Thursday, October 22, 2015

"Proxy" War No More: Qatar Threatens Military Intervention In Syria Alongside "Saudi, Turkish Brothers"

"Anything that protects the Syrian people and Syria from partition, we will not spare any effort to carry it out with our Saudi and Turkish brothers, no matter what this is. If a military intervention will protect the Syrian people from the brutality of the regime, we will do it."


from Breitbart:

The whopping €3 billion inducement negotiated between Turkey and German Chancellor Angela Merkel is already being sneered at by the Turkish government, with the country’s Prime Minister Ahmet Davuto─člu stating in an interview that he didn’t intend for his country to become a “concentration camp” for migrants either – implying the nation will not stop migrants going to Europe.
The deal, struck last week, shocked observers across the continent not just because of the huge sums of money involved, but also due to the promise from the European Union that they would “liberalise” visa restrictions between the EU and Turkey. Mrs. Merkel followed up with a visit to Ankara this weekend where she pledged to fast-track Turkish EU membership, a policy backed by British Prime Minister David Cameron.
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The Fun-Durr-Mental Driver Of Today's Buying-Panic In Stocks

Spot the difference...

CEO Of Europe's Largest Zinc Producer Hints At Default: Bonds Hit Record Lows, Stock Plunges Most Ever

Complacency seemed ready to set back in, with Glencore stock recently rising as high as its recent equity offering price of 125p. And then today we noticed that not only is Glencore's CDS back above 700 bps, the widest it has been in three weeks, but that another mining company has fallen into the market's crosshairs, this time Belgium-based (with Zurich HQ) Nyrstar NV, Europe's largest refined-zinc producer, whose stock crashed the most since its initial public offering in 2007, while it bonds tumbled to a yield of 19%, suggesting a default may be imminent.

WTF Chart Of The Day - Italian 2Y Bond Yields Collapse Below Zero For First Time Ever

Presented with little comment aside to say... WTF!!!

S&P Breaks Key Technical Resistance, Now What?

S&P 500 Futures just broke above the 200-day moving-average for the first time since August 19th. With crude, bonds, and credit all decoupled from this exuberance, one wonders what happens next... though clearly all-time highs will be required to enable The Fed to raise rates in October (currently a 6% probability)

The Real Trouble Begins When Rising Inequality Splinters The Elites

History supports two narratives of rising inequality leading to social disintegration and political instability: one is inequality between the top classes and everyone else, and the the other is rising inequality within the top classes. When the pie starts shrinking and there aren't enough slices to satisfy the rising expectations of the top class, the elites splinter in profound political disunity.

EURUSD Crashes 200 Pips, Biggest Drop In 9 Months

So much for The Fed stepping back to weaken the USD and save US Corporate earnings...

Leaked E-Mail: CIA Director Says US Screwed Up On Iran After 9/11

"The gratuitous labeling of Iran as part of a worldwide “axis of evil” by President Bush combined with strong U.S. criticisms of Iran’s nascent nuclear program and its meddling in Iraq led Tehran to the view that Washington had embarked on a course of confrontation in the region that would soon set a kinetic focus on Iran. Even Iran’s positive engagement in helping repair the post Taliban political environment in Afghanistan was met with indifference by Washington."

Even Gartman Is Tired Of His Own Constant Flip-Flopping

"In recent weeks and months we’ve seen reversals in the equities markets time after time and far, far too often. They have become common rather than uncommon events and this is the problem we confront today. We are growing weary of doing so and we are making that weariness evident here this morning. Flipping back and forth does no one any good, but flip we must if history’s lessons are to be heeded."

Valeant Crashes Back Below $100 As Quebec Regulator Begins Investigation

Just when you thought it was safe to BTFD, Valeant is re-crashing. After bouncing back yesterday afternoon, reportedly thanks to Ackman "buying millions more shares," news this morning that Quebec's regulator is watching the Valeant situation "very seriously" and said in a statement that the "allegations are worrisome" and is checking to see if Valeant didn't run afoul of regulations, has prompted more bloodbathery in the stock, now down over 16%...

