Debt Deals & Grexit
It is all show. Now, Merkel desperately wants to bring a signed bailout deal with Greece to secure the euro. Greece managed to raise nearly €3 billion at its debt auction at 2.97% but for six-month securities. While the Greek politicians were delighted, we are talking about six-month paper. Capital is not taking a long-term view in Europe.
Meanwhile, Greece is still waiting for the disbursement of further loans from the second bailout package of €7.2 billion. As long as it appears there may be a deal, the short-term paper sold. But tax revenues are not likely to increase. They are becoming more aggressive in collecting taxes to pay Brussels, which will only harm the Greek economy even more and increase the chances of it breaking away from the euro after 2015.75.
Bilderberg Meeting: June 11-14 in Austria
Here are the participants for the Bilderberg meeting over the weekend in Tirol, June 11-14. Bilderberg is named after a hotel chain where the first meeting took place May 29-31, 1954, in Netherlands. As the G7 summit of the Seven Dwarfs closes, another opens. Thursday sees the start of the influential Bilderberg policy conference, which will be held in Austria where it began, just 16 miles south of the G7 Seven Dawrfs summit.
The list of attendees is as follows:
Chairman Castries, Henri de Chairman and CEO, AXA Group FRA
Achleitner, Paul M. Chairman of the Supervisory Board, Deutsche Bank AG DEU
Agius, Marcus Non-Executive Chairman, PA Consulting Group GBR
Ahrenkiel, Thomas Director, Danish Intelligence Service (DDIS) DNK
Allen, John R. Special Presidential Envoy for the Global Coalition to Counter ISIL US Department of State, USA
Altman, Roger C. Executive Chairman, Evercore USA
Applebaum, Anne Director of Transitions Forum, Legatum Institute USA
Apunen, Matti Director, Finnish Business and Policy Forum EVA FIN
Baird, Zoë CEO and President, Markle Foundation USA
Balls, Edward M. Former Shadow Chancellor of the Exchequer GBR
Balsemão, Francisco Pinto Chairman, Impresa SGPS PRT
Barroso, José M. Durão Former President of the European Commission PRT
Baverez, Nicolas Partner, Gibson, Dunn & Crutcher LLP FRA
Benko, René Founder, SIGNA Holding GmbH AUT
Bernabè, Franco Chairman, FB Group SRL ITA
Beurden, Ben van CEO, Royal Dutch Shell plc NLD
Bigorgne, Laurent Director, Institut Montaigne FRA
Boone, Laurence Special Adviser on Financial and Economic Affairs to the President FRA
Botín, Ana P. Chairman, Banco Santander ESP
Brandtzæg, Svein Richard President and CEO, Norsk Hydro ASA NOR
Bronner, Oscar Publisher, Standard Verlagsgesellschaft AUT
Burns, William President, Carnegie Endowment for International Peace USA
Calvar, Patrick Director General, DGSI FRA
Castries, Henri de Chairman, Bilderberg Meetings; Chairman and CEO, AXA Group FRA
Cebrián, Juan Luis Executive Chairman, Grupo PRISA ESP
Clark, W. Edmund Retired Executive, TD Bank Group CAN
Coeuré, Benoît Member of the Executive Board, European Central Bank INT
Coyne, Andrew Editor, Editorials and Comment, National Post CAN
Damberg, Mikael L. Minister for Enterprise and Innovation SWE
De Gucht, Karel Former EU Trade Commissioner, State Minister BEL
Donilon, Thomas E. Former U.S. National Security Advisor; Partner and Vice Chair, O’Melveny & Myers LLP USA
Döpfner, Mathias CEO, Axel Springer SE DEU
Dowling, Ann President, Royal Academy of Engineering GBR
Dugan, Regina Vice President for Engineering, Advanced Technology and Projects, Google USA
Eilertsen, Trine Political Editor, Aftenposten NOR
Eldrup, Merete CEO, TV 2 Danmark A/S DNK
Elkann, John Chairman and CEO, EXOR; Chairman, Fiat Chrysler Automobiles ITA
