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  • First "Shocking" Deposition In Clinton Email Case - She Didn't Use A Password

    05/27/2016 7:50:16 PM PDT · by Libloather · 102 replies
    Zerohedge ^ | 5/27/16 | Tyler Durden
    First "Shocking" Deposition In Clinton Email Case Reveals She Did Not Use A Password **SNIP** He was asked about the inconvenience of the State Department’s passwords system, and he said that he eliminated her need for any passwords: A: She wouldn’t have had a password. Q: So the computer would have just been open and be able to use without going through any security features? A: Correct.
  • First Time Since WWII, "Right-Wing, Anti-Immigrant, Euroskeptic" Set To Become President Of Austria

    05/22/2016 12:29:41 PM PDT · by ak267 · 31 replies
    zero hedge ^ | 05/12/16 | Tyler Durden
    One month ago, pro-European voices in Austria, and all of Europe, were suddenly muted when in the first round of the Austrian presidential election, Norbert Hofer head of Austria Freedom Party (FPO), described as a "Euroskeptic, right-wing, anti-immigrant party" crushed his opposition buoyed by a migration crisis that has heightened fears about employment and security across the continent, and gathered a whopping 35% of the vote leaving the other five legacy candidates far behind.
  • Mexican President Warns Of War If "Gringo" Trump Wins The White House

    05/15/2016 2:02:00 PM PDT · by Former Proud Canadian · 204 replies
    Zerohedge ^ | May 15, 20016 | Tyler Durden
    Donald Trump certainly knows how to manipulate the media and ruffle some feathers in order to get a reaction, this we know. Trump's plan to build a wall on the Mexican border doesn't need to be rehashed here, but one person who has let Trump's rhetoric on the subject get under his skin is former Mexican president Vicente Fox. Fox has been on an emotional roller coaster ever since Trump started in with his criticisms of Mexico. Initially, Fox took to the airwaves to let everyone know that the wall Trump has said Mexico will pay for, ya, he's not...
  • This Is The End: Venezuela Runs Out Of Money To Print New Money

    04/27/2016 5:29:50 PM PDT · by SeekAndFind · 54 replies
    Zero Hedge ^ | 04/27/2016 | Tyler Durden
    Back in February, when we commented on the unprecedented hyperinflation about the be unleashed in the Latin American country whose president just announced that he would expand the "weekend" for public workers to 5 days...... we joked that it is unclear just where the country will find all the paper banknotes it needs for all its new physical currency. After all, central-bank data shows Venezuela more than doubled the supply of 100-, 50- and 2-bolivar notes in 2015 as it doubled monetary liquidity including bank deposits. Supply has grown even as Venezuela has fewer U.S. dollars to support new...
  • Record Number Of Parents Tell Kids They're On Their Own When It Comes To College Bill

    05/11/2016 1:54:21 PM PDT · by Lorianne · 35 replies
    Zero Hedge ^ | 09 May 2016 | Tyler Durden
    . The current outstanding student loan debt in the United States is roughly $1.3 trillion, and getting bigger by the second. The good news (for those not concerned about economic realities), Obama has just set the precedent that loans will be forgiven, the bad news, parents are now telling their kids to take out more student loans if they intend on going to college. But there is a twist. According to Bloomberg, a new survey by Discover Financial Services found that 48% of parents think their child should pay a portion (if not all) of the cost of attending college,...
  • Surprise! Baltic Dry Index Plunges Most Since November As Commodity Bubble Bursts

    05/08/2016 3:05:04 PM PDT · by Lorianne · 32 replies
    zerohedge ^ | 07 May 2016 | Tyler Durden
    Who could have seen this coming? Remember a week ago when TV entertainers crowed about the surge in The Baltic Dry Freight Index was a "clear signal" that 'China is back' baby and that escape velocity growth was just around the corner as global growth was destined to pick up... Well, just as we warned very explicitly, the ramp in the index merely reflected the frenzied speculation in industrial metals by the Chinese and as authorities have cracked down on that idiocy, so the Baltic Dry has plunged by the most since November... as real demand punches back.
  • Zimbabwe To Print Its Own US Dollars Amid Severe Cash Shortage

