Submitted by Tyler Durden on 04/10/2016 - 12:58
Following a decision by the Austrian Banking Regulator, the Finanzmarktaufsicht or Financial Market Authority, Austria officially became the first European country to use a new law under the framework imposed by Bank the European Recovery and Resolution Directive to share losses of a failed bank with senior creditors as it slashed the value of debt owed by Heta Asset Resolution AG.
"I Used To Be A Big Deal... And Then A Billion Dollars Walked Out The Door" - Hugh Hendry's Sad Story
Submitted by Tyler Durden on 04/10/2016 - 12:19 "A funny thing happened at the end of 2013 I wrote a letter to my new clients and I began with the preface "what if I was to tell you that I'd become bullish on equities; is that something you'd be interested in." The resounding message no. A billion dollars walked out the door.... "What, really, you're bullish?" - Hugh Hendry
Saudi Authorities Halt Soccer Game To Cut Off Player's "Anti-Islamic" Hair
Submitted by Tyler Durden on 04/10/2016 - 13:30 The ultra-conservative, Wahhabism-practicing kingdom of Saudia Arabia had their sports authorities stop a match on Friday to cut a player's hair because they deemed it "anti-Islamic." A video posted online on Friday showed one player being given a last-minute haircut before a fixture to comply with Saudi Football Federation guidelines.
Myths About Gold That Just Won’t Die
Submitted by Tyler Durden on 04/10/2016 - 11:58 The mainstream loves to hate gold, but then again, these are the same people who were bearish on gold all the way up from $250 to $1,900 (some turned bullish shortly before it topped, but that’s another story). What actually explains all this contempt for gold is the fact that it remains the main antagonist of the current statist centrally planned fiat money system. It’s as simple as that.Stunning Video Reveals Why You Shouldn't Trust Anything You See On Television
Submitted by Tyler Durden on 04/10/2016 - 11:54
Your Communist News...
Life Under President Trump: The Boston Globe's Front Page Satire
Submitted by Tyler Durden on 04/10/2016 - 11:22 This morning, the Boston Globe published a satirical front page predicting headlines about a Donald Trump presidency one year from today, alongside a “Stop Trump” editorial. The fake front page will be the lead of the Globe’s Sunday Ideas section and "is a work of political satire and commentary produced by the Globe's Editorial Board, not the newsroom.”
Let The Carpet Bombing Begin: U.S. Deploys B-52s In Fight Against ISIS
Submitted by Tyler Durden on 04/10/2016 - 11:17 Trump may have been on to something. According to Reuters, for the first time in 25 years, the U.S. Air Force deployed B-52 bombers to Qatar on Saturday to join the fight against Islamic State in Iraq and Syria. This is the first time the B-52 has been based in the Middle East since the end of the Gulf War in 1991. And, since the B-52's core competency is bombing, usually with the "carpet" adverb before it, one may wonder if it wasn't Trump's suggestion to unleash hell on ISIS that prompted the US military to make this move.
The Arrogance And Abuse Of Power - The Progressive Push Toward "Soft" Tyranny
Submitted by Tyler Durden on 04/10/2016 - 10:50 Through all the progressive's rhetoric about "democracy" and "equality" and "social justice" and "diversity," theirs is a political philosophy and public policy ideology of elitism, hubris, and authoritarianism dominated by the idea and ideal of remaking human beings, human relationships and the structure and order of society into redesigned patterns and shapes that reflect their notion of how people should live, work, associate and earn a living. That is why the modern liberal or progressive represents the face of a contemporary political, economic and cultural "soft" tyranny.
Has The Global Earnings Recession Finished, Morgan Stanley Asks And Answers
Submitted by Tyler Durden on 04/10/2016 - 10:26 Globally we calculate that earnings are currently falling in 29 of the largest 30 MSCI ACWI markets, with the sole exception being Switzerland. For DM this is the seventh earnings recession since the early 1970s. If it ends now it will tie for the least severe in percentage decline terms and win for being the shortest in months of duration of the last 45 years. The longest earnings recession was that which ran from August 1989 to June 1993 while the deepest was the 60% decline in earnings during the GFC.
