In September we reported that an employee of the Royal Canadian Mint smuggled C$180,000 (USD $140,000) in gold from the fortress-like facility, evading multiple levels of detection with a time-honoured prison trick: hiding the precious metal up his butt. Having been found guilty in November ("wait, what gold coins?"), 35-year-old Leston Lawrence was sentenced to 30 months in prison today, by a judge whose name was 'Doody'.
The Federal Reserve said it remains on track to gradually raise short-term interest rates this year and gave no hint about when the next increase might come, and while it focused on rising consumer and business sentiment, it warned that "market based measures of inflation compensation remain low."
European stocks rise the first day in four, with Asian stocks, S&P futures and the Dollar all gaining following strong Apple earnings ahead of today's Fed decision and the U.K. parliament's first vote on the Article 50 bill.
Democrats on the Senate Finance Committee boycotted votes to advance Tom Price, Trump’s pick to head the Department of Health and Human Services, and Steven Mnuchin, his selection to head the Treasury Department.
This “powder keg” may not wait until then. For “then” (March) may be a moment too late. (Just ask Caesar).Circumstances are now showing this “powder keg” could in fact become – self-combusting. All courtesy of The Fed’s own words whether, stated, implied, written, or imagined.
"Bannon is correct that the US media - indeed, the entire Western print and TV media - is nothing but a propaganda machine for the ruling elite. The presstitutes are devoid of integrity, moral conscience, and respect for truth."
So "when will it end?" BofAML's best guess remains sometime in the summer. Here's their checklist of Positioning, Profit & Policy data to indicate we are in the Last 100 days of the rally, perhaps also the Last 100 Days of the secular upswing that began in March 2009...
"The rally remains a function of growth and Washington. The growth part remains intact. The gap between Washington expectations and reality is still too large and while closing it will likely create headwinds for stocks it shouldn’t be fatal to the SPX."
The death of Brazilian Supreme Court Justice Teori Zavascki who had presided over the sprawling "Carwash" corruption scandal, and who died yesterday in a freak airplane crash has sent shockwaves both around the globe and in Brazil, because while few in polite company will discuss it, it has opened the possibility of political assassinations as a means of "quieting" legal proceedings.
"[Trump's comment] was meant to be that perhaps in the short term, the strength in the currency as a result of free markets and people wanting to invest here, may have had negative impacts on -- on our ability in trade."