from Wealth Watchman:
Syriza Lights the Molotov Cocktail
Well, brothers, it has finally begun. The moment that all of us “crazy” stackers have stacking silver for in the first place, has now arrived: the beginning of the end of Bretton Woods II, is upon us. For the Greek referendum(which I predicted over 6 weeks ago) has now been announced, and officially approved.
What more is there to say that hasn’t already been said? Everything is about to change. So many aspects of life that literally everyone you know(and perhaps even you yourself), takes for granted, are about to shift gears forever. It’s not that big of a deal though, right? Everyone’s prepared for this titanic collapse already, aren’t they?
by Alasdair Macleod, Gold Money:
Before going into why, a few comments on Greece will set the scene.
Last weekend it became clear that Greece is heading for both a default on its government debt and also a failure of its banking system. With the benefit of hindsight it appears that the Greek government was unwilling to pretend that it was solvent and extend its financial support as if it was. The other Eurozone finance ministers and the troika were not prepared to accept this reality.
There is no immediate benefit from debating why. What matters now are the economic and financial consequences, which are basically two: the Eurozone’s banking system is very fragile and cannot absorb any sovereign default shocks easily, and the ECB itself now needs refinancing. Let’s concentrate on the ECB first.
Read More @ GoldMoney.com
from Zero Hedge:
Earlier today, as the exchange between Greece and its creditors got increasingly belligerent, Estonian Prime Minister Taavi said that “Greece’s debt would still remain outstanding and creditors would expect this money back.” So did this latest antagonism change the Greek mind? According to a flash headline by the WSJ released moments ago, not all. In fact, Greece just made it official that it would default to the IMF in just over 24 hours: “Greece won’t pay IMF tranche due Tuesday, government official says”
Read More @ ZeroHedge.com
by Mike Adams, Natural News:
The legal argument of gay marriage proponents is that because gay marriage is legal in a majority of states, that “right” cannot be infringed by the remaining states which opposed gay marriage. The U.S. Supreme Court, in granting this new, nationwide right to gay marriage, cited the Fourteenth Amendment of the Constitution, Section 1, which states:
No state shall make or enforce any law which shall abridge the privileges or immunities of citizens of the United States; nor shall any state deprive any person of life, liberty, or property, without due process of law; nor deny to any person within its jurisdiction the equal protection of the laws.
Read More @ NaturalNews.com
from Global Research:
The Central Bank of Greece surprised everyone with the publication of their monetary politics for 2014-2015. Besides revealing the consequences of the economic suffocation imposed by Brussels, it concluded that in case of not getting to a prompt deal with its European partners, a crisis of great proportions will be detonated.
“A crisis with a manageable debt as we are currently facing with the help of our partners will transform into an uncontrollable crisis, with great risk for the banking system and for the financial stability”, it quoted. It was the first time this institution seriously contemplated Greece’s separation from the Eurozone.
Read More @ Globalresearch.ca
With the dollar trading lower on the heels of continued chaos in Greece, today a legend in the business sent King World News a powerful piece discussing the turmoil in global markets being triggered by the ongoing Greek tragedy.
From Art Cashin’s notes: Overnight And Overseas – While all eyes are on Greece this morning, perhaps we should also keep an eye on China and Iran. The PBOC cut rates and reduced reserve requirements. In response, Shanghai went on a roller-coaster but ended up down 3.3%. Next couple of days could be critical. The official Iran nuke deadline is tomorrow. That looks impractical but there are limits to how far the can can be kicked.
Michael Pento Audio Interview @ KingWorldNews.com
from Ready Nutrition:
Preparing for disasters can be costly if you have to purchase everything at once. Many preparedness enthusiasts prefer the less stressful route in prepping a little at a time. That said, our monthly budgets sometimes do not allow for expensive, top of the line purchases. That’s when you have to get creative.
When my family rode out the aftermath of Hurricane Ike in 2008, we were off the grid for two weeks and used many emergency items purchased from the Dollar Store. At the time, we were paying off lofty debts and didn’t have the money to buy brand name items. Many of the items I purchased, I outlined in the first week of 52-Weeks to Preparedness, but there are many more Dollar Store finds that I wanted to list today.
Read More @ ReadyNutrition.com
by Michael Snyder, The Economic Collapse Blog:
Is this the beginning of the end for the eurozone? For years, European officials have been trying to “fix Greece”, but nothing has worked. Now a worst case scenario is rapidly unfolding, and a “Grexit” has become more likely than not. On Sunday, the European Central Bank announced that it was not going to provide any more emergency support for Greek banks. But that was the only thing keeping them alive. In order to prevent total chaos, Greek banks have been shut down for at least a week. ATMs are still open, but it is being reported that daily withdrawals will be limited to 60 euros. Of course nobody knows for sure if or when the banks will reopen after this “bank holiday” is over, so needless to say average Greek citizens are pretty freaked out right about now. In addition, the stock market in Greece is not going to open on Monday either. This is what a national financial meltdown looks like, and the nightmare that has been unleashed in Greece will soon start spreading to much of the rest of Europe.
by Mac Slavo, SHTFPlan:
According to the Bank of International Settlements (BIS), the shadowy “central bank of central banks,” the world as it stands is incapable of combating another global financial crash – a crash that there is every reason to think is coming.
That’s because the economy remains in the hands of the Federal Reserve and other central banks. The financial wizards in THIS VIDEO went so far to say that “we are all slaves to the central banks.” It wasn’t exactly hyperbole.
According to the BIS, central banks have already “used up their ammunition” by driving interests to below zero, freezing investment for the important stuff like production and infrastructure, and instead fueling huge bubbles for wonder kids on Wall Street to play in.
Read More @ SHTFPlan.com