• GoldCore
    07/01/2015 - 10:07
    With all eyes on Greece it would seem another crisis relating to unpayable debt is brewing in the Caribbean. The governor of Puerto Rico, Alejandro García Padilla, has warned that the island is...

Middle East

CalibratedConfidence's picture

TI Europe, Largest Oil Tanker, Sits Off Malaysia





Oil tankers are just sitting in the water, motionless.   Floating storage vessels, like Knock Nevis, are just hanging out off the coast of Bahrain.   The largest oil tanker, TI Europe, rests quietly off the coast of Malaysia.  
 
GoldCore's picture

JP Morgan Cornering Silver Bullion Market?





JP Morgan’s massive silver buying brings to mind the Hunt Brothers' attempt to corner the silver market in the late 1970s. The Texas oil-tycoons tried to corner the silver market by accumulating a massive silver futures position.  Ted Butler has estimated that JP Morgan may currently hold far more than their official figure of 55 million ounces.

 
Tyler Durden's picture

Saudis, Russians No Longer Buying Gold In Dubai As Oil Slump Curbs Precious Metals Shopping





“The market is dead,” one industry insider tells Bloomberg, referring to demand for tax-free physical gold in Dubai. As it turns out, the ill-effects of sliding crude prices aren't confined to Alberta's housing market, cash-strapped oil boom towns and the market for blue collar jobs in Texas. The pain is also being felt by gold vendors who are quickly discovering that when oil revenue begins to run short, fewer Saudis and Russians go on precious metals shopping sprees.

 
Tyler Durden's picture

The Pentagon's "Long War" Pitches NATO Against China, Russia, & Iran





Whatever happens with the nuclear negotiations this summer, and as much as Tehran wants cooperation and not confrontation, Iran is bound to remain - alongside Russia - a key US geostrategic target. What the Pentagon - with customary hubris - does not see is Moscow and Tehran easily identifying the power play; the US government's hidden agenda of manipulating a "rehabilitated" Iran to sell plenty of oil and gas to the EU, thus undermining Gazprom.

 
Tyler Durden's picture

Frontrunning: April 30





  • Marchers protest police violence in Baltimore, New York (Reuters)
  • Majority of Financial Pros Now Say Greece Is Headed for Euro Exit (BBG)
  • Greece signals concessions in crunch talks with lenders (Reuters)
  • Greece, Euro-Area Partners Target Deal by Sunday (BBG)
  • Iglesias Says EU Risking Right-Wing Backlash With Greek Pressure (BBG)
  • Student-Loan Surge Undercuts Millennials’ Place in U.S. Economy (BBG)
  • Majors’ Quandary: Why Drill for Oil When They Can Buy Somebody Else’s? (WSJ)
 
Tyler Durden's picture

New Saudi King Consolidates Power To Maintain Current Oil Policy





Less than four months into his reign, Bloomberg reports that Saudi Arabia’s King Salman is consolidating power with a major reshuffle of succession lines and government officials. "The new king has proved consistent in his determination to elevate members of his close family to key positions," noted one analyst. As the world’s top oil exporter plays a more prominent role in the region’s power struggles, it apears Salman wants family close. Oil policy is unlikely to change, notes Bloomberg's Julian Lee, as this brings younger men into top government positions, paving way for transfer of power to new generation of princes.

 
GoldCore's picture

Europe’s Largest Airline Falls Prey to $5 Million Cyber Theft





The airline has been working with its banks and the relevant authorities and understands that the funds – less than $5 million – have now been frozen. Although the sum stolen was relatively small in corporate terms and appears to have been tracked and frozen quite quickly, the incident - yet again - highlights the threat posed by cybercrime to today’s banking and financial systems.

