Many commentators have mentioned that Hillary Clinton left behind no major achievement as the U.S. Secretary of State; but, actually, she did. Unfortunately, all of her major achievements were bad, and some were catastrophic. Six countries were especially involved: Honduras, Haiti, Afghanistan, Libya, Syria, and Ukraine. The harm she did to each country was not in the interest of the American people, and it was disastrous for the residents there. Hillary Clinton at every campaign debate says “I have a better track-record,” and that she’s “a progressive who gets things done.” Here’s what she has actually done when she was Secretary of State...
There’s economic weakness everywhere you look!
The end result may be "peace," but of the Machiavellian sort. "Peace," Machiavelli wrote, is the set of conditions imposed by the winner on the loser of the last war. The Turks and the Russians understand him. The Americans? Perhaps not so much.
In what could well be a final act of desperation, central banks are abdicating effective control of the economies they have been entrusted to manage. First came zero interest rates, then quantitative easing, and now negative interest rates – one futile attempt begetting another. Just as the first two gambits failed to gain meaningful economic traction in chronically weak recoveries, the shift to negative rates will only compound the risks of financial instability and set the stage for the next crisis.
- Stocks knocked back as oil rally falters (Reuters)
- Still no deal for Britain on EU reforms after all-night talks (Reuters)
- Oil Falls Near $30 as Rising U.S. Crude Stockpiles Expand Glut (BBG)
- PBOC to Raise Reserve Ratios for Banks That Don't Meet Criteria (BBG)
- China’s Top Securities Regulator to Step Down (WSJ)
Not even this morning's mandatory European open ramp has been able to push US equity futures higher, and as a result moments ago the E-mini hit session lows on rising concerns about Brexit as talks drag on in Brussles, but mostly as a result of overnight confusion about China's loan explosion and whether the PBOC has lost control over its maniacally-lending banks.
Bilal Erdogan, son of Turkish President Recep Tayyip Erdogan and alleged patron saint of Islamic State's illicit oil trafficking enterprise, is being accused on money laundering in Italy. His lawyers "have nothing to say."
Brunner and Brandberg maintain that the tendency in the EU and in OECD member countries is to “weaken individual liberties” and to exercise greater control over citizens. In this context "cash is comparable to the service firearm kept by Swiss citizen soldiers," the pair argued in their motion, saying they both “guarantee freedom.” The move toward electronic payments allows governments "total surveillance" over individuals, the pair claim.
Beware politicians trying to limit the ways you can conduct private economic business. It never turns out well.
Gov Officials Admit Turkey Has REPEATEDLY Carried Out False Flag Terror
As with Japan, Western economies that pursue a long-term policy of low or negative interest rates can expect decades of low growth unless these “unorthodox” monetary policies are rapidly abandoned. Recessions are not a problem of insufficient demand. They are a problem of supply being misaligned with demand.
European Banks holding European sovereign debt may have to take haircuts and be part of bail in plans should that same debt default, according to a plan being pursued by German government advisers. In another attempt to shelter German tax payers from the largess and excess of fellow European neighbouring countries' national banks, the move could trigger a run on billions of euro of sovereign debt of said banks. In an article penned by the Telegraph's Ambrose-Evans Pritchard, one of the council's dissenting members describes the plan as the "fastest way to break up the Eurozone".
Months After Welcoming 100,000 Refugees To The U.S. John Kerry Warns Migrants Pose An "Existential Threat" To EuropeSubmitted by Tyler Durden on 02/15/2016 17:24 -0400
We find it ironic that the person now warning about refugees posing "a near existential threat" to an entire continent, was just five months ago so very eager to welcome 100,000 Syrian refugees to the US. We wonder if his policy on accepting those same refugees with open arms has changed as of this moment... and who gets to profit this time?
- China’s Yuan Makes Largest Gain Since 2005 on PBOC Cue (WSJ)
- Japan's Nikkei soars over 7%, for its biggest gain since 2008 (BBG)
- Global shares rise as firmer Chinese yuan eases deflation fears (Reuters)
- Banks' Surge Takes Europe's Stock Rally Into 2nd Day; HSBC Rises (BBG)
- Oil extends rally on prospects OPEC could act to counter low prices (Reuters)
- Europe's Higher-Yielding Bonds Benefit as Global Turmoil Eases (BBG)
"The Chinese market didn’t react as bad as we feared and with the weak export data there is some big hope that he central banks will react quite fast," John Plassard, senior equity-sales trader at Mirabaud Securities LLP in Geneva, told Bloomberg. "It’s a mix of hope of intervention from the Asian central bank, short squeeze and also a relief in some energy and banking sectors, the most shorted sectors." And there are your catalysts for today's surge: hope of more central bank intervention and a global short squeeze.