India

Tyler Durden's picture

Frontrunning: July 9





  • ICE's NYSE to determine the rate used by key competitor CME: NYSE Euronext to Take Over Libor (WSJ)
  • Japan slams China over maritime disputes (FT)
  • The Twinkie Returns, With Less Baggage (WSJ)
  • Pentagon Workers From Pennsylvania to Ghana Hit by Cuts (BBG)
  • Why Prostitutes Aren't Enough to Deprive the World of Eliot Spitzer (BBG)
  • Groups gather in Turkish protest park after night of clashes (Reuters)
  • Apartment Rents Rise, But the Pace Is Slowing (WSJ)
  • Asiana Seen Saving Millions With Tactic to Bar U.S. Suits (BBG)
  • Bin Laden's life on the run revealed by Pakistani inquiry (Reuters)
  • Fracking Firms Face New Crop of Competitors (WSJ)
 
Pivotfarm's picture

Water, Water Everywhere - Just Buy it, Don’t Drink it!





According to analysts, the world will end up facing a crisis over water shortages, and it has already begun in many parts of the world; and not just in those that are in Africa.

 
Tyler Durden's picture

Ken Rogoff: "Policymakers Should Be Cautious Seeing Gold's Drop As A Vote Of Confidence"





In principle, holding gold is a form of insurance against war, financial Armageddon, and wholesale currency debasement. And, from the onset of the global financial crisis, the price of gold has often been portrayed as a barometer of global economic insecurity. In fact, the case for or against gold has not changed all that much since 2010 - it makes perfect sense to hold a small percentage of your assets in gold as a hedge against extreme events. As Ken Rogoff explains, the recent collapse of gold prices has not really changed the case for investing in it one way or the other. Yes, prices could easily fall below $1,000; but, then again, they might rise; but he warns, policymakers should be cautious in interpreting the plunge in gold prices as a vote of confidence in their performance.

 
Tyler Durden's picture

Bundesbank Warns China's Currency "On Its Way To Becoming Global Reserve Currency"





Following the most recent shift 'away' from a USD-centric world (with the China-Australia direct currency convertibility), it seems the possibility of China's Yuan as the next global reserve currency is getting closer. The Brits, Germans, and now the Swiss (who just signed a free-trade-agreement with China) are all actively vying to become Europe's Yuan trading hub as it seems the long line of developments to internationalize the currency over the past two years. As Bundesbank board member Joachim Nagel noted in a speech entitled "Reniminbi as a potential reserve currency" this week, "the Chinese currency is well on its way to becoming one of the future global reserve currencies." He noted that, although the USD is still the most commonly-used currency for settling trade with China; from virtually zero in 2010, the Yuan is used to settle over 12% of trading transactions now - and is likley to increase further.

 
Asia Confidential's picture

Why Bonds Are Set To Bounce Back





Increasing concerns over deflation will limit any QE tapering in the second-half and set the stage for bonds to outperform stocks once again. 

 
Tyler Durden's picture

Guest Post: The New Praetorians And The New Cold War





In a democracy rule is by consent. In a dictatorship it is by control. Which do we have in the West? It seems to me, it is no longer clear. We certainly still have the rituals of rule by consent. But behind the elected front men and women is a shadow state. It’s people ritually swear allegiance to those we elect. They declare themselves there to serve and protect. But when it is us they spend their time spying on, whose interests are they protecting? Can you really serve those you do not trust?

 
Tyler Durden's picture

Guest Post: Gold's Under-Valuation Is Extreme





The price of gold fell last week to the $1,200 level. The lemming sentiment in capital markets is uniformly bearish, yet every price-drop brings forth hungry buyers for physical gold from all over the world. Even hard-bitten gold bugs in the West are shaken and frightened to call a bottom, yet it is these conditions that accompany a selling climax. This article concludes there is a high possibility that gold will go sharply higher from here. There are three loose ends to consider: valuation, economic and market fundamentals.

