EU Finance Minister Change Their Mind Because of a Greek Referendum
The EU Finance Ministers have been lying to the public for so long, they believe their own propaganda. The German press has called them for what they are – hopeless fools who “are totally overwhelmed and compensate for this condition with a good dose of arrogance. But the whistling in the dark is detected by the voters for what it is: a sign of weakness.”
The Deutsche-Wirtschafts-Nachrichten wrote a pointed piece stating bluntly “Not a single finance minister has even the spark of an idea how to proceed.” Suddenly they opened the door for continued Greek negotiations after closing it in the afternoon.
What is going on here? The fear stems from the Referendum. The bank run in Greece is not a major panic. Some are running to the banks, but it is not a full scale panic. So what is behind the change in heart? They ministers got calls from the political leaders asking are they crazy or just insane?
The greatest fear in Europe is allowing the people of any country to vote. If the people start to vote against the dictatorial austerity policies, the Federalization of Europe would collapse. They cannot allow any democratic process or they will see Brussels fall.
This is the silver bullet – let the people vote. This is what they are most afraid of in Brussels for they would all be out of a job.
Greek Bank Run Begins
The BBC is reporting that the Greece debt crisis is now leading to a Greek Bank Run as people clamor to hoard cash in the face of the Eurozone refusing any bailout extension. This is the typical human response in the face of uncertainty. Greece can pull out of this if they comprehend what really has to be done. If they abandon the Euro and abandon the insane taxes federally, they will see Europeans rush to get in as they did in Switzerland.
When I was in Poland, the people were against joining the Euro for everyone said the same thing – they would see their economy ruined like the Greeks. Austerity helps the bondholders at the expense of the people. Wake up and flip this upside down. Greece can really show Europe they are dead wrong. Hello: Watch ourSolution Conference for the way out.
Playing the Reversals
QUESTION:
Hello Martin. some weeks ago you said the Euro has to break through the 1,15 Level to test at the very best the 1,20 . Is this over now and confirmed that the 1,14 / 1,15 was the top ?
Best regards
JB-Germany
ANSWER: It appears that is the case. The way to gauge this is TIME v PRICE. You have turning points and price targets. May was a critical target and that is the high so far. Then we had June/July followed by September.
The way to use the model is the merger of Reversals and TIME. We could not exceed that threshold of 115. Exceeding that high will not be possible only if we close below 10335 level on a monthly basis. The numbers define the price level, but they must be achieved within a specified time target.
A September high for the Euro is still possible since July is a Directional Change. We could see the initial sharp drop creating the low from which new Weekly Bullish Reversals will be generated. We then watch to see if they are exceeded and if so we can still end up with a September high and then the crash.
I simply step in and step out. Sell against the 115 reversal and we know where your are right and wrong. Let the market decide and if exceeded then look for the 120. If not, you sold the high at 115.
I play the Reversals as key definitive targets where the market speaks to me rather than me trying to dictate what I “think” the market should do. ANTICIPATION plays the major role so this is why fundamentals lose money.
Greece Wakes Up – It is About Democracy
The Eurozone, or Euroland, is now getting ready to deal with a Greek debt default next week after refusing to extend credit following Prime Minister Alexis Tsipras’s surprise announcement of a referendum on an offer from creditors that the people in any real democracy should have a right to vote on. Brussels prefers dictatorship and rejects that the people have any say in their future. Brussels is trying desperately to suppress an democratic process in Europe under the misguided notion that the people are too stupid to realize what is good for them
Athens asked for an extension of Greece’s bailout program beyond Tuesday when it must pay €1.6 billion euros to the International Monetary Fund or go bust. The 18 members of the Euroland unanimously rejected the request and have now frozen Greece out of any further discussions with the European Central Bank and IMF. They are effecttively forcing Greek bankruptcy because they know the people will reject their policies anyhow.
Tsipras said he would respect the outcome of the vote, but he argued the lenders demands “clearly violate European social rules and fundamental rights”, and would asphyxiate Greece’s flailing economy and aimed at the “humiliation of the entire Greek people”. I cannot say he is incorrect. Brussels is just out of their mind for all they can see is their own jobs and not the people of Europe.
Long lines were reported in some supermarkets in Athens as people stocked up with supplies and banks will be forced to close. This is all because of the scare tactics that Greece needs Europe when they will realize it was the other way around.
The fascinating aspect which I find personally astonishing is how the computer picks up targets in advance and then the fundamentals confirm what the computer has been projecting all along. This demonstrates that capital moves inANTICIPATION of events so buy the rumor and sell the news. The last two weeks of June have shown up as key targets for months as has June/July on the monthly level.
This to me is amazing for it is proof positive that capital flows are working subtly to create the trend. The computer is picking up the turning points from price action deriving turning point from 72 different models. People are concerned about Greece and there are two camps. The Arrogant crowd assumes they do not need or care about Greece and then there are those who fear a GRexit will be bearish for Greece. In both cases, these fears are picked up by the computer in price action, flows, and volume.
We have been warning that the broader trends in Greece since our 2012 Berlin Conference are pointing toward a Greek exiting the Euro. This will be the greatest move they can make for once that do this, the Greek economy will reverse and we will even see their share market end its bearish trend. That will set the stage for others to see things came back for Greece and they too will start to consider getting out of the Euro.
It appears that a June closing on cash below 11095 in the Euro will reflect GRexit. A month-end closing for June below 10520 level will be very bearish but the major Bearish Reversal lies down at the 10335 level.
Myth of Common Law Marriage
While the number of people living together has nearly doubled since 1981 without getting married because many are now afraid of the legal obligations of marriage, there remains a common misperception that if you live together for a certain length of time (seven years is what many people seem to believe), you are magically in a common-law marriage. This is just simply not true anywhere in the United States.
Some states recognize common-law marriages with stipulations such as proving cohabitation and a reputation of being married at bare minimum. Some states, like Alabama, recognize common-law marriages if there is 1) mental capacity; (2) an agreement to be husband and wife; and (3) consummation of the marital relationship. Other States like California do not recognize common-law marriages, but recognize civil unions or domestic partnership whereas one has rights to joint health care, estate planning and adoption benefits to unmarried couples who have registered as domestic partners. The law gives same-sex couples some of the essential resources necessary to protect their families and their relationships. You still have to pay a fee.
Had there been simply a federal law granting the privilege for two people to enter a domestic partnership with the same legal rights as marriage privileges for estates, health-care, taxes, and “family” status in hospitals, this would have solved the entire problem rather than fighting over the word definition of “marriage”. Unfortunately, it is always about money. Government is arrogant to assume they have the right to convert marriage into a “privilege” superseding all religions.
Only a few states will recognize a common law marriages, and each State has specific stipulations as to what relationships are even included:
- Alabama
- Colorado
- District of Columbia
- Georgia (if created before 1/1/97)
- Idaho (if created before 1/1/96)
- Iowa
- Kansas
- Montana
- New Hampshire (for inheritance purposes only)
- Ohio (if created before 10/10/91)
- Oklahoma (possibly only if created before 11/1/98. Oklahoma’s laws and court decisions may be in conflict about whether common law marriages formed in that state after 11/1/98 will be recognized.)
- Pennsylvania (if created before 1/1/05)
- Rhode Island
- South Carolina
- Texas
- Utah
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