India

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Wikileaks Releases Proof Of NSA Spying On Merkel, Netanyahu, Berlusconi And Others





Some folks have been spying again... but we are sure President Obama "was not aware" of any of it...

 
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10 Dead, Troops Deployed, Water Rationed As Indians Riot: "We Are Here To Die"





The Jats are angry. Violent protests by the rural caste have left 10 dead and 150 injured in Haryana, India where the government has sent 4,000 troops and 5,000 paramilitaries with shoot-on-sight orders.

 
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When Cash Is Outlawed... Only Outlaws Will Have Cash





If the Benjamin is killed, it will “deter illicit activities” they say, apparently taking us all for complete idiots. Very organized criminals all over the world could be heard rolling on the floor laughing their heads off at this pronouncement.

 
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The Global Oil Glut Is So Great, Tankers Take The Long Route Around Africa To Find A Buyer





Inbound cargoes take longer voyages, which allows more time to find a buyer, or onshore storage space. Many cargoes from the Middle East and India have diverted around the Cape of Agulhas, at the southernmost point of Africa, on their way to Europe rather than passing through the Suez Canal in Egypt. The longer trip takes 30-40 days instead of the 15-20 day journey through the Suez Canal.

 
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Gold Is The "Shining Bright Spot" In The Commodity Complex





Gold is many things to many people. A perennial battleground subject, gold remains arguably one of the most debated asset classes across global financial markets, but as Goldman's precious metals equity analyst notes, from a fundamental perspective, the risk/reward looks more balanced than that of its bulk and base metal peers, especially in terms of the supply/demand dynamics.

 
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Another Dead Cat Bounce (And They've Already Buried The Cat)





The Fed doesn’t see it coming and would be petrified by the prospect of a Wall Street hissy fit were it actually to express doubts about the sustainability of this so-called recovery. At the same time, Wall Street fails to recognize the obvious truth that the Fed is out of dry powder. If it attempts QE4, it will be a confession of total failure and lack of efficacy. If it actually seeks to launch negative interest rates, it will ignite a political firestorm of untold intensity. So both parties are unprepared for what is coming down the pike, and that makes this time truly different. There will be no massive liquidity injection and quick reflation of risk assets because even the Fed can’t push on a string when it is out of dry powder.

 
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The Decline Of The Coal Industry Is "Long-Term" And "Irreversible"





"Unlike most other commodities, thermal coal is unlikely to experience another period of tightness ever again because investment in new coal-fired generation is becoming less common and the implied decline in long-term demand appears to be irreversible,"

 
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Why The Keynesian Market Wreckers Are Now Coming For Your Ben Franklins





Larry Summers is a pretentious Keynesian fool, but we refer to him as the Great Thinker’s Vicar on Earth for a reason. To wit, every time the latest experiment in Keynesian intervention fails - as 84 months of ZIRP and massive QE clearly have - he can be counted on to trot out a new angle on why still another interventionist experiment or state sponsored financial fraud is just the ticket. Right now he is leading the charge for the greatest stroke of foolishness yet conceived.

 
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21 New Numbers That Show That The Global Economy Is Absolutely Imploding





After a series of stunning declines through the month of January and the first half of February, global financial markets seem to have found a patch of relative stability at least for the moment. But that does not mean that the crisis is over. On the contrary, all of the hard economic numbers that are coming in from around the world tell us that the global economy is coming apart at the seams.

 
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Frontrunning: February 17





  • Futures rise as oil gains hold steady (Reuters)
  • China promises economic stability as G20, parliament loom (Reuters)
  • Obama scolds Senate Republicans for Supreme Court threat (Reuters)
  • China Deploys Missiles on Disputed South China Sea Island (WSJ)
  • China Ramps Up Rhetoric, Plans New Steps to Juice Up Economy (BBG)
  • China Loses Control of the Economic Story Line (WSJ)
 
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Visualizing America's Shocking Defense Spending





Wouldn’t it be a strange world to live in if 50% of military spending was paid for by just 5% of the population? Sometimes truth is stranger than fiction.

 
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UAE Offers India Free Oil To Ease Storage Woes





In an oil sector first, the oil-rich United Arab Emirates (UAE) has offered free oil to India in return for a storage deal at India’s planned underground facility as the supply glut worsens and some analysts predict that "peak storage" could sending prices crashing further.

 
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Neil Howe Warns The 'Professional Class' Is Still In Denial Of The Fourth Turning





"The world has fundamentally shifted over the last decade, especially since we’ve emerged from the Great Recession... But the professional class has been very slow to understand what is going on, not just quantitatively but qualitatively in a new generational configuration that I call the Fourth Turning. They don’t accept the new normal. They keep insisting, just two or three years out there on the horizon, that the old normal will return – in GDP growth, in housing starts, in global trade. But it doesn’t return."

 
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Lines Around The Block To Buy Gold In London; Banks Placing "Unusually Large Orders For Physical"





This is the best quarterly performance for Gold in 30 years... "It’s been crazy – it’s been the best week since 2012. We’ve had people queuing round the block..."

 
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