Enders, Thomas CEO, Airbus Group DEU
Erdoes, Mary CEO, JP Morgan Asset Management USA
Fairhead, Rona Chairman, BBC Trust GBR
Federspiel, Ulrik Executive Vice President, Haldor Topsøe A/S DNK
Feldstein, Martin S. President Emeritus, NBER; Professor of Economics, Harvard University USA
Ferguson, Niall Professor of History, Harvard University, Gunzberg Center for European Studies USA
Fischer, Heinz Federal President AUT
Flint, Douglas J. Group Chairman, HSBC Holdings plc GBR
Franz, Christoph Chairman of the Board, F. Hoffmann-La Roche Ltd CHE
Fresco, Louise O. President and Chairman Executive Board, Wageningen University and Research Centre NLD
Griffin, Kenneth Founder and CEO, Citadel Investment Group, LLC USA
Gruber, Lilli Executive Editor and Anchor “Otto e mezzo”, La7 TV ITA
Guriev, Sergei Professor of Economics, Sciences Po RUS
Gürkaynak, Gönenç Managing Partner, ELIG Law Firm TUR
Gusenbauer, Alfred Former Chancellor of the Republic of Austria AUT
Halberstadt, Victor Professor of Economics, Leiden University NLD
Hampel, Erich Chairman, UniCredit Bank Austria AG AUT
Hassabis, Demis Vice President of Engineering, Google DeepMind GBR
Hesoun, Wolfgang CEO, Siemens Austria AUT
Hildebrand, Philipp Vice Chairman, BlackRock Inc. CHE
Hoffman, Reid Co-Founder and Executive Chairman, LinkedIn USA
Ischinger, Wolfgang Chairman, Munich Security Conference INT
Jacobs, Kenneth M. Chairman and CEO, Lazard USA
Jäkel, Julia CEO, Gruner + Jahr DEU
Johnson, James A. Chairman, Johnson Capital Partners USA
Juppé, Alain Mayor of Bordeaux, Former Prime Minister FRA
Kaeser, Joe President and CEO, Siemens AG DEU
Karp, Alex CEO, Palantir Technologies USA
Kepel, Gilles University Professor, Sciences Po FRA
Kerr, John Deputy Chairman, Scottish Power GBR
Kesici, Ilhan MP, Turkish Parliament TUR
Kissinger, Henry A. Chairman, Kissinger Associates, Inc. USA
Kleinfeld, Klaus Chairman and CEO, Alcoa USA
Knot, Klaas H.W. President, De Nederlandsche Bank NLD
Koç, Mustafa V. Chairman, Koç Holding A.S. TUR
Kravis, Henry R. Co-Chairman and Co-CEO, Kohlberg Kravis Roberts & Co. USA
Kravis, Marie-Josée Senior Fellow and Vice Chair, Hudson Institute USA
Kudelski, André Chairman and CEO, Kudelski Group CHE
Lauk, Kurt President, Globe Capital Partners DEU
Lemne, Carola CEO, The Confederation of Swedish Enterprise SWE
Levey, Stuart Chief Legal Officer, HSBC Holdings plc USA
Leyen, Ursula von der Minister of Defence DEU
Leysen, Thomas Chairman of the Board of Directors, KBC Group BEL
Maher, Shiraz Senior Research Fellow, ICSR, King’s College London GBR
Markus Lassen, Christina Head of Department, Ministry of Foreign Affairs, Security Policy and Stabilisation DNK
Mathews, Jessica T. Distinguished Fellow, Carnegie Endowment for International Peace USA
Mattis, James Distinguished Visiting Fellow, Hoover Institution, Stanford University USA
Maudet, Pierre Vice-President of the State Council, Department of Security, Police and the Economy of Geneva CHE
McKay, David I. President and CEO, Royal Bank of Canada CAN
Mert, Nuray Columnist, Professor of Political Science, Istanbul University TUR
Messina, Jim CEO, The Messina Group USA
Michel, Charles Prime Minister BEL
Micklethwait, John Editor-in-Chief, Bloomberg LP USA
Minton Beddoes, Zanny Editor-in-Chief, The Economist GBR
Monti, Mario Senator-for-life; President, Bocconi University ITA
Mörttinen, Leena Executive Director, The Finnish Family Firms Association FIN
Mundie, Craig J. Principal, Mundie & Associates USA
Munroe-Blum, Heather Chairperson, Canada Pension Plan Investment Board CAN
Netherlands, H.R.H. Princess Beatrix of the NLD
O’Leary, Michael CEO, Ryanair Plc IRL
