Submitted by Tyler Durden on 04/09/2015 - 10:11 The Treasury flash crash and similar recent events in currency markets are "shots across the bow," Jamie Dimon says in his latest letter to shareholders. The JPM chief goes on to warn, as we have for years, that declining liquidity in credit markets is likely to exacerbate future crises: "The likely explanation for the lower depth in almost all bond markets is that inventories of market-makers’ positions are dramatically lower than in the past. For instance, the total inventory of Treasuries readily available to market-makers today is $1.7 trillion, down from $2.7 trillion at its peak in 2007. The trend in dealer positions of corporate bonds is similar."
Make sure to eat your yummy Pacific ocean fish...and don't forget that a lot of the "farmed raised Atlantic Salmon" are raised in Peru.
According to Tepco, 83,791 m3 of contaminated groundwater had been discharged to the Pacific from last May to this February.Tepco is pumping up the groundwater from “bypass wells”. The pumped water is discharged to the sea as “uncontaminated” water. However 150,000 Bq/m3 of Tritium is detected even from the weighted average sample of this February.
The monthly discharging volume was 1,202 m3 last May, however it went up to 8,255 m3 this February.
There is no exit strategy about this bypass water plan. Tepco can be discharging this level of contaminated groundwater until they complete decommissioning in decades.
Read More @ Fukushima-diary.com
Iran Dictates "Deal" Conditions To Obama, Demands All Sanctions Lifted On "Same Day"
Submitted by Tyler Durden on 04/09/2015 - 08:20 If there was any confusion whether Iran thought it had gotten the best of John Kerry and the Obama administration as a result of the non-deal April 2 "framework" announcement for some future possible deal, it can be swept away following a Reuters report that Iran will only sign a final nuclear accord with six world powers if all sanctions imposed over its disputed atomic work are lifted on the same day, President Hassan Rouhani said in a televised speech on Thursday.
The systematic destruction of the American way of life is happening
all around us, and yet most people have no idea what is happening. Once
upon a time in America, if you were responsible and hard working you
could get a good paying job that could support a middle class lifestyle
for an entire family even if you only had a high school education.
Things weren’t perfect, but generally almost everyone in the entire
country was able to take care of themselves without government
assistance. We worked hard, we played hard, and our seemingly boundless
prosperity was the envy of the entire planet. But over the past
several decades things have completely changed. We consumed far more
wealth than we produced, we shipped millions of good paying jobs
overseas, we piled up the biggest mountain of debt in the history of the
world, and we kept electing politicians that had absolutely no concern
for the long-term future of this nation whatsoever. So now good jobs
are in very short supply, we are drowning in an ocean of red ink, the
middle class is rapidly shrinking and dependence on the government is at
an all-time high. Even as we stand at the precipice of the next great
economic crisis, we continue to make the same mistakes. In the end, all
of us are going to pay a very great price for decades of incredibly
foolish decisions. Of course a tremendous amount of damage has already
been done. The numbers that I am about to share with you are
staggering. The following are 19 signs that American families are being
economically destroyed…Read More…
Presenting The "Biggest Consensus Trade, Ever"
Submitted by Tyler Durden on 04/09/2015 - 09:49
Despite Constant Saudi Bombing, Yemen Rebels Advance, Seize Key Town; Ayatollah Trolls US, Saudis on Twitter
Submitted by Tyler Durden on 04/09/2015 - 11:58 It appears that when the US inadvertantly "misplaced" $500 million of weapons in Yemen, the bulk of which fell right in Houthi rebel hands, it created a very credible adversary... for the US and its Saudi-backed coalition allies. Because despite the bombing campaign by the Saudi-headed coalition, AP reports that the rebels seized a key provincial capital in a heavily Sunni tribal area on Thursday as their patron Iran called the two-week air campaign a "crime" and appealed for peace talks. According to media reports the Houthius overran Ataq, capital of the oil-rich southeastern Shabwa province, after days of airstrikes and clashes with local Sunni tribes. The capture marked the rebels' first significant gain since the Saudi-led bombing began.
Job Cuts In Industries "Closely-Related" To Oil Likely To Triple, Goldman Says
Submitted by Tyler Durden on 04/09/2015 - 11:34 "We find that in previous oil-sector downturns, job growth in non-energy sectors that are closely related to the oil & gas industry has declined by three to four times as much as the decline in oil & gas employment itself," Goldman says, implying we're likely to see a substantial number of cuts in the months ahead.
Rich Middle Class, Poor Middle Class
Submitted by Tyler Durden on 04/09/2015 - 11:07 This great generational injustice is the direct consequence of central banks lowering interest rates to zero and inflating asset bubbles in a corrosive (and vain) attempt to generate a wealth effect of households borrowing and blowing their newly created asset wealth. In an economy that isn't whipsawed by central bank manipulation, the difference between middle class households' asset wealth is largely behavioral, not the random luck of coming of age before central banks began blowing destructive asset bubbles as a matter of policy.
