Submitted by Tyler Durden on 08/22/2015 - 20:59 Last week, in the global currency war’s latest escalation, Kazakhstan instituted a free float for the tenge causing the currency to immediately plunge by some 25%. The rationale behind the move was clear enough. What might not be as clear is how recent events in developing economy FX markets stem from a seismic shift we began discussing late last year - namely, the death of the petrodollar system which has served to underwrite decades of dollar dominance and was, until recently, a fixture of the post-war global economic order.
Debt Is Good: For Funding The Greatest Participation Trophy Ever Created
Submitted by Tyler Durden on 08/23/2015 - 12:00 As the capital markets from Shanghai to New York were melting down in ways hearkening back to the early days of the prior financial crisis - a period of time many would like to forget (or act) as if it never happened - the Nobel Laureate economist Paul Krugman decided it was time once again to weigh in with what will surely be viewed by the so-called “smart crowd” as a brilliant perspective on what ails the world: Not enough debt. He came out blazing with what seems the only bullet in his arsenal as a cure-all for what ever the ailment might be (e.g., debt.) as he argues this view in his latest: Debt Is Good.
Gulf Markets Melting Down: Saudi Arabia Plunges 7%, Dubai Sold
Submitted by Tyler Durden on 08/23/2015 - 11:20 Following the end of a horrible week for petroleum importers (not to mention shale producers) despite WTI briefly dipping under $40 (wasn't this supposed to be great news for the US economy?) we have the start of a just as ugly week for the Persian Gulf oil exporters, whose Sunday market open can be described as a continuation of last week's broad risk carnage, and where Saudi Arabia, until recently the region's best performing market, is now down 10% for the year and down 30% compared to 12 months ago.
Television stations across the country are being flooded with $6 million
of advertisements from a group called the “American Security
Initiative” urging citizens to call their U.S. Senators and oppose the
nuclear deal with Iran.Though the American Security Initiative does not reveal donor information, thepresident of the new group, former Sen. Norm Coleman, R-Minn., is a registered lobbyist for Saudi Arabia. Coleman’s firm, Hogan Lovells, is on retainer to the Saudi Arabian monarchy for $60,000 a month. In July 2014, Coleman described his work as “providing legal services to the Royal Embassy of Saudi Arabia” on issues including “legal and policy developments involving Iran and limiting Iranian nuclear capability.”
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from buddha28’s channel
ht/WhatReallyHappened.com
S&P 500 has increased on the back of a massively expanding Fed balance sheet.
from MyBudget360.com:
The casino effect of Wall Street is being played out in full. The Fed balance sheet recently stopped growing at an astounding $4.5 trillion. This is the first time in nearly three years that the balance sheet has slowed down in large part for the oncoming rate hikes that seem to never materialize. The market is largely funded by a few and wealth concentration has increased over the last decade into fewer hands. You need a buyer if you want to sell so many large investors are unloading inflated stocks, real estate, and bonds onto unsuspecting dupes. In China, a large part of the public jumped into the market and many only have an elementary school education. Today many are getting an education on the casino nature of the stock markets. In the US a large part of the bull market has come from the Fed expanding its balance sheet to ungodly proportions. The Fed balance sheet since the financial crisis has grown from $800 billion (mostly Treasuries) to $4.5 trillion of QE junk and asset swaps that are still lingering. The public realizes this is one giant charade and that is why they are revolting in the political arena.
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ht/WhatReallyHappened.com
from MyBudget360.com:
The casino effect of Wall Street is being played out in full. The Fed balance sheet recently stopped growing at an astounding $4.5 trillion. This is the first time in nearly three years that the balance sheet has slowed down in large part for the oncoming rate hikes that seem to never materialize. The market is largely funded by a few and wealth concentration has increased over the last decade into fewer hands. You need a buyer if you want to sell so many large investors are unloading inflated stocks, real estate, and bonds onto unsuspecting dupes. In China, a large part of the public jumped into the market and many only have an elementary school education. Today many are getting an education on the casino nature of the stock markets. In the US a large part of the bull market has come from the Fed expanding its balance sheet to ungodly proportions. The Fed balance sheet since the financial crisis has grown from $800 billion (mostly Treasuries) to $4.5 trillion of QE junk and asset swaps that are still lingering. The public realizes this is one giant charade and that is why they are revolting in the political arena.
Read More
from Wolf Street:
This wasn’t supposed to happen. The week was already on a crummy
downhill path globally, and emerging-market currencies were blowing up,
when on Friday in China the Caixin’s Purchasing Manager’s Index hit the
worst level since March 2009; manufacturing is sinking deeper into the
mire.
