APR 24 SIT EC y POL
ZERO HEDGE
Presenting
De-Dollarization In One Simple Map.
Submitted by Tyler Durden on 04/24/2015 - 21:30 Sometimes a picture is indeed worth a thousand
words (or a thousand yuan) which is why we present the
following map which shows all of the countries that have joined the
China-led Asian Infrastructure Investment Bank with no
comment other than to say "spot the odd G-7 nations out"...
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The
Rehypothecation Of Gold, And Why It Matters. Submitted by Tyler
Durden on 04/24/2015. Claiming to own X quantity of gold is one thing,
and reporting how many times the gold has been pledged as collateral is
another.
The word rehypothecation basic
understanding means assets pledged by counterparties (such as the infamous
copper stored in Chinese warehouses) are reused as collateral/repledged--in
effect, the same assets are pledged as collateral multiple times.
But beyond this, I have not had a clear understanding of how
the rehypothecation of gold reserves threatens the whole shaky edifice of
Infinite Greed, oops, I mean neoliberal capital markets.
Here is Scott's commentary: http://www.zerohedge.com/news/2015-04-24/rehypothecation-gold-and-why-it-matters
here some extracts:
China
isgetting ready to release their gold
reserves. That is, they will do like the Fed and say how much they have. We
cannot call them on their real reserves, because then they can do the same to
us. Now, if all the gold is still in Fort Knox and the Federal Reserve, then
the US can call for a real accounting and show ours as well.
However, if we don’t and China
does, and calls for the US to do the same, then a lot of fear enters the
market. There is a reason that people say "never own paper metals."
This is that reason. You might get the value of that gold, but it will be in
fiat currency and if things are crumbling then fiat promises become flat
losses.
Thank you, Scott, for the explanation. It's a
funny thing about financial games; whatever the Mainstream Financial Media
mocks as conspiracy theories often later turn out to be
accurate.
In a transparent financial system, the citizens of the U.S.
would be invited to tour Fort Knox (in small, secure groups, of course) and
count the nation's gold directly. What's the harm in showing off the gold to
anyone willing to go through security?
Why keep the nation's gold reserves so mysteriously
secret? What's the point in being so cagey about it? Maybe
rehypothecation isn't the reason for the secrecy; then what is? Fear of
precisely what? Isn't gold supposed to be a foolish relic? What's the danger in
letting people look at the foolish relic and count the bars and note the serial
numbers on the bars? What's the risk in that?
I propose turning Fort Knox into a profitable tourist
attraction. If gold is just a foolish relic, then charge $50 a person
to wander around "our" gold. It's not like anyone can slip a heavy
bar into their purse or pocket without being detected. Put it behind
bulletproof glass if you want. What's the risk?
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China
Could Face "Sharp" Rise In Capital Outflows If Stocks, Economy Lose
Momentum. Submitted by Tyler
Durden on 04/24/2015. "The downside risk would be to have
broad-based outflows if the macro story deteriorates further or the stock
exchange collapses, which would create a confidence crisis,” one analyst
tells Bloomberg, as capital continues to flow out of China. The country faces
accelerating capital outflows, a looming economic downturn, and an epic stock
market bubble, and ironically, efforts to combat the latter two problems are
very likely to exacerbate the former.
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11
Signs That We Are Entering The Next Phase Of The Global Economic Crisis.
by
Michael Snyder via The Economic Collapse blog. Submitted by Tyler
Durden on 04/24/2015. Well, the Nasdaq finally did it. So if you
invested in the Nasdaq at the peak of the dotcom bubble, you are just finally
breaking even 15 years later. Unfortunately, the truth is that stocks
have not been soaring because the U.S. economy is fundamentally strong.
Just like the last two times, what we are witnessing is an irrational financial bubble.
Sometimes these irrational bubbles can last for a surprisingly long time, but
in the end they always burst. And even now there are signs of economic
trouble bubbling to the surface all around us.
The following are 11 signs that we are entering the
next phase of the global economic crisis… [quotations for several point are
skipped. Go to the art: http://www.zerohedge.com/news/2015-04-24/11-signs-we-are-entering-next-phase-global-economic-crisis
]
#1 It is being projected that half of all fracking
companies in the United States will be “dead or sold” by the end of this year.
#2 The rig count just continues to fall as the U.S.
oil industry implodes. Incredibly, the number of rigs in operation in the
United States has fallen for 19 weeks in a row.
#3 McDonald’s has announced that it will be closing 700 “poor
performing” restaurants in 2015. Why would McDonald’s be doing this if
the economy was actually getting better?
