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Sunday, March 1, 2015

TO YOU Readers from Israel...........................PROOF beyond DOUBT that Obama "IS" the Biggest Threat to YOUR National Security Israel has EVER Faced!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!! 

Shocking Report: Obama Threatened To Shoot Down Israeli Jets Targeting Iran
By Alex Griswold

An Israeli F-15 I fighter jet takes off during an air show at the graduation ceremony of Israeli air force pilots at the Hatzerim base in the Negev desert, near the southern Israeli city of Beersheva on December 26, 2013. AFP PHOTO / JACK GUEZ        (Photo credit should read JACK GUEZ/AFP/Getty Images)

In a shocking report, a Kuwaiti newspaper is claiming that President Barack Obama once threatened to shoot down Israeli jets if they went through with a plan to target Iranian nuclear sites.

Citing “well-placed sources,” Al-Jarida claims that sometime in 2014, the Israeli government made plans to attack Iran when they heard that the United States and Iran were on the cusp of striking a secret nuclear deal behind Israeli’s back. The decision was made after Israel learned the terms of the deal were supposedly “a threat to Israel’s security.”

Israeli Prime Minister Benjamin Netanyahu allegedly came to the decision after four nights of deliberation with commanders, and Israeli jets even managed experimental test flights in Iranian airspace after evading Iranian radars. But when an Israeli official with good ties to the Obama administration revealed the planned airstrikes, Obama allegedly threatened to shoot down the Israeli jets. (VIDEO: Bobby Jindal Slams Obama For ‘Disrespecting Israel And The Jewish People’)

Israeli media network Arutz Sheva points out that at least one veteran Democratic statesman has been open in their opinion that the U.S. should shoot down any Iran-bound Israeli jets. “They have to fly over our airspace in Iraq,” former diplomat Zbigniew Brzezinski said in 2008, “Are we just going to sit there and watch?” 

Report: Obama Threatened to Shoot Down IAF Iran Strike

Kuwaiti paper claims unnamed Israeli minister with good ties with the US administration 'revealed the attack plan to John Kerry.'
By Mark Langfan

The Bethlehem-based news agency Ma’an has cited a Kuwaiti newspaper report Saturday, that US President Barack Obama thwarted an Israeli military attack against Iran's nuclear facilities in 2014 by threatening to shoot down Israeli jets before they could reach their targets in Iran.

Following Obama's threat, Prime Minister Binyamin Netanyahu was reportedly forced to abort the planned Iran attack.

According to Al-Jarida, the Netanyahu government took the decision to strike Iran some time in 2014 soon after Israel had discovered the United States and Iran had been involved in secret talks over Iran’s nuclear program and were about to sign an agreement in that regard behind Israel's back.

The report claimed that an unnamed Israeli minister who has good ties with the US administration revealed the attack plan to Secretary of State John Kerry, and that Obama then threatened to shoot down the Israeli jets before they could reach their targets in Iran.

Al-Jarida quoted "well-placed" sources as saying that Netanyahu, along with Minister of Defense Moshe Yaalon, and then-Foreign Minister Avigdor Liberman, had decided to carry out airstrikes against Iran's nuclear program after consultations with top security commanders.

According to the report, “Netanyahu and his commanders agreed after four nights of deliberations to task the Israeli army's chief of staff, Benny Gantz, to prepare a qualitative operation against Iran's nuclear program. In addition, Netanyahu and his ministers decided to do whatever they could do to thwart a possible agreement between Iran and the White House because such an agreement is, allegedly, a threat to Israel's security.”

The sources added that Gantz and his commanders prepared the requested plan and that Israeli fighter jets trained for several weeks in order to make sure the plans would work successfully. Israeli fighter jets reportedly even carried out experimental flights in Iran's airspace after they managed to break through radars.

Obama Israel..............................America OPEN Your Fricking EYES!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!
Kyle Bass "IS" ROTFLHFAO in TEARS with this NEWS!!!!!!!!!!!!!!!!!!!!!! Once again the ECB's Stress Test and AQR Review WAS Total BULLSHIT!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!! 

Europe cracking as Austria becomes newest country to force depositor bail-ins

On March 1, the nationalized bank known as the Heta Asset Resolution in Austria was found to be vastly short of capital during an audit of this 'bad bank'. Subsequently, the finance ministry announced that the state would not be supplying emergency funds in the amount of 7.9 billion euros and instead approved measures that would allow a bail-in to occur where creditor assets would be free to be pillaged by the resolution bank to cover this capital shortfall.

Austria now becomes the second European Union (EU) country to implement bail-in measures where depositors and creditors of banking debt will be involuntarily forced to give up their capital and assets to fund a bail-in measure to protect a bank from insolvency.

The institutional and coalition wide program of bank bail-ins versus bank bail-outs stems from an agreement passed by the G20 late last year in Brisbane, Australia where a unanimous vote by the representatives on a treaty resolution meant that all signatories would ensure that legislation was passed or in place in their respective countries to accommodate bail-ins the next time a banking institution not covered by national insurance failed.

Austria On Track to Bail in Heta Creditors After Aid Stop
By Boris Groendahl

(Bloomberg) -- Austria won’t give fresh capital to Heta Asset Resolution AG, making the “bad bank” of failed Hypo Alpe-Adria-Bank International AG the first case under new European Union rules imposing losses on bank bondholders.

Austria cut off support for Heta, which has already cost Austrian taxpayers about 5.5 billion euros ($6.2 billion) in aid, after Heta notified the government it may need as much as 7.6 billion euros on top of that, the Finance Ministry said in a statement on Sunday. The Finanzmarktaufsicht regulator put Heta into resolution and ordered an immediate debt moratorium.

“The decision was triggered by information from Heta’s management about the first results of an asset review,” the ministry said. “Because of that dramatic change of the asset evaluation, the ministry together with the entire government decided not to invest any more tax money into Heta.”

Heta’s predecessor Hypo Alpe was nationalized in 2009 after it was close to collapse because of bad loans in the western Balkans and shareholders led by Bayerische Landesbank walked away from the bank. Its rescue and wind-down has been complicated by a string of court cases and by the fact that a large part of its debt is guaranteed by the Carinthia province, a former owner of the bank. 

"Spectacular Developments" In Austria: Bail-In Arrives After €7.6 Billion Bad Bank Capital Hole "Discovered"

Slowly, all the lies of the "recovery", all the skeletons in the closet, and all the bodies swept under the rug are emerging.

Moments ago, Austrian ORF reported that there have been "spectacular developments" in the case of the Hypo Alpe Adria bad bank, also known as the Heta Asset Resolution, where an outside audit of Heta's balance sheet exposed a capital hole of up to 7.6 billion euros ($8.51 billion) which the government was not prepared to fill, the Austrian Financial Market Authority said.

Austria imposes debt moratorium on Heta "bad bank"
By Michael Shields

(Reuters) - Austria's Financial Market Authority stepped in on Sunday to wind down "bad bank" Heta Asset Resolution and imposed a moratorium on debt repayments by the vehicle set up last year from the remnants of defunct lender Hypo Alpe Adria.

The step, allowed by new legislation that gives banking supervisors more power to intervene, followed an outside audit of Heta's balance sheet that exposed a capital hole of up to 7.6 billion euros ($8.51 billion) which the government was not prepared to fill, the FMA said.

The finance ministry confirmed this in a statement, adding Heta was not insolvent and that debt guarantees by Hypo's home province of Carinthia and the federal government were unaffected by the move.

