Italy Just Bailed Out Another Failed Bank, May Use Pension Funds For Future Bank Rescues

Italy Just Bailed Out Another Failed Bank, May Use Pension Funds For Future Bank Rescues:

Despite – or perhaps due to – Italy’s failed attempt to slide a state-funded €40 billion recapitalization attempt past Angela Merkel while blaming it on Brexit, and coupled with a bailout proposal to provide €150 billion in liquidity to insolvent banks, overnight we got yet another confirmation that the biggest risk factor for Europe is not Brexit but Italy, where yet another failed bank was bailed out. As the FT reports overnight, Atlante, Italy’s privately backed €5bn bank bailout fund which was created in April to stem the threat of contagion from struggling lenders and whose assets turned out to be woefully inadequate, took control of Veneto Banca after a €1bn capital increase demanded by EU bank regulators attracted zero interest.

Read moreItaly Just Bailed Out Another Failed Bank, May Use Pension Funds For Future Bank Rescues

Donations In June

When you add up all donations in June, subtract the PayPal fees and divide the result by 30 days, then you know that the website has earned in June just a little more than $5 per day (or a little less than €5 per day)!

And without the generous support of some readers the earnings would have been much, much worse.

Personally, I think that the website deserves to earn more than just $5 per day.

What do you think?


Bee

In order to stay up, this site needs your support, …

… especially because it is not generating any income via annoying advertisements.

Please support my work.

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Donations in June: $60, £50, €30, $10 (AUD)

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Read moreDonations In June

EPA Raises Radiation Limit In Drinking Water By 3,000 Times

radiation-radioactive

EPA literally wants you to DIE from radiation: Agency raising the limit of radioactive elements in drinking water by over 3,000 times… to cause widespread cancer and death

We really have reached a point of such insanity across human civilization that governments have become the terrorists who actively seek to harm and kill off the people. The latest example demonstrating this very point is the fact that the EPA just announced its plan to allow gigantic increases in the allowable radioactivity in drinking water… increasing it by over 3,000 times in the case of radioactive Iodine-131… while calling it “safe” to drink even though it’s almost certain to give you cancer.

In this public EPA document, the agency says it was ordered by President Obama’s Executive Order 12656 (section 1601(2)) to “[d]evelop, for national security emergencies, guidance on acceptable emergency levels of nuclear radiation….”

In this report, the EPA warns that a nuclear “incident” may strike the United States, and if people are going to drink the radioactive water, somebody needs to decide how much radioactivity Americans will be allowed to consume.

From the EPA report:

Read moreEPA Raises Radiation Limit In Drinking Water By 3,000 Times

This Is What Loretta Lynch Said When Cornered About Her Clinton Meeting

This Is What Loretta Lynch Said When Cornered About Her Clinton Meeting:

Having been forced to remove herself from the Hillary Clinton email probe, Loretta Lynch admitted that her shockingly ill-advised private meeting with Bill Clinton has “cast a shadow” over the investigations and questions on the meeting are “fair.” Her magnanimity was further expressed “I wouldn’t do it again,” while claiming that she had made the decision to ‘recuse’ herself days before her Bubba meeting.

Highlights – “No Comment” on the system being rigged…

The headlines of what she said:

  • *LYNCH ON BILL CLINTON SAYS QUESTIONS ON CLINTON MEETING FAIR
  • *LYNCH SAYS HER BILL CLINTON MTG RAISED QUESTIONS AND CONCERNS
  • *LYNCH SAYS HILLARY CLINTON E-MAIL INVESTIGATION INDEPENDENT
  • *LYNCH SAYS `FULLY EXPECT’ TO ACCEPT INVESTIGATOR RECOMMENDATION
  • *LYNCH SAYS SHE’LL BE BRIEFED, `WILL BE’ ACCEPTING FINDINGS
  • *LYNCH SAYS DECISION ON HANDLING CLINTON PROBE MADE BEFORE MTG
  • *LYNCH SAYS SHE, BILL CLINTON TALKED GRANDKIDS, TRAVEL ON PLANE
  • *LYNCH SAYS MEETING `CAST A SHADOW’ OVER PROBE OF CLINTON E-MAIL

As we detailed earlier, on Monday evening US Attorney General Loretta Lynch conveniently just happened to meet up with Bill Clinton for a private meeting on her plane on a Phoenix airport tarmac.

Read moreThis Is What Loretta Lynch Said When Cornered About Her Clinton Meeting

Silver Surges 20% In Dollars and 28% In Sterling In June

Silver Surges 20% In Dollars and 28% In Sterling In June:

Silver has surged another 2.7% higher this morning to $19.23/oz. This after yesterday’s 3% surge when silver flew through resistance at the $18 level to close at $18.26/oz. Silver is 20% higher in dollar terms in June. Silver has surged by similar amounts in euros and by 28% in beleaguered sterling in the month.