#4 As I wrote about the other day, we could be right on the verge of a
Greek debt default. In fact, we learned on Thursday that the Greek
government has been “running on empty” for months…
#5 Coal
accounts for approximately 40 percent of all electrical generation on the
entire planet. When the price of coal starts to drop, that is a sign that
economic activity is slowing down. Just prior to the last financial
crisis in 2008, the price of coal shot up dramatically and then crashed really
hard. Well, guess what? The price of coal has been crashing again,
and it is already lower than it was at any
point during the last recession.
#6 The price of iron ore has been crashing as
well. It is down 35 percent in the last nine months, and David Stockman believes
that this is because of a major deflationary crisis that is brewing in China…
#7 At this point, China accounts for more total
global trade than anyone else in the world. That is why it is so alarming
that Chinese imports and exports are both absolutely collapsing…
#8 The number of publicly traded companies in the
United States that filed for bankruptcy during the first quarter of 2015 was more than double the
number that filed for bankruptcy during the first quarter of 2014.
#9 New home sales in the United States just declined
at their fastest pace in almost two years.
#10 U.S. manufacturing data has been shockingly weak lately…
#11 When priced according to “the average
blue-collar hourly wage“, U.S. stocks are the most expensive that they have
ever been in history right now. To say that this financial bubble is
overdue to burst is a massive understatement.
It may not happen next week, or even next month, but big
financial trouble is coming.
And when it finally arrives, it is going to shock the
world, even though anyone with any sense can see the coming crisis approaching
from a mile away.
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8
Charts That Prove The US Is Already In A Recession. Submitted by Tyler
Durden on 04/24/2015. The evidence is mounting...
While broadly-speaking, both 'hard' and 'soft' macro data
has disappointed, as we
noted previously, the scale of those 'missed expectations' is stunning -
worst since Lehman. While this is blamed on weather, the fact is that
America had 30% less snow this year than last and still, as the following
charts strongly suggest, the YoY drops are on a scale that screams
"recession"...
US Macro Data has surprised to the downside on a scale not
seen since Lehman...
SEE more charts at: http://www.zerohedge.com/news/2015-04-24/8-charts-prove-us-already-recession
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America
Ranks Below Israel In World Happiness Index. Submitted by Tyler
Durden on 04/24/2015 Israelis,
Costa Rica & Mexicans are
"happier" than Americans according to Bloomberg's
world happiness index. http://www.zerohedge.com/news/2015-04-24/america-ranks-below-israel-world-happiness-index
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The
'Relentless' Greek Debt Payment Schedule. Submitted by Tyler Durden on 04/24/2015. Greece, which owes
€324 billion to the International Monetary Fund, the European Central Bank, and
euro zone governments, faces a relentless debt payment schedule over the
next few months.
As
Bloomberg reports, little money has been coming into the country, however,
and talks over the release of bailout funds are progressing slowly. The
government has been meeting obligations by drawing on its cash reserves.
In a move that could keep the country afloat until the end
of May, Prime Minister Alexis Tsipras ordered municipalities to transfer funds,
estimated at about €1.5 billion, to the central bank.
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Electric
Car Sales Plunge To 4 Year Lows. Submitted by Tyler
Durden on 04/24/2015. But low oil prices are supposed to be unequivocally
good? On the day when Ford
lays off 700 Michigan plant workers in small cars and hybrids manufacturing,
The
Detroit News reports that, according to Edmunds.com, sales of electric
cars and hybrids are at the lowest level since 2011. What is even more
worrisome, motorists who leased those first-generation cars, and have decided
not to buy them, are turning them in, leaving dealer lots full of low
mileage cars at huge discounts to new ones. As Edmunds concludes, while "the
government's going to keep pushing it, there is time to pause right
now."
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Puerto
Rico Warns Of Imminent Government Shutdown Due To "Liquidity Crisis".
Submitted by Tyler Durden on 04/24/2015. "A
government shutdown is very probable in the next three months due to the
absence of liquidity to operate," Puerto Rico's finance officials warn, in
an effort to shock lawmakers into action and avoid a potential
"PRimbo".
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"Greece
Can No Longer Withstand The Waves Of Desperate People Arriving From War
Zones". Submitted by Tyler
Durden on 04/24/2015. "The EU and US need to hear the pleas coming
from the southern European countries, as well as those of the refugees. The
humanitarian catastrophe has reached large scale, with profound and
irreversible consequences. Greece is paying a disproportionately high price,
although Greece played no role in triggering this catastrophe. The EU
and the US have the moral obligation, which is also consistent with their
long-term interests, to take the necessary steps to put an end to the suffering
of those in war zones, while at the same time preventing Greece’s collapse
under the mounting pressure of refugees."
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A
Plot To Hold Down Oil Prices Or Just A Happy Coincidence?. Submitted by
Tyler
Durden on 04/24/2015. The recent unprecedented surge in oil imports has
again prompted a review of things here. In a prior
story, we wrote that the lack of capacity to process light sweet crude at
refineries produced via shale plays could be playing a role in the stock build.
