Submitted by Tyler Durden on 04/18/2016 - 08:14
Hillary Clinton recently blasted the hidden financial dealings exposed in the Panama Papers, but she and her husband have multiple connections with people who have used the besieged law firm Mossack Fonseca to establish offshore entities.
"Investors" Panic-Buy US Open - Stocks Unchanged
Submitted by Tyler Durden on 04/18/2016 - 09:43 This won't end well...
Brazil Buyers Bruised As "Sell The Impeachment News" Slams Stocks, Real
Submitted by Tyler Durden on 04/18/2016 - 09:29 The news of Dilma's impeachment vote kneejerk'd stocks and the real higher overnight as the almost unbelievable gains in the circling-the-economic-drain nation's stock and FX markets extended among the "blood on the streets" dip-buyers. However, things have turned around rather quickly and it appears investors are aggressively selling the news as the collapse of government is suddenly seen as a negative...
Pepsi Earnings Explained For 17-Year-Old Hedge Fund Managers
Submitted by Tyler Durden on 04/18/2016 - 09:15 Just to help 17-year-old hedge fund managers reconcile the confusion generated by Pepsi's two sets of numbers, the ghastly GAAP ghastly, and the nice non-GAAP, the company continued the tradition of dramatically dumbing down everything that happens in the quarter with yet another admission that it knows very well who its main "investor base" is these days, namely "attention-deficited", 17-year-old hedge fund managers (and algos of course), all of whom need a simple, portable story on which to BTFD (or BTFATH).
Is Deutsche Bank’s Gold Manipulation The Main Scam Or Just A Side-Show?
Submitted by Tyler Durden on 04/18/2016 - 08:50 Is Deutsche's gaming of the London precious metals fix the same thing as - or even tangentially related to - the main manipulation of the gold price, which is the practice of central banks “lending” their gold to big commercial banks, which then sell that gold on the open market to depress the price?
by Chris Powell, GATA:
Dear Friend of GATA and Gold:
While the New York Post yesterday took note of Deutsche Bank’s confession to gold and silver market manipulation and its pledge to incriminate other banks — see the report appended — as far as your secretary/treasurer can determine, only Reuters and Bloomberg News, among mainstream financial news organizations, have yet reported the story, not counting the predictably snarky and beside-the-point commentary Friday in the Financial Times by its columnist John Dizard:
http://www.gata.org/node/16385
GATA has alerted most major Western financial news organizations to the Deutsche Bank story, though they were almost certainly fully aware of it already.
Read More
Dear Friend of GATA and Gold:
While the New York Post yesterday took note of Deutsche Bank’s confession to gold and silver market manipulation and its pledge to incriminate other banks — see the report appended — as far as your secretary/treasurer can determine, only Reuters and Bloomberg News, among mainstream financial news organizations, have yet reported the story, not counting the predictably snarky and beside-the-point commentary Friday in the Financial Times by its columnist John Dizard:
http://www.gata.org/node/16385
GATA has alerted most major Western financial news organizations to the Deutsche Bank story, though they were almost certainly fully aware of it already.
Read More
Russia Frustrated After Doha Breakdown: "How Can Iran Be The Reason For Failure When It Wasn't Even Here?"
Submitted by Tyler Durden on 04/18/2016 - 07:43 Russian Energy Minister Alexander Novak spoke to Russian media following the conclusion of the talks, and it was evident he was quite frustrated. Mr. Novak explained that the 11 OPEC states and seven outsiders present during the meeting had spent two months drafting an agreement that would cap oil production at January levels in an effort to stabilize oil prices, and it was all undone by the fact that Saudi Arabia, Qatar, UAE, and "predominantly other Gulf States" insisted that Iran be included in the deal (Iran did not attend the talks).Frontrunning: April 18
- Crude's Losses Drag Ruble, Loonie Lower; Stocks Pare Their Drop (BBG)
- Grand Oil Bargain Is Victim of Saudi Arabia's Iran Fixation (BBG)
- Both Parties’ Presidential Front-Runners Increasingly Unpopular (WSJ)
- It's up to you, New York: state takes center stage in election campaign (Reuters)
- Rousseff Hangs by a Thread After Losing Impeachment Vote (BBG)
- China March home prices rise at fastest rate in two years, top cities boom (Reuters)
Morgan Stanley Profit Plunges By More Than 50% As Trading Revenue Tumbles 40%
Submitted by Tyler Durden on 04/18/2016 - 07:17 Morgan Stanley's results were quite ugly: total revenue of $7.8 billion barely changed from the previous quarter, and was down 21% from Q1 2015, however due to the sharp drop in consensus estimates in recent months, revenues was a "beat" to the $7.76 billion expected. Earnings likewise were ugly, tumbling by 53% from $2.4 billion to $1.1 billion, or $0.55 per share. This too was a beat as a result of a sharp plunge in Q1 EPS expectations in recent months.
