Well, it definitely appears that Greece is in "default" as I and others have long predicted... NO nation on Earth should ever be enslaved to Jewish criminal Usury debt, and the Greeks should definitely stand their ground and refuse to ever pay back the criminal "odious" debt owed to these scoundrels and criminals... The proper course of action for the Greeks should be to declare ALL of their debts owed to these criminals to be "null and void" and force a reset to ZERO for all of their debts owing by the stroke of a pen... Then they should take the Icelandic approach and arrest ALL of the criminal Jewish bankers involved in the scam immediately....After that, they should leave the European Union and NATO and seek full economic partnership with the BRICS nations, especially with Russia..... It may hurt the Greek people initially while they readjust to the loss of the "Euro" and the re-introduction of the Greek Drachma, but it is so much better than having themselves permanently enslaved to these criminal bankers....But the crisis in Greece goes beyond Greece itself... It appears that there are other nations teetering on the brink of full economic collapse, and of course the Jew spew media is absolutely avoiding any reports of that impending disaster to create the illusion that 'All is well" in terms of their ponzi scheme world wide economic system... But the reality is the system is indeed broken, and people everywhere must be prepared for the aftermath of a full world wide economic collapse....To help understand how bad the economic situation is across our planet, I want to turn to the following report that I came across yesterday, from the Investment Watch Blog website, at www.investmentwatchblog.com, that gives a good summary of the mess we are in... The article is entitled: "16 Facts About The Tremendous Financial Devastation That We Are Seeing All Over The World" and I have it right here for all of my own readers to view for themselves... I have my usual thoughts and comments to follow:16 Facts About The Tremendous Financial Devastation That We Are Seeing All Over The Worldby IWB · June 29, 2015 By Michael Snyder image: http://theeconomiccollapseblog.com/wp-content/uploads/2015/06/Fireball-Devastation-Public-Domain-460x305.jpg As we enter the second half of 2015, financial panic has gripped most of the globe. Stock prices are crashing in China, in Europe and in the United States. Greece is on the verge of a historic default, and now Puerto Rico and Ukraine are both threatening to default on their debts if they do not receive concessions from their creditors. Not since the financial crisis of 2008 has so much financial chaos been unleashed all at once. Could it be possible that the great financial crisis of 2015 has begun? The following are 16 facts about the tremendous financial devastation that is happening all over the world right now… 1. On Monday, the Dow fell by 350 points. That was the biggest one day decline that we have seen in two years. 2. In Europe, stocks got absolutely smashed. Germany’s DAX index dropped 3.6 percent, and France’s CAC 40 was down 3.7 percent. 3. After Greece, Italy is considered to be the most financially troubled nation in the eurozone, and on Monday Italian stocks were down more than 5 percent. 4. Greek stocks were down an astounding 18 percent on Monday. 5. As the week began, we witnessed the largest one day increase in European bond spreads that we have seen in seven years. 6. Chinese stocks have already met the official definition of being in a “bear market” – the Shanghai Composite is already down more than 20 percent from the high earlier this year. 7. Overall, this Chinese stock market crash is the worst that we have witnessed in 19 years. 8. On Monday, Standard & Poor’s slashed Greece’s credit rating once again and publicly stated that it believes that Greece now has a 50 percent chance of leaving the euro. 9. On Tuesday, Greece is scheduled to make a 1.6 billion euro loan repayment. One Greek official has already stated that this is not going to happen. 10. Greek banks have been totally shut down, and a daily cash withdrawal limit of60 euros has been established. Nobody knows when this limit will be lifted. 11. Yields on 10 year Greek government bonds have shot past 15 percent. 12. U.S. investors are far more exposed to Greece than most people realize. The New York Times explains…
But the question of what happens when the markets do open is particularly acute for the hedge fund investors — including luminaries like David Einhorn and John Paulson — who have collectively poured more than 10 billion euros, or $11 billion, into Greek government bonds, bank stocks and a slew of other investments.
Through the weekend, Nicholas L. Papapolitis, a corporate lawyer here, was working round the clock comforting and cajoling his frantic hedge fund clients.
“People are freaking out,” said Mr. Papapolitis, 32, his eyes red and his voice hoarse. “They have made some really big bets on Greece.”
