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Former Fed Governor Admits Market Controlling The Fed Is A "Very Dangerous Development"

The constant changes to Fed policy targets and enslavement to the ticker must change, according to former Fed Governor Kevin Warsh. "The markets think they have Yellen's number," that she will never allow markets to go down, Warsh warns "that is a very dangerous development." What worries Warsh the most, however, is "The Fed's policies changing based on what happens on the ticker... The Fed should be thinking 3 to 4 years ahead." Investors "think good times can last forever," he notes ominously, "we tried negative real rates in the mid 70s and the early 2000s and both ended badly." Someone is not getting invited back on CNBC...



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Massive Blackout Hits Turkey, Grounding Planes, Stopping Subways; Terror Not Ruled Out

Turkey suffered a massive power outage that left half of the country’s 81 provinces without electricity, in what was the largest blackout in a decade and a half. Possible causes include a cyber attack and/or cats...



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Frontrunning: March 31

  • Iran, powers push for nuclear deal as clock ticks toward deadline (Reuters)
  • How DIY Bond Traders Displaced Wall Street’s Hot Shots (BBG)
  • MillerCoors Caught in a Downdraft (WSJ)
  • Saudi-led strikes again hit Yemen overnight (Reuters)
  • Even With Free Money, Merkel Still Reluctant to Spend (BBG)
  • Britain Uses Tax Breaks to Lure Digital-Game Developers (WSJ)
  • China to Insure Deposits in Move Toward Scrapping Rate Curbs (BBG)
  • As China Expands Its Navy, the U.S. Grows Wary (WSJ)


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Futures, Oil Slide As Surging Dollar Now Takes Window Dressing Stage

Did stocks window dressing come one day early in this volatile, bipolar, stop-hunting, HFT-infested market? Looking at futures this morning, which are down about 12 points already on yet another surge in the USD which has sent the EURUSD just above 1.07, the lowest since March 20 , and the USDJPY back under 120 now that the "strong dollar is bad for stocks after all" algo seems to be back from vacation, all those hedge funds who chased risk higher yesterday because their peers did the same, may find they are all selling on the way down. It will be oddly ironic if all of yesterday's widely touted gains evaporate comparably in the first 10 minutes of trading today, and lead to an end in the longest streak of quarterly increases in two decades.



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Broke? You May Now Be Entitled To a Free Home

"Now a legal quirk could bring a surreal ending to... foreclosure cases around the country: [borrowers] may get to keep their homes without ever having to pay another dime."



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Asian Markets Mixed: China Jump, Crude Dump, Japan Slump

The exuberance of illiterate Chinese citizens knows no bounds as Shanghai Composite surges once again to record-er highs (now up over 15% in March alone) with some modest give back off the highs of the day. Japanese stocks on the other hand have folded like a cheap lawn-chair, giving up all their US session gains and down over 200 points from the US cash close. A similar pattern is seen in crude oil which has retraced most of the idiotic NYMEX close ramp.



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The Fed's Startling Student Debt Numbers That Every Young Person Should See

Like many of our prevailing social constructs, this education system is on the way out...



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Did Reuters Falsify The Testimony Of A MH-17 Crash Witness?

Did Reuters fabricate a key part of its story about the downing of flight MH-17 in which the media outlet revealed "new evidence on downing of Malaysian plane over Ukraine." According to the main witness Reuters supposedly interviewed, the answer is yes: “When we talked about the Boeing on camera, I explained everything as I saw it. The things that I allegedly said off-camera, all this nonsense, was made up by the journalist himself. It's all lies, because off-camera, we never discussed the Boeing, and just spoke about life, about the current situation, so to speak.



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"Repeal, Don't Reform The IMF" Ron Paul Rages

By taking money from American taxpayers to support economically weak and oftentimes corrupt governments, the IMF distorts the market, enriches corrupt governments, and harms both the American taxpayer and the residents of the counties receiving IMF "aid." It is past time to end the IMF along with all instruments of American interventionist foreign policy.



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According To The TSA, You May Be A Terrorist If...

The TSA has issued a set of guidelines that, if interpreted correctly, will assist in the identification of terrorists. Do you fit the description?



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Japan "Wakes Up," Joins China-led Development Bank (And Then Backs Out)

In what FT correctly notes is the "biggest coup yet for China," Tokyo looks set to break ranks with Washington and join the China-led AIIB.



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Federal Agents Investigating Bitcoin Money Laundering Extorted, Stole Over $1 Million In Bitcoin

This is one of those sad times when The Onion realizes it has badly, and permanently, missed its IPO window.



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QE For The People - What Could Go Wrong?

A number of economists have proposed the implementation of what has been dubbed "QE for the people." They seem to prefer to apply the principle "When in trouble, double." Given the massive mistakes which were made by central banks from Weimar to Bernanke and the relentless attempts to use the printing press to finance governments, it probably shouldn't take much to convince people of alternatives, and not more of the same, right?



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Is This The Real Reason Putin & Xi Dislike The West?

So is this why Xi and Putin are pissed?



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