Submitted by Tyler Durden on 10/07/2015 - 16:20 Deutsche Bank warned it expects to record a third-quarter loss of $7 billion, tied to a huge write-down in its corporate-banking-and-securities segment. The bank said the charges are driven by the impact of expected higher regulatory capital requirements and its disposal of Postbank. It also said it will consider reducing or eliminating its common dividend for fiscal 2015.
DEUTSCHE BANK SEES 3Q NET LOSS EUR 6.2 BLN
DEUTSCHE BANK TO RECOMMEND DIVIDEND CUT OR POSSIBLE ELIMINATION
People call websites like The Daily Coin, nothing more than propaganda or “conspiracy theory”. Well, why waste time on “theories” when the facts, as discussed by the criminals, are right in front of you? The criminals have a code of conduct that states they must tell us, the little people, what they are going to do before they do it. This way they can sleep at night with a clear conscience. It is your job to listen to what they say, watch their actions and make your plans to counter what is headed in your direction. You sometimes have to learn new words, like Quantative Easing. These words are used to confuse you or to throw you off course and make it easier for you to watch the football game than to be concerned about your personal finances. Aren’t your personal finances being handled by your financial advisor anyway? Well, does that person have your best interest at heart or are they simply looking out for their family with your assets? Ever thought about it from that perspective?
Submitted by Tyler Durden on 10/07/2015 - 15:55 Just in case anyone still foolishly believes that there’s a shred of decency left in the ‘justice’ system in the Land of the Free, we would humbly present exhibit A: Edward Snowden.
"I Would Say Don't Worry" Says Chinese Central Banker As Indian Central Banker Says "World Economy Is Looking Grim"Submitted by Tyler Durden on 10/07/2015 - 20:17 "I would say, don't worry" said Yi Gang, deputy governor of the People's Bank of China, after the International Monetary Fund warned of risks in China's economic challenges.
"The world economy is looking grim" - said Raghuram Rajan, Indian central bank governor and former chief economist of the International Monetary Fund.
Submitted by Tyler Durden on 10/07/2015 - 20:00 What if we were to redraw the world map based on the (un)sustainability of national debt levels?
Thinking you are not taking risks, based on the judgement of others, is tantamount to taking on their risks, i.e. Glencore, as an “Investment Grade” stock, a specific asset class always “assumed” to be “Safe”. So when you assume A position based on being SAFE, you in-fact, assume the risks of the people who SAY it is safe, unless they are known liars.
There is a nice article on that by Charles Hugh-Smith where-in he makes it clear that whatever you do, YOU RISK, at the rate in force then. Thus you can deny risk by masking it, but you really can’t change it. Doing nothing may actually be more dangerous than the action you may have contemplated.
Submitted by Tyler Durden on 10/07/2015 - 19:30 Someone in Chicago has been shot every 2.84 hours this year for a total of 2,349 shootings during the period of January 1, 2015 to October 6, 2015 (and 2015 is likely to eclipse 2014's record 2.587 shooting victims); but, Chicago, for all intents and purposes, is a “gun-free zone.” But all the state and city regulations associated with firearms in Chicago have failed to produce a safe city, and these are the policies that President Obama and Secretary Clinton wish to extend to the rest of the country.
Presenting SocGen's "China Syndrome": "The Vicious Cycle Of Lower Demand, Prices And Commodity Currencies"Submitted by Tyler Durden on 10/07/2015 - 18:59 "There's a circularity and self-fulfilling relationship between commodity currencies, lower commodity demand and lower commodity prices in an environment of oversupply."
Submitted by Tyler Durden on 10/07/2015 - 18:30 How’s that recovery going for you? Here’s the latest data point from the ongoing oligarch crime spree shamelessly marketed to the masses as an “economic recovery.”
"They're Converging To Dire Levels!": SocGen's Edwards Delivers Critical Warning On Inflation ExpectationsSubmitted by Tyler Durden on 10/07/2015 - 18:00 "The collapse in inflation expectations tells us that the market believes the central banks, despite their monetary profligacy, are failing to prevent the western economies from turning Japanese, and thus at risk of repeating their devastating slide into outright deflation in the 1990s."
Submitted by Tyler Durden on 10/07/2015 - 17:30 “We have to look into what is being prescribed and what is in these meds just like clinical studies. Why don’t we do studies on the medication all of these shooters were taking and take that medication off the market? Obviously, medications can alter your mind just as alcohol can alter the mind..."
