MAY 12 SIT EC y POL
ZERO HEDGE
Europe
Preparing Greek Bankruptcy Loan "In Event Of Grexit". Submitted by Tyler
Durden on 05/13/2015. As reports surface that Greece tapped IMF funds to
repay the IMF, and as Christine Lagarde and company express their reservations
about participating in a new Greek bailout program, the end appears to be nigh
for Athens. According to Bloomberg, Europe is now drawing up the dreaded
"Plan B", which just three days ago, supposedly didn't exist.
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America's
Achilles' Heel. Submitted by Tyler
Durden on 05/12/2015. Instead of collapsing quietly, the US has decided
to pick a fight with Russia. It appears to have already lost the fight, but
a question remains: How many more countries will the US manage to destroy
before the reality of its inevitable defeat and disintegration finally catches
up with it? As Putin said last summer when speaking at the Seliger youth forum,
“I get the feeling that no matter what the Americans touch, they end up
with Libya or Iraq.” But there is another question that deserves to be
asked: Do the Americans “touch” themselves? Because if they do, then the
next candidate for extreme makeover into a bombed-out wasteland might be the
United States itself...
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Chinese
Stocks Overtake US As Most Actively Traded Futures Contract In The World.
Submitted by Tyler Durden on 05/12/2015. Having lost its
mantle as largest economy in the world to China... and world's biggest oil
importer (again to China), 'exceptional' USA appears to have just lost its
Number 1 status in financial market depth to China also...
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More
Spending Is Not The Answer To A Slow Economy. Submitted by Tyler
Durden on 05/12/2015. Matching the hindrances of the interventionist
state is the manipulations of money and interest rates by central banks
everywhere, which distorts markets, misdirects capital and labor use
resulting in unsustainable booms and inescapable downturns that bring about
wrongly invested capital and misallocated labor. This “wrong twists” to the
market takes time to overcome and correct. It is government
impediments to open, competitive markets – whether in America or in other parts
of the world – that are the causes to behind slow growth and sluggish job
creation, not “the rich” and their savings.
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US
May Use Military To Confront China In South China Sea Islands Dispute. Submitted
by Tyler Durden on 05/12/2015. Just days after
Japanese PM Shinzo Abe leaves Washington (having stepped up his nation's
military assertiveness), The
Wall Street Journal reports that the US Secretary of Defense has asked
staff for military options in the South China Sea (as
we have detailed China's land reclamation efforts): U.S. MAY USE
MILITARY TO CONFRONT CHINA IN SPRATLY ISLANDS DISPUTE: WSJ Having
ironically commented on China's "bullying," it appears
Nobel-Peace-Prize winner President Obama is preparing for an even bigger
objective, amid China's rising threat to USD dominance (with Yuan
liberalization and AIIB success).
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NY
Governor Probes Nuclear Plant 'Incident' As Oil Spills Into Hudson River.
Submitted by Tyler Durden on 05/12/2015. Having
explained to the general public that there was nothing to be concerned about,
when an exploding transformer shut down at least one unit of the Indian River
nuclear power plant, noting "no danger to public safety," it appears
the situation is not as 'contained' as officials hoped. As Sputnik News
reports, thousands of gallons of oil that leaked into the Hudson River after
the explosion has formed a gigantic oil sheen on the waterway. NY Governor
Andrew Cuomo has demanded a probe into the incident, adding that Entergy
and contractors will clean up the spill.
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How
Much Longer Can The Oil Age Last?. Submitted by Tyler
Durden on 05/12/2015. History has been so fascinated with oil and its price
movements that it is indeed hard to imagine our future without oil. The
world is still myopic when it comes to energy. Yes, it wants to embrace
renewables but not at the cost of oil. Whatever happens to oil prices in
the coming years, one thing is certain: that the age of oil isn’t ending
anytime soon, at least not in the next 30 years.
