone is preparing to take down our communication grid, in preparation for some type of attack.
In my opinion, the globalist who control our system, are preparing to take it down, and this was nothing more than a system tune up. It just seems a bit to coincidental to me that this should occur at the same time Jade Helm 15 is preparing to kick off. I’ve been hearing from some of my sources that the bulk of the Jade Helm 15 drill will center around covert communication exercises in densely populated urban areas. I think you can figure it out from here.
Greg,
I posted this a few weeks ago, but I think it will explain a lot of the trickery going on behind the curtain right now on Wall Street. The Readers Digest Version. The Derivative market is beginning to crumble under its own weight, and large banks and investors are not sure how to stop it. Have a great weekend Greg. We have to take advantage of them while we have them. Time is short.
http://investmentresearchdynamics.com/a-derivatives-bomb-exploded-within-the-last-two-weeks/
Jerry. My banker thinks I am nuts for telling everyone to get there money out of banks. Keep the bare minimum for bills. better to pay the fee for checking then stand in long lines to get 100.00 a week to live with.
http://ts1.mm.bing.net/th?&id=JN.9oRah6xIth6Blg3%2b6fAw7Q&w=300&h=300&c=0&pid=1.9&rs=0&p=0
I recently had a conversation with a very senior banking executive.
We were discussing China / Greece….the fallout….He said ….and I quote ….
“In lieu of the risk with stocks / bonds….I guess we should just keep our money in the Bank then!!!”
I said very quickly in reply to this comment …..
Ask the people of Greece if that was a wise decision…(keeping their money in their Banks).
His comment dumbfounded me.
To which he then retorted….so where do we put it then ??
Don’t need to tell you what I told him. There was an uncomfortable silence… I could literally hear his heart beating.
Brother JC, thanks to my creditors and the war on the middle class, I have NO PROBLEM keeping the bare minimum in the bank! Best always. PM
And they called the smart people in Greece who pulled their money out crazy too… until magically, over night, they become damn geniuses
Great wrap up Greg. But fear not, China’s markets up 5-8% two days in a row and as of 8 am CST this morning the Dow futures are up +200. Both as a result of central bank direct intervention no doubt. But one thing’s for sure, the big debts that can’t be paid will never be paid and that problem will not go away…
I Agree Chip!
Greg
The Chinese Central Bank (or central government, actually one of the same in China) promised to buy like 200 billion dollars worth of stock to end this crisis. That is like adding gasoline to the fire. I just hope people aren’t senseless enough to continually invest back in their market.
I want to share a memory that will forever be burned in my memory of when I first moved to China. I was invited to dinner by the Vice President of our school, and some of his local friends. His friend wasn’t educated, but had “Guanxi” (relationship, which is power) and seemed to have earned a comfortable living. I was told he earned his money in the real estate and stock market and had done “quite well”. The Vice President translated for this man, and the man said that their stock market nor real estate market could ever collapse because their system was superior, and that my further education was inferior to his common sense — the market was controlled by the Chinese and thus it couldn’t succumb to the same fate as other countries. I pitied the guy, but didn’t respond and just nodded my head in agreement, and what was I supposed to do — argue with a Chinese man surrounded by Chinese and being in the clear minority? That never ends well. I just pondered how someone could become this disillusioned, specifically with all the historical backing of history repeating itself on this matter. In hindsight, the Vice President never gave his opinion of the issue to me and was quite a nice guy, possibly one of the smartest guys I’ve ever met. Perhaps, he wanted me to see the common thinking in China.
What I can’t wrap my mind around is why the Chinese would allow this to happen right before the IMF SDR decision this fall. Is it possible their market is worse than anticipated? From listening to my students, the job market doesn’t sound good. You would think, they don’t want their market to collapse before a decision is to made about world reserve currency status; however, it appears that is exactly what we are seeing. I wonder if they didn’t anticipate such a quick collapse. Didn’t it take years for things to unravel in the States?
Wilfong,
Thank you for adding your street level reporting for China. Please keep doing it. Looks like that masters degree you have is coming in handy.
Greg
It must be group think-and hubris. I am too big to fail, right? “So the last shall be first, and the first last: for many be called, but few chosen.”
