• Gold Money
    05/26/2016 - 14:27
    Here’s a question that might have you pondering: Is gold a commodity? More importantly, are we doing a disservice to the gold industry by calling gold a commodity? These may sound like silly...

Italy

Tyler Durden's picture

Furious China Slams "Irrational" US Trade War, Warns "Will Take Steps"





Overnight the Commerce Department escalated its trade war with China when it implemented the latest clampdown on a glut of steel imports, when it announced that corrosion-resistant steel from China will face final U.S. anti-dumping and anti-subsidy duties of up to 450%. China's Commerce Ministry said it was extremely dissatisfied at what it called the "irrational" move by the United States, which it said would harm cooperation between the two countries. "China will take all necessary steps to strive for fair treatment and to protect the companies' rights," it said, without elaborating.

 
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"Buying Here Is Like Picking Pennies In Front Of A Steamroller" - 10 Reasons To Be Bearish From Credit Suisse





Little margin for error.  Multiples are elevated and the economic/earnings cycle is aging – this means the margin for error is small and shrinking and thus chasing the SPX at 2100+ is akin to “picking up pennies in front of a steamroller”. 

 
Sprott Money's picture

A Crisis Unlike We Have Seen In Human History





How many “emergency” “secret” meetings do the central planners around the world need to have before the citizens of the respective countries begin to fully understand and take notice that something is very, very wrong?

 
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Imminent Intervention? Greece, Italy, & Malta Close Airspace For Aircraft From Libya





Weird things are happening in the Mediterranean Sea. Almost simultaneously three countries in the Mediterranean have closed their airspace and territories for aircraft departing from Libya. The exceptions are very few and involve the transport of military and evacuees. At the same time, three NATO exercises are taking place but the airspace closure and directly little to do with that.

 
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Stronger Dollar Sends Futures Higher, Oil Lower, Asian Stocks To Two Month Lows





Yesterday's weak dollar headfake has ended and overnight the USD rallied, while Asian stocks dropped to the lowest level in 7 weeks and crude oil fell as speculation returned that the Federal Reserve will raise interest rates as early as next month. The pound jumped and European stocks gained thanks to a weaker EUR.

 
Tyler Durden's picture

The Case For Brexit





"I don’t see Brexit as a panacea, but merely the chance to manage one’s own affairs and to conduct one’s own debates over what should or should not be done by the state in one’s name...In Britain’s case, the change would inevitably give rise to economic winners and losers and it may easily be imagined to involve some additional, net short-term expense of time and effort as the country moves to adapt. But to pretend, for example, that Europe will maliciously shut out UK exports or discourage the tourists and holiday-homers from visiting in their droves and so risk a devastating retaliation from its biggest source of external income is worse than a joke."

 
GoldCore's picture

Buy Gold As “Extremely Low-Risk Asset” – Rogoff Advice To Creditor Nations





Buy gold as it is an “extremely low-risk asset” is the advice of Professor Kenneth Rogoff to emerging market, creditor nation central banks including the People’s Bank of China (PBOC). “There is no limit to its price ...” he said ...

 
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Eurozone Business Growth "Unexpectedly" Slows Down To 16 Month Low





It wasn't just Japan's PMI which overnight printed at a disappointing 47.6, missing expectations and signaling the sharpest decline in operating conditions since December 2012. Overnight Markit showed that the Chinese credit-induced global slowdown is coming far faster than most (if not Morgan Stanley) expected, when the Eurozone flash PMI printed at 52.9, the lowest level in 16 months. As Reuters put it, this offers "the latest evidence that a strong acceleration in growth in the first three months of the year was only temporary" and likely

 
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Introducing The Gotthard Train Tunnel, The World's Longest & Deepest Train Tunnel





While the US has been focused on resolving LGBT rights issues and deciding whether or not the Confederate flag can fly in cemeteries, Switzerland has focused on something that's actually productive. After 17 years of work, and at a cost of $12 billion, Switzerland has engineered and constructed the world's longest and deepest railroad tunnel. At a depth of 7,500 feet, the 35 mile long GBT cuts underneath the Alps, and will remove natural barriers to trade and tourism, along with easing the burden of freight traffic on Switzerland's ecosystem.

 
Tyler Durden's picture

The Eurozone Is The Greatest Danger





Financial and economic prospects for the Eurozone have many similarities to the 1972-75 period in the UK, which this writer remembers vividly.  This time, the prospects facing the Eurozone potentially could be worse. The obvious difference is the far higher levels of debt, which will never allow the ECB to run interest rates up sufficiently to kill price inflation. More likely, positive rates of only one or two per cent would be enough to destabilise the Eurozone’s financial system. Let us hope that these dangers are exaggerated, and the final outcome will not be systemically destabilising, not just for Europe, but globally as well. A wise man, faced with the unknown, believes nothing, expects the worst, and takes precautions.

 
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First Italy, Now Greek Banks Being Investigated For 'Funding' Politicians, Media





With Trump going after billionaire-funded media in America, and Italy facing probes over its banking-system-controlled media, it is perhaps no surprise that yet another generally corrupt nation - Greece - is facing a parliamentary committee investigation into spuriously large 'bank loans' and highly-concentrated advertising spend made to various political parties and media groups in 2015. Probably just a coincidence that all the media that received the large amounts of advertisement were also pro Bailout- and Austerity-supporters ever since 2010.

 
GoldCore's picture

Bank Bail-Ins Pose Risks To Depositors, Investors & Economies





Bank bail-ins remain one of the greatest, but most poorly analysed and understood threats to depositors and savers today. The law of unintended consequences …  Fail to prepare, prepare to fail ...

 
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Greek Pipeline Breakthrough To Challenge Russian Gas Dominance In Europe





After years of debate, political jockeying and acrimony, a major pipeline project to bring natural gas to Southern Europe has broken ground. The Trans-Adriatic Pipeline (TAP) will connect the Caspian Sea to European markets, providing Europe with another large source of natural gas that will help the continent diversify away from Russia. The route begins at the Caspian Sea in Azerbaijan, where the South Caucuses Pipeline will carry Caspian gas from the large Shah Deniz-2 gas field, delivering it to the border with Turkey.

 
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Weapons Headed To Libya: Hillary's Interventionist Disaster Continues To Spiral Out Of Control





Earlier today, The Guardian published an article detailing how foreign leaders were gathering in Vienna to discuss how to address the humanitarian disaster/ISIS haven they themselves created in Libya. As usual, the key agenda item revolved around whether the U.S. and its allies should ship weapons into the arena to inspire, you know, freedom and democracy.

 
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