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A
Tale Of Two Graphs - Why Bubble Finance Will Fail. Submitted by Tyler
Durden on 05/12/2015. We have called this a tale of two graphs. But what
it really describes is a clear and present danger to American capitalism
fostered by an unelected monetary politburo in thrall to its own lust for power
and mesmerized by its own doctrinaire group think. The tragedy is that
nothing can stop them except the thundering crash of the gargantuan bubble they
have single handedly enabled.
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The
Potatoes Of Wrath: Kerry Caption Contest. Submitted by Tyler
Durden on 05/12/2015. John Kerry came, read Putin a long
list of grievances that the US has with Russia's ongoing opposition to
everything Obama does around the globe and prevents him from setting a unipolar
global agenda, and left, but not before he handed the Russian a basket full
of potatoes.
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Riddle
Me This: The Difference Between Headlines And Reality. Submitted by Tyler
Durden on 05/12/2015. What is extremely clear is that there is something
amiss with the statistical headline employment and economic data. While
there are indeed pockets of improvement, which should be expected following a
recessionary contraction, there is a lack of widespread recovery. That
sentiment is clearly reflected in every major poll of American's over the last
year. What is important is that there is a clear disconnect between the
financial markets, statistical economic headlines, and the reality of the vast
majority of American consumers. So, riddle me this - what happens when
that disconnect is eventually resolved?
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Senate
Democrats Defeat The President: Why Obama Is Rushing To Fast-Track The TPP.
Submitted by Tyler Durden on 05/12/2015. Moments ago, in an
embarrassing setback for the president, Senate Democrats in a 52-45 vote -
short of the required 60 supporters - blocked a bill that would give President
Barack Obama fast-track authority to expedite trade agreements through
Congress, a major defeat for the president and his allies who "say the
measure is necessary to complete a 12-nation Pacific trade deal that is a
centerpiece of the administration’s economic agenda." But don't count it
out yet: the WSJ cites Mitch McConnell who told reporters shortly before the
vote, which he expected to lose, that “This issue’s not over" adding that
"I’m hopeful we’ll put this in the win column for the country sometime
soon.”
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Canaries
In The Coal Mine, Part 1: Tech High-Flyers Fall To Earth. Submitted by Tyler
Durden on 05/12/2015. Bull markets don’t end all at once. Generally
a few egregiously-overvalued sectors blow up first and are dismissed by most
observers as aberrations. Instead, they turn out to be a sign of things to
come. In the previous decade’s bubble it was subprime housing that led the
way, while being initially characterized by experts as too small to matter.
Click
here for Ben Bernanke’s ongoing attempts to convince the world to relax and
ignore housing’s problems. This time around we of course won’t know
until after the fact which sector is the canary in the coal mine. But these
epic fails in the bubbly social media/online marketplace region of tech
certainly look like viable candidates.
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Kerry
& Lavrov Hold Joint Press Conference After "Open, Friendly,
Business-Like" Meeting - Live Feed. Submitted by Tyler
Durden on 05/12/2015. After what we are sure was a 'productive' day's
discussion, US Secretary of State John Kerry and Russian Foreign Minister
Sergei Lavrov are set for a joint press conference... to explain how they have
made-up, forgiven each other, and hugged it out (or not).
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Wall
Street To Enter Hollow Guilty Plea On FX Rigging, Return To Business As Usual.
Submitted by Tyler Durden on 05/12/2015. The Justice
Department looks set to extract "unprecedented" guilty pleas from
some of Wall Street's largest banks in connection with their role in rigging FX
markets. Nevertheless, fears of triggering an "Arthur Andersen
effect" will ensure that once again, TBTF institutions will suffer no
material consequences.
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Kerry
Meets Putin For The First Time In 2 Years As Russia And China Launch First Ever
Joint Naval Drill Submitted by Tyler
Durden on 05/12/2015. According
to the WSJ, the top U.S. diplomat "planned to urge Mr. Putin to abide
by a Ukraine cease-fire agreement reached in February and reiterate the U.S.
pledge to roll back sanctions if Russia is found to be in full compliance, a
senior administration official said."