Submitted by Tyler Durden on 10/07/2015 - 17:27 And now the real shocker: there is over US$100bn in gross financial exposure to Glencore. From BofA: "We estimate the financial system's exposure to Glencore at over US$100bn, and believe a significant majority is unsecured. The group's strong reputation meant that the buildup of these exposures went largely without comment. However, the recent widening in GLEN debt spreads indicates the exposure is now coming into investor focus."
Submitted by Tyler Durden on 10/07/2015 - 17:11
filed under Lying BITCH...and (unt)... I keep forgetting the last )...
Submitted by Tyler Durden on 10/07/2015 - 16:58 In what seems like a nervous populist move amid Bernie Sanders' gains, Hillary Clinton has flip-flopped rather stunningly to oppose President Obama's Trans-Pacific Partnership. Despite supporting the bill at least 45 times, as CNN's Jake Tapper points out, Clinton told PBS' Judy Woodruff Wednesday in Iowa that, "As of today, I am not in favor of what I have learned about it." It's also a departure from the Clinton legacy, as CNN notes, it was President Bill Clinton who, two decades ago, signed the first mega-regional pact: the North American Free Trade Agreement.
Submitted by Tyler Durden on 10/07/2015 - 16:45 The US and world economies are drifting inexorably into the next recession owing to the deflationary collapse of commodities, capital spending and world trade. These are the inevitable “morning after” consequence of the 20-year global credit binge which has now reached its apogee. The apparent global boom during that period was actually a central bank driven excursion into the false economics of household borrowing to inflate consumption in the DM economies; and frenzied, uneconomic investing to inflate GDP in China and the EM. The common denominator was falsification of financial prices. By destroying honest price discovery in the financial markets, the world’s convoy of money-printing central banks led by the Fed elicited a huge excess of financialization relative to economic output.
Submitted by Tyler Durden on 10/07/2015 - 15:49 As the following chart shows, after langushing between $70 and $800 billion in the second half of the last decade, since Q2 2010 US auto loans have been on an absolute tear, and have increased by over 40% in the past five years alone, to just shy of $1 trillion as of June 30!
Submitted by Tyler Durden on 10/07/2015 - 15:45
"You Never Go Full-Krugman": Insane Helicopter Money Calls Continue As Trapped Central Banks Face Keynesian EndgameSubmitted by Tyler Durden on 10/07/2015 - 15:31 "The helicopter. Rather than buying assets, central banks drop money on the street. Or even better, in a more modern and civilised fashion, credit our bank accounts!" Yes, "even better!"...
Submitted by Tyler Durden on 10/07/2015 - 13:54 "This morning from the Oval Office, President Obama spoke by telephone with Doctors Without Borders International President Dr. Joanne Liu, to apologize and express his condolences for the MSF staff and patients who were killed and injured when a US military airstrike mistakenly struck an MSF field hospital in Kunduz, Afghanistan over the weekend," Earnest said in the White House briefing.
Submitted by Tyler Durden on 10/07/2015 - 13:46 Just around the corner, indeed.
There’s a meme going around that the refugee crisis in Europe (the largest since World War II) is part of a secret plot to subvert the West.
I completely understand why the locals in any country wouldn’t be happy about waves of foreigners pouring in. Especially if they’re poor, unskilled, and not likely to assimilate.
It leads to huge problems. Infrastructure gets strained. More people are sucking at the teat of the welfare system. The unwelcome newcomers compete for bottom-of-the-ladder jobs. Things easily turn nasty and then turn violent.
The International Monetary Fund (IMF) is one of the most powerful institutions in the world. It acts as the de facto central bank of the world. The IMF makes loans to countries in distress, raises funds from its member nations and issues its own world money called the special drawing right (SDR).
It also acts as the regulatory and policy arm of the Group of Twenty, or G-20. The G-20 is a multilateral club that includes both the richest nations in the world (the U.S., Japan, the U.K., Germany, etc.) and the most populous emerging economies (China, India, Brazil) among others.
The G-20 has no permanent staff or bureaucracy, so it outsources policy tasks to the IMF. These combined roles as the world’s central bank and the G-20’s eyes and ears make the IMF the center of gravity for policy in the international monetary system.