    05/07/2016 12:20:37 PM PDT · by Lorianne · 82 replies
    Zero Hedge ^ | 06 May 2016 | Tyler Durden
    When Jim Chanos said earlier this week that days ago that sub-Saharan Africa is facing a severe cash shortage (mostly as a result of their collapsing oil export revenue) he probably did not have the economic basket case of Zimbabwe in mind, and yet this is the country which, after years of monetary and economic collapse "problems", including the occasional bout of hyperinflation, finds itself in the most dire situation. As News24 reports, just this past week, Zimbabweans formed long queues outside banks on Thursday as a cash shortage prompted the government to announce plans to print a local version...
  • Trump Picks Former Goldman Partner And Soros Employee As Finance Chairman

    05/06/2016 4:49:36 AM PDT · by Milhous · 85 replies
    Zerohedge ^ | 05/05/2016
    In an oddly ironic twist, today Donald Trump announced that he has picked as chairman of his newly launched fundraising operation none other than a former employee of the bank he has repeatedly criticized in the past, and which he used as a foil to criticize Ted Cruz: Goldman Sachs. Trump announced that heading up his own personal fundraising operation as national finance chairman will be Steven Mnuchin, a long-time business associate, chairman and CEO of the hedge fund Dune Capital. More importantly, however, he spent 17 years at Goldman Sachs where he was most recently a Partner, having built...
  • Trumped! Why It Happened And What Comes Next, Part 1

    05/05/2016 12:22:05 PM PDT · by Syncro · 5 replies
    zerohedge ^ | 5-5-2016 | Tyler Durden/David Stockman
    Trumped! Why It Happened And What Comes Next, Part 1   Submitted by David Stockman via Contra Corner blogFirst there were seventeen. At length, there was one.Donald Trump’s wildly improbable capture of the GOP nomination, therefore, is the most significant upheaval in American politics since Ronald Reagan. And the proximate cause is essentially the same. Like back then, an era of drastic bipartisan mis-governance has finally generated an electoral impulse to sweep out the stables.Accordingly, the Donald’s patented phrase that “we aren’t winning anymore” is striking a deep nerve on main street. But that is not on account of giant trade deficits or a faltering foreign policy and failed military adventures per se.Indeed, it...
  • Sparks Fly In German Press As Treatment Of Muslims Hits "Gunpoint"

    05/02/2016 7:18:26 PM PDT · by Tours · 32 replies
    http://www.zerohedge.com/news/2016-05-02/sparks-fly-german-press-treatment-muslims-hits-gunpoint | 5/2/2016 | Tyler Durden
    Europe's conservative, anti-immigrant and anti-Muslim tide is rising and spreading at an accelerating pace from nation to nation. First it was the unprecedented ascent and surge in the polls of France's National Front, whose Marine Le Pen has become the leading contender in next year's presidential elections; then there was Austria whose Freedom Party swept the competition in last weekend's first round of the local presidential elections; then over the weekend we learned that Germany's brand new (less than three years old) Alternative for Germany (AfD) party has not only adopted an "Anti-Islam manifesto", stating that "Muslims are no longer...
  • Puerto Rico Says Will Default Tomorrow, Begs Congress For Help "Or Else Crisis Will Get Worse"

    05/01/2016 4:39:02 PM PDT · by tcrlaf · 64 replies
    Zerohedge ^ | 5-1-2016 | Durden
    Update: PR Governor Padilla has spoken... -PUERTO RICO GOVERNOR SAYS WON'T PAY DEBT TOMORROW -PUERTO RICO GOVERNOR SAYS ISLAND WON'T PAY DEBT MONDAY -PUERTO RICO GOVERNOR: GOVERNMENT SIGNED MORATORIUM BILL YESTERDAY -PUERTO RICO NEEDS DEAL W/ CREDITORS AND/OR CONGRESS: GARCIA And of course, demands a bailout... -PUERTO RICO GOVERNOR CALLS ON U.S. CONGRESS, PAUL RYAN FOR HELP And then threatens... -CRISIS WILL GET WORSE IF U.S. CONGRESS DOESN'T HELP: GARCIA -PUERTO RICO GOVERNOR CONCLUDES REMARKS TO COMMONWEALTH A default on the $422 million due today is "virtually certain," S&P Global Ratings said April 11.
  • Ultimate Act of a Frantic Establishment, Willing to do Anything to Stop Trump

