Thursday, December 29, 2016

Obama Under "Intense Pressure" To Release Evidence Proving Russians Hacked The Election

“My guess is they will have information that indicates course of conduct and links to activities that suggest motivation,” but no smoking gun that will convince those who aren’t already convinced, a White House official said.

Three Mini-Bubbles Are Bursting

The world has gotten so used to ultra-low interest rates that even economists and money managers seem to be shocked by what happens when rates start creeping back towards normal levels. Some of the mini-bubbles that formed in an essentially free-money environment are now starting to leak.

Shhh! Don’t Tell this Bank Regulator We’ve Got a Derivatives Problem

by Pam Martens and Russ Martens, Wall St On Parade:
Each quarter the Office of the Comptroller of the Currency (OCC) releases a detailed report showing the exposure to derivatives at U.S. banks. The most recent report for the quarter ending June 30, 2016 indicates that U.S. bank holding companies have a total notional amount (face amount) of derivatives of $252.6 trillion. Of that total, just five Wall Street banks hold $230 trillion or 91 percent, underscoring how massively concentrated this high risk game has become. Those five banks are: Citigroup, JPMorgan Chase, Goldman Sachs Group, Bank of America and Morgan Stanley.
There are numerous U.S. units of foreign banks on the derivatives list of bank holding companies but one name is conspicuously missing: the German giant, Deutsche Bank. Without knowing how much potential exposure U.S. banks have to Deutsche Bank in the derivatives arena, the U.S. public is left completely in the dark on just how dangerously exposed our banks are, once again, to the potential failure of a systemically interconnected counterparty. Here’s what we do know – no thanks to the OCC’s copious reports.
Read More

China Cuts Dollar Weight In FX Basket In Desperate Attempt To "Project Image Of Yuan Stability"

With the Yuan's relentless plunge to all time lows clearly bothering China and threatening to breach  the symbolic level of 7 Yuan to the dollar, overnight Beijing decided to do something about it. Only, instead of actually implementing much needed, and long overdue economic reforms, banking sector deleveraging or financial liberalization, China again took the easy way out.

Soaring Dollar Hits US Trade, Sends Goods Trade Deficit To Highest Since March 2015

Who could have possibly thought that a soaring dollar would have an adverse impact on the US trade deficit, and thus, the US economy. Well, not the Fed, if only for now, because just as the Fed hiked rates only for the second time in a decade, the US advance goods trade deficit soared to the highest since March 2015.


by Joseph P. Farrell, Giza Death Star:
After the Onsen summit between Japanese Prime Minister Shinzo Abe and Russian Federation President Vladimir Putin, I made a basic prediction that the issue of the Kuril islands would not be a stumbling block for Russia and Japan moving forward with lucrative trade deals. There is a simple geopolitical reality driving these events: as US power declines, Japan needs other strong allies, and a secure supply of energy, and Russia is ready to hand with energy resources in Siberia that are close to hand. Russia, in turn, needs Japan as a counter-balance to growing Chinese influence, and also as a financial and technological ally in its long term plans to develop the region. For the foreseeable future, Japan’s and Russia’s geopolitical and financial interests coincide to an amazing degree, and to a degree completely unimaginable just a half a century ago.
Read More

10 Reasons Trump Won't Lead A Nuclear Renaissance

Donald Trump in the White House and Theresa May in 10 Downing Street. They will open the door to more nuclear spending, no doubt. But, despite all the post-election industry euphoria, should we anticipate a full renaissance for U.S. commercial nuclear power?

Narrative Breaks - Continuing Jobless Claims Soar Most Since 2009 Following Trump's Election

This does not fit with the narrative. Continuing Jobless Claims are up over 6% in the weeks following Donald Trump's election - the biggest surge since May 2009.

Montreal Moves To Limit New Restaurants To Protect Existing Restaurants

Here’s your “it’s hard to believe, but true” article of the day..."I don't believe in the free market anymore," says restaurateur Carlos Ferreira. "We have to protect the good restaurants." Ah, yes. The "good" ones. That's clearly an objective question upon which government can and should rule.

Trump On Russian Sanctions: "We Ought To Get On With Our Lives"

With the Obama administration set to unveil a fresh round of sanctions against Russia as soon as today, allegedly in retaliation for the Kremlin's "hacking" of the US elections, President-elect Trump had a few words of his own what he thinks the best steps for the US are: move on.

