Nueva Democracia

Mar 13 2022 Part B SIT ECON y POL

ND denounce- debacle y propone State-Social + Capit-compet in Eco

ZERO HEDGE ECONOMICS

Neoliberal globalization is over. Financiers know it, they documented with graphics

HISTORIC MARKET DISLOCATIONS IN 35 CHARTS

by Tyler Durden

Let's start with energy dislocations

The amount of backwardation in WTI futures contracts (1st contract versus 6th contract, left chart) is at an all-time high in dollar terms, showing how dislocated oil prices are over the near term. When looking from a ratio basis (on the right), the 1st contract is 20% more expensive than the 6th and not quite as extreme but still the highest for 20 years.

See Charts 1:

Difference in nominal USD between 1^st & 6 WTI futures contract

https://cms.zerohedge.com/s3/files/inline-images/db%20dis%201.jpg?itok=cwEr2ILl

See the last charts:

36bps higher from 2023-2024 than 2025- 2026. Markets are expecting the Fed to have to quickly cut rates shortly after the hiking cycle begins, which looks like a hard landing.

See Chart:

https://cms.zerohedge.com/s3/files/inline-images/3y1y%20vs%201y1y.jpg?itok=EL4d3NFM

Which brings us to what may be our favorite chart: as DB's Jim Reid notes, every Fed hiking cycle in the fiat high debt era has led to some kind of financial crisis somewhere across the world

See Chart:

https://cms.zerohedge.com/s3/files/inline-images/every%20hiking%20cycles%20ends%20in%20crisis%20DB%20update.jpg?itok=vLeE5Rbq

Confirming that the Fed is hiking to purposefully spark a recession - if not depression - in order to destroy enough commodities demand, consumer sentiment gap between present and expected conditions at extremes and suggesting a recession is imminent…

See Chart:

https://cms.zerohedge.com/s3/files/inline-images/consumer%20sentiments.jpg?itok=0WrF6vgn

Finally, DB notes that typically flights to liquidity force issuers to pay higher rates for unsecured funding, at both term and overnight tenors. But this time, the cost of 3m funding has spiked while overnight funding rates have been flat, suggesting there are dislocations in filtering the glut of USD in the system to borrowers.

See Chart:

https://cms.zerohedge.com/s3/files/inline-images/3%20month%20and%20overnight%20unsecured%20bank%20funding%20costs.jpg?itok=Q1XGWEpM

….

SOURCE: https://www.zerohedge.com/markets/historic-market-dislocations-35-charts

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US DOMESTIC POLITICS

Seudo democ duopolico in US is obsolete; it’s full of frauds & corruption.

MINNESOTA NON-PROFIT SET UP TO FEED CHILDREN ACCUSED OF MASSIVE FRAUD AND MISAPPROPRIATING "TENS OF MILLIONS OF DOLLARS"

Anonymous

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"MEDIA ISN'T WARNING YOU" THAT US CAREENING TOWARDS FOOD CRISIS

Anonymous

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WHAT JOE BIDEN'S EXECUTIVE ORDER ON DIGITAL ASSETS REALLY MEANS

By Tyler Durden

First, the US wants to be the global leader in digital asset innovation. This is similar to the embrace of the internet in the 1990s, where US technologies eventually proliferated throughout the global economy. Yes, it happened more slowly than technologists would have liked back then too. Congress first started working with an electronic mail system in 1993, and internet laws only began in 1996 (here). For those working on the technology, the years of wait surely felt like a lifetime. Yet, arguments of bad operators dominating the internet seem like a lifetime ago. Digital assets are at a similar policy inflection point to the 1990s internet.

Like the internet back then, policy is now focused on the benefits of new technologies with a watchful eye on risks

Second, digital currencies are being driven by US national interests. The potential for a US central bank digital currency (CBDC) is deemed urgent by the Order. However, the focus is a bit more subtle, attentive to assessing “the technology infrastructure and capacity needs for a potential US CBDC,” (emphasis added). Our judgment here is simple – US national interests are tied to both the infrastructure used to operate digital assets and the US dollar as a reserve currency in the global financial system

What does this mean in practical terms? Well, the Order sounds the starting gun of an infrastructure footrace. The Federal Reserve entered the 24x7x365 settlement competition in 2019 when it started the development of FedNow (here). But the digital asset ecosystem has a huge lead that it is unlikely to relinquish

Third, the focus on strategic financial stability is telling of the desire to integrate digital into the mainstream. The Financial Stability Oversight Council, the highest body on stability matters, is charged with the task of mitigating systemic risk.

