• Sprott Money
    04/29/2016 - 05:58
    There is unfortunately no basis for renewed optimism that this current litigation will have any meaningful impact on precious metals manipulation – with respect to either silver or gold.

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Priceline CEO Resigns After Revelation Of Inappropriate "Personal Relationship With An Employee"

"Mr. Huston resigned following an investigation overseen by independent members of the Board of Directors of the facts and circumstances surrounding a personal relationship that Mr. Huston had with an employee of the Company who was not under his direct supervision.  The investigation determined that Mr. Huston had acted contrary to the Company's Code of Conduct and had engaged in activities inconsistent with the Board's expectations for executive conduct."


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2.607 Days Later, The "Most Hated Bull Market Ever" Is Now The Second Longest In History

It's official: as of today the bull market that has been mocked as fake, doomed and history’s most-hated just earned a new title: the second-longest ever. And it only took $14 trillion in central bank liquidity, a global, coordinated central bank "put", central banks purchases of Treasuries, MBS, ETFs and corporate bonds,  and nearly 700 rate cuts in the past 7 years to achieve it.


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Global Stocks Plunge After Bank Of Japan "Shock"

Less than one week after the BOJ floated a trial balloon using Bloomberg, that it would reduce the rate it charged some banks which set off the biggest USDJPY rally since October 2014, we are back where we started following last night's "completely unexpected" (for everyone else: we wrote "What If The BOJ Disappoints Tonight: How To Trade It" hours before said "shock") shocking announcement out of the BOJ which did absolutely... nothing. "It’s a total shock,” Nader Naeimi, Sydney- based head of dynamic markets at AMP Capital Investors told Bloomberg. "From currencies to equities to everything -- you can see the reaction in the markets. I can’t believe this. It’s very disappointing."


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Frontrunning: April 28

  • Markets Get the Worst Kind of Kuroda Surprise as BOJ Stands Pat (BBG)
  • Bank of Japan brushes aside calls for more easing despite price falls (WSJ)
  • Ford Profit Surges to Record as Sales of SUVs, F-150 Gain Speed (BBG)
  • Valeant Pharmaceuticals to Make Sweeping Changes to Board (WSJ)
  • Trump breaks taboos, attacks Clinton on gender issue (Reuters)

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China "Wealth Manager" Disappears With $154 Million

It now appears that we've reached the point in the China speculative frenzy game where instead of waiting around to be arrested, those running shady ponzi schemes are now pulling the ripcord, clearing out as many bank accounts as possible, and just disappearing.


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Mega M&A Is Back: Abbott Buys St. Jude Medical For $25 Billion, 37% Premium

The great megadeal M&A drought of 2016 just came to an end when moments ago Abbott announced it would acquire St. Jude Medical for $25 billion, roughly a 37% premium to St. Jude's Wednesday closing price. According to the press release, under the agreement, St. Jude Medical shareholders will receive $46.75 in cash and 0.8708 shares of Abbott common stock, representing total consideration of approximately $85 per share. At an Abbott stock price of $43.93(2), this represents a total transaction equity value of $25 billion.


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"Nobody Knows Anything" - The Battle Of The Oil Analysts

The famous Hollywood adage - 'nobody knows anything' - seems to perfectly apply to the current turbulence in the oil market. So in an effort to clarify where the global oil economy is heading to, let’s engage in a Battle of the Oil Analysts. Relying on these Oil Analysts (OA) does not necessarily mean you will be handed straightforward answers, but perhaps with some luck you will see a ray of light.


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Greek Default Looms In July After EU Rejects Greek Emergency Summit

Those who thought the situation in Greece was solved after prime minister Alexis Tsipras suddenly caved in to creditors’ demands need think again. Greek tax revenues are running well under expectations. A default looms in July unless the creditors give more money to Greece so that Greece can pay back the creditors. As convoluted as that sounds, that’s precisely the way this madness works. The creditors demand still more austerity but Tsipras said “no”. Instead, Tsipras seeks an emergency meeting, but European Commission president Donald Tusk said “no” to that proposal.


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Japanese Bloodbath After BoJ Disappoints - Nikkei Drops 1000 Points, USDJPY Crashes

If there was a sign that nothing else matters but central bank largess, this was it. The moment The Bank of Japan statement hit and proclaims "unchanged" a vacuum hit USDJPY and Japanese stocks. Reflecting that Japan's economy has "continued a moderate recovery trend" which is utter crap given the quintuple-dip recession, Kuroda and his cronies said they will "add easing if necessary" and apparently that is not now. Not so much as a higher ETF purchase or moar NIRP.. and the aftermath is carnage - NKY -1000 points and USDJPY crashed to a 108 handle!!


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This Is The End: Venezuela Runs Out Of Money To Print New Money

Venezuela is now so broke that it no longer has enough money to pay for its money.


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"We All Work As A Team" - Millennials Explain How It's Going Living 'Rent-Free' At Home

"I had an apartment in Chicago. It was tiny and expensive. I was miserable. I moved back... My parents have done so much for me, and now they're letting me live here rent-free, so I try to help out. I pick up my sister from school, do the dishes or whatever chore needs to be done. My mom makes dinner. We all work as a team."


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Paul Craig Roberts: World War III Has Begun

The Third World War is currently being fought. How long before it moves into its hot stage?


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Apple Suicide: Man With Head Wound Found Dead Inside Apple Conference Room; Gun Nearby

Deputies were called to the company's corporate headquarters on Wednesday morning after a person was found dead, but only few details were immediately available. Multiple police vehicles could be seen at the campus.


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Central Bankers To The Masses: "Let Them Eat Rate"

A new generation of revolutionary central bankers must be called to arms for all of our sake. Their battle cry: We commit to never returning rates to zero or below again, to never let be money be free and forever ensure there is a true cost associated with borrowing. Release the markets to set interest rates now and forever! Will it work? Stranger things have been known to succeed in capitalistic economies with competitive and freely functioning markets.


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