Friday, July 3, 2015

NSA Leak Reveals Both Merkel And Schauble Saw Greek Debt As Unsustainable Even After Haircut | Zero Hedge

NSA Leak Reveals Both Merkel And Schauble Saw Greek Debt As Unsustainable Even After Haircut | Zero Hedge

Several days ago, we posted a NSA cable leaked by Wikileaks, in which then French finance minister Moscovici (currently a European commissioner) was admitted that the French economic situation was "worse than anyone [could] imagine and drastic measures [would] have to be taken in the next two years." It has not improved since then.   
Overnight, in another perhaps even more relevant to the current quagmire in Greece leak, Wikileaks has released another intercepted NSA communication between German Chancellor Angela Merkel and her personal assistant reveals that not only Merkel, but Schauble, were well aware that even with a debt haircut (which took place in 2012 but only for private creditors and whose impact was promptly countered with the debt from the second bailout) Greek debt would be unsustainable. Technically, she did not use that word: she said that "Athens would be unable to overcome its problems even with an additional haircut, since it would not be able to handle the remaining debt."
She was right. And yet here she is, telling Tsipras and the Greek people that all Greece needs is to comply with the existing program when she knows well by her own admission that Greece is insolvent in its current state - precisely what Syriza is arguing and demanding be part of any deal.
Because why bother making a deal if Greece will once again be in default a few months down the line, just as Varoufakis said earlier today.
But where it gets really humorous is where the cable notes that even "Finance Minister Wolfgang Schaeuble alone continued to strongly back another haircut, despite Merkel's efforts to rein him in... with IMF Managing Director Christine Lagarde described as undecided on the issue."
Fast forward to today and now Lagarde is decided, and the IMF admits a 30% Greek haircut is necessary. So, one wonders, why is Syriza getting hell for pushing what both Germany in 2011 and the IMF now admit has to happen in order to have a viable Greek nation. Unless, of course, they don't want a viable Greek nation, and instead want a vassal state that is constantly on the brink of collapse and thus creating enough systemic risk to constantly push the EUR lower.
Becuase, just in case anyone has forgotten, the real issue here is not the fate of Greece or even the rest of the PIIGS, but how can Germany continue enjoying a currency that is substantially weaker than what a far stronger, and export-crushing Deutsche Mark would be at this very moment.
From Wikileaks:
Eurozone Crisis: Merkel Uncertain on Solution to Greek Problems, Would Press U.S. and UK (TS//SI-G//OC/REL TO USA, FVEY)

(TS//SI-G//OC/REL TO USA, FVEY) Discussing the Greek financial crisis with her personal assistant on 11 October, German Chancellor Angela Merkel professed to be at a loss as to which option--another haircut or a transfer union--would be best for addressing the situation. (The term "haircut" refers to the losses that private investors would incur on the current net value of their Greek bond holdings.) Merkel's fear was that Athens would be unable to overcome its problems even with an additional haircut, since it would not be able to handle the remaining debtFurthermore, she doubted that sending financial experts to Greece would be of much help in bringing the financial system there under control. Within the German cabinet, Finance Minister Wolfgang Schnaeuble alone continued to strongly back another haircut, despite Merkel's efforts to rein him in, while France and European Commission President Jose Manuel Barroso were seen to be in favor of a gentler approach. European Central Bank President Jean-Claude Trichet was solidly opposed, with IMF Managing Director Christine Lagarde described as undecided on the issue. Finally, Merkel believed that action must be taken to enact a Financial Transaction Tax (FTT); doing so next year, she assessed, would be a major step toward achieving some balance in relief for banks. In that regard, the Germans thought that pressure could be brought to bear on the U.S. and British governments to help bring about an FTT.

Read document:

NEWS AND VIEWS FROM THE NEFARIUM - Germany & Russia a geopolitical game changer


The new gas pipeline deal between Germany and Russia is a geopolitical game changer.

