Reuters

Frontrunning: September 30

  • Asia shares rally, but on track for worst quarterly loss in four years (Reuters)
  • Global Rally Shows Relief at End of $11 Trillion Stocks Meltdown (BBG)
  • Glencore Extends Rebound as Turmoil Shows Signs of Easing (BBG)
  • Putin wins parliamentary backing for air strikes in Syria (Reuters)
  • China Cuts Minimum Home Down Payment for First-Time Buyers (BBG)
  • German Unemployment Unexpectedly Rises in Sign of Economic Risks (BBG)
  • Japan Industrial Output Slide Hints at Recession (WSJ)

Did The Bank Of England Rig Emergency Liquidity Auctions During Crisis?

In yet another indication that manipulation may well be unspoken (or perhaps even spoken) policy at the BOE, new details regarding the UK Serious Fraud Office's investigation into emergency liquidity auctions conducted during the crisis suggest the central bank may have played a direct role in rigging the bids.

Frontrunning: September 29

  • Commodities in crisis as Asian shares tumble and shipper files for bankruptcy (Reuters)
  • Global Rout Eases as S&P 500 Futures Advance With Oil, Glencore (BBG)
  • Chinese Stocks Decline Most in a Month in Hong Kong on Economy (BBG)
  • India cuts interest rates by more than expected (BBC)
  • Glencore Rebounds as $50 Billion Plunge Is Seen as Excessive (BBG)
  • How Congress May Have Saved Goldman Sachs From Itself (BBG)

UBS Is About To Blow The Cover On A Massive Gold-Rigging Scandal

Unlike previous gold probe cases, this one will have major consequences. How do we know? Because just like in LIBOR-gate, just like in FX-gate, it is the biggest rat of all, Swiss megabank UBS, that is about to turn on its former criminal peers.  As Bloomberg reported earlier "UBS was granted conditional leniency in Swiss antitrust probe of possible manipulation of precious metal prices." Why would UBS do this? The same reason UBS did so on at least on two prior occasions: the regulators have definitive proof it is involved, and gave it the option to turn evidence and to rat out its cartel peers, or face even more massive financial penalties. UBS, as usual, choice the former.

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Buy Gold While You Still Can!

There’s an enormous and growing disconnect between the cash and physical markets for gold. This is exactly what we would expect to precede a major market-shaking event based on a physical gold shortage.

Frontrunning: September 28

  • Headline winner: "Read Beyond Massive Job-Cuts Headlines: Labor Market Is Fine" (BBG)
  • And speaking of lies: The More Yellen Talks Up Inflation, the Less Traders Believe Her (BBG)
  • How Some Investors Get Special Access to Companies (WSJ)
  • Victorious Catalan separatists claim mandate to break with Spain (Reuters)
  • Russia seizes initiative in Syria (Reuters)
  • Former VW boss Winterkorn investigated for fraud (Reuters)
  • Investors Pull Back From Junk Bonds (WSJ)