The IMF on Thursday issued its own analysis on the Greek economy. The new debt forecast numbers have been raised in recent months and while the IMF analysis is never on point (way too optimistic), this tends to make the new number even more shocking. The entire idea of lending more and more money and raising taxes only reduces the economy, increases bad loans, and perpetuates inflation. All these policies ever do is promote bondholders at the expense of the population. This is why our Solution is so critical. Continue reading
The Greek finance minister has said the country is on ‘war footing’ as money runs so low at the banks that they would collapse within hours were they to open again on Tuesday.
“We are on a war footing in this country,” Yanis Varoufakis said. Continue reading
Over the past several weeks we’ve documented the acute cash crunch that’s crippled the Greek banking sector and ultimately brought the country to its knees.
As the crisis unfolded and Athens’ negotiations with creditors became increasingly contentious, Greek banks began to bleed cash. Eventually it became clear that the banks were relying entirely on the Eurosystem to meet outflows.
Meanwhile, banknotes in circulation surged, as cash usage jumped 44%, prompting Barclays to note that “the amount of banknotes in excess of the quota for Greece represents a liability of the BoG to the Eurosystem.” Essentially, we said, Greece was quietly printing billions of euros.
Now, with the ECB holding steady on the ELA cap and the banking system still hemorrhaging deposits despite the imposition of capital controls, Greek banks are running out of cash — literally. Continue reading
According to our inside source — FBI agents are telling their friends and family members to avoid “official celebrations.” Continue reading
Iran took possession of a 13-ton hoard of gold — worth nearly $500 million — held up by sanctions after working out a deal on the sidelines of nuclear talks in Vienna, the country’s central bank chief told Iranian media.
“A sum of 13 tons of gold that had been purchased before and was deposited in South Africa in the past two years and could not be transferred to Iran due to the sanctions … was delivered to the Central Bank of Iran’s treasury last night,” Valiollah Seif, who heads the Central Bank of Iran, said Wednesday, according to the Iranian state-owned Fars News. Continue reading
“Drug dealers have found a way to move money without it being followed,” said Tyrone Powers, Former FBI Agent. “They found a way to move people in and out and they found a way to move product.”
But these tunnels could easily be an underground highway for ISIS to spawn its brutality here. Continue reading
New Russian submarine facilities currently under construction on the Kamchatka Peninsula could be completed by the end of October USNI News reports.
The Rybachiy Nuclear Submarine Base, located nine miles (15 kilometers) across Avacha Bay from the region’s capital Petropavlovsk-Kamchatsky, is home to most of Russia’s Pacific nuclear submarine fleet and will be the homeport of the Russian Navy’s new Borei-class (aka Dolgorukiy-class), Project 955, fourth generation SSBN (Ship, Submersible, Ballistic, Nuclear) submarines.
Much of the espionage activity by the two spy agencies concentrated on Toronto’s sizable Eastern European expatriate community, especially on immigrants with Ukrainian and Polish roots. In one document dating from 1959, a CIA officer details the profiles of 18 Canadian citizens, most of them Toronto residents, who were suspected by Langley to be working for the KGB. Most of them were believed to be non-official-cover operatives, or NOCs, as they are known in the US Intelligence Community. The term typically refers to high-level principal agents or officers of an intelligence agency, who operate without official connection to the diplomatic authorities of the country that employs them. The declassified document explains that the suspected NOCs had secretly traveled to the USSR after being recruited by the KGB. They were then trained as spies before returning to Canada years later under new identities. Continue reading
SWEDEN’S top military commander says Russian fighter pilots are behaving in an increasingly aggressive manner in northern Europe, flying dangerously close to Swedish air force jets and in some cases even releasing flares at them.
Supreme Commander Sverker Goransson told a seminar on the Swedish island of Gotland on Monday that the Russians are breaking the normal rules of conduct for when military aircraft meet in the air. Continue reading
Although turbulent, you’re looking at the next superpower in a post-American world. Through the chaos, and as done with Cyprus, economic leverage is hammered into member states. Greece is only the next to fall in line. It was by design that the system would fail to shore everything up and create a United States of Europe.
The development of the EU Army is underway and not far behind. In a bigger picture perspective, not too many realize that it’s Germany pulling the strings via its Troika instrument. Some see the Troika, but not who’s behind it. The Fourth Reich has landed.
German Finance Minister Wolfgang Schäuble explained on Tuesday that Greece will remain in the euro, no matter how the referendum ends on Sunday. Two years ago, Mario Draghi commented on the continued existence of the euro by saying that the single currency was just irreversible. Angela Merkel delivered a very cold speech stating there are no known proposals that could lead to a common solution to the crisis. The USA position is of course that they want Greece to remain in the euro solely based upon NATO. Then there is the issue of throwing out Greece’s Finance Minister Yanis Varoufakis from any meeting. Why expel a finance minister? The reason may lie in a hidden scheme. Continue reading
The Islamic State of Iraq and the Levant moved ominously close to Israel’s borders Wednesday, July 1 – not as predicted in the north, but in the south, from the Sinai Peninsula.
There, ISIS followed up on its Ramadan terror outrages in France, Tunisia, Kuwait and Kobani, with a massive assault on Egyptian forces in the northern Sinai region of Sheikh Zuwaid close to the Israeli and Gaza Strip borders.
Not just a terrorist attack, ISIS launched a full-scale military assault, starting with mortar fire and suicide bombings against five Egyptian military checkpoints. Continue reading
The 11th time in a year…
Please see the source for the video.
The FBI is investigating at least 11 physical attacks on high-capacity Internet cables in California’s San Francisco Bay Area dating back a year, including one early Tuesday morning.
The attacks date back to at least July 6, 2014, said FBI Special Agent Greg Wuthrich.
The pattern of attacks raises serious questions about the glaring vulnerability of critical Internet infrastructure, said JJ Thompson, CEO of Rook Security, a security consulting and services provider in Indianapolis. Continue reading