The Three Stooges...
Submitted by Tyler Durden on 04/10/2016 - 21:15
"In the afternoon, the president will meet with Federal Reserve Chair Janet Yellen to discuss the state of the American and global economy, Wall Street reform, and the long-term economic outlook; the vice president will also attend."
Submitted by Tyler Durden on 04/10/2016 - 17:10
Italy is the “too big to fail”, “elephant in the room”. Should Italy try Austria’s solution, it presumably would cause a “chain reaction with ripple effects that would be felt across the European banking system.” Instead, officials will attempt to “ringfence” the problem, hoping to “sweep it under the rug” where presumably a “€360bn pile of non-performing loans” will cure itself, eliminating the need for additional bail-ins
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Submitted by Tyler Durden on 04/10/2016 - 21:15
"In the afternoon, the president will meet with Federal Reserve Chair Janet Yellen to discuss the state of the American and global economy, Wall Street reform, and the long-term economic outlook; the vice president will also attend."
Italy Seeks "Last Resort" Bailout Fund To "Ringfence" Troubled Banks, Meeting Monday
Submitted by Tyler Durden on 04/10/2016 - 17:10
Italy is the “too big to fail”, “elephant in the room”. Should Italy try Austria’s solution, it presumably would cause a “chain reaction with ripple effects that would be felt across the European banking system.” Instead, officials will attempt to “ringfence” the problem, hoping to “sweep it under the rug” where presumably a “€360bn pile of non-performing loans” will cure itself, eliminating the need for additional bail-ins
CEO Keith Neumeyer: "There's Going To Be A Major Revolt If We See Negative Rates"
Submitted by Tyler Durden on 04/10/2016 - 20:38 According to Keith Neumeyer in his latest interview with SGT Report, that could spell disaster for socio-economic stability. Neumeyer, who is the CEO of one of the world’s top primary silver producers First Majestic Silver and the Chairman of mineral bank firm First Mining Finance, says that should The Fed and government policy makers implement negative interest rates and continue on their current course of bailing out big business while impoverishing average Americans, we could well see riots in the streets.Blackrock Turns Its Back On Japan Leaving Kuroda Scrambling
Submitted by Tyler Durden on 04/10/2016 - 20:32 Things are going from bad to worse for the efficacy of the grand - and failed from the beginning - experiment known as Abenomics. As Bloomberg reports, Larry Fink's Blackrock has changed its stance on investing in Japan, and joins Citigroup, Credit Suisse, and LGT Capital Partners, the $50 billion asset manager based in Switzerland in their decision to head for the exits. Ironically, Blackrock's decision comes only a few months after blogging about "The Case for Investing in Japan", in which they explicitly cited increased demand for Japanese stocks.Japan Says G-20 Accord Barring FX Devaluations Does Not "Rule Out Intervention" In The Yen
Submitted by Tyler Durden on 04/10/2016 - 20:14 Earlier today, Japan's government spokesman Suga came as close as possible to admitting that there was in fact a tacit "Shanghai Accord" agreement when he said that the Group of 20's agreement to avoid competitive currency devaluation "does not mean Japan cannot intervene in response to one-sided currency moves." It got better: in an interview with Reuters Suga added that Japanese Prime Minister Shinzo Abe's comment to the Wall Street Journal last week that countries should avoid "arbitrary intervention," was misunderstood and does not rule out intervention for Japan, Suga said.
by Jim Willie, GoldSeek:
The gold price didn’t do much of anything on Friday. The low tick came about 11:20 a.m. BST in London—and from there it chopped upwards to its high tick, which came just after the COMEX close in New York—and the high tick was only a dollar or so above where it closed in New York on Thursday afternoon. From there, gold was sold down for a small loss on the day.
The low and high ticks are barely worth looking up, but the CME Group reported them as $1,231.00 and $1,244.60 in the June contract.
Gold finished the Friday session at $1,233.40 spot, down $1.90 from Thursday’s close. Net volume was 121,500 contracts, which wasn’t overly heavy. But then again it wasn’t exactly light, either.
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The gold price didn’t do much of anything on Friday. The low tick came about 11:20 a.m. BST in London—and from there it chopped upwards to its high tick, which came just after the COMEX close in New York—and the high tick was only a dollar or so above where it closed in New York on Thursday afternoon. From there, gold was sold down for a small loss on the day.
The low and high ticks are barely worth looking up, but the CME Group reported them as $1,231.00 and $1,244.60 in the June contract.
Gold finished the Friday session at $1,233.40 spot, down $1.90 from Thursday’s close. Net volume was 121,500 contracts, which wasn’t overly heavy. But then again it wasn’t exactly light, either.
Read More
Obama Defends Hillary In Email Scandal: "There's Classified And There's Classified"
Submitted by Tyler Durden on 04/10/2016 - 19:04 Following Hillary’s recent interview with Matt Lauer, in which she very boldly declared she’ll never be seen in handcuffs, none other than President Obama weighed in on the topic. In an interview with Chris Wallace, the President discussed his thoughts around Hillary Clinton’s email debacle. As Obama explains: "there’s classified, and there’s classified. There’s stuff that’s really top secret, top secret, and then there’s just stuff being presented to the President or Secretary of State."Caught On Tape: U.S. Plane Allegedly Drops Weapons for ISIS Militants in Iraq
Submitted by Tyler Durden on 04/10/2016 - 19:37"It's Pure Chaos Now; There Is No Way Back" - Venezuela Hits Rock Bottom As Its Morgues Overflow
Submitted by Tyler Durden on 04/10/2016 - 17:37 "Now things are worse than ever," says Yuli Sánchez. "They kill people and no one is punished while families have to keep their pain to themselves."... "This is now wilder than the wild west."... “Venezuela is pure chaos now. It seems to me there is no way back,” the former policeman says.Austria Just Announced A 54% Haircut Of Senior Creditors In First "Bail In" Under New European Rules
Submitted by Tyler Durden on 04/10/2016 - 13:58 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.This Vancouver Home Just Sold For More Than $1 Million Above The Asking Price
Submitted by Tyler Durden on 04/10/2016 - 18:28Guest Post: The U.S. Dollar - Return Of The King?