Recession 2.0: Abysmal Wholesale Sales Join Factory Orders In Confirming US Economic Contraction
Submitted by Tyler Durden on 04/09/2015 - 10:37 Despite another data series revision by the Department of Commerce, there was no way to put lipstick on the pig of America's wholesale trade data, and as reported moments ago, the all important merchant sales for February dropped for 3rd month in a row in February, the longest stretch since the last recession. What's worse however, is that the annual pace of decline has now stretched over both January and February, confirming that 2015 is now officially a year of contraction for the US economy. As a reminder, every time this series suffers an annual decline, there is a recession.
Crazed Chinese Housewives Frothing At Hong Kong Bubble Euphoria
Submitted by Tyler Durden on 04/09/2015 - 09:23 “I’m staying conscious. Some people are buying stocks like they’re gambling in Macau," an investor in Hong Kong tells Bloomberg, underscoring what happens when a bubble in one market begins to spill over into another market. We suppose this is further evidence that no one is planning on listening to the China Securities Regulatory Commission, who recently warned that investors “shouldn’t be thinking if they don’t buy now, [they’ll] miss it.”
Rebutting Bernanke’s Defense Of Himself
Submitted by Tyler Durden on 04/09/2015 - 08:56 My advice to Ben Bernanke is simple. If you consider yourself a public servant, spend less time trying to concoct ways to defend your legacy, and spend more time on what you did that didn’t work, what can be learned from it, and what current policy makers can change and do better. Here is a theoretical title to a Bernanke blog post that I would like to read, but don’t think will ever get wrriten “Things I was wrong about, what I learned, and what the Fed should do differently going forward.”
Latest Weekly Initial Claims Of 281K Better Than Expected, Under 300K For Fifth Straight Week
Submitted by Tyler Durden on 04/09/2015 - 08:39 After the abysmal March payrolls number, there were expectations in the whisper forecast of today's initial claims that there would be a sizable jump in initial unemployment claims, one that may break the streak of 4 consecutive prints under 300K. It did not happen, and in fact the number which was released moments ago by the BLS indicated continued strength in the US labor market, where there was 281K initial claims in the past week, just under the 283K expected and higher than the revised 267K from last week. This is the lowest level for this average since June 3, 2000 when it was 281,500. The previous week's average was revised down by 250 from 285,500 to 285,250.
Peak Central Planning: BofA Says Fed's Dudley "Does Not Want Stocks To Decline; Wants Bond Prices To Go Down"
Submitted by Tyler Durden on 04/09/2015 - 07:51 "While Dudley clearly does not want stocks to decline a lot, he also wants to avoid meaningful increases... Also very apparent is that Dudley wants bond prices to go down – not a lot but clearly down." - Bank of America
from Gold Core:
Bank deposits in Austria will no longer enjoy state protection and a
state guarantee in the event of bank runs and a bank collapse when
legislation is enacted in July. The plan to ensure that the state is no
longer responsible for insuring deposits has been readied by the
Austrian government in conjunction with the EU two years ago according
to Die Presse.
Currently, Austrians have their bank deposits guaranteed to a value of €100,000 – the first half to be provided by the failing bank and the other by the state. From July, however, the state will be removed from the process and a special bank deposit insurance fund is to be set up and paid into by banks to meet potential shortfalls.
Read More @ GoldCore.com
from TRUTHstreammedia:
Bank deposits in Austria will no longer enjoy state protection and a
state guarantee in the event of bank runs and a bank collapse when
legislation is enacted in July. The plan to ensure that the state is no
longer responsible for insuring deposits has been readied by the
Austrian government in conjunction with the EU two years ago according
to Die Presse.Currently, Austrians have their bank deposits guaranteed to a value of €100,000 – the first half to be provided by the failing bank and the other by the state. From July, however, the state will be removed from the process and a special bank deposit insurance fund is to be set up and paid into by banks to meet potential shortfalls.
Read More @ GoldCore.com
from TRUTHstreammedia:
by Penny Starr, CNS News:
At a press briefing at the Sierra Club in Washington, D.C. on
Wednesday, former New York City Mayor Michael Bloomberg, a Democrat,
announced that he is contributing $30 million to the Club’s “Beyond
Coal” campaign, which is designed to shut down the nation’s coal plants.
The $30 million is in addition to the $50 million Bloomberg already
gave to the campaign, which has also changed its initial goal of
shutting down 1/3 of the country’s coal plants by 2020 to shuttering 50
percent of the plants by 2017.
Michael Brune, executive director of the Sierra Club, thanked the “coal fighters” who attended the event, telling them it was “because of you” that the campaign launched in 2011 has already succeeded in the “retirement” or “repurposing” of 187 coal plants in the United States.
“Beyond Coal is taking our country in the right direction,” Bloomberg said. “It’s the direction that will help our community, not hurt it, because the price of pollution and environmental damage has suffered our economy as well as our lives.”
