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LIVE STREAMING: Greece Election Results – June 17th, 2012

Latest update: Greece2012 91.41% total: ND 29.83 (129) Syr 26.78(71) Pasok 12.40 (33) IndGr 7.46 (20) GolDa 6.90 (18) DemLeft 6.16 (17) KKE 4.52 (12)

Greece: SYRIZA party says will not take part in a government that supports an EU/IMF bailout – Reuters

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via ZH:

Ignore the media spin of [...]

JPM loss $2 Billion in trading? This is chicken feed … less than they make in a quarter. So what is the big deal?

by David Pierre

 

Oops! 

JP Morgan has a monkey wrench in their gears.  They call an emergency press conference last night and admitted to a $2 Billion loss which Jamie Dimon said “could get worse and go on for a little bit unfortunately”.

$2 Billion?

This is chicken feed … less than they make in a quarter.  So what is the big deal?

Unless, maybe it is a big deal?

Maybe it is larger than we are being [...]

Is Greek Side Deal With Finland On Bailout Collateral About To Kill Greek Rescue Again?

by ZH

Those who actually recall the nuances of the endless Greek bailout may remember that at one point in 2010 and 2011, one of the main sticking points that threatened to derail the Greek bailout was the demand by Finland to collateralize its contribution to the Greek bailout package. Well, guess what: it’s back. Kathimerini reports that “Finland may sign a deal on securing collateral in exchange for its commitment to Greece’s [...]

The High Cost of 0% Rate

SYSTEMATIC DESTRUCTION OF CAPITAL

The fixture of 0% as monetary policy carries with it an admission that money is worthless. No directive by the flailing discredited US central bank could say it better. Money has no cost because it is not worth anything, being paper in basis and backed by no collateral. The deep storage gold does not count on the USDept Treasury balance sheets, a thin fig leaf to cover [...]

The State of US Surveillance

by Doug Hornig of Casey Research

The State of US Surveillance

Lovers of liberty have seemingly had a good bit to celebrate recently.

First, there was an unprecedented outpouring of negative public sentiment about the Congressional bills SOPA (House) and PIPA (Senate); they are legislation that would have thrown a large governmental monkey wrench into the relatively smooth-running cogs of the Internet. Millions of Americans signed online petitions against the bills after seeing websites’ [...]

The U.S. government could be watching you now: What you need to know

From Doug Hornig, Senior Editor, Casey Research:

Lovers of liberty have seemingly had a good bit to celebrate recently.

First, there was an unprecedented outpouring of negative public sentiment about the Congressional bills SOPA (House) and PIPA (Senate); they are legislation that would have thrown a large governmental monkey wrench into the relatively smooth-running cogs of the Internet. Millions of Americans signed online petitions against the bills after seeing websites’ various protests. [...]

Ron Paul: “Hamas was encouraged and really started by Israel”

Not long ago, Newt Gingrich got into some trouble for claiming that the Palestinians are an “invented people,” although there is some basis for that statement, as prior to the British Mandate there was no such official designation for “Palestine” — and the British clearly included present-day Jordan as a major part of “Palestine” in the mandate. Another Republican candidate offered a history lesson on the Israeli-Palestinian conflict in 2009, [...]

Ben Bernanke should be burned at the stake for his treason. History will be brutal to this utter failure of a central planner.

by Itsalie

“Federal Reserve chief Ben Bernanke says China’s policy of undervaluing the yuan has thrown a monkey wrench into the global economic recovery.”

Did he blame the housing boom on China too? How about when he predicted housing prices would stabilize at a high plateau, just before they went off the cliff? Was that China’s fault also?

Or when he completely failed to regulate the banking industry, allowing [...]