Thursday, July 2, 2015

Ramstein - Polizei schränkt Grundrechte ein (2015)


Das amerikanische "Imperium" nutzt deutschen Boden für seine perversen und illegalen Drohnenkriege! Damit ist die deutsche Bundesregierung automatisch Kriegsbeteiliger und verantwortlich für zehntausende tote Menschen! Und die Deutschen dürfen nicht einmal ihre demokratischen Grundrechte nutzen, um ihrer Meinung Ausdruck zu verleihen! Ist das wirklich eine Demokratie?

Weiterleitung zur Fortsetzung:

The Life and Wisdom of Giordano Bruno Part 1

Der Markt der Ordnungswidrigkeiten - Andreas Clauss - COMPACT Live

What Are the Strange Spots on These Brand New Images of Pluto?

What Are the Strange Spots on These Brand New Images of Pluto?

What Are the Strange Spots on These Brand New Images of Pluto? 

Read more:

„Alles, was Recht ist!“ im Gespräch mit zwei Studigästen von „Demokratie für Deutschland"


Immer wieder kommt es zur Diskussion darüber, ob Deutschland nun eine Verfassung hat oder nicht. Es gibt dazu die unterschiedlichsten Meinungen. Die beiden Studiogäste in der neuen Ausgabe von „Alles, was Recht ist“, die am Ende des Textbeitrages in voller Länge zu sehen ist, sagen jetzt, dass sie eine Verfassung für das deutsche Volk geschrieben haben, die rechtmäßig seit dem 5. Januar 2015 in Kraft getreten sei. Jetzt werden nur noch ausreichend Unterstützer gesucht, damit diese ratifiziert werden kann.

Den kompletten Textbeitrag zur Sendung mit vielen interessanten Links gibt es unter:

China State Official Hints Beijing May Bailout Greece | Zero Hedge

China State Official Hints Beijing May Bailout Greece | Zero Hedge

On Monday, after Greek PM Alexis Tsipras’ dramatic referendum call sparked a run on Greek ATMs, grocery stores, and gas stations, we did our part to help ameliorate the situation by sending a subtle message to Athens.

Indeed, now may be an opportune time to tap Beijing for a few billion given that Chinaofficially launched the AIIB this week. As a reminder, the success of China’s AIIB membership drive was a political disaster for The White House, which expended considerable effort to discourage US allies from supporting the new China-led venture.
As such, it would be difficult to imagine a more fitting pilot program for the world’s newest supranational lender than a rescue package for the birthplace of Western democracy which has been brought to its knees by that most Western of all multilateral institutions, the IMF. 
And while any funding to Greece from China would likely be channeled through the Silk Road fund (at least for now, given that the AIIB is just a few days old, officially), any aid from Xi Jingping’s deep pockets to Athens would represent a spectacular coup on both an economic and political level.
While the world is by now likely incredulous about the prospects for a Greek “Eastern” pivot (around a half dozen Russian headfakes have made us somewhat numb to the idea), Chinese assistance might be more likely than Europe cares to admit. Sputnik News has more:
China may help Greece directly through its new financial instruments,director of the Quantitative Finance Department at China's Institute of Quantitative and Technical Economics told Sputnik China.

Goldman Sachs predicted in a report published on Wednesday that in a worst-case scenaria China's exports would decline 2.2 percent as a result of Greece's economic crisis. Other than exports to Greece itself, the crisis could also hurt the economies of nearby countries, where Chinese businessmen have also made considerable investments.

"The Greek crisis has an undoubtedly seriously influence on China's trade with Greece and investment into the country. But I think that European countries together with China can help Greece overcome the problems that arose," Fan Mingtao said.