Carinthia guarantees back 10.7 billion euros worth of Heta debt. The federal government backs a 1 billion euro bond issued in 2012 that the ministry said would be honoured in full.

The moratorium on repayment of principal and capital lasts until May 31, 2016, giving the FMA time to work out a detailed plan to ensure equal treatment of all creditors, the FMA said in a decree published on its website.

More than 9.8 billion euros worth of debt is affected, including senior notes worth 450 million due on March 6 and 500 million on March 20.

The finance ministry noted that creditors can be forced to contribute to the costs of winding down Heta - or "bailed in" - under new European legislation that Austria adopted this year so that taxpayers do not have to shoulder the entire burden.

Kyle Bass AQR Europe Banks
World's Largest Container-Shipper Warns Global Trade Is Slowing Down

While it will hardly come as a surprise to many, especially those who have followed the historic collapse of the Baltic Dry index to levels which, all else equal, signify a global depression of epic proportions...

Baltic Dry INDEX 

China PMI shows factory activity shrank again in February

The official Purchasing Managers' Index inched up to 49.9 in February from January's 49.8

Hours after China's central bank cut interest rates to battle slowing growth and rising deflationary risk, an official survey showed on Sunday that activity in China's factory sector contracted for a second straight month in February.

The official Purchasing Managers' Index (PMI) inched up to 49.9 in February from January's 49.8, a whisker below the 50-point level separating growth from contraction on a monthly basis, but nevertheless above more pessimistic analyst forecasts for a 49.7 reading. The new reading ended a four-month streak of declining numbers, and the National Bureau of Statistics said the rise should be viewed more positively as it occurred despite the week-long Lunar New Year holiday, during which PMI usually contracts. This year, the holiday was in February.

"In the context of stabilizing macroeconomic policies including recent tax cuts and increased infrastructure spending, market demand rose and business confidence strengthened," the NBS said, adding that stabilizing crude oil and raw material prices were also important factors.

The services PMI showed growth in that sector picked back up to 53.9, up from 53.7 in January, which the NBS attributed in part to strong holiday spending. 

China’s Rate Cut Shows Unease Over Growth

Policy easing comes amid expectations the growth target will be cut at this week’s National People’s Congress.
By Robert Guy

The Communist Party will be in high anxiety mode this week as the party’s elite jet in from around the country for the annual gathering of the country’s rubber stamp parliament, the National People’s Congress.

Delegates attending the Great Hall of the People in Beijing will have to contend with the major security crackdown that typically accompanies the gabfest of cadres at the apex of Chinese politics, with the ultra-high levels of security aimed a ensuring there are no embarrassing hiccups that threaten the smooth running of the Communist Party’s showpiece event.

But anxiety over security isn’t the only issue troubling the minds of the party’s heavyweights. The People’s Bank of China’s surprise 25 basis point interest rate cut on Saturday suggests unease about the slowing pace of growth, and the even slower pace of inflation, in the world’s second largest economy.

The cut in the benchmark policy rate to 5.35% comes just days before Premier Li Keqiang mounts the podium at the NPC to deliver his annual work report and unveil what many economists expect will be a lowering of China’s growth target. Economist are tipping a cut to 7% from the 7.5% target outlined at last year’s NPC.

Li warned at last year’s gathering that “painful structural adjustments’ were needed as the fifth generation of leaders, led by President Xi Jinping, addressed the severe imbalances bequeathed by the previous administration led by President Hu Jintao and Premier Wen Jiabao. Li hasn’t disappointed on his warning. China’s economy grew at a 7.4% pace in the 2014, the slowest pace since 1990, as the government held firm in not reverting to its traditional playbook of looser policy as the once red-hot property market cooled significantly and the manufacturing heartland suffered a margin squeeze under the weight of too much capacity built in the days of cheap and easy money.

But the Communist Party’s resolute stand has started to look wobbly in recent months. Saturday’s interest rate cut is the second in three months and follows a lowering in the reserve requirement ratio for China’s banks last month, a move that allowed them to lend more money.

The PBoC joins a growing line of central banks in Asia that has eased policy in recent months, stoking talk of a new phase in the global currency war. Bank Indonesia surprised the markets when it cut interest rates by 25 basis points to 7.5% on February 17, the first easing in monetary policy in three years. The Reserve Bank of Australia lowered rates by 25 basis points to a record low of 2.25% on February 3, while the Reserve Bank of India made a surprise 25 basis point cut to 7.75% on January 15.

While President Xi has telegraphed the need for a “new normal” of lower growth, the Communist Party needs to ensure the ongoing slowdown doesn’t accelerate beyond their ability to manage a transition to more moderate growth. Given the elevated levels of debt at the local government and corporate levels, there is the potential that too sharp a slowdown could lead to a surge in bad loans, which in turn may have a cascading impact on the ability of China’s banks to play their important role in funding growth.

China central bank steps up easing tempo as factory activity shrinks
By Pete Sweeney

(Reuters) - Weakness in China's vast manufacturing sector, aggravated by high real borrowing costs and weak demand, appears to have driven the central bank to accelerate the pace of monetary easing to ward off deflation in the world's second-largest economy.

Cuts to benchmark lending and deposit rates, announced by the People's Bank of China (PBOC) on Saturday evening, pre-empted official data released on Sunday that showed a second consecutive month of shrinking manufacturing activity for February.

While economists had been predicting further easing to support the struggling economy, some were surprised that the PBOC made its move just days before China's national legislature will meet to set the official economic growth target for 2015.

"This rate cut signals policymakers' willingness to take further action to ease financing conditions in an effort to maintain stable growth," wrote Nomura analysts' in research note that said the cut had come sooner than predicted. "It also suggests that growth may have slowed sharper than we expected."

China posted its slowest growth in decades in 2014, at 7.4 percent, and sources told Reuters in January the government had settled on a target around 7 percent this year.

While Beijing has signaled it is comfortable with a moderating pace of growth as it shifts away from investment-intensive export manufacturing toward services, that transition remains a work in progress and the factory sector is still a major employer and consumer in its own right.

China Cuts Interest Rates to Stimulate Slowing Economy

SHANGHAI — With its growth engine slowing, China said on Saturday that it was reducing the nation’s benchmark interest rates for the second time in three months.

In an announcement on its website, China’s central bank said that, effective Sunday, the one-year bank lending rate would drop 0.25 percentage point to 5.35 percent and that deposit rates would also be reduced by a quarter percentage point.

The move, which will make it cheaper to borrow money, comes as policy makers search for ways to stimulate the economy while also promoting overhauls aimed at allowing market forces to play a greater role in the country’s development.

China already has the world’s second-largest economy after the United States. And during much of last year, it was expanding about 7.5 percent. But late in the year, momentum slowed considerably, raising concerns that growth targets would not be met and that a deeper downturn was possible.

China cuts rates again in face of weak demand, deflation risk

China's central bank cut interest rates on Saturday(local time), just days before the annual meeting of the country's parliament, in the latest effort to support the world's second-largest economy as its momentum slows and deflation risks rise.

The central bank said the 25 basis point cut in the benchmark interest rate to 5.35 per cent - its second cut in just over three months - and a 25 basis point cut in the benchmark saving rate to 2.5 perc ent would be effective from Sunday.

"The focus of the interest rate cut is to keep real interest rate levels suitable for fundamental trends in economic growth, prices and employment," the People's Bank of China (PBOC) said in a statement on its website.

"This does not represent a change in the direction of monetary policy."

However, using new language to describe the policy setting, the PBOC said the latest rate cut would create a "neutral and appropriate" monetary environment for China.

