MAY 20 SIT EC y POL
ZERO HEDGE
The Illusion
Of Democracy. Submitted by Tyler
Durden on 05/20/2015.
Distract, deny, democracy...
The past several
weeks have made one thing crystal-clear: Our country faces unmitigated disaster
if the Other Side wins.
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In
India, Gold Is Not Only Money But Now Pays Interest. Submitted by Tyler
Durden on 05/20/2015. Despite Bernanke's previous protestations that "gold
is not money... it is tradition," in an effort to mobilise
20,000 tonnes of unproductive gold owned by Indian households into cash, Reuters
reports that - after unveiling the gold monetisation scheme on Feb 28th,
India's FinMin Arun Jaitley released bank guidelines overnight on interest
rates, reserve and liquidity ratios. The scheme "allows gold to become
a dynamic, fungible asset in the hands of gold savers," offering
incentives (interest payable in gold) to convince households, who
sometimes have little faith in financial institutions, to break the
tradition and hand over gold passed down the generations.
Despite Bernanke's previous protestations that "gold
is not money... it is tradition," it appears the Indian
government - having
come to the rapid realization that any attempts to thwart the use of gold as a
monetary equivalent merely forced the people to hoard the precious metal in
ever larger amounts and ever more shadow, un-regulated, ways - now
has a very different opinion.
In an effort to mobilise 20,000 tonnes of unproductive
gold owned by Indian households into cash, Reuters
reports that - after unveiling the gold monetisation scheme on Feb 28th,
India's FinMin Arun Jaitley released bank guidelines overnight on interest rates,
reserve and liquidity ratios. The scheme "allows gold to become a
dynamic, fungible asset in the hands of gold savers."
As
we previously noted - before India went full gold-curb-tard when the
finance minister said "demand for gold must be moderated" - this
chart from 2012 shows the staggering eightfold increase in India's gold
loans "which monetize the idle gold in the country", in just four
short years.
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Our
Social Depression. Submitted by Tyler
Durden on 05/20/2015
The consequences of economic stagnation are not limited to
finance: stagnation is causing a social depression.
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China
Bails Out Brazil In $50 Billion Regional Power Grab. Submitted by Tyler
Durden on 05/20/2015. On the heels of pledging $46 billion in
infrastructure aid to Pakistan, China is set to invest as much as $50
billion in Brazil including $10 BILLION ON A
CROSS-MOUNTAIN RAILWAY THAT WILL CONNECT LATIN AMERICA'S LARGEST ECONOMY WITH
PERU'S PORTS in what Premier Li calls "a new road to Asia."
The move is a dramatic example of China's growing foothold in what is
ostensibly Washington's strongest sphere of influence.
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The
Student Loan Write-offs Have Begun: 78,000 Students File For Debt Discharge
After Corinthian Closures. Submitted by Tyler
Durden on 05/20/2015.
"More than 50 consumer and labor organizations sent
a joint petition on Tuesday to U.S. Secretary of Education Arne Duncan, urging
him to cancel federal student loans owed by 78,000 who attended Corinthian
schools," Reuters reports, confirming the notion that for-profit
colleges may represent the next multi-billion dollar taxpayer bailout.
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The
Fed Has Created A "Clockwork Orange" Market. Submitted by Tyler
Durden on 05/20/2015
Stanley Kubrick's highly-disturbing film-version of A
Clockwork Orange takes place in a dystopian futuristic London and exposes the
extreme battle of good versus evil. Extracting out the violence, we can’t
help but notice the symbolic similarities of the motif-ridden story with the
2008 financial market fallout and subsequent attempts at economic
rehabilitation. The film forces us to consider how much liberty we are
willing to give up for order, and how much order we are willing to give up for
liberty. The central idea of the film has to do with the freedom of
the individual to make free choices, but free choice becomes problematic when
it undermines the safety and stability of society. It reminds us of the
markets price discovery mechanisms (or lack thereof).
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If
Your Doctor Drives The Following Cars, He Is Probably A Criminal. Submitted
by Tyler Durden on 05/20/2015. If your doctor
drives any, and certainly all of the cars listed below, there is a
virtually 100% certainty said doctor is a criminal...
... just like the above noted "Doctor" Xiulu Ruan,
M.D., who is a doctor only by title: his real descrption is
"legal" drug dealer, one who provides pain medication to drug
addicted junkies for a (high) fee, and who is a favorite brand ambassador of
such "legal' drug makers as Insys Therapeutics, maker of the Subsys
400 microgram Fentanyl anti-pain spray.
