Greece ‘Scrambles’ To Make Full Monthly Pension Payments: ‘Still Missing Several Hundred Million Euros’

parthenon

Greece “Scrambles”To Make Full Monthly Pension Payments: “Still Missing Several Hundred Million Euros” (ZeroHedge, April 30, 2015):

To be sure, Greece has been “running out of money” for quite some time. Given the incessant media coverage surrounding the country’s cash shortage and the fact that Athens somehow seems to scrape together the funds to make payments both to lenders and to public sector employees against impossible odds, it’s tempting to think that as dire as the situation most certainly is, the country might still be able to ride out the storm without suffering a major “accident.” Having said that, some rather alarming events have unfolded over the past week or so, including a government decree mandating the transfer of excess cash reserves from municipalities to the central bank. As it turns out, that didn’t go over well with local officials and as we reported on Tuesday, the government finally hit the brick wall, coming up some €400 million short on payments to pensioners.

Here’s what we said then:

According to Bloomberg, the Greek government is €400 million short of the amount needed for payment of pensions and salaries this month, citing a Kathimerini report.

Surprisingly, this takes place even as Greece’s IKA, OGA pension funds have been informed by the government that amount needed for payment of pensions will be deposited today, while the Greece’s OAEE pension fund has said payment of pensions won’t be a problem.

In other words, someone is not telling the truth: either there is enough money or there isn’t. And if the latter case is valid, then either the government or the pensions are now openly lying to the population.

Fast forward to Thursday and we learn that sure enough, the government ran out of money earlier this week. Here’s FT:

Read moreGreece ‘Scrambles’ To Make Full Monthly Pension Payments: ‘Still Missing Several Hundred Million Euros’

Texas Governor Calls Up State Guard To Counter Jade Helm “Federal Invasion” Fears

JadeHelmMap

Texas Governor Calls Up State Guard To Counter Jade Helm “Federal Invasion” Fears (ZeroHedge, April 30, 2015):

We’ve mentioned the upcoming Jade Helm military exercises on a few occasions lately (here and here). In short, Jade Helm is an eight-week joint military and Interagency Unconventional Warfare exercise conducted throughout Texas, New Mexico, Arizona, California, Nevada, Utah and Colorado. Here’s the official press release:

FORT BRAGG, N.C. (USASOC News Service, March 24, 2015) – Members of U.S. Army Special Operations Command will train with other U.S Armed Forces units July 15 through Sept. 15 in a multi-state exercise called Jade Helm 15.

USASOC periodically conducts training exercises such as these to practice core special warfare tasks, which help protect the nation against foreign enemies. It is imperative that Special Operations Soldiers receive the best training, equipment and resources possible.

While multi-state training exercises such as these are not unique to the military, the size and scope of Jade Helm sets this one apart. To stay ahead of the environmental challenges faced overseas, Jade Helm will take place across seven states. However, Army Special Operations Forces (ARSOF) will only train in five states: Texas, Arizona, New Mexico, Utah and Colorado. The diverse terrain in these states replicates areas Special Operations Soldiers regularly find themselves operating in overseas. 

Read moreTexas Governor Calls Up State Guard To Counter Jade Helm “Federal Invasion” Fears

Nuclear whistleblowing: Man who revealed Israel’s nuclear secrets detained in Jerusalem for talking to foreigners

Nuclear whistleblowingMan who revealed Israel’s nuclear secrets detained in Jerusalem for talking to foreigners (Homeland Security Newswire, April 30, 2015):

Nearly thirty years ago, in the fall of 1986, MordechaiVanunu, a low-level technician at Israel’s Dimona nuclear reactor, left Israel for a trip to the Far East. He settled in Australia, converted to Christianity, and sometime in August that year began to talk with Peter Hounam, a London Sunday Times reporter, about what he saw at Dimona. He spent eighteen years in jail, eleven of these years in solitary confinement, and was released, under severe restrictions, in 2004. Last Thursday he was detained in Jerusalem for violating one of his release conditions: he talked with two foreigners, that is, non-Israelis, for more than half-an-hour.

Nearly thirty years ago, in the fall of 1986, MordechaiVanunu, a low-level technician at Israel’s Dimona nuclear reactor, left Israel for a trip to the Far East. He settled in Australia, converted to Christianity, and sometime in August that year began to talk with Peter Hounam, a London Sunday Times reporter, about what he saw at Dimona.

The Sunday Times flew him to Lindon for more in-depth interviews, in which Vanunu described how Israel has mastered lithium-6 separation process, which is required for the production of tritium. Tritium is an essential ingredient of fusion-boosted fission bombs.

Read moreNuclear whistleblowing: Man who revealed Israel’s nuclear secrets detained in Jerusalem for talking to foreigners

Billionaire Hypocrisy: George Soros May Owe $7 Billion In Taxes

George Soros As The Fighting Uruk-hai With Jacob Rothschild As Saruman

Billionaire Hypocrisy: George Soros May Owe $7 Billion In Taxes (ZeroHedge, April 30, 2015):

“You support President Obama’s proposal to increase taxes on the wealthy?” That was the question put to George Soros on CNN some three years ago. Here was his answer:

“Yes, very much… the super bubble really resulted in creating a great increase in inequality, and now we have the after effect where you have slow growth, but if you could have better distribution of income, then the average American would actually be better off.”

