Implode-Explode Heavy Industries news feed http://implode-explode.com/ Tracking the many faces of the global credit implosion. You can pull sub-categories from this feed by adding a ?tags=a,b,c,... style parameter. The category tags (which can be given as numbers or handles) are : id handle category description 1 housing_finance "Housing Finance News/ML-Implode Main" 2 hedge_funds "Hedge Funds News" 3 fed "The Fed, Central Banking and fin. reg." 4 foreclosures "Foreclosures (News)" 5 chavez "Hugo Chavez Watch (News)" 6 builders "Home Builders News" 7 banks "Banks News" 8 credit_bubble "Credit Bubble and Crash (News)" 9 peak_oil "Peak Oil and Energy Security (News)" 10 BRIC_v_us "BRIC countries vs. U.S. (News)" 11 gov_bk "Government Bankruptcy (News)" 12 mediawatch "Mainstream Media Watch" 13 Our commentary "IEHI Original Commentary" 14 rebalancing "Economic Rebalancing (News)" 15 pm "Precious Metals News" 16 inflation "Inflation and Deflation News" 17 nr "Natural Resources News" 18 consumer "Consumer Capitulation/Issues and Populism" 20 pe "Private Equity Implosion (News)" 21 recession "Recession/depression News" 22 ML_implosion "Mortgage Lender IMPLOSIONS" 23 HF_implosion "Hedge Fund IMPLOSIONS" 24 HB_implosion "Home Builder IMPLOSIONS" 25 Bank_implosion "Bank IMPLOSIONS" 26 ML_update "Mortgage Lender UPDATES" 27 HF_update "Hedge Fund UPDATES" 28 HB_update "Home Builder UPDATES" 29 Bank_update "Bank UPDATES" 30 RFWS "Radio Free Wall Street" 31 FHA "FHA and Mtg Regulation (News)" 32 martial_law "Martial Law/Big Brother/NWO Watch" 33 pension "Retirement Implosion (News)" 34 mtgindustry "Mortgage Industry (News)" 35 econlists "Econ insider lists" 36 iehi_fb "IEHI facebook feed" 37 robin_fb "robin facebook" 38 IEHItwitter "IEHI Twitter Feed" 39 ak_linkedin "akrowne LinkedIn (mtg industry)" en-us iehi-feed-57143 Mon, 06 Jul 2015 14:51:26 GMT Greece votes No -- now what? http://implode-explode.com/viewnews/2015-07-06_GreecevotesNonowwhat.html But despite predictions by Greek ministers that a new bailout deal could be just days away, other than Mr Macron and his French colleagues, there are few elsewhere in the eurozone who predicted a resounding No would lead to much more than continued stalemate. If that is the result of overwhelming rejection of creditors' terms, it would mean a slow march to Greece exiting the eurozone.

...

The key date in the crisis is now July 20, when Greece owes €3.5bn on a bond held by the ECB. If Athens defaults on that bond, it would be almost impossible for the ECB to continue accepting collateral from Greek banks, and the €89bn in emergency liquidity assistance (ELA) would be withdrawn, devastating Greece's banking sector.

...

Greece could be left in limbo for months, circulating a parallel currency while technically still in the eurozone. EU lawyers have already been working overtime to figure a way out of that dilemma.

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iehi-feed-57142 Mon, 06 Jul 2015 14:42:59 GMT What Are the Geostrategic Implications of a Grexit? http://implode-explode.com/viewnews/2015-07-06_WhatAretheGeostrategicImplicationsofaGrexit.html iehi-feed-57141 Mon, 06 Jul 2015 14:36:00 GMT Yanis Varoufakis: why bold, brash Greek finance minister had to go http://implode-explode.com/viewnews/2015-07-06_YanisVaroufakiswhyboldbrashGreekfinanceministerhadtogo.html Varoufakis may have been forced to leave frontline politics, but he does so hugely vindicated by the historic no vote delivered by Greeks on Sunday. There are few in Athens today who don't believe he is also a victim of his own success... The morning after, he had to go.

...

Ever the maverick, Varoufakis is unlikely to vanish overnight. Although never a member of the ruling Syriza party, he remains an MP and, very possibly, will continue to influence Tsipras behind the scenes. There are few who doubt he will also be working on an unexpurgated version of the euro crisis, Varoufakis style.

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iehi-feed-57140 Mon, 06 Jul 2015 13:17:52 GMT Thomas Piketty: "Germany has never repaid its debt" http://implode-explode.com/viewnews/2015-07-06_ThomasPikettyGermanyhasneverrepaiditsdebt.html iehi-feed-57139 Sun, 05 Jul 2015 23:41:04 GMT After Resounding "No" At Polls, Eurozone Central Bank Now Controls Destiny of Greece's Battered Banks http://implode-explode.com/viewnews/2015-07-05_AfterResoundingNoAtPollsEurozoneCentralBankNowControlsDestinyofG.html A resounding ‘no' from Greece (Washington Post).]]> iehi-feed-57138 Sun, 05 Jul 2015 17:47:01 GMT China's Market Rout Is a Double Threat http://implode-explode.com/viewnews/2015-07-05_ChinasMarketRoutIsaDoubleThreat.html iehi-feed-57137 Sun, 05 Jul 2015 17:31:36 GMT Quartet of crises threatens Europe's core http://implode-explode.com/viewnews/2015-07-05_QuartetofcrisesthreatensEuropescore.html iehi-feed-57136 Sun, 05 Jul 2015 15:40:10 GMT Greek Default Would Nuke Entire European Sovereign Market http://implode-explode.com/viewnews/2015-07-05_GreekDefaultWouldNukeEntireEuropeanSovereignMarket.html [The ESM] loaned Greece €145 billion. If Greece defaults, the ESM, a Luxembourg corporation owned by the 19 European Monetary Union governments, will have to declare loans to Greece as nonperforming within 120 days. Accounting rules and regulators insist that financial institutions write off nonperforming assets in full, charging losses against reserves and hitting capital...

