Category Archives: Doomsday scenarios

Michael Klare: Russia v. China – Washington Debates Who Should Be Public Enemy Number One

Yves here. It’s mind-boggling to think that the US is confronting China as a hostile power. We are deeply integrated with them economically, so it’s hard to see how this makes any sense. And it reveals classic American short-sightedness, since by letting them become our preferred vendor (as in exporting US jobs to them), we […]

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Tsipras’ Bailout Referendum Sham

At 1:00 AM in Athens on Saturday morning, Greek prime minister Alex Tsipras announced that Greece would hold a referendum on July 5 on whether to accept the terms provided by the creditors in order for Greece to obtain €7.2 billion in “bailout” funds as the final part of a loan package provided to Greece in 2012.

The bailout in fact expires on June 30. It is too late for Greek voters to have any say on the Greek government’s posture in the negotiations. So what was this ploy meant to achieve?

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What If There is No Deal on Greece?

The alarming part of the deadlock between Greece and its lenders is the lack of a plan on the creditor side to develop a Plan B, a sort of mirror image of the Greek government’s claim that its has bet everything on securing a favorable agreement.

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Time to “Fire” Mary Jo White: SEC Covers Up for Bank Capital Accounting Scam Promoted by Her Former Firm, Debevoise

Pam Martens and Russ Martens published a mind-boggling expose yesterday on how the SEC is refusing to stop an abuse by major banks that increases systemic risk.

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Bank of Greece Issues Grexit Warning, in Move Certain to Intensify Bank Run

The Bank of Greece submitted a required report on monetary policy to the Greek Parliament and the Cabinet this morning. The English language version of the press release shows that it says, in stark terms, that failure to reach a pact with Greece’s creditors will lead to a Grexit and likely a departure from the European Union.

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