Greg, I’m not a religious man, but I can’t shake the feeling that the world population is on a one-way road to Armageddon. For the most part, whenever I listen to pundits and especially politicians speak, I get the overwhelming feeling that I’m being fed a constant diet of BS. Afterword, I usually walk away with three thoughts. The first of these is “They know not what they’re doing” (Luke 23:34). The second is the fact that we the people deserve the leaders we vote into office. The third is “Things fall apart the center cannot hold”, a stanza from a poem by Yeats titled the Second Coming.
I suppose this makes me a doom-and-gloomer. Nevertheless, I think humanity is about to be tested like never before, and I feel sorry for my granddaughter (and other children) who never had a say in the way things should be run.
Spanky,
You don’t need to be religious. Just believe in God the Father and his Son. It is really that simple. That said, I think your BS detector is spot on. Mu dad used to say, “Even a dog knows when you don’t like him. Do you think you are smarter than a dog?”
Greg
There is a great shame in the democratic process.
We cannot allocate blame to those who are “voted” into power …for the great cataclysm that is unfolding…as we then cast a great shadow over ourselves. The system of democracy did find its origins in ancient Greece. It has become so perverted that it is hardly recognisable by the critical thinkers. Those that understand the system…know that it is designed to shift the onus onto the masses…for all the wrong decisions / choices that we suffer through.
He did this / She did that…he brought us War/Higher Taxes/Loss in Faith/Moral Hazard…Increased Healthcare costs and a Debt Burden that will never be met….etc.
Absolutely agree that things are crazier than ever and I believe the reason why Donald Trump is surging in the pols is politicians like Hillary and Bush People have had enough of these liars and want real “change” the kind that a non politician can bring
“…hairdryer in the EU swimming pool…” -too funny!
Correction: …dollar swimming pool… (but not much difference, dollar, euro…both paper -lol)
Again, thank you, thank you and thank you, one of the very, very
few news sites that are worth even watching. Keep up your good
work!!!! 🙂
Greg, each day now I wake up expecting to find a world with zombies roaming the streets.
and people afraid to come out of their homes. It hasn’t happened yet, but I know for certain it will ! Keep on plugging . You are truly like voice in the wilderness crying out for people to save them selves. Don’t stop now!
Yes, Greg you are our modern day John the Baptist. Be careful. I do not want you beheaded. You, also, are brave enough to say what the PTB do not want you to say.
Larry,
You are not looking hard enough!!
Zombies are everywhere…oblivious to the machinations of the Global Elite and ruling parties and the destruction they are unleashing on the world.
“……the body of a dead person given the semblance of life, but mute and will-less, by a supernatural force, usually for some evil purpose”……
Lying to Hillary comes naturally as leaves come to a tree!
Dee, Hillary is our version of Mao Tse-Tung, complete with the populist, commie uniform (pantsuit). Republican dysfunction will assure her accession to the title “Madame Chairwoman”. Can’t say we didn’t have our chances. We just blew them; that’s all. Best always. PM
Paul,
I hate to agree with you on Clinton. Her candidacy looks too much like a foregone conclusion.
Charles H,
She will not be President.
Greg
Greg-I so hope you are right! Even now, people are calling for the removal of the fLeur-de-lis symbol from Louisiana. How much more crazy will this PC crab get? The Alamo under UN control? Good God! what else? I am waiting for the call to tear down the San Jacinto monument in my area near Houston. I am not so sure Hillary will not be president-all it takes is for the good to do nothing. All I know is she will never be MY president. People here in Texas are beginning to think maybe the Texas Successionist movement is not so crazy after all. We may have a different kind of immigration problem here soon, people desperate trying to get into Texas from the north! I know the traffic problems here in Houston are getting worse week by week, where are all these people coming from?
Greg:
Great wrap up as usual. I want to chime in on the precious metals business. I was at my local PM purveyor on Wednesday morning when the price of silver collapsed and the US Mint announced that they were sold out. One of the Principals of the firm told me that the two large banks (Chase & US Bank) will no longer accept their firm as a customer because of the high volume of cash that their business transacts. This is scary because this is a blatant behind the scenes effort of the TBTF Banks to start banning cash especially those businesses that deal with what I call anonymous commodities.
This is very interesting.
In the Phoenix area most of the smaller storefront operations have been sold out of silver in any form. According to one owner, there are individuals making rounds and buying up any and all silver (coins, odd pieces, bars, etc.).
