BREAKING: Greek Banks To Raid Deposits

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What is happening in Greece is a hybrid of the hyperinflation of the Weimar Republic in 1924 (which was a prelude to Hitler) and the economy of the United States which preceded the Great Depression.  The relative calm here in the United States does not begin to demonstrate how dire the situation is in Greece. The world is changing.

For Greece, this new wrinkle has been telegraphed for weeks with Europe, Germany in particular, not willing to be held for ransom. The game of chicken that Greece has been playing has not turned out as they’d hoped. The bluff has been called and their is no more cards to play.

The wealthy and foreign depositors have been draining their assets out of Greece for the last two years and what remains is the real capital of what is left of the working and middle class.

As written about in the NY Times earlier today, the foundation of their economy (17%), tourism, is all but dead.  The Times put a happy face on a corpse because the repercussions of the bank’s coming raid of deposits will stall the rest of the economy and the rest of the world will not be able to absorb their losses.

Greek deposits are guaranteed up to €100,000, in line with EU banking directives, but the country’s deposit insurance fund amounts to only €3bn, which would not be enough to cover demand in case of a bank collapse. – FinancialTimes.com

This does not bode well for the United States because the Obama Administration has been playing with the numbers to make the average citizen believe that the economy is growing. It has not. Our unemployment has, in hard numbers, not budged since 2010 and the labor participation rate tells a tragic tale that too many people are willing to put off the job search while federal and state entitlements are easy to obtain.

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Stay tuned, this is a prelude to significant changes in Europe and Asia, and we will be caught with no emergency fund and the proverbial refrigerator is broken.

Tsipras asks for 30% debt haircut, 20yr grace period

The only way to make Greek debt sustainable is to cut it by 30 percent and introduce a 20-year grace period, said PM Tsipras, as the landmark referendum on July 5 nears.

Debt crisis: Will Greece exit euro? LIVE UPDATES

Tsipras’ statement comes after the IMF said Thursday that Greece would need €10 billion over the next few months and an additional €50 billion in the next three years to pay the country’s arrears. Before making any repayments, Greece would need a 20-year grace period, making the last payment no earlier than 2055, the Fund said.

READ MORE: IMF says Greece needs third bailout of €60bn, debt relief

This gives a clear view that the parties have grounds to resume negotiations on the Greek bailout cut short by the referendum.

The report published Thursday was never shown to Greece in the five months of fruitless talks on the bailout, only after the negotiations had finally failed, said Tsipras.

Tsipras has also asked fellow Greeks to vote against austerity one more time.

“I urge you to say #OXI/NO to ultimatums, blackmail & fear. To say NO to being divided,” he posted on Twitter.

The question of leaving the eurozone will not be brought up on Sunday, according to Tsipras. The question is whether Greece is ready to continue the policy that is killing the country’s economy and cutting pensions, he added.

READ MORE: Enough austerity? Greece after 5 years of belt tightening

On July 5 the Greek people will have to decide whether to accept or reject the proposals submitted by the European Commission, the European Central Bank and the International Monetary Fund at a meeting of the Eurogroup of 25 June 2015.

On Wednesday, Greece defaulted on a €1.6 billion debt payment to the IMF that was due in June. Athens will have to make another major payment of €3.5 billion to the ECB on July, 20.

France Expelled 40 Radical Muslim Preachers Over Three-Year Crackdown

BY ERICA WENIG

France has deported 40 foreign imams over the past three years, the government announced just days after a deadly terror attack at an American-owned factory near Lyon.

Ten of the clerics were expelled after the Charlie Hebdo attack in January, Christian news site Aleteia reports. Gunmen stormed the offices of the French humor magazine in retaliation for the magazine printing Mohammed cartoons.

French Interior Minister Bernard Cazeneuve vowed to deport any foreign clerics preaching hatred. Authorities are investigating some mosques, and if found to be inciting terrorism, they will be closed, according to Cazeneuve. (RELATED: Charlie Hebdo’s Editor Doesn’t Want To Be Your Free Speech Hero)

“We cannot lose this war because it’s fundamentally a war of civilization,” French Prime Minister Manuel Valls told French television. “It’s our society, our civilization that we are defending.”

Yassin Salhi, 35, admitted to decapitating his boss at the factory. After pinning the severed head to a fence with two Islamic State flags, Salhi took a selfie with it and sent the picture to a contact, Agence France Presse reported.

It is unclear if Salhi was radicalized in a French mosque. He had been known to French officials since 2006 for ties with radical Islamists inside the country.

Obama blocks plan by allies to fight ISIS (Islamic State)

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The question isn’t what side is Obama on; the question is, what are we going to do about it? He’s a bloody nightmare.