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Silver Breaches Key Resistance, Soars To 21-Month Highs Against Gold

Silver Breaches Key Resistance, Soars To 21-Month Highs Against Gold:

Silver is up over 11% in the last 6 days (the most since Aug 2013) since Britons decided to leave the sinking ship, pushing the white metal above the key $19.50 level – back to its highest since September 2014. Gold has been in great demand also, heading for its 5th straight weekly gain after its best start to a year since 1980 as one analyst noted “gold will remain one of the major beneficiaries in the current backdrop, as heightened volatility and lingering uncertainty will keep investors’ risk appetite in check.” Silver’s recent surge has seen it play catch up to gold, now back at its ‘richest’ to gold since September 2014.

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Puerto Rico Defaults On $2 Billion In Debt Payments

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Puerto Rico Defaults On $2 Billion In Debt Payments:

As expected, Puerto Rico will default on about $2 billion in debt payments Friday, including $780 million in constitutionally-backed general obligation bonds, as governor Alejandro Garcia Padilla has issued an executive order authorizing the suspension of payments. In addition, Garcia Padilla also declared states of emergency at the island’s biggest public pension – the Commonwealth’s Employee Retirement System – which is more than 99% underfunded, as well as the University of Puerto Rico and other agencies Reuters reports. The default will mark the first time a US territory has failed to pay on its general obligation bonds.

Under these circumstances, these executive orders protect the limited resources available to the agencies listed in these orders and prevents that these can be seized by creditors, leaving Puerto Ricans without basic services,” Garcia Padilla’s administration said in a statement.

Read morePuerto Rico Defaults On $2 Billion In Debt Payments

Police Called to Elementary School After 3rd Grader Makes ‘Racist’ Comment About a Brownie

Police Called to Elementary School After 3rd Grader Makes Racist Comment About a Brownie

Police Called to Elementary School After 3rd Grader Makes ‘Racist’ Comment About a Brownie:

Before this week, 14-year-old Ella Fishbough had never been in trouble at school.

The cheerful, curly-haired eighth-grader’s undoing came when she learned that a male friend was having a bad day. As consolation, Ella put her arms around him in a hug.

“It was literally for a second,” the eighth-grader told Click Orlando. But that moment earned her a morning in detention — as well as a blemish on her formerly spotless disciplinary record.

It is at each principal’s discretion to determine what kind of touching is inappropriate. According to WFTV Orlando, hugging was banned altogether at Jackson Heights this year, in addition to holding hands, linking arms and kissing.

– From last year’s post: Nanny States of America – Parents Arrested for Letting Kids Play on Beach, Girl Given Detention for Hugging Friend

So this really happened. Via Philly.com:

On June 16, police were called to an unlikely scene: an end-of-the-year class party at the William P. Tatem Elementary School in Collingswood.

A third grader had made a comment about the brownies being served to the class. After another student exclaimed that the remark was “racist,” the school called the Collingswood Police Department, according to the mother of the boy who made the comment.

Read morePolice Called to Elementary School After 3rd Grader Makes ‘Racist’ Comment About a Brownie

Recusal? Loretta Lynch ‘Removes’ Herself From FBI Probe Of Hillary Emails

Recusal? Loretta Lynch ‘Removes’ Herself From FBI Probe Of Hillary Emails:

On Monday evening US Attorney General Loretta Lynch conveniently just happened to meet up with Bill Clinton for a private meeting on her plane on a Phoenix airport tarmac.

Despite Lynch promising everyone that the only things that were discussed were Bill’s golf game and grandchildren, conservative watchdog Judicial Watch requested that the DOJ’s Office of the Inspector General investigate the meeting. As The Hill reports, pressure is intensifying on Attorney General Loretta Lynch to hand off oversight of the federal investigation connected to Hillary Clinton’s private email server…

Read moreRecusal? Loretta Lynch ‘Removes’ Herself From FBI Probe Of Hillary Emails

Judicial Watch Demands DOJ Inspector General Probe Into “Scandalous” Lynch-Clinton Meeting

Judicial Watch Demands DOJ Inspector General Probe Into “Scandalous” Lynch-Clinton Meeting:

The political scandal of the day was the news that on Monday evening (coincidentally just before the Benghazi report was released), Bill Clinton and US Attorney General Loretta Lynch just happened to meet on the tarmac at a Phoenix airport – totally unplanned of course. Clinton saw the attorney general and wanted to say hello, so Clinton boarded Lynch’s plane to talk for a bit. Sure, just a quick chat about the weather, his putting stroke, anything except oh, say, an update on what was about to be released on Benghazi, and especially not an update on the ongoing FBI investigation into Hillary.

Our conversation was a great deal about his grandchildren. It was primarily social and about our travels. He mentioned the golf he played in Phoenix, and he mentioned travels he’d had in West Virginia. There was no discussion of any matter pending for the department or any matter pending for any other body. There was no discussion of Benghazi, no discussion of the State Department emails, by way of example” Lynch told reporters.

While Lynch claims it was a completely random encounter with Hillary Clinton’s husband, even Barack Obama’s former advisor David Axelrod admitted that the meeting created “bad optics”

Sensing an opportunity to drive home a point about the Clintons’ lack of judgment, Trump quickly pounced on the meeting.

Read moreJudicial Watch Demands DOJ Inspector General Probe Into “Scandalous” Lynch-Clinton Meeting