Some Chinese Banks Run Out Of Physical Dollars As PBOC Holds Yuan Fix Flat For 4th Day
Submitted by Tyler Durden on 01/12/2016 - 20:19
Having apparently taken the day off from selling US Treasuries and buying Offshore Yuan (following yesterday's "murderous" short-squeeze"), completing a 40 handle round trip in the "stable" currency year-to-date, PBOC decided to hold Yuan flat for the 4th day but make a statement that they would "give policy support to exports" - in other words devalue more. The unintended consequence of their decision to withdraw liquidity and crush shorts in offshore Yuan is more problematic as it has reportedly left Chinese banks short of dollars at their ATMs (and are delaying withdrawals). Meanwhile, another of China's favorite outlets for capital outflows - Bitcoin - just got stomped.
How Corrupt Is The US: An Extraordinary Example
Submitted by Tyler Durden on 01/12/2016 - 19:30
For imprisonments, the US really does have no close second: it’s the unquestionable global market-leader, for prisons and prisoners. And this gets us to the market-leader for prisons within America itself, and to the stunning corruption that stands behind it. So, here’s that extraordinary example, and the story behind its corruption, which will provide a close-up view of America’s general corruption, from the top (including the government itself) on down.
The International War On Cash
Submitted by Tyler Durden on 01/12/2016 - 19:00
When we first wrote on the subject, there was considerable criticism as to the possibility that such a program would ever be attempted, let alone succeed. And, granted, it was so Orwellian that it was understandably seen as a crackpot idea. But since that time, the program has been developing extremely rapidly. In the last six months alone, it has become so visible that it has even garnered a name - "the War on Cash." Once complete, state wealth control will exist.
Former UK Cop Says Jihadists Are Hiding In Refugee "Jungle" Camp
Submitted by Tyler Durden on 01/12/2016 - 18:35
"If I were a returning jihadi, I would smuggle myself in amongst this group; you would easily get lost." "That's the most ridiculous thing I have ever heard".
Sorry Warren Buffett: Things Just Went From Bad To Worse For U.S. Railroads
Submitted by Tyler Durden on 01/12/2016 - 18:21
Tank cars, once feverishly ordered during the US shale boom, are sitting on sidings. Lessors are obtaining car rents 20-30 per cent below early 2015 — “if you’re lucky enough to keep your car in service”, said James Husband of RailSolutions, a consultancy.
Iran Seizes 2 US Navy Boats, Crewmen For "Illegally Entering Iranian Waters"
Submitted by Tyler Durden on 01/12/2016 - 18:10
What Bernie And The Donald Portend
Submitted by Tyler Durden on 01/12/2016 - 17:45
Three weeks out from the Iowa caucuses, and clarity emerges. Hillary Clinton, the likely Democratic nominee, is in trouble. But if a cloud is forming over the Clinton campaign, the sun continues to shine on The Donald. What does the surge for socialist Sanders and the Republican base’s backing of the outsiders Trump and Cruz and collective recoil from the Republican establishment candidates tell us? As Dylan sang, "The times they are a changing."
Meanwhile In Chicago, 120 People Shot In First 10 Days Of 2016
Submitted by Tyler Durden on 01/12/2016 - 17:37
Even as Obama takes his anti-gun crusade to new highs with every passing week, having recently started dispensing executive orders, the president conveniently continues to ignore the state of affairs in his native Chicago - a city in which guns are banned - yet where the shooting epidemic has never been worse, and is truly emblematic of the "gun problem" that America has. And judging by the most recent developments, Obama will have nothing to say about this topic any time soon...
Here's Why Automaker Stocks Are Falling (Despite The Media's Exuberance)
Submitted by Tyler Durden on 01/12/2016 - 17:20
How can it be that automaker stock prices are tumbling given that auto sales (if one listens to CNBC) are surging, that (if one listens to the CEOs) everything is awesome for automakers, and (if one listens to Phil LeBeau) there is no bubble in auto credit? The answer is simple... (you just don't want to admit it)
93% Of American Counties Haven't Recovered From The Recession
Submitted by Tyler Durden on 01/12/2016 - 16:55
"Overall, the county economies recovered on all four indicators by 2015 still represent only 7 percent of all county economies. In contrast, almost 16 percent of county economies had not recovered on any indicator by 2015."
WTI Slides After API Reports Massive Build In Gasoline & Distillate Inventories
Submitted by Tyler Durden on 01/12/2016 - 16:37
With the seasonally drawdown-prone December completed, we begin seasonally build-prone January with expectations for a 2mm barrel build. However, according to API, both total and Cushing inventory levels tumbled (-3.9mm and 300k respectively). Great news - so why is crude tumbling? Simple - massive builds in end-products again with Gasoline up a massive 7mm barrels and Distillates up 3.6mm barrels. Having ramped off sub-$30 levels aftwr NYMEX closed, and lifted by the Iran-US news, WTI is sliding back rapidly.
You Know Negative Interest Rates Are Bad When...
Submitted by Tyler Durden on 01/12/2016 - 16:30
...the Swiss canton of Zug is asking its citizens to delay paying their taxes for as long as possible, because the cantonal government doesn’t want to take in a pile of cash, only to end up paying the bank interest on all the tax revenue.
Last-Hour Buying-Panic Saves Nasdaq From Longest Losing Streak In 31 Years
Submitted by Tyler Durden on 01/12/2016 - 16:03
Meet "Beware" - The New Police Tool That Data-Mines Your Life
Submitted by Tyler Durden on 01/12/2016 - 15:50
When it comes to life on planet earth in 2016, it increasingly feels as if we are all livestock constantly being monitored, prodded and surveyed by the oligarchy and its minions. The latest example revolves around a software program for police called Beware, developed by Intrado, which consists of a secret algorithm that determines an individual’s threat levels based on a multitude of unknown factors.
Why Does America Need Guns?
Submitted by Tyler Durden on 01/12/2016 - 15:35
Welcome to the "do as I say, not as I do" democracy...