Osborne, George First Secretary of State and Chancellor of the Exchequer GBR
Özel, Soli Columnist, Haberturk Newspaper; Senior Lecturer, Kadir Has University TUR
Papalexopoulos, Dimitri Group CEO, Titan Cement Co. GRC
Pégard, Catherine President, Public Establishment of the Palace, Museum and National Estate of Versailles FRA
Perle, Richard N. Resident Fellow, American Enterprise Institute USA
Petraeus, David H. Chairman, KKR Global Institute USA
Pikrammenos, Panagiotis Honorary President of The Hellenic Council of State GRC
Reisman, Heather M. Chair and CEO, Indigo Books & Music Inc. CAN
Rocca, Gianfelice Chairman, Techint Group ITA
Roiss, Gerhard CEO, OMV Austria AUT
Rubin, Robert E. Co Chair, Council on Foreign Relations; Former Secretary of the Treasury USA
Rutte, Mark Prime Minister NLD
Sadjadpour, Karim Senior Associate, Carnegie Endowment for International Peace USA
Sánchez Pérez-Castejón, Pedro Leader, Partido Socialista Obrero Español PSOE ESP
Sawers, John Chairman and Partner, Macro Advisory Partners GBR
Sayek Böke, Selin Vice President, Republican People’s Party TUR
Schmidt, Eric E. Executive Chairman, Google Inc. USA
Scholten, Rudolf CEO, Oesterreichische Kontrollbank AG AUT
Senard, Jean-Dominique CEO, Michelin Group FRA
Sevelda, Karl CEO, Raiffeisen Bank International AG AUT
Stoltenberg, Jens Secretary General, NATO INT
Stubb, Alexander Minister of Finance FIN
Suder, Katrin Deputy Minister of Defense DEU
Sutherland, Peter D. UN Special Representative; Chairman, Goldman Sachs International IRL
Svanberg, Carl-Henric Chairman, BP plc; Chairman, AB Volvo SWE
Svarva, Olaug CEO, The Government Pension Fund Norway NOR
Thiel, Peter A. President, Thiel Capital USA
Tsoukalis, Loukas President, Hellenic Foundation for European and Foreign Policy GRC
Üzümcü, Ahmet Director-General, Organisation for the Prohibition of Chemical Weapons INT
Vitorino, António M. Partner, Cuetrecasas, Concalves Pereira, RL PRT
Wallenberg, Jacob Chairman, Investor AB SWE
Weber, Vin Partner, Mercury LLC USA
Wolf, Martin H. Chief Economics Commentator, The Financial Times GBR
Wolfensohn, James D. Chairman and CEO, Wolfensohn and Company USA
Zoellick, Robert B. Chairman, Board of International Advisors, The Goldman Sachs Group USA
Agius, Marcus Non-Executive Chairman, PA Consulting Group GBR
Ahrenkiel, Thomas Director, Danish Intelligence Service (DDIS) DNK
Allen, John R. Special Presidential Envoy for the Global Coalition to Counter ISIL US Department of State, USA
Altman, Roger C. Executive Chairman, Evercore USA
Applebaum, Anne Director of Transitions Forum, Legatum Institute USA
Apunen, Matti Director, Finnish Business and Policy Forum EVA FIN
Baird, Zoë CEO and President, Markle Foundation USA
Balls, Edward M. Former Shadow Chancellor of the Exchequer GBR
Balsemão, Francisco Pinto Chairman, Impresa SGPS PRT
Barroso, José M. Durão Former President of the European Commission PRT
Baverez, Nicolas Partner, Gibson, Dunn & Crutcher LLP FRA
Benko, René Founder, SIGNA Holding GmbH AUT
Bernabè, Franco Chairman, FB Group SRL ITA
Beurden, Ben van CEO, Royal Dutch Shell plc NLD
Bigorgne, Laurent Director, Institut Montaigne FRA
Boone, Laurence Special Adviser on Financial and Economic Affairs to the President FRA
Botín, Ana P. Chairman, Banco Santander ESP
Brandtzæg, Svein Richard President and CEO, Norsk Hydro ASA NOR
Bronner, Oscar Publisher, Standard Verlagsgesellschaft AUT
Burns, William President, Carnegie Endowment for International Peace USA
Calvar, Patrick Director General, DGSI FRA
Castries, Henri de Chairman, Bilderberg Meetings; Chairman and CEO, AXA Group FRA
Cebrián, Juan Luis Executive Chairman, Grupo PRISA ESP