Deutsche Bank Warns Bonuses Will Be Slashed As Much As 30%

A beleaguered Deutsche Bank is set to slash the investment bank bonus pool by some $566 million as John Cyran's effort to right a sinking ship continues. As Bloomberg reports, "no decision has been taken and the biggest reductions are likely to impact employees in the fixed-income business. Some managing directors may have their entire bonus scrapped, according to the person."

Decoupling Deja Vu All Over Again

What happens next?

Existing Home Sales Surge In September (Thanks To Massive Seasonal Adjustment)

September Existing Home Sales fell 6.5% from August, but you will not see that in the headlines as after adjustments for seasonals, existing home sales actually rose in September by 4.7%, bouncing back from a 5.0% revised lower drop in August (and beating expectatations of a mere 1.5% rise). 2015 has seen unprecedented volatility in the NAR's reported data, but a they note, "Unfortunately, first–time buyers are still failing to generate any meaningful traction this year."

The Morning After: Valeant Default Risk Soars After Called Next "Tyco", Sellside "Analysts" Humiliated

As always happens after shocking events like yesterday which "nobody could have possibly predicted", watching the Penguin gallery reel in its humiliation is absolutely worth the price of admission.

US Leading Economic Indicators Tumbles Most In 30 Months

Missing expectations for the 3rd month in a row, US Lesading Economic Indicators (LEI) dropped 0.2% MoM. There has not been a bigger monthly drop since March 2013. Ironmically, initial jobless claims (which we have recently explained is now useless) was the largest positive contributor (after the yield curve steepness) but stock prices, average workweek, and building permits weighed heaviest.

Americans' Outlook For The US Economy Plunges Near 2013 'Government Shutdown' Lows

Since February, Americans have become less and less confident about the economic future of the country. As Bloomberg reports, National Economy Expectations tumbled to 42.0 - just above Sept 2014 lows and almost as weak as during the 2013 government shutdown. 2015's weakening streak is the worst consistent drop since 2011 (which unleashed moar QE) as Americans' spending attitudes tumble the most since May.

Housing - There's No Way Out

The Fed has created permanent housing crisis from which there is no escape.

History of the Illuminati in 7 Minutes

from The Victory Report:

Russia 21: Technocracy, Agenda 21 And The New World Order In The Russian Federation

from The Sleuth Journal:

As the alternative media as a whole seems poised to eternally sing the praises of the Russian Federation in stymieing the Anglo-American Establishment’s imperialistic aims in Syria, entrenched in analysis of the 2D Chessboard of geopolitics, this author’s contrarian nature has seen fit to call attention to the 3D Chessboard unifying these seemingly disparate nation-states.
Today’s game? Agenda 21. Its playing piece of choice? The seemingly autonomous nation of Russia.
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Chinese President Xi Jinping speech to UK Parliament

[Ed. Note: President Xi Jinping begins at 5:45 mark.]
from liarpoliticians:

“CHAPPiE” and the New Transhumanist Religion

from Vigilant Citizen:
TCHAPPiE is a movie about a police robot with advanced artificial intelligence who gets kidnapped by gangsters. However, the true story of the movie is told through allegory and symbols: CHAPPiE is about the abandonment of old religions for a new, futuristic, transhumanist religion.
Warning: Massive spoilers ahead!
CHAPPiE was created by Neill Blomkamp’s, the South African director who is also behind District 9 and Elysium. As in his two previous films, Blomkamp hides a deeper message beneath the guns, the robots and the gangsters, one that even goes in the spiritual realm.
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Goldman Sachs’ Rich Man’s Bank Backstopped by You and Me

by Pam Martens and Russ Martens, Wall Street On Parade:

Just when you thought Wall Street’s heist of the U.S. financial system couldn’t get any crazier, along comes a regulator’s report on FDIC-insured banks exposure to derivatives. According to the Office of the Comptroller of the Currency (OCC), one of the regulators of national banks, as of June 30 of this year, Goldman Sachs Bank USA had $78 billion in deposits, and – wait for it – $45.7 trillion in notional amount of derivatives. (Notional means face amount of derivatives.) According to the OCC report, Goldman Sachs Bank USA’s notional derivatives are an eye-popping 563 percent of its risk-based capital. You and every other little guy in America is backstopping this bank because it’s, amazingly, FDIC insured.
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