Analysts Respond To Doha Meeting Failure: "Blow To Sentiment"
Submitted by Tyler Durden on 04/18/2016 - 07:02 Failure to proceed with crude output freeze plan seen as a "serious blow" to oil-market sentiment by Energy Aspects; Barclays expects mounting tensions between Saudi Arabia and Iran to boost volatility. Separately, Kuwait oil workers strike viewed as price-supportive. Here, courtesy of Bloomberg, is a summary of what analysts have said so far on meeting’s outcome as well as comments on Kuwait:
Futures Wipe Out Most Overnight Losses Following Dramatic Rebound In Crude
Submitted by Tyler Durden on 04/18/2016 - 06:35 Following yesterday's OPEC "production freeze" meeting in Doha which ended in total failure, where in a seemingly last minute change of heart Saudi Arabia and specifically its deputy crown prince bin Salman revised the terms of the agreement demanding Iran participate in the freeze after all knowing well it won't, oil crashed and with it so did the strategy of jawboning for the past 2 months had been exposed for what it was: a desperate attempt to keep oil prices stable and "crush shorts" while global demand slowly picked up. And whether it is central banks, or chronic BTFDers, just 12 hours after oil opened for trading with a loud crash, the commodity has nearly wiped out all losses, and both brent and WTI were down barely 2%, leading to both European stocks and US equity futures virtually unchanged on the session.
"This Will All Blow Up In The Fed's Face," Schiff Warns "Trump's Right, America Is Broke"
Submitted by Tyler Durden on 04/17/2016 - 23:10 "The trigger that's going to really send us into a higher gear is going to be the admission by the Fed that the economy is weak or the markets figure it out on their own. There's not a lot of stimulus left, all they've got is potentially negative rates and a huge round of quantitative easing, and this thing is going to blow up in the Fed's face."
The Real Reason Hillary Clinton Refuses To Release Her Wall Street Transcripts
Submitted by Tyler Durden on 04/17/2016 - 22:30 "It was pretty glowing about us... It’s so far from what she sounds like as a candidate now. It was like a rah-rah speech. She sounded more like a Goldman Sachs managing director."
What If Nobody Showed Up To Vote?
Submitted by Tyler Durden on 04/17/2016 - 22:10 On election day, if fewer people lined up dutifully to choose between aspiring elective emperors, and more people assembled defiantly to decry the empire itself, peace would have much better prospects.
by Michael Snyder, The Economic Collapse Blog:
Over the past 48 hours, our planet has been hit by literally dozens of earthquakes of magnitude 4.0 or greater, and scientists are acknowledging that what is taking place is highly unusual. This strange shaking began toward the end of last week when the globe was struck by five major earthquakes over the space of just two days, and over the weekend the seismic activity just continued to escalate. Very early on Saturday, Japan’s southern island of Kyushu was hit by a magnitude 7.3 earthquake, and on Saturday night a magnitude 7.8 earthquake struck off Ecuador’s Pacific coast. It was the worst earthquake that Ecuador had experienced since 1979, and it was followed by at least 163 aftershocks. Unfortunately, there are indications that what we have seen so far may be just the beginning.
Read More
Over the past 48 hours, our planet has been hit by literally dozens of earthquakes of magnitude 4.0 or greater, and scientists are acknowledging that what is taking place is highly unusual. This strange shaking began toward the end of last week when the globe was struck by five major earthquakes over the space of just two days, and over the weekend the seismic activity just continued to escalate. Very early on Saturday, Japan’s southern island of Kyushu was hit by a magnitude 7.3 earthquake, and on Saturday night a magnitude 7.8 earthquake struck off Ecuador’s Pacific coast. It was the worst earthquake that Ecuador had experienced since 1979, and it was followed by at least 163 aftershocks. Unfortunately, there are indications that what we have seen so far may be just the beginning.