"I believe there are two ways to give Greece Chinese aid. First, within the framework of the international aid through EU countries. Second, China could aid Greece directly. Especially considering the Silk Road Economic Belt and the Asian Infrastructure Investment Bank. China has this ability," Fan added.
Read more:

Thurs 07/02/2015 False Flag Weekly News redux

Großbrand um Tschernobyl-Speerzone - Experten: Konzentration an Cäsium 137 steigt signifikant


Ukrainische Behörden sprechen von insgesamt sechs Brandherden im Umkreis von 30 Kilometer zur Atomruine Tschernobyl, von denen ein Großteil unter Kontrolle sei. RT sprach mit Nuklearwissenschaftlern und Biologen über ihre Einschätzung der Lage. Laut ihren Angaben droht in der Gegend im Zuge der Brände eine Erhöhung von Krebserkrankungen und sie werfen der ukrainischen Regierung vor, das Problem nicht ernst genug zu nehmen. Mehr auf unserer Webseite:

US To Begin the Invasion of Syria. Washington Policymakers Call for the Division, Destruction and Military Occupation of Syria | Global Research - Centre for Research on Globalization

US To Begin the Invasion of Syria. Washington Policymakers Call for the Division, Destruction and Military Occupation of Syria | Global Research - Centre for Research on Globalization

US policymakers sign and date paper calling for the division, destruction, and US occupation of Syria.
Unbeknownst to the general public, their elected politicians do not create the policy that binds their national destiny domestically or within the arena of geopolitics. Instead, corporate-financier funded think tanks do – teams of unelected policymakers which transcend elections, and which produce papers that then become the foundation of legislation rubber stamped by “legislators,” as well as the enumerated talking points repeated ad naseum by the corporate-media.
Such a policy paper has been recently written by the notorious US policy think-tank, the Brookings Institution, titled, “Deconstructing Syria: Towards a regionalized strategy for a confederal country.” The signed and dated open-conspiracy to divide, destroy, then incrementally occupy a sovereign nation thousands of miles from America’s shores serves as a sobering example of how dangerous and enduring modern imperialism is, even in the 21st century.
Pretext ISIS: US Poured Billions Into “Moderates” Who Don’t Exist 
The document openly admits that the US has provided billions in arming and training militants fed into the devastating and increasingly regional conflict. It admits that the US maintains – and should expand – operations in Jordan and NATO-member Turkey to provide even more weapons, cash, and fighters to the already catastrophic conflict.
It then recounts the rise of the so-called “Islamic State” (ISIS), but fails to account from where its money, cash, and weapons came. It should be obvious to readers that if the United States has committed billions in cash, weapons, and training on multiple fronts to alleged “moderates” who for all intents and purposes do not exist on the battlefield, a state-sponsor of greater magnitude would be required to create and sustain ISIS and Al Qaeda’s Al Nusra Front who Brookings admits dominates the “opposition” uncontested.

IMF Bolsters Greek "No" Vote, Says Country Needs Much Bigger Debt Haircut | Zero Hedge

IMF Bolsters Greek "No" Vote, Says Country Needs Much Bigger Debt Haircut | Zero Hedge

If the IMF were a Greek citizen, it would vote "No" in this weekend's referendum.
According to a report prepared prior to capital controls and the banking sector meltdown,any deal that included creditor concessions on fiscal reforms would mean Greece's debt load would have to be written down, as the country would need at least €60 billion in new financing
This should not come as a surprise to our readers because long before Greece returned to the spotlight we reported last October, citing an S&P report, that by the end of 2015 Greek financing would be at least €43 billion.  What we said then: "As for Greece, it appears that suddenly the idyllic image of its recovery is about to be torn to shreds and the Syntagma riotcam will have to come out of hibernation."
We were right about the former, still waiting for the riotcam. We were also right about this:
In other words, Greece will default the second the people start protesting the crushing, and very simple math, and they decide they have had enough of the technocrat and appoint another president. Because, you see, it is not that Greece implemented zero reform, and rooted out the pervasive cooruption that saw billions in foreign "aid" end up in offshore bank accounts of the political oligarchy, or the simple math of sources and uses of funds: it is the danger of the Greek people returning to what they did best in those days of 2010 and 2011 when every other day saw a riot in the center of Athens, that will be the straw that finally breaks the camel's back.

