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Keyword: finance

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  • Something Very Disturbing Spotted In A Morgan Stanley Presentation

    One of the most surprising comments this year came from a closed session on fintech where I sat next to someone in policy circles who argued that we should move quickly to a cashless economy so that we could introduce negative rates well below 1% – as they were concerned that Larry Summers' secular stagnation was indeed playing out and we would be stuck with negative rates for a decade in Europe. They felt below (1.5)% depositors would start to hoard notes, leading to yet further complexities for monetary policy.
  • Interest costs will make up entire deficit in five years, White House projects

    02/09/2016 10:16:20 AM PST · by aimhigh · 42 replies
    MarketWatch ^ | 02/09/2016 | Greg Robb
    According to the latest White House budget projections, the government's interest costs are expected to more than triple to $787 billion by 2026, as interest rates rise, from $223 billion in 2015. By 2025 and 2026, the government will spend more on interest costs than all non-defense discretionary outlays. Under the White House budget, the national debt will increase from $19 trillion to more than $27 trillion over the next decade.
  • "I Don't Trust Deutsche Bank" David Stockman Unleashes Truth Bomb

    02/09/2016 4:33:25 PM PST · by SkyPilot · 14 replies
    Zero Hedge ^ | 9 Feb 16 | Tyler Durden
    "I Don't Trust Deutsche Bank" David Stockman Unleashes Truth Bomb: "When The Crunch Comes, Bank CEOs Lie" Following this morning's proclamation by Deutsche Bank co-CEO John Cryan that Germany's largest bank is "rock solid," David Stockman exposed the ugly truth that everyone appears to have forgotten from just 7 years ago... "in my experience is that when the crunch comes, bank CEOs lie" Stockman details the Morgan Stanley, BofA, Lehman, and Bear Stearns bullshit that occurred before exclaiming... "I don't trust Deutsche Bank. I don't trust what they're saying. And there's reason why the banks are being sold all across...
  • Citi: World economy trapped in ‘death spiral’

    02/05/2016 8:50:37 AM PST · by Enlightened1 · 39 replies
    CNBC ^ | 02/05/16 | Katy Barnato
    The global economy seems trapped in a "death spiral" that could lead to further weakness in oil prices, recession and a serious equity bear market, Citi strategists have warned. Some analysts -- including those at Citi -- have turned bearish on the world economy this year, following an equity rout in January and weaker economic data out of China and the U.S. "The world appears to be trapped in a circular reference death spiral," Citi strategists led by Jonathan Stubbs said in a report on Thursday. "Stronger U.S. dollar, weaker oil/commodity prices, weaker world trade/petrodollar liquidity, weaker EM (and global...
  • Day Of Reckoning: The Collapse Of The Too Big To Fail Banks In Europe Is Here

    02/08/2016 6:01:55 PM PST · by SkyPilot · 111 replies
    Economic Collapse ^ | 8 Feb 16 | Michael Snyder
    There is so much chaos going on that I don't even know where to start. For a very long time I have been warning my readers that a major banking collapse was coming to Europe, and now it is finally unfolding. Let's start with Deutsche Bank. The stock of the most important bank in the "strongest economy in Europe" plunged another 8 percent on Monday, and it is now hovering just above the all-time record low that was set during the last financial crisis. Overall, the stock price is now down a staggering 36 percent since 2016 began, and...
  • USA Transnational Report - Guest Kevin D. Freeman TOMORROW (2/6) 8 AM EST

    02/05/2016 6:20:09 PM PST · by Randall_S · 1 replies
    USA Transnational Report ^ | February 6, 2016 | USA Transnational Report
    SPECIAL INTERVIEW WITH KEVIN FREEMAN! Saturday (2/6) 8 AM EST!!! Kevin Freeman is a NY Times bestselling author and considered one of the world's leading experts on the issues of Economic Warfare and Financial Terrorism. His research has been presented in critical DoD studies and he has been asked to brief or present to the FBI, DIA, ONA, SEC, Naval War College, HASC, Naval Postgraduate School, DARPA, IARPA, and a host of government agencies tasked with protecting America. Topics of Discussion: >What is economic terrorism? >Can foreign enemies manipulate our stock market? >Are they doing it today? >Election & Economic...
  • The War On Savers And The 200 Rulers Of Global Finance