This is why someone should double check on the Hershey Chocolate video that “may” be portraying things in a different light for “a private agenda” which would be a huge disservice to ordinary people looking for safe haven!
Why Greece won’t get more money? They well not adhere to any austerity they commit to. The money loaned to Greece is gone. The Socialists partied like it we 1999 and then the unthinkable happened. Someone expected them to pay off their loans.
I can’t see anyone, even the EU lackeys, believing that the Greeks will / can repay what they owe. If you can bridge the Greeks to cover the bonds, it would be better to make an example of them and absorb the losses. I disagree with the assessment that the Greek losses can not be tolerated and or survived. We will see. Time, the devourer of all things
Maybe but I don’t buy that Germany is going to give them more money.
http://www.telegraph.co.uk/finance/economics/11730086/Greek-deal-in-sight-as-Germany-bows-to-huge-global-pressure-for-debt-relief.html
It’s not a socialist ‘s nature to repay debt. Even with a restructure, the Greeks won’t pay and only a fool would believe otherwise. But we will see
I don’t know who is crazier…
The Greeks for thinking they can continually borrow money and not be expected to pay it back…..OR
The EU…for thinking that somehow the Greeks will buckle down…and honour their debt obligations.
Where is the “Collateral” when you need it ???
That’s right….the paper is just paper….and not worth the “PAPER” it is written on. ZERO.
Many of the talking “financial gurus” are blaming China’s extra high stock market volatility as being emotionally driven. They are correct, since most of the current Chinese investors are women, which are very unsophisticated investors.
Government cannot be market’s babysitter
(Global Times) 13:28, July 04, 2015 — http://en.people.cn/n/2015/0704/c90780-8915732.html
Chinese stocks tumbled again on Friday, with the Shanghai Composite Index falling 5.77 percent to below 3,700 points. A-share stocks have plummeted nearly 30 percent in the past three weeks. Huge losses have been inflicted on many individual investors who had recently entered the market.
The government has been sending out strong messages that it will bail out the market over the past few days. But given the ongoing free-fall, the government’s power seems to be not as great as previously expected.
It only proves that no one can effectively control the stock market. Too many forces are at work in the gigantic Chinese market, which has resulted in great unpredictability.
Voices that call for government interference have been emerging over the past few days. But a market is a market, and people’s emotional cries may not be able to play a decisive role in influencing the course of events.
The fundamental reason behind the market meltdown lies in the bubble caused by its unusual surge. The government may be able to calm people down through strong interventionist measures. But the speculative bubbles are unlikely to be properly digested.
Some investors have insisted that the government is the one who can least tolerate a market stumble, and therefore it will definitely take action before the market gets even worse. Such expectations are one of the reasons the market often goes out of control – its own self-adjustment capability has become sluggish.
We believe the government’s management of the stock market should be based on market measures that are consistent with international practices. The government will not be able to babysit the market forever.
The fluctuations of China’s stock market are not because it is overly mature, but because it is too rudimentary and unable to cope with excessive speculation. A series of problems have been exposed by the recent sharp price drops, such as some listed companies’ executives collectively selling their shares, or investors’ illegal use of marginal selling leverages.
Of course, if the market shows signs of getting out of control, the government will have to resolutely step in.
The current plunge has not hurt China’s financial system, nor its basic economic operations. Most investors who entered the market before March are able to sustain the losses caused by the recent fluctuations. They have not lost hope, they are still biding their time.
The future of China’s stock market lies in further marketization, not a “policy bull.” The authorities should crack down on the manipulations that upset the market, and make the market a place for fair play.
Victor, all buying is emotional; gender has nothing to do with it. There are four basic buying emotions, reasons people buy or undertake anything. Learn these and you understand why things are as they are:
1) profit (desire for gain);
2) ego (enhancement of one’s position/status);
3) fear of loss (trying to insure one’s situation)
4) comfort and convenience (one-stop, turn-key situation).
To sell the profit buyer, show him/her how the transaction is a betterment financially.
To sell the ego buyer, show him/her how status is enhanced.
To sell the fear of loss buyer, show him/her how the transaction assures success/stability.
To sell the comfort and convenience buyer, emphasize how the transaction solves the problem or makes things simpler/easier.