Clark, W. Edmund Retired Executive, TD Bank Group CAN
Coeuré, Benoît Member of the Executive Board, European Central Bank INT
Coyne, Andrew Editor, Editorials and Comment, National Post CAN
Damberg, Mikael L. Minister for Enterprise and Innovation SWE
De Gucht, Karel Former EU Trade Commissioner, State Minister BEL
Donilon, Thomas E. Former U.S. National Security Advisor; Partner and Vice Chair, O’Melveny & Myers LLP USA
Döpfner, Mathias CEO, Axel Springer SE DEU
Dowling, Ann President, Royal Academy of Engineering GBR
Dugan, Regina Vice President for Engineering, Advanced Technology and Projects, Google USA
Eilertsen, Trine Political Editor, Aftenposten NOR
Eldrup, Merete CEO, TV 2 Danmark A/S DNK
Elkann, John Chairman and CEO, EXOR; Chairman, Fiat Chrysler Automobiles ITA
Enders, Thomas CEO, Airbus Group DEU
Erdoes, Mary CEO, JP Morgan Asset Management USA
Fairhead, Rona Chairman, BBC Trust GBR
Federspiel, Ulrik Executive Vice President, Haldor Topsøe A/S DNK
Feldstein, Martin S. President Emeritus, NBER; Professor of Economics, Harvard University USA
Ferguson, Niall Professor of History, Harvard University, Gunzberg Center for European Studies USA
Fischer, Heinz Federal President AUT
Flint, Douglas J. Group Chairman, HSBC Holdings plc GBR
Franz, Christoph Chairman of the Board, F. Hoffmann-La Roche Ltd CHE
Fresco, Louise O. President and Chairman Executive Board, Wageningen University and Research Centre NLD
Griffin, Kenneth Founder and CEO, Citadel Investment Group, LLC USA
Gruber, Lilli Executive Editor and Anchor “Otto e mezzo”, La7 TV ITA
Guriev, Sergei Professor of Economics, Sciences Po RUS
Gürkaynak, Gönenç Managing Partner, ELIG Law Firm TUR
Gusenbauer, Alfred Former Chancellor of the Republic of Austria AUT
Halberstadt, Victor Professor of Economics, Leiden University NLD
Hampel, Erich Chairman, UniCredit Bank Austria AG AUT
Hassabis, Demis Vice President of Engineering, Google DeepMind GBR
Hesoun, Wolfgang CEO, Siemens Austria AUT
Hildebrand, Philipp Vice Chairman, BlackRock Inc. CHE
Hoffman, Reid Co-Founder and Executive Chairman, LinkedIn USA
Ischinger, Wolfgang Chairman, Munich Security Conference INT
Jacobs, Kenneth M. Chairman and CEO, Lazard USA
Jäkel, Julia CEO, Gruner + Jahr DEU
Johnson, James A. Chairman, Johnson Capital Partners USA
Juppé, Alain Mayor of Bordeaux, Former Prime Minister FRA
Kaeser, Joe President and CEO, Siemens AG DEU
Karp, Alex CEO, Palantir Technologies USA
Kepel, Gilles University Professor, Sciences Po FRA
Kerr, John Deputy Chairman, Scottish Power GBR
Kesici, Ilhan MP, Turkish Parliament TUR
Kissinger, Henry A. Chairman, Kissinger Associates, Inc. USA
Kleinfeld, Klaus Chairman and CEO, Alcoa USA
Knot, Klaas H.W. President, De Nederlandsche Bank NLD
Koç, Mustafa V. Chairman, Koç Holding A.S. TUR
Kravis, Henry R. Co-Chairman and Co-CEO, Kohlberg Kravis Roberts & Co. USA
Kravis, Marie-Josée Senior Fellow and Vice Chair, Hudson Institute USA
Kudelski, André Chairman and CEO, Kudelski Group CHE
Lauk, Kurt President, Globe Capital Partners DEU
Lemne, Carola CEO, The Confederation of Swedish Enterprise SWE
Levey, Stuart Chief Legal Officer, HSBC Holdings plc USA
Leyen, Ursula von der Minister of Defence DEU
Leysen, Thomas Chairman of the Board of Directors, KBC Group BEL
Maher, Shiraz Senior Research Fellow, ICSR, King’s College London GBR
Markus Lassen, Christina Head of Department, Ministry of Foreign Affairs, Security Policy and Stabilisation DNK
Mathews, Jessica T. Distinguished Fellow, Carnegie Endowment for International Peace USA
Mattis, James Distinguished Visiting Fellow, Hoover Institution, Stanford University USA
