Wednesday, February 24, 2016

Citi: "We Have A Problem"

Dear Janet, Mario, & Haruhiko - It's Time For The 'C' Word

A Warning To The Feds On Incremental Prosecutions Of The Liberty Movement

Incremental prosecution and oppression is effective when the establishment wishes to avoid outright confrontation with a population. Attempt to snatch up a million people at one time, and you will have an immediate rebellion on your hands. Snatch up a million people one man at a time, or small groups at a time, and people do not know what to think or how to respond. We have seen this all before in the passive sublimation of past societies, and if such trespasses are brought upon the liberty movement or the population at large, then many will adopt the attitude that there is not much left to lose.

In Biggest Victory For Saudi Arabia, North Dakota's Largest Oil Producer Suspends All Fracking

Yesterday Saudi oil minister Ali al-Naimi made it explicitly clear that Saudi Arabia would not cut production, instead saying that it is high-cost producers that would need to either "lower costs, borrow cash or liquidate” adding that there is "no need for cuts as marginal barrel will get out of the market." He was right. Today his wish is slowly coming true after news that North Dakota's largest producer, Whiting Petroleum, would suspend all fracking, and that Continental Resources has effectively done the same after reporting that it no longer has any fracking crews working in the Bakken shale.

Jim Rogers Warns "Governments Plan Is To Destroy The People Who Save"

"Everybody should be worried.. and be prepared," warns legendary investor Jim Rogers, as he sees the market "facing a bigger collapse than in 2008," and the central banks will be unable to kick the can much longer. "This is the first time in recorded history where you have Central Banks & governments setting out to destroy the people who save & invest," Rogers exclaims and "the markets are telling us that something is wrong - we're getting close."

When Currency Pegs Break, Global Dominoes Fall

When a currency peg breaks, it unleashes shock waves of uncertainty and repricing that hit the global financial system like a tsunami.

Norway Warns Sweden Will Collapse, PM Will Defy Geneva Convention To Protect Border

"When we make such a proposal, we know that it is quite a big break with how things have been, but we must have some measures that are preparing for the worst case scenarios,”

"Credit Risk Is Growing," FDIC Warns As Loss Provisions Jump $3.8 Billion In 3 Months

After finding out that JPMorgan is set to put aside an extra $500 million in Q1 to provision against losses on its $44 billion energy book, we learn on Wednesday that when we look out across 6,182 FDIC-insured institutions, banks' loan loss provisions increased by nearly $4 billion in Q4. That's the sixth consecutive quarter of higher loan loss reserves.

We Just Found Out The Real Reason The FBI Wants A Backdoor Into The iPhone

On the face of it, The FBI vs Apple - the feverish momentum of American technocracy accelerating into the cavernous Orwellian entrenchment of the surveillance state - boils down to a single locked and encrypted iPhone 5S, used by radical jihadist Syed Rizwan Farook. However, as we are learning, the FBI and the federal government have a far more comprehensive end-game in mind than merely bolstering the prosecution of this one case.

Canary, Meet Coal Mine: These Are The Tranches Where The CLO 2.0 Meltdown Begins

It was just three days ago when we brought you what we called “the next shoe to drop:” CLOs. Just hours after our warning, Moody's followed in S&P's footsteps and delivered their first downgrade of post-crisis US CLOs. In the crosshairs: Silvermine Capital or, more specifically, Silvermore CLO and Silver Spring CLO where exposure to junk debt and the increasingly toxic O&G space is worryingly high.

According To Morgan Stanley This Is The Biggest Threat To Deutsche Bank's Survival

According to Morgan Stanley the biggest threat to the profibatility, viability and outright existence of the most leveraged commercial bank in the world, is none other than ECB president Mario Draghi.

Japanese 'Margin' Traders Suffer Biggest Losses "Since Lehman"

Mrs Watanabe has a major problem. Following Kuroda's regime shift to NIRP (and the ensuing collapse of Japanese stocks and USDJPY), the herded masses of leverage speculators - who bought on the back of China-like promises and Peter-Pan(ic) hopes from the government that everything will be awesome - are suffering the largest unrealized losses since Lehman. Let's hope Kuroda can do something before the unrealized becomes 'realized' and waterfalls through the real economy (and the world's collateral chains).

Exposing The Hidden Agenda Of Davos 2016

“It’s a big club and you ain’t in it!

