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The Petrodollar Is Under Attack: Here's What You Need To Know

"The evidence continues to show that the USDollar is slowly being eroded... and that as these adversarial countries make these developments in unison, there appears to be little the US can do without risking an all-out world war..."

The 4 Ways To Access Money For "Harvey" Repairs

The effects of Hurricane Harvey are going to linger for years, likely decades. According to the Consumer Federation of America, approximately 80% of those affected by flood damage do not carry flood insurance protection. If you have suffered damage and do not carry flood insurance or seek proceeds in addition to coverage, here are four options to consider.

Frontrunning: August 21

  • Trump to present vision for U.S. strategy in Afghanistan war (Reuters)
  • Trump Struggles to Move Past Bannon, Starting With Afghanistan (BBG)
  • Final Plans Under Way as Solar Eclipse Nears (WSJ)
  • Yellen, Draghi Head to Jackson Hole Amid Inflation Unease (BBG)
  • Cohn Solidifies Lead in Race to Replace Yellen, Economists Say (BBG)

Our Financial Buffers Are Thinning

If we survey the financial landscape for fully intact buffers, we find none. Every buffer has been thinned by the past eight years of extreme monetary and fiscal policies and financial leverage, that is, debt piles ever higher on an unchanged foundation of collateral.

Frontrunning: June 21

  • Republican Handel Wins Georgia House Seat, Dashing Democrats’ Hopes (BBG)
  • Uber CEO Kalanick Quits as Investors Revolt (WSJ)
  • Saudi King’s Surprise Shakeup Clears Son’s Path to the Throne (BBG)
  • After weeks of secrecy, U.S. Senate to unveil healthcare bill (Reuters)
  • Latest Election-Hacking Hearings to Focus on State-Level Events (WSJ)

"Canada Hasn't Seen A Bank Run Such As This In Decades" - Finance Minister Says Home Capital Bailout Is Possible

"In the early hours of Monday, May 1, exhausted representatives for Home Capital and a group of lenders hung up the phone in frustration. A deal to give the company an emergency $2-billion loan appeared to be falling apart. Directors at the mortgage firm felt that without the money, they wouldn’t be able to open for business a few hours later. The dramatic story of a financial institution’s near-collapse."

Home Capital Bank Run Accelerates As Company Scrambles To Find Additional Liquidity

Canada most troulbed non-bank lender Home Capital confirmed that the bank run at subsidiary Home Trust has failed to slowdown, and as of May 8 "deposit balances are expected to be approximately $192 million." According to the latest data, another 50% of deposits have been pulled in the past week, and are now down over 90% since March 28.

Home Capital Uses Up $1 Billion "Lifeline", Seeks Additional Funding

Home Capital Group is "actively seeking expanded sources of funding" as it has drawn half of its C$2b rescue loan. “This is a fluid situation, and we are optimistic our challenges are temporary,” said Pino Decina, executive vice president of residential mortgage lending.