    02/05/2016 8:44:15 AM PST · by amorphous · 6 replies
    David Stockman's Contra Corner ^ | 4 Feb 2016 | David Stockman
    There has been an economic coup d'etat in America and most of the world. We are now ruled by about 200 unelected central bankers, monetary apparatchiks and their minions and megaphones on Wall Street and other financial centers. Unlike Senator Joseph McCarthy, I actually do have a list of their names. They need to be exposed, denounced, ridiculed, rebuked and removed. The first 30 includes Janet Yellen, William Dudley, the other governors of the Fed and its senior staff. The next 10 includes Jan Hatzius, chief economist of Goldman Sachs, and his counterparts at the other major Wall Street banking...
  • Here's Why You Should Buy Gold Ahead Of The 2016 Election

    02/03/2016 9:10:05 AM PST · by blam · 26 replies
    BI ^ | 2-3-2016 | Jared Dillian
    Jared Dillian, Mauldin EconomicsJanuary 3, 2016 Long before I started writing for Mauldin Economics, I was a gold bull. A mega-gold bull. This started in 2005. I was making markets in ETFs at the time and—as head of the ETF desk at Lehman Brothers—I signed the firm up to be one of the early authorized participants in the SPDR Gold Shares fund (GLD). I was pretty excited. It may seem quaint now, but at the time there really wasn’t an easy way to invest in gold outside of coins or bars (high transaction costs, cumbersome) or futures (high barriers to...
  • Oil plunge knocks wind out of shariah compliant funds

    02/02/2016 7:22:42 PM PST · by wtd · 5 replies
    GulfNews ^ | January 31, 2016
    Oil plunge knocks wind out of shariah compliant funds Sales of the products fell more than 75% last year compared with 2014 London: The fall in the oil price has claimed another victim. Sharia-compliant funds have suffered their worst sales in four years as the price of oil plummets and tensions in the Middle East spook investors. Sales of the products fell more than 75 per cent last year compared with 2014. The slowdown is a big setback for the fledgling $60 billion (Dh220.38 billion) Islamic fund industry, which only began finding its feet in recent years, and raises...
  • The End Of Plan A: The Big Reset & $8000 Gold

    02/01/2016 3:14:38 PM PST · by blam · 56 replies
    Zero Hedge ^ | 2-1-2016 | Tyler Durden
    Tyler DurdenFebruary 1, 2016 Willem Middlekoop, author of The Big Reset – The War On Gold And The Financial Endgame, believes the current international monetary system has entered its last term and is up for a reset. Having predicted the collapse of the real estate market in 2006, (while Ben Bernanke didn't), Middlekoop asks (rhetorically) -can the global credit expansion 'experiment' from 2002 – 2008, which Bernanke completely underestimated, be compared to the global QE 'experiment' from 2008 – present? - the answer is worrisome. In the following must-see interview with Grant Williams, he shares his thoughts on the future...
  • Bloomberg Op-Ed Calls For An End Of Cash

    01/31/2016 10:57:04 PM PST · by MarchonDC09122009 · 173 replies
    Zerohedge.com ^ | 01/31/2016 | Tyler Durden
    So It Begins: Bloomberg Op-Ed Calls For An End Of Cash http://www.zerohedge.com/news/2016-01-31/bloomberg-op-ed-calls-end-cash So It Begins: Bloomberg Op-Ed Calls For An End Of Cash Submitted by Tyler Durden on 01/31/2016 In a moment of curious serendipity, a little over 90 minutes after we showed what a dystopian, centrally-planned, cashless society unleashed in a negative interest rate world would look like ("by forcing people and companies to convert their paper money into bank deposits, the hope is that they can be persuaded (coerced?) to spend that money rather than save it because those deposits will carry considerable costs"), and briefly after we...
  • How Microsoft CEO Satya Nadella did what Steve Ballmer and Bill Gates couldn't

    01/31/2016 7:41:13 AM PST · by Scutter · 64 replies
    Yahoo ^ | 1/30/2016 | Matt Weinberger
    On Thursday, February 4, Satya Nadella will celebrate his second anniversary as the CEO of Microsoft. It's been an eventful couple of years. Microsoft has grown its crucial cloud business, released Windows 10 to a much better reception than its loathed predecessor, launched a bunch of great apps for iPhone and Android, and generally made people like it a lot more. But the real victory of Satya Nadella — the truly monumental shift — has been within the company. Under Nadella, Microsoft is pointed in one direction for first time in modern memory.
  • Helicopter Money Arrives: Switzerland To Hand Out $2500 Monthly To All Citizens

