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Chinese stocks crash overnight: Is another "glitch" in the New York Stock Exchange coming?

Pam Martens and Russ Martens
Wall Street on Parade
Mon, 27 Jul 2015 00:00 UTC
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Despite unprecedented efforts by the Chinese government to stem the rout in the Chinese stock market that had shaved as much as $4 trillion from share prices before the government's interventions this month and last, the Shanghai Composite closed down 8.48 percent today at 3,725.558.

The overnight rout has raised speculation in some quarters as to whether we are going to see another "glitch" on the New York Stock Exchange today similar to that of July 8 in the midst of another Chinese stock market tumble. As we reported at the time:

Comment: See also:

Trading on New York Stock Exchange shut down due to 'computer glitch'; Airline grounds flights due to 'technical issues'

Chinese stock plunge leaves state media speechless

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Bomb

Best of the Web: Global derivatives are the $1.5 Quadrillion time bomb that might yet 'destroy Western civilization'

Stephen Lendman
Global Research
Tue, 28 Jul 2015 14:39 UTC
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When investing becomes gambling, bad endings follow. The next credit crunch could make 2008-09 look mild by comparison. Bank of International Settlements(BIS) data show around $700 trillion in global derivatives.

Along with credit default swaps and other exotic instruments, the total notional derivatives value is about $1.5 quadrillion - about 20% more than in 2008, beyond what anyone can conceive, let alone control if unexpected turmoil strikes.

The late Bob Chapman predicted it. So does Paul Craig Roberts. It could "destroy Western civilization," he believes. Financial deregulation turned Wall Street into a casino with no rules except unrestrained making money. Catastrophic failure awaits. It's just a matter of time.

Ellen Brown calls the "derivatives casino...a last-ditch attempt to prop up a private pyramid scheme" - slowly crumbling under its own weight.

For years, Warren Buffett called derivatives "financial time bombs" - for economies and ordinary people.

Comment: It's a big house of cards that could come down at any moment. When it does life in the West will change dramatically. Check out:

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Star of David

Israel conducting large scale emergency-readiness war drills


RT
Mon, 27 Jul 2015 21:52 UTC
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© Baz Ratner / Reuters
Large-scale military drills have been launched in Israel with the aim of testing the IDF's readiness to go into emergency mode. Hundreds of thousands of reserve soldiers are involved in testing the system.

They will all be receiving a telephone call to confirm everything is in working order, according to the General Staff's plan for the drills, set to last for three days.

Thousands of others will be summoned to bases on short notice, according to the Jerusalem Post. An IDF source told the newspaper that this is "one of the largest telephone call-ups we've had in an exercise."

"We want to ensure that the system is well-oiled and working."

Comment: There seems to be a marked increase in military drills and war games across the globe. Is this for preparations that something big is about to happen?

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Bad Guys

Islamic State leader approves beheading of woman as wedding present


RT
Mon, 27 Jul 2015 21:34 UTC
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© Muzaffar Salman / Reuters
Islamic State leader Abu Bakr al-Baghdadi approved a beheading of a woman as a wedding gift for a female religious judge, a defector from the terrorist group told Daily Mail in an exclusive interview, also describing other atrocities committed by the militants.

A female Sharia judge, who lost her husband in a fighting and had to marry again under Islamic State (IS, formerly ISIS/ISIL) law, demanded to kill an "infidel" - an unbeliever - as a present for her wedding, the interview reveals.

The Group's leader al-Baghdadi allegedly satisfied her request, although, insisting she could claim only the life of another woman as affairs between men and women are strictly segregated in the Islamic State.

Comment: The Islamic State is a deadly trap luring people with romantic ideals and then adding them to the brutal killing machine.

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Handcuffs

Native American civil rights activist found dead in Mississippi jail cell


RT
Mon, 27 Jul 2015 21:15 UTC
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© Brendan McDermid / Reuters
The Mississippi Bureau of Investigation is probing the mysterious death of Rexdale W. Henry, who was found dead in the Neshoba County Jail on July 14. A private autopsy funded by prominent activists is underway.

Henry, a member of the Choctaw tribe and a longtime community activist, was found dead of unspecified causes in a jail cell on July 14 about 30 minutes after he was last seen alive. He was first detained on July 9 after failing to pay a traffic fine, according to the Jackson Free Press. He was the second person this year to die in the Neshoba County Jail.

The Mississippi state crime lab has conducted an autopsy, while the Mississippi Bureau of Investigation continues its look into how Henry, 53, lost his life in a jail of the same county known for the Mississippi Burning murders more than 50 years ago.

Comment: With all of these deaths of minorities by police and in jails lately really makes one wonder if these are provocations to stir societal unrest.

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Network

Predators in power: Porn websites visited 250,000 times on UK Parliament computers


RT
Mon, 27 Jul 2015 20:48 UTC
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© Stefan Wermuth / Reuters
Over 247,000 attempts were made to visit X-rated websites from the UK Parliament's computer network last year, with the numbers spiking during parliamentary recess in April, a Freedom of Information (FOI) request has revealed.

Attempts to access more than 42,000 sites classed as pornographic were made during April alone last year, totaling more than 1,300 each day.

The Freedom of Information request by the Daily Express found the second most active month was October 2014, where there were more than 30,000 attempts to access porn sites.

The figures don't show which sites were accessed or how long was spent on the pages.

