Proverbs 22:3 NLT

A prudent person foresees danger and takes precautions. The simpleton goes blindly on and suffers the consequences.

-- (((Charles Finney, said the following: “If
there is a decay of conscience, the pulpit is responsible for it))) --


THOSE WHO WILL DO NOTHING NOW, WHEN IT COSTS THEM LITTLE - WILL DO EVEN LESS LATER, WHEN IT COST THEM EVEN MORE


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X22 Report is a daily show that will cover issues surrounding the economic collapse

Saturday, July 12, 2014

While Argentina celebrates, government quietly slides towards default. Again. / Hot spot: Yellowstone road melts, closing sites / Genius: IMF pronounces Bulgaria’s banks safe just two weeks before bank run / WINTER BLAST IN JULY! / Stranding 1,300 Migrants Headed Toward USA... / Armed militia sets up Texas command center to 'fight for national sovereignty'... - CLAIM: Deportation agency will be broke by mid-September... / Militia Action Alert! Groups Gathering In Laredo Texas to 'Put Up A Man-Fence'! / Outrage! Feds Paying Up To '$1,000 Per Bed For Illegal Aliens'! / Israel-Hamas War, Portugal Bank Default, Obama Ignores Immigrant Flood / Headline Act: Lord And Savior Obama / ◾Alert: FEMA camps to pop-up up like wildflowers nationwide under new DoD authorization / Muslim Prayer Rug Found on Arizona Border by Independent American Security Contractors / JULY FREAK: CHICAGO BRACES FOR RECORD LOW TEMPS / Mexico Looks To Back Peso With Silver: “Would Unleash a Global Power Shift” / ◾Israeli troops mass on Gaza border in preparation for ground attack after airstrikes hit mosque 'that was hiding Hamas weapons' / ◾Federal agents swarm Livingston, Ill. Landed blackhawks in school yard and multiple amrored vehicles-let the kids see em etc. but they were 'staging for a raid ? didn't even let the school superintendent know they were using his school yard,this is cond / THE U.S. IS BEING INFILTRATED BY PARAMILITARY FORCES AND TERRORISTS ARMED WITH WMD’S

Argentina
While Argentina celebrates, government quietly slides towards default. Again.
July 11, 2014
En route to Batumi, Georgia

The first recorded sovereign default was in the 4th century BC when ten Greek cities failed to honor loans from the temple of Delos.

Most of the borrowers could not pay back what they owed and the temple took an 80% loss on its principal.

(Clearly they did not have Janet Yellen or Ben Bernanke to print money and bail out the system…)

As the saying often attributed to Mark Twain goes, “History doesn’t repeat itself but it often rhymes.”

Sometimes history rhymes with surprising frequency.

Argentina has made a long habit of defaulting on their obligations; it’s happened 7 times in the last 200 years.

And now, just 13 years after their last default, there's serious risk they’ll do so again.

Back in 2001, the Argentine economy all but collapsed. In a matter of days, the country went from mild recession to full-blown economic crisis.

The currency went into freefall. Police were out in the streets shooting protestors. Unemployment and crime rates soared overnight. And the nation defaulted on its debt—a record amount at the time.

Since then, they’ve worked out arrangements to gradually repay most of the bondholders about 30 cents on the dollar, and they’ve already started making interest payments.

But a small minority of bondholders refused that offer. They’re called ‘holdouts’. And they want more.

These holdouts have now been handed a major legal victory from none other than the US Supreme Court (the bonds were written under US law, so technically US courts have jurisdiction).

The decision prohibits Argentina from making any further interest payments to the bondholders they’ve already agreed with until they reach a settlement with the holdouts.

The last payment was due on June 30, so Argentina is already past due.

They have a 30-day grace period to resolve the matter, otherwise the nation will be in default once again.

Candidly, there’s no good way out of this.

Argentina’s economy is in recession again. Foreign reserves are drying up.

And even though the government claims tax revenues are rising, Argentina’s legendary inflation has caused the peso to depreciate by 20% against the dollar so far this year.

So on a US-dollar basis, tax revenues are falling.

There’s no good way out of this for Argentina.

