Greece to Leave Euro Zone on June 18!

Greece will leave the euro zone on June 18 if the populist government wins the country’s elections on the 17 as the rest of the euro zone rounds on "cheaters," Nick Dewhirst, director at wealth management firm Integral Asset Management, told CNBC.com Monday.

“The euro zone is a club but you get cheaters who get away with it until everyone finds out and at that point you need to remove them otherwise everyone will cheat. It’s better for Greece to leave,” Dewhirst said.

He added that Greek society was built on cheating and scheming, saying “everyone does it” but that voters elsewhere in the euro zone were now calling Greece to account.

- Read the full story at CNBC here:

http://www.cnbc.com/id/47587509 

Ben Davies - The Gold & Silver Liquidation is Over

“I humbly believe the seller is done. For one week there has been several but mainly one entity selling Comex gold futures, as well as some physical to liquidate on the open and closes. This suggest to us it was a CTA commodity type fund. They use volume areas of the day to transact.”

The sell-off in gold is reminiscent of the 2008 deleveraging process but it is more similar in dynamics to 2012 when a notable fund manager had to sell his gold/ ETF holdings. There were buyers of course, seller and buyer volumes must match. But the need to sell overwhelmed the need to buy.

When you have redemptions time is against you to liquidate, so it becomes a case of sell at any price as time becomes finite. Gold buyers picked up some bargains then and they will now.

Before FOMC minutes two nights ago the seller was back at the close. And then the FOMC minutes changed the dynamic of market with the mention by some members that QE would be back if they saw renewed economic weakness. This is the association for us all of why the market stopped going down but in truth the seller was done."

- Ben Davies, via a recent King World News Interview:

http://kingworldnews.com/kingworldnews/KWN_DailyWeb/Entries/2012/5/18_Ben_Davies_-_The_Gold_%26_Silver_Liquidation_is_Over.html 

Facebook IPO Equals EPIC FAIL

"I thought it was going to open at $48 and trade up around there," said Michael Cohn, chief market strategist at Atlantis Asset Management in New York.

Facebook closed unchanged at $38.00 per share, after massive intervention to maintain that price throughout the day.

Greece May be Forced to Leave the Euro

Germany and the European Central Bank are thought to have drawn up detailed plans for a Greek exit for the euro. They are designed to stop it provoking panic in other vulnerable countries, particularly Spain and Ireland. However, this is fraught with difficulties, particularly if Greece refuses to take part in an “negotiated exit”.

Yesterday, Mrs Merkel raised the spectre of Greece leaving the euro. She is under increasing pressure in Germany to force the country out of the single currency to avert several more years of uncertainty. “I believe it’s better for the Greeks to stay in the euro area, but that also requires that we set out a path on which Greece gets back on its feet step by step,” said the chancellor.

- Read the full article here:

http://www.telegraph.co.uk/finance/financialcrisis/9265930/Merkel-tells-Greece-to-back-cuts-or-face-euro-exit.html

Can YOU See the Future?

Bring on the Money Printing!

"It’s clear that people aren’t going to stand for austerity anymore and the politicians, all they want to do is get reelected, so they are going to go where the votes are. This probably ought to be the final hurrah for the deflationists argument. I say ‘argument’ because it hasn’t been an outcome, it’s just been a theory.”

- Bill Fleckenstein, via a recent King World News interview:

http://kingworldnews.com/kingworldnews/KWN_DailyWeb/Entries/2012/5/8_Fleckenstein_-_Stock_Market_to_Tank,_Buffetts_Ego_%26_Gold.html

BRICS to Establish New Bank

The decline of the dollar continues. The dollar is being circumvented daily. When will the tipping point be hit?

Inflation is Here to Stay

Embry - The Paper Guys have Overplayed their Hand

“I would dare say that the manipulation (of gold) today is perhaps more blatant and there is more of it than I’ve ever seen. They (the manipulators) don’t care anymore. You see these 3 o’clock in the morning precipitous drops.

You see drops when the COMEX opens and when the London PM fix is in. There are always these times they attack, and no market that wasn’t being manipulated would trade with that regularity.

I am of the mind that the paper guys have overplayed their hand and they have pushed the price too low. The people in the East, in particular, the Russians, the Chinese, etc., know perfectly well the situation. They are using this as a wonderful opportunity to take on more and more physical at what I would consider to be bargain prices.

I was fascinated by what Jim (Sinclair) had to say, that he thought there could be an air pocket in gold to the upside. That would really be something, but it wouldn’t shock me.”

- John Embry via a recent King World News interview, read the full interview here:

http://kingworldnews.com/kingworldnews/KWN_DailyWeb/Entries/2012/4/27_Eric_Sprott_-_Global_Shocks_Coming,_Investors_Need_to_Prepare.html

Keiser Report: Return of the Silver Liberation Army

  "In this episode, Max Keiser and co-host, Stacy Herbert, discuss the return of the Silver Liberation Army as JP Morgan's Blythe Masters claims the bank does not manipulate silver prices. They also discuss JP Morgan's 'London whale' breaking the credit default swap (CDS) index market with massive prop position. In the second half of the show Max talks to author, Pierre Jovanovic, about Blythe Masters role at JP Morgan and the similarities between the world today and France of the 18th century on the eve of revolution."

Silver Manipulation Acknowledged

- Source: http://goldsilver.com

Vice President Biden: "We Want To Create A Global Tax"

Make sure this never happens!

"For years, American manufacturers have faced one of the highest tax rates in the world. We want to reduce that by over 20%. We want to drop the rate, particularly, for high-tech manufacturers like you, Mr. President, even further than the 20%," Vice President Joe Biden said at a manufacturing plant in Davenport, Iowa this week.

"We want to create (what's called) a global minimum tax, because American taxpayers shouldn't be providing a larger subsidy for investing abroad than investing at home," Biden said at a campaign event.

- Read the full article here:

http://www.realclearpolitics.com/video/2012/03/30/biden_we_want_to_create_a_global_minimum_tax.html