The move came four weeks after the bank had lowered the level of cash banks must set aside as reserves, known as the reserve requirement ratio or RRR, leading some to believe the PBOC was growing increasingly worried about deflationary risk.

The reference to "real interest rates" in Saturday's statement also implied that sliding prices were an important factor in its decision. 

Liam Dann: Fresh Chinese rate cut highlights slowdown risk

China's central bank has cut the country's official cash rate for the second time in three months - a move which highlights concern about the economic slowdown of New Zealand's largest trading partner.

Over the weekend The People's Bank of China announced a rate cut on one-year loans by commercial banks of 0.25 per cent to 5.35 per cent. The interest rate paid on a one-year deposit was also lowered by 0.25 to 2.50 per cent.

Market watchers in China are predicting more cuts to come as the People's Bank takes advantage of lower inflation to administer some stimulation to the economy by way of lower lending rates.

It is no surprise that Chinese economic growth is slowing. The transition to more moderate domestic-led growth is an official Government policy. Having targeted a growth rate of 7.5 per cent in 2014 - it eventually came in at 7.4 per cent, many now expect the Chinese leadership will set an official GDP growth target of 7 per cent for 2015.

China’s bursting coal bubble raises fear of stranded assets

A shift in policy towards cleaner energy has seen a dramatic slowdown in china's demand for coal
By Andrew Critchlow, Commodities editor

China's love affair with coal has come to an abrupt end, with figures released last week showing that consumption fell in 2014 for the first time in 14 years.

A combination of slowing industrial growth and a drive by the government in Beijing finally to take emissions and pollution seriously are the main drivers for the slump in the coal market.

The shift in China’s demand could signal that the world’s second-largest economy has reached “peak coal”, whereby the country will make a long-term structural shift away from the dirty fuel towards a greater reliance on natural gas and renewables.

As China accounts for half the world’s demand for “seaborne” coal, and was assumed to be the main driver for new pits for decades to come, now could be the right time for investors to review their exposure to the commodity.

It will also reawaken debate among policymakers about the wider global financial risks that may emerge from a so-called “carbon bubble”, whereby fossil fuel deposits become “stranded”, leaving investors and pension fund holders sitting on massive losses.

The Prudent Bear: End of an Era
By Doug Noland

China, with its almost 1.4 billion citizens and already entrenched Bubble dynamics, had the capacity to inflate colossal Credit and economic Bubbles. Chinese officials claimed they’d learned valuable lessons from the Japanese Bubble experience. But I fully expected it to be very difficult for authorities to rein in increasingly powerful and systemic Bubble excesses.

I had hoped that our central bank had learned some lessons from previous reflationary policies and attendant destructive booms and busts. Yet a reading of economic history had me convinced that once aggressive monetary inflation has been commenced it becomes extremely difficult to stop. With the Bernanke doctrine of inflationism on the line, I also doubted the Fed’s capacity to accept the errors of its ways. Mistakes would beckon bigger mistakes. Too predictably, instead of recognizing the damage wrought from “money” printing, the Fed was too quick to double down with the electronic printing press.

As it turned out, my worst fears from back in 2009 came to fruition. Truth be told, the global Bubble surpassed what I even thought possible. The Fed’s balance sheet is on its way to $4.5 Trillion. The Chinese Bubble inflated to historic proportions – and is still rapidly inflating. Scores of EM countries, many with notably checkered pasts when it comes to monetary and economic management, were inundated with cheap global finance like never before. It was destined to be a fiasco from the start. Throughout it all, rarely would local authorities move to rein in overheated domestic Credit systems. Inflationism had enveloped the world like never before. And then Japan took “daring” to a whole new level of recklessness.

China HARD Landing..............................HAS Begun!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!

ASIA........................HOME of the NEXT ""GREAT Recession""!!!!!!!!!!!!!!!!!!!!!!!!!!!!!! 

Nothing CAN Stop the 2015 ""GLOBAL RECESSION""..........................NOTHING!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!
WARNINGS from David Stockman and Harry Dent!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!

Few Will Survive "Sundown in America"

David Stockman, architect of President Reagan's economic turnaround known as 'Morning in America', warns of the looming collapse of free market prosperity and the destruction of American wealth.

David Stockman

Harry Dent

Central Bankster ""ZIRP""

Q4 Obliterates The Case For QE And ZIRP
By David Stockman

The most important number in today’s Q4 GDP update was 2.3%. That’s the year/year change in real final sales from Q4 2013. As an analytical matter it means that the Great Slog continues with no sign of acceleration whatsoever.

Indeed, the statistical truth of the matter is that this year’s result amounted to a slight deceleration—–since the Y/Y gain in real final sales for Q4 2013 was 2.6%.  But beyond the decimal point variation the larger point is this: Take out the somewhat jerky quarterly impacts of inventory stocking and destocking, and view things on a year/year basis to eliminate seasonal maladjustments and data collection and timing quirks, such as the double digit gain in defense spending during Q3 and the negative rate for Q4, and what you get is a straight line slog since the recession ended in 2009.

Thus, the year/year gain in real final sales for Q4 2012 was 2.1%; and was 1.5% and 2.0% for the years ended in Q4 2011 and 2010, respectively. Its a 2% world. Period.

The questions thus recurs as to what in the world the Fed’s massive money printing spree had to do with this tepid performance.  The answer is nothing at all, and that “tepid” and “slog” are exactly the right words to characterize these numbers. After all, the plunge in GDP during 2008 and the first half of 2009 was the deepest since WW II. By all prior norms, therefore, the bounce back should have been exceptionally strong.

For instance, real final sales dropped by 3% during the Great Recession—–far more than the 1.1% decline during the deepest prior post-war downturn of 1981-1982.  However, during the next five years of rebound, real final sales grew by 26% or nearly 4.7% per year.  That’s more than triple the 8% cumulative rebound from a far deeper hole in June 2009. 

Uncle Ben's ""QE"" VooDoo has FAILED Everywhere it has been TRIED!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!
GEE, I Wonder what the Socialists in Italy and SPAIN are going to SAY when the ASSHOLES at the ECB and IMF are FACED with another ""CREDIT Event"" out of GREECE before the END of MARCH and most Certainly come JUNE!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!! 

Folks, GREECE "IS" Totally BROKE and has NO Chance in HELL to EVER Pull themselves out of the State of Insolvency that they Current FACE. ""BIG Government"" has Totally FAILED in GREECE and ALL of EUROPE faces the SAME Fucking FATE before the END of this DECADE!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!

You Europeans Truly Deserve Each OTHER.............................SHORT the Living SHIT out of the EURO!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!

PIIGS Go To War: Spain, Portugal Slam Tsipras' Accusations Of "Conspiracy Plot" To Overthrow Greek Government

Just when things seemingly couldn't get any stranger in Europe, we open a whole-new bizarro chapter.

Back on February 1, when the negotiations, or rather posturing, surrounding the Greek bailout extension was at its peak, we reported something peculiar: of all the countries in Europe, it was none other than France, seemingly tired of walking in Germany's shadow, that announced it was "prepared to support Greece" in its debt negotiations.  "France is more than prepared to support Greece," French finmin Sapin said, adding that Greece’s efforts to renegotiate were "legitimate." Sapin urged a "new contract between Greece and its partners."

