• GoldCore
    08/22/2014 - 05:07
    The former powerful mafia boss, turned motivational speaker and author, Michael Franzese, warned on CNBC that stocks are a bubble, Wall Street is crooked and advised people to own physical gold...

Netherlands

Tyler Durden's picture

Russia Busts European Sanctioned-Fruit Smuggling Ring





Just days after Russia banned the import of various foods from sanctions-supporting nations, VZ reports Russia's food safety ministry Rosselhoznadzor has discovered fruit being smuggled in via Belarus that was restamped as being from Zimbabwe and various other non-sanctioned nations. It appears the smuggling nation culprits are Poland, Slovenia, and Greece and Russia is now "actively monitoring the situation," suggesting they may extend import bans to Belarus also if the situation continues. In addition, Rosselhoznadzor intends in the future to move to a system of electronic certification of goods in transit.

 
Tyler Durden's picture

Frontrunning: August 22





  • Ukraine accuses Russia of invasion after aid convoy crosses border (Reuters)
  • Hunt for Foley’s Killer Spans Old Policing and Tech Tools (BBG)
  • U.S. Probe Examines GM Lawyers (WSJ)
  • Argentina accuses U.S. Judge Griesa of "imperialist" attitude (Reuters)
  • Violence-weary Missouri town sees second night of calm (Reuters)
  • Geneva Banks Break 200-Year Silence to Unveil Earnings (BBG)
  • Richest Jailed Putin Foe Says Ukraine Fears Sparked Prosecution (BBG)
  • Disclosure of Failed Attempt to Rescue James Foley Is Criticized (WSJ)
  • Execution of U.S. journalist reveals the changing business of war coverage (Reuters)
 
Tyler Durden's picture

The Bottom Line To Investors From Tax Inversions: No Above Average Returns





While it remains to be seen if Obama can put an end to what has been the hottest M&A trend in 2014, namely engaging in tax redomiciling "inversion" deals, it is clear that the C-suite is delighted to continue pursuing deals which minimize the cash outflows to the US Treasury, with some 52 redomiciling deals done since 1983, 22 taking place since 2009 and another 10 being finalized and many more in the works. But what is the track record of tax inversions when it comes to the bottom line, namely investor returns.  According to a Reuters calculation, "companies that have done such "inversion" deals have failed to produce above-average returns for investors."

 
Tyler Durden's picture

World Reserve Currencies: What Happened During Previous Periods Of Transition?





Global crises wreak havoc on all levels of existence, not to the mention the great cost to human lives. If we are to learn from history, however, it seems as though we might have to nevertheless brace ourselves for yet another one in the near future, as it marks the end of one saeculum and the start of a new economic paradigm aligned more positively with proper balances of trade, debt, and policies. The US is trying to postpone the crisis by printing money, however this is creating currency wars with nearly all major central banks in the world. As history has shown us time and again, causing this delay through money printing will only aggravate the problem, not only not preventing the inevitable, but indeed making the transition more painful and costly.

 
Tyler Durden's picture

Gazprom To Europe: We Own You (At Least Until 2016)





“Commercial shale gas production in Europe can begin not earlier than in 2016-2018 even with positive geological surveys. But production volumes will not bring about major changes in the European gas market due to a decline in conventional gas production,” Gazprom. Which, sadly for Europe, means that Putin will be dictating his terms on the energy-strapped continent for a long, long time.

 
Tyler Durden's picture

How To "Value" Sovereign Bonds In 2 Words: US 'Friend' Or 'Foe'





If a trader knew nothing about the growth, the debt, the inflation, the exporters vs. importers, the serial defaulters, currency manipulators, hot-money or conversely deflation fighters; simply grouping the nations of the world on whether they were 'friend' or 'foe' to the US would provide an odd highly correlated value perspective on the interest rates paid on 1yr and 10yr sovereign debt... It appears your status with the central bank cabal was more important than your ability to repay the loaned money?

 
Tyler Durden's picture

If Goods Don't Cross Borders, Armies Will





While the conflict in Ukraine rages on, EU member states havedecided to impose (not so much more stringent)economic sanctions against Russia, which was predictably followed by Russian counter-measures. The question which isn't being asked often enough, is whether these sanctions will actually improve the situation. Here's an analysis following four concrete questions:

1. Can things get even worse in Russia?
2. Is the West able to guide Russia and Ukraine down the right path?
3. Can the West contribute to a sharpening of the crisis?
4. How can the West protect itself against this conflict?