See also the list of crook doctors
Original Source: US
Indictment against John Patrick Couch and Xiulu Ruan
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WalMart's
Leaked Anti-Union Training Video. Submitted by Tyler
Durden on 05/20/2015. An official WalMart “New Associate Orientation”
video has surfaced. In the poorly acted but exceedingly funny nine minute
clip (entitled “Protect Your Signature”), WalMart patiently explains to new
hires why unions are bad.
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Our
"Junkie Economy" Will Soon Hit Rock Bottom. Submitted by Tyler
Durden on 05/20/2015. A robust economy would allow central banks to raise
rates and still allow debts to be paid down. But that is not what is
happening. And it won’t happen. Junkies rarely go out and get a job... and
gradually “taper off” their habit. No. They have to crash... hit bottom... and
sink into such misery that they have no choice but to go cold turkey. Now,
major central banks are committed to QE and ZIRP forever. They have created an
economy that is addicted to EZ money. It will have to be smashed to
smithereens before the feds change their policies.
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Markets Hit All Time High As Massive Spoofing Is Unleashed After FOMC Minutes. Submitted by Tyler Durden on 05/20/2015. Record highs in stocks....thanks to the illegal miracle of spoofing.
A gentle reminder from the minutes that many seemed to have
missed: "some indicators suggested that valuations remained
stretched for some asset classes."
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For
First Time Ever, The Fed Blames HFTs For Reduced Liquidity. Submitted
by Tyler Durden on 05/20/2015. "... it was
suggested that the tendency for bond prices to exhibit volatility may be
greater than it had been in the past, in view of the increased role of
high-frequency traders, decreased inventories of bonds held by
broker-dealers, and elevated assets of bond funds."
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Fed
Doesn't Rule Out June Liftoff As FOMC Minutes Show Fed Fears Post-Hike
Volatility, Dollar Drag. Submitted by Tyler
Durden on 05/20/2015.
FED OFFICIALS GAVE NUMBER OF REASONS WHY 1Q WEAKNESS
TRANSITORY
MANY FED OFFICIALS SAW JUNE RATE RISE AS UNLIKELY
FED OFFICIALS HIGHLIGHTED RISKS OF VOLATILITY AFTER LIFTOFF
MANY FED OFFICIALS SAW JUNE RATE RISE AS UNLIKELY
FED OFFICIALS HIGHLIGHTED RISKS OF VOLATILITY AFTER LIFTOFF
and yet:
FED OFFICIALS GENERALLY DIDN'T RULE OUT RATE RISE AT JUNE
FOMC
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Global
Demand Dearth Costs $1.2 Trillion In Lost Wages, $3.7 Trillion In GDP. Submitted
by Tyler Durden on 05/20/2015. A new report from
The International Labor Organization has quantified the economic impact of
subpar global demand and it is astonishing...
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The
Gloves Come Off: Moody's Warns Of Greek "Deposit Freeze" As Schauble
"Won't Rule Out Default". Submitted by Tyler
Durden on 05/20/2015. Asked whether he would repeat an assurance he gave in
late 2012 that Greece wouldn't default, Wolfgang Schäuble told The Wall Street
Journal and French daily Les Echos that “I would have to think very hard
before repeating this in the current situation.” To which Moody's had just
one thing to add: "there is a high likelihood of an imposition of
capital controls and a deposit freeze."
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Even
Harvard Economists Admit Fed Policy Has "Created Dangerous Risks".
Submitted by Tyler Durden on 05/20/2015. No lesser
establishment economist than Martin Feldstein - Professor of Economics at
Harvard University and President Emeritus of the National Bureau of Economic
Research - has some warning words of wisdom for The Fed today: "...the
Fed’s unconventional monetary policies have also created dangerous risks to the
financial sector and the economy as a whole." When even The Ivory
Tower is losing faith, you know The Fed is in trouble...
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For
Caterpillar, This Is What The "Second Great Depression" Looks Like.
Submitted by Tyler Durden on 05/20/2015. To put Caterpillar's
ongoing second great depression in context, during the Great Financial Crisis,
CAT suffered "only" 19 months of consecutive retail sales declines.
As of April 2015, this number is now 29, and there is no hope in sight of
seeing an annual rebounce any time soon.
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5
Banks To Plead Guilty To Criminal Rigging Charges, Pay $5.6 Billion For
Manipulating Markets. Submitted by Tyler
Durden on 05/20/2015.
As the live webcast from US AG Loretta Lynch indicates,
moments ago the DOJ announced five global banks including Citi, J.P. Morgan,
Barclays, RBS would plead guilty to criminal charges to conspiring to
manipulate FX Prices, and would pay some $5.6 billion in combined penalties to
resolve a long running U.S. investigation into whether traders at the banks
colluded to move foreign currency rates in directions to benefit their own
positions.