Examples of sales pitches:
1) Buy now; this stock is going through the roof, so get in on the ground floor!
2) Buy now; you can be the first on your block to…
3) Buy now; it’s only going to get more expensive–or–you can’t lose in this deal….
4) Buy now; you never have to look at this again.
Next time, we’ll talk about the four basic personalities.
Best always. PM
For the record, I’m a #4, comfort and convenience type. For me, #3, the fear of loss type was the hardest to deal with/satisfy. In my later years, I avoided them entirely. It can make a great game. When you hear a commercial, ask yourself, “at what buyer is that pitch directed?” When you are at a cocktail party or similar gathering, listen to others and ask, “what type of buyer is this?” It will change the way you see and understand the world. Best always. PM
Greg,
Some thoughts (my own and those of others) about what has happened this week in the financial world and whether you or your guests think the thoughts have any validity.
First, despite continuing uncertainty, the EU and the Greeks will arrange to kick the bottle of Uzo down the road again. They can write any convoluted agreement they want but there is only one thing that matters. It is that the debt holders can find legal justification for continuing to show most if not all the Greek debt on their books at par.
Second, the Shanghai stock market crash has thrown a real monkey wrench in the efforts of China to get what it considers its “proper” place in international financial circles. Confidence in China has been been damaged, which makes the dollar the king of the hill for longer than any of us may have thought would be the case.
In all this mess the U.S. stock market has risen (artificially I believe) for two reasons. Because Chinese investors who got out in time fled to the safety of the dollar. (The Euro has done well also, perhaps for the same reason.) Because, after looking at the situation in Europe (Greece) and in Asia (China), worried investors have chosen America and the dollar at least for now. If I am right, this works just like a one-time Quantitative Easing.
As for America’s finances, it sure is nice to be at the top of the pyramid and to be able to delay the inevitable a bit longer. Will there still be an October crash?
Hello Greg,
Another great wrap up. You’re right, there’s no way out of this for Europe and all the dominoes thereafter will also fall. I like how you put it when you say this is what it looks like when a debt based system begins to unwind (and die).
Two quick things:
1) PCR implies that Victoria Nuland has already visited Mr. Tsipras and spelled things out to him if he tries to take Greece out of the Eurozone. Think about the implications of that one.
PCR: “If reports are correct, Victoria Nuland has already paid a visit to the Greek prime minister and explained to him that he is neither to leave the EU or cozy up to the Russians or there will be consequences, polite language for overthrow or assassination. Indeed, the Greek prime minister probably knows this without need of a visit.
I conclude that the “Greek debt crisis” is now contained. The IMF has already adopted the Greek government’s position with the release of the IMF report that it was a mistake from the beginning to impose austerity on Greece. Pressured by this report and by Washington, the EU Commission and European Central Bank will now work with the Greek government to come up with a plan acceptable to Greece.” (http://www.paulcraigroberts.org/2015/07/07/greece-eu-situation-paul-craig-roberts/)
Secondly, a point of interest I head today. A local fairly high up financial analyst has just told her family members to get out of all stocks, buy PMs, and buy food. (I know her daughter.) Apparently something is going to happen in the fall according to her data analysis. She is totally mainstream and this is what her conclusions are. It is seeping into the consciousness of some of these folks who have been asleep thus far, so it appears that we are getting closer. Of course, this totally jives with the timeline we have heard here on WD from you and your guests for months now.
Thanks for all you do. God bless.
EJ
@Evan : So the last point you made got my attention. How high of a level is this financial analyst? Is this just an investor level person or something like a CEO / VP / CFO level person?
I’ve just hear so many of these type of warnings its like crying wolf at this point but things seem to be coming together for a late summer or fall collapse.
Beligarant,
Agreed. Many warnings about many things. This person is a VP of a brokerage. Again, the thing that caught my attention was the fact that this person is mainstream, seems to buy mainstream media, believes in the system, is an atheist and so has no scriptural guidance or motivation, and as far as I know has not mentioned PMs before. This is why I posted this. Seems like the two worlds coming together. Just would not expect this person to be talking this way. Hope that helps, but again, that’s just her opinion – so sit with it and make your own conclusions based on what your heart is telling you. That’s the best advice I can give. That, and of course, remain hopeful and positive (fear not).