    05/01/2016 10:19:19 AM PDT · by Vermont Lt · 34 replies
    Zero Hedge ^ | 5/1/2016 | SM Gibson
    As Donald Trump inches closer to the Republican nomination, GOP insiders scramble to put a halt to the billionaire’s run for the White House. A new lawsuit filed in the state of California could prove to be the ultimate act of desperation by a frantic establishment willing to go to any lengths to end Trump’s bid for the Oval Office. However, if the allegations contained within the court documents are found to be true, they would not only spell the end of Trump’s presidential aspirations, but most likely his brand as a whole.
  • Former McDonalds CEO Warns Minimum Wage "Will Wipe Out 1000s Of Jobs"

    04/29/2016 11:10:55 AM PDT · by Lorianne · 47 replies
    Zero Hedge ^ | 29 April 2016 | Tyler Durden
    While this should be no surprise to any rational non-establishment-teet-suckling economist, former McDonalds' CEO Ed Rensi exclaims, in a recent Forbes Op-Ed, that "a $15 minimum wage won’t spell the end of [fast-food brands]. However it will mean wiping out thousands of entry-level opportunities for people without many other options." The $15 minimum wage demand, which translates to $30,000 a year for a full-time employee, is built upon a fundamental misunderstanding of a restaurant business (and we add simple supply and demand fundamentals) - just "do the math" Rensi rants... “They’re making millions while millions can’t pay their bills,” argue...
  • The Real Identities Of 'Tyler Durden' And Zero Hedge Have Been Revealed

    04/29/2016 9:22:12 AM PDT · by blam · 61 replies
    Business Insider ^ | 4-29-2016 | Will Martin
    Will MartinApril 29, 2016The men behind the legendary finance blog Zero Hedge have been unmasked after one former blogger with the site revealed the identity of his employers. Speaking with Bloomberg reporters Tracy Alloway and Luke Kawa, Colin Lokey — described as a "political science graduate with an MBA and a Southern twang" — said he was part of a three-man team running Zero Hedge, the blog best known for its sensationalist headlines and bearish outlook on the world. Lokey, 32, says the other men behind the site are 37-year-old Daniel Ivandjiiski, a Bulgarian former hedge fund analyst, and Tim...
  • Here Is Rothschild's Primer How To Launder Money In U.S. Real Estate And Avoid "Blacklists"

    04/23/2016 2:40:34 PM PDT · by Rockitz · 24 replies
    Bloomberg/ZeroHedge.com ^ | 7 April 2016 | Tyler Durden
    <p>Anyone closely following the Panama Papers tax haven story, is by now familiar with the role that Rothschild plays in providing virtually identical services right inside the US by the Rothschild Trust, as explained in our recent article "Rothschild Humiliates Obama, Reveals That "America Is The Biggest Tax Haven In The World."</p>
  • The Smoking Gun: "Document 17" Links Saudi Embassy In Washington To Sept 11

    04/20/2016 5:48:42 PM PDT · by Nachum · 72 replies
    zero hedge ^ | 4/20/16 | tyler durden
    With the topic of Saudi Arabia's involvement in the Sept 11 attack on everyone's lips, if certainly not those of president Obama who is currently in Riyadh where he is meeting with members of Saudi royalty in what may be his last trip to the Saudi nation as US president, many have been clamoring for the information in the suddenly notorious "28-pages" (following the recent 60 Minutes episode) to be released to the public so the US population can finally relegate all those "conspiracy theories" surrounding the real perpetrator behind the Sept 11 terrorist attack to the "conspiracy fact" pile.It...
  • Official: Treasury Removes Andrew Jackson From $20 Bill, Will Replace Him With Harriet Tubman

    04/20/2016 11:49:32 AM PDT · by SeekAndFind · 130 replies
    Zero Hedge ^ | 04/20/2016 | Tyler Durden
    Presenting an artist's impression of what your new $20 bill will soon look like. It's official.Moments ago Politico reported that the U.S. Treasury will announce that it plans to replace former President Andrew Jackson on the $20 bill with Harriet Tubman, the sources said. There will also be changes to the $5 bill to depict civil rights era leaders.Not every dead president is being scraped however: treasury Secretary Jack Lew on Wednesday will announce a decision to keep Alexander Hamilton on the front of the $10 bill and put leaders of the movement to give women the right to vote...
  • The Shaking Continues: The Most Dangerous Volcano In Mexico Has Erupted In Spectacular Fashion

