• ilene
    01/28/2015 - 19:33
    Suppose you could print up counterfeit dollars, euros or yen that were identical to the real things. Fun, you think? Here's how it plays out. 

Mexico

Tyler Durden's picture

A New Age Of IMF Bailouts – Great Britain In The 1970s





Hearing of IMF interventions generally conjures up images of developing nations (and the occasional Eurozone peripheral economy of late) facing some kind of financial difficulty. But it was actually Great Britain, the cradle of the industrialized world, which in 1976 became one of the first countries ever to be "bailed out" by the IMF in the modern sense of the term.

 
Tyler Durden's picture

Sears Halted, Plunges After Report Vendors Halts Shipments





Is this the beginning of the end for Eddie Lampert's exercise in financial engineering that is Sears Holdings Corp? Bloomberg reports that three of the biggest insurance firms for Sears' suppliers are seeking to reduce coverage... which has led to:

*SEARS 'MEDIUM-SIZED SUPPLIER' VENDOR SAID TO HALT SHIPMENTS AS INSURERS REDUCE COVERAGE

The stock has been halted twice on volatility limits and is down 10% for now. SRAC 5Y CDS are offered at ~39% upfront, implying around a 87% probability of default.

 
Tyler Durden's picture

Guest Post: Turkey, The Kurds And Iraq - The Prize & Peril Of Kirkuk





The modern Turkish government is looking at Iraq and Syria in a way similar to how Damat Ferid did almost a century ago when he sought in Paris to maintain Turkish sovereignty over the region. From Ankara's point of view, the extension of a Turkish sphere of influence into neighboring Muslim lands is the antidote to weakening Iraqi and Syrian states. However, the Turkish vision of the region simply does not fit the current reality and is earning Ankara more rebuke than respect from its neighbors and the West. The Kurds, in particular, will continue to form the Achilles' heel of Turkish policymaking. This is the crowded battleground that Turkey knows well. A long and elaborate game of "keep away" will be played to prevent the Kurds from consolidating control over oil-rich territory in the Kurdish-Arab borderland, while the competition between Turkey and Iran will emerge into full view.

 
Tyler Durden's picture

Americans On Ebola: "I'm Getting So Nervous"





Coast to coast, ordinary Americans are growing more fearful of what Ebola in America means. Despite reassurances from officials (President Obama on down) that it's contained, it appears it is not. By anecdote, as Reuters reports, in the Dallas community of Vickery Meadow (where Richard Duncan was staying), a cultural polyglot where about three dozen languages are spoken, the one word on everyone's lips is "Ebola." There is little indication a visitor to the community had been infected with a disease that has killed more than 3,000 people in West Africa, in the worst Ebola outbreak on record. "There's no notes on the doors. No one came to talk to us. I picked up my kids from school down the street and found out it was this close," one mother exclaimed, adding "right now, I'm not sure to take my daughter to school tomorrow... I'm getting so nervous."

 
Tyler Durden's picture

Guest Post: America - The Grim Truth





"If you call a life of surveillance, anxiety and ceaseless toil in the service of a government you didn’t elect 'freedom', then you and I have a very different idea of what that word means." There are only two possible futures facing the United States, and neither one is pretty. Whether the collapse is gradual or gut-wrenchingly sudden, the results will be chaos, civil strife and fascism.

 

 
George Washington's picture

Top Doctors: Ebola May Become Airborne … And May ALREADY Be Transmissible Via Aerosols





We CAN Stop the Ebola Epidemic ... But ONLY If We Understand How It’s Spread

 
Tyler Durden's picture

A "No Social Media List" For Extremists And Potential Terrorists?





You have heard of the "No Fly List", right?  Well, now the Tories are pledging that if they win the next election in the UK they will establish a list of “extremists” that will have to have their social media posts “approved in advance by the police” before they post them.  There are also plans to ban “extremists” from broadcasting and speaking at public events.  The stated goal of these proposals is to crack down on terrorism, but in the process the civil liberties of the British people are going to be flushed down the toilet. To help explain, below is a list of 72 types of Americans that are considered to be “extremists” and “potential terrorists” in official U.S. government documents.

 
Tyler Durden's picture

Russia Discovers Massive Arctic Oil Field Which May Be Larger Than Gulf Of Mexico





In a dramatic stroke of luck for the Kremlin, this morning there is hardly a person in the world who is happier than Russian president Vladimir Putin because overnight state-run run OAO Rosneft announced it has discovered what may be a treasure trove of black oil, one which could boost Russia's coffers by hundreds of billions if not more, when a vast pool of crude was discovered in the Kara Sea region of the Arctic Ocean, showing the region has the potential to become one of the world’s most important crude-producing areas, arguably bigger than the Gulf Of Mexico. The announcement was made by Igor Sechin, Rosneft’s chief executive officer, who spent two days sailing on a Russian research ship to the drilling rig where the find was unveiled today.

 
Tyler Durden's picture

"Good Riddance, Eric Holder" - Live Feed





The most polarizing man in Barack Obama's administration — besides the president himself — is calling it quits. President Obama will make a "personnel announcement" at 1630ET...

 
Tyler Durden's picture

Ho-Ho-Holding Mexican Bimbo Can't Get Paid





Sad but true. Current owner of the Twinkies and Ho-Ho brands, Mexico's Grupo Bimbo, had planned to take advantage of an exuberant public stock market by bringing a secondary stock offering to reduce its leverage. Everything was good-to-go on Friday, but with the market now down a stunning 1.5% from pre-BABA IPO levels, they have pulled the offering:

*MEXICO’S BIMBO SAID TO POSTPONE FOLLOW-ON SHARE OFFER: REUTERS

No comment as yet on the reason, though we assume "market conditions" will be cited as the fickleness of capital markets' animal spirits is once again exposed for all to see. Perhaps Grupo Bimbo should rename themselves Grupo Bimbaba?

 
Tyler Durden's picture

Key Events In The Coming Week





With the snoozer of an FOMC meeting in the rearview mirror, as well as Scotland's predetermined independence referndum, last week's key events: the BABA IPO and the iPhone 6 release, are now history, which means the near-term catalysts are gone and the coming week will be far more relaxed, if hardly boring. Here is what to expect.

 
Tyler Durden's picture

GDP Watch: Summer 2014 Was World's Warmest Ever





Since weather has become the most crucial factor in forecasting economic growth, we thought it crucial to the future of central bank policy to note that Summer 2014 was officially the hottest one ever, according to NOAA. This of course means there is "pent-up" cold weather, which may explain the collapse in global growth expectations. However, this chatter about heat may surprise Americans (aside from those that live in the Western States) as the Mid-Atlantic and Northeast U.S. were running cooler than normal (thus concerns about growth). According to NOAA’s records, this is the 38th consecutive August and 354th consecutive month with a global average temperature above the 20th century average.

 
Tyler Durden's picture

How FedEx Just Beat EPS By A Whopping 14 Cents





"During the quarter, the company acquired 5.3 million shares of FedEx  common stock. As of August 31, 2014, no shares remained under the existing share repurchase authorizations. Share repurchases benefited  earnings in the quarter by $0.15 per diluted share."

 
Syndicate content
Do NOT follow this link or you will be banned from the site!