PS – the thing that really got me with this person was her advice to buy food. That was so bizarre and incongruous.
“I conclude that the “Greek debt crisis” is now contained”…
My friend you underestimate the Greeks and put too much faith in the IMF and ECB.
Its not over …..until its over. The gap between the two is so vast….you will need a month of Sundays to bridge it.
First off, Microsoft layoffs of 7800 are Global, not US solely. Sure it’s not good, could of been a lot worse.
Matt,
My point is this is not a sign of growth and certainly not a “recovery.” Microsoft is a global barometer and it is yet another sign that things are got looking good. Thank you for your comment.
Greg
Matt.
Here’s a list if you need one. There’s more on the way.
http://moneymorning.com/2015/02/10/the-five-next-companies-to-go-bankrupt-in-2015-after-radioshack-rshc/
Microsoft shouldn’t have any layoffs, with the markets they’ve cornered in the last ten years. Greg’s point is valid. People can’t buy goods and services without money, unless you’re Greece living off of handouts.
By the way free enterprise is dead in this country. The globalist plan of socialism killed it. Even Donald Trump can’t breath life back into this dead corpse.
Donald trump… If we’re looking to him for economic wisdom, this nation is long gone. Ross Perot had a chance many years ago. Too bad no one listened and laughed at his ears.
Matt. Of those 7800 unemployed folks how many of them will become hackers ? This layoff is big no matter where the location is. Desperate people will do desperate things. The world is crumbling on a daily scale. I think( it is )a lot worse then the report Greg gave. Strange how the market became inoperable at the same time the layoffs happen.
Fidelity joins Goldman Sachs in says buy China. Hahaha they must have unsold Chinese exposure. Sure buy China now…54% of listed stocks not trading. Yes buy China now. Wall Street has to transfer the loss.
It’s a long shot. If you have money that you want to lose this would be the place to put it. And who knows, it Monday be one of those million to one lotto tickets
The “free money” idiots have got your back.
STAY CALM AND BUY CHINESE STOCKS….!!
Let’s think about the implications of a Chinese Stock Market Crash … after the ordinary Chinese investors lick their wounds … and come to the realization that buying “paper” products “issued by corporations and governments” (including the currencies of governments) “is not savings or wealth” but very risky “paper and debt” products … they will and should begin to put their remaining paper and debt held in their bank accounts into physical precious metals … if the Chinese now transfer just 1 trillion dollars of the money they hold in their bank accounts into gold for safety sake … it will create a staggering demand for 30,000 tons of gold!
So the true implications of the Chinese Stock Market Crash will be to make people throw in the towel … give up on all paper and debt products … and buy physical gold and silver (which held in ones own hand) … will never have a margin call issued against it!
Yes Paul. Yes.
Hi Greg.
It’s interesting to note that when Greece first made noises about defaulting back in 2010 they were 110 billion in debt. Then they were saved so now they are …..340 billion in debt. If they’re “saved” again their debt might hit 500 billion. They really took Obama’s reasoning to heart when he informed them that ” raising the debt ceiling doesn’t increase the debt “.
Dear Greg, your weekly review hit all the points as effectively as only you can do it. There is one event that took place this week, too, at the city of Ufa, Russia. The presidents of BRICK countries, who represent more that a half of the world’s overall population and economies, met there at their annual meeting and made several practical steps that may positively affect the rest of the world today. Namely, the final establishment of the BRIKS’ Development Bank, the AIIB (Asian Infrastructure Investment Bank) and the Silk Road Fund. They showed their interest in helping in resolving the Greek financial crises, too, provided that Greece decides to ask them for an assistance. The modern “Silk Roads” will turn to be the largest infrastructure projects of our time and will affect not only the fast development of Euro-Asian continents but the whole world at large. Those countries are really serious and pragmatic managers of high volume finances that, for the first time, even the arrogant World Bank expressed its interests in co-operating with newly formed BRIKS’ institutions. The official Washington was dismayed with this meeting of BRIKS’ countries because president Barack Obama realized that his intention of isolating Russia failed in an apparent manner. Most of the foreign policy commentators are extending their deep condolences to president Obama but the Earth keeps spinning like nothing is taking place.
why would anyone invest in a market that disallows them from exiting?
the long term damage to faith in free markets from this must be catastrophic.
party members are required to invest or risk expulsion.
