Archive - Feb 19, 2015
Oligarch Rules: Jeb Bush Surrounds Himself With Architects Of His Brother's Iraq War
Submitted by Tyler Durden on 02/19/2015 22:40 -0500It may be hard to believe, but either one of the two status quo choices for U.S. President currently being force-fed down the American public’s throat will be almost unquestionably more imperial and warlike than Barack Obama. The reason is simple. Any society that apathetically stands by as one President after the other tramples on the Constitution will be subject to a litany of increasingly tyrannical, and even insane, leaders. If you still had any doubt, today we learn that Jeb Bush is actively surrounding himself with the exact same people who under the George W. Bush administration, masterminded the terrible tragedy known as the Iraq war.
The Global Death Cross Just Got "Deathier"
Submitted by Tyler Durden on 02/19/2015 22:30 -0500"X" continues to mark the spot of the death of global investor rationality...
Peak "Grexit"?
Submitted by Tyler Durden on 02/19/2015 22:20 -0500Goldman recently warned that they are "more worried than we have been since the start of the Euro area crisis," and judging by the extraordinary surge in "Grexit" headlines, it appears this time is different from 2012...
Guest Post: Bitcoin - The Effete Act Of Rebellion
Submitted by Tyler Durden on 02/19/2015 22:00 -0500"Using Bitcoin is an effete act of rebellion, a weak signifier of resistance like wearing a hoodie or getting a tattoo that’s well covered by your work clothes. Bitcoin is fashion, more than a fad but less than lasting." Strong words. Let’s dig in.
Goldman's Best Single Idea For Hedging "Grexit" Risk
Submitted by Tyler Durden on 02/19/2015 21:30 -0500With reports of near mutiny in Syriza's ranks amid the back-bending they have done to try to meet Germany's demands - only to be abjectly denied by a non-ultimatum-setting Schaeuble - it is perhaps time to prepare (ahead of tomorrow's apparent "G" day) for the possibility that Greece creates a systemic event. As Goldman recently warned, there are aspects that leave us more worried than we have been since the start of the Euro area crisis with a tight schedule to avert a disorderly outcome. Risk markets so far have traded in a resilient (well managed) manner but risks of an accident remain and here is how Goldman suggests you hedge that exposure.
Greek Deposit Run Accelerates Ahead Of Monday's Bank Holiday
Submitted by Tyler Durden on 02/19/2015 21:20 -0500Official Greek deposit data began tumbling in December (outflows around EUR3bn), and accelerated in January in the run up to the Syriza election (proxied by JPMorgan at over EUR 12bn). During the last two weeks, however, the absence of ATM lines and visible bank runs has been curiously lacking as, at least on the surface, there appears to be no panic. However, as Dody Tsiantar reports, sources in the Greek banking sector have told Greek newspapers that as much as EUR 25bn euros have left Greek banks since the end of December with outflows surging this week. Perhaps they are getting anxious that authorities will take Cypriot advantage of the Bank Holiday that is planned in Greece on Monday.
Stunning Images Of The "Siberian Express" FreezeNado
Submitted by Tyler Durden on 02/19/2015 21:15 -0500Guardian Slams Telegraph Suggesting HSBC Coverage Was Biased Due To Owners' £250 MM Loan From Bank
Submitted by Tyler Durden on 02/19/2015 21:01 -0500The past 48 hours have become a free-for-all flame war involving the titans of British media, including the BBC, the Guardian, the Times and, the paper that started it all, the Telegraph. Several hours ago, the first (of meny) skeletons in the closet busted loose and is suddenly threatening to expose some of the dirtiest laundry of UK high society.
"We're Gonna Need A 4th Arrow" Japanese Manufacturing PMI Misses, Slips To 7 Month Lows
Submitted by Tyler Durden on 02/19/2015 20:56 -0500It would appear that monetizing more than 100% of your debt and constant daily reassurances that everything is awesome are not enough to create real world economic growth. Japanese manufacturing PMI slipped to 51.5 in February (missing expectations of 52.2), its lowest since July 2014 as New Orders & Employment slowed. Perhaps most worrying for the deflation-death match Abe is wagering, Output prices tumbled. Japanese stocks don't care of course, having entirely decoupled from JPY when The BoJ scared the FX carry markets with its 'hawkish' bias and 5-4 vote.
De-Dollarization Accelerates: Russia Launches SWIFT-Alternative Linking 91 Entities
Submitted by Tyler Durden on 02/19/2015 20:55 -0500Three months ahead of schedule, Russia announces the launch of its own 'SWIFT'-alternative, linking 91 credit institutions initially, suggests de-dollarization is considerably further along than many expected (especially as Russia dumps US Treasuries at a record pace).
“Too Big To Fails” Have Stopped Being Banks
Submitted by George Washington on 02/19/2015 20:45 -0500...
No Longer Focused On Deposits Or Loans?!
Today's Financial Thermopylae Beckons - But Don't Count On The Greeks
Submitted by Tyler Durden on 02/19/2015 20:30 -0500The global financial system desperately needs a big, bloody sovereign default - a profoundly disruptive financial event capable of shattering the current rotten regime of bank bailouts and central bank financial repression. Needless to say, Greece is just the ticket: A default on its crushing debt and exit from the Euro would stick a fork in it like no other. But don’t count on the Greeks.
Caught On Tape: Caracas Mayor, Who Live-Tweets His Arrest, Detained In His Office By Maduro Police
Submitted by Tyler Durden on 02/19/2015 19:57 -0500Three hours ago, when the NY Fed trading desk was patting itself on the back for another day without hitches or major glitches in the "market" (except for that HFT-snafu in the USDCAD of course), one person was live-tweeting his arrest. The person is Antonio Ledezma, who is not only the mayor of Caracas but the leader of Venezuela's, and around 5:20 pm local time, he was taken to the intelligence service’s headquarters in Caracas after the local police broke into his office and arrested him. The moment of the arrest was captured on video.
This WILL Happen!
Submitted by Capitalist Exploits on 02/19/2015 19:40 -0500Everything has to come to an end, sometime...
Meet The Bureaucrat Who Had The Courage To Tell The Truth (& Will Be Jobless Tomorrow)
Submitted by Tyler Durden on 02/19/2015 19:30 -0500Meet Guan Tao. He oversees the foreign exchange of China’s $4 trillion stockpile of reserves (so he has an incredibly unique view of capital flows and currency movements in and out of the country), and he just admitted that capital flight from China is accelerating suggesting that outflows could be considerably higher than official channels show.