"Where Are The Bubbles?" - UBS Shows Them All In One Chart

As has become increasingly obvious to many, unconventional central bank policies have resulted in an unprecedented level of crowding – a "herd mentality" to trade positioning on the basis of a similar theme – throughout global equity markets. UBS quant team guages the "barometric pressure of developing investment bubbles" across various factors and looks for the inflection points with the dollar, oil, and politics as the main catalysts.

Detroit Teachers Face "Payless Paydays" As Dilapidated School District Faces Financial Reckoning

Donald Trump Is Right: Here Are 100 Reasons Why We Need To Audit The Federal Reserve

When a leading nominee for President gets something exactly right, we should applaud them for it.  In this case, Donald Trump’s call to audit the Federal Reserve is dead on correct.  Most Americans don’t realize this, but the Federal Reserve has far more power over the economy than anyone else does – including Barack Obama.  The funny thing is that the Federal Reserve is not even part of the federal government.  It is an independent private central bank that was designed by very powerful Wall Street interests a little over 100 years ago.  It is at the heart of the debt-based financial system which is eating away at America like cancer, and it has no direct accountability to the American people whatsoever.

Wedbush Goes There: "Beware The Panics And Crashes Of March"

As if several markets tumbles and heartstopping short squeezes in just the first two months of 2016 have not been enough to turn professional traders' hair prematurely gray and drive all retail daytraders permanently out of the "market", here is a warning from Wedbush's otherwise quite somber repo market analyst, Scott Skyrm, according to whom the volatility is only just starting.

Worst US Economy Since Government Shutdown Sparks Panic-Buying In Stocks

Even The Average Joe Gets It: "They’re Winding Us All Up For A Minsky Moment"

"... the average Joe isn’t as gullible as he once was and the personal savings rate remains high and is rising. Get out and buy something you don’t need, your kids can pay for their own education. If you really want to see people spend and invest there has to be some belief this won’t all end in tears."

Electoral Distraction And Media Dysfunction

America’s moral compass was performing surprisingly well until a few months ago. Citizen journalism and social media were driving the news cycle and framing the narratives. Then election season began, and the regularly scheduled dumbing down of American discourse was reinstated.

Restoration Hardware Stock Crashes After Terrible Earnings; Company Blames Crashing Stock Price

"Historically, our business has a correlation to large movements in stock prices as we believe asset valuations influence our customers’ buying patterns."

Scalia 'Speaks' From The Grave

What Could Go Wrong? Brazil Plans To Kill Zika With Gamma Radiation Burst

Having "nailed it" with the feces-infused water for the Olympics, killed the golden goose of its economy, and unable to crackdown on widespread corruption, Brazil now has a 'great' idea to solve its utterly disastrous Zika epidemic... by zapping millions of male mosquitoes with gamma rays from drones to sterilise them.

Google's "SkyNet" Robots Are All Grown Up, And Terrifying

"Gold Never Changes, It's The World Around It That Does"

Gold never changes; it's the world around it that does. Why is it that we see a renewed interest in gold now? And more importantly, should investors buy this precious metal? Key attributes in a 'changing world' that are relevant to the price of gold are fear and interest rates.

Goldman Banker Behind Malaysia Slush Fund Leaves Bank

Regular readers know Tim Leissner. Leissner was the powerful Goldman banker responsible for financing Malaysian PM Najib Razak’s giant slush fund, known as 1MDB. On Wednesday, the bank has confirmed his exit, just as authorities across the globe probe the fund's financing for evidence of malfeasance.

Foreign Central Banks Scramble To Buy In Blockbuster 5 Year Treasury Auction

After yesterday's strong 2Year auction, there was some confusion how today's issue of $34 billion in 5 Year paper would transpire, especially after the previously reported "technical difficulties" which prevented the NY Fed from conducting today's MBS POMO - something that has not happened in years. Well, the results are in and the auction was an absolute blockbuster.

