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Corruption: That's What Government Was Designed For

“We expect today’s financial system to fall apart in a terrible crash and depression. But we’re looking forward to it.” Simply put, it is the only way to 'correct' the corrupt system... because after all, that’s what government was designed for: to allow one group to rob another. If the elite could take no advantage from it, why would they bother with government at all?



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Welcome To The Ebay Stock Market

When we first brought the world's attention to the 330ET daily ramp in US equity markets, we were shrugged off as conspiracy wonks once again, but 2 years later - as trading activity has become increasingly focused in smaller and smaller windows during the trading day, so the mainstream media has finally been forced to admit that the US equity market has become nothing but Ebay - where everyone waits til the last second.



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Dead Markets Drifting As Dollar Drops



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Obama-Style Immigration Reform May Be Dead As DoJ Won't Seek High Court's Help

Obama-style immigration reform could be dead in the water as the DoJ's decision not to seek a Supreme Court end-around on the President's stalled executive order presents a number of possibly insurmountable problems.



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When Chasing The Tape - Please Mind The Lemmings

"...with each passing session the casino is getting more dangerous, but the lemmings have no clue and the narrative gets ever more specious."



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Welcome To The Recovery 2015: JP Morgan To Fire 5000

"J.P. Morgan Chase & Co. has begun layoffs that are expected to total more than 5,000 by next year, people familiar with the matter said. This latest phase of cuts started earlier this year and would eliminate at least 2% of the bank’s workforce over the next year," WSJ reports.



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The "Revolving Door" Goes Full Retard: SEC Hires Goldmanite Who Previously Worked At The SEC

Just when you thought the US regulators may have finally become less tone deaf to the shame of the revolving door, especially following last year's latest scandal confirming Goldman runs the New York Fed (and every other central bank), here comes the SEC with an absolute shocker, not only proving once and for all that when it comes to regulatory capture, there is nobody in charge quite like Lloyd Blankfein, but unveiling what may have been the first ever double revolving door in SEC history, after the SEC announced it had hired as its new chief of staff a former Goldman worker who had previously worked at... the SEC. And with that the we have gone not only full circle but full retard as well.



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Will The Real Hillary Clinton Please Stand Up?

While Obama unleashes his "folks" phrasing to appeal to middle-America, it appears Hillary Clinton has a different approach in her effort to reach "everyday Americans" - speak in tongues. As The Hill reports, Clinton - who grew up in Chicago - spoke with a Southern accent during a swing through South Carolina yesterday. What is even more disturbing is the fact that it is not the first time she has faked her accent as Bloomberg exposes various versions of American English employed by Clinton, going back to her early years as first lady of Arkansas and first lady of the United States.



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Poroshenko Threatens To Declare Martial Law In Ukraine Within Hours "To Demonstrate Readiness For War"

In the case of any advance of Ukrainian army positions - and who is to say whether there is or not - Ukraine's President Poroshenko says he will declare martial law across his country within hours. As RT reports, Poroshenko added that Ukraine will "demonstrate its readiness for war, for victory, for defense and for peace."



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The Stock Market - A Picture Of Excess

It is unknowable how much more pronounced these excesses can become, especially in light of extremely loose monetary policy around the world. Things could easily become quite dicey as soon as tomorrow, but it is just as easily possible that valuations will continue to expand for some time yet. However, these data do indicate one thing: risk has increased enormously, and it will keep increasing the longer the bubble persists. Frankly, the situation also scares us a bit, because we expect that governments and their agencies (such as central banks) will find it extremely difficult to deal with the next crisis. They have become quite overstretched as a result of the last one. After having gone “all in” last time around, what are they supposed to do for an encore? The only options that come to mind are repressive measures such as capital controls, confiscation of private wealth, and a host of other unpleasantries.



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It's Official: Austria Repatriates Gold, Confirms Loss Of Faith In Bank Of England

Earlier today the Austrian Central Bank confirmed the Kronen-Zeitung report, and said that by the year 2020, it would hold 50%, or 140 tons, of its gold domestically, up from 17% currently. This means that Austria will withdraw some 140 tons of gold from the BOE which holds 80% of Austria's gold currently and send 92.4 tons back home to Vienna with another 47.6 tons being sent to Switzerland. Which is also the biggest news: Austria is explicitly demonstrating a lack of confidence in the "pro-western" system of which the Bank of England is a critical cog, and instead opting for "neutral" Switzerland, which will hold nearly 50 tons of the gold formerly located at the Bank of England.



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The American "Economy" (Summed Up In 1 Cartoon)

Having previously explained why "average joe" will never be wealthy from the stock market, we thought this summed up the new-normal America perfectly...



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"The Greek Endgame Is Here": Probability Of IMF Default Now 70%, Says Deutsche Bank

Amid accelerating deposit outflows and an hourly flow of conflicting headlines, Deutsche Bank is out with a fresh take on the Greek endgame including an analysis of both the political wrangling that would need to take place in order for parliamentary approval of concessions to creditors and the mechanics of a default to the IMF.



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