Of course, this quickly led nowhere because as everyone knows, France is irrelevant in Europe and only Germany's opinion matters: Germany, which only agreed to a Greek bailout extension, when all of Syriza's demands were crushed, and the Tsipras government is not merely a shell of its pre-election promises, and in many ways, just a continuation of the previous Samaras regime. As such, the Frencsh support of a Greek debt writedown, understandable since it is none other than France whose socialists will one day sooner or later require a comparable debt negotiation, was duly noted... and promptly ignored:

However, what was even more peculiar is that it was the financial peers of Greece, the other insolvent PIIGS, particularly Spain and Portugal, who exist only thanks to the goodwill of the ECB buying up their bonds (or else watch as their economies implodes overnight once the "sex and drugs"-boosting facade of their GDP is stripped away) that took a far more hard-line approach toward Greece, and in fact were just as harsh on the Greek debt renegotiation proposal as Germany itself.

Yesterday Tsipras made clear his displeasure with the betrayal of what were formerly his socio-economic insolvent equals quite well-known, when he accused Spain and Portugal on Saturday of "leading a conservative conspiracy to topple his anti-austerity government, saying they feared their own radical forces before elections this year."

As Reuters reports, in a speech to his Syriza party, Tsipras turned on Madrid and Lisbon, accusing them of taking a hard line in negotiations which led to the euro zone extending the bailout programme last week for four months.

Greek PM accuses Spain, Portugal of anti-Athens 'axis'
By Costas Pitas and David Stamp

(Reuters) - Greece's leftist Prime Minister Alexis Tsipras accused Spain and Portugal on Saturday of leading a conservative conspiracy to topple his anti-austerity government, saying they feared their own radical forces before elections this year.

Tsipras also rejected criticism that Athens had staged a climbdown to secure an extension of its financial lifeline from the euro zone, saying anger among German conservatives showed that his government had won concessions.

Greeks have directed much of their fury about years of austerity dictated by international creditors at Germany, the biggest contributor to their country's 240-billion-euro bailout.

But in a speech to his Syriza party, Tsipras turned on Madrid and Lisbon, accusing them of taking a hard line in negotiations which led to the euro zone extending the bailout programme last week for four months.

"We found opposing us an axis of powers ... led by the governments of Spain and Portugal which for obvious political reasons attempted to lead the entire negotiations to the brink," said Tsipras, who won an election on Jan. 25.

"Their plan was and is to wear down, topple or bring our government to unconditional surrender before our work begins to bear fruit and before the Greek example affects other countries," he said, adding: "And mainly before the elections in Spain."

Spain's new anti-establishment Podemos movement has topped some opinion polls, making it a serious threat to the conservative People's Party of Prime Minister Mariano Rajoy in an election which must be held by the end of this year.

""PIIGS"" are Still ""PIIGS""!!!!!!!!!!!!!!!!!!!!!!!!!!!!!! 

GREECE.............................The END of the EURO as WE Know it in this DECADE!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!
To YOU Readers from Russia, PUTIN "IS" nothing more than a Joseph Stalin without the Mustache!!!!!!!!!!!!!!!!!!! HE's OLD KGB and "IS" Running Russia like it was the 1960s ALL Over Again. 

Your Press won't tell YOU that PUTIN "IS" Probable the Richest Man in Russia who has been use the Country like a Mafia Don to enrich himself and HIS Lieutenants. He's been LYING his ASS OFF about Ukraine and NOW YOUR Paying for HIS Aggression with a Recession that may have you ALL on Course to REPEAT the HELL that was 1998!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!! 

And I'm here to TELL You Folks a Brutal Truth. The BULLSHIT Putin "IS" Spreading about the Desires the WEST has on Russia "IS" Total CRAP!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!! 

There "IS" Nothing You Folks have in RUSSIA the WEST would be Will to go to WAR Over. If you Can't bring yourself to Believe this FACT then get on an AIRPLANE and Fly to any LARGE City in Europe or America and spend a couple of Days looking at WHAT WE can Purchase with OUR Money and then Compare YOUR Choices YOU Have with what LITTLE Money YOU Earn for what ever you do for a Living. AH, THIS "IS" Call the Living Standard and LIKE I Said in the Beginning, PUTIN Doesn't HAVE SHIT WE NEED or WANT!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!! 

Nemtsov's death 'serves as a wake-up call'

In the murder of Boris Nemtsov, publicist Sergey Lagodinsky sees an escalation of political violence. At the same time, though, he views the murder as an opportunity for the Russian government to change its course.

DW: Following the murder, various people have commented that Putin is at least indirectly responsible for it, because he created a political climate that makes these kinds of assassinations possible. What's your view on this accusation?

Sergey Lagodinsky: This is true. The government silences voices of opposition and has launched a tough campaign against its critics. Even before the Ukraine crisis, this campaign was already fueled by the media and included personal attacks on specific people. In this regard, the Kremlin has a high level of political responsibility for the crime.

Nemtsov and many other opposition politicians were systematically vilified and discredited. Due to his criticism of Russia's Ukraine policy, he was not only presented as an enemy of the regime but also of the nation and the people. Critics like him have been portrayed as the "fifth column" [secret subversive groups that seek a political overthrow], and through this have been indirectly declared as outlawed.

How do you explain this harsh political climate? What does Putin want to achieve?

Already before the Ukraine crisis, Putin was under pressure due to the economic situation in Russia. The country's main source of income is its oil and other natural resources. However, it hasn't invested in a manufacturing industry or in new technologies. At some point it wasn't possible anymore for Putin to buy the support of the people. 

Tens of thousands march in silence over killing of Kremlin critic Boris Nemtsov

Memorial march for Boris Nemtsov attracts large crowds in both Moscow and St Petersburg
By Roland Oliphant, and Howard Amos in Moscow

Tens of thousands of Russians marched through Moscow on Sunday to pay their respects to Boris Nemtsov, the opposition leader who was murdered in the shadow of the Kremlin’s walls on Friday.

A crowd of around 70,000, many bearing the white, blue and red Russian national flag, gathered beneath iron grey skies at Moscow’s Slavyanskaya sqaure, half a mile from the Kremlin.

Carrying flowers, portraits of Mr Nemtsov, and banners reading “I am not afraid,” they marched in near-silence to the bank of the Moscow river before turning right towards the spot where Mr Nemtsov was killed.

Mr Nemtsov, 55, was gunned down as he walked across the Bolshoi Moskvoretsky bridge outside the Kremlin just before midnight on Friday, in what his supportes claim may have been a Kremlim-backed assassination.

He had been planning to lead an anti-war opposition rally scheduled for yesterday afternoon. His co-planners from the liberal opposition movement cancelled the plans after he was killed and instead negotiated with Moscow city hall to hold a memorial march.

Poroshenko: Nemtsov planned to reveal Russian links to Ukraine conflict

As people in Kiev pay tribute to murdered Russian opposition politician Boris Nemtsov, Ukrainian President Petro Poroshenko says he was about to provide "clear evidence" of Russian involvement in Ukraine
By Telegraph video, and Reuters, video source APTN

People in Kiev paid tributes on Saturday to Russian opposition politician Boris Nemtsov, who was gunned down the previous night.

They laid down flowers and lit candles at a makeshift memorial in Independence Square.

Iryna Baliacheva, a Russian political migrant living in Ukraine told reporters Putin was to blame for the murder.

"Putin opened Pandora's box and released dangerous powers: non-acceptance of a different opinion (from his), representatives of the opposition were called traitors, while we (Ukrainians) are considered US Department of State agents.

"And now people who believed in Russia's television lies may also believe that some robbers killed him, but I think that this was organised by Putin in order for him to stay in power."