So the Shanghai stock index plunged 4.3% for the day, and 11.5% for the week, to 3,508, closing at the same level as the bottom of its July rout.
The entire machinery that the Chinese government and the People’s Bank of China had set in motion to bail out the markets during the July rout, which had worked for a couple of weeks, has now proven to be useless. And the markets, thought to be controllable by fiat or manipulation, suddenly regained a will of their own.
Read More
This wasn’t supposed to happen. The week was already on a crummy
downhill path globally, and emerging-market currencies were blowing up,
when on Friday in China the Caixin’s Purchasing Manager’s Index hit the
worst level since March 2009; manufacturing is sinking deeper into the
mire.So the Shanghai stock index plunged 4.3% for the day, and 11.5% for the week, to 3,508, closing at the same level as the bottom of its July rout.
The entire machinery that the Chinese government and the People’s Bank of China had set in motion to bail out the markets during the July rout, which had worked for a couple of weeks, has now proven to be useless. And the markets, thought to be controllable by fiat or manipulation, suddenly regained a will of their own.
Read More
Saudi Arabia Faces Another "Very Scary Moment" As Economy, FX Regime Face Crude Reality
Submitted by Tyler Durden on 08/23/2015 - 10:13 Over the weeks, months, and years ahead we’ll begin to understand more about the fallout from the death of the petrodollar and nowhere is it likely to be more apparent than in Saudi Arabia where widening fiscal and current account deficits have forced the Saudis to tap the bond market to mitigate the FX drawdown that's fueling speculation about the viability of the dollar peg. As Bloomberg reports, the current situation mirrors a "very scary moment" in Saudi Arabia’s history.
No Greatly Anticipated RRR Cut From China, Just More Jawboning: Will It Be Enough
Submitted by Tyler Durden on 08/23/2015 - 09:18 In the aftermath of China's worst manufacturing PMI since the financial crisis, which in turn sent the Shanghai Composite crashing to the "hard floor" level of 3500, below which the PBOC and Beijing officially are seen as having lost control, virtually every China expert and strategist rushed to defend China's policymakers (and its stock market) with predictions that an RRR cut as large as 100 bps is imminent, and would take place as soon as this weekend, a much-needed move to calm nerves that China is in control. it did not.
This spring, traders and analysts working deep in the global swaps
markets began picking up peculiar readings: Hundreds of billions of
dollars of trades by U.S. banks had seemingly vanished.The vanishing of the trades was little noted outside a circle of specialists. But the implications were big. The missing transactions reflected an effort by some of the largest U.S. banks — including Goldman Sachs, JP Morgan Chase, Citigroup, Bank of America, and Morgan Stanley — to get around new regulations on derivatives enacted in the wake of the financial crisis, say current and former financial regulators.
Read More…
While the Republican Party had poo pooed those of us who have demanded
the fraudulent documents of Barack Hussein Obama be investigated, one
must remember who the first birthers were… Bill and Hillary Clinton.
They were the first to question whether or not Barack Obama was a
natural born citizen or even a citizen of the united States at all. This
is a question that must be pressed upon Mrs. Clinton in the coming days
and her answer could possibly put the Democrat Party in turmoil.Read More
from Ron Gibson:
from Western Journalism:
Days after Republican presidential candidate Donald Trump offered an
immigration plan that would power down a visa program heavily used by
America’s technology superstar companies, a pro-immigration reform group
founded by Facebook founder Mark Zuckerberg has replied by claiming
Trump’s plan would cause vast economic devastation.
“What’s absurd is not just these ‘plans,’ but that those who would seek to represent Americans as president are falling all over themselves to support backward policies that would rip apart American families and collapse our economy,” said a statement posted by FWD.us. President Todd Schulte.
Read More
Days after Republican presidential candidate Donald Trump offered an
immigration plan that would power down a visa program heavily used by
America’s technology superstar companies, a pro-immigration reform group
founded by Facebook founder Mark Zuckerberg has replied by claiming
Trump’s plan would cause vast economic devastation.“What’s absurd is not just these ‘plans,’ but that those who would seek to represent Americans as president are falling all over themselves to support backward policies that would rip apart American families and collapse our economy,” said a statement posted by FWD.us. President Todd Schulte.
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from Truth Never Told:
from CullSilver:
em>by South Front, Global Research:
DPR
Intelligence has released a plan of Kiev to break the Minsk agreements
and start a full-scale military operation in Donbass. After artillery
preparation fire against positions of the DPR Armed Forces, Kiev
military will start an offensive from the Mariupol and Debaltsevo
sectors in the direction of the Uspenka settlement to take control of
the border with Russia and prevent locals’ from fleeing to Russia.
At the very same moment, Kiev forces will advance in the direction of Ilovaisk to encircle Donetsk from the South and North.