And thus we go back to square one, as we always said we would, when only timing was a matter of debate. Well, we now know the timing: T minus 15 months and counting to yet another Eurozone collapse.
Actually the collapse may have come earlier than that: some 6 months so, depending on what the vote in Sunday's referendum is.
But back to the IMF's report which underscores the Fund's long-standing position that EU creditors will ultimately need to write down their holdings if Greece has any hope of returning to a situation where the country's debt-to-GDP ratio is "sustainable," and suggests Syriza is indeed making a smart move by holding out. 
  • IMF ASSUMES GREEK GDP GROWTH OF 0% IN 2015, 2% IN 2016 AND 3% IN 2017
What this means is that the Troika "joint" position just fractured, and the Greek demands for more debt writedowns, so vociferously rejected by the Eurogroup, were actually valid.
Here's more, via MNI:

Dirk Müller - Tagesausblick 02.07.2015 - Politker-Kommentare zur NSA-Affäre gleichen Volksverdummung


Weitere Themen:
- BMW spricht mit Apple & Google über "das vernetzte Auto"
- Asiatische Märkt im freien Fall
- Politiker rügen Griechenlands Regierung – Ihre unabhängige Finanzinformationsplattform zu den Themen Börse, Wirtschaft, Finanzmarkt von und mit Dirk Müller

Washington Navy Yard locked down after shooting reported — RT USA

Washington Navy Yard locked down after shooting reported — RT USA

Americans Not In The Labor Force Soar By 640,000 To Record 93.6 Million; Participation Rate Drops To 1977 Levels | Zero Hedge

Americans Not In The Labor Force Soar By 640,000 To Record 93.6 Million; Participation Rate Drops To 1977 Levels | Zero Hedge

The devastation of the US labor force continues.
In what was an "unambiguously" unpleasant June jobs payrolls report, with both April and May jobs revised lower, the fact that the number of Americans not in the labor force soared once again, this time by a whopping 640,000 or the most since April 2014 to a record 93.6 million, with the result being a participation rate of 62.6 or where itt was in September 1977, will merely catalyze even more upside to the so called "market" which continues to reflect nothing but central bank liquidity, and thus - the accelerating deterioration of the broader economy.

Merkel aide summons US ambassador over new spying claims | World news | The Guardian

Merkel aide summons US ambassador over new spying claims | World news | The Guardian

Greferendum Odyssey: EU slams door on talks with Greece till Sunday referendum


International creditors have shut the door on talks with Athens until after Sunday's referendum - which is asking whether the country should accept or reject more austerity.

Homemade Guacamole Panini Recipe - Laura Vitale - Laura in the Kitchen E...


To get this complete recipe with instructions and measurements, check out my website:

Vortrag: Harald Kautz-Vella - Neue Physik

part 26 Baalbek, a whole new perspective of the megalithic mysteries of ancient Baalbek documentary


WHEN THE ATLANTIS AND HYPERBOREA SURVIVORS WAKE UP, drafts of part 26 of the work on the next documentary

Baalbek, a whole new perspective of the megalithic mysteries of ancient Baalbek

To get the full picture please watch all episodes, they are found in this playlist

AD 7-1-2015 Pinkerton GPS Hotel Tunis Tracks – Serco 8(a) Cross Dressed Tags White's Club

1. Pinkerton has used timing signals from the GPS atomic clock to track hotel guests around the world since JFK's stay at the Hotel Texas in downtown Fort Worth on November 22, 1963 – the day before a lone gunman killed him in Dallas – and since up to 30 British citizens staying at Tunis hotels were assassinated by another lone gunman on June 26, 2015.

2. Pinkerton appears to have infiltrated crossed-dressing agents (Style Vidocq!) into Serco's (formerly RCA GB 1929) 8(a) companies around the world and allegedly used Serco GPS tagging systems to monitor the snuff-film crews needed to record money shots for online assassination betting clocked through Serco's 8(a) onion router network (Tor).

3. White's Club members, including alumnus David Cameron, Tom "Tagger" Stacey and Serco CEO Rupert Soames, with access to Pinkerton GPS timing signals and Serco's 8(a) agents, allegedly spot fixed the body-bag count for up to 30 British victims of the Tunis online assassinations bettors after the lone gunman was shot after he reached the spot.