    04/20/2016 8:41:25 AM PDT · by Perseverando · 62 replies
    ZeroHedge.com ^ | April 20, 2016 | Tyler Durden
    More than 25 million people live in the vicinity of Mt. Popocatepetl, including Mexico City’s 18 million residents. At 2:32 local time on Tuesday morning, the most dangerous volcano in Mexico roared to life in spectacular fashion, and this has many experts extremely concerned about what is coming next. Popocatepetl is an Aztec word that means “smoking mountain”, and historians tell us that once upon a time entire Aztec cities were buried in super-heated mud from this volcano. In fact, the super-heated mud flows were so deep that they buried entire Aztec pyramids. A full-blown eruption of Mt. Popocatepetl would...
  • Obama Administration Makes Stunning Admission: "Seed Money For Al Qaeda Came From Saudi Arabia"

    04/18/2016 5:00:30 PM PDT · by Former Proud Canadian · 151 replies
    Zerohedge ^ | April 18, 2016 | Tyler Durden
    Following a dramatic deterioration in official diplomatic channels between the US and Saudi Arabia when over the weekend the Saudis threatened the U.S. with dumping billions in Treasuries if Congress were to pass a bill probing into their alleged support of Sept 11 terrorists in the aftermath of last weekend's 60 Minutes report on the classified "28 pages" from the Septemeber 11 commission, moments ago the Obama administration made a stunning admission, when for the first time it revealed on the record that the Saudis were the original source of funding for Al Qaeda. As Politico reports, Obama's deputy national...
  • Kyle Bass On The Resurgence Of Gold And The Looming "Run On Cash"

    04/17/2016 7:46:42 AM PDT · by dennisw · 11 replies
    .zerohedge. ^ | 04/16/2016 | Tyler Durden
    Central Banks China Federal Reserve Hayman Capital Kyle Bass Kyle Bass Lehman Monetary Policy Reality Recession Yuan Hayman Capital founder Kyle Bass sat down recently for a conversation with Maria Bartiromo and Gary Kaminsky on Wall Street Week. He covered a variety of topics such as NIRP, income inequality, and the U.S. presidential race. As our regular readers know, Kyle correctly predicted the housing crisis, and is now calling for the yuan to be dramatically devalued. On the growing use of negative interest rates as a central bank policy tool, he pointed out that while the central planners have their...
  • Deutsche Bank Confirms Silver Market Manipulation In Legal Settlement, Agrees To Expose Other Banks

    04/14/2016 9:53:04 AM PDT · by HOYA97 · 28 replies
    Zero Hedge ^ | 04/14/2016 | Tyler Durden
    Back in July of 2014, we reported that in an attempt to obtain if not compensation, then at least confirmation of bank manipulation in the precious metals industry, a group of silver bullion banks including Deutsche Bank, Bank of Nova Scotia and HSBC (later UBS was also added to the defendants) were accused of manipulating prices in the multi-billion dollar market.
  • Turkey: The Business of Refugee Smuggling, Sex Trafficking

    04/05/2016 12:38:42 PM PDT · by Lorianne · 2 replies
    Gatestone Institute ^ | 03 April 2016 | Uzay Bulut
    Professional criminals convince parents that their daughters are going to a better life in Turkey. The parents are given 2000-5000 Turkish liras ($700-$1700) as a "bride price" -- an enormous sum for a poor Syrian family. "Girls between the ages of twelve and sixteen are referred to as pistachios, those between seventeen and twenty are called cherries, twenty to twenty-two are apples, and anyone older is a watermelon." — From a report on Turkey, by End Child Prostitution, Child Pornography and Trafficking of Children for Sexual Purposes (ECPAT). ◾Many Muslims have difficulty with, or even an aversion to, assimilating into...
  • Shuffling The Deckchairs On The USS Perpetual Growth

    04/02/2016 2:03:56 PM PDT · by Lorianne · 1 replies
    Zero Hedge ^ | 02 April 2016 | Tyler Durden
    The USS Perpetual Growth was picking up speed, steaming over calm seas despite a growing chorus of capital market Cassandras fearing trouble under the surface and further out at sea. “Full speed ahead” Skipper Yellen barked to her economates, unperturbed by ominous radar images or the uselessness of econometric expertise at the zero bound, unmindful of passenger dysentery because 95.1% of the ship’s births were full. “Look at all this liquidity!” she likely informed Captain Blithely, her commander in chief on shore, who had spent his presidency too disengaged of economic matters (or too politically astute) to have a cogent...
  • The Dirty Dozen - Meet The Republicans That Will Vote For Hillary

