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The Global Economy Is Officially Melting Down

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As much as the financiers on Wall Street and the officials at the Fed would like the party to keep going, it looks it’s finally about to stop. Years of bailouts and monetary expansion have created one of the most inflated and artificial economic booms in history, and now it appears that this global economic bubble is deflating. Markets across the board are melting down as we speak, and the financial... 

Alexis Tsipras to Step Down in September 2015, Hold Snap Elections

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Prime Minister Alexis Tsipras has confirmed his resignation and early election plans for Greece in a live address. The move comes after Athens managed to pay a huge chunk of its €3.4 billion debt to the ECB. “The political mandate of the January 25 elections has exhausted its limits and now the Greek people have to have their say,” Tsipras said in a televised address Thursday night. Tsipras... 

Soros-Linked Billionaire Buys Up Gold

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A billionaire hedge fund manager linked to George Soros bought up gold shares after multiple financial experts warned a stock market crash is coming. Stanley Druckenmiller, who runs Duquesne Capital after previously working for Soros, now owns 2.88 million shares of SPDR Gold Trust, making it his largest single holding and long position. That means if the price of gold goes up, Druckenmiller profits... 

EU approves Greece third bailout

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Eurozone finance ministers have finally approved Greece’s third debt bailout after Greek parliament endorsed the rescue package following a tough all-night debate. “New loans of up to €86 billion will be made available over the next three years to Greece,” the European Commission said in a statement on Friday after six hours of talks in the Belgian capital Brussels to nail down the painful... 

John Kerry says US Dollar may soon Collapse as World Reserve Currency

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Washington may lose the support of the EU in Ukraine, should the States refuses to implement the nuclear deal with Iran. This may also collapse the US dollar as a reserve currency, Secretary of State John Kerry said in New York as he was promoting the deal with Iran. “If Congress rejects the Iran nuclear deal, “that is a recipe, very quickly, my friends, businesspeople here, for the American... 

70% Americans claim US economy is 'negative'

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Bloomberg’s Consumer Comfort index in the US shows a record-low level of the Americans being content with the state of economy. According to the report, 70% of the US residents estimate their country’s state of economy as “negative”. The number of those being sure that the US economy is “excellent” also amazes. That is only 1%. The rest of 29% believe that the economy... 

Shell to lay off 6500 jobs amid price slump

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Royal Dutch Shell has announced plans to lay off 6,500 jobs this year due to global decline in oil prices. While announcing a 35% decrease in its profit, a statement from the company says it is intending to slash operating costs for 2015 by 10%. The London-listed oil firm said it may force to cut more jobs next year warning that lower oil prices could continue for several years. “We’re taking... 

Athens Facing Ruin as IMF Stands By to Rescue Greek Bailout

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The United States is reported to be working with the International Monetary Fund (IMF) on a backup plan to rescue the Greek economy as economists throughout the world queue up to criticize the latest bailout plan as totally unworkable. The sheer folly of the latest bailout plan for Greece was summed up last week by Finland’s Minister for Foreign Affairs Timo Soini who said that, in agreeing... 

Texas sets its own gold-backed bank

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Texas is going to launch its own gold-backed bank. The law on Texas Bullion Depository operation has been already signed by Governor Greg Abbott. Now the State representatives can trade, and make any operations in precious metals. The measure is a real challenge to the Federal Reserve System. About $1 billion of Texas gold will be repatriated from New York. “With the passage of this bill, the... 

China's Economy Collapsing

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Banks made an additional 1.28 trillion yuan worth of loans to China in June. Things are not looking for for China. It seems like Beijing has averted a crisis as far as their stock markets are concerned with some heavy-handed intervention. But their corporate debt has already reached $ 16.1 trillion and is still rising. Their corporate debt is currently at 160% of their GDP and that is twice as much... 

Barclays to Cut 30,000 Jobs

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Barclays has reportedly announced plans to cut more than 30,000 jobs within two years, in a move that comes just two weeks after the bank’s chief executive Antony Jenkins was fired. More than 30,000 employees of Barclays, the seventh-largest bank in the world in terms of managed assets, will be laid off within the next two years, in a development that comes amid the bank’s efforts to speed... 

Varoufakis says new Greek bailout doomed

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Former Greek Finance Minister Yanis Varoufakis has warned that the economic reforms from Greece’s debt holders are doomed to fail. The assessment comes as PM Alexis Tsipras has reshuffled his cabinet in efforts to secure a third bailout package. The EU is preparing to start talks with Athens on a third bailout which could reach €86 billion ($93 billion), but the reform program laid down by Brussels... 

A Economic Collapse Is Imminent Within This 6 Month Time Period

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It appears that the threat of an epic financial and economic disaster is not only real, but moving full steam ahead right before our eyes. Over the last six years Michael Snyder of The Economic Collapse Blog has published over one-thousand research papers, articles and reports detailing the financial, economic and monetary crises sweeping the world. While he has often urged his readers to prepare... 

Collapse of Eurozone Has Started - German Media

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European creditors have agreed on a deal with Greece, but the existence of the political union in its previous form is out of the question. The EU will split, and the final break is only a matter of time, DWN wrote. Many international observers called the recent EU summit a “humiliation of the Greeks.” The talks which were the longest in the history of the Union diminished all values for which... 

Bulgaria to deny entering Eurozone

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The Bulgarian journalists have reckoned how much is an average country citizen poorer than that of a neighbouring Greece. It turned out, that average income of the Greeks have been 3,5 times higher against that of the Bulgarians for some years. In 2013, for example, an average annual income of a Greek resident made up €8,879, that is 17,366 Bulagarian Leva. An average Bulgarian citizen got only... 
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