Submitted by Tyler Durden on 01/17/2016 - 11:31
"The events of 1929 taught us that the absence of any rise in prices did not prove that no crisis was pending. 1937 has taught us that an abundant supply of gold and a cheap money policy do not prevent prices from falling."
Submitted by Tyler Durden on 01/17/2016 - 11:21 The Dallas Fed met with the banks a week ago and effectively suspended mark-to-market on energy debts and as a result no impairments are being written down. Furthermore, as we reported earlier this week when first nothing the rumor, the Fed indicated "under the table" that banks were to work with the energy companies on delivering without a markdown on worry that a backstop, or bail-in, was needed after reviewing loan losses would exceed the current tier 1 capital tranches.
Submitted by Tyler Durden on 01/17/2016 - 12:13 It must be China. Or the weather, which is usually either too cold or to warm – somehow the weather is just never right for economic growth. Surely it cannot be another Fed policy-induced boom that is on the verge of going bust? Sorry, we completely forgot – the Fed is never at fault when the economy suffers a boom-bust cycle. "[An] oversold market can easily become more oversold when it keeps being inundated with evidence that economic conditions are not what they were thought to be."
Submitted by Tyler Durden on 01/17/2016 - 09:31 Iran is about to get a lot richer and according to President Rouhani, "everybody is happy except the Zionists, the warmongers who are fuelling sectarian war among the Islamic nation, and the hardliners in the U.S. congress."
Submitted by Tyler Durden on 01/17/2016 - 13:50 "Assuming selling in accordance to the average allocation of FX Reserve Managers and SWF across asset classes, we estimate that the sales of bonds by oil producing countries will increase from -$45bn in 2015 to -$110bn in 2016 and that the sales of public equities will increase from -$10bn in 2015 to -$75bn in 2016."
filed under "white trash"
Submitted by Tyler Durden on 01/17/2016 - 13:16 Hillary Clinton’s campaign is absolutely imploding right now. When people get desperate, they do desperate things, and the latest move by the Clinton campaign reeks of putrid, panicked desperation. Of course, it makes perfect sense that Hillary Clinton, JP Morgan and Bank of America would share the same strategist. After all, they are the exact same brand.
Submitted by Tyler Durden on 01/17/2016 - 12:41 Broad middle-east and african stock markets crashed over 5%, erasing any gains back to November 2008 as the carnage from last week continues. From Kuwait (-4.3%) to Qatar (-8%) it was a bloodbath as Saudi Arabia Tadawul Index plunged 5.4% - the most since Black Monday (now down over 50% from their 2014 highs). These losses are far in excess of US 'catch-up' moves and suggest a dark cloud over Asia this evening.
Jim Sinclair’s Commentary
Abandon ship before the underfinanced FDIC is called upon to perform!
FDIC Announces the Retirements of Stanley R. Ivie, Robert W. Mooney, and Eric J. Spitler, and Appointment of M. Andy Jiminez
FOR IMMEDIATE RELEASE
January 15, 2016
The Federal Deposit Insurance Corporation (FDIC) today announced the following personnel changes:
Eric J. Spitler, director of the Office of Legislative Affairs, retired after a 22-year career at the FDIC. He twice served as director of legislative affairs, most recently starting in 2012.
Prior to 2012, Spitler served for three years as counselor to the chairman and director of the Office of Legislative and Intergovernmental Affairs at the Securities and Exchange Commission. His retirement was effective at the end of 2015.
“Eric demonstrated outstanding judgment, professionalism, expertise, and enduring commitment to the FDIC’s mission for more than two decades,” Chairman Martin J. Gruenberg said.
The FDIC Board of Directors approved the appointment of M. Andy Jiminez as the new director of the Office of Legislative Affairs. Jiminez previously was the acting deputy director of legislative affairs at the FDIC and was a legislative attorney/advisor since July 2012. Prior to joining the FDIC, Jiminez served as senior counsel for banking and trade for the U. S. House of Representatives’ Committee on Small Business and as a senior financial services legislative assistant to U.S. Representative Nydia Velazquez.
Jiminez has also served as an attorney at the Office of the Comptroller of the Currency. He earned a law degree from The Ohio State University and a bachelor of science with dual majors in biology and history from Tulane University.
Robert W. Mooney, national director, Minority and Community Development Banking, retired at the end of 2015 after a 26-year career at the FDIC. Mooney oversaw the FDIC’s Minority Depository Institutions and Community Development Financial Institutions (MDI/CDFI) Program since November 2012. Previously, Mooney served as a senior advisor in the Office of the Chairman under both Sheila C. Bair and Martin J. Gruenberg, and held multiple senior leadership positions in compliance and consumer affairs.
“Bob is recognized by the industry as an expert in his field, and he has been instrumental in building the FDIC’s high-caliber MDI/CDFI program,” Doreen R. Eberley, director of the Division of Risk Management Supervision, said.
Scott D. Strockoz, is serving as acting national director for Minority and Community Development Banking. Strockoz, a 24-year veteran of the FDIC, is currently deputy regional director in the New York region, overseeing examination activities relating to financial institutions’ compliance with consumer protection, fair lending, and community reinvestment laws and regulations. He holds examiner commissions in both risk management and consumer protection and has additionally served as review examiner, field supervisor, acting regional director, and acting associate director, Compliance and Consumer Protection.