13. The Governor of Puerto Rico has announced that the debts that the small island has accumulated are “not payable“. 14. Overall, the government of Puerto Rico owes approximately 72 billion dollars to the rest of the world. Without debt restructuring, it is inevitable that Puerto Rico will default. In fact, CNN says that it could happen by the end of this summer. 15. Ukraine has just announced that it may “suspend debt payments” if their creditors do not agree to take a 40 percent “haircut”. 16. This week the Bank for International Settlements has just come out with a new report that says that central banks around the world are “defenseless” to stop the next major global financial crisis. Without a doubt, we are overdue for another major financial crisis. All over the planet, stocks are massively overvalued, and financial markets have become completely disconnected from economic reality. And when the next crash happens, many believe that it will be even worse than what we experienced back in 2008. For example, just consider the words of Jim Rogers…
“In the United States, we have had economic slowdowns every four to seven years since the beginning of the Republic. It’s now been six or seven years since our last stock market problem. We’re overdue for another problem.”
In Rogers’ view, low interest rates caused stock prices to increase significantly. He believes many assets are priced beyond their fundamentals thanks to the ultra-easy monetary policies by the Federal Reserve. Fed supporters argue such measures are good for investors, but Rogers takes a different view.
“The Fed might tell us we don’t have to worry and that a correction or crash will never happen again. That’s balderdash! When this artificial sea of liquidity ends, we’re going to pay a terrible price. When the next economic problem occurs, it will be much worse because the debt is so much higher.”
Of course Rogers is far from alone. A recent article by Paul B. Farrell expressed similar sentiments…
America’s 95 million investors are at huge risk. Remember the $10 trillion losses in the crash and recession of 2007-2009? The $8 trillion lost after the dot-com technology crash and recession of 2000-2003? This is the third big recession of the century. Yes, America will lose trillions again.
Especially with dead-ahead predictions like Mark Cook’s 4,000-point Dow correction. And Jeremy Grantham’s warning of a 50% crash around election time, with negative stock returns through the first term of the next president, beyond 2020. Starting soon.
Why is America so vulnerable when the next recession hits? Simple: The Fed’s cheap-money giveaway is killing America. When the downturn, correction, crash hits, it will compare to the 2008 crash. The Economist warns: “the world will be in a rotten position to do much about it. Rarely have so many large economies been so ill-equipped to manage a recession,” whatever the trigger.
Things have been relatively quiet in the financial world for so long that many have been sucked into a false sense of security. But the underlying imbalances were always there, and they have been getting worse over time. I believe that we are heading into a global financial collapse that will make what happened in 2008 look like a Sunday picnic by the time it is all said and done. Global debt levels are at all-time highs, big banks all over the planet have been behaving more recklessly than ever, and financial markets are absolutely primed for a huge crash. Hopefully things will calm down a bit as the rest of this week unfolds, but I wouldn’t count on it. We have entered uncharted territory, and what comes next is going to shock the world.NTS Notes: I am absolutely not surprised at all by what I am witnessing happen all over the world at this time.... The fact is always the same that throughout history, ALL nations that have used the Jewish fraud Usury debt system for their financial systems have all collapsed.... What is happening is history repeating itself only this time on a world wide scale....One major problem that is not discussed here is of course the "800 lb gorilla" that is sitting in the closet and ready to pounce and cause the entire fraud world wide economic system to collapse... That is of course the "Derivatives" market that right now is sitting at some $2 QUADRILLION dollars in value and if fully "exposed" could bring the entire house of cards crashing down....What has been interesting for me is the total lack of any reports here in Canada from the Jew spew media about how bad this crisis truly is... It does seem that the Jewish criminals in control of our media outlets and our own governments do not want their slaves to see how bad the problem truly is and are purposely keeping everyone in the dark until the bottom does indeed fall out..... The solution to this crisis is actually very simple, and every nation can do it immediately... Just simply cancel all debts and take back control of every nation's finances away from these Jewish criminal bankers... Every nation can issue its currency debt and interest free and therefore never have to accumulate "odious" debt.....The people of Iceland have done exactly that by refusing to pay off their debt and have arrested the Jewish bankers involved. Maybe it is time for the rest of the world to look at Iceland and do exactly the same thing..More to comeNTS