 
Tyler Durden's picture

Cyber-Attacks Are The New Cold War





Warfare today (and in the future) is (and will be) fought differently.  In the 1950’s with the creation of more destructive bombs and weaponry, the idea was ‘Mutually Assured Destruction’ (MAD).   The movie War Games helped us learn that there are no winners.  The warfare ideology today is ‘Multilateral Unconstrained Disruption’ (MUD).  This unrestrictive warfare is meant to disrupt societal functioning; to ‘poison’ information to elevate distrust of all computer information. Cyber-activity is the new ‘cold war’.

 
Tyler Durden's picture

Debt Pile-Up To Fuel Further Oil Price Pressure





"An 'oil-debt nexus' could create a vicious circle whereby overindebted companies pump more oil to ensure they can pay interest on their loans, adding to the current global oil glut, and further depressing energy prices," WSJ notes, citing a BIS report. The interplay between the industry's growing debt pile and falling prices is a microcosm of the deflationary dynamic that’s taking hold in the macroeconomy and that serves, in Citi's words, to destroy creative destruction, creating "zombies" along the way.

 
Tyler Durden's picture

Iran Forces Open Fire On, Seize "Trespassing"US Cargo Ship With 34 People On Board, Arabiya Reports





Update 2: Curiously, while we were confident Iran would deny the report first, it was in fact the US: US NAVY DENIES CONFRONTATION WITH IRANIAN MILITARY: CNBC

Update: WHITE HOUSE REFERS COMMENT ON IRAN SHIP CAPTURE TO DEFENSE DEPT

Moments ago according to Saudi-owned Arabiya news, Iranian forces have seized a US cargo ship, which has some 34 American sailors, which they have taken to the port of Bandar Abbas. Iran's Farsnews confirms the Arabiya report, stating that "a US cargo ship with 34 crew was stopped and seized by Iranian Navy warships on Tuesday. The Iranian Navy has confiscated the American trade vessel with all its 34 crew for trespassing on Iran's territorial waters in the Persian Gulf."

 
GoldCore's picture

Gold Rises, Silver Surges on Short-Covering and Physical Demand – Greece, Ukraine, Russia Risks





Greece must pay $3.8 billion to the IMF over the course of the next month and most analysts believe they will not be in a position to do so unless they can access the outstanding $7.2 billion in funds that form part of the existing program. Ukraine have also been flirting with a default.

 
Tyler Durden's picture

Officials Warn Senkakus Fall Under US Protection; Japan To Take "More Assertive" Military Role





Following meetings with Sec. of State John Kerry, Defense Sec. Ashton Carter, Japanese officials, it appears, have been shown the endgame now that the Keynesian farce is over... As AFP reports, Japan’s military to take on more assertive role, according to Japanese officials as Japan and US bolster their alliance for the first time in 18 years. Noting the alliance "serves as the cornerstone of peace in AsiaPac," and that the Senkakus will fall under protection of this new treaty, we suspect the Chinese will have more than a few things to say about this.

 
Tyler Durden's picture

Rising Police Aggression A Telling Indicator Of Our Societal Decline





The lines have been drawn in many police departments: it’s us vs. them. Trust in many departments has been utterly shattered within some communities because the police hold themselves to a different standard than they do the populace.  But the recent cases of police brutality are simply a symptom of a much larger problem. Society in the US is breaking down, civility has been lost, and the country is rapidly becoming uncivilized. This extends within and across all of the most important institutions.

 
Tyler Durden's picture

Apologies To A Grandson: "It's Not The Country I Imagined For You"





"I have no way of imagining what the United States will be like in your adulthood and yet I can sense that this country is changing in unsettling ways... Stretch anything far enough and it’ll begin to tear, fragment, break apart.  That, I suspect, may be a reasonable summary of what’s been happening in our twenty-first-century world.  Under stress, things are beginning to crack open... Though you don’t know it yet, you’re already living in an increasingly lopsided world whose stresses only seem to be multiplying. This has been true for the return of plutocracy...It certainly doesn’t look like the American world I’d want to turn over to you."

 
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