• GoldCore
    08/01/2014 - 02:42
    The stealth phenomenon that is silver stackers or long term store of value buyers of silver coins and bars continues and is seen in the record levels of demand for silver eagles from the U.S. Mint....

Tyler Durden's picture

Guest Post: Why Impeachment Is Necessary

The issue of impeachment is now no longer whispered about. Talk is prevalent and a recent poll indicated that 35% of the public believe the president should be impeached. Interestingly, the topic is being promoted more by Democrats than Republicans. Democrats don’t truly believe the President should be impeached, but they see it as a chance, likely their only chance, to bolster their election possibilities this November.



Tyler Durden's picture

Japanese Industrial Production Collapses At Fastest Rate Since 2011 Tsunami

Find the silver lining in this utter disaster... and remember, it's not moar of the same QQE as the BoJ is starting to hit its inflation mandate, misery indices are soaring, and approval ratings tumbling. Japanese Industrial Production in June fell 3.3% (almost triple the expected 1.2% drop) and the biggest plunge since March 2011 (the tsunami). This is the 10th miss in the last 12 months. Simply put, while the progressives would dearly love it not to be true, Abenomics is an epic fail leaving Japan readying itself for yet another lost decade (if it makes it that far without Abe going full militarist).



Tyler Durden's picture

Italian Police Grab $150 Million Assets From Nomura For Defrauding Government

While Goldman's "derivative-based financial advice" to Greece before the EU enabling them to join the party seemingly went unpunished, Nomura has not been so lucky. Having created complex derivatives transactions to 'help' Sicily's regional government, which have now produced major losses for the duped managers, The FT reports Nomura has had property and cash worth $150 million seized related to allegations that the investment bank defrauded the regional government of Sicily with the sale of derivatives in 2002.



Tyler Durden's picture

On Dominoes, WMDs And Putin's "Aggression": Imperial Washington Is Intoxicated By Another Big Lie

Imperial Washington is truly running amuck in its insensible confrontation with Vladimir Putin. The latest round of new sanctions is a counter-productive joke. But it is the larger narrative that is so blatantly offensive - that is, the notion that a sovereign state is being wantonly violated by an aggressive neighbor arming “terrorists” inside its borders. Once again, the American Warfare State has confected a false narrative to justify policies and missions that have nothing to do with the safety and security of the citizens of Lincoln NE and Wooster MA. Unfortunately, false narratives are what the Warfare State does.



Tyler Durden's picture

China Meat Scandal Spreads: McDonald's Japan Slashes Guidance

We warned last week that the scandal over Chinese meat supplier OSI was spreading (and Asians were increasingly shunning western fast-food restaurants) and now, as The FT reports, McDonald’s Japan has pulled its full-year profit guidance on the back of falling sales. It had previously forecast sales of $2.45bn for the year to December but warned it could not commit to new targets as it was too soon to estimate the scandal’s full impact. McDonald's is hardly ready to cope with this as sales are slumping and Russia is banning certain products.



Tyler Durden's picture

"End Torture," Ron Paul Demands "Shut Down The CIA!"

Revelations of US secret torture sites overseas and a new Senate investigation revealing widespread horrific CIA torture practices should finally lead to the abolishment of this agency. Far from keeping us safer, CIA covert actions across the globe have led to destruction of countries and societies and unprecedented resentment toward the United States. For our own safety, end the CIA!



Tyler Durden's picture

Jim Grant: "Gold Is The Ultimate Inoculation Against Harebrained Central Bankers"

"The central bank imposed interest rates are the source of global financial instability now and in the future," warns Grant's Interest Rate Observer's Jim Grant, adding that "The Fed... has manipulated us into a period of quite eerie stability and measured volatility." Grant believes, given the values (and aware of the risks) that Russian "stocks stand to do very well," and also likes mining stocks as he warns credit markets are overvalued (especially sovereign debt). His conclusion, own gold as "it stands to benefit from the demonstrated, as opposed the theoretically likely, crack up of the [current] monetary arrangements."



Tyler Durden's picture

Boots On The Ground In Ukraine: "I Needed To See This For Myself"

...just as the assassination of Archduke Franz Ferdinand 100 years ago led politicians to make a series of pitiful, short-sighted decisions that led the world into the most destructive war it had ever seen, today's "leaders" are raising the stakes towards an even more destructive kind of war. This new kind of war is fought with bits and bonds rather than steel. But it's one that affects almost everyone on the planet. Change is very clearly afoot. And it's time to start paying very close attention to the canary in the coalmine.