That's not all: Kerry also intends to push for a bid to
force Syria’s leader from power, nuclear talks with Iran, strife in Yemen
and the fragmentation of Libya, officials said. Kerry also will raise the U.S.
opposition to Russia’s sale to Iran of a powerful air defense system.
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Pope
Warns "Powerful People Don't Want Peace Because They Live Off War".
Submitted by Tyler Durden on 05/12/2015. Amid festering
global conflict, the Pope patiently explains the arms trade to a room full of
school children. "This is serious. Some powerful people make their
living with the production of arms and sell them to one country for them to use
against another country.”
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Iran
Responds To US Naval Escalation, Sends Warship Escort For Yemen Aid Vessel.
Submitted by Tyler Durden on 05/12/2015. The Iranian Navy
is escorting Yemen-bound ships which Tehran says are carrying humanitarian aid
for those caught in the crossfire between the Houthis and the Saudis. Given
'coalition' suspicions surrounding the possibility that Iran is arming
militiamen, expect the US to be very interested in inspecting the aid vessels,
setting the stage for a possible "accident" off the war-torn
country's coast.
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Greece
Effectively Defaults To IMF Using SDR Reserves To "Repay" Fund; 1 Month
Countdown BeginsSubmitted by Tyler
Durden on 05/12/2015. Greece tapped emergency reserves in its holding
account at the IMF in order to make a 750 million euro payment to the Fund on
Monday meaning that, as predicted, the IMF is now paying itself. Athens has
one month to replenish the account. Meanwhile, the Fund has indicated it wants
no part of another Greek bailout. And just to confirm how terminal the
situation for Greece is, MarketNews just reported that Greece now has a
paltry €90 million in cash reserves left. The end of the world's most drawn
out tragicomedy is finally nigh.
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'The
Crash" Will Not Be Caused By An Event.... Submitted by Tyler
Durden on 05/12/2015. When people think about crashes, they tend to
think about an event – as if some massive, grotesque, red, scaly,
fire-breathing, razor-toothed catalyst should be obvious beforehand. But
we know from history that that’s not the way it works...
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Central
Planning + HFT = Global Bond Crash. Submitted by Tyler
Durden on 05/12/2015 -
"What most traders have said though is that
liquidity is awful. Big moves are possible on relatively low or average volumes.
What has become increasingly clear over the last couple of years is that the
combination of high money liquidity (ZIRP and QE) and low trading liquidity
(regulation and bank capital constraints) creates air pockets. The former
encourages investors to move in a similar (positive) direction until
overheating occurs with the latter then creating problems when they want to
collectively lighten up. However that this is increasingly spreading up the
top of the capital structure is a worry. It’s also a worry that these events
are occurring in relatively upbeat markets. "
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Submitted by Tyler
Durden on 05/12/2015 - 07:48
- Bonds Extend Global Rout as Europe Stocks Slide, Dollar Weakens (BBG)
- Verizon Communications to Buy AOL for $4.4 Billion (BBG)
- Fresh Nepal earthquake kills dozens, triggers panic (Reuters)
- Sen. Shelby to Unveil Legislation Heightening Fed Scrutiny (WSJ)
- Bill Gross: The Amount of Money I'll Give Away 'Is Staggering, Even to Me' (BBG)
- U.S. rejects notion that Gulf rulers snubbing Obama summit (Reuters)... what about AIIB?
- In Asia, Debt Market Gets Tougher (WSJ)
- Iran’s Mahan airline defies sanctions in shadowy aircraft deal (FT)
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China
Could Hold Oil Market To Ransom, Tops US As World's Largest Importer. Submitted
by Tyler Durden on 05/12/2015. For the first time
in history, China overtook the US as the world’s biggest importer of crude
oil in April, as The
FT reports, representing the culmination of a seismic shift in global
energy flows over the past decade. The jump in China imports last month was
partly down to higher shipments from Iran, who "may be offering more
discounts on its oil as part of an effort to increase ties with Chinese oil
companies," according to consultancy Energy Aspects. "Iran is keen to
secure more Chinese investment." But as OilPrice.com's
Jim Hinton warns this shift means that China could hold the oil markets to
ransom... And that means that oil futures are tied intimately in with China
and the future of the South China Sea.