If they reach a deal with the holdouts, it will take a nasty chunk of money out of their reserves.

More importantly, the RUFO clause (Rights Under Further Offers) means that if Argentina DOES reach a settlement with the holdouts, everyone else can line up for the same deal.

That could cost north of $100 BILLION, over 20% of GDP. They simply don’t have the money.

Yet if they don’t reach a deal with the holdouts, they’ll be in default in just three weeks’ time.

Either way, it likely means a fresh round of desperate measures—capital controls, price controls, and credit controls.

Most people in the country are too distracted with the national team’s World Cup performance to notice.

But ignoring the problem doesn’t make it go away. Sooner or later reality bites.

Bear in mind, Argentina was one of the wealthiest countries in the world a century ago-- strong and stable with vast natural resources.

These things change. And the warning signs are all there.

The objective data tells us that Argentina is bankrupt… in the same way that the objective data tells us that most of the West is bankrupt.

Most of the West has borrowed far more than they’re credibly able to pay back; the US, France, Spain, etc. all have to borrow money just to pay interest on the money they’ve already borrowed.

In light of this data, it’s imperative to make sure that you’re not tied to a single system, a single bankrupt nation.

If you live, work, bank, invest, own real estate, operate a business, etc. all in the same country, you are essentially betting your entire livelihood on that one country.

Again, given the data, that’s quite a risk to be taking.

Spreading a portion of your assets and savings across healthy jurisdictions substantially reduces this risk.

If the worst happens—default, capital controls, price controls, bank failures, substantial inflation, etc. then your life won’t be turned upside on the whims of some politician.

Yet even if none of the darkest scenarios come true, you won’t be worse of for having taken these steps.

What’s paramount is to prepare and have options before you need them, and not end up scrambling when disaster strikes. At that point, it will be far too late.


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Firehole Lake Drive has been temporarily closed due to road surface damage caused by underground heat.
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Bulgaria
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Russian long-range aviation bases are increasing their presence in the Arctic, the press service of the Eastern Military District reported Thursday. “The crews of Tupolev Tu-95MS strategic bombers at the Arctic long-range aviation base in Amur Region, have tripled their flying rate this year. By performing these tasks, the crews gain valuable experience in offline
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cliven-bundy-confrontation-5d93c1e9310b477d
BLM won’t back up claim rancher Cliven Bundy owes $1 million UPDATE: The BLM late Thursday provided a few additional details about its dealings with Cliven Bundy. Nevada rancher Cliven Bundy kept more than his cattle when he and his armed militia supporters from Oregon and elsewhere recently backed down the U.S. Bureau of Land Management. BLM officials say he also kept $1 million he owes for grazing without
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ChasePrideIS

Chase Bank Has Pattern Of Partisanship On LGBT Issues The recent exposé of the employee survey that asked probing questions about employee support for the “LGBT community” has focused attention on something that the typical depositor might not be aware of, and that is the massive time and attention JP Morgan Chase lavishes on the LGBT issue. Four years ago JP Morgan Chase told a local
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Baptist church ordains transgender woman A transgender woman who attended George W. Truett Theological Seminary and pastored a church in Central Texas as a man has returned to the pulpit. Allyson Robinson began June 23 as transitions pastor at Calvary Baptist Church in Washington. The calling is temporary — helping with preaching, mentoring and pastoral care duties along with the
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At a press conference Thursday, Sen. Chuck Schumer (D-N.Y.) said people with religious beliefs who disagree with the ObamaCare contraception mandate can choose their faith or “you don’t have to form a corporation.” “You’re born with a religion or you adopt a religion. You have to obey the precepts of that religion and the government
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Armed Militia Set Up Texas Command Post! Fight For National Sovereignty Begins!









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Militia Action Alert! Groups Gathering In Laredo Texas to 'Put Up A Man-Fence'!

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Outrage! Feds Paying Up To '$1,000 Per Bed For Illegal Aliens'!