We have just witnessed one of the most significant steps toward a one world economic system that we have ever seen. Negotiations for the Trans-Pacific Partnership have been completed, and if approved it will create the largest trading bloc on the planet. But this is not just a trade agreement. In this treaty, Barack Obama has thrown in all sorts of things that he never would have been able to get through Congress otherwise. And once this treaty is approved, it will be exceedingly difficult to ever make changes to it. So essentially what is happening is that the Obama agenda is being permanently locked in for 40 percent of the global economy.
The United States, Canada, Japan, Mexico, Australia, Brunei, Chile, Malaysia, New Zealand, Peru, Singapore and Vietnam all intend to sign on to this insidious plan. Collectively, these nations have a total population of about $800 million people and a combined GDP of approximately 28 Trillion dollars.
War in Syria, Ukraine, Middle East, South China Sea and other places seems more likely each month. History shows that wars are inflationary, commodities increase in price, and governments finance wars with debt and fiat currency. We want higher gold prices and no war, but the “powers-that-be” will do what is necessary to increase their power and wealth, and if that requires war, then expect more war.
When armies invaded other countries throughout history, were they more interested in confiscating gold or paper currencies? Who wants fiat currency when it is circling the drain on its way toward zero? In troubled times the preferred asset is gold, not devaluing paper currencies issued by insolvent countries and central banks.
As the days go by, more and more hard data continues to point to one thing: silver supply has never been tighter. It doesn’t matter where you point to, the story’s the same: strong demand, and diminishing supply. There are a variety of factors contributing to this, but some are now simply too much for the bankers to overcome, and the evidence is overwhelming.
Take for instance, the dwindling numbers at the Comex. These warehouses continue to show remarkable ‘churn’, as somewhere between 3 to 5 million ounces(or more) have continued to move in and out of Comex warehouses practically all year long. It has had a brutal effect, year-to-date, on silver numbers, particularly in the registered(for sale) numbers. One look at this long-term chart will prove it, as well as give it perspective:
Something occurred in the banking system in September that required a massive reverse repo operation in order to force the largest ever Treasury collateral injection into the repo market. Ordinarily the Fed might engage in routine reverse repos as a means of managing the Fed funds rate. However, as you can see from the graph below, there have been sudden spikes up in the amount of reverse repos that tend to correspond the some kind of crisis – the obvious one being the de facto collapse of the financial system in 2008:
You can also see from this graph that the size of the “spike” occurrences in reverse repo operations has significantly increased since 2014 relative to the spike up in 2008. In fact, the latest two-week spike is by far the largest reverse repo operation on record.
In particular, MSF (Doctors Without Borders) quickly publicized numerous facts that cast serious doubt on the original U.S. claim that the strike on the hospital was just an accident. To begin with, the organization had repeatedly advised the U.S. military of the exact GPS coordinates of the hospital. They did so most recently on September 29, just five days before the strike. Beyond that, MSF personnel at the facility “frantically” called U.S. military officials during the strike to advise them that the hospital was being hit and to plead with them to stop, but the strikes continued in a “sustained” manner for 30 more minutes.
– From Glenn Greenwald’s article: The Radically Changing Story of the U.S. Airstrike on Afghan Hospital: From Mistake to Justification
For the past six months or so, as the global economic collapse has grown progressively uglier, the thing that has shocked me most has been the utter abdication of interest by Wall Street, the Mainstream Media, and even Washington’s duty to discuss it. It’s almost as if they have been cumulatively hypnotized by the most maniacal; relentless; and now, global market manipulation operative in human history. Or, more aptly put, “robo-algorithm history,” given just how few humans actually participate in “trading” these days.
Frankly, it’s gotten to the point that no one believes a 2008-style crash is even possible, given the unremitting use of “PPT operations” to support “last to go” markets like the “Dow Jones Propaganda Average,” Nikkei, and German DAX. True, these three “over-observed” indices – in that their movements have had ZERO correlation (or better yet, negative correlation) to collapsing economic activity since their post-2008 “commandeering” – are down 7%, 17%, and 11%, respectively, since their highs earlier this year. In the Dow and DAX’s case, all-time highs, at least innominal terms. However, care of the aforementioned, historic efforts of the Fed, Bank of Japan, and ECB – both overtly and covertly – they are all 150% higher than their February 2009 lows, making the “1%” that own the vast majority of stocks fabulously wealthy, at the expense of the “99%” that are cumulatively experiencing the hardest economic times in generations.