Read More
from Washington’s Blog:
The desire to punish for the joy of punishing, for revenge, or for racist or sadistic domination has always had certain difficulties hiding behind the pretense of punishing for protection from danger. Creating fear of (young, black, male) “super predators” was a propaganda tactic for politicians like Hillary Clinton that bore some similarity to the efforts by politicians like Hillary Clinton to create fear of Iraqi weapons that didn’t exist. The latter was meant to hide U.S. aggression toward Iraq. The former was meant to hide mad, raging punitive vindictiveness that sought to put lots of people in cages for lots of time regardless of the damage done.
One of the difficulties that pretending to punish people for public safety has in hiding real motives for mass incarceration is that the people whom the punishers most want to lock up for the longest time (or execute) are generally the least likely people to commit another crime (even if guilty of the first one).
Read More
The desire to punish for the joy of punishing, for revenge, or for racist or sadistic domination has always had certain difficulties hiding behind the pretense of punishing for protection from danger. Creating fear of (young, black, male) “super predators” was a propaganda tactic for politicians like Hillary Clinton that bore some similarity to the efforts by politicians like Hillary Clinton to create fear of Iraqi weapons that didn’t exist. The latter was meant to hide U.S. aggression toward Iraq. The former was meant to hide mad, raging punitive vindictiveness that sought to put lots of people in cages for lots of time regardless of the damage done.
One of the difficulties that pretending to punish people for public safety has in hiding real motives for mass incarceration is that the people whom the punishers most want to lock up for the longest time (or execute) are generally the least likely people to commit another crime (even if guilty of the first one).
Read More
from Wolf Street:
And since stocks follow junk bonds….
Junk bonds started to decline in June 2014, and earlier this year threatened to implode. Contagion was spreading from the collapsing energy sector to the brick-and-mortar retail sector, telecom (Sprint), the media (iHeartRadio), and other sectors. It was really ugly out there.
As junk bond prices got beaten down, yields soared. The average yield of bonds rated BB, the top end of the junk-bond scale, according to the BofA Merrill Lynch index, went from 4.2% to 7.07% between June 2014 and February 11, 2016. For CCC-and-lower-rated junk bonds – the bottom end of the scale, deemed to be within uncomfortable proximity to default – the yield of the BofA Merrill Lynch index shot up from around 8% to 21.5% between June 2014 and February 12, 2016.
Read More
And since stocks follow junk bonds….
Junk bonds started to decline in June 2014, and earlier this year threatened to implode. Contagion was spreading from the collapsing energy sector to the brick-and-mortar retail sector, telecom (Sprint), the media (iHeartRadio), and other sectors. It was really ugly out there.
As junk bond prices got beaten down, yields soared. The average yield of bonds rated BB, the top end of the junk-bond scale, according to the BofA Merrill Lynch index, went from 4.2% to 7.07% between June 2014 and February 11, 2016. For CCC-and-lower-rated junk bonds – the bottom end of the scale, deemed to be within uncomfortable proximity to default – the yield of the BofA Merrill Lynch index shot up from around 8% to 21.5% between June 2014 and February 12, 2016.
Read More
by John Mauldin, GoldSeek:
For the past five weeks, I’ve written an open letter to the next president (whoever it turns out to be) about the economic realities he or she will face in the Oval Office on the first day. It is a rather daunting set of challenges. I have been trying to provide a realistic assessment of “what condition our condition is in.” The song the lines come from was actually a semi-veiled warning about doing LSD. My letters have been overt warnings about the economic dangers the next president and the country and the world will face.
In this week’s letter we will take a quick look at the condition of a slowing global economy (the IMF just downgraded its own forecast this last week). Then we’ll grapple with a Plan B scenario, because I have a confession of sorts: I am not entirely optimistic that Congress and the new president can get their act together, so I offer a proposal from former Oklahoma Senator Tom Coburn as to what we, the people, can do to actually change the country’s direction without having to depend on a Congress that may prove dysfunctional. Again.
Read More
For the past five weeks, I’ve written an open letter to the next president (whoever it turns out to be) about the economic realities he or she will face in the Oval Office on the first day. It is a rather daunting set of challenges. I have been trying to provide a realistic assessment of “what condition our condition is in.” The song the lines come from was actually a semi-veiled warning about doing LSD. My letters have been overt warnings about the economic dangers the next president and the country and the world will face.
In this week’s letter we will take a quick look at the condition of a slowing global economy (the IMF just downgraded its own forecast this last week). Then we’ll grapple with a Plan B scenario, because I have a confession of sorts: I am not entirely optimistic that Congress and the new president can get their act together, so I offer a proposal from former Oklahoma Senator Tom Coburn as to what we, the people, can do to actually change the country’s direction without having to depend on a Congress that may prove dysfunctional. Again.
