Where does greek bailout money go,survival essentials seeds review program,make your own greenhouse heater solar,medical supply company fredericksburg va - And More

25.12.2013
We also haven't figured out about the 90 billion of derivative exposures Greece has and whether any bailout money is being used to pay on those. Select your preferred way to display the comments and click "Save settings" to activate your changes. So, the bailout is going to corporations that have the right to shit money for free, and then lend that?
4:1 ratio of the money being used productively and the rest to pay interest on debt with more borrowed money. The Europeans can use all the acronyms and financial wizardry they care to, and hide the sausage in Tokyo for a while, but it is all still just money printing in the end. I guess I'm wrong; I really thought the Greek bailout money was going into the DOW every business day within the last hour of close or so.
And the 7th largest economy in the world, the State of California is running a 15 billion dollar deficit.
Given the recent sharp decline in the market, the overwhelming question from clients is whether this is the beginning of a new bear market similar to 2000-2002 or 2007-2009.
If I am correct and this is not yet the beginning of a new bear market, then we are likely to see a recovery rally (which is underway as I write this) with further volatility heading into year-end. According to a wide range of leading economic data, near-term risks of a major slowdown or recession in the U.S. In response to the current economic slowdown, countries around the globe have cut interest rates at a swift and dramatic pace.
Another indicator I often cite that is widely followed by many macro-oriented strategists and research firms is the relative performance of early cyclicals (i.e.
When it comes to China, we could be dealing with a similar situation to the 1998 Russian Ruble crisis.
Back then Russia was a very small portion of global growth BUT its currency collapsed by 70% and brought down many global players who were leveraged like LTCM. China, however, is the second largest economy in the world so it doesn’t need to see a 70% currency collapse to create a global financial shock.
Since last year, China has been using its massive foreign currency reserves to defend its peg with a strengthening U.S.
In order to prevent their reserves from plummeting too far they decided to stop defending the currency to offset global capital fleeing China and let their currency fall. This is following the script of the Russian 1998 crisis in which Russian foreign currency reserves peaked in 1997 and fell 56% into 1999 before the currency collapse stimulated exports and brought their trade and financial accounts into equilibrium. Unlike Russia, I do not believe that the Chinese currency needs to see a massive devaluation in order to arrest its balance of payments crisis (Reference 1, Reference 2) and could have a much smaller devaluation on the order of 10-20% on a longer timeframe, as Zulauf predicts.
Like Russia's tie to oil, China is very sensitive to global economic activity and its foreign currency reserves (white line) closely track JP Morgan’s global manufacturing PMI (yellow line).
However, if I am wrong and global growth does not pick up, China may indeed see a larger devaluation over the near-term and we could be in for a more protracted corrective period.
If this outlook holds true, I believe we should see a bit more volatility in the months ahead before a final blow-off top later in 2016 or, perhaps at the latest, 2017.
For further background on China, their recent currency devaluation, and the possible implications this will have on the market, I highly encourage those who have not done so already to listen through some of the recent China-focused broadcasts we’ve conducted starting with the very timely 48-minute interview last week with Felix Zulauf. The opinions of the contributors to Financial Sense® do not necessarily reflect those of Financial Sense, its staff, or its parent company, PFS Group. Political change within days in Greece may mean the country has to ultimately leave the euro.
Director of marketing for De La Rue, Rob Hutchison, will not comment on speculation that the company has drawn up a contingency plan for the production of new drachma, but he explains that the money-printing process itself can take several months. These notes could be used to finance transactions even if another currency became the local tender, says Michael Massourakis, director of economic research for Alpha Bank, Greece."You can't stop people using that money to buy things, even if you make it illegal to use foreign exchange in transactions. Nicola Adams and Liam Heath win gold for Team GB on the penultimate day of the Rio Olympics, but there is disappointment for Tom Daley. Hedge fund manager Marc Mezvinsky had friends in high places when he bet big on a Greek economic recovery, but even the keen interest of his mother-in-law, then-Secretary of State Hillary Clinton, wasn't enough to spare him and his investors from financial tragedy.