Nemtsov murder caught on tape? Video may offer clues

The murder of Boris Nemtsov, a political foe of Russian President Vladimir Putin who was publicly critical of the government, was reportedly caught on tape.

Nemtsov, 55, a first deputy prime minister under President Boris Yeltsin in the 1990s, was killed near the Kremlin late Friday, a day before his planned protest against the Russian government, as he walked from a restaurant after having dinner with his girlfriend, Ukrainian model Anna Duritskaya.

UKRAINE...........................It's going to get MUCH Worse!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!

Saturday, February 28, 2015

Doing the Things NEEDED to Prepare for WAR!!!!!!!!!!!!!!!!!!!!!!!!

China’s Space Weapons Threaten U.S. Satellites

Stratcom worried by antisatellite missiles, satellite weapons, lasers
By Bill Gertz

China is developing significant space warfare capabilities that threaten U.S. strategic satellite systems, the commander of the U.S. Strategic Command told Congress on Thursday.

“We’ve seen very disturbing trends in space, particularly from nation states like China, as well as Russia, who have been public about their counterspace endeavors and ambitions,” Adm. Cecil Haney, Stratcom commander said. Counterspace is the military term for space warfare capabilities and weapons.

China conducted a test of a missile-fired anti-satellite kill vehicle as recently as last summer, Haney told the House Armed Services strategic forces subcommittee.

“Fortunately this time it didn’t hit anything as it did in 2007, creating just thousands and thousands of pieces of debris which we’re still struggling with,” Haney said, adding that the recent test indicated China’s intention to invest heavily in what he said is a “not very transparent” space arms program.

“Additionally, we see things that … have also been put in orbit that also is of concern, as well as things on land that are also being used to threaten our assets, such as lasers, such as jamming capability and what have you that threatens communications, GPS,” the four-star admiral said.

China’s test of an antisatellite (ASAT) missile in July was disguised by the Chinese government as a ballistic missile defense test. In the past several years, China also conducted space tests using miniature satellites, some with retractable arms capable of grabbing or crushing satellites. Little is known of China’s ground-based laser and jamming ASAT capabilities.

American spy plane over South China Sea is ‘a dangerous development’

China considers growing US military activity in the waters of the South China Sea as hostile, which may lead to destabilizing the situation in the disputed region, Victor Gao, Director of the China National Association of International Studies, told RT.

The US military has admitted to flying its most-advanced spy aircraft over the South China Sea. The status of islands located in the area is still disputed.

RT: What do you think about the US presence in that area?

Victor Gao: I think it is a dangerous development that the US is more and more participating in activities in this particular region. And many of these things are considered [to be] very hostile as far as China is concerned. The more military involvement in this part of the world, the more dangerous it will become for China-US relations. As the two largest economies in the world, if anyone believes that they can resolve any issue between China and the US through military means is undoubtedly living a fantasy. It will be very destabilizing and highly unconstructive.

World View: US Navy Says that China Now Has More Attack Submarines than US
By John J. Xenakis

This morning’s key headlines from

    China’s South China Sea building spree threatens neighbors
    US Navy says that China now has more attack submarines than US 

China's South China Sea building spree threatens neighbors

China is on a building spree, conducting "large scale" land reclamation and construction in the Spratly Islands in the South China Sea. Since last year, China has already built a new artificial island, more than 18 acres in size, whose main building appears to have an anti-aircraft tower.

Satellite photographs have shown that Chinese reclamation work is advanced on six reefs in the Spratly archipelago. Workers are building ports and fuel storage depots as well as possibly two airstrips as China works to project its military power into Southeast Asia. China’s creation of artificial islands in the South China Sea is happening so fast that Beijing will be able to extend the range of its navy, air force, coastguard and fishing fleets before long, according to analysts.

China continues to occupy regions in the South China Sea that have historically belonged to other countries, and continues a massive military to enforce its seizures. China has claimed the entire South China Sea, including regions historically belonging to Vietnam, Brunei, Malaysia, Indonesia, Taiwan and the Philippines. China's claims are rejected by almost everyone outside of China, and China refuses to submit them to the United Nations court deciding such matters, apparently knowing that they would lose. Instead, China is becoming increasingly belligerent militarily, annexing other nations' territories, and militarizing the entire sea.

Director of National Intelligence James Clapper said on Thursday at a Senate hearing that China is making an "aggressive" military effort to exert sovereignty in the South China Sea. However, he said that China was still in a construction phase so it was unclear what weaponry or forces it might deploy on these man-made islands. Guardian (London) and Reuters and Foreign Policy and Reuters (2/20)

China’s Neighbors Bulk Up Militaries

Despite Beijing’s efforts to cool tensions, many nations prepare for potential conflict
By Trefor Moss

MANILA—China’s neighbors are moving forward with the modernization of their militaries with new fighter jets, submarines and other hardware, even as Beijing has tried to tamp down territorial tensions in the region.

The military buildup is an indication that many Asian countries see little reason to adjust their long-term preparations for potential friction with China, despite Beijing’s diplomatic and economic charm offensive.

China made a dramatic shift in its diplomatic approach at a summit in Beijing in November, adopting a more conciliatory tone. This included the first face-to-face meeting between Chinese President Xi Jinping and Japanese Prime Minister Shinzo Abe since both took power in 2012.

That came after China pledged to invest billions in regional ports and infrastructure, with great potential benefits for its neighbors.

Many Asian nations are participating in those programs or receiving other Chinese aid. But underlying sources of tension haven’t gone away.

It has only been half a year since Vietnamese and Chinese vessels were jostling off islands claimed by both countries after China parked a giant oil rig there. A few months after that, Indian and Chinese troops tussled for weeks in the Himalayas along the countries’ disputed border.

Report: North Korea’s Nuclear Weapons Stockpile Could Grow Tenfold by 2020

Research from the US-Korea Institute and NDU warns North Korea’s nuclear and missile programs are developing rapidly.
By Shannon Tiezzi

A new research project warns that North Korea’s nuclear stockpile could grow from roughly 10-16 nuclear weapons at the end of 2014 to 100 by the year 2020. The North Korea Nuclear Futures Project, a joint collaboration between the U.S.-Korea Institute at Johns Hopkins University School of Advanced International Studies and National Defense University, aims to predict possible futures for North Korea’s nuclear and missile programs over the next five years. The major findings were announced to the press by Joel Wit of the U.S.-Korea Institute and David Albright of the Institute for Science and International Security on Tuesday.

The project provided three scenarios for the growth of North Korea’s nuclear and missile programs over the next five years. Under the “minimal growth, minimal modernization” scenario – a best care scenario for concerned observers – North Korea conducts no further nuclear or missile tests and its technology progresses slowly. Even under this scenario, North Korea is expected to roughly double its stockpile of available nuclear weapons, from 10 to 20.

In the moderate scenario, which postulates North Korea’s nuclear and missile programs continue to develop at the same pace as they have so far, Pyongyang will have 50 nuclear weapons by 2020 and will be able to mount them on both mobile intermediate-range ballistic missiles (IRBMS) and possibly even intercontinental ballistic missiles (ICBMs). The worst-case scenario, assuming an increased commitment to the nuclear and missile programs, would involve rapid growth, including successful efforts to gain foreign technologies and information). Wit described this as a “pretty scary scenario” of “dramatic expansion” that would see North Korea armed with 100 nuclear weapons by 2020 to go along with 20-30 ICBMs.