Readers are invited to browse Abel Danger's website where United States Marine Field McConnell has proof by contradiction – no rebuttal – of an online assassination betting conspiracy between White's Club, Pinkerton and Serco to deploy GPS tags and cross-dressing 8(a) actors to spot fix the body bag count at a Tunis Hotel on June 26, 2015.

Athens On The Potomac - It Could Never Happen Here, Right? | Zero Hedge

Athens On The Potomac - It Could Never Happen Here, Right? | Zero Hedge

Financial experts in New York, London, and Brussels have tut-tutted Greece’s economic travails as Athens considers its future with the European Union. Why did they borrow so much money? How can they ever pay it back? Do they think that much debt is sustainable?
Instead of pointing fingers at the innumerates running Athens, they should consider our own situation. Jason Russell of the Washington Examiner shows how America’s debt projections look suspiciously like Greece’s recent history.
With all the chaos unravelling in Greece, Congress would be wise to do what it takes to avoid reaching Greek debt levels. But it’s not a matter of sticking to the status quo and avoiding bad decisions that would put the budget on a Greek-like path, because the budget is on that path already.

A quarter-century ago, Greek debt levels were roughly 75 percent of Greece’s economy — about equal to what the U.S. has now. As of 2014, Greek debt levels are about 177 percent of national GDP. Now, the country is considering defaulting on its loans and uncertainty is gripping the economy.

In 25 years, U.S. debt levels are projected to reach 156 percent of the economy, which Greece had in 2012. That projection comes from the Congressional Budget Office’s alternative scenario, which is more realistic than its standard fiscal projection about which spending programs Congress will extend into the future.
Read more:

‘Latest strategy towards Cuba is Trojan horse trying to mask US’s true intentions


The United States is restoring diplomatic ties with Cuba after a more than 50-year freeze, but refuses to negotiate on handing back the Guantanamo Naval Base. Political analyst Daniel Shaw thinks the US strategy is unchanged.

AHK: (Alien Human Kind) "4" - part 5 (C) The Frequency Shift into September 2015 - Dr Simon Atkins' Predictions | Prophecies, Predictions and Visions | Time-Specific Material The Frequency Shift into September 2015 - Dr Simon Atkins' Predictions | Prophecies, Predictions and Visions | Time-Specific Material

Round Table - 29 June 2015-The Vatican, Agenda 21 & restructuring the world

Greece Again Can Save The West | Global Research - Centre for Research on Globalization

Greece Again Can Save The West | Global Research - Centre for Research on Globalization

Like Marathon, Thermopylae, Plateau and Mycale roughly 2,500 years ago, Western freedom again depends on Greece.  Today Washington and its empire of European vassal states are playing the part of the Persian Empire, and belatedly the Greeks have formed a government, Syriza, that refuses to submit to the Washington Empire.
Few people understand that the fate of Western liberty, what remains of it, is at stake in the conflict, and, indeed, the fate of life on earth. Certainly the German government does not understand. Sigmar Gabriel, a German vice-chancellor, has declared the Greek government to be a threat to the European order.  What he means by the “European order” is the right of the stronger countries to loot the weaker ones.
The “Greek crisis” is not about debt.  Debt is the propaganda that the Empire is using to subdue sovereignty throughout the Western world.
The Greek government asked the collection of nations that comprise the  “democratic” European Union for one week’s extension on the debt in order for the Greek people to give their approval or disapproval of the harsh terms being imposed on Greece by the EU commission, the EU Central Bank, and the IMF with Washington’s insistence.
The answer from Europe and the IMF and Washington was “NO.”
The Greek government was told that democracy doesn’t apply when creditors are determined to make Greek citizens pay for the creditors’ mistakes with reduced pensions, reduced health care, reduced education, reduced employment, and reduced social services.  The position of the Empire is that the Greek people are responsible for the mistakes of their foreign creditors, and the Greek people must pay for their creditors’ mistakes, especially those mistakes enabled by Goldman Sachs.
As has been proven conclusively, the Empire’s claim is false.  The austerity measures that have been imposed on Greece have driven down the economy by 27%, thus increasing the ratio of debt to GDP and worsening the financial situation of Greece. All austerity has accomplished is to drive the Greek people further into the ground, thus making debt repayment impossible.