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WASHINGTON BLOG
Making a Difference. Mark Twain said: If voting made any difference they
wouldn’t let us do it.
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Pulitzer-prize winning reporter Seymour Hersh’s new report shreds the CIA’s claim that torture led the
U.S. getting bin Laden.
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Trans Pacific Partnership Petering Out. The Senate just voted down fast-track
authority for the tyrannical Trans Pacific
Partnership deal.
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The U.S. is seeking a rapprochement with Iran over its
nuclear program, potentially ending several decades of hostility. But while the
U.S. is extending an open hand to Iran, other countries in the Middle East are
casting a wary eye towards the negotiations.
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FUTURE FAST FORWARD
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INFORMATION CLEARING HOUSE
America's
Achilles' Heel
By Dmitry Orlov
The US has decided to pick a fight with Russia. It appears to have already lost the fight, but a question remains: How many more countries will the US manage to destroy before the reality of its inevitable defeat and disintegration finally catches up with it?
By Dmitry Orlov
The US has decided to pick a fight with Russia. It appears to have already lost the fight, but a question remains: How many more countries will the US manage to destroy before the reality of its inevitable defeat and disintegration finally catches up with it?
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America as
Dangerous Flailing Beast
By John Chuckman
Despite pretty talk about “democracy” and “human rights,” U.S. leaders have become the world’s chief purveyors of chaos and death.
By John Chuckman
Despite pretty talk about “democracy” and “human rights,” U.S. leaders have become the world’s chief purveyors of chaos and death.
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Rejoice With
The ‘New’ House of Saud
By Pepe Escobar
Imagine the outrage, broadcasted to distant galaxies, if this was taking place in certified opponents of the Empire of Chaos such as Iran, Venezuela, Ecuador, Russia or China.
By Pepe Escobar
Imagine the outrage, broadcasted to distant galaxies, if this was taking place in certified opponents of the Empire of Chaos such as Iran, Venezuela, Ecuador, Russia or China.
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Bin Laden
the Vindicator - Murder without Corpse
By Linh Dinh
Within hours of finding her public enemy number one, America got rid of Bin Laden!
By Linh Dinh
Within hours of finding her public enemy number one, America got rid of Bin Laden!
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Life Amidst
Poverty
By Andrea Fuller
I have lived in poverty both as a child and as an adult, and I can say with full confidence that it is a life-crushing force. I hated it.
By Andrea Fuller
I have lived in poverty both as a child and as an adult, and I can say with full confidence that it is a life-crushing force. I hated it.
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Time to
Ditch Lesser Evilism in USA
By Joe Emersberger
U.S. citizens who are fed up with inequality, war, and environmental destruction should not hold their noses and vote Democrat in 2016.
By Joe Emersberger
U.S. citizens who are fed up with inequality, war, and environmental destruction should not hold their noses and vote Democrat in 2016.
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GLOBAL RESEARCH
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LATINO NEWS
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Cambiará la estrategia de Syriza?. Alejandro Nadal
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Es hora de que el temor a la salida del euro ya
no nos asuste. Stathis Kouvelakis
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PRESSTV
Volvo
shifts into reverse on Iran sanctions . Wed May 13, 2015 Swedish Volvo Trucks Corporation has resumed its
production of heavy trucks in Iran, putting an end to four years of absence
from the country’s massive market under sanctions.
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‘US
does experiments on prisoners’. Wed May 13, 2015 A political analyst
says the United States uses inmates as subjects for experiments, including
medical ones.
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‘Iran
set to send 3 aid planes to Yemen’. Wed May 13, 2015 Iran says it is
ready to send three planes carrying humanitarian aid to Yemen within the next
24 hours.
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‘Iran
not bound to open up military sites’. Wed May 13, 2015 The IAEA's
Additional Protocol to the NPT does not oblige access to the signatories’
military sites, says an Iranian nuclear official.
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