Submitted by Tyler Durden on 02/10/2016 - 21:18
"if you're not going to give me the documents, exert your privilege, tell me your legal authority, why you're not going to provide this to us."
Submitted by Tyler Durden on 02/10/2016 - 16:30 "The Fed is completely dangerous - it's the most dangerous entity out there. The policy makers are the ones who are causing much of the problems we have today... The bad news has only just begun... This bear market will continue which means we’re headed lower with rallies in between until the Federal Reserve is forced to come in and start QE4."
Submitted by Tyler Durden on 02/10/2016 - 15:46
"Bloodbath" In Black Gold - Buffett's Phillips 66 Dumps Oil In Cushing, Crashes Crude Spreads To 5 Year LowsSubmitted by Tyler Durden on 02/10/2016 - 23:53 The canary in the coalmine of an increasingly desperate energy industry just croaked. With "unusual timing" and at "distressed prices," Reuters reports that Phillips 66 - the major US refiner owned by Warren Buffett - dumped crude oil for immediate delivery into Cushing storage tonight. This sparked heavy selling of the front-month WTI contract (to a $26 handle) and crashed the 1st-2nd month spread to 5 year lows.
How do you think they get congress and senators to vote their way...or the supreme court...
Submitted by Tyler Durden on 02/10/2016 - 18:05 You can’t say you weren’t warned. The writing on the wall that “smart devices” would prove to be manna from heaven for spy agencies and hackers around the world has been obvious for a very long time. And now, from none other than James Clapper, we get confirmation...
Submitted by Tyler Durden on 02/10/2016 - 22:35 Saudi Arabia and Turkey are both pushed into a corner over the shifting power base in the Middle East. The paranoia and desperation, like Saddam in 1990, could very well cause both countries to commit to the very act of aggression which will lead to their ultimate demise and removal from a position of influence within the region. Are we on the verge of another war?
Submitted by Tyler Durden on 02/10/2016 - 22:10 Earlier today, we reported that European officials are considering a two year Schengen suspension to help stem the inexorable flow of Mid-East migrants into Western Europe. To understand just how acute the problem is, consider the following chart from The Washington Post which shows how many more asylum seekers fled to Europe from January 1 through February 7 of this year compared to the number arriving from January 1 to February 28 of 2015.
Submitted by Tyler Durden on 02/10/2016 - 21:45 Putin’s continuing support to keep Assad in power has a direct correlation with Merkel’s weakening support at home. The longer the war in Syria endures, the weaker it could make Merkel. This has consequences for the rest of the EU. A weakened Merkel means a weakened, more divided Europe. The bloc will be in no shape to deal with the ever-mounting security challenges it faces, not least the ongoing political crisis in Ukraine, where on February 3 the economy minister resigned in disgust and frustration over corruption.
Submitted by Tyler Durden on 02/10/2016 - 20:55 We’re living in a time when people - especially young people - can see that the old ideas aren’t working any more. The young generation has inherited a mess from the older generations, and the young can see that what they’ve been told isn’t true. It’s not true that you can just go to college, run up a bunch of student debt, and then get a good job. The young can see that the middle class is being destroyed by our current economic system. And they can see that our foreign policy is failing. Whether we like it or not, change will come.
Submitted by Tyler Durden on 02/10/2016 - 20:35 "If we had 5% unemployment, do you think we'd have these gatherings?"
Submitted by Tyler Durden on 02/10/2016 - 20:35 Hong Kong traders are back from vacation, and with few options on the table, they are buying the one asset that provides the best cover to central banks losing faith, demonstrated most vividly by the total failure of the BOJ, and as a result just as Yen soars above 113, gold has taken out the numerous $1,200 stops and is currently surging to levels not seen in almost a year.
Submitted by Tyler Durden on 02/10/2016 - 20:30 "This is a very price elastic market. The only reason price hikes held last year was that all escorts raised their prices; customers had little choice. But it’s also a testimony to income growth: customers had the available disposable income."
Submitted by Tyler Durden on 02/10/2016 - 20:19 "We believe the epicenter of the problem is the Chinese banking system and its coming losses. Once analysts, politicians, and investors alike realize the sheer size of the impending losses and how they compare to the current levels of reserves, all focus will swing to the banking system."
Submitted by Tyler Durden on 02/10/2016 - 20:00 "There is excessive debt everywhere and negative interest rates are dangerous... My number one fear? That’s the same as asking me where it will start. When you view the economy as a complex, adaptive system, like many other systems, one of the clear findings from the literature is that the trigger doesn’t matter; it’s the system that’s unstable. And I think our system is unstable... Central Bank models are just wrong"
Submitted by Tyler Durden on 02/10/2016 - 19:30 "One of the most dreadful prisons in history – Guantanamo - continues to function. Libya was destroyed as a result of Obama’s aggression. In Syria, Obama’s agents train, fund and organize terrorist groups, deceitfully naming them 'moderate opposition', who, among other things, bear a relation to Al-Qaeda, implicated in crimes against the American people."
Submitted by Tyler Durden on 02/10/2016 - 19:00 When the economy collapses, it will collapse down to a lower sustainable level. Much of the world’s infrastructure was built when oil could be extracted for $20 per barrel. That time is long gone. So, it looks like the world will need to collapse back to a level before fossil fuels - perhaps much before fossil fuels.
Submitted by Tyler Durden on 02/10/2016 - 18:30 EU regulators have joined their counterparts in the US and Britain in probing the SSA market where banks may have colluded on price quotes. The big question is whether Deutsche Bank, which is struggling to reassure a nervous market, will find itself in the European Commission's crosshairs.
Submitted by Tyler Durden on 02/10/2016 - 17:14 In May 2015, Warwick's European Distressed & Special Situations Credit Fund liquidated after investors submitted redemption requests amounting to 90% of the fund’s assets. But something unexpected happened" "the problem" as HFA writes, is that "the fund’s remaining assets — encompassing debt and equity positions in Fitness First, New Gulf Resources, Oasis Holdings and Punch Taverns — are too illiquid to be sold."
filed under (unt )
Now, in a letter dated February 2 and filed in court Monday, the FBI’s general counsel, James Baker, notes that in public statements and congressional testimony, the FBI “has acknowledged generally that it is working on matters related to former Secretary Clinton’s use of a private email server.”
IN A LETTER DISCLOSED MONDAY IN A FEDERAL COURT FILING, THE FBI CONFIRMS ONE OF THE WORLD’S WORST-KEPT SECRETS: IT IS LOOKING INTO HILLARY CLINTON’S USE OF A PRIVATE EMAIL SERVER.
Why say this at all, since it was widely known to be true? Because in August in response to a judge’s direction, the State Department asked the FBI for information about what it was up to. Sorry, the FBI said at the time, we can neither confirm nor deny the existence of any investigation.