It is simply “Police State economics” … similar to what is going on in Spain … whereas in the first case investors are being controlled … and in the second protesters are being controlled … when “Marshal Law economics” eventually comes to America everyone will be forced to invest in treasury debt on pain of fine and imprisonment!
Hi Greg,
Hillary’s ” I have not received a subpoena” is reminiscent of Bill’s ” I did not have sex with that woman” . Fear not! The grace and peace of our Lord Jesus Christ be richly with your spirit! For God has not given us a spirit of fear but of power and of love and of a sober mind! 2Tim. 1:7.
As Hillary would say: “What difference does it make whether I received a subpoena or not”?
https://www.youtube.com/watch?v=t3gjL62zCv8
From T. E. Lawrence to ISIS to mad leaders, nothing new under the broiling sun.
Pay no mind to those debts. Damascus today — U.S., as in us, tomorrow. NO PRISONERS!
(R.I.P. Omar)
Gift of a crucifix on a hammer and sickle? Pope compares capitalism to devil’s dung? Well, knock me over with a feather.
Hand picked usher to lead the gullible.
Sincerity, not to mention, charity starts with coughing up from the Vatican coffers. Notice how socialists all live — well, like popes for instance. We, in the meantime, get the debts, the belt tightening, and the guilt trips.
Anyone still not getting the big picture with Francis Romanus?
FYI-you should check out the prophecy of La Salette-it will open your eyes. http://www.catholictradition.org/Mary/salette3.htm
“Rome will loose the faith and become the seat of the Antichrist…”
Interesting, to say the least.
The Creator has given us the power to create. So what’s stopping us?
https://www.youtube.com/watch?v=IOiUrF74F14
The Hershey Bar/10 ounce Silver Bar quiz just kills me. Thanks Randy.
Wonder what a Christ minded world would really look like?
Contagion in progress….this is what “our” government will unleash upon us unless we are forced into WWIII rather than face the collapse of the dollar
Spain Government Goes Full Police State; Enacts Law Forbidding Dissent, ‘Unauthorized’ Photography Of Law Enforcement
https://www.techdirt.com/articles/20150705/18174231556/spain-government-goes-full-police-state-enacts-law-forbidding-dissent-unauthorized-photography-law-enforcement.shtml
Only solution is for nations to negotiate a global reset that would entail a great deal of pain for everyone, but would get us on the road to recovery. However as things are going, not sure if war is avoidable. No one wishes to address the issue of debt and global imbalances. US hegemony is coming to an end, but rather then a peaceful transition, the oligarchy is becoming even more belligerent to retain every little ounce of power. The people just want to live in peace. Food, shelter, and health for their families. Yet its always the people that will suffer.
Remember what God did to the evil ones in Heaven … he segregated the bad 1/3 from the good 2/3 … here on Earth the bad 1/3 want to segregate the good 2/3 by putting all the good people in FEMA camps! … are the good people going to allow that to happen? … or will they turn the tables as God did and put the bad 1/3 in the FEMA camps?
With the cost of a FEMA camp being in the 100’s of millions of dollars it makes “economic cents” to lock up the bad 1/3 … with the budget deficit exploding the way it is … we will only have to build “half” the FEMA camps the government thinks is necessary to lock up the good 2/3 rds … and thus we can save some significant money locking up the bad 1/3!
Next in Line?
https://www.techdirt.com/articles/20150705/18174231556/spain-government-goes-full-police-state-enacts-law-forbidding-dissent-unauthorized-photography-law-enforcement.shtml
Can someone explain to me why jade helm is such a threat with what i am hearing is 1ooo troops, thats not a lot of soldiers on the ground for anything, so i dont understand the threat even if there would be one. thank you!
Aries … There are profoundly deep implications to the Jade Helm Operation … which is clearly visible to many just by seeing the preposterous lengths the government is going through to make its own citizens “the enemy” … this Jade Helm exercise is to “train soldiers” to look upon their own countrymen “as the enemy” that needs to be either killed or locked up … and is also an exercise “to find those commanders” not willing to fire upon and kill their fellow Americans (so they can be weeded out and discharged from duty).