Putin Announces Syrian Ceasefire Deal, Ready To Start Peace Talks; Obama Snubbed Again

Vladimir Putin said a Syrian cease-fire agreement has been reached with Turkey. Putin said that Russia and Turkey will guarantee the truce, which is set to begin at midnight. The truce would be followed by peace talks between Syrian President Assad's government and the opposition. Sergey Lavrov said that that Donald Trump's administration will be welcome to join the Syrian peace process once he takes office.

George Soros Conjures Hitler In Attack On 'Ascendant Populists', Warns "Democracy Is Now In Crisis"

Open societies are in crisis, and various forms of closed societies – from fascist dictatorships to mafia states – are on the rise. Because elected leaders failed to meet voters’ legitimate expectations and aspirations, electorates have become disenchanted with the prevailing versions of democracy and capitalism. Open society needs defending...

US Selloff Spooks Thinly Traded Global Markets Sending Stocks, Yields, Dollar Lower

One day after the biggest drop in US stocks in two months, global stocks struggled as they tried to close out 2016 on a positive note. The dollar dropped the most in two weeks, sliding alongside bond yields, while oil retreated from its highest close in 17 months. European stocks slid from a 2016 peak on renewed concerns about Italian banks.

The EU Vs. The Nation State?

The question remains, however, why any nation would want to throw out its sovereignty to institutions that are fundamentally unaccountable, that provide no mechanism for reversing direction, and whose only "solution" to problems involves arrogating to itself ever more authoritarian, rather than democratically legitimate, power.

4 Out Of 5 Middle-Aged Brits Are Fat, Lazy Drunks; New Study Finds

"The demands of modern day living are taking their toll on the health of the nation, and it’s those in middle age that are suffering the consequences most, as their health reaches worrying new levels."

Israeli Prime Minister Benjamin Netanyahu Faces Criminal Investigation For Fraud & Bribery

The Times of Israel is reporting that police are calling on Israeli Attorney General Avichai Mandelblit to allow them to open a full criminal investigation against Prime Minister Benjamin Netanyahu.

HuffPo Turns On Obama: He Presided Over The "Destruction Of The Democratic Party"

"You look at the destruction of the Democratic Party under Barack Obama’s leadership and you have to wonder, what was the political -- what were the electoral benefits that he gave to the party? The states are decimated, they lost control of the House and Senate, the governorships are decimated."

2016: The Terrible, Horrible, No Good, Very Bad Year

What a terrible, horrible, no good, very bad year this has been. Endless wars. Toxic politics. Violence. Hunger. Police shootings. Mass shootings. Economic downturns. Political circuses. Senseless tragedies. Loss. Heartache. Intolerance. Prejudice. Hatred. Apathy. Meanness. Cruelty. Poverty. Inhumanity. Greed.

Post-Election Sale

Still too rich?

India Fears Run On Banks: Capital Controls And Withdrawal Limits To Continue

Indian banks are fearful of running out of cash as lines queue up to withdraw money. Bankers say they cannot cope with any sudden increase in demand, and warn against lifting cash withdrawal limits. Speculation is rife that further unorthodox measures are coming...

With China Facing Currency, Liquidity Crises, Ex-PBOC Official Urges Use Of "Nuclear Option"

China has a window from now to President-elect Donald Trump’s inauguration to halt FX intervention and let yuan depreciate to its equilibrium level, Yu Yongding, a former academic member of PBOC’s monetary policy committee, said, providing one possible explanation for bitcoin's 20% surge in the past week.

Contagion Concerns Slam Japanese Financials As Toshiba Crashes 50% In 3 Days

After two days of total carnage in Toshiba stocks, bonds, and credit risk, the bloodbath continues with the once-massive Japanese company is collapsing once again in early trading - now down 50% in 3 days. Following the semiconductor and nuclear business catastrophes, the company had nothing to add regarding today's crash but more worryingly the massive loss of market cap is spreading contagiously to Japanese financials with Sumi down 4%, and MUFG down almost 3%.