    01/29/2016 5:25:06 PM PST · by blam · 38 replies
    Zero Hedge ^ | Tyler Durden
    Tyler DurdenJanuary 29, 2016 With Citi's chief economist proclaiming "only helicopter money can save the world now," and the Bank of England pre-empting paradropping money concerns, it appears that Australia's largest investment bank's forecast that money-drops were 12-18 months away was too conservative. While The Finns consider a "basic monthly income" for the entire population, Swiss residents are to vote on a countrywide referendum about a radical plan to pay every single adult a guaranteed income of around $2500 per month, with authorities insisting that people will still want to find a job. The plan, as The Daily Mail reports,...
  • Morgan Stanley looks to move jobs to cheaper cities in bid to cut costs

    01/29/2016 4:34:18 AM PST · by 2ndDivisionVet · 29 replies
    Yahoo! Finance ^ | January 19, 2016 | Olivia Oran, Reuters
    (Reuters) - Morgan Stanley (MS.N) will be straying ever further from its Wall Street roots in the coming months as it shifts more operations to lower cost cities like Mumbai and Budapest as it aims to slash costs. The investment bank on Tuesday announced an initiative to cut up to $1 billion by 2017 by using technology and outsourcing jobs now in its New York headquarters and other higher cost cities. However, it declined to give specific details about the number of jobs it would move to lower cost centers. While shifting so-called back office operations to cities where salaries...
  • A Pen and A Phone - No Idle Threat

    01/28/2016 5:27:04 PM PST · by Kaslin · 6 replies
    Townhall.com ^ | January 28, 2016 | Steve Sherman
    Who needs Congress when you've got a horde of unelected bureaucrats willing and able to write law and do the will of the president? Congress can't decide on anything anyway. They're always arguing. It takes great leadership to circumvent Congress and really get things done. Good job President Obama, you've built quite a legacy of destruction. Here's just another example of the Obama administration's government overreach that is systemic. The Consumer Finance Protection Bureau (CFPB) was established thanks to the Dodd-Frank Wall Street Reform and Consumer Protection Act becoming operational in 2012. In just four short years, the CFPB has...
  • China pours 67bn into financial system before the holiday

    01/26/2016 5:13:23 AM PST · by EBH · 4 replies
    AFP ^ | 1/26/2016
    Shanghai (AFP) - China's central bank said Tuesday it was injecting 440 billion yuan ($67 billion) into the money market, seeking to ease tight liquidity ahead of the Lunar New Year holiday when demand for funds surges. The injection through the regular open market operations of the People's Bank of China (PBoC) was the largest since 2013, Bloomberg News reported. Chinese companies typically pay salaries and bonuses before the holiday, which falls in early February this year. People also traditionally exchange cash and gifts during the period. The PBoC last week flooded the financial system with more than 1.5 trillion...
  • Norway's Biggest Bank Calls For Nation to Stop Using Cash

    01/24/2016 2:55:00 PM PST · by EBH · 74 replies
    International Business Times ^ | 1/22/2016 | Abigail Abrams
    The largest bank in Norway has called for the country to stop using cash, the Local reported Friday. This comes as the latest move in a country that has been leading the global charge toward electronic money in recent years, with several banks already not offering cash in their branch offices and some industries seeking to cut back on paper currency. DNB, the bank with the proposal, has said eliminating the use of cash would cut down on black market sales and crimes such as money laundering. "Today, there is approximately 50 billion kroner in circulation and [the country's central...
  • How The Banks Are Tightening The Noose On U.S. Oil Firms

    01/20/2016 12:59:48 PM PST · by SeekAndFind
    Zero Hedge ^ | 01/20/2016 | Tyler Durden
    Two weeks ago, we reported that even as U.S. lenders were professing to their investors that there is no risks with their energy exposure and that they are comfortably reserved for any potential losses, they were reducing their unfunded (and total) exposure to oil and gas exploration companies due to balance sheet, default and contagion concerns.We showed a list 25 deeply distressed companies, whose banks we found have quietly shrunk the borrowing base of their credit facilities anywhere from 6% in the case of Black Ridge Oil and Gas to a whopping 51% for soon to be insolvent New...
  • World faces wave of epic debt defaults, fears central bank veteran [Situation worse than 2007]

    01/20/2016 7:06:17 AM PST · by SeekAndFind · 21 replies
    The Telegraph ^ | 01/20/2016 | By Ambrose Evans-Pritchard, in Davos
    The global financial system has become dangerously unstable and faces an avalanche of bankruptcies that will test social and political stability, a leading monetary theorist has warned. "The situation is worse than it was in 2007. Our macroeconomic ammunition to fight downturns is essentially all used up," said William White, the Swiss-based chairman of the OECD's review committee and former chief economist of the Bank for International Settlements (BIS). "Debts have continued to build up over the last eight years and they have reached such levels in every part of the world that they have become a potent cause for...
  • Too Big to Fail: The Sequel?