Besides the flagrantly obvious violation of Posse Comitatus … this Jade Helm operation is designed to “change military loyalty” away from the people … no longer is the US military to be “sworn to serve and protect the citizens of the United States” but is “to be transformed by Jade Helm into a hired “mercenary force” at the beck and call of an elite cabal … a cabal that needs such an immoral mercenary military force to impose their will on the American people!
http://freedom-articles.toolsforfreedom.com/jade-helm-10-deeper-implications/
Even if we weren’t facing an economic calamity, old age and death befall us all.
What Did Jesus Say About Suffering?
Jesus never promised us a rose garden.
Jesus did not blame God for the suffering that surrounded him. Instead, he did the following.
Jesus showed that God does not punish innocent people by causing them to suffer. Jesus cured the sick, the lame, and the blind. (Matthew 15:30) The miracles that he performed teach us two significant facts: First, Jesus used God’s power to alleviate suffering, not to cause it. Second, Jesus did not heal people dispassionately. When he saw people suffering, he was “moved with pity” for them. (Matthew 20:29-34) Jesus perfectly reflected his Father’s feelings about suffering. Therefore, from Jesus’ speech and actions, we learn that God is grieved by the pain He sees and that He wants to relieve it.—John 14:7, 9.
Jesus identified the real source of much human suffering—Satan the Devil. “That one,” said Jesus, “was a manslayer when he began.” (John 8:44) Jesus also identified Satan the Devil as “the ruler of this world” and the one who is “misleading the entire inhabited earth.”—John 12:31; Revelation 12:9.
Jesus gave us hope of a time when all suffering will end. He taught his followers to pray: “Our Father in the heavens, . . . let your Kingdom come. Let your will take place, as in heaven, also upon earth.” (Matthew 6:9, 10) When God’s Kingdom comes, there will be no more suffering on earth, just as there is no suffering in heaven.
In a revelation that he gave to the apostle John, Jesus described what life will be like for those living under God’s Kingdom. At that time, God “will wipe out every tear from their eyes, and death will be no more, neither will mourning nor outcry nor pain be anymore. The former things have passed away.”—Revelation 1:1; 21:3, 4.
I think you are drifting. Leave Scripture to interpret itself.
Dear Greg, You know brother, there’s know doubt , that we’re in a major transitions here. When you look at the new role playing of leaders in the west, meaning the unelected technocrats of the Euro, most all Goldman Sachs people, and the self imposed use of unconstitutional power by Obama, you have to ask, these must envision themselves as leaders of a higher call. Certainly not servants of the people. There the untouchables, that live in high altitude, far above all the sheep. I wrote to Obama in a email, reasoning about our fall and moral decline, and our leadership breaking the agreement between Reagan and Gorbachev over putting ICBM in Poland and two other countries on the back door of Russia, is the same as the Cuban missile in Kennedy’s day, and his answer was full arrogance and like a person who thinks by using enough words to disagree and distort true, that his actions are justified, and these matters are to complex for sheep to grasp, and leaders should be blindly trusted. I ask, why can’t we have a country known for our upright leaders and culture. He said, we may strongly disagree about issues, but need to keep the table open for continued communication. Make know mistake about it, this mans mindset, is one of a NWO leader, not an American president. All the attempts to seize power by this man comes from a UN and globalist mindset. He is under the spell of the false message of global government and society, and is determined to give both the sovereignty and the rights of the people up for this higher ideology. The process of which you speak, as steps toward an end is seen in the UN home page. Outlining the global government framework and agenda 21 for a sustainable government and society. It was all planned in 1944 under the Bretton woods system. That why I said what I did about the fiat currency being used to accomplish the global reset, into a IMF drawing right currency. The IMF or BIS will be the new central bank of the world. The federal reserve and other central banks will eventually be done away with, and a new consolidated banking system will arise. The banking elite will have control of the world currencies, all of them private. The nations and there governments will be subjected as a sub-ruling class. All of this is on the UN web site. The framework already exist. Thanks for the wrap-up, may the Lord bless and keep you near, and give you discernment. Look for the words sustainability as a substitute for the NWO ideology, or agenda 21 and global government framework of the UN, this would also include a economic reset, with special drawing rights being used. They are fixing to give our sovereignty to a all powerful super-state, and the apathy of the American people will allow it to happen. Of coarse God’s providence is involved here, but it still grieves me greatly. They will only fulfill God’s determinant council.
