Submitted by Tyler Durden on 03/01/2016 - 08:13
"Yes, we could be like the good citizens who voted for a "tameable" Hitler in 1933 to get things back on track. But the alternatives look worse."
Submitted by Tyler Durden on 03/01/2016 - 09:39 With overnight weakness in data sparking hype that moar stimulus is coming, and therefore juicing demand for oil, crude prices spurted above $34.50 this morning (after the NYMEX close banging yesterday). However, the last few minutes have seen the machine slam WTI back into the red after Putin said he would ask Russian oil producers if they will freeze production (at record levels).
Submitted by Tyler Durden on 03/01/2016 - 09:21 On Tuesday, Donald Trump and Hillary Clinton are expected to all but lock up the GOP and Democratic nominations, respectively. If all goes as planned, the stage will be set for an epic political showdown between the bellicose billionaire and the belligerent former Secretary of State.
Submitted by Tyler Durden on 02/29/2016 - 22:45 The Great Illusion of the two-party system is that it allows the voter a choice – usually between a liberal and a conservative government. The reality is that, whichever party wins the election, the government is, in truth, a totalitarian one. The “choice” is a mere distraction from the true objective.
In 1996 Bill Clinton referred to the U.S. as “the world’s greatest force for peace and freedom, for democracy and security and prosperity.”
For PEACE he cluster-bombed civilians in Yugoslavia, wiped out a pharmaceutical factory in Sudan, and stood by as Iraqi sanctions and Rwandan genocide killed hundreds of thousands of people.
For FREEDOM he oversaw the largest increase in prison population in U.S. history, with the great majority of prisoners in for nonviolent drug offenses, and with more people working in criminal justice than in social services.
Submitted by Tyler Durden on 03/01/2016 - 08:58 We are delighted to report that after many years, Nanex has finally been vindicated, and is the first whistleblower paid under the Dodd-Drank Wall Street Reform and Consumer Protection Act of 2010 meant "to reward an independent third party for analysis of a potential securities law violation." His reward: $750,000.
Submitted by Tyler Durden on 03/01/2016 - 08:40 With analysts calling NatGas's glut even bigger than crude's, the following 'chart' has just become the scariest in the world for the energy complex. As Bloomberg warns, if you live in the eastern U.S., it’s almost time to put that snow shovel away and get out the gardening tools, as March temperatures are expected to be considerably higher than expected across the entire US (except Florida, sorry).
Submitted by Tyler Durden on 03/01/2016 - 08:25
Submitted by Tyler Durden on 03/01/2016 - 08:22 From decoupled American to deteriorating China, PMIs (and plenty of other data) is rapidly descending into the ugly reality that every mainstream economist is in denial about. Of course, this terrible news is terrific news for stocks (moar stimulus) but it is Gold that appears to be benefitting most as the inevitability of the next extreme monetary policy makeover looms ever closer...
Today's Rally Explained: Gartman Is Again "Selling The Markets Short" Just Two Days After Turning BullishSubmitted by Tyler Durden on 03/01/2016 - 07:59 "We are selling the markets short once again, having been short recently and having covered that short only a “short” while ago. But we are sellers once again this morning, noting that as the global markets have rallied they have done so on lesser volume on balance. Volume should follow the trend and the trend and volume are pointing lower, not higher."
Submitted by Tyler Durden on 03/01/2016 - 07:39 "Look at your stock price. No one believes your story!"
Submitted by Tyler Durden on 03/01/2016 - 06:53 With markets happy to put February in the history books because it marked the fourth consecutive monthly decline in global stocks, we move on to March 1st, which doubles down as 'Super Tuesday' in the US when Trump's presidential candidacy will almost certainly be sealed and a day in which stocks decided to join the super fun by super surging overnight on nothing but bad global macro and economic which however was promptly ignored and instead the focus was on ongoing central bank intervention and even more jawboning.
Submitted by Tyler Durden on 02/29/2016 - 23:03 “As a proposition for someone who’s going to live in that house and what you’re getting for four million plus – that is a ridiculous joke and that is not something that’s going to work for people who just make a living in Vancouver."
Submitted by Tyler Durden on 02/29/2016 - 23:02 As we detailed earlier, for the first time in the history of crazy, Japan 'sold' 10-year government bonds today at a negative yield. Translated into English, this means "investors" agreed to pay the Japanese government 2.4bps per year for the privilege of lending it money for 10 years...