The findings add to the previous total of 350,000 in 2013.

Comment: Whatever it takes to keep the children safe?

You can start by resigning and locking up the entire shower of predators-in-power.

Which won't happen of course.

Why is it that people accept monsters for leaders?

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Evil Rays

SOTT Focus: 80% of French citizens want a good relationship with Russia

Harrison Koehli
Sott.net
Mon, 27 Jul 2015 15:55 UTC
hollande putin
Hollande would be a lot more popular if he did more of the above, and less of what his masters tell him to do.
A group of renegade French MPs recently stunned the world (or at least the few who noticed) by visiting Crimea, thus demonstrating that said MPs are not completely spineless. Crimea, of course, is that alleged victim of an odious, brutal and illegal Russian takeover and military occupation. The poor Crimeans supposedly were forced at the barrel of a gun to vote for joining the Russian Federation, in an un-democratic practice that history would do well to forget, lest large powers get it in their minds that the will of the people can be so shamefully manipulated.

It's all nonsense of course. The reunification of Crimea with Russia was one of the shamefully rare examples of real democracy in generations; it wasn't violent (like Maidan), it wasn't coerced (like Maidan), and there is no military occupation (like Maidan). And the two-day delegation of French MPs to Crimea led by French National Assembly member Thierry Mariani showed just that. Naturally, this raised the ire of his colleagues in the French government.
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Che Guevara

Varoufakis is an EU nightmare: an expert economist who actually believes in representative democracy

Paul Tyson
OpenDemocracy
Fri, 24 Jul 2015 17:24 UTC
Yanis Varoufakis
© Demotix/spirofotoYanis Varoufakis
Varoufakis is an exception to the norm precisely because he really believes in representative democracy.

Over the past few months the world has witnessed the short career of a Greek government vainly endeavouring to uphold an anti-austerity platform against the implacable power of the Eurozone's financial institutions. Yanis Varoufakis, the former Greek Minister for Finance, was a central player in this drama. Interestingly, this political maverick did not play his part to the standard script. The distinctive characteristics of Varoufakis' mode and purpose in politics are both troubling as regards what they tell us about the norms of contemporary politics, and fascinating as a possible paradigm for a new type of politics in the age of twitter and the blog.

Strangely, one of the most disturbing aspects of Varoufakis' stint as a Finance Minister concerns the fact that he is an economist. One thing we now readily assume is that economics is the language of power. This gives academic economists a status somewhat like a theologian in relation to the practical priestcraft of public office. However, there are very few professors of economics that actually get into office as politicians, just as you seldom get institutionally savvy bishops or mega-church leaders who are serious theologians. When an economist becomes a politician, this is going to be interesting.

In a few short months, Varoufakis completely exploded the idea that economics is the language of power. What we saw when an actual economist landed in the middle of the Eurozone crisis is that the most basic truths about economic reality have nothing to do with power. The idea that asphyxiating Greek banks and killing the Greek state is good for its economy makes no economic sense at all. The idea that continuing to pursue a savagely contractile austerity agenda will make it possible to generate sustained state surpluses large enough to repay impossible debt burdens, defies any sort of economic rationality. The conviction that it is somehow both moral and necessary to fiscally execute the Greek polity or eject Greece in order to preserve the financial integrity of the Eurozone, is not a stance grounded in economic science.
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Snakes in Suits

The Kagans: Seeking war to the end of the World

Robert Parry
Ron Paul Institute
Thu, 23 Jul 2015 13:44 UTC
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If the neoconservatives have their way again, US ground troops will reoccupy Iraq, the US military will take out Syria's secular government (likely helping Al Qaeda and the Islamic State take over), and the US Congress will not only kill the Iran nuclear deal but follow that with a massive increase in military spending.

Like spraying lighter fluid on a roaring barbecue, the neocons also want a military escalation in Ukraine to burn the ethnic Russians out of the east, and the neocons dream of spreading the blaze to Moscow with the goal of forcing Russian President Vladimir Putin from the Kremlin. In other words, more and more fires of Imperial "regime change" abroad even as the last embers of the American Republic die at home.

Comment: This pursuit of war and violence by the neocons is really sickening. We need to stop listening to these non-humans if we ever want peace in our world.

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Bad Guys

Turkey asks for NATO session during Syraq bombing campaign


RT
Mon, 27 Jul 2015 13:16 UTC
siria Syria
© REUTERS/ Amer Almohibany

After launching a second wave of airstrikes against the positions of Kurdistan Workers' Party (PKK) militants, effectively ending a fragile two-year truce, Turkey has announced that it is calling a NATO meeting next week to discuss regional security concerns.

Ankara sent bombers on a mission for a second night on Sunday to annihilate logistics positions, warehouses, barracks and PKK bases in northern Iraq. Ankara has claimed it is retaliation for PKK attacks against security forces and police last week. The country has subsequently called a NATO meeting to discuss its security concerns not only about Islamic State (IS, formerly ISIS/ISIL) but the PKK as well.

Four Turkish F-16 fighters took off from the Diyarbakir air base and hit PKK targets in Hakurk in northern Iraq, the sources told Reuters. Local media reports confirmed the airstrikes.

Comment: It looks like visions of "Greater Israel" and Washington's "Empire of Chaos" have been rubbing off on pathologicals in power in Saudi Arabia, Turkey, and Germany. Everyone's out for blood now.

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