    03/25/2016 10:50:17 PM PDT · by Abiotic · 11 replies
    Zero Hedge ^ | 03/25/2016 | Tyler Durden
    Members of the GOP foreign policy establishment are open to supporting Hillary Clinton for president if that’s what it takes to prevent Donald Trump from becoming commander in chief. As The Hill reports, a number of prominent Republicans who signed a scathing open letter denouncing Trump said they aren’t wavering from their opposition to him..."Donald Trump is not a Republican. ... He is a caricature of classless wealth. ... He is a caricature of the ugly American." “What’s happening is you have a lot of people who are desperate to get anybody in there other than Trump. ... People are...
  • Top German Journalist Admits Mainstream Media Is Completely Fake

    03/29/2016 3:26:59 PM PDT · by Beave Meister · 18 replies
    Zero Hedge.com ^ | 3/28/2016 | Tyler Durden
    With the increasing propaganda wars, we thought a reminder of just how naive many Westerners are when it comes to their news-feed. As Arjun Walia, of GlobalResearch.ca, notes, Dr. Ulfkotte went on public television stating that he was forced to publish the works of intelligence agents under his own name, also adding that noncompliance with these orders would result in him losing his job. He recently made an appearance on RT news to share these facts: I’ve been a journalist for about 25 years, and I was educated to lie, to betray, and not to tell the truth to the...
  • Trump Blasts Muslims After Brussels Attack: "We Cannot Let These People Into Our Country"

    03/22/2016 5:57:09 AM PDT · by Zakeet · 178 replies
    ZeroHedge ^ | March 22, 2016
    At the risk of being crass, we've said on several occasions that the Paris attacks, the San Bernardino massacre, and the wave of sexual assaults that have swept Western Europe are the best things that ever happened to Donald Trump's presidential campaign. It seems exceedingly likely that Trump had very little conception of what was going on in the Balkans when he stormed onto the political scene last summer with inflammatory comments about Mexican immigrants. As luck would have it, just two months later, Europe's migrant crisis reached a critical tipping point when Hungarian PM Viktor Orban built a 100-mile...
  • Gold ETF Market Breaks: BlackRock Suspends ETF Issuance Due To "Surging Demand For Gold"

    03/04/2016 7:29:51 AM PST · by amorphous · 3 replies
    Zero Hedge ^ | 4 Mar 2016 | Tyler Durden
    BlackRock's Gold ETF (IAU) has seen fund inflows every day in 2016 (no outflows at all) and with the stock trading above its NAV for most of the year, the world's largest asset manager has made a significant decision: •*BLACKROCK SAYS ISSUANCE OF GOLD TRUST SHARES SUSPENDED• *BLACKROCK SAYS SUSPENSION DUE TO DEMAND FOR GOLD ... It appears the huge demand for physical gold (and lack of supply) is finally catching up with the manipulation of paper prices. If this is anything other than a brief technical suspension, it could well unleash panic-buying as we already pointed out - there...
  • It's Official: Canada Has Sold All Of Its Gold Reserves

    03/03/2016 10:29:50 AM PST · by blam · 56 replies
    Zero Hedge ^ | Tyler Durden
    Tyler Durden March 3, 2016One month ago, when looking at the latest Canadian official international reserves, we noticed something strange: Canada had sold nearly half of its gold reserves in one month. According to the February data, total Canadian gold reserves stood at 1.7 tonnes. That was just 0.1 per cent of the country’s total reserves, which also include foreign currency deposits and bonds. As we noted, the decision to sell came from Finance Minister Bill Morneau’s office. “Canada’s gold reserves belong to the Government of Canada, and are held under the name of the Minister of Finance,” explained a...
  • Snowden Sums Up The Presidential Campaign With Just One Tweet

    02/28/2016 9:41:22 AM PST · by Enlightened1 · 26 replies
    Zero Hedge ^ | 02/27/16 | Tyler Durden
    And so, just like that, with a sweeping victory in South Carolina, Sanders' Socialism crawls back into its cage and crony capitalism is alive and well. As Edward Snowden so perfectly sums up... . 
  • "I Guess It's Food Stamps": 400,000 Jeopardized As Giant State Pension Fund Plans 50% Benefit Cuts

