"In sum: the IMF paid itself on behalf of Greece and will now be forced to pay itself back for paying itself later this month. Or, put differently, Greece has prepaid the IMF with IMF money it doesn't have."Next they will rob the pensioners of their hard earned cash (it's all that's left). Check this out -
"Greece is now reliant on a similarly ridiculous circular funding scheme to pay public sector employees whereby pensioners will only receive payments if the government is successful at tapping pension funds for cash."
Greece = Game Over
So, how would you feel if your hard earned life savings, everything that you worked for, was about to be swept away because a bunch of corrupt politicians and banksters got into a get rich scheme which is going to result in the complete destruction of one of the world's oldest countries? That kinda sucks.
It's complete BS is what it is. We're talking about 11 million people (except for the chosen few) are about to be flung into total chaos. No wonder Forbes and others have been over there scouting out the real estate deals that they knew were to come. We are about to see a whole new brand of refugee in Europe - those from a formerly developed country. Spain, Italy, ..... the US - all will follow. How good are things in Italy?
"Nowadays people don't want to raise their child in poverty,"
The US? Sure, we're already $18 trillion in debt and have wiped out our social security fund ($14 trillion owed). With $96 trillion in unfunded liabilities we're kinda in a really deep dark hole of debt. Hey, it's cool though. If we all cough up $815,000 we can be out of this problem overnight! Raise interest rates - on that kind of debt? I don't think so.
So the Greece drama will continue for another month. I'm not so sure the markets will remain as calm this time (see last night). I'd expect more jitters, but also expect some sort of resolution (without the IMF) that will put Greece to bed for another few months, but that will be all. The end is nigh. We're finally there where the note to the band is due. The music is going to stop, and when it does chaos will begin. Once the other troubled countries in the EU see what's happened to the poster child of the Keynesian farce, the populace will become very uneasy. If you live in the EU I'd make sure your property and fire insurance are paid up.
As for what the Fed's about to do - I have no clue. I've long speculated that Greece was a conduit (think AIG '08-'09) they used to fund CB's in the EU and kept the shadow liquidity flowing. Without this mechanism, some light may shine on some dark places they wanted to remain hidden.
On to the lie -
SPX Weekly - Not sure how long this can hold up no matter who or what is manipulating things.
SPX 30m - I've told you that price does not like to stay above the DoD (black diagonal) long.
Freedom watch -
Nothing here today. Jade Helm buildup continues. Now is a really good time to check your prepper stock and make sure all that is in good order.
More to come below.
Have a good day.
GL and GB!