Read More
from Zero Hedge:
“A “successful” helicopter drop may therefore be easier said than done given the non-linearities involved: it needs to be big enough for nominal growth expectations to shift higher and small enough to prevent an irreversible dis-anchoring of inflation expectations above the central bank’s target. Either way, the behavior of the latter is the key defining variable both for the policy’s success as well as the asset market reaction…. under the assumption of policy “success” without fears of hyperinflation, we would conclude that bond yields rise.”
Read More
“A “successful” helicopter drop may therefore be easier said than done given the non-linearities involved: it needs to be big enough for nominal growth expectations to shift higher and small enough to prevent an irreversible dis-anchoring of inflation expectations above the central bank’s target. Either way, the behavior of the latter is the key defining variable both for the policy’s success as well as the asset market reaction…. under the assumption of policy “success” without fears of hyperinflation, we would conclude that bond yields rise.”
Read More
by L.J. Devon, Natural News:
In medical systems around the world, the hunt for viable,
transplantable organs is on. The knowledgeable Jan Bollen of the
Maastricht University Medical Centre points this out in two separate
papers published this year in the American Journal of Transplantation and in the Journal of Medical Ethics.
He suggested that the more “normalized” euthanasia becomes, the more
the boundaries will be pushed for expediting organ harvesting.
In Belgium, euthanasia rates have skyrocketed since it became legal in 2002. More and more people complying to be euthanized are opting to have their organs donated. Doctors are beginning to pressure patients into euthanasia, requesting that their viable organs be donated. Family members may pressure a loved one to follow through with euthanasia if their quality of life is determined to never be the same.
Read More
In medical systems around the world, the hunt for viable,
transplantable organs is on. The knowledgeable Jan Bollen of the
Maastricht University Medical Centre points this out in two separate
papers published this year in the American Journal of Transplantation and in the Journal of Medical Ethics.
He suggested that the more “normalized” euthanasia becomes, the more
the boundaries will be pushed for expediting organ harvesting.In Belgium, euthanasia rates have skyrocketed since it became legal in 2002. More and more people complying to be euthanized are opting to have their organs donated. Doctors are beginning to pressure patients into euthanasia, requesting that their viable organs be donated. Family members may pressure a loved one to follow through with euthanasia if their quality of life is determined to never be the same.
Read More
from The Daily Bell:
President Barack Obama and Federal Reserve Chair Janet Yellen
discussed risks to the economy and progress from Wall Street reform
during a rare meeting in the Oval Office on Monday, the White House
said. -Reuters
The meetings going on in Washington DC have been the subject of much speculation in the alternative media, especially the one between Janet Yellen, President Obama and Vice President Biden.
Ostensibly, the meetings were to discuss the challenges facing the Fed and to allow Obama to express his appreciation for the job Yellen is doing.
Read More
President Barack Obama and Federal Reserve Chair Janet Yellen
discussed risks to the economy and progress from Wall Street reform
during a rare meeting in the Oval Office on Monday, the White House
said. -ReutersThe meetings going on in Washington DC have been the subject of much speculation in the alternative media, especially the one between Janet Yellen, President Obama and Vice President Biden.
Ostensibly, the meetings were to discuss the challenges facing the Fed and to allow Obama to express his appreciation for the job Yellen is doing.
Read More
by Nicholas West, Activist Post:
While it is quite clear that there is an ongoing military arms race on Earth, the militarization/weaponization of outer space remains contentious.
Superficially, it would appear that East and West are in conflict about how to proceed with space-based weaponry. The Moscow Times has noted that Russia, China and Syria remain vehemently opposed, while the U.S. and Israel, most prominently, have urged the United Nations not to issue a ban on the weaponization of space.
Given the current web of satellite-based surveillance, however, one would be correct in assuming that we are already at least half-way there. The debate currently settles around the conflicting definitions of what militarization means versus weaponization. It can be defined thusly:
Read More
While it is quite clear that there is an ongoing military arms race on Earth, the militarization/weaponization of outer space remains contentious.Superficially, it would appear that East and West are in conflict about how to proceed with space-based weaponry. The Moscow Times has noted that Russia, China and Syria remain vehemently opposed, while the U.S. and Israel, most prominently, have urged the United Nations not to issue a ban on the weaponization of space.
Given the current web of satellite-based surveillance, however, one would be correct in assuming that we are already at least half-way there. The debate currently settles around the conflicting definitions of what militarization means versus weaponization. It can be defined thusly:
Read More
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