Phoenix Capital Research's picture

How and Why Banks Will Seize Deposits During the Next Crisis

The US has now joined Canada, Cyprus, New Zealand, the UK, and Germany with plans to seize bank accounts during the next financial crisis. 

Tyler Durden's picture

How The Chinese Will Establish A New Financial Order

For many years now, it’s been clear that China would soon be pull­ing the strings in the U.S. financial system. In 2015, the American people owe the Chinese government nearly $1.5 trillion. Of course, the Chinese aren’t stupid. They realize we are both trapped.China has recently put into place a covert plan to get back as much of its money as possible - by extracting colossal sums from both the United States government and ordinary citizens, like you and me.

Tyler Durden's picture

Nomi Prins: How Trump Became Trump And What That Means For The Rest Of Us

Unfortunately, we are used to politicians saying whatever they think they need to say to be elected president, and falling way short of their campaign promises on the job. Even scarier would be the notion of selling America to the craftiest bidder. The election may be more than a year away, but isn’t it time to dig beneath the carefully crafted persona that is Trump and unearth the person and the full spectrum of his business dealings? To see the real Donald Trump is to plunge into all the conflicts of interest he denies, the financial tricks he dispenses, the crucial details he obfuscates, and the flimflam he offers up day in, day out.

Tyler Durden's picture

Portugal's Ruling Coalition Prevails As Country Votes In What Amounts To Austerity Referendum

The results from Portugal's elections are beginning to trickle in and according to exit polls, Coelho's coalition has prevailed. According to Bloomberg, the ruling coalition of Prime Minister Pedro Passos Coelho has won 38%-43% of vote and 108-116 seats.

Tyler Durden's picture

World's Largest Shipowners To Abandon Greece Ahead Of Major Tax Hike

Once again the reactions of desperate government policies looks like creating an even worse situation thanks to unintended (though entirely foreseeable) consequences. Amid the prospect of sharply higher shipping taxes in Greece - designed to increase revenues and 'fix' the debt-ridden nation, WSJ reports many of Greece’s world-leading shipowners are actively exploring options to leave their home country. With Greece controlling 20% of the world's shipping fleet, the 'quadriga' of Greek creditors' demands to raise taxes (because debt restructuring is out of the question) on such an 'easy target' as the world's largest shipping industry appears likely to backfire as an entire industry's revenues move out of reach of government taxers.

Tyler Durden's picture

The Reality Behind The Numbers In China's Boom-Bust Economy

The US Federal Reserve orchestrated an artificial boom from 2001 to 2007 through artificially low interest rates and has resumed doing so once again. Entrepreneurs operating under faulty market signals created by the Federal Reserve malinvested hundreds of billions of dollars into capital intensive projects primarily in the housing sector. We paid for our boom with millions of destroyed jobs, wasted labor, and wasted resources. The Chinese Central Bank learned nothing from the Fed’s catastrophic experiment. They will reap the same rewards.

Tyler Durden's picture

"There Are Five Times More Claims On Dollars As Dollars In Existence" - Why This Matters

According to the Fed, there is about $60 trillion of US Dollar credit or claims for US dollars. Also according to the Fed, there are about $12 trillion US dollars.  So, the data show plainly there are five times as many claims for US dollars as US dollars in existence. Does this matter to investors? Well, yes, it matters a lot.

Tyler Durden's picture

Asian Equities Tumble On Commodity Fears; US Futures Rebound After India "Unexpectedly" Eases More Than Expected

It was a tale of two markets overnight: Asia first - where all commodity hell broke loose - and then Europe (and the US), where central banks did everything they could to stabilize the already terrible sentiment.

Tyler Durden's picture

Jim Grant Explains How To Hedge Against The Coming Money Paradrop

"This is a monetary moment... we are looking at the beginning of the world’s reappraisal of the words and deeds of central bankers like Janet Yellen and Mario Draghi. You see monetary disorder manifested in super low interest rates, in the mispricing of credit broadly and you see it in the escalation of radical monetary nastrums that are floating out of the various central banks and established temples of thought: Negative real rates, negative nominal rates and the idea of helicopter money. So you need some hedge against things not going according to the script and that makes gold and gold mining equities terrifically interesting now."

Tyler Durden's picture

China's "Credit Mystery" Deepens, As Moody's Warns On Shadow Financing

Are some Chinese banks ramping up their exposure to shadow conduits on the way to obscuring massive amounts of credit risk? Moody's says yes...

Tyler Durden's picture

The Table Is Set For The Next Financial Crisis

Some people will never learn... ever. What is happening today is nothing more than rearranging the deck chairs on the Titanic. The iceberg has been struck, we’re taking on water, and this sucker is going to sink. Game Over.

Tyler Durden's picture

US Senator Demands Ukraine "Walk Away" From Debt Payments To Russia

Oh, the irony. A senator of the world's largest creditor nation has demanded America's allies do 'whatever it takes' to support Ukraine in breaking international law by refusing to pay back $3bn of debt owed to Russia in December. As RT reports, US Senator Chris Murphy of the Foreign Relations Committee exclaimed, "the international community should make it clear that we should take whatever steps necessary to give Ukraine the legal cover it needs to walk away from that debt... I don’t think Ukraine should be obligated to pay Russia back a dime." One can only wonder how US's creditors will feel about this perspective (maybe China and EM are already showing theirs).

Tyler Durden's picture

Budget Deficit Explodes Higher In Portugal After Government Throws In Towel On Bad Bank Sale

Newly-upgraded Portugal unleashed a budget bombsell on Wednesday when it revised its 2014 deficit higher by some 60% after a failure to liquidate the predecessor to bailed out Banco Espirito Santo left taxpayers holding a €5 billion bag. 

Tyler Durden's picture

US Equity Futures Hit Overnight Highs On Renewed Hope Of More BOJ QE

After sliding early in Sunday pre-market trade, overnight US equity futures managed to rebound on the now traditional low-volume levitation from a low of 1938 to just over 1950 at last check, ignoring the biggest single-name blowup story this morning which is the 23% collapse in Volkswagen shares, and instead have piggybacked on what we said was the last Hail Mary for the market: the hope of more QE from either the ECB or the BOJ. Tonight, it was the latter and while Japan's market are closed until Thursday for public holidays, its currency which is the world's preferred carry trade and the primary driver alongside VIX manipulation of the S&P500, has jumped from a low of just over 119 on Friday morning to a high of 120.4, pushing the entire US stock market with it.

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