 
Tyler Durden's picture

The Coup Is Complete: Egypt Military Tells Mursi He Is No Longer President - Tahrir Celebrates - Live Feed





Well that was quick:

MORSI SPEECH YESTERDAY DIDN'T MEET PEOPLE'S DEMANDS
EARLY PRESIDENTIAL ELECTIONS TO BE HELD
EGYPT'S CONSTITUTION TO BE SUSPENDED UNDER PLAN
MILITARY AGREED GOVERNMENT OF TECHNOCRATS TO BE FORMED

US Official: Non-essential diplomats and embassy staff to leave Egypt

Egypt Muslim Brotherhood TV taken off air

Head of Egypt constitutional court to be sworn in as interim head of state on Thursday

*CLASHES IN EGYPT AFTER ARMY STATEMENT LEAVE 6 DEAD NATIONWIDE

*STATE DEPT TELLS U.S. CITIZENS IN EGYPT TO LEAVE COUNTRY

 
Tyler Durden's picture

Frontrunning: July 3





  • Portuguese bond yields soar amid political turmoil (FT)
  • Portugal Resignation Rocks European Markets (WSJ)
  • Portugal, Greece risk reawakening euro zone beast (Reuters)
  • Egypt’s military chiefs hold crisis meeting as Mursi snubs ultimatum (Al Arabiya)
  • Egypt Crisis Deepens as Mursi Refuses to Step Down (BBG)
  • Hidden microphone found in London embassy: Ecuador (AFP)
  • Health Law Penalties Delayed (WSJ)
  • Rise in mortgage rates cut into homebuyer demand last week (Reuters)
  • Bolivia angered by search of president's plane, no sign of Snowden (Reuters)
  • Olympus ex-chairman gets suspended sentence (FT)
 
Tyler Durden's picture

Crude Surges Past $100 As Cairo Death Toll Rises





Following Mursi's TV and Twitter statement earlier, when WTI crude futures re-opened and immediately started to accelerate higher, breaking decisively through the Maginot Line of $100 (on their way to $4.00 gas at the pump in the US). The tensions are escalating between pro- and anti-Mursi protesters as Reuters reports 3 more dead and a further 90 wounded today.

 
Tyler Durden's picture

What Happened The Last Time Gold Traded Here?





In November 2009 the IMF decided it was an opportune time to authorize the sale of 403.3 metric tons of gold. Very quickly after announcing this China, India, Russia, and some EU central banks piled in snapping up the IMF's offer. The current price of gold is around CNY7,300 per ounce, exactly what it was when China last loaded the boat...

 
Sprott Group's picture

Silver is winning India’s “War on Gold”





As India continues to wage war with gold, investors are seeking out the yellow metal through any means available. Reports today suggest that there is not enough room on commercial flights into Dubai for all those investors seeking to purchase gold.

 
Tyler Durden's picture

Snowden Withdraws Russia Asylum Request; Nine Countries Deny Application





Things are turning from bad to worse for the real-life version of The Terminal's Edward Snowden, who a day after applying to 21 countries for political asylum has been flooded with rejection letters near and far, even as he was forced to cancel his application to his current host nation, Russia, after being told he would have to stop leaking secrets as a condition to stay. More from the FT: "The 30-year-old fugitive’s options narrowed further on Tuesday when China reacted coolly to the idea of him moving there, Poland rejected an application and other European nations said asylum requests had to be made in the country."

 
Tyler Durden's picture

The 21 Nations That Edward Snowden Is Applying To For Asylum





Are these the only truly free countries left in the world - those that are not joined at the hip with the United States and ready and willing to do Obama's bidding at the drop of a hat? The NSA's most infamous whistleblower certainly thinks so.

 
Tyler Durden's picture

Only 1.2% Of Friends "Like" Abe's Latest Social Media Screed





With the Abenomics honeymoon over, and the market starts to turn against your extreme policies, you have to bring out the big guns. Girl bands, Teenagers in short skirts, Sumo champions, and now social media is the platform of choice for Shinzo Abe's latest propaganda-fest on how he is saving the world one printed Yen at a time. Unfortunately for him, of the 8,627 people that viewed his note on LinkedIn, a mere 66 gave it a thumbs up (how many ministers are there in his party?) and only 107 'liked' it on Facebook. It seems he is 'lucky' that there is no Dislike button...

 
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