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What happens in Vegas, stays in Vegas... apart from the water. As the following interactive chart from ProPublica shows, water usage in the greater Las Vegas region has more than doubled in the last 40 years and with the drought conditions, every reservoir is near record lows. Welcome To Las Vegas (while water supplies last).

Just two days after Deutsche Bank co-CEOs Anshu Jain and Jürgen Fitschen announced their resignations, the banks offices in Germany, France, and the UK have been searched by authorities.

While most bank executives are concerned about GAFA owning the customer experience, they are blinded to the vision of the forest due to the tree standing in their way. The true risk is outright disintermediation as the banking function is turned into cloud-based P2P software through the blockchain.

Some events make us question in which of the two we might actually be living in: what if it was some version of Bizarro?

• Europe shares set for worst week of 2015 (Reuters)
• Jobs Report Not Likely to Trigger June Rate Hike (Hilsenrath)
• U.S. jobs market seen firming despite lackluster growth (Reuters)
• Gross Says Bond Rout Scary as Hell Even Without Bear Market (BBG)
• Apple Is the New Pimco, and Tim Cook Is the New King of Bonds (BBG), which ZH said in 2013
• In 'year of Apple Pay', many top retailers remain skeptical (Reuters)
• OPEC Nations Signal Few Prospects for Oil-Production Change (BBG)
• China regulator says amending rules on margin trading, short selling  (Reuters)

• China stocks fall, led by ChiNext, on margin tightening; Hong Kong down too (Reuters)
• Bond market sell-off rumbles on, stocks feel the pinch (Reuters)
• Bond Rout Wipes Out 2015 Gains as Traders Stay Glued to Screens (BBG)
• Greek Groundhog Day Continues With Talks Failing to Break Impasse (BBG)
• Greece and Its Creditors Agree on Some Measures in Bailout Talks (WSJ)
• 'Bellingcat Report Doesn't Prove Anything': Expert Criticizes Allegations of Russian MH17 Manipulation (Spiegel)
• GE Said to Hire Banks to Start Sale on $20 Billion Assets (BBG)
• Alibaba Pictures plans $1.6bn share sale (FT)
• How Companies Justify Big Pay Raises for CEOs (BBG)

“A person under surveillance is no longer free; a society under surveillance is no longer a democracy.”

• Former House Speaker Hastert indicted on federal charges (Reuters)
• Blatter expected to win re-election despite soccer corruption scandal (Reuters)
• NYSE Looks to Ease Late-Day Pileup (WSJ)
• What Will Happen to a Generation of Wall Street Traders Who Have Never Seen a Rate Hike? (BBG)
• Japan spending slump casts doubt on central bank optimism  (Reuters)
• Unclear rules, market volatility take toll on bank capital  (Reuters)
• Greece Told Budget a Red Line for Creditors Venting at G-7 (BBG)
• The Economist Who Realized How Crazy We Are (Michael Lewis)
• Pimco Said to Have Considered Goldman’s Cohn for Top Job (BBG)

• No change in Greek debt talks after another day of spin (Reuters)
• G-7 Weighs In on Greece as Government Told to Be Serious (BBG)
• FIFA Faces Mounting Pressure From Sponsors as Visa Threatens to End Deal (WSJ)
• U.S. hopes Chinese island-building will spur Asian response (Reuters)
• Japan Inc.’s $104 Billion Investor Payout Set to Surge (BBG)
• Russia masses heavy firepower on border with Ukraine (Reuters)
• China Says Its Most-Wanted Fugitive Is in U.S. Custody (BBG)

"Total hero to me; total hero... Not necessarily [for] what he exposed, but the fact that he internally came from his own heart, his own belief in the United States Constitution, what democracy and freedom was about."

Switzerland is set to open its first Bitcoin bank, multiple sources tell Handelszeitung. Meanwhile, Xapo, the self-appointed "Fort Knox" of the crypto currency world, is relocating from Silicon Valley to Zurich.

“Things always become obvious after the fact” – Nassim Nicholas Taleb

“Facts do not cease to exist because they are ignored.”  – Aldous Huxley

The police state is about to pass the baton to the surveillance state.

“The ultimate goal of the NSA is total population control.” - William Binney, NSA whistleblower

Hot on the heels of George Soros' warnings that we stand on the verge of World War 3, demanding Washington back off its anti-Yuan pressure, it appears "the good guys" are fighting back with their own good-cop, bad-cop propaganda. As Sputnik News reports, General hans-Lothar Domrose, NATO Commander of the Brunssum Allied Joint Force Command, said in an interview with German magazine Focus Online that Russian President Vladimir Putin is a tough-minded, forward-thinking politician who is capable of foreseeing situations, but also regards him as a dangerous "gambler," who "is willing to use nuclear weapons against NATO troops."