The List Grows ...
Many believed that the NOK was backed by oil, not requiring a gold reserve. However, oil is no longer a scarce resource but an abundant commodity. Switzerland, Germany, America and other first world nations have gold reserves. Norway should have one too.
The Muslim population of France reached 6.5 million in 2015, or around 10% of the overall population of 66 million. In real terms, France has the largest Muslim population in the European Union, just above Germany... "Those who denounce the illegal behavior of fundamentalists are more likely to be sued than the fundamentalists who behave illegally."
- Oil slips toward $30, traders bet on more falls (Reuters)
- Oil Plunge Sparks Bankruptcy Concerns (WSJ)
- RBS cries 'sell everything' as deflationary crisis nears (Telegraph)
- World stocks drop but Europe shrugs off oil slide, China money market surge (Reuters)
- Canadian Stocks Fall in Longest Slump Since 2002 as Oil Slides (BBG)
- "Murderous" Yuan Rate Jolts Hong Kong as Top Currency Hub (BBG)
Homicide rates in the United States have been declining for 20 years as the number of privately-held guns in the US has increased substantially. In some states, such as New Hampshire and Oregon, which have very weak gun laws, homicide rates are remarkably low, and these states are among the safest places on earth. As homicide rates have declined, however, and gun-related homicides with them, gun-control advocates have attempted to create a new category of "gun violence" by blaming suicides on access to guns.
It has come down to this: a year in which the US stock market (led by a handful of shares even as the vast majority of stocks has dropped) has gone nowhere, but took the longest and most volatile path to get there, is about to close either red or green for 2015 based on what happens in today's low-volume session following yesterday's unexpected last half hour of trading "air pocket" which brought the S&P back to unchanged for the year.
America is being destroyed by problems that are unaddressed. Unbridled greed, short-term in nature, will continue to drive America into the ground.
The movement toward deeper European integration appears to have halted, and gone into reverse, as the EU seems to be unraveling along ideological, national, tribal and historic lines. If these trends continue, and they seem to have accelerated in 2015, the idea of a United States of Europe dies, and with it the EU. And this raises a question about the most successful economic and political union in history - the USA.
- The World's Richest People Got Poorer This Year (BBG)
- Oil hovers near 11-year lows on abundant supply, slowing demand (Reuters)
- Oil-Producing States Battered as Tax-Gushing Wells Are Shut Down (BBG)
- A Bold Few Traders Earn Billions Flouting Rivals (WSJ)
- Islamic State ruling aims to settle who can have sex with female slaves (Reuters)
- Winter Storm Snarls Republican Presidential Traffic (BBG)
- Donald Trump Urges Supporters to the Polls (BBG)
Following an increase of $17.4 billion in September, foreign net sales of Treasuries hit an all time high of $55.2 billion, surpassing the previous record of $55.0 billion set in January. In absolute terms, October's total foreign holdings by major holders declined to $6,046.3 trillion the lowest since the summer of 2014.
Syria was a secondary topic on Putin's mind today when during a meeting with his defense chiefs, Putin gave the order "to strengthen Russia’s strategic nuclear forces amid rising tensions with the U.S. over the global balance of power."
Pierens had been expecting, after more than two decades of service, to be promoted from Deputy Head of Unit to Head of Unit. Instead, Pierens was demoted to Desk Officer. His assistant began to understand that Pierens had opened the window and started to climb on the ledge and started to scream, “no, Gauthier, don’t do it...”. A few moments later, Pierens jumped, ending his life.
Too Bad Our Government Isn't Serious About Stopping Terrorism ...
Mario Draghi is on deck Thursday morning and market expectations could scarcely be higher. In fact, Draghi is widely expected to execute the Keynesian trifecta, i) a rate cut, ii) expansion of QE, and iii) extension of QE duration. The ECB has indeed gained a reputation for over-delivering, but as SocGen puts it, "with high expectations comes a high risk of disappointment."