February 11th, 2016
After an Absolutely PERFECTLY Timed Warning on the Financial Sector in October, This Is What Lies Ahead for the Banking SectorSubmitted by Reggie Middleton on 02/11/2016 12:23 -0500
Banks drops, excuses pop, now the real fun will come non-stop!
This is the best quarterly performance for Gold in 30 years... "It’s been crazy – it’s been the best week since 2012. We’ve had people queuing round the block..."
NIRP is coming to the US. This is just the start of a much larger strategy of declaring War on Cash.
Speculators are now "making the leap to Cushing storage never being more full... will actually overfill, or even stop taking crude oil deliveries outright..."
The stock markets of the so-called PIIGS are breaking down on an absolute and relative basis – not a positive development for global markets.
“Given the current environment in the oil and gas market and the poor outlook for future fundamentals in the short to medium term, BNP Paribas has had to make adjustments to some of its businesses and has decided to stop the redevelopment of its reserve-based lending business."
While broad-based contagion from Deustche Bank's disintegration is clear in European, US, and Asian bank risk, there is another major financial institution whose counterparty risk concerns just went vertical...
Gold prices are breaking above triple resistance forming a technical bottom and channel breakout. This projects gold higher to 1,315 and 1,375. The gap in the distribution on the left shows 1,550 is a possibility,
Gold has surged over 3% today on increased safe haven demand as stocks and in particular bank stocks see sharp falls again.
Because so much is riding on what so few decide,once the faith in the Central Banks fail, the chances of us getting out of this diminish every second...
Just when you thought The BoJ would save the day with its miraculous intervention in carry trades, this happens:
*BOEING SAID TO FACE SEC PROBE OF DREAMLINER AND 747 ACCOUNTING
And just like that, Boeing's stocks crashes 10% dragging the major US equity markets with it. So, just as a reminder, this is a firm which the US government (via Ex-Im Bank) lends billions of US taxpayer dollars... and now the SEC is accusing them of fraud.
As Saudi Arabia readies a Syrian ground invasion, there are competing accounts of just who destroyed 9 targets in Aleppo on Wednesday. While The Pentagon says Moscow hit the city's two main hospitals, The Kremlin claims two US Air Force A-10 attack planes carried out the strikes which raises the following question: is the US set to conduct airstrikes in support of the rebels, thus marking a fresh and exceptionally dangerous escalation of hostilities in the country?
In a replay of yesterday's idiotic opening action, WTI crude spiked on Saudi troops headlines - running stops to yesterday's close - only to dump back below $27 once again...
Following remarks that are identical to those from yesterday, today Yellen will conclude her semi-annual testimony, this time by presenting her vision about the economy and the path of future rate hikes to the Senate Banking Committee. Surprises, if any, will come during the Q&A.