The report also warns that North Korea already has the capability to mount miniaturized warheads on both its short-range Nodong missile (which can cover most of the Northeast Asian theater) and its Taepodong-2 missile, which has the potential to be used as an ICBM. Wit notes that, given current capabilities, North Korea could amass a nuclear arsenal of around 100 weapons and mount them on Nodong missiles able to reach South Korea and Japan by 2020 even without ever conducting another nuclear or missile test.

Pence for Defense

The presidential candidates could learn from Indiana’s governor.

Lost in much of the reporting about CPAC is that almost all of the likely presidential candidates—really, all of them, with the exception of Rand Paul—seemed to place themselves at the Reaganite hawkish-internationalist end of the foreign policy spectrum. The much-heralded return of Republican isolationism or anti-interventionism wasn’t much in evidence, except during Rand Paul's half hour on the stage. The other candidates all criticized President Obama for his foreign policy weakness and timidity, and made the case for greater American strength and resolve.

Of course, most of the speakers didn't go into great detail, especially on the question of the defense budget and rebuilding the military. One could even get the mistaken impression from them that a simple change of attitude in the White House would solve almost all our problems. It's true that such a change in attitude would help a lot, but the fact is that additional resources for defense are needed to undergird any policy of peace through strength. Some of the candidates tended to gloss over that fact.

China Military

North Korea
France and Italy are the Next Causalities of the Credit Bubble

Editor's note: This article is excerpted from The State of the Global Markets Report -- 2015 Edition, a publication of Elliott Wave International, the world's largest financial forecasting firm. Data is updated to December 2014. You can download the full, 53-page report here. 

These two charts depict two imminent casualties of the credit bubble -- France and Italy -- where sentiment has decoupled from reality.

In November 2014, yields on 10-year French and Italian bonds fell to fresh multiyear lows (the sentiment), while unemployment pushed to record highs (the reality). In December, France reported the largest monthly spike in unemployment since February 2014, with more French workers now jobless than ever before. Italy, too, just got hit with a double whammy. At 13.2%, Italian joblessness also hit a new record, while CPI inflation came in at just 0.2%.

Keep in mind that these are Europe's second- and third-largest economies.

The data, meanwhile, confirms one of our longest-standing forecasts: that deflation will triumph over central bank stimulus, because consumers will delay purchases once they start to see that prices are falling. In November, a Reuters special report, "Why Italy's Stay-Home Shoppers Terrify the Eurozone," sought to explain why efforts to resuscitate Italy's moribund economy have failed.

Sure enough, the chief executive of a Milan-based shopkeepers association reports, "People aren't stocking up because they know prices will be lower in a month's time."

Moreover, shoppers are simply demanding steeper discounts. Italy's largest supermarkets, for instance, sell up to 40% of their products below their recommended retail price, yet the price cuts still routinely fail to increase demand. Says Reuters, "Italians are hoarding what money they have and cutting back on basic purchases...." Indeed, consumer prices in Italy have fallen on a yearly basis for the first time in half a century. Meanwhile, the country has lost 15% of its manufacturing capacity and more than 80,000 shops and small businesses since the country first entered recession back in 2008. "Those that remain are slashing prices in a battle to survive," Reuters reports. 

Once Again..........................The Credit Markets and the Equity Markets Can't be BOTH Right!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!

In Search of Solutions – An Interview with Dr. Lacy H. Hunt
By Erico Matias Tavares,
Sinclair & Co.

We had the great pleasure of speaking with Dr. Lacy H. Hunt on the current state of the economy, the limitations of monetary policy and potential solutions to the overindebtedness problem in the main global economies.

Erico Tavares: Dr. Hunt, thank you for being with us today. Your firm manages over $6 billion in treasuries. With the S&P500 at record highs, do you share equity investors’ enthusiasm with the economic prospects of America?

Lacy Hunt: I think the S&P is disconnected from the fundamentals in the US economy. Growth last year was a quarter slower than it was in 2013. We’re on the cusp of either zero inflation or deflation. Corporate profits using the Bureau of Economic Analysis numbers, compiled using data from the Internal Revenue Service, showed year over declines in all the first three quarters of last year (4Q is not yet available). In the third quarter, the after-tax profits adjusted for inventory gains/losses and over/under depreciation were 7% below a year ago.

The standard of living declined again in 2014. And a lot of the growth we had in 2014 really was a massive building of inventories, which is often the case when stock prices are high and top line is decelerating.

The economy enters 2015 in very weak shape. None of the big ticket sectors are doing well. Capital spending is declining, being paced by extreme weakness in oil & gas drilling, which has really been the driving force in manufacturing over the last four years. The best you can say about the housing sector is that it is flat. Not a very important sector.

Vehicle sales are below the best levels of last year and the trade sector is deteriorating. It is very difficult to move the US economy forward by selling things over the counter and through the shopping cart. The US economy is very fragile. And the fragility is highlighted by the fact that firms simply do not have pricing power.

Here Is The Reason Why Stocks Just Had Their Best Month Since October 2011

Despite ending the month with a whimper, after Fed vice-chairman's hawkish words spooked the market on Friday afternoon, February was the best month for equities in over three years - since October of 2011 - driven by a 7% Nasdaq surge on the back of a gigantic move higher in Apple. And yet, as we have shown time and again, none of this reflects the "decoupling" US underlying economy, which if anything has rapidly recoupled with the rest of the world following 38 data "misses" and only 6 "beats"- the worst "surprise" index in 12 months...

So if not the economy or fundamentals, and if not the Fed, which as we know is still on sabbatical after its massive QE1-2-Twist-3 $3 trillion liquidity injection, just what has pushed stocks up to jawdropping all time highs?

Here, courtesy of Deutsche Bank, is the answer: 

Warning: High-Risk "Junk" Bond Squeeze Headed for Oil Market
By Money Morning

The collapse in oil prices has created a ticking time bomb in the energy markets.

You see, fueled by the market's easy money policies, a big portion of the expansion in the energy markets has been financed with high-risk "junk" bonds .

The Fracking Bust Exacts its Pound of Flesh
By Wolf Richter

Breath-taking booms and obliterating busts have made the oil and gas business. Booms draw money, which begets more money, which allows for technologies to be invented or perfected, and it builds enthusiasm that turns into blind faith among investors, and they throw more money at it. The money gets drilled into the ground. The debt remains on the balance sheet. Production soars. Demand doesn’t keep up. Storage levels rise. The price begins to plunge. And all heck breaks loose.

The fracking bust didn’t start last summer when the price of oil began to skid. It started in October and has progressed with phenomenal rapidity. In the latest week, according to Baker Hughes, which publishes the data every Friday, drillers idled an additional 33 oil rigs. Only 986 rigs were still active, down 38.7% from October, when they’d peaked at 1,609. In a period of 20 weeks, drillers have cut the number of rigs drilling for oil by 623, the steepest, deepest rig-count nose dive in the data series: 

Dr. Lacy H. Hunt 

The Coming CORRECTION "IS" going to be BRUTAL!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!! 

Friday, February 27, 2015

As Greece Scrambles To End Its Bank Run, JPM Throws A Wrench: Says Deposit Outflows Continued After "Deal"

Now that Greece and the Eurogroup are back on the same page and "cooperating" to use a game theory term, and any attempts of Eurozone "defection", pardon the pun, by the Syrizia government have been postponed until the 4 month bailout extension runs out in June when the entire charade is set to repeat, it is critical for Greece to undo the mess that the Troika did when heading into the mid-February negotiations, the ECB did everything in its power to foment a massive bank run by spooking both banks and citizens that their funds may be Corzined, or otherwise capital controlled, thereby crushing any negotiation leverage the Tsipras government may have (just as we had laid out previously).

