Having already proven that their institutions are above the law in the aftermath of the financial crisis, executives at the “Too Big to Fail and Jail” banks have decided it’s time to teach Senate Democrats a lesson. Not being content with trillions in taxpayer backed bailouts to protect and further consolidate virtually all wealth within their oligarch fiefdoms, these bankers are irate at the notion that a commoner would dare criticize their unassailable crony privilege. What Wall Street wants is one hundred Chucky Schumers in the Senate.
Update, and just as expected: IRAN NUCLEAR NEGOTIATORS MAY MISS 3RD DEADLINE: U.S. OFFICIAL
"The United States and Europe reportedly want the UN Security Council (UNSC) sanctions on Iran to be automatically reversible, meaning that if Iran violates the deal at any point, the UNSC sanctions will automatically be re-imposed on Tehran. Russia opposes such a scenario, saying in such a case the UNSC should decide what to do. Moscow says automatic imposition of sanctions goes against the mechanism of the Security Council. China also reportedly shares Russia’s viewpoint and is against the imposition of automatically reversible sanctions on Iran."
In the midst of a near-nationwide blackout that grounded planes and froze rail traffic and which officials say could be terror-linked, armed gunman have taken a prosecutor hostage in an Istanbul court house.
Turkey suffered a massive power outage that left half of the country’s 81 provinces without electricity, in what was the largest blackout in a decade and a half. Possible causes include a cyber attack and/or cats...
- Iran, powers push for nuclear deal as clock ticks toward deadline (Reuters)
- How DIY Bond Traders Displaced Wall Street’s Hot Shots (BBG)
- MillerCoors Caught in a Downdraft (WSJ)
- Saudi-led strikes again hit Yemen overnight (Reuters)
- Even With Free Money, Merkel Still Reluctant to Spend (BBG)
- Britain Uses Tax Breaks to Lure Digital-Game Developers (WSJ)
- China to Insure Deposits in Move Toward Scrapping Rate Curbs (BBG)
- As China Expands Its Navy, the U.S. Grows Wary (WSJ)
Did Reuters fabricate a key part of its story about the downing of flight MH-17 in which the media outlet revealed "new evidence on downing of Malaysian plane over Ukraine." According to the main witness Reuters supposedly interviewed, the answer is yes: “When we talked about the Boeing on camera, I explained everything as I saw it. The things that I allegedly said off-camera, all this nonsense, was made up by the journalist himself. It's all lies, because off-camera, we never discussed the Boeing, and just spoke about life, about the current situation, so to speak.”
People in the United States feel under threat, both from beyond our borders and within them and as Reuters reports, when asked about both U.S. President Barack Obama and Russian President Vladimir Putin, it was a pretty darn close call. A new Reuters/Ipsos poll finds a third of Republicans believe President Barack Obama poses an imminent threat to the United States, outranking concerns about Russian President Vladimir Putin and Syrian President Bashar al-Assad. Meanwhile, the world is certainly worried about America with about one quarter (of respondents from 65 countries) naming the United States as the greatest threat to world peace.
The horrible events of last week just go from bad to worse, if that is possible, as investigators dig further into the disturbed past of murderous co-pilot Andreas Lubitz and find more problems, as Reuters reports:
GERMANWINGS CO-PILOT HAD BEEN IN TREATMENT FOR SUICIDAL TENDENCIES IN THE PAST
Reports have suggested he was troubled by his sexuality and also seeking treatment for vision problems. While careful to note that recent treatments suggested no suicidal tendency, this merely raises questions about historical screening and ongoing monitoring among a group of people who are ultimately responsible for the lives of many others... especially after finding "a small mountain of anti-depressants" in his apartment.
- Setbacks and progress as Iran, six powers meet to end nuclear impasse (Reuters)
- Russia’s Foreign Minister Sergei Lavrov to Leave Iran Nuclear Talks (WSJ)
- Obama Ramps Up Lobbying on Iran as Deadline Looms (WSJ)
- Greek yields edge up as lenders scrutinise reform pledge (Reuters)
- Oil prices drop on possible Iran deal, dollar (Reuters)
- Yemen’s Houthis Battle for Aden as Saudi Strikes Hit Rebels (BBG)
- Iran nuclear deal to see $20 oil if Tehran floods crude market (Telegraph)
- China’s Zhou Says PBOC Has Room to Act on Growth Slowdown (BBG)
With the rest of the developed world's central banks waiting for the Fed to admit defeat for one more year and delay its proposed rate hike (or launch NIRP/QE4 outright) it was all about China (the same China which a month ago we said would launch QE sooner or later) and hope that its central bank would boost asset prices, when over the weekend the PBoC governor hinted that more easing is imminent to offset the accelerating drag after he admitted that the nation’s growth rate has tumbled "a bit" too much and that policy makers have scope to respond. How much scope it really has now that its bad debt is rising exponentially is a different question. It got so bad, Shanghai Securities News leaked a false rumor earlier forcing many to believe China would announce an unexpected rate cut as soon as today, in the process sending the Shanghai Composite soaring by 2.6%.
"If the RMB wants to achieve international status, it must have popular acceptance and a stable value. To this end, other than having assurance from the issuing nation, it is very important to have enough gold as the foundation, raising the ‘gold content’ of the RMB. Therefore, to China, the meaning and mission of gold is to support the RMB to become an internationally accepted currency and make China an economic powerhouse. That is why, in order for gold to fulfill its destined mission, we must raise our gold holdings a great deal, and do so with a solid plan. Step one should take us to the 4,000 tonnes mark, more than Germany and become number two in the world, next, we should increase step by step towards 8,500 tonnes, more than the US."
- Song Xin, Party Secretary and President of the China Gold Association
How will the central planners contain this MONSTER?!
As Moscow and Seoul throw their support behind China's Asian Infrastructure Investment Bank, the question is no longer about the end of dollar hegemony but rather about the extent to which the new venture will be used to institute a global shift towards the yuan.
Greek Energy Minister Slams "Unscrupulous, Imperialist" Germany, Will Seek "Bold Alternatives" In RussiaSubmitted by Tyler Durden on 03/28/2015 14:05 -0400
The Greek energy minister kicked the hornet's nest point blank earlier today when he said that "Greece is at more than breaking point; urgently needs big, bold alternatives to “German, incumbent Europe"and that "creditors behaving as unscrupulous imperialists towards distant colony, threatening submission or economic suffocation." More importantly, Lafazanis has some ideas where to find said "big, bold alternatives." In Moscow. Greece's Energy Minister Panagiotis Lafazanis will meet his Russian counterpart and the CEO of energy giant Gazprom in Moscow on Monday, as he hit out at the EU and Germany for tightening a 'noose' around the Greek economy.