    01/19/2016 4:12:14 PM PST · by Kaslin · 2 replies
    Townhall.com ^ | January 19, 2016 | Cal Thomas
    Movie sequels are rarely as good as the original films on which they're based. The same dictum, it appears, holds for finance. The 2008 housing market collapse was bad enough, but it appears now that we're on the verge of experiencing it all again. And the financial sequel, working from a similar script as its original version, could prove to be just as devastating to the American taxpayer. The Federal National Mortgage Association (commonly referred to as Fannie Mae) plans a mortgage loan reboot, which could produce the same insane and predictable results as when the mortgage agency loaned so...
  • Exclusive: Dallas Fed Quietly Suspends Energy Mark-To-Market

    01/16/2016 6:10:57 PM PST · by Lorianne · 13 replies
    Zero Hedge ^ | 16 January 2016 | Tyler Durden
    Earlier this week, before first JPM and then Wells Fargo revealed that not all is well when it comes to bank energy loan exposure, a small Tulsa-based lender, BOK Financial, said that its fourth-quarter earnings would miss analysts’ expectations because its loan-loss provisions would be higher than expected as a result of a single unidentified energy-industry borrower. We can now make it official, because moments ago we got confirmation from a second source who reports that according to an energy analyst who had recently met Houston funds to give his 1H16e update, one of his clients indicated that his firm...
  • 6 of the Smartest Things You Can Do With Your Money in 2016

    12/31/2015 10:33:56 AM PST · by MtnClimber · 33 replies
    Fortune ^ | 31 Dec, 2015 | Alexa von Tobel
    Here's how to spend, invest, and save wisely. For Americans, money is one of the leading causes of stress. It’s no wonder then, that better improving our financial habits is a top resolution for 2016. But holding true to that commitment can be incredibly challenging. While financial planning can be a complicated task, let's break down some of the best ways for you to make progress on your money in the year ahead.
  • What You Need to Know About "The Big Short"

    12/31/2015 10:11:53 AM PST · by Kaslin · 48 replies
    Townhall.com ^ | December 30, 2015 | John C. Goodman
    One of the most intriguing movies I've seen in a long time is The Big Short. It's about the housing bubble and what we now call the Great Recession, based on Michael Lewis's bestselling book "The Big Short: Inside the Doomsday Machine." The main characters are money managers who not only realized that the housing bubble was being supported by unsustainable subprime mortgages, but also found a way to make millions of dollars from the inevitable crash. Here are 10 things moviegoers need to know. Lesson 1: There will always be bubbles. Vernon Smith is an economist who won a...
  • Baltic Dry Crashes To New Record Low As China "Demand Is Collapsing" (Again)

    12/16/2015 10:26:47 AM PST · by blam · 18 replies
    Zero Hedge ^ | 12-16-2015 | Tyler Durden
    Tyler Durden 12/16/2015 Despite a brief dead-cat-bounce late November, which Jim Cramer heralded as evidence of stabilization in China, the world's best known freight index has collapsed to new all-time record lows this morning. Amid a persistent glut of ships and ongoing concerns about Chinese steel imports, The Baltic Dry has tumbled to 471 - the lowest level in at least 30 years.Worst. Ever. As Bloomberg adds, China, which makes about half the world’s steel, is on track for the biggest drop in output for more than two decades, according to data compiled by Bloomberg Intelligence...(snip)
  • Beyond Strauss-Kahn, to the IMF and Iran