San Francisco Regional Director Stanley R. Ivie is retiring effective March 7, 2016, after serving more than 31 years at the FDIC. As regional director since 2007, Ivie has overseen the FDIC’s bank supervision activities in Alaska, Arizona, California, Guam, Hawaii, Idaho, Montana, Nevada, Oregon, Utah, Washington, and Wyoming. He previously served as regional director of the Dallas region and has also worked as a bank liquidation specialist, senior congressional liaison, assistant director and deputy director for the Division of Resolutions and Receiverships, and interim director of the Office of Public Affairs.
“Stan has done an exceptional job leading the San Francisco region through the recent financial crisis, after leading the Dallas region through the devastation wrought by Hurricane Katrina,” Doreen R. Eberley, director of the Division of Risk Management Supervision, and Mark Pearce, director of the Division of Depositor and Consumer Protection, said in a joint statement.
Congress created the Federal Deposit Insurance Corporation in 1933 to restore public con?dence in the nation’s banking system. The FDIC insures deposits at the nation’s banks and savings associations, 6,270 as of September 30, 2015. It promotes the safety and soundness of these institutions by identifying, monitoring and addressing risks to which they are exposed. The FDIC receives no federal tax dollars—insured financial institutions fund its operations.
FDIC press releases and other information are available on the Internet at www.fdic.gov, by subscription electronically (go to www.fdic.gov/about/subscriptions/index.html) and may also be obtained through the FDIC’s Public Information Center (877-275-3342 or 703-562-2200). PR-3-2016
Responding to a question put to him at a town hall meeting in Baton Rouge, La., on Thursday, President Barack Obama said emphatically that First Lady Michelle Obama is not running for president.
“I’m the proud father of one of your special, great Secret Service,” said a gentleman in the audience.
“Outstanding,” said Obama.
When news first broke of the detention of two U.S. ships in Iranian territorial waters, the U.S. media — aside from depicting it as an act of Iranian aggression — uncritically cited the U.S. government’s explanation for what happened. One of the boats, we were told, experienced “mechanical failure” and thus “inadvertently drifted” into Iranian waters. On CBS News, Joe Biden told Charlie Rose, “One of the boats had engine failure, drifted into Iranian waters.”
Provided their government script, U.S. media outlets repeatedly cited these phrases — “mechanical failure” and “inadvertently drifted” and “boat in distress” — like some sort of hypnotic mantra. Here’s Eli Lake of Bloomberg News explaining yesterdaywhy this was all Iran’s fault:
As the evidence of the extreme harm to health inflicted by nuclear radiation mounts, the denialists are resorting to ever greater extremes, writes Chris Busby. On the one hand, advancing the absurd claim that ionising radition is not merely harmless, but health-enhancing. On the other, closing down the experiment that would have provided the strongest evidence yet.
It used to be, and indeed children are still taught in schools, that the advances that have been made in the last five hundred years (antibiotics, electricity, computers etc) resulted from the application of Science and its overthrow of dogmatic belief.
US post-9/11 war on terror reflects state-sponsored deception – with the media complicit in conning the public to believe Washington opposes what it actively supports.
ISIS, Al Qaeda, Jabhat al-Nusra and various splinter groups are US creations, used as imperial foot soldiers, flourishing because Washington and rogue partners arm, fund, train and direct them.
Obama’s vow to “degrade and destroy” ISIS is one of his many Big Lies – saying one thing while supporting a universal scourge.
Do you know what your “threat score” is? Today, more than 90 percent of all local police departments and nearly all government agencies employ some sort of technological surveillance. One of the most common applications is called “Beware”, and it scans billions of “arrest reports, property records, commercial databases, deep Web searches” and social media postings to give authorities an idea of who they are dealing with. So the next time that police pull up in front of your home, it is likely that what you have posted on Facebook will be searched. If you have said things that could be construed as “anti-government” or “anti-police”, there is a very good chance that you will have a very high “threat score” and you will be on “the red list”.
I understand that this sounds like something that comes directly out of a science fiction movie, but I assure you that it is very real. In fact, the Washington Post reported on this just the other day…
A USDA study has confirmed the agency’s own original forecast that GM alfalfa would promiscuously contaminate the non-GM crop. This news follows years of contamination incidents, leading to lawsuits between farmers growing organic, non-GM crops and farmers growing genetically modified crops.
The study involved Monsanto’s Roundup Ready alfalfa, which, like most GE crops in the U.S., is engineered to survive copious amounts of Roundup, Monsanto’s flagship herbicide. Monsanto’s GE alfalfa has essentially ‘gone wild,’ causing American alfalfa growers millions in lost income.
This post is actually taken from another thread, where I was explaining the ROOTS of the extreme corruption (and endemic incompetence) of the current collection of Western governments. This is why it is inevitable that we will end up with the worst government that money can buy — the money of the Oligarchs.
Sadly, most people are so brainwashed with the mantra that “everyone gets to vote” that they will never read this, or stop long before they get to the finish. In fact, right now “everyone” is NOT allowed to vote. Children can’t vote (supposedly). Criminals in our prisons can’t vote. The (institutionalized) insane can’t vote. So why do we allow IDIOTS to vote?
NEW DELHI: Aimed at curbing demand for physical gold, the government has said banks will launch the second tranche of the sovereign gold bond scheme on January 18.
The second tranche of gold bond scheme will remain open till January 22, Economic Affairs Secretary Shaktikanta Das said in a tweet.
“Next issue of gold bonds will be open from January 18 to January 22. Conference with bank CMDs held today,” Das said.
The first tranche of gold bond scheme, which was launched in November, had got subscription for 915.95 kg of gold amounting to Rs 246 core.