    02/19/2016 7:27:00 AM PST · by SeekAndFind · 125 replies
    Zero Hedge ^ | 02/19/2016 | Tyler Durden
    Dale Dorsey isn't happy.After working 33 years, he's facing a 55% cut to his pension benefits, a blow which he says will "cripple" his family and imperil the livelihood of his two children, one of whom is in the fourth grade and one of whom is just entering high school.Dorsey attended a town hall meeting in Kansas City on Tuesday where retirees turned out for a discussion on "massive" pension cuts proposed by the Central States Pension Fund, which covers 400,000 participants, and which will almost certainly go broke within the next decade."A controversial 2014 law allowed the pension...
  • The Mystery of the One Bank: its Owners?

    02/16/2016 8:41:52 AM PST · by amorphous · 11 replies
    Zero Hedge ^ | 16 Feb 2016 | Jeff Nielson
    Roughly 2 1/2 years ago ; readers were introduced to a paradigm of crime, corruption, and control which they now know as "the One Bank". First they were presented with a definition and description of this crime syndicate. That definition came via a massive computer model constructed by a trio of Swiss academics, and cited with favor by Forbes magazine . The computer model was based upon data involving more than 10 million "economic actors", both individuals and corporations, and the conclusions which that model produced were nothing less than shocking. The One Bank is "a super-entity" comprised of 144...
  • The Most Important Question About ISIS That Nobody Is Asking

    11/19/2015 1:11:01 PM PST · by amorphous · 52 replies
    Zero Hedge ^ | 19 Nov 2015 | Tyler
    The question of how the Islamic State funds its sprawling caliphate has been discussed in the past: we first broke down the primary driver of ISIS revenue well over a year ago, in September 2014, when we explained that "ISIS uses oil wealth to help finance its terror operations." ... We wonder how long until someone finally asks the all important question regarding the Islamic State: who is the commodity trader breaching every known law of funding terrorism when buying ISIS crude, almost certainly with the tacit approval by various "western alliance" governments, and why is it that these governments...
  • 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.
  • Closing In: Russia, Iran, Assad "Encircle" Syria's Largest City As Peace Talks Collapse In Geneva

    02/04/2016 10:06:01 AM PST · by Nachum · 9 replies
    zero hedge ^ | 2/4/16 | tyler durden
    Back in October, we previewed the “promised” battle for Aleppo, Syria’s largest city prior to the war. By the time Russia began constructing an air base at Latakia, the city - which is immensely important both from a strategic and psychological perspective - was controlled by a hodgepodge of rebels and militants including al-Qaeda, the Free Syrian Army, and ISIS. As we noted four months ago, if Russia and Hezbollah manage to recapture the city, it would effectively restore the Assad government in Syria even if the east of the country is still controlled by Islamic State. In many ways,...
  • 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...
  • Puerto Rico Is Greece, & These 5 States Are Next To Go

    01/17/2016 10:47:05 AM PST · by MtnClimber · 41 replies
    Zero Hedge ^ | 3 Jan, 2016 | Tyler Durden
    As Wilbur Ross so eloquently noted, for Puerto Rico "it's the end of the beginning... and the beginning of the end," as he explained "Puerto Rico is the US version of Greece." However, as JPMorgan explains, for some states the pain is really just beginning as Municipal bond risk will only become more important over time, as assets of some severely underfunded plans are gradually depleted. But, as JPMorgan details, Muni risk is on the rise for US states, but broad generalizations do not apply (in other words, these five states are 'screwed')... The direct indebtedness of US states (excluding...
  • Global Risk Off: China Reenters Bear Market, Oil Tumbles Under $30; Global Stocks, US Futures Gutted

    01/15/2016 4:46:55 AM PST · by Zakeet · 6 replies
    Zero Hedge ^ | January 15, 2016
    Bulletin Headline Summary From Bloomberg and RanSquawk Amid the fresh downturn in risk sentiment, there is one standout move to highlight this morning; the USD/CAD ramp through 1.4400 and 1.4500 WTI and Brent are below USD 30/bbl, with analysts noting that the UN are expected to approve the removal of Iranian trade sanctions as soon as Monday Highlights today include US retail sales, PPI final demand, empire manufacturing, industrial production, business inventories and University of Michigan sentiment as well as Fed's Dudley, Williams and Kaplan Treasuries gain as global stocks plunge led by China, crude at 12-year low; 10Y has...
  • Empires (Like the U.S.) Fall When Corruption Becomes Rampant

