• GoldCore
    01/31/2015 - 05:00
    We are witnesses to an epic failure of planning, statecraft and social justice. Regardless of where your politics be, these elements are critical for a modern globally connected economy to function....

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Singapore Enters The Currency Wars: Weakens SGD By Most In 3 Years

Today's rambunctiousness in US equity markets as every company (even AAPL admitted this quarter would be more problematic from an FX perspective) rotates from 'weather' excuses to 'currency' excuses is not going to get any better as tonight, yet another world nation entered the 'devalue-or-die' brigade. Singapore's MAS announced a surprise shift in the slope of their policy band - implicitly loosening policy and so the Singapore Dollar dumped over 160 pips against the USD, the biggest drop in almost 3 years, tumbling to its weakest since Mid 2010. Interestingly, against the Japanese Yen this move merely roundtrips SGD strength from yesterday as one wonders who the real enemy in the competitive devaluation game is...



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The New Venezuelan Entrepreneur: Making A living Lining-Up For Toilet Paper

In socialist utopia, Venezuela, not everyone can afford to wait in line half the day just to get a few supplies. Friends and neighbors had started coming to Krisbell, asking her if she could help them get things from the grocery store (they all have to work just to be able to afford the food in the first place, and they can’t spare the time to stand in line). So Krisbell started taking on clients - and now she has enough that she’s earning her entire living from waiting in line. Imagine - an entire cottage industry (absurd as it may be) now exists in Venezuela because of destructive government polices.



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Bonds & Bullion Best Since The Fed 'Spice' Stopped Flowing

Since the end of The Federal Reserve's money-printing machinations (otherwise known as QE3), something odd has happened to global asset markets. US equity markets have suddenly stopped going up, bonds have soared, and physical demand for precious metals is bleeding back into the paper-pricing markets. Furthermore, the ubiquitously suppressed volatility across every asset class has slowly but surely started to decompress.



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Is The BLS Overstating Jobs?

Is the BLS overstating employment growth? I guess it depends on whose data set you choose to believe. However, there is little denying the fact that with over 60% of the population living paycheck-to-paycheck, stagnant wage growth and declining net worth over the last five years, there is something that simply does not add up. If employment growth were indeed growing as strongly as in the late 90's, it would seem logical to expect that many of the disparities in the economic landscape should be starting to equalize somewhat. Unfortunately, that has yet to be the case.



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Medvedev Warns Of "Unlimited Reaction" If Russia Cut From SWIFT

While nations around the world continue to de-dollarize, Russia signed into law its anti-crisis plan today (though details will not be released until tomorrow). Prime Minister Dmitry Medvedev, however, was quite vociferous in some of his threats, warning The West that the "Russian response - economically and otherwise - will know no limits" if Russia is cut off from the SWIFT payments system. Additionally, as Royce, the chairman of the House foreign affairs committee, explains Iran nuclear talks "appear to be stalemated," just days after Iran completes its de-dollarization and news today, that Russia and Iran plan to create a mutual account for bilateral payments in national currencies.



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Apple's Cash Is Now Greater Than The Market Cap Of These S&P500 Companies

With $178 billion in cash, AAPL - which is the largest company in the world with market cap of over $660 billion - has a greater cash hoard than the market cap of all but 17 S&P 500 companies. The table below shows Apple's cash holdings in context.



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Apple Reports Blowout Quarter Due To China Sales Surge, Cash Rises To $178 Billion: The Quarter In Charts

While the rest of the tech space has been sucking wind so far this quarter, Apple just reported its most blowout, and record, quarter in recent history. Their Q1  numbers are simply stunning and as follows:



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How AT&T Just "Beat"

... in one simple chart.



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It’s Not The Greeks Who Failed, It’s The EU

It’s important that we all, European or not, grasp how lacking in morality the entire system prevalent in the west, including the EU, has become. This shows in East Ukraine, where sheer propaganda has shaped opinions for at least a full year now. It’s not about what is real, it’s about what ‘leaders’ would like you to think and believe. And this same immorality has conquered Greece too; there may be no guns, but there are plenty victims. The EU is a disgrace, a predatory beast unleashed upon all corners of Europe that resist central control and, well, debt slavery really, if you live on the wrong side of the tracks. SYRIZA may be the last chance Europe has to right its wrongs, before fighting in the streets becomes an everyday reality.



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Is The US Preparing To Blame The Next Market Crash On "Russian Spies" And HFT?

Spy 1: You can ask about ETF. . . . E-T-F. E, exchange.
Spy 2: Yes, got it.
Spy 1: How they are used, the mechanisms of use for destabilization of the markets.
Spy 2: Aha.
Spy 1: Then you can ask them what they think about limiting the use of trading robots. . . .



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Jim Cramer On The Only Conference Call Worth Listening To

"The only conference call you will ever need," according to Jim Cramer, is Caterpillar, it "is my gospel, my go-to call on which many of my decisions are based... I trust Caterpillar's long-term vision... it is a superb evaluator of what's happening in each of the countries it sells in and gives you the most thorough description of each economy." As Cramer concludes, "Caterpillar's the primer, the sopurce for your global outlook..."



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Cleanest Dirty Shirt? US Macro Data Worst Start To A Year In Over A Decade

"There is no alternative..." "Cleanest dirty shirt..." "Fed has to raise rates..." "Decoupled..." - Umm no! 2015 has started with the worst disappointment and weakness in US Macro data in at least a decade... but apart from that, BTFD!



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Greece At The Crossroads: The Oligarchs Blew It

Once one oligarchy falls, it will threaten to topple a long line of oligarch dominoes.



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