As mentioned previously, refineries over the next 24 months are expected to add
700,000 B/D in capacity to handle this type of crude. In the meantime, we have
noticed an unusual amount of crude being imported, possibly as a result of this
imbalance in refinery capacity. Or could it be that a more sinister plot is
afoot?
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Submitted by Tyler
Durden on 04/24/2015 - 07:38
- Obama’s Drone-Strike Rules to Be Reviewed (WSJ)
- Hostage locations difficult to track - and may be getting harder (Reuters)
- Varoufakis Said to Take Hammering From Riled EU Ministers (BBG)
- EU Frustration Mounts as Greeks Try to Bypass Aid Process (BBG)
- Kleiner Perkins seeks almost $1 million in costs in Pao case (Reuters)
- Google Misses, Caps Costs as Growth Slows (WSJ)... stock surges
- Oil prices trade near 2015 highs on Yemen worries (Reuters)
- Pentagon Announces New Strategy for Cyberwarfare (NYT)
- Bloomberg Oil at $65 Seen Freeing 500,000 Barrels From Shale Fracklog (BBG)
- ‘Flash Crash’ Trader Navinder Sarao: It Was Wits, Not Bits (WSJ)
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WASHINGTON BLOG
If
You Want the NSA Passing Around Your Nude Pics, You’ll LOVE the Treaties Being
Secretly Negotiated Without Your Consent. Posted on April 24, 2015 by WashingtonsBlog
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The World Happiness report finds that Mexicans are
happier than Americans:
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Does Peter Lynch’s Theory Translate To The Resource
Sector?
When explaining what insider buying meant, Peter translated
this from a company perspective; ignoring interest rates, and market forecasts. But when a
company insider purchases company stock in the energy sector, management can’t
afford to ignore oil price forecasts.
By James Stafford Of Oilprice.com
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The
Trans-Pacific Partnership and the Death of the Republic. Posted on April 24, 2015 by WashingtonsBlog . Guest post by Ellen Brown.
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TPP
Would Destroy State, County and Local Government Power. Posted on April 24, 2015 by WashingtonsBlog
The Trans Pacific Partnership (TPP) would take sovereignty
away from the American government … and hand it to a bunch of giant
corporations, many of them foreign. It
would also take sovereignty away from state, county and local
governments …
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Obama
Urges Saudi Dictator Abdulaziz to Keep Attacking Yemen. Posted on April 24, 2015 by Robert Barsocchini
Obama expressed his desire for Saudi dictator
Abdulaziz to continue his illegal assault on Yemen, “pushing for a continuation
of the war” and announcing, mafia-like, that “the job is not done”.
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GLOBAL RESEARCH
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Pakistan:
Obama Admits US Drone Strike Killed Two Al Qaeda Hostages, a US Professor and
an Italian Aid Worker By Patrick Martin
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NOTICIAS EN ESPAÑOL
Año de resistencia e internacionalismo. Jeannette Charles
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Entrevista al economista Leonidas Vatikiotis,
miembro de la comision de auditoria de la deuda
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TTIP Tratado de libre comercio entre la UE y
EEUU
Por qué se rebelan las ciudades y las regiones. Amelie Mougey
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Acuerdo de libre comercio EEUU-UE
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PRESSTV
US
pushing Saudi to continue Yemen war. Fri Apr 24, 2015 Political analyst
James Petras says the United States advised Saudi Arabia to continue its
attacks against Yemen.
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Drone
strikes 'ugly part' of US wars. Fri Apr 24, 2015 US drone strikes
against Muslim countries are an “ugly part” of American war fare, a political
analyst in Boston says. [WHERE is the NICE one?]
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Iran,
P5+1 start bans removal draft. Fri Apr 24, 2015 A senior Iranian
nuclear negotiator says Iran and the P5+1 countries have started drafting on
removal of sanctions.
[the planned blackmail is on and IRAN still there playing this
idiotic game]
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‘US
presence in Ukraine breaches truce’. Fri Apr 24, 2015 An analyst says
the presence of 300 US paratroopers in Ukraine is in breach of the Minsk peace
deal.
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‘US
presence in Ukraine breaches truce’. Fri Apr 24, 2015 An analyst says
the presence of 300 US paratroopers in Ukraine is in breach of the Minsk peace
deal.
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$1.3
billion of Afghan aid missing . Fri Apr 24, 2015 The Pentagon cannot
account for $1.3 billion of an emergency funding which was directly routed to
US military officers in Afghanistan.
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US
Senate begins debate on Iran bill . Fri Apr 24, 2015 The US Senate is
set to begin debate on bipartisan legislation that would give Congress the
authority to review any final nuclear deal with Iran.
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