VIDEO: 7 Muslim Refugees Set on Fire Man Sleeping on Bench in Berlin

by Tim Brown, Freedom OutPost:
Savages. Why would the West import this culture of violence and hate and kowtow to it?
German outrage after seven young refugees accused of ‘setting homeless man on fire’ at Berlin underground station
The alleged attack occurred as the 37-year-old victim was sleeping on a platform bench
By Chris Kitching, The Mirror, December 26, 2016:
The alleged attack occurred as the 37-year-old victim was sleeping on a platform bench
Read More

The Three Faces of Evil

by Jeff Nielson, Bullion Bulls Canada:
Once upon a time, Western societies boasted prosperity, broad civil liberties, and general adherence to the Rule of Law. This prosperity was not confined to a small minority within these populations (as it is today), but rather was distributed throughout the vast majority.
It is not a coincidence that general prosperity existed simultaneously along side the Rule of Law, rather it is an imperative. Historically, the only time that human societies have exhibited general prosperity is when there is justice. In just societies, economic opportunities are available to all, while economic predation via fraud and other forms of unjust enrichment is closely policed.
Put in opposite terms, in societies which do not adhere to the Rule of Law we inevitably see a law-of-the-jungle culture emerge, where the most powerful (or simply the most unscrupulous) individuals are given free reign to swindle the masses. This is what Western culture represents today.
Read More

What is Henry Kissinger Up To? — Paul Craig Roberts

by Paul Craig Roberts, Paul Craig Roberts:
The English language Russian news agency, Sputnik, reports that former US Secretary of State Henry Kissinger is advising US president-elect Donald Trump how to “bring the United States and Russia closer together to offset China’s military buildup.”
If we take this report at face value, it tells us that Kissinger, an old cold warrior, is working to use Trump’s commitment to better relations with Russia in order to separate Russia from its strategic alliance with China.
China’s military buildup is a response to US provocations against China and US claims to the South China Sea as an area of US national interests. China does not intend to attack the US and certainly not Russia.
Read More


from Harvey Organ:
In silver, the total open interest ROSE by 1144 contracts UP to 163,097 with respect to YESTERDAY’S TRADING. In ounces, the OI is still represented by just less THAN 1 BILLION oz i.e. .816 BILLION TO BE EXACT or 117% of annual global silver production (ex Russia & ex China).
In gold, the total comex gold FELL BY 5,822 contracts DESPITE A RISE IN THE PRICE GOLD ($5.40 with YESTERDAY’S trading ).The total gold OI stands at 401,513 contracts. We are very close to the bottom with respect to OI. Generally 390,000 should do it.
Read More @

Turkey President Erdogan Reveals ISIS Conspiracy Bombshell

by Joshua Enomoto, Crush The Street:

In a stunning about-face, Turkey President Recep Tayyip Erdogan accused the U.S. military industrial complex of providing aid to terrorist groups in Syria, with the most notorious among them being the Islamic State of Iraq and Syria, or ISIS. As reported by Zero Hedge, Turkey has had a troubled relationship with its foreign partners. Last year, Turkey shot down a Russian fighter jet which the government claimed violated its airspace.
Read More

Europe Proposes Confiscating Gold, Cash, Bitcoin, And Prepaid Cards To Fight “Terrorist Financing”

by Claire Bernish, Activist Post:
Following exceedingly unpopular moves by China and India, the European Commission has now proposed to tighten controls on cash and precious metals — going so far as to allow confiscations of gold and assets — of anyone even believed to be associated with terrorism or terrorists.
These confiscations and strictures around personal wealth would be part of the European Union’s “action plan against terrorist financing,” proposed following the terrorist attacks on Paris in November 2015 — except the impetus to apply the measures came when a truck plowed through a bustling Christmas market in Berlin on December 19, killing 12 people and injuring scores more.
It appears the Commission surreptitiously proposed tighter controls on cash and precious metals after the market attack but in just before the holidays — possibly to avoid an acrimonious backlash.
Read More

Just Charts at 2:30

from Jesse’s Café Américain:
This market action is a snooze. Not worth trading except for the very nimble.
Housing appears to be in a number of localized regional bubbles.
Stocks are already in bubble territory.
The economic recovery is thin and overstated to the point of fakery, with little real wage and full time job growth to sustain aggregate domestic demand. With monopolistic pricing in healthcare and other sectors continuing to soar, this is not a recipe for sustainable social interaction, much less a recovery.
Read More…


No comments:

Post a Comment