In 2012, Mezvinski, the husband of Chelsea Clinton, created a $325 million basket of offshore funds under the Eaglevale Partners banner through a special arrangement with investment bank Goldman Sachs.


That America’s top diplomat kept a sharp eye on intelligence assessing the chances of a bailout of the Greek central bank is not a problem. A former Goldman Sachs broker himself, Mezvinsky formed Eaglevale Management with two ex-Goldman Sachs partners in October 2011. The same month that Eaglevale incorporated its offshore arm, Gary Gensler, the head of the United States Commodity Futures Trading Commission, which polices hedge funds, emailed Clinton that a bailout by the European Central Bank could “turn market sentiment” in favor of Greek bonds. Gensler had previously worked as co-head of finance at Goldman Sachs; he is now the financial director of Clinton’s election campaign. Clinton’s deputy in charge of economic policy was Robert Hormats, a former vice chairman of Goldman Sachs. Again, monitoring Greece was part of Clinton’s job description, but, ethically, that does not mean that a family member should make bets that depend upon the actions of another family member—leaving aside the question of whether “insider” information was divulged to Mezvinsky by Blumenthal or his parents-in-law. During 2011, Secretary of State Clinton lobbied the leaders of European governments to bail out the Greek financial system. Driven by investor’s belief that Greece would be bailed out, the speculative value of its debt climbed into the stratosphere in late 2011 and early 2012.
At a February 2012 summit meeting about the Eurozone debt crisis in Munich, Clinton urged leaders of the European Union to commit to a Greek bailout. In May, Blumenthal, emailed two “confidential” memos about the Greek debt situation to Clinton. The first memo, Blumenthal told Clinton, is “based on conversations with German Finance Minister Wolfgang Schauble and those close to him … the information comes from an extremely sensitive source and should be handled with care.
The unnamed spy reported that in secret meetings with German Chancellor Angela Merkel, Schauble had searched for a politically acceptable way to bail out the Greek debt in order to avoid collapsing the economies of Greece, Italy, Spain and Ireland. The second memo was classified and blacked out by State Department censors when Clinton’s emails were released. In June, Clinton’s deputy, Jake Sullivan emailed her “a depressing snapshot” of reports that Greek banks were failing and that Merkel was against a Greek bailout. Siklas and Goldman Sachs were invested in a deep sea mining venture called Neptune Minerals. To the extent Greek pension funds for example, hold longer dated maturities, less of the money is really going to them, but for now have assumed that each group holds a similarly balanced portfolio. If you loan money to a deadbeat and, as expected, the deadbeat can't or won't pay, you don't get to force others to pay back the deadbeat's debt. Though I don’t think we are quite there yet, here is the big picture outlook as I see it with possible risks laid out further below.
A possible scenario could be something similar to what we experienced in 2011 (see below - keep in mind, past performance does not guarantee future results).
In the case of Russia, foreign exchange reserves fell along with oil prices given their oil export dependency, then improved after oil prices rose (in yellow) and their currency declined. If global economic activity picks up as I expect in the coming months we are likely to see Chinese reserves begin to build and its balance of payments crisis to subside.
This could be a tricky and volatile market just as it was in 1998 and in 2011 but I believe, ultimately, when the current rout ends we will see new highs in the stock market later in the year or at the latest in early 2016.
Felix not only warned Financial Sense listeners of a sudden and rapid decline in the market due to China's RMB devaluation but also provided a great big picture forecast of possible events in the months and years ahead when it comes to commodities, U.S. This would mean that people would only be able to withdraw a certain amount of money from their accounts, which would be necessary to keep things orderly and avoid a run on the banks. It simply couldn't be done overnight," explains Hutchison.Economist and author of Greece's Odious Debt, Jason Manoloupoulos, agrees.
