Love Him Or Hate Him: Trump Is The Revolution Against The Establishment

Whenever people are forced by the government to accept and pay for things they do not want, the outcome is discontent and opposition, typically suppressed and downplayed by the mainstream media in accordance with the state’s agenda of political correctness. Trump stands for everyone who is sick and tired of the current system and the political elite who have grown out of touch with ordinary American citizens... they are the American version of the European anti-establishment movement.

Bitcoin Soars As China Launches Crackdown On Wealth-Management Products

The most recent burst in bitcoin activity, which sent it surging by over $20 overnight, has little to do with any moves in the official Chinese currency, which recently rebounded modestly tracking the recent dip in the dollar, and is likely attributable to a long overdue crackdown on China's Wealth-management products, a key component of China’s "shadow banking" system.

Don't Diss The Dark Ages

Once dissed as The Dark Ages, the Medieval Era is more properly viewed as a successful adaptation to the challenges of the post-Western Roman Empire era.

Bank of England Asks UK Banks To Detail Their Exposure To Deutsche And Italian Banks

In what may or may not be a coincidence, just hours after Bloomberg reported that DB launched a probe into whether it "misstated" derivatives, moments ago the FT reported that the Bank of England is seeking details from large British banks on their current exposure to Deutsche Bank and some of the biggest Italian banks, including Monte dei Paschi, "amid mounting market jitters over the health of Europe’s financial sector."

Strong 5.4 Magnitude Quake Hits Central Italy, Rattles Rome

A strong, 5.4 magnitude earthquake hit a rural region in central Italy on Wednesday evening, and rattled Rome, just two months after a powerful temblor toppled villages in central Italy, killing nearly 300 people. According to AP, there were no immediate reports of damage. But the quake shook centuries-old palazzi in Rome's historic center.

Earnings 'Magic' Exposed

At best one can accuse Wall Street analysts and the companies that feed them information of incompetence. At worst this is another pure and simple case of institutions gaming the system through a fraud designed to prop up stock prices.

Lack Of Demand Greets Sale Of 5 Year Treasuries In Another Tailing Auction

The negative sentiment ahead of today's 5Y auction was spot on, and moments ago the Treasury announced that today's auction of 5Y paper indeed tailed, printing at 1.303%, tailling by 0.1bps. This was the highest yield since May of 2016 when the same paper priced at 1.395%. 

Is Britain Destroying Its Military To Appease Enemies?

Elements of the British establishment in Whitehall think their own soldiers are "bad," and terrorists are "freedom fighters," according to General Lord Richards, former Chief of the Defence Staff and the UK's most senior military officer. Over several years these ministers, permanent secretaries, generals, admirals and air marshals have been swept aside in pursuit of a corrosive drive to discredit our troops. It is the first time in history that any government has turned on its own armed forces in such a way.

The Boredom Before The Storm

With all the surprising and/or disturbing things going on – Brexit, China’s soaring debt, US/Russia/China saber rattling, the, um, unique US presidential race, the cyber attack that shut down big parts of the US Internet – you’d think that an unsettled world would be reflected in skittish financial markets. Instead we’re getting the opposite...

Deutsche Bank Probing "Misstated" Derivative Valuations After Finding "Divergences"

Deutsche Bank is probing whether it misstated the value of derivatives in its interest-rate trading business, and is sharing its findings with U.S. authorities. The reason for the probe is that, as has been a recurring case with many of its peers of the last few years, the bank found valuations that "diverged from internal models" at which point it began questioning traders.

Rajoy To Form Minority Government Thanks To Abstentions: Expect No Stability

Mariano Rajoy is headed for another term as Spanish prime minister following two inconclusive elections. However, should the socialists reorganize, Rajoy could easily find himself facing a vote of no confidence in a year or so. Rajoy is corrupt as they come. Ciudadanos had to hold its nose to enter this fragile minority coalition. There is nothing at all stable about this setup.