Submitted by Tyler Durden on 04/10/2016 - 18:04 The US Dollar Index is sitting at 94.62, just above a critical support zone at 93-94. Meanwhile, the Trade-Weighted Dollar Index has pulled back ~3.4% from its high on Jan20’16. It is hard to tell that long USD is a consensus trade because investors have lost their conviction."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 - 16:59 "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 HendryBarclays Warns "Grexit" May Return This Summer While Tsipras "Demonizes" IMF
Submitted by Tyler Durden on 04/10/2016 - 16:40 "We continue to think Greece has the potential to return to the headlines, and we do not rule out the prospect of “Grexit” returning... We note the more fragile European political environment (Dutch referendum, UK’s EU referendum, likely snap elections in Spain, key elections in France and Germany in 2017) compared to previous episodes, and the possibility that the increased noise around Greece could potentially influence the UK referendum on EU membership. Furthermore, the ongoing migration crisis in which Greece plays a central role is exacerbating tensions at both domestic and European levels."Did The Canary Of New York's Luxury Housing Market Just Die: Real Estate Developer Files For Bankruptcy
Submitted by Tyler Durden on 04/10/2016 - 16:18 The Bauhouse Group has filed bankruptcy for BH Sutton Mezz LLC, their entity that was to build out a 78 floor luxury condominium tower at Sutton Place, located on Manhattan’s Upper East Side. The bankruptcy comes on the heels of foreclosure efforts by Gamma Real Estate, who alleges that Bauhouse has defaulted on a loan of roughly $147 million.Japan Needs A Stronger Dollar, China Wants A Weaker Dollar: The Fed Can't Please Both
Submitted by Tyler Durden on 04/10/2016 - 16:10 The FX market is about to blow up in the Fed's face, and there's nothing they can do about it. What central banks fear most are markets that are not tightly controlled by central banks. The world's central banks are about to sit down to a banquet of consequences arising from seven long years of relentless manipulation.
from The News Doctors:
Guns & Butter investigates the relationships among capitalism, militarism and politics. Maintaining a radical perspective in the aftermath of the September 11th attacks, Guns & Butter reports on who wins and who loses when the economic resources of civil society are diverted toward global corporatization, war, and the furtherance of a national security state. Bonnie Faulkner has produced and hosted this weekly, one-hour public affairs program on KPFA and WBAI radio stations which are part of the Pacifica Network, as non-commercial, listener-sponsored radio. Her show is pre-produced and covers many different subjects as noted above. The program is also supported by the efforts of dedicated volunteers. They contribute their time to help with various aspects of the show and website. Click here to support KPFA and Guns & Butter.
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Guns & Butter investigates the relationships among capitalism, militarism and politics. Maintaining a radical perspective in the aftermath of the September 11th attacks, Guns & Butter reports on who wins and who loses when the economic resources of civil society are diverted toward global corporatization, war, and the furtherance of a national security state. Bonnie Faulkner has produced and hosted this weekly, one-hour public affairs program on KPFA and WBAI radio stations which are part of the Pacifica Network, as non-commercial, listener-sponsored radio. Her show is pre-produced and covers many different subjects as noted above. The program is also supported by the efforts of dedicated volunteers. They contribute their time to help with various aspects of the show and website. Click here to support KPFA and Guns & Butter.
Read More
by Mac Slavo, SHTFPlan:
Mass layoffs and closures aren’t just a phenomenon in the oil industry. In a new micro-documentary from Future Money Trends trend analyst Daniel Ameduri explains that anemic economic demand has driven major mining companies around the globe to reduce operations in the mining of copper, zinc and other base metals. And because these operations are responsible for the secondary mining of one of the world’s most necessary precious metals, as mines close their doors we will see a massive supply crunch in silver.
Coupled with silver’s demand as a hedge against monetary instability, Ameduri says silver is set to rise to $100 per ounce or more over the next 24 months.
Read More
Mass layoffs and closures aren’t just a phenomenon in the oil industry. In a new micro-documentary from Future Money Trends trend analyst Daniel Ameduri explains that anemic economic demand has driven major mining companies around the globe to reduce operations in the mining of copper, zinc and other base metals. And because these operations are responsible for the secondary mining of one of the world’s most necessary precious metals, as mines close their doors we will see a massive supply crunch in silver.
Coupled with silver’s demand as a hedge against monetary instability, Ameduri says silver is set to rise to $100 per ounce or more over the next 24 months.
Read More
by Joshua Krause, The Daily Sheeple:
As time goes on the city of Chicago is rapidly turning into a crime infested hell hole, rife with poverty, debt, and racial tensions. The city is well on its way to joining the likes of Detroit, and there may be no escaping that eventuality. That’s why many of the city’s wealthy elites are getting the hell out of there.
The Chicago Tribune reports that roughly 3,000 millionaires have left the city over the past year alone, which amounts to about 2 percent of their wealthy population.
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As time goes on the city of Chicago is rapidly turning into a crime infested hell hole, rife with poverty, debt, and racial tensions. The city is well on its way to joining the likes of Detroit, and there may be no escaping that eventuality. That’s why many of the city’s wealthy elites are getting the hell out of there.
The Chicago Tribune reports that roughly 3,000 millionaires have left the city over the past year alone, which amounts to about 2 percent of their wealthy population.
Read More
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