Riot police are surrounded by flames from petrol bombs thrown by a small group of anti-establishment demonstrators in front of parliament in Athens, July 15, 2015.


A Picture of the FUTURE of The USA?
The Greece Banking Crisis has now imploded within and all Banks have been closed. What are the underlying reasons for this crisis? Is this a picture of things to come for the USA?

Puerto Rico announced it’s about to suffer the same fate and a new chart shows the U.S. is on the same debt path.

Americans have forgotten about the 2008 BANKING CRISIS and BILLIONS of Dollars in BAILOUTS for the Banking and Wallstreet crooks and their reasons of "To Big To FAIL". We Paid for that bailout in Higher taxes and Little to NO INTEREST paid on our bank investments. 

The EU reacted to Greek Prime Minister Alexis Tsipras’s announcement that the country’s decision on whether to accept a bailout deal would be put to a national referendum by showing “contempt” and “disdain” for the very notion of democracy, according to Finance Minister Yanis Varoufakis.
The announcement that Greek banks would be shut for a week was made after the European Central Bank said it would not provide any further emergency monetary support.
ATMs remain open but they are running out of cash fast, despite the fact that Greeks are restricted to withdrawing just 60 euros ($66) a day.

After Tsipras announced the referendum for July 5, the ECB said it would refuse to extend a deadline on an €1.6bn payment to the IMF which is due on Tuesday. If Greece refuses to pay, it could exit the EU and prompt a crash of the Euro single currency.
However, perhaps the most shocking aspect of the whole situation is how the Eurogroup’s finance ministers reacted to the news that the Greek people would get to vote on the bailout.

According to Greek Finance Minister Yanis Varoufakis, “The very idea that a government would consult its people on a problematic proposal put to it by the institutions was treated with incomprehension and often with disdain bordering on contempt.”
“I was even asked: “How do you expect common people to understand such complex issues?” Indeed, democracy did not have a good day in yesterday’s Eurogroup meeting!” he added.

Varoufakis’ revelations about how EU bureaucrats reacted with horror to the notion of the Greek people having a say in their own future again illustrates the inherently undemocratic and authoritarian nature of the European Union.

Current forecasts suggest that Greeks will probably vote to accept the bailout deal, with Varoufakis describing the “yes” vote as a “high probability,” although whether the EU is prepared to wait until the July 5 referendum remains to be seen.


​​​"For God will bring every deed into judgement, with every secret thing, whether good or evil"... Ecclesiastes 12:14

By Peter Krauth, Resource Specialist, Money Morning • July 16, 2015

Protesters gather in front of the Greek Parliament during an anti-austerity rally organized by the country's biggest public sector union ADEDY in Athens, July 15, 2015.

Greek banks were hanging onto a cliff's edge by their fingernails when Greek and European parliaments and finance ministers debated the future of Greece within Europe.

But less than a week after the referendum that said "όχι!" (No!) to more austerity, Prime Minister Tsipras had already betrayed that vote, proposing considerable cuts in exchange for yet another lifeline.

And yet, the euro hardly budged more than a couple of percentage points, and European stocks are actually positive on the year.

That is just where our can-kicking profit opportunity lies... Greek banks were hanging onto a cliff's edge by their fingernails when Greek and European parliaments and finance ministers debated the future of Greece within Europe.

But less than a week after the referendum that said "όχι!" (No!) to more austerity, Prime Minister Tsipras had already betrayed that vote, proposing considerable cuts in exchange for yet another lifeline.

And yet, the euro hardly budged more than a couple of percentage points, and European stocks are actually positive on the year.

That is just where our can-kicking profit opportunity lies...

Tsipras Is Doing What Politicians Do Best

As Greeks prepared to vote in their recent referendum, Prime Minister Tsipras told fans at Syntagma Square in Athens, "I call on you to say a big 'no' to ultimatums, 'no' to blackmail. Turn your back on those who would terrorize you."

The public backed him, voting 61% "No."

Finally, they were done with all that "austerity" being imposed by the rest of Europe.
And yet that referendum was futile. You see, Greeks voted "No" on a bailout offer that European creditors had already withdrawn.

The people thought they were giving Tsipras a mandate to get a "better deal."