What we do know, is that it didn't take much, and sure enough in the month of January, Greek banks suffered the biggest deposit outflow in both absolute and relative terms in Greek history. 

Humiliated Greece eyes Byzantine pivot as crisis deepens

Neither side holds the upper hand in the strategic game of chicken which could still see Greece forced out of the euro
By Ambrose Evans-Pritchard, in Athens

Greece's new currency designs are ready. The green 50 drachma note features Cornelius Castoriadis, the Marxisant philosopher and sworn enemy of privatisation.

The Nobel poet Odysseus Elytis - voice of Eastward-looking Hellenism - honours the 200 note. The bills rise to 10,000 drachma, a wise precaution lest there is a hyperinflationary shock as Greece breaks out of its debt-deflation trap at high velocity.

The amateur blueprints are a minor sensation in Greek artistic circles. They are only half in jest.

Greece's Syriza radicals have signed a fragile ceasefire with the eurozone's creditor powers. Few think this can last as escalating deadlines reach their kairotic moment in June.

Each side has agreed to a deception with equal cynicism, knowing that the interim deal evades the true nature of Greece's crisis and cannot bridge the immense political divide. 

The ""NEW""  Drachma Notes

Γιατί ο Π. Βατικιώτης σχεδίασε τη "νέα δραχμή". Δείτε τα νέα χαρτονομίσματα

The Economic Consequences of Greece

TILTON – The first sentence of the 1957 Treaty of Rome – the founding document of what would eventually become the European Union – calls for “an ever-closer union among the peoples of Europe." Recently, however, that ideal has come under threat, undermined by its own political elite, which adopted a common currency while entirely neglecting the underlying fault lines.

Today, those cracks have been exposed – and widened – by the seemingly never-ending Greek crisis. And nowhere are they more evident than in Greece's relationship with the International Monetary Fund.

When the euro crisis erupted in 2010, European officials realized that they lacked the necessary expertise to manage the threat of sovereign defaults and the potential breakup of the monetary union. For EU officials, avoiding the eurozone's collapse became the top political imperative, so they turned to the IMF for help. The irregularities in the Fund's resulting intervention attest to how serious the eurozone's problems were – and continue to be.

For starters, the IMF's Articles of Agreement require it to interact only with entities that are fully accountable for the help received: a member country's “treasury, central bank, stabilization fund, or other similar fiscal agency." But the institutions with which the IMF is dealing in the eurozone are no longer responsible for their country's macroeconomic management; that power lies with the European Central Bank. In lending to Greece, it is as if the Fund had lent to a sub-national unit, such as a provincial or city government, without insisting on repayment guarantees from the national authorities.

Ultimatums from unelected institutions that have compromised their own legitimacy have inflamed anti-EU sentiment across the continent. The single worst outcome of the current negotiations would be Greece's submission to its creditors' demands, with few concessions in return. Such a result would fuel greater public support for anti-EU parties and movements elsewhere, and would amount to a missed opportunity for Greece and Europe.

That opportunity is default and exit from the eurozone, which would allow Greece to begin correcting past mistakes and putting its economy on the path to recovery and sustainable growth. At that point, the EU would be wise to follow suit, by unraveling the currency union and providing debt reduction for its most distressed economies. Only then can the EU's founding ideals be realized. 

Their Big, Fat Greek Bank Run: Bank Deposits Plunge To 2005 Levels
By Anthony B. Sanders

According to the Bank of Greece, bank deposits have declined to 2005 levels. Hey, I thought CNBC and Fox Business talking heads were saying “All Quiet on the Gyro Front”!

Apparently, the Greek default crisis is not over yet (in fact, it will be ongoing), although the 10Y Greece sovereign debt yield is considerably below its peak from the last time Greece threatened to default on its debt. 

Margret Thatcher once said, "Socialism Works Fine until you Run out of Other People's Money" 

Europeans Truly DESERVE Each OTHER!!!!!!!!!!!!!!!!!!!!!!!!!! 

Live, From Athens, It's Anti-Government Protest Live

Two words can describe yesterday's first anti-government protest organized by the far-left Antarsya party now that the Greek honeymoon with the new Syriza government is over: disorganized and violent, as the following video which captured the gist of yesterday's event - which can hardly be called a protest and if anything was just young angry people tossing Molotov cocktails, shows. 

SHORT the HELL out of the EURO because GREECE ain't going to make the MATH Work!!!!!!!!!!!!!!!!!!!!!!!!!!

New Greece Drachma Revealed Amid Bank Runs - Greeks Buy Gold Sovereigns
By: GoldCore

- Greece warns may default on IMF loan next week

- Greek bank runs continue and deposits flee

- German Bundestag votes for bailout extension

- Syriza agree to a bailout extension of four months, in return for concessions yet to be approved by the EU

- Questions over Syriza negotiating a weak deal despite it’s strong position

- Greece and EU buying time to arrange orderly “Grexit”?

- Greece has printing presses poised to print newly designed Greek Drachmas

- Greeks buying gold bullion

The Euro Working Group discussed Greece’s imminent funding problems yesterday amid mounting concern about how the country will meet its massive obligations.

Minister of State for Coordinating Government Operations Alekos Flambouraris suggested yesterday that Greece might delay payment to the IMF if it cannot find the necessary money. Greece is due to pay the IMF 1.6 billion euros next month but the Greek Minister said that Athens might ask to delay this payment for two months.

Greek economy contracts by 0.4 percent in the fourth quarter: Data

ATHENS: Greece's troubled economy contracted by 0.4 percent in the fourth quarter of 2014 instead of the 0.2-percent figure given earlier this month, the state statistics agency said on Friday.

"Available seasonally adjusted data indicate that in the fourth quarter of 2014 the gross domestic product in volume terms decreased by 0.4 percent compared with the third quarter of 2014 against the decrease of 0.2 percent that was calculated for the flash estimate," the agency said.

The correction also affected the economy's performance over the year, with slim annual growth trimmed to 0.7 percent compared to 0.8 percent in the previous estimate, according to AFP calculations.

The quarter-on-quarter contraction was the first since Greece in exited a six-year recession last year.

Greece runs out of funding options despite eurozone reprieve
By Jan Strupczewski & Deepa Babington

Greece is running out of options to fund itself despite a four-month bailout extension, raising pressure on Athens to quickly implement reforms it has vocally opposed or default on debt repayments in a matter of weeks.

Eurozone and IMF creditors gave Greece extra time until the end of June to complete the bailout program and receive the remaining 7.2 billion euros but it will not be allowed any funds until it passes a review that could take weeks to negotiate.

Shut out of debt markets and faced with a steep fall in tax revenues, Athens is expected to run out of cash by the middle or end of March. Its finance minister has warned that Greece will struggle to repay creditors starting with a 1.5 billion euro IMF loan repayment due in March.

Athens has been looking for quick fixes to tide it through the coming weeks but has not found one yet.

Euro zone officials hope the liquidity squeeze will force Prime Minister Alexis Tsipras's nascent government to agree reform plans more quickly than the end of April deadline set by creditors, paving the way for bailout funding to be released.

"The liquidity squeeze is being used to push the Greeks to very quickly start discussions on the review and finish that as soon as possible – not even waiting for the end of April," one euro zone official said. 

What Happens If Greece Doesn’t Pay Its Debt to the IMF?
By Ioanna Zikakou 

In March, the Greek government will have to overcome a great obstacle in paying the scheduled installments to the International Monetary Fund (IMF). While Greek ministers were thinking of postponing the repayment installments, it appears extremely unlikely that the IMF will agree to such a suggestion.