Maudet, Pierre Vice-President of the State Council, Department of Security, Police and the Economy of Geneva CHE
McKay, David I. President and CEO, Royal Bank of Canada CAN
Mert, Nuray Columnist, Professor of Political Science, Istanbul University TUR
Messina, Jim CEO, The Messina Group USA
Michel, Charles Prime Minister BEL
Micklethwait, John Editor-in-Chief, Bloomberg LP USA
Minton Beddoes, Zanny Editor-in-Chief, The Economist GBR
Monti, Mario Senator-for-life; President, Bocconi University ITA
Mörttinen, Leena Executive Director, The Finnish Family Firms Association FIN
Mundie, Craig J. Principal, Mundie & Associates USA
Munroe-Blum, Heather Chairperson, Canada Pension Plan Investment Board CAN
Netherlands, H.R.H. Princess Beatrix of the NLD
O’Leary, Michael CEO, Ryanair Plc IRL
Osborne, George First Secretary of State and Chancellor of the Exchequer GBR
Özel, Soli Columnist, Haberturk Newspaper; Senior Lecturer, Kadir Has University TUR
Papalexopoulos, Dimitri Group CEO, Titan Cement Co. GRC
Pégard, Catherine President, Public Establishment of the Palace, Museum and National Estate of Versailles FRA
Perle, Richard N. Resident Fellow, American Enterprise Institute USA
Petraeus, David H. Chairman, KKR Global Institute USA
Pikrammenos, Panagiotis Honorary President of The Hellenic Council of State GRC
Reisman, Heather M. Chair and CEO, Indigo Books & Music Inc. CAN
Rocca, Gianfelice Chairman, Techint Group ITA
Roiss, Gerhard CEO, OMV Austria AUT
Rubin, Robert E. Co Chair, Council on Foreign Relations; Former Secretary of the Treasury USA
Rutte, Mark Prime Minister NLD
Sadjadpour, Karim Senior Associate, Carnegie Endowment for International Peace USA
Sánchez Pérez-Castejón, Pedro Leader, Partido Socialista Obrero Español PSOE ESP
Sawers, John Chairman and Partner, Macro Advisory Partners GBR
Sayek Böke, Selin Vice President, Republican People’s Party TUR
Schmidt, Eric E. Executive Chairman, Google Inc. USA
Scholten, Rudolf CEO, Oesterreichische Kontrollbank AG AUT
Senard, Jean-Dominique CEO, Michelin Group FRA
Sevelda, Karl CEO, Raiffeisen Bank International AG AUT
Stoltenberg, Jens Secretary General, NATO INT
Stubb, Alexander Minister of Finance FIN
Suder, Katrin Deputy Minister of Defense DEU
Sutherland, Peter D. UN Special Representative; Chairman, Goldman Sachs International IRL
Svanberg, Carl-Henric Chairman, BP plc; Chairman, AB Volvo SWE
Svarva, Olaug CEO, The Government Pension Fund Norway NOR
Thiel, Peter A. President, Thiel Capital USA
Tsoukalis, Loukas President, Hellenic Foundation for European and Foreign Policy GRC
Üzümcü, Ahmet Director-General, Organisation for the Prohibition of Chemical Weapons INT
Vitorino, António M. Partner, Cuetrecasas, Concalves Pereira, RL PRT
Wallenberg, Jacob Chairman, Investor AB SWE
Weber, Vin Partner, Mercury LLC USA
Wolf, Martin H. Chief Economics Commentator, The Financial Times GBR
Wolfensohn, James D. Chairman and CEO, Wolfensohn and Company USA
Zoellick, Robert B. Chairman, Board of International Advisors, The Goldman Sachs Group USA
Obama Commits Treason
The Guardian’s Spencer Ackerman reported on Twitter that on June 2 at 6:03 pm Obama said he would sign a law banning bulk collection. June 2, 9:50 pm: DOJ asks secret court for 180 more days of bulk collection. When the Founders drafted the Constitution, they feared that Congress would dominate the government – not the executive. The office of president has done everything in its power to undermine the Constitutional structure. There are no such things as “signing statement” that allows the president to selectively enforce what laws he agrees with. This circumvents the VETO power, which in Latin means “I forbid”.