But just four days later, Tsipras' government went back to ask its creditors for nearly the exact same deal, reneging not only on the referendum outcome, but on most of the promises his party had made to win the January election.
At left you can see what that initial proposal looked like…

Trading Independence for Time

After negotiating for 17 hours, and well past the initial Sunday deadline, a deal was finally reached to avoid a "Grexit"… for now.

Tsipras caved on nearly all his referendum-mandated demands: less austerity and a reduction in debt. The latest bailout, worth another €86 billion ($94 billion) over three years, will include still more austerity, and of course even more debt.

And still, just for this deal to proceed, the Greek Parliament needs to pass legislation covering everything from full pension reform to increasing the country's value-added tax (VAT). Even then, Eurozone finance ministers will have to rubberstamp these changes, and their own parliaments will need to provide their own approvals.

Many observing economists believe the deal is so onerous, it will ultimately prove impossible to implement.

In the process, Greece has abandoned the little independence it still had and bought itself more time.
You see, a principal feature of the latest deal is the Greek Privatization Fund (GPF).

Greece will have to place government-owned assets into a structure that needs to generate €50 billion of cash through sales. €25 billion of that will go to repay funds needed to recapitalize Greek banks, €12.5 billion to reduce the debt burden, and €12.5 billion towards internal investments.

The GPF will contain valuable Greek assets including utilities and shipping ports. But national treasures like the Acropolis and popular tourist islands are "hands-off."

Initially, the Germans proposed GPF be located in Luxembourg (and partly run by Germany, of course), but that was abandoned as politically suicidal for Tsipras. Rather, the fund will be set up in Greece, managed by Greek authorities, and overseen by "the relevant European institutions."

This situation sets the stage for the stability we need to make this particular play…

The Investment Set to Beat the Markets

Yes, it's true that Greece is a broken economy, with the largest (and still growing) debt in the EU, and unemployment topping 25%. Its banks are shuttered and ATMs running dry until the latest bailout gets the rubber stamp.

But meanwhile, the Barclays Euro Government Bond 10 Year Term Index is only down 2% on the year and has climbed in the past month.

And the Eurozone remains one of the largest and most significant economic areas.

I believe that's the market's assessment that the latest Greek bailout deal will allow European stocks to resume their recent trend and continue outpacing American stocks.

The SPDR Euro Stoxx 50 ETF (NYSE Arca: FEZ) is up 4.7% compared to the S&P's 2.05% year to date.

FEZ is a great proxy for some of the largest companies that are part of the 19 Euro Stoxx Supersector Indexes. Current holdings hail from the healthcare, energy, industrial, financial, automotive, insurance, and consumer staples sectors.

Its top 10 consist of mostly European household names: Sanofi SA (ADR) (NYSE: SNY), Total SA (ADR) (NYSE: TOT), Bayer AG (ADR) (OTCMKTS: BAYRY), Banco Santander SA (ADR) (NYSE: SAN), Anheuser-Busch Inbev SA (ADR) (NYSE: BUD), Daimler AG (OTCMKTS: DDAIF), BASF SE (ADR) (OTCMKTS: BASFY), Siemens AG (ADR) (OTCMKTS: SIEGY), Allianz SE (ADR) (OTCMKTS: AZSEY), and BNP Paribas SA (ADR) (OTCMKTS: BNPQY).

Because don't forget, as bad as this deal may be for both sides in the long term, for now it keeps Greece inside the Eurozone. Meanwhile, the European Central Bank is still very much in QE mode.

And that means Europe is not finished playing catch up to the U.S.

With the new agreement all but locked up, European markets are returning to their cyclical bull market.

It's time to go long European stocks through FEZ – use a hard closing stop of $34.86 (its January low) and a 15% trailing stop.

Max Keiser explains exactly what the Bankers Plans are to sell off Greece and Profit Billions of Troikas

With 90% of the votes counted, the Greek people have voted 61% to 39% against accepting the latest round of austerity that the EU is trying to impose on the Greek people for the benefit of the One Percent. What is amazing is that 39% voted for the One Percent against their own interests. This 39% vote shows that propaganda works to convince people to vote against their own interest.

