By the SRSrocco Report,
According to newly uncovered information in the gold market, it provides additional evidence of why the Fed, Central Banks and the IMF were forced to RIG the gold market. Not only was the dropping of the Gold-Dollar peg going to release a great deal of pressure on the manipulated gold price, but forecasts of a massive increase in gold demand was going to totally overwhelm supply.
Submitted by Raul Ilargi Meijer via The Automatic Earth blog,
Earlier this week I was talking in Athens to a guy from Holland, who incidentally with a group of friends runs a great project on Lesbos taking care of some 1000 refugees in one of the camps there. But that’s another topic for another day. I was wondering in our conversation how it is possible that, as we both painfully acknowledged, people in Holland and Germany don’t know what has really happened in the Greek debt crisis. Or, rather, don’t know how it started.
Submitted by Mike Shedlock via MishTalk.com,
The game playing in Greece gets curiouser and curiouser.
German finance minister Wolfgang Schäuble went on TV saying the only way Greece can get a haircut is if it leaves the Eurozone.
The IMF reiterated that Greece will not be able to make its payments.
Greece insists the IMF is wrong, yet it wants credit relief.
Amid a more prolonged economic doldrums than The Great Depression, Greece is heading towards its 4th bailout/deal with creditors. Adding to Grexit fears (voiced by many in and out of Greece), Ted Malloch, President Trump's proposed US ambassador to the EU, casts doubt on survival of eurozone and says Athens should return to drachma.
With the IMF and Germany again at each other's throats over the neverending drama that is Greece, German Finance Minister Wolfgang Schaeuble repeated the same line he has used since the third Greek bailout from the summer of 2015, and in response to the IMF's demands for a reduction in Greek debt and fiscal surplus, the German ruled out a debt cut for Athens "as a violation of European rules", adding that "the country would have to leave the euro area to do so."