    01/08/2016 10:50:43 AM PST · by Perseverando · 14 replies
    Zero Hedge ^ | January 8, 2016 | Tyler Durden
    Widespread corruption destroys empires. By way of example, corruption was one of the main causes of the collapse of the Roman Empire: The Praetorian Guard—the emperor’s personal bodyguards—assassinated and installed new sovereigns at will, and once even auctioned the spot off to the highest bidder [and see this]. The political rot also extended to the Roman Senate, which failed to temper the excesses of the emperors due to its own widespread corruption and incompetence. As the situation worsened, civic pride waned and many Roman citizens lost trust in their leadership. The Ottoman Empire started its decline when the sale of...
  • Puerto Rico Is Greece, and These 5 States Are Next To Go

    01/03/2016 6:22:48 PM PST · by SeekAndFind · 31 replies
    Zero Hedge ^ | 01/03/2016 | Tyler Durden
    <p>As Wilbur Ross so eloquently noted, for Puerto Rico "it's the end of the beginning... and the beginning of the end," as he explained "Puerto Rico is the US version of Greece." However, as JPMorgan explains, for some states the pain is really just beginning as Municipal bond risk will only become more important over time, as assets of some severely underfunded plans are gradually depleted.</p>
  • Saudi Arabia Bans Flights, Travel To Iran

    01/04/2016 7:40:41 AM PST · by tcrlaf · 55 replies
    Zerohedge ^ | 1-4-2016 | Durden
    Over the weekend, a series of dramatic events stemming from Saudi Arabia’s execution of Shiite cleric Nimr al-Nimr plunged the Mid-East further into chaos. The torching of the Saudi embassy in Tehran prompted Riyadh to cut diplomatic ties with the Iranians and on Monday, Bahrain quickly followed while the UAE recalled its ambassador. Now, the stage is set for a full blown sectarian showdown complete with protests by oppressed Shiites in the Gulf states, anti-Sunni sentiment in Iran and Iraq, and, in a worst case scenario, a direct (as opposed to a proxy) conflict between the Saudis and the Iranians....
  • China Halts Stock Trading For Day After Entire Market Crashes

    01/03/2016 11:02:35 PM PST · by Zakeet · 176 replies
    Zero Hedge ^ | January 4, 2016
    Following the initial halt in CSI-300 Futures at the 5% limit down level, the afternoon session opened to more carnage and amid the worst 'first day of the year' in at least 15 years, Chinese stocks collapsed further to a 7% crash. At 1334 local time, stock trading was halted for the rest of the day across all exchanges (at least two hours early). [Snip] Dow futures are now down over 150 points from NYE close, Gold and Treasuries are bid, and offshore Yuan has plunged most since the August devaluation.
  • On The Trail Of Dubai's Stolen Gold: A Robbed Client Breaks Silence, & A Fascinating Detail Emerges

    01/01/2016 8:29:04 PM PST · by Rockitz · 21 replies
    ZeroHedge.com ^ | 1 January 2016 | Tyler Durden
    On Christmas Day, 2015, we told our readers the fascinating tale about the Turkish-Iranian gold smuggling ring - perhaps the biggest and most brazen in history, one which lasted for years, which saw billions in gold transported out of Turkey and into Iran to allow Tehran to circumvent the western financial sanctions using gold as a medium for bater, and which was all made possible thanks to the tiny Emirate of Dubai. What made this particular instance of gold smuggling especially memorable is that it reached to the very political top in both Turkey, and Iran, and Dubai. ... Zero...
  • Swiss Army Chief Warns Of Social Unrest, Calls Upon Citizens To Arm Themselves

    12/30/2015 8:51:15 AM PST · by amorphous · 91 replies
    Zero Hedge ^ | 30 Dec 2015 | Tyler Durden
    Swiss army chief Andre Blattmann warned, in a Swiss newspaper article on Sunday, the risks of social unrest in Europe are soaring. Recalling the experience of 1939/1945, Blattman fears the increasing aggression in public discourse is an explosively hazardous situation, and advises the Swiss people to arm themselves and warns that the basis for Swiss prosperity is "being called into question."
  • "Trump Voters Are Not Just Angry - They Want Revenge"