July 1 st 2015 Capricorn Full Moon Aggression is Heightened

Bilderberg Highlights: Global Command & Control System

This is a quick brief regarding some information on agenda and steering committee chairs at Bilderberg 63. They are moving forward with GeoINT's total C2 strategy and it appears, as I outlined in my last report, they will have the capability to ration or withhold energy in virtually all forms as well as food production and distribution. Both of these capabilities were specifically addressed in the 2015 GeoINT Symposium in DC that ended on 6.25.2015.

Research Links:
Bilderberg 6.11.2015 Topics
Bilderberg 2015 Overview
Bilderberg 2015 - The Guardian
Lazard Ltd.
Lazard History
Lazard 09.08.2014
New American Bilderberg2015
4 Things We Know About Bilderberg and 1 Thing we'll Never Know
Bilderberg – Forget the G7 Summit

X-Files Radio - June 28, 2015 Danger of Vaccines & Science of Psychic Phenomena


X-Files Radio - June 28, 2015 Danger of Vaccines & Science of Psychic Phenomena

Author JON E. MICA stresses that autism is a major public health crisis of unequaled proportions. His book accuses the federal government of refusing to acknowledge it as such and having a corrupt and morally unsound relationship with “Big Pharma.” .

Diane Morang is a former investigative reporter specializing in public corruption. She has used her extensive research ability to uncover various documented examples of psychic phenomena and that other dimensions all happen according to the laws of science.

Richard Syrett is the host of The Conspiracy Show and the sometime/fill-in host of the wildly popular Coast to Coast AM radio show.

Pentagon lists Russia, ISIS as major threats in new military strategy


The Pentagon has released a new National Military Strategy, the first since 2011, listing Islamic State, China and Russia as major security threats. RT's Gayane Chichakyan reports.

"Heartbreaking" Scene Unfolds At Greek Banks As Pensioners Clamor For Cash | Zero Hedge

"Heartbreaking" Scene Unfolds At Greek Banks As Pensioners Clamor For Cash | Zero Hedge

1,000 Greek bank branches chanced a stampede in order to open their doors to the country's retirees on Wednesday.
The scene was somewhat chaotic as pensioners formed long lines and the country’s elderly attempted to squeeze through the doors in order to access pension payments.
As Bloomberg reports, payouts were rationed and disbursals were limited according to last name. Here’s more
It’s a day of fresh indignities for the people of Greece.

About a third of the nation’s depleted banks cracked open their doors after being closed for three days. But all they did was ration pension payments, hours after the country became the first advanced economy to miss a payment to the International Monetary Fund and its bailout program expired.

On the third day of capital controls, a few dozen pensioners lined up by 7 a.m. at a central Athens branch of the National Bank of Greece, an hour before opening time. They were to receive a maximum of 120 euros ($133), compared with the average monthly payment of about 600 euros. Many left with nothing after the manager said only those with last names starting with the letters A through K would get paid.

“Not only will I have to queue for hours at the bank in the hope of getting 120 euros, but I’ll have a two-hour round trip,” said Dimitris Danaos, 77, a retired local government worker who was making the bus journey from his home outside the Greek capital to the suburb of Glyfada. 
AFP has more color:

The Rainbow White House - Coded Observation


This video report will show and discuss the hidden code contained in the Rainbow White House.

Once again the colors of the Rainbow are the clues to decode the image. Once decoded, the image shows us the future date of 9-24 and the 10-30 code which is associated with Pope Francis.