Read More @ CNS News.com:
by Michael Krieger, Liberty Blitzkrieg:
The now-discontinued operation, carried out by the DEA’s intelligence
arm, was the government’s first known effort to gather data on Americans
in bulk, sweeping up records of telephone calls made by millions of
U.S. citizens regardless of whether they were suspected of a crime. It
was a model for the massive phone surveillance system the NSA launched
to identify terrorists after the Sept. 11 attacks. That dragnet drew
sharp criticism that the government had intruded too deeply into
Americans’ privacy after former NSA contractor Edward Snowden leaked it
to the news media two years ago.
The similarities between the NSA program and the DEA operation established a decade earlier are striking – too much so to have been a coincidence, people familiar with the programs said. Former NSA general counsel Stewart Baker said, “It’s very hard to see (the DEA operation) as anything other than the precursor” to the NSA’s terrorist surveillance.
Read More @ Libertyblitzkrieg.com
from Real Thing TV:
At a press briefing at the Sierra Club in Washington, D.C. on
Wednesday, former New York City Mayor Michael Bloomberg, a Democrat,
announced that he is contributing $30 million to the Club’s “Beyond
Coal” campaign, which is designed to shut down the nation’s coal plants.
The $30 million is in addition to the $50 million Bloomberg already
gave to the campaign, which has also changed its initial goal of
shutting down 1/3 of the country’s coal plants by 2020 to shuttering 50
percent of the plants by 2017.Michael Brune, executive director of the Sierra Club, thanked the “coal fighters” who attended the event, telling them it was “because of you” that the campaign launched in 2011 has already succeeded in the “retirement” or “repurposing” of 187 coal plants in the United States.
“Beyond Coal is taking our country in the right direction,” Bloomberg said. “It’s the direction that will help our community, not hurt it, because the price of pollution and environmental damage has suffered our economy as well as our lives.”
Read More @ CNS News.com:
by Michael Krieger, Liberty Blitzkrieg:
The now-discontinued operation, carried out by the DEA’s intelligence
arm, was the government’s first known effort to gather data on Americans
in bulk, sweeping up records of telephone calls made by millions of
U.S. citizens regardless of whether they were suspected of a crime. It
was a model for the massive phone surveillance system the NSA launched
to identify terrorists after the Sept. 11 attacks. That dragnet drew
sharp criticism that the government had intruded too deeply into
Americans’ privacy after former NSA contractor Edward Snowden leaked it
to the news media two years ago.The similarities between the NSA program and the DEA operation established a decade earlier are striking – too much so to have been a coincidence, people familiar with the programs said. Former NSA general counsel Stewart Baker said, “It’s very hard to see (the DEA operation) as anything other than the precursor” to the NSA’s terrorist surveillance.
Read More @ Libertyblitzkrieg.com
from Real Thing TV:
from KingWorldNews:
SAUDI ARABIA’S recently enthroned King Salman pulled off a striking
diplomatic coup last month when he gathered a ten-country coalition of
Sunni states to bomb the upstart Shia rebels in Yemen known as Houthis.
Even Qatar and the United Arab Emirates, rivals in regional politics,
put aside their differences to confront a perceived Iranian proxy. Egypt
sent planes and ships. Countries as far apart as Morocco and Pakistan
pledged help, too.
Saudi Arabia is usually shy about speaking loudly and taking part in military action. Its uncharacteristic assertiveness may be a sign of the influence of the new king’s son and defence minister, Muhammad, who is in his 30s. Sunni states no doubt want to draw a line against further encroachment by Iran, which exerts strong influence in Iraq, Syria and Lebanon. But Saudi Arabia, which treats the Arabian peninsula as its backyard, is particularly sensitive about trouble in Yemen.
Art Cashin continues @ KingWorldNews.com
from JayTaylorMedia:
SAUDI ARABIA’S recently enthroned King Salman pulled off a striking
diplomatic coup last month when he gathered a ten-country coalition of
Sunni states to bomb the upstart Shia rebels in Yemen known as Houthis.
Even Qatar and the United Arab Emirates, rivals in regional politics,
put aside their differences to confront a perceived Iranian proxy. Egypt
sent planes and ships. Countries as far apart as Morocco and Pakistan
pledged help, too.Saudi Arabia is usually shy about speaking loudly and taking part in military action. Its uncharacteristic assertiveness may be a sign of the influence of the new king’s son and defence minister, Muhammad, who is in his 30s. Sunni states no doubt want to draw a line against further encroachment by Iran, which exerts strong influence in Iraq, Syria and Lebanon. But Saudi Arabia, which treats the Arabian peninsula as its backyard, is particularly sensitive about trouble in Yemen.
Art Cashin continues @ KingWorldNews.com
from JayTaylorMedia:
![[Most Recent Quotes from www.kitco.com]](http://www.kitconet.com/charts/metals/gold/t24_au_en_usoz_2.gif)
![[Most Recent Quotes from www.kitco.com]](http://www.kitconet.com/charts/metals/silver/t24_ag_en_usoz_2.gif)
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