Apple

"The time it takes for the global regulatory community and central banking world to find a solution this time may be longer than the time where one episode of big illiquidity happens. Then the question is what to do. In my view the only thing that can be done at that time is that central banks should become again market makers of last resort."

• Greek PM sticks to hard line as contagion hits euro zone bonds (Reuters)
• Greek Deadlock Has Leader Hoping for Miracle to Avoid Default (BBG)
• Greek Showdown Puts Merkel's Teflon Legacy at Risk (BBG)
• Greek standoff saps Europe, dollar swings ahead of Fed (Reuters)
• Allianz Increased Holdings of Greek Debt as Its Largest Investor (BBG)
• French Bonds Infected as Greek Crisis Swells Euro-Region Spreads (BBG)
• Statoil to cut 1,500 more jobs as savings drive intensifies (FT)
• UnitedHealth, Anthem Seek to Buy Smaller Rivals (WSJ)
• Five Million Reasons Why China Could Go to War (BBG)

An odd occurrence took place this past week in the “Land of Unicorns” aka Silicon Valley. The first of what was once described as the “future of social media” canary’s Twitter™, was suddenly struck by the “Where’s The Money” kingdom aka Wall Street. Suddenly, what was once the dulcet tones for acquiring investment capital “eyeballs to monetize” is now being answered by the investment crowd in a much more sobering tone of “Where’s the monetized money?!”

"It's starting to get ugly..."

Step by step instructions on how to make money the old fashioned way in a new fangled technology world!

A state's economy is nothing without the businesses that call it home. However, these companies are not created equally - bigger businesses naturally have outsized influence, generating more revenue, employing more people and (at least theoretically) paying more taxes. So given that corporations are now 'people', who really runs your state in this crony-capitalist land of the free?

As recently as several months ago, the financial press was surprised when a wave of Deutsche Bank employees, particularly those in the bank's legal department (such as here and here), decided to take their own lives. Now at least one Deutsche Banker, perhaps perturbed by the recent news involving the unexpected departure of his co-CEOs coupled with the even more unexpected raid of the bank's global headquarters, has decided to show the jump from sui- to homicide is a simple one.

• Pressing for Greek concessions, Merkel and Hollande keep Tsipras waiting (Reuters)
• Treasuries Extend Slump as Pimco Dumps Two-Thirds of Holdings (BBG)
• U.S. prepares plans for more troops, new base in Iraq: officials (Reuters)
• Texas policeman resigns after video shows him toppling teen (Reuters)
• Kuroda Says Hard to See Yen Dropping More, Spurring Surge (BBG)
• Tech Startups Woo Investors With Unconventional Financial Terms — but Do Numbers Add Up? (WSJ)
• Putin is a 'bully', U.S. needs to respond resolutely: Jeb Bush (Reuters)

Everyone likes to buy things at a discount, right?

Americans are already dispossessed of their livelihoods and careers and their pensions are next. Wherever we look, the fate of populations under Western influence are the same. The Ukrainians are exploited, the Greeks, the British, the Americans. Wherever the West has an imprint, the populations are exploited. Exploitation of the many for the few is the Hallmark of the West, a decrepit, corrupt, and collapsing entity.

• Greece Said to Submit Revised Budget Plan in Bid for Funding (BBG)
• Protesters seek firing of Texas officer who threw girl to ground (Reuters)
• HSBC to cut 50,000 jobs in quest for higher dividends (Reuters)
• U.S. base shipped live anthrax to 19 states plus D.C.: Pentagon (Reuters)
• Obama Administration Opens Door for More Student-Debt Forgiveness (WSJ)
• China Said to Weigh Margin Finance Rule Change Amid Stock Boom (BBG)
• Doctor who trained U.S. troops suspended for macabre techniques (Reuters)
• Exxon to Face Regulators’ Questions Over Quakes (WSJ)

Statistically, we Americans are more likely to be killed by our own children than by terrorists. We are more likely to starve to death. Or die after tripping over furniture...

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.

• White House denies Obama said strong dollar a problem (Reuters)
• Lira Falls to Record Amid Stock Rout as AK Party Loses Majority (BBG)
• Bond-Market Game of Chicken With Fed Is Riskier Than Ever (BBG)
• Xetra Dax enters correction territory (FT)
• China trade shrinks amid slowing demand (FT)
• Greek government eyes compromise with lenders, rules out snap polls (Reuters)
• If You Think Greece’s Crisis Will End Soon, Think Again (BBG)
• China growth data ‘overstated’ due to data error (FT)
• Calpers to Cut External Money Managers by Half (WSJ)