Ukraine Prime Minister Resigns, Says "Destabilization Inevitable" Without New Government
Submitted by Tyler Durden on 04/10/2016 - 09:44 Moments ago Ukraine's embattled prime minister Arseniy Yatsenyuk announced that he had resigned, according to local media reports. "I decided to resign from the post of Ukraine's prime minister. On Tuesday, April 12, the decision will be submitted to the Verkhovna Rada [Ukrainian parliament]. We cannot allow one thing [to happen] — the destabilization of the executive power during the war [in the southeastern region of Donbass]. This prospect is inevitable, if after the resignation, a new government is not formed."
"Where Else Can I Put My Money?" - China Starts Arresting People As Crisis It Created Comes Full Circle
Submitted by Tyler Durden on 04/10/2016 - 09:21 Just like their foray into stocks, Chinese investors are finding out that it isn't easy to make money in short-term lending either. Defaults are on the rise and China's subprime lending bubble has burst. And just like it responded to "malicious short sellers" when stocks went down, China is now arresting those involved in the shadow banking world.
Why USDJPY Matters (Or The Carry Collapse Cometh)
Submitted by Tyler Durden on 04/09/2016 - 21:40 The yen’s strength may be tripping up U.S. stocks as the collape of the BoJ-inspired carry trade pressures leverage and risk-taking around the world. As Bloomberg notes, in the last 10 instances the yen rallied at least 1 percent against the dollar, the Standard & Poor’s 500 Index lost 0.8 percent on average, the most since at least 2008.
"It's Just An Illusion" Santelli & Schiff Slam Fed-Watchers' "Blind-Eye" To Yellen's "Phony Recovery"
Submitted by Tyler Durden on 04/09/2016 - 21:17 "This economy would have to improve dramatically to get to mediocre," warns Schiff, otherwise, as Santelli rages they would be hiking rates and talking confidently, adding that either Fed-watchers are "going along with it to earn a paycheck" - just as they did in 2008 - or "they are ignorant." After just over 3 minutes of painful reality checks, Schiff sums up it all up perfectly, reflecting on the Sanders-Trump phenomena, "behind all those phony jobs numbers are a lot of angry Americans as everyone pretends this is a legitimate recovery."
Department Of Education - Our Work Here Is Done
Submitted by Tyler Durden on 04/09/2016 - 21:15 It appears a few children were left behind...
by Dave Hodges, The Common Sense Show:
It is an old issue, but with a new revelation by the most credible insider source to date. Recently, I was contacted by Dr. Paul Batcho. Batcho is a former DARPA senior scientist who worked at Los Alamos and held a top secret security clearance. In short, Batcho asserts that clandestine forces are purposely engaging in “acts of terrorism” against the general public through emission of dangerous frequencies from cell phone and microwave towers in the St. Petersburg/Orlando/ Tampa, Florida area.
Before launching into a revelation of the stunning claims presented to me by Dr. Batcho, let’s establish his crediblity as a reliable witness.
Read More
It is an old issue, but with a new revelation by the most credible insider source to date. Recently, I was contacted by Dr. Paul Batcho. Batcho is a former DARPA senior scientist who worked at Los Alamos and held a top secret security clearance. In short, Batcho asserts that clandestine forces are purposely engaging in “acts of terrorism” against the general public through emission of dangerous frequencies from cell phone and microwave towers in the St. Petersburg/Orlando/ Tampa, Florida area.
Before launching into a revelation of the stunning claims presented to me by Dr. Batcho, let’s establish his crediblity as a reliable witness.
Read More
from Wolf Street:
Done in by a historic construction boom.
Few housing markets are crazier than San Francisco’s. But what had to happen is starting to happen: while house prices continue to soar, a phenomenal building boom is causing a condo glut that will reach dizzying proportions as new condo towers are completed. And now the dynamics of the market have reversed.
The median condo price — half sell for more, half sell for less – was $1,100,000 in the first quarter for sales reported to Multiple Listing Services (MLS) by April 5, according to Paragon Real Estate Group. Up 70% from the first quarter in 2012. But it’s down from $1,107,500 in Q4. Very unusual: the last time the median price did not jump from Q4 to Q1 was in Q1 2012, at the end of the last downturn. For example, over the same period a year ago, condo prices jumped 8.5%!
Read More
Done in by a historic construction boom.
Few housing markets are crazier than San Francisco’s. But what had to happen is starting to happen: while house prices continue to soar, a phenomenal building boom is causing a condo glut that will reach dizzying proportions as new condo towers are completed. And now the dynamics of the market have reversed.