Wednesday, July 1, 2015

Greece becomes 1st developed nation to default on intl obligations


The International Monetary Fund has confirmed that it didn't receive the €1.5 billion payment from Athens that was due by the end of June 30, Brussels time, making Greece the first developed country to default on its international obligations. READ MORE:

Get Out Of The US By The End Of The Year - Jeff Berwick on Double Crossed Radio


Jeff is interviewed by Chuck Horton for Double Crossed Radio, topics include: Supreme courts make the congress irrelevant & take power from the states, NDAA, TPP, rapid roll out of the NWO, cashless society, you cant free those who don't see their chains, vanishing privacy, rise of civil forfeiture, most people unaware it is happening, involuntary social contract, the power of the net to propagate counter narrative, we are in the end stages, US government out of control and other counties getting sick of it, Jeff attends the G7 and infiltrates Bilderberg, fake journalism in the main street media, burgeoning freedom in Guatemala, expatriation, Ecuador, Estonia, Cambodia, Columbia, Panama, relative freedom and safety with the US, Liberland, Hong Kong and much more...

Double Crossed Radio: http://UCY.TV/XX

TDV Groups Expat Network:

The Dollar Vigilante on Facebook:

The Dollar Vigilante:

Anarchapulco, Anarchast's Annual Confererence:


Explosive helium leaking from deep earthquake fault zone in S. California – new study — RT USA

Explosive helium leaking from deep earthquake fault zone in S. California – new study — RT USA

Keiser Report: Greece! Start Fresh (E777)


In this episode of the Keiser Report, Max Keiser and Stacy Herbert discuss the idea of “nothing to fear but fear itself” as Greece puts an end to sovereign asset forfeiture as capital controls and bank holidays are declared after its government called a referendum. In the second half, Max interviews American defense attorney Craig Brand about civil asset forfeiture.

WHO/WHAT Is In Our Skies, June 27 2015 Ball Lightning Orbs Relay Points UFOs

For Greeks The Nightmare Is Just Beginning: Here Come The Depositor Haircuts | Zero Hedge

For Greeks The Nightmare Is Just Beginning: Here Come The Depositor Haircuts | Zero Hedge

With capital controls already imposed on Greece, some have wondered if this is as bad as it gets. Unfortunately, as the Cyprus "template" has already shown us, for Greece thenightmare on Eurozone street is just beginning.
As a reminder, over the past few months there have been recurring rumors that as part of its strong-arming tactics the ECB may eventually move to raise the haircuts the Bank of Greece is required to apply to assets pledged by Greek banks as collateral for ELA. The idea is to ensure the haircuts are representative of both the deteriorating condition of Greece's banking sector and the decreased likelihood that Athens will reach a deal with its creditors.
Flashback to April when, on the heels of a decree by the Greek government that mandated the sweep of “excess” cash balances from local governments to the Bank of Greece’s coffers, Bloomberg reported that the ECB was considering three options for haircuts on ELA collateral posted by Greek banks. “Haircuts could be returned to the level of late last year, before the ECB eased its Greek collateral requirements; set at 75 percent; or set at 90 percent,” Bloomberg wrote, adding that “the latter two options could be applied if Greece is in an ‘orderly default’ under a formal ECB program or a ‘disorderly default.’” 
While it’s too early to say just how “orderly” Greece’s default will ultimately be, default they just did if only to the IMF (for now), in the process ending their eligibility under the bailout program and ending any obligation by the European Central Bank to maintain its ELA or its current haircut on Greek collateral, meaning the ECB will once again reconsider their treatment of assets pledged for ELA and as FT reported earlier todayMario Draghi may look to tighten the screws as early as tomorrow:
When the Eurozone’s central bankers meet in Frankfurt on Wednesday, they could make a decision which some officials fear could push one or more of Greece’s largest banks over the edge.

The European Central Bank’s governing council is poised to impose tougher haircuts on the collateral Greek lenders place in exchange for the emergency loans. If the haircuts are tough enough, it could leave banks struggling to access vital funding.

