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GoldCore's picture

Gold Capped As Soros Warns Of “Threshold Of A Third World War”





The ‘war’ word is being increasingly heard internationally as the U.S., EU, Russia and China adopt provocative postures over various disputes including Ukraine and in the Pacific. War with the U.S. is “inevitable” if the U.S. involves itself in the dispute which has arisen over the Spratley Islands in the South China Sea according to China's state controlled newspaper the Global Times.

 
Tyler Durden's picture

Oil Prices Drop To 7-Week Lows - Here's Why





WTI Crude hit new 7-week lows, dropping below $57 (front-month) for the first time since April 15th's 'inventory draw' rip. In addition to reports from Reuters of leaked details about OPEC not expectated to cut production (did anyone really expect that), a combination of renewed inventory builds (as reported by API last night) and reports that Iraq is increasing its supply to new record highs is forcing futures prices to catch down to physical markets.

 
Tyler Durden's picture

"My Love Is Real" Kenyan Lawyer Offers Cows, Sheep, & Goats For Obama's Daughter





"I got interested in her in 2008," Kenyan Felix Kiprono tells The Nairobian newspaper, and now, in an official marriage request, the lawyer has offered US president Barack Obama 50 cows, 70 sheep, and 30 goats in exchange for his 16-year old daughter Malia's hand in marriage. As AFP reports, Kiprono dismissed the notion he might be a gold-digger, adding that he and the young Obama would lead "a simple life," and he will teach Malia how to milk a cow. This is not the first time a Kenyan has offered livestock in exchange for a President's daughter...

 
Tyler Durden's picture

Futures In The Red On Europe Jitters Ahead Of Obligatory Low-Volume Levitation





While yesterday most markets were closed and unable to express their concerns at the very strong showing of "anti-austerity" parties in Spain's municipal election from Sunday, then today they have free reign to do just that, and as a result European stocks are broadly lower, alongside the EURUSD which dripped under 1.09 earlier today, with Spanish banks among the worst performers: Shares of Banco Sabadell, Bankia, Caixabank and Popular were down 1.8 to 2.3% earlier this morning, and while the stronger dollar was a gift to both the Nikkei and Europe in early trading, after opening in the green, Spain's IBEX has since slid into the red on concerns of what happens if the Greek anti-status quo contagion finally shifts to the Pyrenees.

 
Tyler Durden's picture

Chinese State Paper Warns "War Will Be Inevitable" Unless U.S. Stops Meddling In Territorial Dispute





Just to confirm that if the US had hoped it could threaten Beijing into submission and force the Politburo into curbing its expanionist appetit, it was dead wrong, the nationalist Global Times, a paper owned by the ruling Communist Party’s official newspaper, the People’s Daily, said in a Monday editorial that war was “inevitable” between China and the United States unless Washington stopped demanding Beijing halt the building of artificial islands in the disputed waterway.

 
GoldCore's picture

China Sets Up Gold Investment Fund For Central Banks





China launches international gold fund with over 60 countries as members. The large fund, which expects to raise 100 billion yuan or $16 billion, will develop gold mining projects across the economic region known as the New Silk Road.

 
Tyler Durden's picture

Greece Is On The Ragged Edge: Bloodied Idealogues Vs. Bloodthirsty Technocrats





"I would be more than happy to see the cradle of democracy put the imperial autocrats and financial kleptocrats in their place, teaching them a thing or two about enlightened self governance."

 
Bruno de Landevoisin's picture

The Bloodied Idealogues vs. The Bloodthirsty Technocrats





Along with the privilege of leadership, comes responsibility.  The entire financialized abominNation is a national disgrace.

 
Tyler Durden's picture

Bank Of England Accidentally E-mails Top-Secret Brexit Plan To Newspaper





The first rule of “Project Bookend” is that you don’t talk about “Project Bookend.” In retrospect, maybe the first rule should have been “you don’t accidentally e-mail ‘Project Bookend’ to a news agency.”

 
Tyler Durden's picture

China's Richest Man Sees Half His Net Worth Wiped Out In Seconds After Bubble Stock Instacrash





Li Hejun began the day as either China’s second-richest man according to Forbes, or richest, according to the Hurun Report and Le Figaro, with a fortune worth more than $30 billion. By 11am, his net worth was amazingly cut by half, and he was almost $14 billion "poorer" as shares in Li’s flagship Hanergy Thin Film plunged by 47% in Hong Kong before trading was suspended - due to Li's absence at the company's annual meeting.

 
Tyler Durden's picture

Futures Flat With Greece In Spotlight; UBS Reveals Rigging Settlement; Inventory Surge Grows Japan GDP





The only remarkable macroeconomic news overnight was out of Japan where we got the Q1 GDP print of 2.4% coming in well above consensus of 1.6%, and higher than the 1.1% in Q4. Did it not snow in Japan this winter? Does Japan already used double, and maybe triple, "seasonally-adjusted" data? We don't know, but we do know that both Japan and Europe have grown far faster than the US in the first quarter.

 
Tyler Durden's picture

Are They About To Confiscate Money From Bank Accounts In Greece Just Like They Did In Cyprus?





Do you remember what happened when Cyprus decided to defy the EU?  In the end, the entire banking system of the nation collapsed and money was confiscated from private bank accounts.  Well, the nation of Greece is now approaching a similar endgame.  At this point, the Greek government has not received any money from the EU or the IMF since August 2014As you can imagine, that means that Greek government accounts are just about bone dry.

 
Tyler Durden's picture

How To Spot Groupthink Among Economists





  • A tendency to examine too few alternatives; A lack of critical assessment of each other’s ideas;
  • A high degree of selectivity in information gathering; A lack of contingency plans;
  • Poor decisions are often rationalised; The group has an illusion of invulnerability and shared morality;
  • True feelings and beliefs are suppressed; An illusion of unanimity is maintained;
  • Mind guards (essentially information sentinels) may be appointed to protect the group from negative information.
 
Tyler Durden's picture

Frontrunning: May 19





  • China’s Record Capital Outflows Spark Financial Stability Fears (FT)
  • U.K. Inflation Falls Below Zero for First Time Since 1960 (BBG)
  • Islamic State Solidifies Foothold in Libya to Expand Reach (WSJ)
  • Judge sentences 11 Afghan police over lynching of woman in Kabul (Reuters)
  • The $18 Trillion Global Economic Boost If Everything Went Right (BBG)
  • Eurozone Prices Confirmed Flat Year-on-Year in April, Core Inflation Inches Higher (Reuters)
  • Greek Finances to Stagger On Longer Than You Think (BBG)
  • Athens sees EU deal soon, Greeks' approval of government stance dwindles (Reuters)
 
Tyler Durden's picture

Stocks, Bonds Spike After ECB Pledge To Accelerate QE Ahead Of "Slow Season"





Less than a week ago, fresh from the aftermath of the recent dramatic six-sigma move in German Bunds, one of Europe's largest banks openly lamented that so far the ECB's QE had done absolutely nothing: "two months of QE for nothing." And lo and behold, as if on demand, overnight the ECB confirmed it had heard SocGen's lament when just before the European market open, ECB executive board member Benoit Coeure delivered a speech at the Brevan Howard Centre for Financial Analysis (appropriately named after a hedge fund) at Imperial College Business School (not to be confused with the July 26, 2012 Mario Draghi "whatever it takes" speech which also took place in London) in which he said that the ECB intends to "frontload" i.e., increase, its purchases of euro-area assets in May and June ahead of an expected low-liquidity period in the summer.

 
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