So far, in Greece, the hardest hit have been pensioners.
As Bloomberg reports, “On the third day of capital controls, a few dozen pensioners lined up by 7 a.m. at a central Athens branch of the National Bank of Greece, an hour before opening time. They were to receive a maximum of 120 euros ($133), compared with the average monthly payment of about 600 euros. Many left with nothing after the manager said only those with last names starting with the letters A through K would get paid.”
Another customer, a retired mariner who asked not to be named, told AFP he had no cash to buy crucial medicine for his sick wife.
“I worked for 50 years on the sea and now I am the beggar for 120 euros,” he said. Read more ›
Julia Tourianski, of Brave The World, runs her own jewelry line (SCREW YOURSELF), and even paints. The response for her most popular works, according to her, has been divided and confused. Those mostly appear on Brave The World. Her use of the Internet to build her own brand is something from which many can learn.
Since September 11, 2001, the frightened and emotionally pliable American public has gullibly relinquished its civil liberties and free heritage in order to allow the U.S. government to wage unaccountable and unconstitutional war again Al-Qaeda and radical Islamic terrorism across the world.
Many of us have warned for years, that preemptively giving up freedoms to protect freedom could only make sense to a propagandized, ignorant public completely clueless of human history. We warned that any totalitarian apparatus implemented to fight an outside enemy, would ultimately be turned around and used upon the public domestically. We already know this is happening with the NSA’s bulk spying and data collection, and we are starting to see a proliferation of the meme that “domestic extremists are more dangerous than Al-Qaeda,” spreading from the mouths of a corrupt and paranoid political class. I’ve covered this topic on several occasions, for example…
The current system is destined to failure. Time is running out. The only assets to thrive in the coming climax will be precious metals, property containing commodity resources, and certain commercial property, surely farmlands, maybe some collectibles. The year 2015 will not end with any basic resemblance to the beginning of 2015. The USDollar is on a collision course with imminent death.
According to polls, the majority of Greek citizens want the benefits of membership in the euro/EU and the end of EU-imposed austerity. The idea that these are mutually exclusive doesn’t seem to register.
This is the discreet charm of magical thinking: it promises an escape from the difficulties of hard choices, tough trade-offs, the disruption of vested interests and most painfully, the breakdown of the debt machine that has enabled the distribution of swag to virtually everyone in the system (a torrent to those at the top, a trickle to the majority at the bottom, but swag nonetheless).
- Puerto Rico Governor says island cannot pay its $72 billion debt - Puerto Rico debt 15 times per capita median debt of the 50 U.S. states - Complicated arrangements misled bond investors to believe their funds were secure - Share price of bond insurer exposed to Puerto Rican debt plummeting, possibly on inside information
With all eyes on Greece it would seem another crisis relating to unpayable debt is brewing in the Caribbean. The governor of Puerto Rico, Alejandro García Padilla, has warned that the island is unable to pay its debts of $72 billion. Read more ›
We discuss the idea of “nothing to fear but fear itself” as Greece puts an end to sovereign asset forfeiture as capital controls and bank holidays are declared after its government called a referendum. In the second half, Max interviews American defense attorney Craig Brand about civil asset forfeiture.