The REAL Reason Donald Trump is Dominating (and it has the Globalists Terrified)

from The Wealth Watchman:

Brothers, for months I’ve been silent on the ongoing electoral process in the US election for President, but by no means does that mean I’ve not been carefully watching it or have strong feelings about it.  On the contrary, I’ve been very energized by watching what’s been developing, and all the huge implications it has going forward.
Today I’m silent no longer, and am going to weigh in on the extraordinary political movement we’re now witnessing.  Ladies and gentlemen, the Trump campaign is set to steamroll the entire GOP nomination process, and become the Republican nominee going away. This is giving the incomparably corrupt GOP political machine daily nightmares! And this newest headline from Nevada just sent their terror into overdrive:
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Brexit: Why Britons Won’t Get What They Vote For

from The Daily Bell:
EU referendum: Leaving EU a ‘leap in the dark’ says Cameron … The prime minister says his only agenda is what is best for the country … David Cameron has warned that leaving the European Union “could hurt working people for years to come”, as he put the case for staying in the EU to MPs. He said the choice was between an “even greater Britain” by staying in, or a “leap into the dark” by exiting. – BBC

On June 23, British citizens will line up to cast their vote on whether or not the country should stay in the European Union.
Plenty of reasons exist for Britain to leave the EU. Britain itself is an increasingly authoritarian environment but the trend in the EU is even worse.
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SORRY JAMIE: J.P. Morgan Has Lost $8.7 Billion in Value Over the Last Two Days

by Lucinda Shen, Fortune:

Blame it on oil prices.
Shares of J.P. Morgan Chase JPM have lost nearly $8.7 billion in value in the last two days, after CEO Jamie Dimon announced plans to increase energy loan reserves by 60% to $1.3 billion.
Dimon told investors Tuesday that the bank had added roughly $500 million to its reserves for energy sector loan losses in the first quarter of 2016. Although that brings J.P. Morgan’s reserves up to just below 3% of the bank’s exposure to the sector, the news shook investor confidence.
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“OK, Big Brother:” Evidence Shows ISIS Fighters Working With Turkish Military To Cross Syria Border

by Brandon Turbeville, Activist Post:
Tempting fate and risking both prosecution and shut down, Turkey’s Cumhuriyet newspaper has recently revealed yet more evidence that Turkey is collaborating directly with ISIS terrorists and assisting them across the border into Syria.
The Turkish paper has published new transcripts of telephone conversations between Turkish military officers and ISIS/”jihadist” fighters.
These documents allegedly stem from a court case currently moving through the Turkish judicial system in the Ankara 3rd High Criminal Court relating to the Islamic State. The investigation apparently began when six Turkish citizens reported to law enforcement officials that their family members had joined ISIS. Around 19 people were monitored as a result and 27 individuals were charged. Cumhuriyet published the first batch of documents in December, 2015 which were subsequently reported by the independent and alternative media in the West.
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Merck Executive Explains Why Drug Prices Are Out of Control

by Christina Sarich, Natural Society:
Kenneth Frazier, a chief executive of Merck & Co. and chairman of the industry lobbying group Pharmaceutical Research and Manufacturers of America, wants you to know why drug prices have gotten so out of hand.
According to Frazier:
“Merck has increased the prices of its drugs on a yearly basis, but we’ve tried to be constrained in how we’ve done it, in a way we think doesn’t prevent people from affording our drugs. There’s a huge challenge we face between trying to optimize access to our drugs in whatever pricing we establish, and trying to ensure that you have the resources to continue to pursue the next generation of drugs. We try to take a responsible, balanced approach.”
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Are Canadian Banks the Next Shoe to Drop?

by Nathan McDonald, Sprott Money:

Oil once again is in the spotlight, in fact, it never really has left since the correction has begun. Oil is so deeply linked with our global economy, that it cannot and will not be ignored. The continued downturn is highlighting the fact that the global economy is weak and due for a correction. All indicators point to this.
Many financial experts and pundits believe that we have already begun the next recession, others believe that we remain in the same crisis that was papered over in 2008. I am in the camp of the latter, but in the end, to the man on the street, it is a matter of perspective.
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Do It Yourself: How To Make Nutritious Homemade Meals-Ready-To-Eat (MRE’s)

by Tess Pennington, SHTFPlan:

Editor’s Note: Though often touted as the only meal you need to store, MRE’s (Meals-Ready-To-Eat) have serious drawbacks as highlighted in Here’s What Happens When You Eat Nothing but MREs. To be sure, there is a time and place for pre-packaged MRE’s and we certainly recommend having some in stock in case of an emergency. But eating MRE’s exclusively will obliterate your digestive system leading to symptoms like constipation,  inflammation, bloating, gas, fatigue, and diarrhea – not exactly the feelings you want to be experiencing in the middle of a disaster. 
The following article from The Prepper’s Blueprint author Tess Pennington was originally published at Ready Nutrition and aims to solve the problem of having shelf-stable, highly nutritious foods, while also resolving the unwanted symptoms that come with traditional MRE packs. 
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