FLASH BOYS’ PROGRAMMER IN GOLDMAN THEFT HAS CHARGES TOSSED OUT
Like a game of chess Tsipras may have just sacrificed a knight in order to achieve a greater strategic aim – the marketing of a compromise deal to highly sceptical northern European countries. Were Greece to be expelled, and our television screens filled with Greek humanitarian causes, the likelihood of any euro nation passing additional powers to an increasingly European feckless elite has become essentially zero.
The Greek referendum landslide "No" vote came and went and just hours after its passage claimed its first head, which was - perhaps somewhat surprisingly - that of the Greek finance minister himself, Yanis Varoufakis, who many say orchestrated the referendum seen as a loud endorsement of the government's actions. As of this morning he is no more. Here is why in his own words.
With virtually all polling completed, the final result is 61.3% No, 38.7% Yes - a whopping rejection of Troika hegemony which may also be the final nail in any negotiations between Greece and the Eurogroup.
Most leading indicators are warning; more trouble could be ahead...
On Sunday, the China Securities Regulatory Commission announced that the PBoC is set to inject capital into China Securities Finance Corp which will use the funds to help brokerages expand their businesses and reinvigorate stocks. In other words, the PBoC is now in the business of financing leveraged stock buying.
Even if you never intended to offend anyone and you had no idea that your words were insulting, in some countries you can be detained without bail and sentenced to years in prison for such speech. Today, there are highly restrictive hate speech laws in Canada, in Mexico and in virtually every single European nation. The United States is still an exception, but the truth is that our liberties and freedoms are being eroded every single day, and it is only a matter of time until “hate speech laws” are used to take away our freedom of speech too.
Well, it seems Ellen Pao managed to step in yet another bucket of syrup.
Meanwhile, Greece defaults on an ECB payment nobody remembered...
Athens floods to Syntagma square to demonstrate their support for a "No" vote in what may be one of the biggest demonstrations in history.
The Greece impasse set to culminate on Sunday continues to have a massive impact on at least one stock market, unfortunately it is the wrong one, located on a continent which is mostly irrelevant to the future of the Greek people (unless that whole AIIB bailout does take place of course). We are, of course, talking about China which as noted earlier, started off horribly, plunging over 7% with over 1000 stocks hitting 10% limit down, then in the afternoon session mysteriously recovering all losses and even trading slightly higher on the day, before the late selling returned once more, and the Shanghai Composite plunged to close down 5.8%: an unimaginable 20% total roundtrip move!
Earlier this week the FISA court ruled the NSA can continue the bulk collection of phone metadata until November 29. This comes after Congressional gridlock allowed for Section 215 of the Patriot Act, the legal cover for the collection program, to expire on June 1.
When a message needs to be sent by the powers that be, the German press can always be relied upon to send it, no matter how divisive (as they did here, here, and here). So it is no surprise that with the stakes appearing to have never been higher, Handelsblatt unleashes the following...