    12/28/2015 2:25:51 PM PST · by 2ndDivisionVet · 131 replies
    Zero Hedge ^ | December 27, 2015 | Frank Luntz
    Outraged by what Donald Trump says? You are not alone. No high-polling presidential candidate in the modern era has so intrepidly drawn the ire of so many within the American electorate. And there remains no end in sight. Yet in rendering one voting bloc utterly apoplectic, he has appealed viscerally to another. The balance of middle ground politics is not, shall we say, Mr Trump’s bailiwick. But America is no longer a middle ground country. We are already scared by our division — and it is getting worse. The simple truth is, the more provocative his language, the deeper and...
  • Blaming Russia…Again

    12/24/2015 8:17:49 PM PST · by VitacoreVision · 12 replies
    Souloftheeast.org copied by 21stcenturywire.com copied by ZeroHedge.com ^ | December 19, 2015 by Daniel Spaulding Souloftheeast.org Seoul, South Korea | Daniel Spaulding copied by Tyler Durden on 12/24/2015 21:30 -0500
    In American politics the nation of Russia, especially as personified in its leader Vladimir Putin, becomes all things to all men.To American leftists, Russia is a neo-fascist, violently nationalist country that ruthlessly suppressed minority groups, especially homosexuals. To the American Right, Putin is the second coming of Stalin who is working to subvert good old-fashioned American values around the world.In line with the latter narrative, a certain Christian Gomez recently published an article on The New American website, the flagship of the John Birch Society, supposedly revealing that the Russian government is the real power behind the ISIS terrorist group,...
  • Turkey Refuses To Withdraw Troops From Iraq, Threatens To Slap Sanctions On Russia

    12/08/2015 12:39:36 PM PST · by amorphous · 25 replies
    Zero Hedge ^ | 8 Dec 2015 | Tyler Durden
    That sounds more dramatic than it actually was. Turkey sent around 150 soldiers and two dozens tanks to Bashiqa, just northeast of Mosul in what Ankara described as an effort to replace an existing contingent of around 90 troops that have supposedly been on a "training" mission with the Peshmerga for the better part of two years. As we documented over the weekend, this is hardly the first time the Turks have entered the country. However, the circumstances are quite different this time around. That is, this isn't a anti-terror mission aimed at tracking the PKK. Over the weekend, we...
  • US Lawmaker Sees "Ample Evidence Of Turkey's Complicity In ISIS's Murderous Rampage"

    12/03/2015 12:19:40 PM PST · by amorphous · 8 replies
    Zero Hedge ^ | 3 Dec 2015 | Tyler Durden
    At this point, it’s abundantly clear that the US is on the wrong side in the Mid-East. Washington has always resorted to covert operations and support for unsavory characters on the way to bringing about regime change in countries whose governments aren’t deemed conducive to American interests. That’s nothing new. Usually, however, there’s at least a semi-plausible argument to be made for why Washington feels the need to support one side over the other. In Syria, there’s no such argument.
  • Iraq May Seek "Direct Military Intervention From Russia" To Expel Turkish Troops

    12/06/2015 5:35:14 PM PST · by amorphous · 46 replies
    Zero Hege ^ | 6 Dec 2015 | Tyler Durden
    Turkey just can't seem to help itself when it comes to escalations in the Mid-East. First, Erdogan intentionally reignited the conflict between Ankara and the PKK in an effort to scare the public into nullifying a democratic election outcome. Then, the Turks shot down a Russian warplane near the Syrian border. Finally, in what very well might be an effort to protect Islamic State oil smuggling routes, Erdogan sent 150 troops and two dozen tanks to Bashiqa, just northeast of Mosul in a move that has infuriated Baghdad. We discussed the troop deployment at length on Saturday in "Did Turkey...
  • Meet The Man Who Funds ISIS: Bilal Erdogan, The Son Of Turkey's President

    12/06/2015 6:18:37 PM PST · by Lorianne · 39 replies
    Zero Hedge ^ | 26 November 2015 | Tyler Durden
    Russia's Sergey Lavrov is not one foreign minister known to mince his words. Just earlier today, 24 hours after a Russian plane was brought down by the country whose president three years ago said "a short-term border violation can never be a pretext for an attack", had this to say: "We have serious doubts this was an unintended incident and believe this is a planned provocation" by Turkey. But even that was tame compared to what Lavrov said to his Turkish counterparty Mevlut Cavusoglu earlier today during a phone call between the two (Lavrov who was supposed to travel to...