Switzerland

China Says It Is Ready To Assume "World Leadership", Slams Western Democracy As "Flawed"

"If anyone were to say China is playing a leadership role in the world I would say it's not China rushing to the front but rather the front runners have stepped back leaving the place to China," a top Chinese diplomat said, adding that "if China is required to play that leadership role then China will assume its responsibilities," he added.

Policy Makers - Like Generals - Are Busy Fighting The Last War

It's long overdue to acknowledge we face a future absent net growth and likely a future with fewer consumers, fewer homebuyers, fewer taxpayers, fewer employees.  We face a battle where higher productivity leads to ever more being done by ever fewer people... and if we aren't thoughtful, honest, and creative in how we adapt to this new reality... terrible consequences could await us.

These Are The 3 Main Issues For Europe In 2017

What will the year ahead look like for Europe? 2017 will be another chapter in the European Union’s slow unraveling (which even Soros sees as inevitable)... a process that has been underway for over a decade.

Nobel Prize Winner Tells Davos' Elite, US Should "Get Rid Of Currency"

Half a world away at the World Economic Forum in Davos, Switzerland, Nobel Laureate economist Joseph Stiglitz made remarks earlier this week that the US should "get rid of currency." Physical cash means there is no one else standing between you and your savings. But Professor Stiglitz and his colleagues don’t want that. They want a massive, centralized bureaucracy to have control over your savings.

Declassified CIA Memos Reveal Probes Into Gold Market Manipulation

he CIA recently released a series of declassified 1970s memos relating to the gold market and the newly created SDR. These memos give new insight how the CIA viewed the gold market, the perceived manipulation of gold and the potential for the SDR to become a gold substitute in the international monetary system.

Jewish Trust Sues Deutsche Bank For $3 Billion

A Jewish charitable trust has sued Deutsche Bank, alleging the German bank wrongly withheld as much as $3 billion from the heirs to a wealthy German family. According to Bloomberg, the lawsuit claims the bank refuses to return the funds initially deposited by the Wertheim family in accounts opened at what is now Credit Suisse Group AG before the rise of the Nazis in Germany.

Oil Tumbles After Unexpected Crude Inventory Build

A mixed bag of crude draw and gasoline builds from API combined with IEA comments on rising US Shale output offset by Saudi jawboning about more production cuts possible has pushedoil green before today's DOE data. However, oil prices tumbled when DOE printed an unexpected 2.347mm barrel crude build (1mm draw expected) and another major build in gasoline inventories. US crude production remains at 9-month highs.

The End Of The Obama World Order

For the past eight years, Barack Obama has been using the power of the U.S. presidency to impose his vision of a progressive world order on the entire globe.  As a result, much of the planet will greatly celebrate once the Obama era officially ends on Friday.

Lagarde Urges Wealth Redistribution To Fight Populism

"I want to be loud and clear: populism scares me... policy makers need to 'man-up' and pay for the social cohesion that we need to keep our societies advancing... it probably means more redistribution than we have in place at the moment and accept that this may be a higher tax burden on people..."