In the Lugansk direction, pro-Kiev militants are planning to exercise separate military actions against LPR Armed Forces. The aims are to move to block the border with Russia and exclude capacity of LPR military to provide support in the DPR battle ground. Kiev strategists hope to defeat the defenders of Donbass and to destroy people’s republics on account of these actions.
Read More…
DPR
Intelligence has released a plan of Kiev to break the Minsk agreements
and start a full-scale military operation in Donbass. After artillery
preparation fire against positions of the DPR Armed Forces, Kiev
military will start an offensive from the Mariupol and Debaltsevo
sectors in the direction of the Uspenka settlement to take control of
the border with Russia and prevent locals’ from fleeing to Russia.At the very same moment, Kiev forces will advance in the direction of Ilovaisk to encircle Donetsk from the South and North.
In the Lugansk direction, pro-Kiev militants are planning to exercise separate military actions against LPR Armed Forces. The aims are to move to block the border with Russia and exclude capacity of LPR military to provide support in the DPR battle ground. Kiev strategists hope to defeat the defenders of Donbass and to destroy people’s republics on account of these actions.
Read More…
from ZenGardner:
The concept of deliberately controlled opposition eludes public
awareness to an amazing degree. It’s similar to the brazen reality of
false flag operations, the epitome of carefully planned societal
manipulation by unseen forces who have no regard for the human condition
other than to control it – those who are more than willing to attack
their own to provoke a desired response.
This is so very similar to the slogan of the nefarious Mossad: “By way of deception, thou shalt do war.” The Jesuits are no better and on the same page. Nor is the CIA and a plethora of other deliberately obscured agencies.
Read More
The concept of deliberately controlled opposition eludes public
awareness to an amazing degree. It’s similar to the brazen reality of
false flag operations, the epitome of carefully planned societal
manipulation by unseen forces who have no regard for the human condition
other than to control it – those who are more than willing to attack
their own to provoke a desired response.This is so very similar to the slogan of the nefarious Mossad: “By way of deception, thou shalt do war.” The Jesuits are no better and on the same page. Nor is the CIA and a plethora of other deliberately obscured agencies.
Read More
An Epic Wall Street Rant
from Bullish Money:
In a matter of two days, the Dow Jones Industrial Average lost nearly 900 points, making it the worst selloff in the markets since 2011. However, given the Death Cross harbinger, the demographic risk, and the global economic slowdown — particularly in China and Europe — we can’t, nor should we, depend on a quick bounce back.
from Bullish Money:
In a matter of two days, the Dow Jones Industrial Average lost nearly 900 points, making it the worst selloff in the markets since 2011. However, given the Death Cross harbinger, the demographic risk, and the global economic slowdown — particularly in China and Europe — we can’t, nor should we, depend on a quick bounce back.
The history of the Dow Jones illustrates that we ignore ‘death cross’ signals at our own financial peril
from Josh Enomoto, Investor Place:
Brian Sullivan of CNBC fame is clearly not a believer. In his Power Lunch segment, the usually agreeable on-air personality mockingly referred to the dreaded death cross in the Dow Jones Industrial Average as a “life cross” instead.
I wouldn’t be so quick to agree.
From a pure numbers perspective, a death cross occurs when the index’s shorter-term, 50-day moving average drops below its longer-term equivalent, the 200-day MA. Theoretically, the Dow Jones death cross forewarns volatility, but to Mr. Sullivan’s point, the harbinger was denied the last two times the cross was flashed.
Read More
from Josh Enomoto, Investor Place:
Brian Sullivan of CNBC fame is clearly not a believer. In his Power Lunch segment, the usually agreeable on-air personality mockingly referred to the dreaded death cross in the Dow Jones Industrial Average as a “life cross” instead.I wouldn’t be so quick to agree.
From a pure numbers perspective, a death cross occurs when the index’s shorter-term, 50-day moving average drops below its longer-term equivalent, the 200-day MA. Theoretically, the Dow Jones death cross forewarns volatility, but to Mr. Sullivan’s point, the harbinger was denied the last two times the cross was flashed.
Read More
from HighImpactFlix:
Updated research into predictive medicine combined with apps to achieve “mental health intervention.”Predictive technology is exploding. The arrival of Big Data initiatives by government, as well as a massive industry of data brokers is not only putting privacy at risk, but is offering those with access to the information unprecedented ways to micromanage our lives.
Most people now seem resigned to the surveillance of our communications devices, which have become so intertwined with modern efficiency, economics and knowledge that there are real tradeoffs when choosing a fully opt-out lifestyle. Wearable gadgets add a new layer still, and are being bought into at record pace, thus donating the information that isn’t already being stolen.
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