How do you get a triple-A rating on a bond backed entirely by loans to junk-rated sovereign borrowers? Well, the governments guarantee the bonds, and because they are unfunded off-balance-sheet liabilities, they aren't counted in their debt burdens--unless borrowers default... The strength of these guarantees is untested. Would the German Bundestag vote tomorrow to raise €35 billion by selling Bunds, the government debt, to cover Germany's share of ESM losses on Greek bonds? That seems improbable...

A hard default would produce other losses to be covered. The ECB would have to be recapitalized after it writes off the €89 billion it has loaned the Greek banks to keep them liquid. The ECB would need to call for a capital contribution from its shareholders--the governments.

And don't forget that Greek banks owe the Target2 bank clearinghouse, a key link in the interbank payment system, an estimated €100 billion. The governments are on the hook to make good that shortfall, too. The cash required to cover these contingencies would have to be funded with new bond sales.

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iehi-feed-57135 Sun, 05 Jul 2015 14:41:54 GMT Whistleblower Andrew Maguire Says Gold Short-Selling Racket Running Out of Physical http://implode-explode.com/viewnews/2015-07-05_WhistleblowerAndrewMaguireSaysGoldShortSellingRacketRunningOutof.html iehi-feed-57134 Sun, 05 Jul 2015 14:40:22 GMT China Official Lets Slip That Gold Reserves Almost 10,000 tonnes http://implode-explode.com/viewnews/2015-07-05_ChinaOfficialLetsSlipThatGoldReservesAlmost10000tonnes.html iehi-feed-57133 Sun, 05 Jul 2015 13:55:08 GMT China Creates Its Own Plunge Protection Team http://implode-explode.com/viewnews/2015-07-05_ChinaCreatesItsOwnPlungeProtectionTeam.html iehi-feed-57132 Sun, 05 Jul 2015 13:53:01 GMT Greeks Head To Polls With "No" Camp In Lead http://implode-explode.com/viewnews/2015-07-05_GreeksHeadToPollsWithNoCampInLead.html iehi-feed-57131 Sun, 05 Jul 2015 01:55:35 GMT China spends billions to prevent stock market crash http://implode-explode.com/viewnews/2015-07-04_Chinaspendsbillionstopreventstockmarketcrash.html iehi-feed-57130 Sat, 04 Jul 2015 15:54:24 GMT Mexico Silver Production Down A Stunning 12%; Shortages Could Develop Within The Year http://implode-explode.com/viewnews/2015-07-04_MexicoSilverProductionDownAStunning12ShortagesCouldDevelopWithin.html iehi-feed-57129 Sat, 04 Jul 2015 14:47:38 GMT Stop lying to the Greeks -- life without the euro is great http://implode-explode.com/viewnews/2015-07-04_StoplyingtotheGreekslifewithouttheeuroisgreat.html iehi-feed-57128 Sat, 04 Jul 2015 14:40:05 GMT Good On You, Greece----But Don't Waver Now (Part 2) | Stockman http://implode-explode.com/viewnews/2015-07-04_GoodOnYouGreeceButDontWaverNowPart2Stockman.html iehi-feed-57127 Sat, 04 Jul 2015 14:36:12 GMT Greece's Yanis Varoufakis prepares for economic siege as companies issue private currencies http://implode-explode.com/viewnews/2015-07-04_GreecesYanisVaroufakispreparesforeconomicsiegeascompaniesissuepr.html iehi-feed-57126 Sat, 04 Jul 2015 00:21:45 GMT Major Retail Gold Bullion Dealer Can't Get Gold; Suspends Operations (AND OTHER TIMELY PM'S MARKET PUZZLES...) http://implode-explode.com/viewnews/2015-07-03_MajorRetailGoldBullionDealerCantGetGoldSuspendsOperationsANDOTHE.html iehi-feed-57125 Sat, 04 Jul 2015 00:17:03 GMT China Tells Investors: Go Ahead, Bet the House on Stocks http://implode-explode.com/viewnews/2015-07-03_ChinaTellsInvestorsGoAheadBettheHouseonStocks.html iehi-feed-57124 Sat, 04 Jul 2015 00:16:13 GMT Panic sets in as Shanghai Composite drops 30pc, $3.7 trillion wiped of China share market despite crackdown http://implode-explode.com/viewnews/2015-07-03_PanicsetsinasShanghaiCompositedrops30pc37trillionwipedofChinasha.html