Of course, the underlying technologies demonstrate remarkable resilience.

Finally, the devil is always in the details – we are now closer to a single digital regulator. Even if there were not a single regulator formally recognized, the whole-government approach makes it clear that regulatory entities will be cooperative in their approach. The Order provides political cover for entities to reframe and rethink their positions

Make no mistake, the regulatory environment will change with the legal structure of trading activity in the digital era. Great efforts are being made to provide lawmakers with clear frameworks on these issues. Testimony from Alesia Haas to the US House Committee on Financial Services is notable (here). Figure 1 illustrates the current, cumbersome legal web involved in a trading transaction that requires the current layers of regulation.

See Chart:

https://assets.zerohedge.com/s3fs-public/inline-images/legal%20trading%20architecture.jpg?itok=srE4LivQ

Figure 2 shows the future of finance – minimalist by comparison with only five simple nodes. The regulatory boxes required in Figure 1 are just not applicable to Figure 2; the efficiency gains of embracing digital will be tremendous

See Fig 2

https://cms.zerohedge.com/s3/files/inline-images/future%20of%20finance%20bitcoin.jpg?itok=HQVeX6Kr

The Order puts to rest the debate about whether and where digital will fit into the future of finance.

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SOURCE: https://www.zerohedge.com/crypto/what-joe-bidens-executive-order-digital-assets-really-means

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2.8 MILLION FOWL (MOSTLY CHICKENS & TURKEYS) HAVE DIED IN THE FIRST MONTH OF AMERICA'S RAGING NEW BIRD FLU PANDEMIC

Anonymous

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US-WORLD ISSUES (Geo Econ, Geo Pol & global Wars)

RUSSIA SEEKING CHINA'S MILITARY HELP IN UKRAINE, US "SOURCES" SAY IN AFTERNOON OF MEDIA LEAKS; CHINA RESPONDS: "NEVER HEARD OF THAT"

by Tyler Durden

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GOLDMAN TRADER: "THE PAST FEW WEEKS HAVE POURED KEROSENE ON A TECTONIC SHIFT THAT'S TAKEN SHAPE OVER THE PAST SIX YEARS"

by Tyler Durden

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MEANWHILE IN CHINA, ALL HELL IS BREAKING LOOSE

Anonymous

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COVID, WEAK CREDIT SPARK TALK OF CHINA RATE CUT

Anonymous

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MEANWHILE IN CHINA, ALL HELL IS BREAKING LOOSE

Anonymous

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BITCOIN SLIDES AHEAD OF EU VOTE WHICH COULD "PRACTICALLY" BAN KEY DIGITAL CURRENCIES

By Tyler Durden

The good news for crypto bulls is that according to CoinDesk, which cites people familiar with the matter that although the vote remains a close call, a small majority of committee members may vote against the measure. If so, the selloff on Sunday night is merely the latest successful attempt at shaking out the weak holders.

See Chart:

https://cms.zerohedge.com/s3/files/inline-images/cryptos%20march%2013.jpg?itok=ZNbkv5rt

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SPUTNIK NEWS : https://sputniknews.com/

- Tesla, SpaceX Seeing ‘Significant Inflation Pressure’ in Raw Materials, Logistics

- North Korea Preparing Another ICBM Missile Test as Soon as 'This Week'

- Sen. Klobuchar: Sharing US Defense Strategy Would Provide Putin With ‘Road Map’ on NATO Moves

- US Police Fear Serial Shooter is Targeting Individuals Living on the Streets in NYC, Washington DC

- Netanyahu Blasts JCPOA Talks Following Erbil Strike

- Tennis Champ Naomi Osaka Brought to Tears After Heckler Shouts 'You Suck' During Indian Wells Match “Suck” was a combination of racism & mesogenic

- Australia Targets 33 Russian Businessmen, Including Abramovich, With Sanctions Amid Ukraine Crisis La mafia ‘AUKUS’ still exist or resurrect with the pest war.

- US Abuses Status of UN Headquarters’ Host County we must get new locat f UN