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Israel-Hamas War, Portugal Bank Default, Obama Ignores Immigrant Flood

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Headline Act: Lord And Savior Obama

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EPA Tramples 800 Years of Recognized Rights

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The three Type 094 Jin-class ballistic missile submarines stationed at Yulin naval base of Hainan island. (Internet photo)
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WHO warns HIV 'exploding' among gay men, urges preventive drugs
"We are seeing exploding epidemics," warned Gottfried Hirnschall, who heads WHO's HIV department. Infection rates are rising again among men who have sex with men -- the group at the epicentre of AIDS pandemic when it first emerged 33 years ago, he told reporters in Geneva.
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Senators Propose Bill to Reverse Hobby Lobby Decision and Reinstate Abortion Pill Mandate
Two Democratic senators introduced a bill yesterday that would reverse last week’s historic Hobby Lobby Supreme Court decision and force all corporations to provide abortion-inducing drugs to their employees.
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GOP Congressman: ‘We Just Filed a Resolution Directing the Sergeant-at-Arms to Arrest Lois Lerner for Contempt’
Rep. Steve Stockman (R-Texas) announced on Thursday that he has filed a resolution directing the House sergeant-at-arms to “arrest Lois Lerner for contempt of Congress” over the IRS targeting scandal.
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'Heavy Ukrainian losses' as rebels fire rockets in east
Pro-Russian separatists have fired a big barrage of Grad rockets at Ukrainian troops in the eastern region of Luhansk, killing as many as 30, Ukrainian officials say. Russian Grad rockets are classed as heavy artillery weapons, fired in batches from trucks. Unconfirmed reports put the Ukrainian death toll as high as 30, with dozens more wounded, near Zelenopillya.
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Virus detected in baby 'cured' of HIV
A Mississippi baby scientists said was "functionally cured" of HIV now has detectable levels of the virus in her blood, 27 months after being taken off antiretroviral drugs, her doctors say.
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Leaked DHS Report Reveals Obama Admin Deception on Border Crisis
Breitbart - A leaked internal Department of Homeland Security (DHS) report from U.S. Immigration and Customs Enforcement (ICE) indicates that recent public assertions made by the Administration were at best half-truths regarding the deportations and motivations of the waves of minors illegally entering the United States.
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The CDC and HHS Are Planning for Mass Casualties in the United States
Dave Hodges - I am presently vacationing at Ground Zero, the location of the greatest pandemic threat in American history and it is all related to unscreened immigrants.
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Ted Cruz: Democrats Vote to Ban Books, Repeal First Amendment
Paul Joseph Watson - Senator Ted Cruz renewed his verbal assault against a campaign finance amendment during a judiciary committee hearing on Capitol Hill today, warning that the proposal would serve to repeal the First Amendment and empower Congress to ban books and movies.
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Gun Confiscation Begins in New York?
Paul Joseph Watson - Second amendment activists are expressing concern that authorities in New York state have begun moving towards mass gun confiscation after a man had all his firearms seized by police over a 15-year-old misdemeanor charge.
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Banker Suicides Return: JPMorgan Executive "Blasts Wife, Kills Self" With Shotgun
Zero Hedge - In what appears to the 15th financial services executive suicide this year, yet another JPMorgan Director took his own life.... Julian moved to the United States from London in 2010 and was working at JP Morgan's Global Network Operations Center in Whippany, New Jersey, at the time of the tragedy.
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Marine Sgt. Andrew Tahmooressi Denied Freedom by Mexican Judge
XRepublic.TV - A Mexican federal judge sent Andrew Tahmooressi back to prison after the U.S. Marine sergeant made his first official courtroom appearance since being locked up more than three months ago for accidentally crossing the border with guns in his pickup truck.
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Purslane: Don’t Mow It. Eat it.
Off the Grid News - There is very good reason, at least from a nutritional perspective, as to why purslane deserves more respect than it often gets. This herb contains alpha-linolenic acid, a much-researched and sought-after omega-3 fatty acid. In fact, purslane has about five times the amount of omega-3 fatty acid that spinach has and its stems are rich in vitamin C.
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Border Crisis Exposed! Mexico Made Deal To Safely Transport Illegals to U.S. Border!

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Gun Confiscation Has Officially Begun In NY

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Alert: FEMA camps to pop-up up like wildflowers nationwide under new DoD authorization
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mexico-border-fence

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