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Tyler Durden's picture

"Prove You're Not A False Prophet!"; Tsipras Lambasted At Fire And Brimstone European Parliament Session





Facing a new “deadline” to submit a viable proposal to EU creditors and keep Greece in the eurozone, Greek PM Alexis Tsipras faced friends and enemies at the European Parliament in Strasbourg on Wednesday, where there was no shortage of fireworks from both sides of the Grexit debate. 

 
Tyler Durden's picture

China Crashes Most Since 2007 Amid "Panic Sentiment"; Over Half Stocks Suspended, PBOC Promises "Liquidity Support"





*CHINA TRADING HALTS LEAVE 54% OF ENTIRE STOCK MARKET FROZEN, CHINA'S SHANGHAI COMPOSITE INDEX FALLS 8%, MOST SINCE 2007
There's "panic sentiment" currently in our stock market with "unreasonable selling" pressure - China's stock regulator spokesman. PBOC TO KEEP SUPPORTING CHINA SEC. FINANCE FOR STABLE STK MKT

 
Tyler Durden's picture

The Greferendum Shocker: Tsipras "Intended To Lose" And Is Now "Trapped By His Success"





Call it "game theory" gone horribly "chaos theory."

The Greek prime minister who decisively and unexpectedly pushed for a referendum on the last weekend of June, "never expected to win Sunday's referendum on EMU bail-out terms, let alone to preside over a blazing national revolt against foreign control." He got just that, and in a landslide vote at that even though "he called the snap vote with the expectation - and intention - of losing it."

 
Tyler Durden's picture

Thoughts On Greece ... From Zimbabwe





"Greek banks closed for a week, cash withdrawals from ATM’s restricted to a limited amount per person per day is all too familiar to Zimbabweans. We know exactly how this feels: the fear, anger, despair and disbelief that goes with watching your life savings evaporating and knowing there’s nothing you can do to save it."

 
Tyler Durden's picture

F-16 Fighter Collides With Civilian Cessna Over South Carolina





A day of diplomatic blow-ups in Europe just had a more literal, if perhaps more tragic echo, in the US when minutes ago in a scene straight out of Breaking Bad took place in real life when an F-16 fighter jet is said to have crashed into a civillian Cessna airplane, above Highway 52, near Cooper River in Berkely County, 30 miles north of Charleston, South Carolina.

 
Tyler Durden's picture

The Biggest Winner From The Greek Tragedy





For every loser there is a winner, and in the case of Greece and its tragedy, just as millions are about to lose everything, a few not only made billions but quietly, under the guise of "sovereign bailouts" transferred their entire risk onto the taxpaying public.

 
Tyler Durden's picture

The Three Greek "Scenarios" Discussed Today In Brussels





  1. A new program requiring very major structural reforms of the Greek side, and much larger than the last Juncker proposal.
  2. Introduction of parallel currency, primarily through promissory IOU.
  3. Controlled bankruptcy and leaving the euro
 
Tyler Durden's picture

Are You Ready For The e-PATRIOT Act?





Earlier this month, news emerged that the US government had suffered its worst cyberattack ever. There’s a good chance the attack is even worse than what we've read about. So what does the Obama administration want to do to solve the problem? For starters, it’s proposed “economic sanctions” against China, which it holds responsible for the attack. And only a few days after the OPM hack, Senate leaders tacked on the Cybersecurity Information Sharing Act (CISA) - which creates a back-door channel for government agencies to retrieve, analyze, and store enormous volumes of personal data - to a defense bill to avoid debate on the measure. It didn’t work – the Senate failed to advance the legislation for now... but it is a good time to begin securing your electronic life. The US government certainly isn’t going to do it for you.

 
Tyler Durden's picture

The Central Bankers Dilemma: The Pendulum’s Back Swing





With the Federal Reserve’s unwillingness to allow the markets to stand on their own feet, and not be so dependent on their interventionism with QE for years, and Zero interest rates for the same – the tool box may in fact be empty – at the most inopportune time. So here we are, once again, waiting or watching for what could possibly be the start of another contagion effect to ripple through the markets that has the potential of resembling 2008, or worse.  And the only thing to stand in its way will be the faith and/or belief in their omnipotence. For it seems – that’s all they have left. All while we watch the same crumble in the eyes of others across the waters as their Central Banks are being perceived daily more as villains or worse – inept

 
Tyler Durden's picture

Citigroup Just Cornered The "Precious Metals" Derivatives Market





What JPMorgan is doing to the "Other" commodities space, Citigroup has just done to the "Precious Metals" derivative market.

 
Tyler Durden's picture

Nomi Prins: In A World Of Artificial Liquidity – Cash Is King





Global central banks are afraid. Before Greece tried to stand up to the Troika, they were merely worried. Now it’s clear that no matter what they tell themselves and the world about the necessity or even righteousness of their monetary policies, liquidity can still disappear in an instant. Or at least, that’s what they should be thinking. The problem is that central banks have no plan B in the event of a massive liquidity event. In this cauldron of instability and lack of leadership, cash is the one remaining financial possession that Main Street can translate into goods, services and security. That’s why private banks want more control over it.

 
Phoenix Capital Research's picture

The Template for the End Game: Lies and Fraud Followed by Bail-Ins





This process will be spreading throughout the globe going forward. Indeed, the FDIC has proposed precisely the same “bail-in” program if a “systematically important financial institution” were to go belly-up in the US.

 
 
Tim Knight from Slope of Hope's picture

The Surprising Demise of Reddit





Well, it seems Ellen Pao managed to step in yet another bucket of syrup.

 
Tyler Durden's picture

One Heretical, And Not-So-Simple, View On The Greek Referendum





... Greeks should be united in their fight for the rule of law and against the cleptocracy, and not divided over a referendum on an absurd question. That division, however, serves the cleptocrats well—they can go about their usual ways unnoticed. Whoever said “divide and rule” knew what they were talking about.

 
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