Netherlands

Swedish Prosecutor Rules Islamic State Flag Is Legal: "It Expresses Contempt For All Others"

A Swedish prosecutor has ruled that the ISIS flag does not constitute hate speech and is therefore legal under Swedish law. Prosecutor Gisela Sjövall announced last week that she would not prosecute a 23-year-old man who had posted the black ISIS flag on his Facebook page in June. "Put simply, one can say that he is expressing contempt for “all others”, and not against a specific ethnic group."

Frontrunning: October 11

  • Samsung scraps Note 7 (Reuters)
  • Note 7 fiasco could burn a $17 billion hole in Samsung accounts (Reuters)
  • Trump's struggles may depress Democratic voter turnout (Reuters)
  • Major Investor Sues Theranos  (WSJ)
  • S. Africa’s Gordhan to Be Charged; Rand Plunges Most Since June (BBG)
  • Oil price falls back from one-year highs, hit by OPEC deal concerns (Reuters)

Globalization Is Done

The end of growth exposes the stupidity and ignorance of all but (and even that’s a maybe) a precious few (of our) ‘leaders’. We are transcending into an entirely different stage of our lives, our economies, our societies. Growth is gone, it went out the window long ago only to be replaced with debt. And that’s going to take a lot of getting used to. But there’s nothing that says we couldn’t see it coming.

Dutch Central Bank To Move Its Gold From Amsterdam To A Former Military Air Base

The Dutch central bank announced it would move the country’s gold reserves from Amsterdam to a former military airbase located on land owned by the defence ministry near Zeist. The security measures necessary to guard the gold are a problem for both staff and visitors, the bank said in a statement on Thursday.

Is The US Dollar Set To Soar?

Which blocs/nations are most likely to face banking/liquidity crises in the next year? The FX roulette wheel is still spinning, but the ball will drop fairly soon, if not in Q4 2016 then in Q1 2017.

Paul Craig Roberts Urges "Bring Back The Cold War"

Pundits have declared a “New Cold War.” If only! The Cold War was a time when leaders focused on reducing tensions between nuclear powers. What we have today is much more dangerous: Washington’s reckless and irresponsible aggression toward the other major nuclear powers, Russia and China.

Largest Dutch Bank To Fire Thousands

One day after Germany's second largest lender confirmed reports of a massive restructuring when it announced it would lay off nearly 10,000 employees, or about 20% of its entire workforce while slashing the bank's dividend for the rest of the year, the Dutch newspaper Het Financieele Dagblad reported that ING Groep, the largest Netherlands lender, will announce thousands of job cuts at its investor day on Monday.

Will The ECB Buy Stocks?

With The SNB and BOJ already neck deep in their equity-buying experimentation, and even Janet Yellen hinting at it for The Fed, the most pressing question on most liquidity-hunting central-planer-watchers is - when will Draghi start buying stocks? The short answer, from ABN AMRO, is ECB equity purchases are unlikely in the near term.. and even so, The ECB would be increasing the risk on its balance sheet for uncertain, and at best modest gains in economic growth and inflation.

"Freedom Has A Price" - Holland's Wilders Rages "Let's Lock The Door To Islam"

"It is time to raise our voices. Let them sound like thunder: Freedom has a price. The price is to always defend it, no matter the consequences. To be brave and let no-one bully us into submission. So, let us do our duty and ensure that Reagan’s warning never becomes a reality: Extinction is not an option! Freedom or Islam. You cannot have it both ways. There is no middle way."

Dow Futures Slide Over 100 Points Despite Fed's Dovish Relent; Oil Drops On IEA Pessimism

After yesterday's torrid rally, which sent stocks higher the most in 2 months on the back of Lael Brainard surprisingly dovish comments, we have seen an unexpected profit-taking session overnight in ES, with US equity futures down 0.6%, driven largely by a renewed drop in oil prices which slid after the IEA said a surplus in global markets will last longer than initially estimated, persisting well into 2017 as reported previously.