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Do Not Show This Chart To Bank Of Japan Governor Kuroda

As another example of "has the world gone mad?" - we present the following words of wisdom from BoJ Governor Kuroda-san:

*KURODA DOESN'T SEE ANY ASSET BUBBLE OR STOCK MARKET BUBBLE, OR ANY 'FINANCIAL EXCESS' IN ECONOMY

And in the interests of sanity, we highly suggest he not look at the chart below...



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Apple Co-founder: "Snowden Is A Hero To Me"

"Total hero to me; total hero... Not necessarily [for] what he exposed, but the fact that he internally came from his own heart, his own belief in the United States Constitution, what democracy and freedom was about."



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"New Silk Road" Part 2: Cold War Or Competition?

In Part 1 of “The New Silk Road,” we examined the China’s plan for rebuilding the Silk Road, stretching from Europe to Asia. In Part 2, we look at currently proposed projects, and geopolitical rivalries that could stall and hamper progress. Until very recently, it was widely assumed that the US would lead its western allies in a campaign against the Russian/Chinese deal to develop the Silk Road, but events have been reversing with remarkable speed.



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Who Would Win A Conflict In The South China Sea: The Infographic

The US and China are racing towards a maritime conflict stemming from Beijing’s construction of what Washington has condescendingly called “sand castles” in the Spratly archipelago. With Beijing set to enforce what is effectively a no-fly zone over its new sovereign ‘territory’ we bring you an infographic which shows that when it comes to sheer size, China’s air force and Navy are beyond compare.



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Global Youth Unemployment Hits 35 Million As Recent Grads Lean On Parents

"More than 35 million young people, aged 16-29 are neither employed nor in education or training," the OECD reports. Meanwhile, two-thirds of college graduates will depend on their parents for up to five years after graduation in the US.



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Why Russia Is On A Gold Buying Spree

"As you know we are increasing our gold holdings, although this comes with market risks. The price of it (gold) swings, but on the other hand it is a 100 percent guarantee from legal and political risks."



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Understanding The Next 10-Years Of Low Returns

Markets are not cheap by any measure. If earnings growth continues to wane or interest rates rise, the bull market thesis will collapse as "expectations" collide with "reality." This is not a dire prediction of doom and gloom, nor is it a "bearish" forecast.  It is just a function of how markets work over time. This time is "not different." The only difference will be what triggers the next valuation reversion when it occurs.



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These 19 Passports Will Be A Lot More Valuable On July 1st

Representatives from the European Union recently closed out a summit in Riga to decide the future of EU visa policy with respect to Ukraine. Once again, Ukraine was denied visa-free access to the EU, proving that “European support” for Ukraine against Russia is just hot air and empty promises. There are, however, 19 other countries, which will be joining the EU visa-free list as of July 1, 2015.



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Democracy Or Oligarchy - You Decide

In the interests of clarifying what it is that America has become, we offer this...



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IRS Blames Taxpayer Data Breach On Russian "Crime Syndicates"

"The IRS believes that a major cyber breach that allowed criminals to steal the tax returns of more than 100,000 people originated in Russia", CNN says, in what amounts to an escalation of what Washington claims is a cyberwar against a growing list of so-called "cyberadversaries."



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Crude Craters After API Reports "Disappointing" Inventory Build

WTI Crude hit new 6-week lows at $57.36 after the close as API inventory data showed a build of 1.268 million barrels (after 3 weeks of draws) - dramatically higher than the 5.2mm barrel draw last week. Cushing saw a very small 72k draw.



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Welcome To The Funny-Money Generation

Genuine economic growth is something you can allow, but you cannot force. If you try to trick your way to it – with phony interest rates, more debt, and cockamamie inflation targets – you will retard the growth, not speed it up. This is obvious, too. But Ms. Yellen is paid not to see it. And in the absence of real growth, the Dow at 18,000 looks vulnerable. It wouldn’t be at all surprising to see a rolling top take shape... with a sharp break in the fall. But here we leave the vagaries of the market to pay homage to America’s Second Greatest Generation.



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Low Wages & Unemployment Are An Existential Crisis For Millions

If millions of young Americans don't start earning more money, they can't afford to have children, or take care of them properly, and that is the end of us as a nation.



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Switzerland To Open Bitcoin Bank As Crypto "Fort Knox" Relocates To Zurich

Switzerland is set to open its first Bitcoin bank, multiple sources tell Handelszeitung. Meanwhile, Xapo, the self-appointed "Fort Knox" of the crypto currency world, is relocating from Silicon Valley to Zurich.



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