“US blocks attempts by Arab allies to fly heavy weapons directly to Kurds to fight Islamic State,” by , Defence Editor, The Telegraph, Jul 1, 2015

Middle East allies accuse Barack Obama and David Cameron of failing to show strategic leadership in fight against Islamic State

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The United States has blocked attempts by its Middle East allies to fly heavy weapons directly to the Kurds fighting Islamic State jihadists in Iraq, The Telegraph has learnt.

Some of America’s closest allies say President Barack Obama and other Western leaders, including David Cameron, are failing to show strategic leadership over the world’s gravest security crisis for decades.

They now say they are willing to “go it alone” in supplying heavy weapons to the Kurds, even if means defying the Iraqi authorities and their American backers, who demand all weapons be channelled through Baghdad.

High level officials from Gulf and other states have told this newspaper that all attempts to persuade Mr Obama of the need to arm the Kurds directly as part of more vigorous plans to take on Islamic State of Iraq and the Levant (Isil) have failed. The Senate voted down one attempt by supporters of the Kurdish cause last month.

The officials say they are looking at new ways to take the fight to Isil without seeking US approval.

“If the Americans and the West are not prepared to do anything serious about defeating Isil, then we will have to find new ways of dealing with the threat,” said a senior Arab government official. “With Isil making ground all the time we simply cannot afford to wait for Washington to wake up to the enormity of the threat we face.”


Kurdish Peshmerga fighters train on a weapon during a training session with British military advisers

The Peshmerga have been successfully fighting Isil, driving them back from the gates of Erbil and, with the support of Kurds from neighbouring Syria, re-establishing control over parts of Iraq’s north-west.

But they are doing so with a makeshift armoury. Millions of pounds-worth of weapons have been bought by a number of European countries to arm the Kurds, but American commanders, who are overseeing all military operations against Isil, are blocking the arms transfers.

One of the core complaints of the Kurds is that the Iraqi army has abandoned so many weapons in the face of Isil attack, the Peshmerga are fighting modern American weaponry with out-of-date Soviet equipment.

At least one Arab state is understood to be considering arming the Peshmerga directly, despite US opposition.

The US has also infuriated its allies, particularly Saudi Arabia, Jordan and the Gulf states, by what they perceive to be a lack of clear purpose and vacillation in how they conduct the bombing campaign. Other members of the coalition say they have identified clear Isil targets but then been blocked by US veto from firing at them.

“There is simply no strategic approach,” one senior Gulf official said. “There is a lack of coordination in selecting targets, and there is no overall plan for defeating Isil.”

Western leaders increasingly accept that the “war on Isil” has not gone well, from the moment last year Mr Obama called the group a “JV [junior varsity] team” of jihadists compared with al-Qaeda. At that point, Isil had seized Fallujah, which US forces took in a bloody battle in 2004. It went on to take much of western Iraq and large areas of Syria, and in May took Ramadi, the capital of Anbar province.

Britain is moving closer to expanding its role in the war. The Government on Wednesday gave its strongest indication yet that MPs will be given a new vote on whether to bomb Isil in Syria.

Michael Fallon, the Defence Secretary, said it was “illogical” that British planes were able to hit extremists in Iraq but not across the border.

Any decision to bomb in Syria would have to be approved by MPs. In 2013, the Prime Minister lost a vote for British military action in Syria. However, Mr Fallon said: “It is a new Parliament and I think new Members of Parliament will want to think very carefully about how we best deal with Isil, and the illogicality of Isil not respecting the borderlines.”

Mr Fallon suggested that a bombing campaign could be mounted in revenge for the terror attacks in Tunisia if a link could be proved between the killer and Isil in Libya. Britain would only take military action in Libya “where we think there is an imminent threat, a very direct to British lives or, for example, to British hostages”, he said.

Senior Whitehall sources did not distance themselves from Mr Fallon’s comments but insisted there was no immediate prospect of military action.

The Telegraph understands that Mr Cameron is concerned that Labour might force the Government into another defeat over Syria.

– See more at: http://pamelageller.com/2015/07/obama-blocks-plan-by-allies-to-fight-isis-islamic-state.html/#sthash.4MFKG2ga.dpuf

Hillary Clinton’s emails reveal link with Qatari royal family

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Emails of former US Secretary of State Hillary Clinton published by the State Department expose that the Qatari Royal family made efforts to befriend the American politician through former British PM Tony Blair’s spouse, Cherie Blair.