    07/06/2011 12:31:22 PM PDT · by Kaslin · 2 replies
    Pajamas Media ^ | July 5, 2011 | Claudia Rosett
    When it comes to selling copy, it’s a good bet that sex trumps multilateral finance. That’s an axiom of human nature. It would be asking too much to expect that the media, or its customers, would be as fascinated by the in-house diplomacy of the International Monetary Fund as all concerned have been by the scandal surrounding the recently handcuffed and dethroned IMF managing director, Dominique Strauss-Kahn. Most eyes are now on the prosecutor’s cratering case, the curious past of the maid who alleged the sexual assault, and the media now analyzing its own coverage of these sordid events. But...
  • Why Blockchain is Still a Decade from Mainstream

    12/12/2015 3:27:36 AM PST · by Another Post-American · 2 replies
    CoinDesk ^ | 12/12/15 | Chris Skinner
    hris Skinner is a banking and technology and technology veteran who serves as the chairman of the Financial Services Club, a group created in 2004 to address the future of companies that serve financial markets. I’m often asked how quickly the changes I outline will take place, and my answer is between 10 and 20 years. The building of the real-time, almost free financial network on the Internet using blockchain and mobile will take about a decade at least before it becomes mainstream. "Oh," some go. "That's a way off. Can we talk about something happening sooner?" That's an interesting...
  • Anyone know a good conservative business/finance website?

    11/29/2015 10:00:13 AM PST · by con-surf-ative · 31 replies
    Looking for substantive business and financial content.
  • CoinTelegraph’s Weekly Top-5 News to Influence Bitcoin Price in the World

    11/23/2015 3:26:51 AM PST · by Another Post-American · 2 replies
    CoinTelegraph ^ | 11/23/15 | Nina Lyon
    Cryptocurrency price fluctuation depends greatly on related news and events around of the World. This week various events including the political proposal in Southeast Asia, a new service for US customers, the expansion of the largest global banks consortium to research distributed ledger technology and the rise of new platforms to make “BitcoinCT r: 6 Only” purchases have also had a great influence on the Bitcoin price. And here are some of them. Singapore Prime Minister Said National Banks Can Use Blockchain At the United Overseas Bank (UOB) 80th anniversary dinner, Lee Hsien Loong, Prime Minister of Singapore, commented that...
  • Less than half of the world's population can answer this incredibly simple financial question

    11/19/2015 8:18:34 AM PST · by SeekAndFind · 71 replies
    Business Insider ^ | 11/19/2015 | Mike Bird
    A major survey on financial literacy has just been published, and the results are terrible. McGraw Hill Financial (which owns S&P), the World Bank, and Gallup have produced the S&P Global Financial Literacy Survey, which attempted to get an idea of how financially literate the world is by polling 150,000 adults in more than 140 countries. The group defined financial literacy as the ability to answer three of four really simple questions about inflation, risk, and interest. Take a look. One of the easiest questions on the test is about interest. There is no compounding involved, and the numbers themselves...
  • Everyone On Wall Street Is Talking About This Dark New China Report

    11/17/2015 2:21:20 PM PST · by blam · 12 replies
    BI ^ | Linette Lopez
    Linette LopezNovember 17, 2015A new report by The Demand Institute — a collaboration between Nielsen and The Conference Board — has a dark prognostication for China. And it has got all the China watchers on Wall Street talking. "Many analysts once forecast a soft landing for the economy after more than 35 years of breakneck growth, but that landing point is still not in sight," the report said. It continued: "While we believe the government will pull enough policy levers to prevent full-blown economic crisis, the danger remains that China is facing a protracted period of declining growth." The report...
  • Why Owning a House is Financial Suicide

    11/12/2015 11:23:52 PM PST · by Up Yours Marxists · 100 replies
    News.Com (Australia) ^ | November 13, 2015 08:32 GMT | James Altucher
    OWNING your own house is as much the Australian dream as the American dream, and it's one that feels increasingly out of reach for many. But when one user on Quora pondered whether it was ultimately better to rent or own your own home, blogger and investor James Altucher penned this highly controversial response: I am sick of me writing about this. Do you ever get sick of yourself? I am sick of me. But every day I see more propaganda about the American Dream of owning the home. I see codewords a $15 trillion dollar industry uses to hypnotise...
  • Could Bitcoin Become Major Reserve Currency?