According to Greek newspaper “Kathimerini” if Greece does not pay its installments to the IMF then this will constitute the country bankrupt, a fact that will impact a large portion of Greece’s other loans.

Failure to pay the IMF installments in time may cause a series of reactions, which will have a negative impact on Greece and its economy. When the IMF gives out a loan then it is the first to be repaid. If a country fails to pay its obligation, then it may be considered bankrupt.

In this case Greece would face two major consequences. Firstly, according to market executives, due to cross-terms the European Stability Mechanism (EFSF) could theoretically demand the repayment of loans that it has provided to the country.

As IMF Default Looms & Tax Revenues Plunge, Greek Stocks & Bonds Tumble

As the rest of the world appears happy to assume everything is fixed in Europe (and if it's not, Draghi will buy it back to being awesome), Greece is looking unwell once again. Initial exuberance has faded dramatically in the last 3 days as IMF default warnings and a 22.5% plunge in tax revenues has sparked concerns about Greece's sustainability once again. Default (or restructuring) risk is soaring, Greek bond yields are surging, stocks sliding, and Greek banks (bonds and stocks) are getting hammered. As The Guardian's Helena Smith notes, "the country is in a strategic vacuum," and next week's T-Bill auction could be a major catalyst.

Greek Stocks and Bonds Ugly...

GREECE............................The END of the EMU as WE Know it TODAY WILL NOT Make it to the end of 2015!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!

EUROPE...........................Totally SCREWED for the REST of this DECADE!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!! 
2015 WILL be the FIRST Year that Planet EARTH Will be able to SEE just HOW Costly Obamacare Really "IS" and How it Will Impact the U.S. Economy in the 2H of this Decade!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!

The American MIDDLE Class "IS" Totally Ignorant to the HELL Coming at them thanks to Obama and the ""LIBERALS"" in the ***House of PAIN***(Congress) but by the FALL of 2016 THEY are going to SEE Just how BAD Obama and the LIBERALS in Congress FUCKED Them with Obamacare!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!

ROTFLMFAO in TEARS!!!!!!!!!!!!!!!!!!!!! America, YOU are SOOOOOOOOOOOOOO Deserving of THIS Royal SCREW JOB that's coming at YOU!!!!!!!!!!!!!!!!!!!!!!!!!!!!

Here Is What Americans Spent Their "Gas Savings" On

Last quarter, in "This Is What Americans Spent The Most Money On In Q4" we showed that according to the first estimate of Q4 GDP data, the American consumer spent a whopping $20.4 billion in nominal dollars on healthcare, which also resulted in the biggest consumption contribution to GDP in years.

Today, following the first revision of consumer spending, we learn that in the fourth quarter Americans spent even more on healthcare, pushing the total up by $1 billion more, to a whopping $21.4 Bn, or 18% of all spending on goods and services in Q4.

This upward revision on healthcare, of which Obamacare was the primary source of mandatory spending, takes places even as the bulk of the key spending line items were revised lower following the revision.

In any event, the math is clear - the next time anyone asks you what Americans spent their so-called "gas savings" on in Q4, and why retail sales in the end of 2014 (and the start of 2015) were so weak, show them this chart. 

Treasury won't explain decision to make $3 billion in Obamacare payments
By Philip Klein

The U.S. Treasury Department has rebuffed a request by House Ways and Means Chairman Rep. Paul Ryan, R- Wis., to explain $3 billion in payments that were made to health insurers even though Congress never authorized the spending through annual appropriations.

At issue are payments to insurers known as cost-sharing subsidies. These payments come about because President Obama’s healthcare law forces insurers to limit out-of-pocket costs for certain low income individuals by capping consumer expenses, such as deductibles and co-payments, in insurance policies. In exchange for capping these charges, insurers are supposed to receive compensation.

What’s tricky is that Congress never authorized any money to make such payments to insurers in its annual appropriations, but the Department of Health and Human Services, with the cooperation of the U.S. Treasury, made them anyway.

A grim warning cry on soaring US debt
By Betsy McCaughey

President Obama’s self-congratulatory State of the Union message last week made it sound like our nation’s problems are behind us. But on Tuesday the nonpartisan Congressional Budget Office set the record straight with a blistering warning.

The CBO cautioned that America’s unaffordable public programs and crushing debt will condemn us to anemic economic growth.

Total federal debt will reach $22.3 trillion by 2020. Unsustainable, says the CBO — especially when now-low interest rates return to normal.

Don’t count on spendaholics in Congress to take this warning seriously. Sen. Chuck Schumer (D-NY), for example, responded to the CBO by boasting about this year’ s $468 billion federal deficit — the smallest since Obama took office — and smirking at “Republican rhetoric about ‘a big government’ boogeyman.”

Sorry, senator. The CBO predicts you won’t be seeing deficits that small again except in the rear-view mirror. By 2020, the deficit will nearly double, as federal spending reaches a staggering $4.8 trillion.

A four-foot stack of $100 bills totals $1 million. To get to $1 billion, you need seven stacks as high as the Washington monument. To get to $4.8 trillion, you need 33,000 Washington monuments. 

Obamacare Is the Mess We All Feared
By Rush Limbaugh

RUSH: This is another one.  This was utterly predictable.  It's been on the verge of becoming reality all this past week.  You remember earlier this week we had a story? There were three Democrats. Sander Levin was one of them.  There were two others.  Baghdad Jim McDermott and one other.  They were just outraged, do you remember, because so many of their constituents did not know the final enrollment date for Obamacare.

And because they had missed it, they were then going to be subject to fines for not having health insurance.  It's right there in the law, but these constituents of these Democrats didn't know it, and neither did the Democrats!  It's the most amazing thing. Three Democrats of the many who voted for Obamacare were out acting like they didn't know this either, like some aliens had snuck this provision in there.  And by golly, by gosh, they were going to get to the bottom of it!  And they were going to figure out how this happened.

Well, it happened because they voted for it.

It's always been the case in Obamacare that if you don't have health insurance by a date certain, then you're going to have to pay a fine.  The only two options in this country anymore, when it comes to health care: Either you have a policy or you pay a fine for not having a policy.  The fine works this way.  Very simply, it's 325 bucks or 2% of your adjusted gross income, whichever is the greater.  But then it escalates.  Now the 325 bucks, that's much cheaper than any policy anybody can get other than a free one.

So it was assumed by many that a lot of people will pay the fine on purpose.  The young, the healthy, the uninformed.  The idiots, the derelicts, the people paying no attention and don't even know about this.  What people were not told is the mechanism for paying the fine.  That's why we needed 16,000 new IRS agents, because it's right there in Obamacare: If you don't buy insurance and therefore are subject to the fine, where are they going to go to get the money from you?  They're not going to send you a bill.

They're just going to take what you owe from your income tax refund every year.

Now, what if you don't get an income tax refund?  Then they will send you a bill, or they will charge your penalty against further refunds.  One way or the other, the federal government is going to get what you owe them if you don't have insurance.  Well, the story was about all of these Democrat voters who didn't know any of this.  They also didn't know that the enrollment period had expired.  They didn't know any of it. 

Gov't sends wrong tax info to many ObamaCare subscribers

A look at fallout from error

Obama's health care team grilled on Capitol Hill

What details were revealed in hearings?

Obamacare.................................America, YOU Can't AFFORD this ""LIBERAL"" Screw JOB!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!