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Tyler Durden's picture

Deutsche Bank Offices Raided By Authorities





Just two days after Deutsche Bank co-CEOs Anshu Jain and Jürgen Fitschen announced their resignations, the banks offices in Germany, France, and the UK have been searched by authorities.

 
Tyler Durden's picture

Germany Enters Correction; EMs In Longest Losing Streak Since 1990 Routed By Turkey, Obama Turmoils Dollar





While there were key macroeconomic data out of Asia earlier in the session, with Japan revising its Q1 GDP up from 2.4% to 3.9% (due to an upward revision to capex) making some wonder if it simply didn't snow in Japan this winter, as well as Chinese trade data that was once again disappointing with the third consecutive drop in exports coupled with an 18.1% collapse in imports hinting that nothing is going well in China's economy (which once again sent stocks soaring this time up another 2.2% on certainty another PBOC rate cut is imminent, pushing the PBOC to a fresh 7-year high of 5,132), it was actually a leaked Obama comment on the strong USD that moved markets.

 
Tyler Durden's picture

FIFA Confirms Russia Will Be Stripped Of 2018 World Cup If "Evidence Of Bribery" Emerges





Today, the last missing piece finally fell into place, after Domenico Scala, the independent chairman of FIFA's audit and compliance committee, told a Swiss newspaper that Russia and Qatar could be stripped of their World Cup hosting rights if evidence emerges of bribery in the bidding process. "If evidence should emerge that the awards to Qatar and Russia only came about thanks to bought votes, then the awards could be invalidated," Scala told SonntagsZeitung in an interview published on Sunday. "This evidence has not yet been brought forth."  It shortly will be.

 
Phoenix Capital Research's picture

The European "Template" For Dealing With Crises: Freezing Accounts, Bank Holidays, and Capital Controls…





More and more analysts are beginning to take note of the “War on Cash.” However, they’re missing the fact that the actual template for what’s coming to the US first appeared in Europe back in 2012.

 
Tyler Durden's picture

Folksy Obama Arrives In Germany: "Slugs" Sausage, Beer And Pretzels, Goes Lederhosen Shopping





Earlier today, Barack Obama, together with 6 of the world's most powerful leaders (but certainly not Vladimir Putin) congregated in the Bavarian town of Krun where they will for the next two days hunker down at the luxurious Scholss Elmau for the latest G-7 meeting, covering an agenda dealing with climate change, global extremism, and of course, solving the Ukraine crisis (with or without instructions from George Soros on how to proceed). Serious stuff. Obama, however, decided to keep it "folksy" and the lame duck president, content with the direction the world is going, pulled a page right out of National Lampoons European vacation and kicked it back.

 
Tyler Durden's picture

A Hopeful Edward Snowden Says "The Balance Of Power Is Beginning To Shift"





"The balance of power is beginning to shift. We are witnessing the emergence of a post-terror generation, one that rejects a worldview defined by a singular tragedy. For the first time since the attacks of Sept. 11, 2001, we see the outline of a politics that turns away from reaction and fear in favor of resilience and reason. With each court victory, with every change in the law, we demonstrate facts are more convincing than fear. As a society, we rediscover that the value of a right is not in what it hides, but in what it protects."

 
Tyler Durden's picture

Philippine President Compares China To Nazi Germany; Beijing Tells Him To "Repent"





“I’m an amateur student of history and I’m reminded of ... how Germany was testing the waters and what the response was by various other European powers.” - Philippine President Benigno Aquino

"I once more seriously warn certain people in the Philippines to cast aside their illusions and repent." - Chinese foreign ministry spokeswoman Hua Chunying

 
Tyler Durden's picture

The Danes Are Revolting: Tax Administration Set On Fire





In Fredensborg, Denmark, ten official cars from the Tax Administration Office were set on fire and destroyed overnight in a protest. As ExstraBladet reports, police received notification Wednesday night at 3:09 a.m. that the Tax Administration offices on Kratvej were on fire. So far, there are no suspects. But, as Martin Armstrong notes, the police will undoubtedly hunt for someone retaliating against the Tax Man. As the world economy turns down and governments become far more aggressive to grab money from everyone, we should see a sharp rise in these types of incidents.

 
Pivotfarm's picture

Top 10 Military Spenders





A man of distinction in today’s world is a man that throws his money in military monkey business, the shenanigans that our wealthiest nations excel at.

 
GoldCore's picture

Bail-Ins Coming - EU Gives Countries Two Months To Adopt Rules





The European Commission has ordered 11 EU countries to enact the Bank Recovery and Resolution Directive (BRRD) within two months or be hauled before the EU Court of Justice, according to a report from Reuters on Friday.

 
Tyler Durden's picture

As Hope Lifts Athens Stocks, German Vice Chancelleor Warns Of "Gigantic Consequences" If Greek Talks Fail





Despite all the reassurances by various leaders that any Grexit or Greek bankruptcy would be 'contained', Sigmar Gabriel - vice-chancellor and economic minister of Germany's SPD party - unleashed some uncomfortable truthiness yesterday. With Greek stocks up almost 5% today as hope springs eternal, Gabriel warned of nothing less than “gigantic consequences” for Europe in case of a Greek bankruptcy.

 
Tyler Durden's picture

Futures Rise, Bund Rout Pauses On "Cautious Optimism" Ahead Of Greek Endgame





With the Greek IMF payment just 48 hours away, and Europe having submitted its best and final offer to Greece in a battle of "deal proposals", today Greek PM Tsipras will meet with European Commission President Juncker to discuss the recently submitted reform proposals by the Greek premier. However, a Greek government spokesman says that Greek PM Tsipras will not meet Eurogroup's Dijsselbloem despite several reports suggesting that they would do so later today. Last night it was reported that the EU, ECB, IMF agreed on terms for a cash-for-reform plan to be presented to Greece. However, a senior EU official has said that they are concerned that the stringent measures of the proposal could be met with rejection by Greece.

 
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