    11/03/2015 8:27:03 AM PST · by Another Post-American · 28 replies
    Sky News ^ | 11/3/15 | Anonymous
    The value of digital currency Bitcoin has soared 70% - and analysts think it could become one of the world's major reserve currencies within 15 years. The cryptocurrency has made big gains over the past two months, since it hit a low of $213 (£138) in August. But as it's currently trading at $370 (£240), it's nowhere near its early-2014 peak of $1,100 (£715). Some have speculated that Bitcoin interest from MasterCard and Bain Capital Ventures has legitimised the currency, which is the payment method of choice on the dark web. Others say it could be down to people using...
  • The Reason For Bitcoin's Recent 60% Surge Revealed

    11/02/2015 8:45:53 PM PST · by Another Post-American · 26 replies
    Zero Hedge ^ | 11/2/15 | Tyler Durden
    It was precisely two months ago, on September 2nd, when we explained that as a result of China's recent currency devaluation, in order to mitigate the inevitable capital outflows that such an FX move would unleash, China was "scrambling to enforce capital controls" in order to prevent the exit of hot (and not so hot) money from China's economy. We then said the following to explain why "this is great news for bitcoin": Which is why we would not be surprised to see another push higher in the value of bitcoin: it was earlier this summer when the digital currency,...
  • Banks are seriously discussing negative interest rates for normal people's savings

    10/24/2015 5:12:37 PM PDT · by SeekAndFind · 92 replies
    Business Insider ^ | 10/24/2015 | Jim Edwards
    The concept of earning interest on money in the bank is so deeply ingrained into economic life that few people even know that the opposite can happen too: Banks can take a percentage of cash from your account in the form of negative interest rates, under certain conditions. Normally, this doesn't happen. Banks want your cash, and pay you interest on it, because the more deposits they have, the more they can lend it to others who pay them even more on their investments. But interest rates in Europe are so close to zero and economic activity is so...
  • Moody's moves Illinois closer to junk-bond status

    10/22/2015 4:26:27 PM PDT · by george76 · 6 replies
    Crain's Chicago Business ^ | October 22, 2015 | GREG HINZ
    Illinois' budget war took another whack out of the state's credit rating today as Moody's Investors Service lowered its review of state debt, moving it to Baa1 from A3. And the firm said its outlook on the state is negativeoften a sign that another downgrade is coming in a few months. "The downgrades reflect weakening of the state's financial position during 2015 and our expectation that an ongoing budget stalemate will lead to further deterioration," Moody's said in a statement. ... In bumping Illinois' debt to three levels above junk, Moody's followed the lead of Fitch Ratings, which took a...
  • 'This Economy Is Stronger Than Its Reputation'

    10/20/2015 6:52:21 AM PDT · by blam · 8 replies
    BI ^ | 10-20-2015 | Myles Udland
    Myles UdlandOctober 20,2015Is the economy about to tip into recession? Strategists on Wall Street have talked about the US falling into an "earnings recession," a "revenue recession," and the possibility of a full-on economic recession that would see the economy shrink. But in an email on Tuesday, Deutsche Bank economist Torsten Slk wrote that despite the incessant drumbeat he hears from clients about an economy doing worse than people are willing to acknowledge, the exact opposite is in fact true: things are way better than people recognize. "In client meetings I frequently hear statements such as 'the US economy is...
  • If we dont understand both sides of Chinas balance sheet, we understand neither

    10/18/2015 6:04:02 AM PDT · by TigerLikesRooster · 5 replies
    China Financial Markets ^ | eptember 1, 2015 | Michael Pettis
    If we dont understand both sides of Chinas balance sheet, we understand neither By Michael Pettis September 1, 2015 Balance sheet fragility, Market structure, Rebalancing With so much happening in China in the past month it seems that there are a number of very specific topics that any essay on China should focus. I worry, however, that we get so caught up staring at strange clumps of trees that we risk losing sight of the forest. What happened in July this year, and again in August, or in June 2013, or a number of other times, were not...
  • PAUL SINGER: Developed Countries Are Hopelessly And Utterly Insolvent

    10/14/2015 11:09:36 AM PDT · by blam · 14 replies
    BI ^ | 10-14-2015 | Julia La Roche
    Julia La RocheSeptember Billionaire hedge fund manager Paul Singer, founder of the $27 billion Elliott Management, went off on central-bank monetary policy at a hedge fund conference on Wednesday. Speaking at the inaugural Tel Aviv Sohn Conference, Singer said that since the 2008 financial crisis developed, countries had been propped up by a "cult" of central bankers, according to tweets from Bloomberg TV's Elliott Gotkine. Singer said the balance sheets of developed economies were hopelessly and utterly insolvent once long-term entitlements were added in, according to the tweets.(snip)"Gold is the only real money," Singer told conference attendees, according to Reuters....
  • UBS Is About To Blow The Cover On A Massive Gold-Rigging Scandal

