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    11/26/2014 - 09:14
    Is the oil cartel impotent?  Is the price of oil going to fall further?  What to expected from tomorrow's OPEC meeting.

Financial Services Authority

GoldCore's picture

UK Bank RBS Has '£100 Billion Black Hole' & In 'Danger Of Failing' - Bail-Ins Cometh





Bail-ins or deposit confiscation can now be used in the UK, EU, U.S. and G20 countries. Investors and savers best get prepared for the coming bail-in era. After Cyprus, which country will be the next to suffer bail-ins?

 
GoldCore's picture

UK Housing Boom Could Turn To Bust … Again





Britain's former chairman of the  Financial Services Authority (FSA), Lord Adair Turner, warned that the UK could be repeating the 2008 financial crisis by fueling the property market ... When money is debased by monetary authorities on an industrial scale, the results can be catastrophic ...

 
Tyler Durden's picture

Scandal: Bank Of England Encouraged Currency Manipulation By Banks





Raise your hands if you are surprised that, as has emerged, virtually every major bank was manipulating currencies (and everything else) whether as part of the "Bandits' Club", the "Cartel" or some other - until recently- secret message room. That's what we thought. Now raise your hand if you thought the manipulation could be so pervasive, so glaring and so in your face, that even the oldest central bank - the Bank of England - and who knows how many other monetary authorities, were openly encouraging traders from these private banks to do more of the illegal activity they had been engaging in - namely manipulating currencies - with their explicit blessing knowing very well such behavior is undisputedly illegal. We hope at least one or two hands went up, because which it is one thing to be cynical about what is going on behind the scenes, it is something else to see the edifice of global corruption and criminality, whose only purpose was to preserve the status quo, unwinding before your very eyes substantiated by actual facts.

 
Reggie Middleton's picture

My SEC Warning Regarding RBS Prescient As Biggest Loss Since Crisis on Mortgages Provision





I predicted this clearly, with loads of evidence, last spring. I even tipped the SEC/UK authorities. Tthe chickens come home to roost. Let it be known, Wall Street's margin IS my business model!!!

 
Tyler Durden's picture

Frontrunning: December 27





  • Millions of Tons of Metals Stashed in Shadow Warehouses (WSJ)
  • Moguls Rent South Dakota Addresses to Dodge Taxes Forever  (BBG)
  • Fastest Japan Inflation Since ’08 Stokes Wage Pressure (BBG)
  • Thai crisis deepens as army chief hints at intervention (Reuters)
  • Anti-Assad Lebanese ex-minister killed in Beirut bomb (Reuters)
  • Foreigners Unload Turkey Bonds as Probe Tarnishes Erdogan Growth  (BBG)
  • Small ISS Change Shakes Up Boards: Tweak to Influential Shareholder Adviser's Recommendations Has Directors Rethinking Proposals (WSJ)
  • Japan’s Nishimura Calls for Quick Corporate Tax Cut to Under 30% (BBG)
  • Japan's Abe bets U.S. alliance, ratings can weather shrine visit (Reuters)
 
Tyler Durden's picture

October FOMC Week Starts With Traditional Overnight Meltup





Just as it is easy being a weatherman in San Diego ("the weather will be... nice. Back to you"), so the same inductive analysis can be applied to another week of stocks in Bernanke's centrally planned market: "stocks will be... up." Sure enough, as we enter October's last week where the key events will be the conclusion of the S&P earnings season and the October FOMC announcement (not much prop bets on a surprise tapering announcement this time), overnight futures have experienced the latest off the gates, JPY momentum ignition driven melt up.

 
Pivotfarm's picture

UK Millionaires Will Become Poor!





A report just out by Coutts (the private wealth-management bank) has pointed the wagging finger at British rich and famous, the millionaire’s club for not protecting their wealth enough.

 
Reggie Middleton's picture

Free Advice Is Sometimes Worth More Than You Paid for It. On That Note, Irishman... Take Your Money And Run!!!





Don't consider this investment advice, but if you leave your money in this bank after reading this article then your a fool who deserves to lose every euro that gets confiscated. Just my personal opinion, of course.

 
Pivotfarm's picture

The Men That Broke Banks - Rogue Traders





An unprincipled, deceitful, unreliable scoundrel. A vicious and solitary animal. An organism that shows a variation from the standard. What are we talking about? Rogue Traders! Does the cap fit?

 
Reggie Middleton's picture

Angela Merkel Should Talk To Me If She's Truly Enraged By The Anglo Irish Revelation, For That's Just The Beginning!





Tell Angela Merkel that the guy that warned of Bear Stearns, Lehman Brothers AND Anglo Irish of which she laments, is also warning of Anglo Irish Bank among other Irish institutions - all funded by Germans through Irish austerity!

 
Tyler Durden's picture

The Plight Of Europe's Banking Sector, Its €650 Billion State Guarantee, And The "Urgent Need" To Recapitalize





Since the topic of quantifying how big the sovereign assistance to assorted banks - both in Europe and the US (which Bloomberg calculated at $83 billion per year) - has become a daily talking point, we are happy to read that Harald Benink and Harry Huizinga have reached the same conclusion as us in their VOX analysis, and further have shown that in Europe the implicit banking sector guarantee by the state is a whopping €650 billion. "Europe has postponed the recapitalisation of its banking sector for far too long. And, without such a recapitalisation, the danger is that economic stagnation will continue for a long period, thereby putting Europe on a course towards Japanese-style inertia and the proliferation of zombie banks... Banks are already saddled with ample unrecognised losses on their assets, estimated by many observers to be at least several hundreds of billions of euros and mirrored by low share price valuations, and an additional loss of their present funding advantage will be crippling."

 
Reggie Middleton's picture

Who is RBS? Royal BS... or the Royal Bank of Scotland





If Cyrpus blew up with bank assets/GDP leverage of 700% & Iceland blew up with leverage of 880%, what should we expect from Scotland @ 1,250%? Of course, this leverage number likely excludes those top secret charges I found last month...

 

 
Tyler Durden's picture

Free Vegas Trips, Cocaine And Hookers: A Peek At Real Banker Life





Think frontrunning clients, trading against recommendations, manipulating LIBOR, and slamming gold at the London fixing is all investment bankers do? Wrong. What really happens in banker life is far more exciting and enjoyable (at least for preferred banker clients) as the following story by the WSJ's David Enrich shows. In reality, the activities that bankers seem to spend the most time on, is treating their "preferred clients" with free gambling trips to Las Vegas, skiing in Chamonix, flying wives and girlfriends in helicopters, doing blow in industrial amounts, and, of course, cavorting with strippers and hookers. All paid for by some unwitting clients of course. It is this environment of utter and perfectly permitted, if not encouraged, debauchery that allowed scandals such as the Libor fixing "conspiracy" (first theory, then fact of course), to flourish, and which makes being a banker still the most desired job in the world (contrary to beliefs that it was all about the passion of crunching goalseeked DCFs at 2 am in the morning).

 
Reggie Middleton's picture

The Beginning Of The Great Irish Unwind?!?!?!





Central Bank governor now admits Irish banks need more capital. As the truth seeps slowly into the mainstream media, who do you believe - Reggie or the Central Bank of Ireland?

 
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