“Fear Not” Don. These jokers only think they are in control, they most certainly are not.
Greg
Palestinian hunger striker freed by Israel AFTER 56 DAY PROTEST AGAINST HIS IMPRISONMENT WITHOUT CHARGE.
Israel has released a Palestinian prisoner who went on a hunger strike for 56 days to protest against his imprisonment without charge. He was freed following a deal in which he agreed to end his fast.
http://www.dw.com/en/palestinian-hunger-striker-freed-by-israel/a-18579502
GEE, they were sure NICE to et hm go! (Deep Sarcasm).
CD
CD,
At least they did not crucify him, or lop off his head, or set him on fire, of have a child shoot him in the back of the head, or throw him off the roof of a building. (Not so deep sarcasm)
Greg
Paul Craig Robert’s latest piece on Iran sums the situation up rather neatly – and accurately. Well worth reading.
When one considers how many years this charade of foreign policy idiocy with Iran has carried on, one begins to question – or, one begins to see quite clearly that all is not what it seems.
Iran is a ~highly~ important strategic area. Containment by way of color-revolution, destabilization, overthrow, coup, or otherwise making Iran subservient to U.S. diktat has been a priority of AIPAC-orchestrated U.S. foreign policy for at least the past 20 years. In addition, Israeli leadership has repeatedly stated that Iran is x-amount of days/weeks/months/years away from producing a nuclear weapon. A weapon (presumably) that could be mounted, placed, aimed, triggered and launched towards Israel. How many times over the past 20 years has this argument been proffered to the Knesset and/or the Congress of the United States as an ‘immediate’ threat…?
With the obvious consequences to Iran, from Israel itself, once it detected (in a matter of seconds) that a missile had been launched, with trajectory towards Israel. But of course, this is what Iran has always wanted – to suicide itself, correct…?
De-stabilization/overthrow of Iran provides however, an even Larger benefit to PNAC-led U.S. foreign policy towards Russia, in that it creates a springboard for near total encirclement of Russia’s key strategic borders, via ‘defensive’ missile batteries…
Perhaps the Biggest question is: What is the U.S. going to do when it runs out of $$$money to $fund these overseas adventures? Actually, it isn’t when the U.S. runs out of $money – that is an Impossibility… It is, what happens when major global economies decide to no longer play in the sandbox of $USD? Which, not coincidentally, brings us right back to the beginning…
Agent P,
For balance I would like to ad that Iran is the top sponsor of terror at the US State Department, and for good reason. What is left out continually in the anti-Israel argument is Iran’s support for Hezbollah and Hamas. It is not a figment of Israelis’ imagination that Iran has funded a proxy war against Israel for nearly 3 decades. Who would put up with that for this long? There is a lot of sin to go around in the M.E and Iran is not without theirs. Might In add that there is not and could be no IranWatchdog or RussiaWatchdog or ChinaWatchdog that criticizes those governments inside the borders of those countries. If I was doing the same thing as USAWatchdog.com in those countries how long do you think it would take before I was imprisoned or murdered? In short, there is always two sides to every story. Oh, and by the way, when was the last time President Obama invited AIPAC to the White House for a personal meeting? Now ask your self when was the last time the President invited the Muslim Brotherhood to the White House tor a personal meeting? Try Last year. http://freebeacon.com/national-security/muslim-brotherhood-leader-meets-obama-in-white-house/ Thank you for your comment.
Greg
Just watched The Donald’s rally speech in Phoenix yesterday. I was a Ross Perot supporter, so I heard it all before. I’m on the fence with all the candidates. My only curiosity is how the powers will finally take him out.
Even if he could deliver and get the economy turned around, that is only a fraction of the battle. We have a rot gut, rot brain population who would turn right around and coronate another satyr.
The recent Jenner interview spoke volumes to me, had great ratings. I observe what people actually do, not so much what they say.
I got only one thing from supporting Perot. From that time, my husband always started a sentence with: “since you got money for a billionaire.” That was his introductory phrase for buying the new pair of Red Wing boots or even a truck.
I kept my Perot campaign sign in my garage until recently. It kept me grounded looking at that sign, not expecting anything other than what I could accomplish for myself.