Archive - Jun 13, 2015
IMF Says It Will Continue Lending To Ukraine Even After A Default, And Why This Is Bad News For Greek Gold
Submitted by Tyler Durden on 06/13/2015 22:01 -0500As we enter Sunday and what may well be the last possibility to get deal done before the "accidental" Grexit scenario is put in play, we thought our Greek readers would be interested to learn that while Lagarde's "apolitical" IMF is digging in tooth and nail against giving Greece even the smallest amount of breathing room, the equivalent of half an our of a typical daily Fed POMO notional amount, yesterday the same Lagarde said that the IMF "could lend to Ukraine even if Ukraine determines it cannot service its debt."
The War On Cash: Officially Sanctioned Theft
Submitted by Tyler Durden on 06/13/2015 21:15 -0500While the benefits to banks and governments of banning physical cash are self-evident, there are downsides to the real economy and to household resilience. Why are governments suddenly acting as if cash money is a bad thing that must be severely limited or eliminated?
California Water Wars Escalate: Government Orders Massive Supply Cuts To Most Senior Rights Holders
Submitted by Tyler Durden on 06/13/2015 20:30 -0500Just two weeks after California's farmers - with the most senior water rights - offered to cut their own water use by 25% (in an attempt to front-run more draconian government-imposed measures), AP reports that the California government has - just as we predicted - ignored any efforts at self-preservation and ordered the largest cuts on record to farmers holding some of the state's strongest water rights. While frackers and big energy remain exempt from the restrictions, Caren Trgovcich, chief deputy director of the water board, explains, "we are now at the point where demand in our system is outstripping supply for even the most senior water rights holders."
The Fed And Most Economists Are Nothing More Than Glorified Weather Rock Analysts
Submitted by Tyler Durden on 06/13/2015 19:45 -0500The issue at hand is: far more people have discovered whether by chance or direct analysis of their own, both the Fed., as well as their gaggle of cohorts throughout academia, as well as in the financial media, are all watching and gaining their clues – from the same “rock.” Furthermore: It’s now self-evident to anyone willing to look. It’s not to see if the rock is wet, dry, or anything else. It’s to make the rock wet, dry, or anything else needed for the narrative. Because today; narrative trumps reality in today’s economic disciplines.
Artist's Impression Of US Cyber-Attack Protection
Submitted by Tyler Durden on 06/13/2015 19:00 -0500Presented with no comment...
The Warren Buffet Economy, Part 4: Why Its Days Are Numbered
Submitted by Tyler Durden on 06/13/2015 18:15 -0500After 27 years, honest price discovery has been destroyed, thereby reducing the nerve centers of capitalism - the money and capital markets - to little more than gambling casinos. Accordingly, speculative rent-seeking in the financial arena has replaced enterprenurial innovation and supply side investment and productivity as the modus operandi of the US economy. This has resulted in a severe diminution of main street growth and a massive redistribution of windfall wealth to the tiny share of households which own most of the financial assets. Warren Buffett’s $73 billion net worth is the poster boy for this untoward state of affairs. The massive and systematic falsification of asset prices which lies at the heart of this deformation of capitalism is a direct and unavoidable consequence of monetary central planning.
Two of the Most Economically Sensitive Commodities Suggest a Crash is Coming
Submitted by Phoenix Capital Research on 06/13/2015 17:44 -0500In short, the era the phony recovery narrative has come unhinged. We have no entered a cycle of actual price discovery in which financial assets fall to more accurate values. This will eventually result in a stock market crash, very likely within the next 12 months.
Saudi Warplanes Destroy 2,500 Year Old Heritage Site In Yemen
Submitted by Tyler Durden on 06/13/2015 17:30 -0500
The Index Of Evil: Who's The Bad Guy Now?
Submitted by Tyler Durden on 06/13/2015 16:45 -0500It’s easy to see evil in dead people. Stalin... Hitler... Pol Pot... people who tortured and killed just to feel good. The jaws of Hell must open especially wide to let them in. But who should go to the devil today?
Cyberwarfare Threat To Nuclear, Banking and Financial System
Submitted by GoldCore on 06/13/2015 15:30 -0500Our modern western financial and banking system with its massive dependency on single interface websites, servers and the internet faces serious risks that few analysts have yet to appreciate and evaluate.
Assailant Attacks Dallas Police Headquarters With Automatic Guns, Pipe Bombs
Submitted by Tyler Durden on 06/13/2015 15:20 -0500As many as four gunmen fired automatic weapons against the Dallas Police headquarters, and that at least at least two pipe bombs were found outside the police headquarters after the initial shooting. At least one attacker opened fire on Dallas' police headquarters early Saturday, riddling windows and police cars with bullets before fleeing in a van to a suburban restaurant parking lot, where officers surrounded the vehicle in a standoff that has lasted for hours, CNN reports.
The Fallacies Of GDP
Submitted by Tyler Durden on 06/13/2015 15:15 -0500The common error of confusing growth with progress goes largely unnoticed, though it permeates all macroeconomic analysis. There is no better example of this mistake than the fallacies behind the interpretation of Gross Domestic Product.
Why Goldman Is About To Become The Biggest HFT Firm In The World
Submitted by Tyler Durden on 06/13/2015 14:54 -0500- Algorithmic Trading
- Bond
- Credit Suisse
- dark pools
- Dark Pools
- Federal Reserve
- fixed
- goldman sachs
- Goldman Sachs
- Hank Paulson
- Hank Paulson
- HFT
- High Frequency Trading
- High Frequency Trading
- Lehman
- Lloyd Blankfein
- Michael Lewis
- Morgan Stanley
- None
- Prison Time
- Reality
- Sergey Aleynikov
- Sigma X
- Sigma X
- Treasury Department
And just like that, Goldman wins again.
If The Fed Put Its Interest Rate Where Its Mouth Is...
Submitted by Tyler Durden on 06/13/2015 14:30 -0500"but it's different this time..."
Texas Cops Raid, Shutdown Lemonade Stand Run By 7 Year Old Girls
Submitted by Tyler Durden on 06/13/2015 13:45 -0500Don’t mess with Texas. Particularly if you happen to be a person who enjoys the freedom to purchase lemonade from two adorable little girls trying to raise money to buy their dad a Father’s Day gift. In that case, you better watch out. The cops are on the case, ever vigilant to protect the unsuspecting citizen from the perils of contraband juice.