Sheikha Mozah bint Nasser al-Missned, a wife of the former emir of Qatar and mother of the ruling emir, Sheikh Tamin bin Hamad Al-Thani, established contact with Clinton via Cherie Blair.

The Blair and Clinton families have been political and personal friends since the 1990s.

“Sheika Moser (Sheikha Mozah) has approached me privately saying they are keen to get their relationship with the USA onto a more positive footing and she was hoping for a ‘women to women’ one to one private meeting with you,” Cherie Blair wrote to Clinton in May 2009. “I am sure the conversation would not be confined to these issues but would be about the U.S./Qatar relationship generally,” Blair wrote, mentioning joint philanthropic interests among issues Clinton and Mozah could talk about.

Blair did her best to persuade Hillary Clinton to get acquainted with “someone who has real influence in Qatar,” the newly-released documents show.

“I could make time to meet in DC during the weeks of June 8th and 15th. Would that work?” Clinton gave in on May 26, promising to rearrange her schedule to “fit her time.”

Yet Sheikha Mozah was unable to meet with Clinton on suggested dates in June 2009 “due to prior commitments” and proposed to meet “immediately after Ramadan/Eid week of September 27, 2009.”

Altogether, on Tuesday the State Department released over 1,900 of Clinton’s emails (3,000 pages). Within this bulk of information, there are 19 emails that have to do with Clinton/ Mozah getting acquainted with each other.

Sheikha Mozah bint Nasser Al Missned, wife of Former Qatar's Amir Sheik Hamad bin Khalifa al-Thani (Reuters / Thomas Peter)

Sheikha Mozah bint Nasser Al Missned, wife of Former Qatar’s Amir Sheik Hamad bin Khalifa al-Thani (Reuters / Thomas Peter)

The royal Al-Thanis family of Qatar is known for its fabulous wealth gathered on the back of the petroleum and liquefied natural gas trade.Over the last decades, Qatar rulers spent billions on increasing its influence in Western capitals. Particularly heavily Al-Thanis invested in London,the Guardianclaims.

The scale of the Qatar royal family’s investment in the British capital remains largely unknown. Al-Thanis own Harrods, the Olympic village and Shard completely, along with certain property in Hyde Park. A quarter of Sainsbury’s, large share of Barclays and 8 percent of the London Stock Exchange all belong to them, as well as the US embassy building in Grosvenor Square.

Earlier this year it emerged that the Clinton Foundation allegedly received multiple foreign donations during Hillary Clinton’s tenure as secretary of state.

A newly-released book accused the Clinton Foundation, run by presidential candidate Hillary Clinton, her husband Bill Clinton, and their daughter Chelsea, of accepting quid pro quo donations from foreign sources while Hillary was secretary of state.

It was revealed that governments that had received frequent criticism from the State Department for repressive policies – countries like Algeria, Saudi Arabia, Kuwait, the United Arab Emirates, Oman and Qatar – had donated to the Clinton Foundation and gained State Department clearance to buy caches of American-made weapons.

In late May, the FIFA corruption scandal also cast its shadow over the Clintons, as it emerged that the Clinton Foundation received at least $50,000 and as much as $100,000 from the football governing body.

“I don’t think there’s anything sinister in trying to get wealthy people in countries that are seriously involved in development to spend their money wisely in a way that helps poor people and lifts them up,” Hillary Clinton told NBC News in May.

The Guardian reports that Blair family has done some favors for Qatar’s rulers, too.

Although Tony Blair stepped down from his post as PM in 2007, his influence remains in place. In 2012 he brokered a $50-billion commodities deal between Glencore and Xstrata, which brought him $1 million.

Later the same year the former Labor leader assisted the Qataris in getting a share in a £1-billion-valued group owning such prestigious hotel as Berkeley, Claridge’s and Connaught, the Guardian claims.

The Blairs’ charitable Faith Foundation, aimed at combating religious extremism, does not hesitate to accept donations from anyone, be it Rupert Murdoch or Ukrainian oligarchs.

In this regard, the Faith Foundation mirrors the Clinton Foundation, set up by the former US President Bill Clinton after leaving his post in 2001.

From 2009 up to 2013, the year the Ukrainian crisis erupted, the Clinton Foundation received at least $8.6 million from the Victor Pinchuk Foundation, which is headquartered in the Ukrainian capital of Kiev, a new report claims.

READ MORE: Ukraine oligarch ‘top cash contributor’ to Clinton Foundation prior to Kiev crisis

The Clinton Foundation’s donor list includes some 200,000 names, among them foreign financial institutions and Wall Street-based financial organizations, international energy conglomerates and governments, the government of Qatar included, which allegedly has given between $1 million and $5 million in donations to the Clintons.