Constitutionally, all legislation passed by both houses of Congress must be presented to the president. This presentation is in the president’s capacity as Head of State. Therefore, if the president approves of the legislation, he or she signs it into law. According to the Constitution (Article 1, Section 7) if the president does not approve, he or she must return the unsigned bill within ten days (excluding Sunday) to the House of the U.S. Congress in which it originated, while Congress is in session. The president is constitutionally required to state his or her objections to the legislation in writing, and Congress is constitutionally required to consider them, and to reconsider the legislation. In effect, this action is a veto.
If Congress overrides the veto by a two-thirds majority in each house, it becomes law without the president’s signature. Otherwise, the bill fails to become law, unless the bill is presented again to the president and he or she chooses to sign it. Historically, Congress overrides the presidential veto less than 10% of the time.
A bill can also become law without the president’s signature. This can occur if the president fails to sign a presented bill within the ten days allotted. If there are fewer than ten days left in the session before Congress adjourns, and if Congress does adjourn before the ten days have expired in which the president might sign the bill, then the bill fails to become law. This procedure, when used as a formal device, is called a pocket veto.
What is really controversial has become “signing statements” dating back to James Monroe. However, they were just that – a statement, rather than a directive. These signing statements have become an unconstitutional usurpation of power, never granted to the president. They began as a written comment issued by a president at the time he was signing the legislation. At first, these signing statements simply comment on the bill he signed, saying that it is good legislation or meets some pressing needs. However, the initial controversial aspects have evolved where these signing statements became claims by presidents that they believe some part of the legislation was unconstitutional and therefore they intend to ignore it or to implement it only in ways they believe are constitutional. More recently, these signing statements have departed entirely from where a president did not believe the law was constitutional, where his duty is first and foremost to uphold the Constitution, and degenerated into signing statements that simply refuse to comply because of political reasons. Obama has absolutely no power whatsoever to disagree with Congress for political reasons. If he disagrees with legislation, then the proper presidential action is either to veto the legislation (Constitution, Article I, Section 7) or to “faithfully execute” the laws (Constitution, Article II, Section 3). There is no gray area here.
What Obama did is outright treason. He has no authority whatsoever to refuse to comply with the legislation. His refusal is treason, for it contradicts that it is the people who make the laws through Congress, not the President unilaterally.
This is part of the Crisis in Democracy, marking the end times of every Republic throughout history.
Global Warming: Weather Is the Newest CIA Weapon
The CIA loves to waste money, dreaming up schemes for fights that are just not real. They are listening to academics talk about global warming and are living in fear that perhaps Russia is manipulating the weather to create floods and droughts. There goes countless billions down the academic hole to create a top secret weather machine for war. As the Daily Mail put it: “If it seems like it never stops raining, blame the Russians. Or even the North Koreans.”
Raising Tax Rates Reduces Tax Revenues
New security devices intend to stop robots by making the user answer a simple math equation, such as the sum of 3 + 5. While this may be beneficial, it most likely prevents politicians from entering your site since they know how to BS, write laws, but cannot do math. Increasing tax rates reduces tax revenues, and that is treason to socialists. But when Reagan cut the tax rates, tax revenues rose.
They are discovering that in Greece, where since 2010 they have raised the VAT rates 44% – from 4.5% to 6.5% and from 9% to 13% – while the main rate has grown 22% from 19% to 23%. Those tax hikes were intended to increase the government’s revenue, but they totally failed, reducing revenues by 20%. The 2014 VAT revenues dropped below €14 billion to €13.6 billion. In 2015, politicians always assume growth and the budget provided for VAT revenues of €14.4 billion. Of course, during the first five months there has already been a shortfall of €350 million.
The politicians just cannot figure out that they are not neutral in the economy. They consume money; they do not add to the national wealth. The more they squander, the lower the economic growth, and the lower the living standard. The greater they tax small business, the higher the unemployment rate will go, creating the lost generation among the youth.
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