Did the Greek people just stare into the abyss? Or is the abyss staring into the Greek people? For those who haven't heard, Greece and the Eurozone just went through a hair raising weekend. The bailout talks came to an acrimonious end as the two sides fell apart on the issue of whether Greece should increase revenues by raising taxes or cutting spending.
Tsipras wants the former, the Brussels Group wants the latter. And just like that, the EU was announcing it would not provide any more Emergency Liquidity Assistance to Greek banks and Syriza was taking the issue to the Greek people via a referendum. Then on Monday, it finally happened: the banks failed to open.
After an 8-hour deliberation on Sunday, Prime Minister Tsipris announced that the banks would remain closed until June 6th (the day after the referendum). The decree ordering the closure allows Greek bank account holders to withdraw no more than 60 euros per day from ATMs during the bank holiday. And with one fell swoop, all of those Greeks who were reported stuffing thousands of euros under their mattresses in the last few weeks were vindicated.
The referendum will be a vote on whether to acce...
Since they can't find any evidence that Iran has actually engaged in any nuclear weapons program activities, they are instead using the "we can't prove they haven't, either" tactic to demand unprecedented levels of access to Iran's nuclear facilities...
...if there is no debt deal by the end of this month, the Greek debt crisis is going to totally spin out of control and financial chaos will begin to erupt all over Europe. But instead of trying to be reasonable, EU president Donald Tusk has delivered an ultimatum to Greece. But instead of trying to be reasonable, EU president Donald Tusk “has delivered an ultimatum to Greece”
The Fed came in and gave AIG an emergency loan it (literally) couldn't refuse, took it over and began running the company completely illegally and in violation of the constitution.
It's a strange time right now. On the one hand there is such a sense of calm in the mainstream financial world. And on the other there is a seething, writhing pot of tension boiling away behind the scenes.
But what is the SDR? And why is it important? Why does China want it to act as a super-sovereign reserve currency? And what does that even mean?
...it's difficult to think of a major area of the economy that has not been supplemented by volunteer networks, community organizations, complementary currencies and other resourceful answers to the question of how the people can take care of themselves in the absence of a solvent government.
It's a point that's been made many, many times before, but it's no less valid: there are many of us. There are very few of "them." The power to transform this world still rests primarily in our hands...
Could this be, as the Daily Mail and its ilk are all too keen to suggest, simply a case of overworked young investment bankers choosing the easy way out? It’s a possibility. But could it be something much more sinister?
The world situation is grim at the moment; no one can deny that. But there are plenty of hopeful developments that show the future is not written in stone and there are things that we can do to turn things around.
Announcements, news and information.
Get Prepared Expo – Meet USAPrepares.com Instructors, Attend Seminars, and Banquet Dinners March 27, 28, 29, 2015 – Cowan Civic Center – Lebanon, MO
Freeze Dry Guy is pleased to offer this highest quality product at a fraction of the manufacturers, suggested retail price. The Mountain House Freeze Dried Eggs with butter flavor is a must have for your food storage.
If you love Pineapple as much as I do, you’re really going to love ours. We are very excited to offer you our finest quality Pack Away Foods 100% Freeze Dried Pineapple at an introductory price for the month of May.
The creator of the International Forecaster, Bob Chapman.