And just like that, the list of countries who want to repatriate their gold just increased by one more, because after Venezuela, Germany, the Netherlands, Switzerland, and rumors of Belgium, we now can add Austria to those nations for whom the "6000 year old barbarous relic bubble" is more than just "tradition."
- Oil slide hits European stocks, safe-haven assets sought (Reuters)
- IEA Cuts Global Oil Demand Forecast for 4th Time in Five Months (BBG)
- Cue constant pro-Abe propaganda out of Japan: Japan’s Secrecy Law Takes Effect as Abe Seeks Fair Vote Coverage (BBG)
- As if it has a choice: Japan’s GPIF Bets on Abenomics-Driven Recovery (WSJ)
- Heather Capital: How a $600 Million Hedge Fund Disappeared (WSJ)
- Senate Panel Votes to Authorize U.S. War on Islamic State (BBG)
- Japan’s 28 IPOs in 11 Days Give Abe a Lift as Startups Boom (BBG)
- U.S. authorities face new fallout from insider trading ruling (Reuters)
- Greek Stock Rout Means ASE Is 2014 Worst After Russia (BBG)
- Shale operaters Goodrich, Oasis Petroleum cut spending for 2015 as oil slides (Reuters)
- Greece to hold elections in January if president vote fails (Reuters)
- Norway’s Shock Rate Cut Drives Krone to Lowest Since 2009 (BBG)
- ‘Severe Downturn’ Threatening Norway, Central Bank Governor Says (BBG)
- Russia’s Fifth Rate Increase Fails to Halt Ruble Slide to Record (BBG)
- SNB Says Deflation Risks Increased as Franc Cap Maintained (BBG)
- China eases bank lending restrictions, PBOC targets 10 trillion yuan in loans for 2014 (Reuters)
- Mobius Says China’s Bull Market Is Just Getting Started (BBG)
- How Wal-Mart Made Its Crumbling China Business Look So Good for So Long (BBG)
Germans can’t get their gold reserves. Do how did the Dutch get their 122 tonnes of gold?
Is Germany being prevented from holding gold to prevent independent foreign policy action?
- Welcome to the recovery:
- Oil Extends Retreat With European Stocks as Dollar Gains (BBG)
- California police, protesters clash again after 'chokehold' death (Reuters)
- Ruble’s Rout Is Tale of Failed Threats, Missteps (BBG), not to be confused with "Yen's Rout Is Tale Of Keynesian Success, Prosperity"
- Uber banned from operating in Indian capital after driver rape (Reuters)
Wondering why stocks suddenly found a soft patch in the last few minutes of trading? Here is the reason: according to a report in German Die Welt, the ECB's president and former Goldman Sachs employee, Mario Draghi, has just lost the majority on the ECB Executive Board.
“Can a debt crisis be cured with more debt?” it is difficult to envision a return to normalcy within my lifetime (shorter than it is for most of you). I suspect future generations will be asking current policymakers the same thing that many of us now ask about public smoking, or discrimination against gays, or any other wrong turn in the process of being righted. How could they? How could policymakers have allowed so much debt to be created in the first place, and then failed to regulate their own system accordingly? How could they have thought that money printing and debt creation could create wealth instead of just more and more debt? How could fiscal authorities have stood by and attempted to balance budgets as opposed to borrowing cheaply and investing the proceeds in infrastructure and innovation? It has been a nursery rhyme experience for sure, but more than likely without a fairytale ending.
- Thanks Fed: Meet the high schooler who made $300K trading penny stocks under his desk (Verge)
- Protesters block NY streets after officer cleared in chokehold death (Reuters)
- U.S. Plans Probe of New York Police Chokehold Death (BBG)
- Sharpton Leads Civil-Rights Meeting on Chokehold Decision (BBG)
- Staten Island on Edge Over Grand Jury Decision In Death of Eric Garner (WSJ)
- Draghi Tests Speed Limit as ECB Awaits Stimulus Evidence (BBG)
- European Stocks Approach Seven-Year High Before Draghi Statement (BBG)
- Britain targets multinationals that try to dodge taxes (Reuters)
- Oil Trains Hide in Plain Sight (WSJ)
As part of the final solution to inner city social unrest across America, President Obama has put forward recommendations that all police offers wear body cameras... this is what the 'eyes-are-always-on-you' NYPD police camera will look like. What ever happened to Google Glass privacy concerns?
- Fall of the Bond King: How Gross Lost Empire as Pimco Cracked (BBG)
- Hong Kong 'Occupy' leaders surrender as pro-democracy protests appear to wither (Reuters)
- Ashton Carter, Ex-Pentagon No. 2, Emerges as Obama Favorite for Defense Secretary (WSJ)
- Oil, the Ruble and Putin Are All Headed for 63. A Russian Joke -- for the Moment (BBG)
- New U.S. oil and gas well November permits tumble nearly 40 percent (Reuters)
- Swedish government on brink of collapse (AJ)
- China says Britain has no moral responsibility for Hong Kong (Reuters)
- Indian Labs Deleted Test Results for U.S. Drugs, Documents Show (BBG)
- Moody’s Downgrades Japan’s Credit Rating (WSJ)
- China Factory Gauge Drops as Shutdowns Add to Slowdown (BBG)
- Euro zone factory growth stalls in November as new orders sink (Reuters)
- Espírito Santo Faces Money-Laundering Investigations (WSJ)
- Oil at $40 Possible as Market Transforms Caracas to Iran (BBG)
- Hong Kong warns protesters not to return after clashes close government HQ (Reuters)
- Bond Secrets Decoded 9,539 Miles From Wall Street in Lot (BBG)
- Ruble Rally Turns to Rout as Fortunes Tied to Sinking Oil (BBG)
- Loans Made in Blink as Banks, Funds Vie for LendingClub Clients (BBG)
- Oil Seen in New Era as OPEC Won’t Yield to U.S. Shale (BBG)
- Alberta Producers With World’s Cheapest Oil Face Cascading Woes (BBG)
- Bundesbank’s Weidmann Rejects Calls for German Stimulus Plan (WSJ)
- Google Should Be Broken Up, Say Euro MPs (BBC)
- Calm comes to troubled Ferguson; protests dwindle across U.S. (Reuters)
- Russia’s Banks Feel Capital Squeeze in Grip of Sanctions (BBG)
- Italian Unemployment Rate Rises to Record, Above Forecasts (BBG)
"There are good people of all races/creeds/colors/whatever that want to just live and let live. Seek out those people, give them a voice, cherish them. Or, as we say in the prepper community – prep, train and form teams."
It's not a bubble. Until it is...
- National Guard, police curb Ferguson unrest as protests swell across U.S. (Reuters)
- Ferguson Reaction Across U.S. Shows Complex Racial Split (BBG)
- Democratic senator Schumer: Democrats Screwed Up By Passing Obamacare In 2010 (TPM)
- Veto threat derails Reid tax deal (Hill)
- Justice Department Investigating Possible HSBC Leak to Hedge Fund (WSJ)
- Merkel hits diplomatic dead-end with Putin (Reuters), and yet...
- Merkel Said to Reject Ukraine NATO Bid as Rousing Tension (BBG)
- HSBC, Goldman Rigged Metals’ Prices for Years, Suit Says (BBG)