There’s no question that “everyday Americans” (as a reminder, those are the people Hillary Clinton wants to help by running for president… well, those people and perhaps a few foreign governments and any investment bank who is willing to pay her husband six figures for a speech) would be better off if they got a larger piece of the pie, but as we’ve seen over the past several months, that’s not likely to happen as wage growth declines for the 80% of American workers classified by the BLS as “non-supervisory” even as the country’s supervisors see their pay increase, and as Fed policy continues to inflate the assets most likely to be concentrated in the hands of the wealthy. As this sad reality continues to play itself out destroying the American Middle Class in the process, we wondered if Soros was doing his best to ameliorate the situation by redistributing more of his vast wealth to the very same “average Americans” about which he expressed so much concern in 2012. The short answer: no.

Via Bloomberg:

Read moreBillionaire Hypocrisy: George Soros May Owe $7 Billion In Taxes

Over 50,000 families shipped out of London in the past three years due to welfare cuts and soaring rents

Related article:

Homelessness In London Soars By 79% Since 2010


Over 50,000 families shipped out of London in the past three years due to welfare cuts and soaring rents

Over 50,000 families shipped out of London in the past three years due to welfare cuts and soaring rents (Independent, April 29, 2015):

Exclusive: Councils are currently moving homeless mothers and children out of their boroughs at a rate of close to 500 families a week

More than 50,000 families have been silently shipped out of London boroughs in the past three years, an investigation by The Independent can reveal.

Leaked documents obtained by this newspaper expose the true scale of the “social cleansing” taking place across the capital as a result of welfare cuts and soaring rents. The figures show an unprecedented number of families who cannot afford to find homes in their local area being uprooted from their neighbourhoods and dumped further and further away from the capital, cut off from their relatives and support networks.

Read moreOver 50,000 families shipped out of London in the past three years due to welfare cuts and soaring rents

And Guess Who Predicted The Failure Of QE: Yellen … AND Bernanke!

Guess Who Predicted The Failure Of QE (ZeroHedge, April 30, 2015):

Janet Yellen:

As Japan found during its quantitative easing program, increasing the size of the monetary base above levels needed to provide ample liquidity to the banking system had no discernible economic effects aside from those associated with communicating the Bank of Japan’s commitment to the zero interest rate policy.

I think my views on this mirror those that you expressed in your opening comments, Mr. Chairman.”

– FOMC Minutes from Dec 2008

yellen-qe

How did that work out?

Read moreAnd Guess Who Predicted The Failure Of QE: Yellen … AND Bernanke!

The Swiss National Bank Is Long $100 Billion In Stocks, Reports Record Loss

SNB-Schweizerische-Nationalbank

The Swiss National Bank Is Long $100 Billion In Stocks, Reports Record Loss (ZeroHedge, April 30, 2015):

When the Swiss National Bank revealed its long awaited Q1 financials earlier today, everyone was eagerly looking at the number showing just how massive the quarterly P&L loss would be to the central bank following its shocking decision from January 15 to remove its EURCHF 1.20 floor, which sent the CHF soaring and by implication caused huge losses to the mostly EUR-denominated SNB assets.

The loss was indeed, massive, coming in at CHF 29.3 billion, or $32 billion.

This was the biggest quarterly loss for the Swiss central bank to date, dwarfing that of CHF18.5 billion incurred in the second quarter of 2013, when the price of gold plummeted, and certainly one of the biggest central bank losses in history, if of course, the others tracked their P&L the way the SNB does.

Read moreThe Swiss National Bank Is Long $100 Billion In Stocks, Reports Record Loss

European Unemployment By Country: Youth Unemployment In Greece, Spain Remains Over 50%

–  European Unemployment By Country: Youth Unemployment In Greece, Spain Remains Over 50% (ZeroHedge, April 30, 2015):

But the scariest data, once again, is revealed in the table of European youth unemployment. Here we see that both Spain and Greece now share the same youth unemployment figure of 50.1%, while Italy has reversed its recent improving trend, and is now at 43.1% and rising.

youth unemployment_0

For anyone asking why Europe’s politicians are terrified at the anti “austerity” wave that is just over the horizon, the table above should have all the answers.

Dollar Suffers Worst Month In 4 Years – Ends Record Streak Of Gains

Dollar Suffers Worst Month In 4 Years – Ends Record Streak Of Gains (ZeroHedge, April 30, 2015):

After an unprecedented 9 months in a row of gains, for a greater-than-27% gain, The US Dollar slumped in April. Down 3.5%, this is the biggest monthly drop for the greenback since April 2011 (near the end of QE2).

20150430_dollar1

As we noted yesterday, this could be a major problem as a USD-reversal is likely to drive the great unwind of consensus positioning…

Read moreDollar Suffers Worst Month In 4 Years – Ends Record Streak Of Gains