 
Tyler Durden's picture

Frontrunning: August 11





  • Maliki digs in as U.S. pushes for new Iraq government (Reuters)
  • Ukraine's forces say close to taking rebel-held Donetsk (Reuters)
  • Anger Over Michael Brown Shooting Leads to Looting (WSJ)
  • German Economy Backbone Bending From Lost Russia Sales (BBG)
  • Kinder Morgan to Consolidate Empire (WSJ)
  • Early Failure to Detect Gaza Tunnel Network Triggers Recriminations in Israel (WSJ)
  • You’ll never guess how much BuzzFeed raised from Horowitz (FT)
  • The dumb money is now chasing Chinese oligarchs: Norway’s Wealth Fund Buys $576 Million of Mayfair Area (BBG)
  • Clinical trial to start soon on GSK Ebola vaccine (Reuters)
  • No drone skeet shooting any time soon (WSJ)
 
Tyler Durden's picture

Europe's Russian Connections





The conflict in Ukraine and the related imposition of sanctions against Russia signal an escalation of geopolitical tensions that is already being felt in the Russian (and increasingly world) financial markets. As The IMF describes in this chartapalooza, a deterioration in the conflict, with or even without a further escalation of sanctions and counter-sanctions, could have a substantial adverse impact on the Russian economy through direct and indirect (confidence) channels. But, perhaps more importantly to the West-sponsored IMF, what would be the repercussions for the rest of Europe if there were to be disruptions in trade or financial flows with Russia, or if economic growth in Russia were to take a sharp downturn?

 
George Washington's picture

Top Financial Experts Say World War 3 Is Coming … Unless We Stop It





Nouriel Roubini, Kyle Bass, Hugo Salinas Price, Charles Nenner, James Dines, Jim Rogers, David Stockman, Marc Faber, Jim Rickards, Paul Craig Roberts, Martin Armstrong, Larry Edelson, Gerald Celente and Others Warn of Wider War

 
Tyler Durden's picture

Russia Slams "Puzzling And Unprecedented" $50 Billion Yukos Award, Challenges "One-Sided" Court Ruling





The Hague is not Vladimir Putin's favorite place today. Following the "war crime" comments earlier, the arbitration court's decision to rule in favor of Yukos shareholders (and thuis against the allegedly "politically motivated" confiscation of the firm's assets by the Russian government) with a $50 billion settlement (half what was sought) has prompted a quick and angry response from the Russian government. Blasting the "one-sided use of evidence," and re-iterating the massive tax evasion that the leadership were involved in, Russia slams "the puzzling unprecedented amount of damages" awarded, claiming the process is "becoming increasingly politicized."

 
Tyler Durden's picture

UN Says MH-17 Downing "May Be War Crime"; Russia Responds Photos Of Ukraine Shelling Are Fake





With the start of the new weeks, and with the MH-17 tragedy increasingly more distant and blurred, with no definitive evidence on either presented so far, with a stripped black box revealing nothing, and with the Air Traffic control recordings still in Ukraine secret service hands, the "He said, She said" is about to escalate to a fever pitch.

 
Tyler Durden's picture

Can Germany Carry Europe’s Weight In The Next Financial Crisis?





Within the European economic context Germany has been a star performer in recent years, outgrowing in GDP terms its Eurozone peer group as a whole in all but one year since 2006 (complete with a magnificent football/soccer team). This was quite a reversal of fortune from the ten years prior, when Germany consistently lagged in wealth creation. Together with its size and unwavering historical commitment to the EU project, this has created the expectation in political and even financial circles that if Europe faces another major economic crisis Germany will have no choice but to support the most vulnerable member states, possibly even relenting to the mutualisation of the Eurozone's debts. While this is a very complex topic, the following graph puts the odds in favor of one outcome: the next time push comes to shove in a big way, Germany will likely say NEIN!

 
Tyler Durden's picture

Company In Which Joe Biden's Son Is Director Prepares To Drill Shale Gas In East Ukraine





Recall what we said earlier today: the proxy war Ukraine conflict, just like that in Syria preceding it, "is all about energy." Recall also the following chart showing Ukraine's shale gas deposits, keeping in mind that the Dnieper-Donets basin accounts for approximately 90 per cent of Ukrainian production. Finally, recall our story from May that Joe Biden's son, Hunter, just joined the board of the largest Ukraine gas producer Burisma Holdings. Now put it all together and you will like figure out what will happen next.

 
Tyler Durden's picture

Dutch Send 40 Unarmed Military Police "Forensic Experts" To MH17 Crash Site





In an effort to make the MH17 crash site safer, Dutch Prime Minister Mark Rutte has announced that he will be sending 40 unarmed military police. As AP reports, the military police will help the investigators (along with forensic experts) "to look for remaining remains and personal belongings" and "to try to piece together exactly what happened." While pro-Russian separatists have ensured the site is a safe place for the Dutch investigators (who have been given the lead role since Holland was so hard hit), Rutte acknowledged that it "remains a risky place to work," and "will constantly reassess the situation."

 
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