The euro could still be used afterwards on the black market, for example."But just how "new" would a new Greek currency be? The funds have lost tens of millions of dollars predicting that bailouts of the Greek banking system would pump up the value of the country’s distressed bonds.
But newly released emails from 2012 show that she and Clinton Foundation consultant, Sidney Blumenthal, shared classified information about how German leadership viewed the prospects for a Greek bailout. However, sharing such sensitive information with friends and family would have been highly improper. As a “global macro” firm, Eaglevale’s strategy is to seek profit opportunities in politically volatile situations.


Goldman Sachs has donated up to $5 million to the Clinton Foundation and $860,000 to Hillary Clinton’s political campaigns. Hormats and Clinton shared an extensive email trail about the possibility of bailing out Greece, including classified materials, and internal state department memos about the debt from the U.S. She advocated imposing austerity measures on Greece—raising taxes, cutting public employee salaries and eliminating social welfare programs—to make the investors holding the debt happy. The bonds gradually sank to 2008 levels by the end of the year, with temporary spikes, as investors alternately gained and loss confidence in the prospect of a bailout. In August 2012, she forwarded Deputy Secretary Thomas Nides an email from Mezvinsky lobbying on behalf of his former Goldman Sachs colleague, Harry Siklas. Siklas asked Mezvinsky to broker a talk with Clinton about “current legal issues and regulations” on deep sea mining. In fact, anyone that loans money to any government (regardless of solvency) deserves to lose every penny.
In this case, it took several months for the S&P 500 (2015 in black, 2011 in red) to stabilize and digest new information before ultimately heading higher.
Also, market strategists and China watchers recognize that Chinese officials have yet to exhaust their full arsenal of policy tools should uncertainty arise.
Fed and Bank of England are now easing, which means global monetary policy has become highly stimulative.
Global central banks are already in a coordinated easing mode and, in light of the current weakness, may respond even more forcefully to push the bull market higher for one last leg.
Parents who use physical punishment as a disciplinary method will be considered as abusing their parental authority, which may result in removal of parental authority by the courts. On Sunday, Greek voters could hand power to anti-austerity parties who want to scrap the bailout, the deal that qualifies Greece for vital eurozone funds.This would bring the country a step closer to a possible exit from the euro. Reports on Greece's financial future concentrate on the idea of the drachma - the currency which was replaced by the euro in 2001. Clinton also shared “protected” State Department information about Greek bonds with her husband at the same time that her son-in-law aimed his hedge fund at Greece. Federal regulations prohibit the use of nonpublic information to further private interests or the interests of others. Mezvinsky set up several funds in the Cayman Islands, a secretive tax haven, with Goldman Sachs serving as Eaglevale’s prime broker and banker. In other words, there were multiple opportunities for Greek-bond hedge funds to buy cheap and sell dear. Goldman Sach’s CEO, Lloyd Blankfein, jumped in with his own money, as did Chelsea Clinton’s former boss, Marc Lasry, who specializes in buying distressed debt. However, it is the last point—a pickup in global growth—that probably seems the most unlikely to investors currently. With such a dramatic and coordinated effort, there is good reason to expect this will provide a tailwind for global markets and help arrest deflationary pressures. So how could a new currency like the drachma be (re)introduced?A new government would have to produce enough new notes to replace those currently in use in Greece while also doing their best to prevent a run on the banks. The peso dropped in value, leading to high inflation, after Argentina defaulted on its public debt in 2002. There is a lot to do, says Julie Girard, currency spokesperson for the Bank of Canada, which has been involved in that country's recent transition from paper to polymer notes.The many considerations in currency production range from the selection of the best base material and security features to the design on the notes. The giant brokerage firm has a checkered history of manipulating the value of Greek debt to the detriment of Greece.
So while everybody watches Greece just remember this is the same thing that will happen in California and the rest of America for that matter.
It would have to be introduced over a public holiday and there would be an interim phase between currencies.



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