The median condo price — half sell for more, half sell for less – was $1,100,000 in the first quarter for sales reported to Multiple Listing Services (MLS) by April 5, according to Paragon Real Estate Group. Up 70% from the first quarter in 2012. But it’s down from $1,107,500 in Q4. Very unusual: the last time the median price did not jump from Q4 to Q1 was in Q1 2012, at the end of the last downturn. For example, over the same period a year ago, condo prices jumped 8.5%!
Read More
Most people have no idea what really happens when an economy collapses, let alone how to prepare…
by Doug Casey, International Man:
You’ve heard the axiom “History repeats itself.” It does, but never in
exactly the same way. To apply the lessons of the past, we must
understand the differences of the present.
During the American Revolution, the British came prepared to fight a successful war—but against a European army. Their formations, which gave them devastating firepower, and their red coats, which emphasized their numbers, proved the exact opposite of the tactics needed to fight a guerrilla war.
Before World War I, generals still saw the cavalry as the flower of their armies. Of course, the horse soldiers proved worse than useless in the trenches.
Read More
by Doug Casey, International Man:
You’ve heard the axiom “History repeats itself.” It does, but never in
exactly the same way. To apply the lessons of the past, we must
understand the differences of the present.During the American Revolution, the British came prepared to fight a successful war—but against a European army. Their formations, which gave them devastating firepower, and their red coats, which emphasized their numbers, proved the exact opposite of the tactics needed to fight a guerrilla war.
Before World War I, generals still saw the cavalry as the flower of their armies. Of course, the horse soldiers proved worse than useless in the trenches.
Read More
by Pater Tenebrarum, Acting-Man.com:
Myths That Just Won’t Die
Gold just had its best quarter in 30 years. Not surprisingly, gold bears are coming out of the woodwork en masse in the mainstream media and the analyst community (see e.g. this recent write-up by Mish on the Goldman Sachs analyst who has been screaming “short gold” since right before it started rocketing higher in early February). Below we will discuss a specific assertion that tends to be repeated over and over again.
If there is anything in this world that definitely has more lives than a cat, it is bad economics. Just think about it: Here we are, nearly 300 years after John Law drove France and most of continental Europe into utter ruin, and our central bankers are still doing the exact same things Law did. The only difference between John Law and the trifecta of Draghi, Kuroda and Yellen is really the modern-day level of obfuscation and the fact that there is far more wealth that can be destroyed, so it is taking a lot longer.
Read More…
Myths That Just Won’t DieGold just had its best quarter in 30 years. Not surprisingly, gold bears are coming out of the woodwork en masse in the mainstream media and the analyst community (see e.g. this recent write-up by Mish on the Goldman Sachs analyst who has been screaming “short gold” since right before it started rocketing higher in early February). Below we will discuss a specific assertion that tends to be repeated over and over again.
If there is anything in this world that definitely has more lives than a cat, it is bad economics. Just think about it: Here we are, nearly 300 years after John Law drove France and most of continental Europe into utter ruin, and our central bankers are still doing the exact same things Law did. The only difference between John Law and the trifecta of Draghi, Kuroda and Yellen is really the modern-day level of obfuscation and the fact that there is far more wealth that can be destroyed, so it is taking a lot longer.
Read More…
from Liberty Blitzkrieg:
As I wrote on Monday, ever since I started reading about the Panama Papers “leak” something kept rubbing me the wrong way. From the absence of any well known, politically powerful Americans on the list, to the anonymous nature of “John Doe” as whistleblower and the clownish reporting from Soros and USAID affiliated organizations, the whole thing stunk from the start.
The first plausible theory I came across attempting to explain the strangeness of it all was proposed by Craig Murray, and it basically went something like this. The leaker is a real whistleblower, but he placed the information in the wrong hands, therefore the organizations and journalists reporting on the story were not giving us the whole truth.
Read More…
As I wrote on Monday, ever since I started reading about the Panama Papers “leak” something kept rubbing me the wrong way. From the absence of any well known, politically powerful Americans on the list, to the anonymous nature of “John Doe” as whistleblower and the clownish reporting from Soros and USAID affiliated organizations, the whole thing stunk from the start.
The first plausible theory I came across attempting to explain the strangeness of it all was proposed by Craig Murray, and it basically went something like this. The leaker is a real whistleblower, but he placed the information in the wrong hands, therefore the organizations and journalists reporting on the story were not giving us the whole truth.
Read More…
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