    09/28/2015 5:06:30 PM PDT · by SkyPilot · 83 replies
    Zero Hedge ^ | 28 Sep 15 | Tyler Durden
    With countless settlements documenting the rigging of every single asset class, it was only a matter of time before the regulators - some 10 years behind the curve as usual - finally cracked down on gold manipulation as well, even though as we have shown in the past, central banks in general and the Fed in particular are among the biggest gold manipulators. That said, we are confident by now nobody will be surprised that there was manipulation going on in the gold casino. In fact, ever since Germany's Bafin launched a probe into Deutsche Bank for gold and silver...
  • Markets Are Selling Off In Asia

    09/20/2015 11:10:38 PM PDT · by blam · 8 replies
    BI - Reuters ^ | 12-21-2015 | Nichola Saminather
    Nichola SaminatherSeptember 21, 2015SINGAPORE (Reuters) - Asian shares followed Wall Street lower on Monday after the Federal Reserve's decision to keep interest rates at record lows raised fresh concerns about growth globally, particularly in China. MSCI's broadest index of Asia-Pacific shares outside Japan fell 1 percent, with Australia down 2.3 percent and South Korea off 1.4 percent. Japan was closed for a long holiday. U.S. shares dropped more than 1.3 percent on Friday, after Fed Chair Janet Yellen said on Thursday that the global economic outlook appeared less certain. "The monetary-policy-watcher world has now turned decidedly bearish after last Fridays...
  • Fed Audit Shocker: They Come from Planet Klepto(maniac)

    09/20/2015 2:17:29 PM PDT · by entropy12 · 5 replies
    Youtube ^ | Sep 14, 2015 | Best Evidence
    While the world breathlessly awaits the outcome of this weeks FOMC meetingwill the Federal Reserve raise interest rates or wont it?one thing is clear regardless: the Fed is driving the U.S. into a 2nd depression in order to carry out its one and only remit now that Americas ability to produce real jobs has been reduced to ash, namely, propping up criminal banks with multi-trillion-dollar giveaways. Whats so disturbing about the fatal path that the Fed has been on for 7 years is that it's one the Fed went down before, whenby its own admissionit extended and deepened the Great...
  • Why Don't the Candidates Ever Talk About Money?

    09/19/2015 6:44:16 PM PDT · by MtnClimber · 18 replies
    Real Clear Politics ^ | Sept 19, 2015 | Larry Kudlow
    While there were some great moments in the latest GOP debate, and some terrific individual performances -- Carly Fiorina seemed to grab all the buzz in the aftermath -- one thing that barely came up was the economy. It was very much like the first debate. The day after the candidates faced off, Fed chair Janet Yellen announced a stand-pat, no-interest-rate-liftoff policy. Now, I don't expect presidential candidates to be Fed watchers. But Yellen did raise the issue of a still-soft economy, despite all the QE and zero-interest-rate policies. And I think Yellen was right. There will be a time...
  • Something Just Snapped At The Comex

    09/09/2015 10:12:22 AM PDT · by blam · 24 replies
    Zero Hedge ^ | 9-9-2015 | Tyler Durden
    Tyler Durden 09/09/2015 Just over one month ago, when looking at the latest changes in registered gold held at the Comex ,we were stunned not only by the collapse in this series to a record low of just over 350k ounces or barely over 10 tons, but also by the surge in "gold coverage", or the amount of paper gold claims on physical gold, which exploded to a record high 124 per ounce. This is what we said on August 3: While on its own, gold open interest - which merely represents the total potential claims on gold if exercised...
  • Prayer request for family. My Father passed away Monday.

    09/03/2015 4:38:13 AM PDT · by DCBryan1 · 71 replies
    03 SEP 15 | dcbryan1
    Jim Bryan III, 75, of Longboat Key, FL, died Sep. 1, 2015 at Arkansas Hospice from complications of pancreatic cancer. He was born in Harrison, AR in 1940 to the late J.W. and Jane Bryan of Bellefonte, AR. He was preceded in death by his son Joey (who died of a brain tumor in 1981 at age ten) and grandparents Witt and Zula Burns Bryan and Noah and Myrtle Eoff Dearing. He is survived by his beloved wife of 52 years, Ann, son Jim, IV and his wife Ann, son Chris and his wife Jennifer, grandchildren Laura and her newlywed...
  • The Troubling Decline of Financial Independence in America