The ECB on Sunday imposed an €89bn ceiling for so-called emergency liquidity assistance, effectively putting the Greek banking system into hibernation. If, to reflect the increased risk of default, the ECB now applied bigger discounts to the Greek government bonds and government-backed assets which lenders use as collateral, that could leave banks struggling to roll over those emergency overnight loans.

Some on its policy-making governing council feel that Athens’ exit from a programme — notwithstanding its 11th-hour request for an extension and third bailout — leaves the ECB with little choice but to take actions that would, in effect, cut the Bank of Greece’s emergency support to Greek lenders.

Some eurozone officials fear that the position at Greece’s biggest lenders is so tight the ECB could be in danger of pushing some weaker banks over the edge if tougher haircuts are imposed.
Recall that in mid-June, Greek banks were said to have had as much as €32 billion in ELA eligible collateral that served as a buffer going forward. Since then, the ELA cap has been lifted by around €5 billion, meaning that a generous estimate (and we say "generous" because according to JPM, Greek banks ran out of ELA collateral weeks ago) puts the buffer at a little more than €25 billion. 

BREAKING !! Congressman..TPP the Final Step To Globalization ?


June 30, 2015.. At a Town-hall meeting in Plains PA, Congressman Matt Cartwright addressed the TPP and made it clear that the TPP will be much worse than NAFTA yet it is being fast tracked through by many in both parties.

Conscious Parenting Episode 3 ~ Child Abuse As Entertainment


Consultations with Lenon Honor:

My name is Lenon Honor and I grew up experiencing various levels of child abuse. Now that I am a father of 5 children I have made the decision not to inflict any level of physical pain onto my children. My wife and I have learned that parents can discipline a child without causing physical pain. Our oldest child is 10 and our youngest child is 3 and we have not observed any negative behavioral issues that would suggest that our child rearing approach is in error.

Recently there have been several stories in the news concerning domestic violence. There has also been a high profile child abuse case involving NFL player Adrian Peterson. This child abuse case has sparked national debate concerning whether or not corporal punishment or spanking a child is an appropriate means of disciplining a child.

Do you believe that children must be spanked in order to be properly disciplined? 

Do you believe that spanking a child is a form of child abuse?

Do you think that there should be limitations on the levels of physical pain that a parent can inflict upon a child?

Will a child have behavioral issues if they are not spanked?

Trauma = Fear = Externalization of Power = Control

Change of behavior because of physical trauma/fear vs. because of intellectual understanding

Being undisciplined while disciplining a child

Should a father spank his daughter?

Family members who spanked their children

The house on Rytko Street was around the corner from my Grandmother Mary’s house. One time my brother and I went to our Grandmother’s house to play with our cousins Sean and Jason. Sean and Jason had an Atari video game system and were playing it at my Grandmother’s house. My brother and I asked if we could go and play with our cousins and my mother said yes. My brother and I were so excited about having an opportunity to play an Atari video game system that we ran to our Grandmother’s house.
After a while our father called us on the phone and told us that we had to come home in 15 minutes. Somehow my brother and I lost track of time. By the time we arrived home my father was very angry. He shouted, “Do you want your spanking now or later?” I paused for a moment and answered, “I want mine now.” My brother answered, “I want mine later.”

The reason why I wanted my beating right away was because I could not bear to wait for my father’s abuse. To have to wait for such abuse would have been emotional and psychological torture. After I gave my answer my father told me to go and get his belt. I brought my father his belt and he began to spank me. I cried as he beat me.

My brother on the other hand asked that he receive his spanking later. I remember later that evening my father spanked my brother. But it was not just a spanking. It was a full out beating. My father used his belt to spank my brother and the abuse kept going on and on and on. I remember I thought to myself “When will it end?” It kept going and going and going. The following day my brother could not sit down on the couch or on a chair because my father had beaten him so badly. My brother had welts, cuts, and bruises all over his body.

These levels of abuse could not be legitimized under any circumstance. And yet my father beat us simply because we were a few minutes late. Instead of my father teaching us the importance of punctuality and how to keep track of time, my brother and I were beaten mercilessly. What we learned from the abuse was how to fear our father even more.