Tyler Durden's picture

Yellen Capital Humiliated After First Facebook And Now Twitter Surge Higher: TWTR's Quarter In Charts

Moments ago TWTR reported Q2 earnings which beat EPS expectations of a 1 cent loss, posting non-GAAP EPS of $0.02 (let's ignore that the GAAP EPS was actually -$0.24 and that GAAP Net Loss was $144.6 million, much worse than the $42.2 million a year ago, all driven by stock-based compensation expense, because clearly retaining employees is never a factor when calculating earnings). And yet, the stock has exploded by 30% after hours on what appears to be a super squeeze after hours, as the company also reported revenue of $312 million up from $139.3 million a year ago and some $54MM in EBITDA, up 461% Y/Y. This is just a little awkward for the Federal Reserve which some 2 weeks ago was warning about a bubble in social networking stocks, just before first Facebook and now Twitter have exploded higher on what can best be described as yet another massive short squeeze of those who decided to not fight the Fed on this one.



Tyler Durden's picture

Tumble Tuesday: Stocks Slide On Sanctions Blowback Fears, Dollar Jumps

Equity markets were lifted on a sea of USDJPY stops this morning to open higher and press to the week's highs. Once 102.00 was achieved and Europe closed, headlines started to stall stock exuberance. The  initial downturn was when BES cancelled its shareholder meeting, the dip was bought, then Europe unveiled its sanctions started to take stocks down and then the US unleashed a further round of sanctions targeted at banks and that dragged stocks to the lows of the day. Trannies were worst down 4 days in a row. This move merely caught stocks down to bond's less-than-exuberant day. Treasuries rallied with yields dropping 2-3bps on the day. The USD surged to 6-month highs, ending up 0.2% from Friday. Credit markets continue to sell off notably. VIX closed back above 13 (highest in 2 weeks). The Russell is -1.65% YTD and 4.5% in July (on course for worse month in over 2 years). It appears sanctions fears trumped turbo Tuesday.



Tyler Durden's picture

The New York Times' Revenue Since Hiring Paul Krugman

Correlation or causation?



Tyler Durden's picture

China's Billionaire Ex-National Security Chief Investigated For "Serious Disciplinary Violation"

With an estimated net worth of $14 Billion, Zhou Yongkang, the man formerly in charge of China's vast security apparatus, was one of the nine most senior politicians in China until 2012. But now, as The BBC reports, state media have announced he is being investigated for "serious disciplinary violation", a term usually used to refer to corruption. The news ended months of speculation about his fate as numerous people in his sphere of influence are either under investigation or have been sentenced to death. This move confirms Xi Jinping's determination to root out corruption but could also be seen, given Zhou's influence, as an effort to eliminate a center of power in China's factional political system.



Tyler Durden's picture

President Obama To Explain How These New-New Sanctions Will Really Make Putin Mad - Live Feed

We are sure President Obama must be happy that the European leaders finally stepped in line behind him and layered new goldilocks sanctions on Russia. With business leaders on both sides of the Atlantic urging him not to, for fear of the dreaded 'boomerang' from Putin (which has already been targeted at MSFT, IBM, MCD, INTC, AMD, and car manufacturers), President Obama is set to explain how his new-new sanctions (which include several Russian banks including VTB, Russia's second largest ) and will be the message that Putin needs to leave, fold to NATO, handover everything, and retire to the Gulag. Yet, oddly enough, Gazprom is once again missing from the sanctions list. The whole market is sliding heading into his speech (including the Russian ETF). We await the retaliation.



Tyler Durden's picture

The One Rate That Is Not Only Not Going Down, But Is At A 13-Year High

With 77 million Americans having debt past due and the average household owing more than $15,000 in credit card debt, it appears the Fed's supposed plan to 'help Main Street' is not working so well. As the following chart from NewEdge's Brad Wishak shows, despite Fed Funds at practically zero, US credit card variable interest rates continue to rise - now at their highest since July 2001.



Tyler Durden's picture

Bonds & Peso Slide As Fernandez Slams Holdouts For "True Aggression Against Argentina"

With hours to go until Argentina's grace period runs out and default occurs, investors are less than frantically selling Argentine bonds and pesos. They are lower but do not appear in full panic mode as we presume investors cling to hope that Argentina folds and pays off the holdouts (though there has been no sign of that so far). ARG 2033 bonds are down 3 points to 81 and the black-market peso is modestly weaker at 13.0 (near its record lows). Argentine CDS tightened modestly (as BofA warns the facts surrounding Argentina’s bond payments continue to be unique and deciding if CDS are triggered could take longer than expected) but 1Y CDS are holding at 4600bps (equivalent) - a 52% probability of default. Paul singer continues to defend himself (and the holdouts) from claims they are "dangerous fundamentalists" hell-bent on making it impossible for foreign sovereigns to restructure their debts.



Do NOT follow this link or you will be banned from the site!