North Korea Attacks South Korea Yellow Sea Island, South Korea On Highest Non-Wartime Alert In Response, USDJPY Goes Parabolic

 

Korean Update, In Which We Learn That The North Threatens With Many Additional Attacks

 

• Goodbye reserve currency: Yuan begins trading against the rouble (China Daily) this is big news
• US has no good options over North Korean clash (FT)
• South Korea Prepared to Implement Market-Stability Measures After Shelling (Bloomberg)
• Focus Shifts to China as North Korea Tensions Escalate (Reuters)
• China Inflation `Volcano' May Prove Too Hot for Controls After Cash Surge (Bloomberg)
• Growth in Thailand, Malaysia Slows, Heralding Caution in Asian Rate Moves (Bloomberg)
• Irish PM Defiant as Coalition Cracks (FT)
• IMF urges cuts in Irish minimum wage and dole payments (Irish Times)

 

On That Accelerating Irish Bank Run...

 

Flight To Golden Safety

 

European Bloodbath Intensifies As Spanish Bond Yield Hits All Time Highs, EURUSD On Verge Of Going Bidless

 

De Minimis POMO Ends As Sack Buys $1.6 Billion In TIPS; PDs Found Lacking In Cash As $210 Million Of November TIPS Auction Put Back

 

The End Of The Dollar Carry Trade? Presenting The Dollar Short Panic In A Burning Theater

 

Inflating The Debt Away
By: Steven Saville, Speculative Investor



Does the Fed Create Money?
By: Michael Pento