    08/28/2015 10:16:19 AM PDT · by SeekAndFind · 2 replies
    Of Two Minds ^ | 08/28/2015 | Charles Hugh-Smith
    If you can't work for yourself and afford health insurance, something is seriously messed up. By financial independence, I don't mean an inherited trust fund--I meanearning an independent living as a self-employed person.Sure, it's nice if youchose the right parentsand inherited a fortune. But even without the inherited fortune, financial independence via self-employment has always been an integral part ofthe American Dream. Indeed, it could be argued thatfinancial independence is the American Dreambecause it gives us the freedom to sayTake This Job And Shove It(Johnny Paycheck). This chart shows the self-employed as a percentage of those with jobs (all nonfarm...
  • Forget About The Market For A Second, And Remember The US Economy Is Kicking Butt

    08/26/2015 7:37:34 AM PDT · by blam · 37 replies
    BI ^ | 8-26-2015 | Bob Bryan
    Bob BryanAugust 26, 2015The stock market has been on a wild ride the past few days, but if you look beyond that, the US economy is doing just fine. There are numerous explanations for the sell-off in the markets, but none of them are because of the American economy. Unemployment is still down around its pre-recession levels, the housing market is still improving with more being built and increasing values, consumer confidence is very healthy, and gross domestic product is still growing. None of that has changed. In trying to explain the chaos, most analysts have noted that, for the...
  • Forget Rate Hikes: Bridgewater Says QE4 Is Next; Warns World Is Approaching End Of Debt Supercycle

    08/24/2015 3:09:02 PM PDT · by blam · 8 replies
    Zero Hedge ^ | 8-24-2015 | Tyler Durden - Bridgewater
    Tyler Durden 08/24/2015 In a just released letter to clients, the head of the world's largest hedge fund delivers one of his usual sermons about the economy as a perpetual motion machine, affected by central banks, and where interest rates are supposed to boost asset returns by being below "the rates of return of longer-term assets." None of that is terribly exciting and it is in fitting with what Bridgewater has said for a long time (incidentally, it is curious that just over the weekend, the FT released a piece in which a "US asset manager warns over risk parity"...
  • This Isn't The Time To Ditch Commodities

    08/16/2015 8:44:53 AM PDT · by blam · 10 replies
    BI - The Alliance Bernstein Blog ^ | 8-16-2015 | Michelle Dunstan and Henry S. D'Auria
    Michelle Dunstan and Henry S. D'Auria August. 16, 2015 Commodities havent been kind to investors in recent years. But we believe that shifting the frame of reference away from underlying price trends of metals and raw materials can reveal surprising opportunities in select commodity stocks. The MSCI ACWI Commodity Producers Index has declined by 28% from the beginning of 2013 to the end of July 2015. Nonenergy commodities have fared even worsethe MSCI World Metals and Mining Index has dropped nearly 50% over the same period. Prices have plummeted because of concerns about slowing Chinese demand, coupled with continued supply...
  • Why College Tuition is Out of Sight: The Federal Government

    08/15/2015 4:52:21 AM PDT · by Kaslin · 34 replies
    Townhall.com ^ | August 15, 2015 | John C. Goodman
    Our health care system and our system of higher education have a lot more in common than you might think. As I explained in a previous column at Forbes, in both systems a third-party payer pays a good portion of the bill, leaving consumers and producers with perverse incentives to take advantage of it. The financing of both systems is dysfunctional. There is much waste and inefficiency. And low-income families are the least well served. Here is what I wrote two years ago: We spend about twice as much as other developed countries as a fraction of national output. Yet...
  • China's Currency Move (Devaluation) Will Hurt One Country More Than Any Other (Brazil)

    08/11/2015 1:39:49 PM PDT · by blam · 6 replies
    BI ^ | 8-11-2015 | Linette Lopez
    Linette Lopez August 11, 2015There is one country that stands to suffer more than any other from China's decision to devalue its currency: Brazil. China is Brazil's largest export market, gobbling up 50% of the iron ore, oil, and other commodities that the South American nation sends around the world. The devaluation of the yuan threatens to lower the already record low prices of those commodities. "Our commodity team has estimated that a 1% move in CNY is associated with a 0.5-0.6% decline in USD commodity prices," said Bank of America in a note following the yuan devaluation. It's a...