Submitted by Tyler Durden on 02/29/2016 - 22:36 "We choke slammed some folks"...
Submitted by Tyler Durden on 02/29/2016 - 22:22 If WMP buyers decide to ‘go on strike’ for whatever reason, a liquidity crunch in the shadow banking sector could quickly develop in our view.
The ceasefire in Syria is a joke. Turkish military units continue to mass along the border, and militants are pouring across the border to attack targets in northern Syria. The Prime Minister of Turkey is now openly admitting that his government is supporting the militants that are trying to overthrow the Syrian government, and the Turkish government has also made it abundantly clear that they have no plans to stop shelling the Kurds on the other side of the border. So despite the “ceasefire”, the truth is that the threat of World War 3 breaking out in the Middle East is greater than ever.
At times it is difficult to see the dividing line between the Turkish military and the radical jihadists that are hopping back and forth across the border with the full support of the Turkish government.
Russian Defense Ministry held a major briefing:
“A whole team of bandits and Turkish leadership [Erdogan’s family as well] stealing oil from their neighbors and are involved in illegal oil trade with ISIS” ~
(1) FULL SPEECH of the Russian Deputy Defence Minister Anatoly Antonov during the briefing “Russian Federation Armed Forces fighting against international terrorist. New data”
International terrorism is the world’s biggest threat today. It is not an imaginary threat.
Things have been pretty stressful of late in Europe’s banking sector. The introduction of the banking union’s bail-in rule has caused bondholders and stockholders to have second thoughts. The Euro Stoxx Banks Index has plunged 20% year-to-date despite the recent rally, and is down 38% since July.
Many of the worst affected bank stocks are those of so-called systemically important institutions. Deutsche Bank’s shares are down 50% from highs last July, while Spanish behemoth Santander’s shares have plumbed depths not seen since the 1990s. Concerns have also emerged about the ability of big lenders to turn a profit in a negative-interest-rate environment, following disappointing earnings by Societe Generale SA, HSBC Holdings Plc and Standard Chartered Plc.
Stomach this: scientists are genetically engineering bacteria which cause food-poisoning to create new opioid painkillers.
It’s OK. I’ll give you time to re-read that sentence.
According to the World Health Organization (WHO), an estimated 5.5 billion people worldwide have little or no access to opioid drugs due to limited supply and high costs. Sure, many people could benefit from powerful painkillers – after surgery, for example, and to take the edge off of severe pain caused by cancer – but here in America, we’ve been giving out opioids like M&Ms for every little ache and pain.
I had an amazing time this weekend sharing the stage at an investment conference in Miami, with other speakers like Robert Kiyosaki, Peter Schiff, and G. Edward Griffin among others.
During a panel on the future of money and banking we discussed how the financial system is rapidly losing control of its own product, i.e. money, in the same way that the music industry has lost control of its product.
In the past there used to be a handful of large record labels that controlled the distribution of music across the world.
In the same way, our financial system was set up for a handful of banks to tightly control the distribution of money across the world to the point that no financial transaction could occur without a bank inserting itself in the middle.
And so we close the door on the leap year-lengthened month of February, which was a particularly good month for gold.
And as always with the end of one month and the beginning of another, there will be a Non-Farm Payrolls report at the end of this week.
Gold is clearly in a symmetrical triangle, trying to decide which way to break, up or down, from this potential ‘cup and handle’ formation. And remember right now it is all potential, not having set a firm handle and broken up and out from that retest.
I included some material from a few years ago that shows the formation when it works in both a textbook and a ‘real life’ example. You may read about it here.
Thierry Vrain, who spent many years as a research scientist and genetically modified organism (GMO) advocate for Agriculture Canada, has recently gone public with his conclusion that GMOs are dangerous for humans, animals and the environment.
“I refute the claims of the biotechnology companies that their engineered crops yield more, that they require less pesticide applications, that they have no impact on the environment and of course that they are safe to eat,” he wrote.
While at Agriculture Canada, Vrain was the scientist designated to address public groups with the message that GMOs were safe.
It appears the music may have finally stopped for one of the world’s largest luxury real estate bubbles: London.
It’s well known that foreign oligarchs love London real estate as a means to launder funds, typically “earned” by soaking their host countries dry via corruption and fraud. This has caused absurd and irrational spikes in high-end residential real estate in the English capital, as well as a flood of new construction. With emerging markets now completely collapsing, the seemingly endless flood of foreign money is drying up, and with it, London real estate.
So has the London real estate bubble popped? Probably.