The vote was not a vote to leave the EU. With the backing of the Greek nation, the Greek government hopes to reopen negotiations with the EU and to find a solution to the debt problem that will actually work. The EU objects to the Greek people having a voice in their fate, and unless common sense prevails is inclined to disregard the vote and to maintain the EU’s inflexible position that the debt issue can be resolved only on the EU’s terms. As has been made perfectly clear, these terms are more looting of the Greek economy by the One Percent.

As the Greek banks are closed and evidently cannot reopen without a resolution of the issue, EU inflexibility would force Greece to leave the euro and return to its own currency in order to reopen the banks. This would not require Greece’s departure from the EU as the UK and one or two other EU member states have their own currencies. However, most likely the EU and Washington and Washington’s Japanese, Canadian, and Australian vassals would attack the new Greek currency and drive its value in exchange markets to such a low value that Greece could not import and wealth held in Greek currency would be worthless abroad.

An inflexible EU creates conditions for Russia and China to act. These two powerful nations have the means to finance Greece and to bring Greece into the economic relationships established by these two countries and by the BRICS.

Alexander Dugin, a Russian strategic thinker who has the ear of the Russian government, has said:

“The Russians are on the side of the Greeks, we will not leave them alone in their suffering. We will help them and give them every possible support. Brussels and the liberal hegemony seek to dismantle Greece. We want to rescue it. We took our religions faith from Greece, as well as our alphabet and our civilization.”

Dugin said that the Greek referendum is the start of “the fundamental European liberalization process from the dictatorship of the New World Order.” He says this also is “our own endeavor.”

The Greek drama is far from over. Pray that the Russian and Chinese governments understand that rescuing Greece is the start of the process of unravelling NATO, Washington’s mechanism for bringing conflict to Russia and China. The One Percent have Italy and Spain targeted for looting, and eventually France and Germany herself. If the Greek people rescue themselves from the clutches of the EU, Italy and Spain could follow.

As Southern Europe departs NATO, Washington’s ability to create violence in Ukraine is diminished as the world realigns against the Evil Empire.

Washington’s power could suddenly diminish, thus saving the world from the nuclear war toward which Washington’s neoconservatives are pushing..

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The establishment media...

Has hidden from view the facts behind the debt and has sided with the banks in declaring the population of Greece deserves austerity and its attendant poverty and misery because of the Greek government’s intransigence and refusal to accept the harsh conditions of the Troika, consisting of the IMF, European Commission and European Central Bank.
Left unsaid is the fact a large portion of the debt totaling about €245 billion was fraudulently dumped on the country in the course of huge bank bailouts in 2010 and 2012.

“And since the huge bank bailouts, ‘Greek debt’ exists only on the basis of the Wall Street practice for unpayable debt, known as ‘extend and pretend.’ Its interest and repayment terms have been so dramatically changed by the creditors — in a backhanded admission that it cannot be paid — that in debt-market terms, it is nearly worthless,” Paul Gallagher wrote in February.
Gallagher explains that the Greek debt swindle is similar to the TARP scam foisted on the American people following the subprime fiasco and a move by the Federal Reserve to print $4 trillion of new money to cover the gambling debt of the financial class. “Its political perpetrators are the same huge banks, and the European Central Bank working with the Federal Reserve,” he writes.
In the course of buying up toxic mortgage securities and derivatives from the United States, the European banks engaged in their own subprime scam and made unrepayable loans to governments in Greece, Ireland, Portugal, and Hungary.

“Big Wall Street banks were involved, particularly Goldman Sachs, which created ‘magic’ derivatives in 2001: Take a bank loan to Greece, make it look like a mere ‘currency swap’ rather than a debt — but turn it into a much bigger debt ten years later,” Gallagher points out.

But most of the loaned money did not stay in Greece. More than 90% went directly and immediately to Deutschebank, HSBC, JPMorgan Chase, “and their fellow sharks, with small amounts crumbling to the hedge funds swimming alongside.”

Former Greek Labor and Social Security Minister and chair of the National Bank of Greece Louka Katseli said Greece actually spent a meager 3% of the $275 billion loaned by the banksters.

“One of the reasons that everybody is so determined to keep Greece in the euro is so that the banks do not have to take a serious hit on their faulty lending policies,” Nigel Farage, Member of the European Parliament from the UK Independent Party, told RT in 2011. “It is almost as if there is an unholy alliance of politicians and bankers versus ordinary people.”