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The
Market's One-Sided Game Of Chicken. Submitted by Tyler
Durden on 05/20/2015. That the Fed and other central banks have
unleashed the speculative furies is an unassailable and baleful reality. What
is going on here plain and simple is a one-sided game of chicken.
The robo-traders and hedge fund buccaneers on Wall Street press the market
higher on virtually no volume or conviction whenever macro-economic weakness
presents itself, virtually daring the Fed to maintain is ultra-accommodative
stance still longer. The casino gamblers will keep chop, chop choppin’ higher
until they finally lose confidence that the Eccles building is heaven’s door to
further riches. Then the machines will sell, sell, sell. There will be no
credible Fed speakers to stop them.
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Greece
To Tax Bank Transactions, Says IMF "Won't Get Any Money" On June 5.
Submitted by Tyler Durden on 05/20/2015. "A senior
government official says that among the proposals discussed with the eurozone
and the International Monetary Fund is the imposition of a levy on bank
transactions, whose exact rate will depend on the exemptions that would
apply. The aim is to collect 300-600 million euros on a yearly basis,"
Kathimerini reports. Meanwhile, parliamentary speaker Nikos Filis has a message
for the IMF.
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Submitted by Tyler
Durden on 05/20/2015 - 07:39
- Clinton aides sometimes blocked release of documents requested under public-records law (WSJ)
- House Benghazi panel subpoenas former Clinton White House aide (Reuters)
- Cash Crunch, for Many, Is a Monthly Woe (WSJ)
- Doubts over Greece add to euro's ECB-driven frailty (Reuters)
- For Many American States, It's Like the Recession Never Ended (BBG)
- Japan debt plan needs BOJ to keep rates low for years (Reuters)
- Euro Continues to Fall; European Bonds, Stocks Broadly Steady (WSJ)
- Los Angeles gives preliminary approval to $15 minimum wage (Reuters)
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Welcome
To New Britain - Europe's 21st Century 'Balkans'. Submitted by Tyler
Durden on 05/20/2015. “When you have anti-English, pro-European
nationalists in Scotland and anti-European, pro-British nationalists in
England, spiced up with a few anti-English, pro-European nationalists in Wales
and of course, the anti-each-other, pro-whatever your having yourself, British
and Irish nationalists in that blissfully incoherent chunk of Ulster – Northern
Ireland, you know you’re not in the old UK." Welcome to new Britain,
Europe’s 21st century version of the Balkans!
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Are
They About To Confiscate Money From Bank Accounts In Greece Just Like They Did
In Cyprus?. Submitted by Tyler
Durden on 05/20/2015. Do you remember what happened when Cyprus decided
to defy the EU? In the end, the entire banking system of the nation
collapsed and money was confiscated from private bank accounts. Well, the
nation of Greece is now approaching a similar endgame. At this point, the
Greek government has not received any money from the EU or the IMF since
August 2014. As you can imagine, that means that Greek government
accounts are just about bone dry.
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WASHINGTON BLOG
Super-Militarized
U.S. Police Are Often Less Disciplined and MORE Aggressive Than American
Soldiers. Posted on May 20, 2015 by WashingtonsBlog
We’ve previously documented that – in many respects – American
cops are more heavily armed than
actual combat soldiers on the front line in war zones.
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Israel’s
New Justice Minister Expressed Hatred Against All Palestinians. Posted
on May 20, 2015 by Eric Zuesse.
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In
Iraq, ISIS Is Winning And The United States Is Losing. Posted on May 20, 2015 by WashingtonsBlog . By Michael
Snyder, End of the American Dream.
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GLOBAL RESEARCH
Cholesterol-Lowering
Drugs (Statins) Linked to 50% Increased Risk of Type 2 Diabetes By Robert Harrington
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The
TPP and the TTIP: How Congressional Republicans Lie to Approve Obama’s Trade
Deals By Eric Zuesse
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LATINO NEWS
Perú: De mal en peor. Cecilia Remón
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América unida sigue en lucha. Juana Canga Mahamud
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Reflexiones en torno al cambio histórico
político en la sociedad neoliberal chilena (I). Juan Carlos Gómez Leyton
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PRESSTV
‘Iran
won’t allow military sites inspection’ . Ayatollah
Khamenei says Iran allows no inspection of any military sites by foreigners.
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‘Bin
Laden believed 9/11 was inside job’.
Wed May 20, 2015 In the last days of his life, Osama bin Laden realized
that the September 11, 2001 attacks were an inside job, according to US
intelligence docts.
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Russia
warns Kiev over NATO missiles. Wed May 20, 2015 A Russian official
warns Ukraine against hosting the NATO missile system.
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